Charity registration number 288652 (Ensland and Wales) Company resi5tratioD ttmber 01782ns COLCHESTER ARTS CENTRE ANNUAL REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2025 J Streets. ere, with you.
COLCHESTER ARTS CENTRE LEGAL AND ADMINISTRATIVE INFORMATION The Trnstee5 Anthony aavane Anthony Roberts Elaine Barker Elizabeth Price Jaymini Nakum Julia Stephen Louise Goodwin Cllr Michael Spindler Nigel Hildreth Charity number (England and Wale$l 288652 Company thumber 01782715 ReStered offiee St Mary at the Walls Chuich Street Ctslchester COI INF Auditor Streets Audit LLP c/0 The Old Exchange 64 West Siockwell Street Colchester Essex COI 1HE Bankers Barclays PIC Barclays Bank pl¢ 9 High Street Colchester COI IDA Investment advisors CAF Bank Limited 15 Kings Hill Avenue Kings Hill West Malling Kent ME19 4QJ
COLCHESTER ARTS CENTRE CONTENTS Page Trustee$, Port StaternetLt of Tru$tÈES' responsibiliiies io Independent auditor'5 report Statementof financial actsvitse5 15 Balante sheet 16 Sttytement ofj c&sh flows 17 Note5 to the financial statemen15 18-31
COLCHESTER ARTS CENTRE TRUSTEES, REPORT {INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 Thi4RCH 2025 The trustee5 present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policie5 set out in note I to the financial statements and comply with the charitable company's governing documenL the Companie5 Act 2(X)6, FRS 102 The Financial Reporting Standard applicable in the UK and Republie of Ireland and thE Chartties SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitse5 preparing thesr accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021.. Overview Havins broken through the £1 million turnover for the first time in our history lrtst year, l am p]eased to report the arts centre has 5ustsined the increase in activity with a rn0ver this year of £1,011,520. Although eXpendIre was also down from £1,118,628 to £i,on,496, the charity reported a deficEt of £59,976 in the year12024.. Surplus of £376,445) resulting In closing total funds of £1,30153712024.. £1261,5131. White this loss can be mitigated by the vagaries of project funding income and expenditure plu5 differences between man3gement atcounts and audited accounts it is noted by the tru5tee5. A year on year Ios5 can only be sustained for so lon& so an ongoing review of all operating sy5tem5 and $tsfFing structures should be considered in line with close monitorin8 of finanees through monthly management accounts going forwards. While the Jnain delivery poittt of our work has been through the programme PTesented in our home of St Mary-At- The-walls, the organtsation has significantly grown its programme of outreach work with a partielllar focus on communities and areas of low engagement. Thi5 includes the management of three offsite Spaces in the ctty centre through which we now deliver our charitable objectives. This year the organi5ation has also shifted its thtnking and developed its programme through the appointsDent of an Assoetate Director with lived experien of exclusion. The p05t holder developed relation5hip5 with marginali5ed communities whieh directly resulted in engagernent from a wider demographic across audien$. Worthy of particular mention is the Snowy Joy projeeL A children's theatre production that filled the stage and the auditorium with global rnajority people in a way never before eXperiend at Colche5ter Arts Centre. The otlier Stand out project frorn 2024 - 25 was our national tour of ihe New York performance troupe Reverend Billy & The Stop Shopping Choir. This tour went to Hastings, Bri8htoTh Canterbury, Colchester, Cambridge, London & Birmingham. Colchester Arls Cenlre Mission Statement Colchester Arts Centre's mission is to provide. stimulate and nurture a diverse and dynaTnic series gf arts events and activities of the highest quality. We declaTe a bias toward5 new work. innovatson, experimentation and internattonal work. Jn doing so. it is our intention to research and respond to the needs of specifK gTOUP$ within the community.
