Charlty reglstratlon number 279784 (England and Wales) Company reglstration number 01485291 BEAFORD ARTS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 I SimpkinsEdwards
BEAFORD ARTS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms M Jad(8on r T Langdon-t)avSe5 Mr S Standing Mr M W8rren Dr C Kelly Ms E Ravilious MrA Qu8yle Mr J Bamham Ms S M Luciani-Kane Ms R Young (Appolnted 8 July 20251 Secretary r R W8ll8¢e Charity number 279784 Company number 01485291 Registered office 95 High Street Bamstsp Devon EX31 1 HR Independent examlner MrJ Welton FCACTA Simpkins Edwards LLP fvlillennlum House Brannam Crescent Roundswell Business Park Barnstsple EX4 3LQ Inveslment advlsors Ralhbone Investment Management The Senale Stsuthemhay GardÈns Exeter Devon EX11UG
BEAFORD ARTS CONTENTS Page Trustees, report Independent examiner's report statement of financial activities Balanc& sh¢ot Notes to th8 financial ststernerbts 9-20
BEAFORD ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trLJStees pSent their annual report and financial ststements for the year ended 31 March 2025. Th8 financtal stat8m8nts hav8 b88n w8pared in accordonce with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document. the Companies Act 2006 and "Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charitl8s preparing their accounts in accordanca with th8 Fin8nrial Rèporting Standard applicable in the UK and Republic of Ireland IFRS 102) léffè¢tive 1 January 20191 The company registr8tion number is Q1485291. Objectives and activities The charlty aims to promote publtt Int¢st In the arts, hodtage, and environment, and to faolitate the public's recreation across the 1,140 land-based square miles of North Devon's UNESCO Wodd Biosphere Res8rv8. The trustees have paid due regard to guidance issued by the Charity Commission in d8ciding the activities we undertake. Our three main regular areas of operation are often combin8d in Beafords major projects.. Our Ev8nls programme works wth volunteer partners in rural communiti'es across Northern Devon lo bring high-quality professional perfOrmanS and specialist pres8ntations lo their villages. The number of events per year is limiled by the amount of Gharitable funding raised, but within this constraint, the programme is op8n to any rural village corrmunity. Beaford combines the expertise Of culture prolessionals and ¢ommLJnity partners to produce a programme uniquely suited to each place we serve. We a150 corrtmission end oo-produce new work made in and inspired by rural North Devon. P881 Cor0dGtlQS have toured regionally or nationally. The Beaford Arthive contains over 80,000 photographs af North Devon taken beeen 1850 and 1990, including bodies of work created by James Ravlllous 8nd Sir Roger Doakins CBE. The Royal Photographic Society has described the Archive a$ ' a unlque body of Wk, unparalleled, al least in this country, lor its scale and quallty.. Ten thousand of these analogue irrages from the 1970s and 1980s have already been ijigitised in high resolution, and the remainder have been digitised in thumbnall to from the photographers, Original contsct sheets. We aim to continue commissioning new photographic work to maintain the Beaford Archive as an ongoing record for fuiure generations. Our Education programme, led by education prof8ssiona18, works with state schools lo support the CTeative education of rural North Devon's children and young people. Projects in participating schools arg funded through public and charitable sources. ensuring that all pupils can take part. Our programme helps rural children and young pèoplè to develop their creativity and gain a deeper understanding of their heriiage and environmgnl, overcoming the inherent disadvanÉ3ges of rural isolation. Through our Youth Art5 Amb8s5adors programme, we also provide tailored support to successful 8pplicants wilh a particular aptitude *or the arts who rnay wish to pursue creative subjects at a higher level. Achievements and p8rfomianc8 Edu¢atlon W8 pfBs8nted a welkre¢gived research paper with the University of South Wales on our project 'A Voice To Tel Our Story, at the British Educational Research ConfBrence in SepteThber. Our locus in the year Shifted, however, towards likely participants in ILrtur8 education opportunities al Brtdge Chambe¥s in 2026 and beyond. We launched a recruitment round for our Youth Arts Ambassadors scheme, co.design8d with polential members and aimed at young people aged 14-21. Wp CrUIted twice as many rnembers as originalty expected. Some are seeking work 8xp8rience prior lo pursuing creative subjects in higher education. while others arè se&kSng fresh inspiration and opportunities io pursue their creative goals. Our first fl8gshlp ctsmmission IrorTS the schem8 W8S the first chapler of a new graphic novel about Oovon by Year 11 young 8rtisf Aaban A51am. It was featured across BBC regional television and radlo Fekiruary 2025.
BEAFORD ARTS TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Archiva Following the success of last year's project and commission, 'When I'm 40,, our locus this year was on preparIg our next major project. Before beginning that preparatory work, however, we partnered with The Burton at Bideford for an exhibitio running from late April to early June, featuring a new selection of recent 8eaford Archive commissions from Devon photographer Robert Darch, alongside a selectlon of new and older prlnt$ by Martln Parr. During that exhibitioN's run, we also partnered wsth the Burton to exhibit'when I'm 40, in Bideford's Pannier MarkEt. Once again, the Devon County Show invited us to Exhibit Archive images in th8 President's Marquee. The board was pleased 10 See the Chair taking the lead this year in curating and hanging ih@ exhibition, having bÉan 8bly trained by our curator in previous yaarsl During the summer and autumn, we prepared a major bid to the National Lottery Heritage Fund lo digitise and then digitally clean the images in the Beaford Old Archive. This collection of 8foLJnd 9,000 image5 of North Devon from 1850-1945 was assembled in the 1970s by James Ravilious and George Tucker, who photographed old phOtraphS brought to them by North Devon residents. The project will also work with five pilot communities to collect images covering the archive's missing period 1945-1970, aimlny to ennnect the Old Archlve and the R8vilkbUS Archlve to create 8 seamless record ol North Devon from 1850-1990. We were delighted to learn at the end of the financial year that NLHF had awariled the fundlng requlred for thls £180,000 pruject, which will take almost twc> years to compkte. Events In addition lo fhe programme delivered with our comrnunity partners in Spring 2024, we aLso worf(ed on two major projects. The second ol our two outdoor co-productions of existing work by 8um the Cunaln, 'The Adventures of Don Quixote by Bicycle,, took place along the Tarka Trail at Frernington across the first May bank holiday. IN 18te May, we ran 8 three-night album launch residency for North Devon band 'Smalltown Jones. * Bridge Chambers. All three nights were sold out, demonstrating thp venue's potentlal vlabllity. Our Autumn 2024 s83son saw OLJr final prB58ntation al Bridge Chambers before the hall closed for preparatory work ahead of the main capital project scheduled lo begin in Spring 2025. Our community programme continued to regain Morn8nm, with pr8sentations ranging from storytelling in pubs and Christmas craft workshops in village halls to talks by the CEO of the North Devon Biosphere Reserve. Our Spring 2025 season dosed the financial y@8r wth thè op8ning dales of Chris Thorpe's national tour of 'Talking About the Fire,. which was preceded by workshops in two local secondary schools a few weeks beforehand. Our partnership with Braunton Academy's drama departtnEnt once agoirr proved p8rtifjularly effective, and we are graleful for the department's comrnitment to bngIng professional contemporary theatro to thesr students 8nd community. DevelopTrrtrg cuFture in North Devon The Bamstapl& Bridge Trust continued with its p18nnlng work for the Bridg8 Charnb8rs capilal redevelopment throughout the year. li also develtsped plans for the subsèquent operations of Bridge Chambers. We continued to present perf0MnceS in the un-refurt>ished h811 to leam about its potential, limitations. and likely audience.