COLCHESTER ARTS CENTRE TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) {CONTINUED FOR THE YEAR EIVDED 31 MARCH 2025 Objectives and activities I. To use the arts centre main space to promote a busy and diverse schedule of Performan arts. 2. To give preference to the needs of youth, arts of known quality, of a contemporarytr intemational ox innovative nature in all aspects OE prograrnrnrng. 3. To provide a balance of art forms, to programme events for pèrticular groups, and to present a positive itnase of this work. It will reflect the diversity of our comrnunity. 4. To rnake our operation a$ accessible as possible to all parls of the community. 5. To provide, both through an outsEach polLLyi and through a cTrordinated programme of workshops and classes, an educational role in the community. 6. To encourage and stimulate arttsts in creating new work. 7. To estsblish links and createjoint projects with other arts organisations Lx)th locally and nationally. 8. To operate within the framework of social resporisibility with partiojlar regard to environmentsl ille5 to which we shall be pro8ressive and responsive in addressing. 9. To use ima8Ènation and to develop a freshness of approach in addressing our aims and in doing so, to establigh a reputation for artistic excellence. National Fortfolio Status- Arts Council England 2024-25 represented year 2 (which runs across financial years} of a 3 year funding agreement whÈchwa5 due to end 2026 but ha5 now iEen extended to 2028. The funding agreement requires you tr> submit 10 annual acttvity outromes agatnst which you will rep)rt against every quarter. The actsvitie$ whxch we articulated and delivered Tn 2024- 25 were as follows: l. Young People & Music We will embrace young people's muslc and present a women-in-sound training prosramme. Working with local partners Icolchester Youth Arts Parinershipl and schools to develop and present a prograyntne of work which creates and pla&oLins youth music. Industry training in schoo]s. 2. Focus on Tendring The buildins of contacfs and networks to create arts activitie5. The delivery of arts events through new routes and different conversations. 3. Establish offsite working with marginalised Communities Developing Spo$ in city centre which art as Colchester Arts Centre outposts and serve margirkallsed COmTnunitie5.
COLCHESTER ARTS CENTRE TRUSTEES, REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 WCH 2025 4. A Popular Culre PrograTnrne To generate rnass engagement through popular culture. To listen and respond to requests that encompasses stand up comedy. tribute show5. ¢las5ic bands. mainstream acts. To make these accessible to wider audiences. 5. Develop Diversity in Senior MaDagementTeam Creaie an Associate Director with a focus on inclusion and aeeess brin8tng marginalised voices into the key decision aking process. 6. Experimentsl Musi¢ Programme Present an eclecb"c, diverse and hlgh quality programme of music COnrts. High production values. Quality artisL8. PlatForm for new v02ces. Marginolised voice$. Youth CUItte. Young bands. 7. Talent Development A dedicated, branded, regular programme of properly paid, futly supported. risk tskin& original Shows. Groundbreaking artists (who might struggle to get &g51 offered an outjet which embrace5 risk. Wonderful Wedne5day5. 8. Asso¢iète Artists & Bespoke Support In depth professional support and development to arts.sts through trustee membership / mentorÉng / resource sharing. Specifically.. Bobby Baker (Co ¢hair}. Miss High Leg Kick. Frozen Light {Chairl, Spill Festival {Co chairl, Colchester Youth Arts PartTheiship* Nicky Werenoska, Alice de L'umiere Other ad hoc mentoring / advice / SIPos.S for regional artists x 20 9. Digrtal Di5tributson Develop digital distribution to reach new audtences through poety. Our lockdown Daily Poety ProFCt reached 27,000-we will feed and grow this new audrents, create new conten¢ use contemporary spoken word artists and known poets for mass appeal 10. National & Internal Producin8 Undertake proactive support and production work for.. Miss High Leg Kick Reverend B¥lly & The Stop Shopping Choir- UK Based Producer$ David Westhead- Krapp's LastTapes- development and touring. Public benefit The trustees have paÈd due regard to guidance issued by the Charity Commission in deciding what actsvities the charitable colnpany should undertake.