BEAFORD ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal revSew We continue to benefit from regular funding 8greemÈnts with our core funders, Arts Council England and the Dartington North Devon Foundstion. Our funding sources remain diversified, in line with our busingss plan objective5, after our new Beaford Archive projecl secured funding from the National Lottery H8ritage Fund at the end of the financial year. Our annual funding from Arts Council England is Gonfirmed until March 2026, subject to ACE'S standard conditions, with sn 8dditional ye8r's funding hoped to be confimied by ihe end of calendar 2025. We 8r¢ gralsful lo our funders lor their confidence in our work. The trust8es tsk8 an active role in the supervision and management of the organisation's assets to support future developrnenl. The tW5tee5 manage overall reseNes to ensure that we can discharge any contraBtual obligati8 to the staff and service providers during the coming yèar, and to cover Short-lerm funding irregularities and essential renewal of capital equipment. The significant risks to whith the charity is exposed are reviewed regularfy by the trtjstees, who work with our staff to implement appropriate mitigats'on plans. Our inVoement with young people requires that all Stsff are thecked for suitability with the Disclosure and Barring SeNiC8. It is dear from the resuks disclosed in this report that the chaty has a need forfurther sources of fun(Jlng, In addition lo the ACE wntributlon and the NLHF project, if the current l&vels of activity across all segments are to be malntained. At this stage the trustees are heavily committed to, and engaged in, the identification of additional funding so as not lo reduce the operational capacity of the charity. This position will be kept under constant review, as will the adequacy of our financi81 r£g8rv88. The Iruslees believe strongly that our quality of delivery, the recognition genErated by all our recent aclivibes, and our sound finanaal managemènt mak$ us an attractiv8 partn8rfor aspiring sponsors from all se£tor6 of the North Devon I wider Dgvon community. Wè continuÈ to seek new funding partners as part of our ongoing work to build a broader funding base for the charity.
BEAFORD ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Siructurei govgrn?nce and management Th8 charity is a compat)y limitèd by guar8ntee, incorporated originally as the Beaford Arts Centre in 1980 and registered as a charity in the same year. The company was established under a Mernorandum of Association which established the objects and pow8rs of thè charitablè cornpany and il is governed under its Articles of Association. The twstees, who are also the direEtors for thB PLJrpose of company law, Ènd who served during the year and up to the date (rf sign8ture ol the financial staternents were. Ms M JaGkson Mr T Langdon-Davies Mr S Stsnding Mr M W8rr8n Dr C Kelly Ms E Ravilious Mr A Quayle Mr H Thompson Mr J Barnham Ms S M Luciani4ane Ms R Young (Resigned 3 Juty 20251 IAppoint8d 8 July 2a251 The dlrectors of the company are also the charity trustees and manage the organlsation as a Board of Trustees. Each trustee is elected to serve for a maximum of three years 8fter which Ihey may be re-elected at the annual general meetlng. The boarf comprised nine trustees at the year end. Trustees are appcxnted based on their prtsv8n skills and th8ir know18dg8 and exp8rience of either the arts. heritage or environment sectors. The tntstees appoint a director who is responsible to the board for the delivery of the oharity's objectives and the effective performance of the slaff and volunteers who provide serviGe8 primarily to the rural communities of northem Devon. The trustees meet as requlred, usually al least quarterly. Two subcommittees of the board mèet with key staff in Ihe period between full board meetings to oversee operations and projectg in dose detail. Minutes of these subcommittees 8re received by the full board. Between meelings, staff members c211 on tmstees for support and advice, bas8d on their particuLar areas of expe$2. These combin8d 8pproache8 enable the board of trustees to fu11 its govemance objectives. Th8 Irust8es' report was approved by the Board ofTrustees. MrA Uayle Trustee
BEAFORD ARTS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEAFORD ARTS I report lo the trustees on my examination of the financial statements of Be8frJrd Art5 Ithe charity) for the year ended 31 Mar¢h 2025. Responslbilities and basls of report As the trustees of the charity land also its directurs for the purposes ol company lawl, you are rosponsible for th8 preparation of the financial stat8ments in accord8rhc8 Wtth the rgquirements of the Companies Act 200e. Having satisfied myself that tho financial statements of the charity are nol required to be audited under Part 16 of the Companies Act 2006 8nd are eligible for independent examination, I report in respect of my examlnalion of the charlty's financial statents carried wt under section 145 of the Charltles Act 2011. In Garying out my examination I have followed the Diredions given by the Ch8rfty Commisslon under section 14515llbl of the Charities Act 2011. Independent examinerfs statement I have completed my èxamination. l eanfim that no matters have corne to my attention in connection with the examination giving me cause to believe that in any matertal respect accounting records were not kept in respect of the charity as required by section 386 of thtt Compari8S Aet 2006. the financial statements do not accord with th0$8 reoords., or the financial statements do not comply wilh the accounting requirements of sethon 396 of the Conlpanies Act 2006 other than any requirement that the financi81 stslements give a true and fair view, which is not m8tter considered as p8rt of an independ8llt examination., or the fin8ncial statèments have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice lor accounting and reporting by charities applicable to ch8ri1ies preparing their financial stalements in accordance with the Finan8& Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no conc&ms and have come across no Oth mattèrs in ttonn8Ction wth th8 examinab'on to which attèntion should bè dr8wn in this rÈpryt in order to enable a proper understanding of the financial statements to be reached. J Welton 8A IHonsl FCA CTA f and on behalf of Simpkins Edwards LLP Millennium House 8rannam Crescent Roundswell Business Park Bamstaple EX313TD Dated..
BEAFORD ARTS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted Restrleted funds funds 2025 2025 Total Unrestr19d Restricted funds funds 2024 2024 Total 2025 2024 Notes Incomo Irom: Donatlons logacies Charitable activities Investments 172,001 17,060 1,592 21,572 193,573 17,060 1,592 174,343 14,455 2,664 78.903 253,246 14,455 2,664 Total Income 19D,653 21,572 212,22S 191,462 78,903 270,365 Exp8ndltur8 on". Ralslng funds Charit8ble activities $42 240,423 542 258,704 433 205,356 433 287,174 18.281 81.818 Total expenditure 240,9f 18,281 259,246 205,789 81,818 287,607 Net gainslllosses) on Investments 11 11391 1139) 2,921 2,921 N•t incom•l(exp•ndSture) 150,4511 3.291 147.1601 111.4061 {2,9151 114,3211 Transfers between funds 12,0731 2,073 Net movemEnt in funds 150,4511 3,291 147,16Q} 113,4791 18421 114,3211 Reconciliation of fund6: Fund balances at l April 2024 141,342 14,895 156.237 154,821 15,737 170,558 Fund balance8 at 31 March 2025 90,891 18,186 109.077 141.342 14,895 156,237 ThB Statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
BEAFORD ARTS BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxèd assets Tangible assets Investments 13 14 105.274 105,415 69,137 105,274 174,552 Current a568t$ Slocks DebtOTS Cash at bank and in hand 15 16 3,883 7,557 6,832 4.549 5,501 10,332 18,272 20,382 Credltors: amounts falllng due within one year 17 114,469) 138,6971 Net current assetsllliabilitiesl 3,803 118,3151 Totsl assets less current liabltieS 109,077 156,237 Income lund5 Restricted funds UnstriCted funds 19 1e.186 90,891 14,895 141,342 109,077 756,237
BEAFORD ARTS BALANCE SHEET (CONTINUED) ASAT31 MARCH 2025 The company is entitled lo the exEfTFption from the audit requirement contained in section 477 of the Companies Act 2006, fDf Ihe year ended 31 March 2025. The directors acknowledge thgir r8sponsibilities lor complying with the requirements of tha Companies Act 2006 with respect lo accounting records and the preparation of finanaal stalements. ThE members have nDt requlred the company lo obtain an audll of Its nanCIal statements for th8 y8ar In question in accofdanc8 Wlth sedion 476. ThEse finan1 ststemenls have been prepared in accordance with the provisions applicable to eomp8nies subject to the small companies regime. The financial statemenls were approvéd by the Tnjstéès on r A Qu8yle Trustee Trust?8 Company Registratlon No. 01485291
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles Charity infomiation Beaford Arts Is a prlvate company limited by guarantee incoryjorated in England and Wales. The registered office is 95 High Street. Barnstaple, Devon, EX31 1 HR. The charity is a private company limited by guarantee and consequenuy does not have share capital. Each of the members is liabte to contribute an amount not exceeding £10 towards the assets of the charity in th8 event of liquidatitsn. 1.1 Accountlng conventlon The fin8nGi81 statements have beell prepared in 8ccordance with the tharity'8 governing docurnenl, Ihe Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their aGcounts in accordance with the Finanaal Reportlng Stsnd8rd applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191°. The charty 1$ 8 Public Beneflt Entty as defined by FRS 102. The charity has taken advantage ol the prowsions In the SORP for charftles apptying FRS 102 Update Bu118tin l rtol to prepar8 a Stst8ment of Cash Fbws. The finèncial statements are pp£red in steding. which is the function81 Currency of the ch8rity. Monetary amounts In these financlal Siatements are rounded to the nearesl £. The financial statemènts have b88n pr8P8red under the historical cost convention, modified to include certain fiftantial instruments at lair value. The principal accounting policies adopted are set out below. 1.2 Golng concem At the time of approving the financlal statements, the trustees have a reasoNable expectsuon that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees conlinue to adopt the going conTrrn basis of accounting in preparing the finanaal statements. 1.3 Charitable funds Unrestricted funds are available for use at the discrets'on of the trustees in futherance of their charitable objectives. Restricted funds 8re subject to specific conditions by dono¥s or grantors as to how they rn8y b8 used. The Jrposes and uses of the restrictod funds are set out in the notes to the financial statements. 1A Incomè Income is recognised when the charity Is legally enltled to it after any performance conditlons have been met, the amounts Can be measured reliably, and it is probable thal income will be received. Cash donations are recognised on reaeipt. Other donations are recognised once the charity has been notified of the donation, unless p8rforrn8nce conditions require deferral of the amount. Income tax recoverable in relation to donations received under Grft or deeds of covenant is recognised al the time ol Ihe donation. Government grants are recognlsed at the falr value of thg asset received c recelvable when there Is reasonable assurance that the grant conditions will be mel and the grants will be ¥eceived. A grant that specifies performance conditions is recognised in income when the perfomance condrtians ar8 met. WheTe a grAnl does Not spectfy performance condition8 it 18 rgcognised in income wh8n the proceeds are received or receivable. A grant received beore the recognition criteria are satisfied is rgcognised as a Income trading actlvrLies is accounted for in the pedod Ihat Ihe acfjvbty was undertaken,
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles Icontlnuedl Dlvldends and interosl are 17edlted to the Statement of Financial Activities accordlng to the date upon which they fall due for payment. Any associated tax refund is cr8dit8d wh8n th8 interest fal due for paymenL 1.5 Expenditure All expenditure is accounted for on an accru315 basis and has been rjassrfied under headings that aggregat all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the usa of rèsoLJfc8S. Charitable activities include the costs involved of providing the activities that Bealord Arts provides. Other costs include those Incurred in the governance of the charity and it's assets are primarity gs$orialed with Constituti81 and statutory requirernents. Inveslmenl management fees are Charged by the Investment rnanage on a quarterty basis. 1.6 Tangible flxed assets Tangible flxed assets are initf8lly measured al cost and subsequently measured at cost, net of deprecAation and any Impairment losses. Depreciation is recognised so as to writè off thè cost of assets less the residual values over their usèlul lives on the following bases". Freehold L4nd and bulldlngs Plant and equipment Freehold Lind is not depreclated 10°/., 2OYo or 33Yo Straight line The gain or 1055 arising on the disposal ol an asset is deterrninBd as the difference beeen the sale proceeds and the carrying valu8 of the asset, and is recognised in thE Statement Df financial activities. 1.7 Fixed asset Investments Fixed asset inveslments are initialy measured at Iransaclion pric8 excluding transaction costs, and arè subsequenlly measured at fair value at each reporting date. Changes in fair value are recognised Sn net incomellexpenditurel for the year. Transaction costs are expensed as incurted. 1.8 Impalrment of fixed assels At each rtporting end date, th& charity reviews the CArrying amounts of its 18ngible assets to detem)ine whether there is any indication th8t those 8ssets have suffered an impairment loss. If any such indlc41ion exists, the recoverable $mount of the asset Is estimated in order to determine the extent of the impairment loss I any). 1.9 Stoek$ stocks are stated at the lower of cDst and estimated selling price less costs lo Compte and sell. Cost comprises direct materials and, where applicable, dlrect labDur costs and thijse overheads that hav6 b8en incurred in bringing the stocks to their present location and condition. Items held for distribution 8t no or nominal considerdlion are mea5UTed the lower of replacement cost and cost. Net reallsable valu? is th8 ¢Stimaled selling prfce less all estimated costs of completion and costs to be inwTred in rnarketing, s6lling and distribution. 10
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng polie18S (Continued) 1.10 Flnancial Instruments The charity has elected to apply the provisions of Secllon 11 'Basic Fin8nCI81 Instruments. and Seetion 12 'Other Financial Instruments Issues, of FRS 102 to all of its fln8n¢ial insttuments. Financial instruments are recognised in the charitls balance sheet when the charity becomes paty to the contraciual provisions of the instrument. Financial assets 8nd liabilitiES are off88t, wlh th8 net amount8 presented in the financial statements, when there is a legally enfoTceable right to set off the recognised amounts and there is an intention lo setde on a ngt basi5 or to reali5e the asset and settle the liabifity simultaneously. BJsl¢ flnan¢lal a55et5 BÉsic fin8nci81 ss5ets, which indude dBbtors and cash and bank b8lances, aro initially measur8¥J at Iran$8¢tion price including transaction costs and are subsequenljy carried 8t amortised cosl using the effective interesl method unless the arngement constitutes a financing transadiDlI, where the Irans8cllon 18 measured at the present value of the future rec?ipts dlscounted at 8 market rate of interest. Financial assets dasslfied as receivable withln one year are not arnortised. Baslc flnanclal 118bllltles Basic financi81 liabilities, induding credltors and bank loans are Inllially recogn15ed at transaction price unless the arrdngement constitutes a financing transaction, where the debt instrument is measured at the presènt 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 8re subsequently carried at amortised cost. using the effective interesl raÉe method. Trade CTedilorts ale oblig8lions to pey for goods or services that have been acquired in the ordinary course of operations frorn suppliers. Amounts payable are classified as current liabilities if payment is due wlthin Dne year or le55. If not, they are presented as non-current b'abilities. Trade creditors are reGognlsed lnltl8lly at transaction price and subsequenuy measured at amortlsed GQSt using the effective interest method. Dere¢ognAtion of financial liabilities Fin8ncial lisbilities ar8 derecogni88d wh8n the charity's contractual obligations exwre or are discharged or cancelled. 1.11 Employee benefft8 The cost of any unused holiday entement is recognised in th8 periocl in which the emph)yee's seNces are received. Terminatlon beneflts are recognlsed Immedlately as an expense when the charity is demonstrably committed to terminate the employment of an employee or lo provide termination beneffts. 1.12 Penslon Costs Payments to dèfinéd contribution p8nsion schèmè arè charg8d 8s expense as they fall due. 1.13 VAT The charity is registered for value added tax. In these financial 5tatemen15, wh¢re applicable, expenditure is shown ex¢luslve of VAT. 11
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 rltl¢•l o¢¢ountlxg estlmotos •nd Judgements In the application of the charitys aGcounting poliri8s, th8 trust8es are r8quir8d to make judgements. estimates and 855umptions about ihe carying amount of as5els and liabilities that are not readily apparent from other sources. The estimates and associated assurnplions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from theso eslimales. The estimates and underlying assumplions are rewewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate Is revised where the revision affects only ihat period, or in the period of the revision and future periods where the revision 8ffecls both current and future perfods. Income from donations and legacies Unrestrfcted Re81rfcted funds funds 2025 2025 Total UnTestrlct6d Restrl¢t•d funds funds 2024 2024 Total 2025 2024 Donations and gifts Grants 143 171.858 143 193,430 148 174,195 148 253,098 21,572 78,903 172.001 21,572 193,573 174,343 78,903 253,246 Income from charitable activities Unrestrlcied Unrestricted funds fund5 2025 2024 Beaford Archive income Beaford Evènts income 3,572 13,488 5,988 8,467 17,060 14,455 Income from Investments Unrestricted Unrestrlcted funds fund 2025 2024 Income from listed investments Interest receivable 1,576 2,648 16 1,592 2,664 12-
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Rsi5inB funds Unrestricted Unrestricted fund8 funds 2025 2024 Investment management 542 433 S42 433 13
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BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Audltor'5 rernuneration Tho aJaty$is of auditovs remun8ratlon is as folbws.. Fees Yoble to thg charlty Indendent examlner and 8sso¢late8: 2025 2Q24 Independent examination of the charity annual accounts 875 825 Non4udit services l other non-audit services 5,527 6,030 Trustees None of the tru51ees lor any persons connected wilh them) received any remuneration or benefits from the charity during the year. However during the year two trustees received a totsl of £329.98 in expenses. 10 Employ••s Numbtr of èmployeès The average monthly number of employees during the year was.. 2025 Numb•r 2024 Numb•r Charitable actimties Arts management and administration Employment ¢o$t$ 202S 2024 Wages 8nd $818ries 164,347 163,382 There werB no employees whose annual remunEration was £60,000 or more. 11 Net gainslllossesl on Investments Unrestricted Unrestricted fund5 funds 2025 2024 Revaluation of investments 1139 2,921 16-
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Taxatlon The tharity is exempt from taxation on its activities becaus8 all its income is applied for chxritable Purposes. 13 Tanglble flxed assets Freehold land and building6 Planl and equipment Totsl Cost At 1 April 2024 Additions 101,025 509 43,701 1,246 144,726 1,755 At 31 Mareh 2025 101,534 44,947 146,481 Depreciation and impalrnnf At 1 April 2024 Depreciation charged in the year 39,311 1,896 39,311 1,896 At 31 March 2025 41,207 41,207 Carrying amount At 31 March 2025 101,534 3,740 105,274 At 31 M8r¢h 2024 101,025 4,390 105.415 14 Fixed ass¢t invèslm?nts Llstsd Investments Cost or valuation At 1 April 2024 Disposals 69,137 169,1371 At 31 March 2025 Carylng amount At 31 March 2025 At 31 March 2024 69,137 The book cost of investments as at 31 March 2025 was £012024.. £69,137). Th8 market value is based on mid-markel closing prices provided by the London Stock Exchange for the Securities held at that date as provided by the investment manager. 17-
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Stocks 2025 2024 Finished goods and goods for resale 3,883 4,549 18 DebtOf5 2025 2024 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 90 2,411 3,000 1.558 6.000 7,557 5,501 17 Creditors.. amounts falling due wSthin one year 2025 2024 Notes Other taxation and sooal secur*ty D6ferrBd incom8 Trade credltors Other creditors Accruals 3.068 325 6,163 2.926 21,897 7,841 2,433 3,600 18 4.913 14,469 38,697 IB Deferred Ineomè 2025 2024 Paul Hamlyn Foundation -A Voice To Tell Our Story EduGatlon Bursary Exeter Fleld Guides 13,781 325 7,791 325 325 21,897 Deferred incorne is illCOTne r8C8ived in 8dv8nce of services being delivered. It is not recognised in the Statomenl of Financi81 ActivÉtie5 ISOFAI until the terms or conditions imposed by the gr8nt maker can be met. Deferred income is c8Thied lorw&rd as a liebility on thE bal8noe sheet until such time as it is recognised in the SOFA. 18-
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds The re$trirted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 Aprfl 2024 Incomlng r•sourc•s Resoufces 8xpend•d Transfers At 31 March 2025 Paul Hamtyn Foundation Exeter Fiekj GuidES 14,895 13,781 7,791 {13,7811 {4,5001 14,895 3,291 14,895 21,572 118,2811 18,186 Prevlous year.. At l April 2013 IncomÈng resources Resources expended Transfers At 31 March 2024 Paul Hamlyn Foundation DCC-AQNB One ND Arts, CulbJro & Wellbeing Exeter Field Guides 15,858 11211 78,871 2,105 179,8341 11,9841 14,895 12,0721 2.072 15,737 78,903 183,8181 2,073 14,895 Paul Hamtyn Foundatlon 2020121 A Voice To Tell Our Story a Ihree-year project in nsne northern Devon primary schools, which uses Èducation in rttive subject5 to SLJPPUrt and improve oracy levels in KS2 pupils. DCC-AONB The publication of 8 book detailing Be8fwd Arts arthive phritos of North Devon as an Area of Outstsndillg Natural Beauty. On• ND Arts, Cu*urè and WÈlJbalng Case Study A proj8ct to lead Ihe development of SOGlal presuiblng to help arts and culture play an important role in community healthcare. An overEStimalion of income lo b¢ roGeived wa5 included in th& prior year which has let to 8 defifjil in the fund. As such we have completed a fvnd transfer to Move funds from the unrestrictive fund to counter this shortfall. Exeter Field Guides A projeGI working with teachers and primary schoolchildren from urbanlrural schoo15 in Devon, to engage th8m in innovative interactive leaming in order to considar past, present and future landscape values. lg
BEAFORD ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Unrèstrletèd funds The unrestrictEd funds of the d)Brity comprise the unexpended b8lanc88 of donations and gTants which are not subject to specific conditions by donors and grantors as to how they may be use(J. These include designated funds which have been set aside out of unrestricted f¥Jnds by the trustees for specific purposes. At 1 April 2024 Incoming re50uice5 ResDurces expended Transfers Galns and At 31 March losses 2025 General funds 141,342 190.653 1240,9651 1139) 90,891 Prevlous year: At 1 Aprll 2023 Incomlng resource$ Resources èxpènd•d Transfers Galn$ and At 31 March lo55es 2024 General fijnds 154,821 191,462 1205,7891 12,0731 2,921 141,342 21 Analysls of net a55ets betsveen fuhds Unrestrlcted funds 2025 Rt¢tell ftJnd8 2025 Total 2025 At 31 March 2025: T8nglble assets CuTrent assetsllliabiltiesl 105.274 114,3831 105.274 3,803 18.186 90,891 18,186 109,077 Unr85tr1ctad funds 2024 Re5trlcted funds 2024 Total 2024 At 31 March 2024- T8ngible assets Investments Current a8selsllliabllitie31 105,415 69,137 133,2101 105.415 69,137 118,3151 14,895 141,342 14,895 156,237 22 Related party tran6actlons There were no disclosable related party Irans8Ctions during the year12024_ none). -20-