COLCHESTER ARTS CENTRE TRUSTEES, REPORT {INCLUDING DIREcfoR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 hL4RCH 2025 Achievements and performance Sigrtificanl ficEivilies fj&iiccJeFnentS A8rt1115k objecti5 Audienee Data & Arti8tic Hi Number rformances Total attendance5 paid Number of learning / community / outreach events otal articr otal attendance$ othe nts 385 39,605 122 1960 IIOCM) IE$t) Artistic Highlights sOe lu"ghlights ftrom the 2024- 25 included shows from.. Espen Eriksen Igorr Cavalera Tujiko Noriko JetY kniair Obituary Eliza Carthy CILnton Baptiste Reverend Billy & The Stop Shopping Choir Black Elvis Christmas Special Peter Kennedy Dantal Oliver Melt Banana Education and Olltreaeh Priory Walk Our work on these offsite venues has blossomed into something extraordinary. Annual number total. Estimate s,0 visits. Lawrence Walker Gallery: A Hub for Commtsnity Ensasement The Gallery is actively used throughout the week, hosts.ng a range of activitie5 designed to promote social inclusion nd improve mental well-being. Pamoja Project Meetings - Every Monday. the Pamoja Project holds its meetings at the Gallery, bringing together indivIduals and groups focused on collaboration and cornmunity development. The Caribbean Group meets every Tuesday, engaging in activities sueh as playing domrnos, sharing rnea15, and listenin8 to music. This group 5erve5 as a source of mental health suppor¢ therapy, ar Social interaction. reducing isolation for many of its tnember5. Mother & Toddler Group- A dedicated Mother & Toddler Group meets on Wednesdays, providing a supportive environment for parents and care'VerS while allowing yottng children to socialize and engage in early childhood development acts"vitses. The Gallery operates 0$ an open community space on Mondays, Thursdays and Fridays, where visitors can drop in for tea. coffee. or a friendly conversation. This initiative has been instrumental in fostering a sense of belonging and inforrnal peer support
COLCHESTER ARTS CENTRE TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) {CONfINUED) FOR THE YEAR ENDED 31 M4RCH 2025 Lawrence Celebration Centre: A Space for Support & Advocacy The Lawrence Celebration Centre serves as a multifunctional Spa that provides casework support office faeilities. and professional training OPPOTtunitses. The Centre functions as an office space for community leader5 and 50Ctal supportstaff. It 15 home to five 50cral work students from Essex Universtty, who are currentty completing thetr placements and enga8 with the local tommunity through casework and outreach. The Centre provides advtsory services. advocacyi and crisi$ suppor¢ ensuring communtty members have aCsS to the help they need. Safe Spaces and Community Impact Both Priory Walk spaces- Lawrente Walker Gallery and Lawrence Celebration Centre are designated safe spaces in the cotnmunity. They Serve as.. Hate Crime Reportsn8 Centre5, offering a secure and confidential place for individuals to report incidents. Warni Spaces, ensuring that People experiencing hard5hÈp have a welcoming environment to seek iefuge, especially durins colder month5. Breastfeeding-friendly space5, where mother5 can walk in to breastfeed and change their babies in a safe and welcotning environment Queen Street The space we manage at No 8 Queen Street ha5 been used b}p community arts organisations atno charge principally foT rehearsal. Groups using the spatr include Snomy Joy Children Project, Packing Shed Theatre Company. Three Wishes Theatre Companyi Faul T Davies writing projects. Tendring In March we delivered a series of workshop5 based on creative ways of money management and carbon reduttion. We worked with local paTthers ond based the activity at Princes Theatre Clacton. We have been active in developing community partnershtps. We have develOd link$ with the followins community 8roups'. Essex Library Setvices Princes Theatre Youth Theatre Group Jaywiek Golf Green Association Kingsway HalL Harwich Electric Palace, Harwtch Clacton Creative5 B Collective Dance School, Clacton Unity Bus Clacton Wix and Wrabness Primary &hool Harwlch Festival Clacton Coastal Academy Together We Sew Colchester Bike Kitchen
COLCHESTER ARTS CENfRE TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) (CONfINUED) FOR THE YEAR ENDED 31 MARCH 2025 Christmas Carol Community Outreach Projert- Venue$ In Dernber we offeted a free show delivered by Anthony Roberts with Jamie Cunliffe accompatlying on piano. The Show helped raise funds for local eharities. The places we visited were as follow$'. Shotiey Village Hall Colchester Methodistchurch BrighIingsea St James Church Thorrinston Village Hall St Leonards Church, Hythe Hill Methodist Church Wivenhoe Woebley Herefordshire North School Colchester Colchester Castle Sea Scouts Hall. Hadleigh Paycockes House, Coggleshall Assington Church Little Cornard Church Stanway U3A Great Benttey Church Belchamp Walters Village Hall St Peter's West Mer5ea Frinton Surnrner Theatre Freda Gunton Lodge Care Home. Colchester Refugee Action, Colchester Kesgrave Community Centre The New Bell Inn. Harwich Sudbury Arts Centre Bure5 BaTn Hall ayland Village Hall Ardleigh Bowlins Club Samaritars Hall, Colchester Abberton Village Hall Harwich Arts Centre Manningtree Arts Bookshop National and International Research We On again hired a flat for one week durRng the Edinburgh Frin8e and Internation31 Festival. All staff were offered the opportunity to stay. We have already tnvested in forthcoming trLP5'. Edtnburgh Fringe and Intemational Festival Sismagraf Fe5tival- Catalonia Dark Mofo Festival- Tasmanta
COLCHESTER ARTS CENTRE TRUSTEES, REPORT IINCLUDING DIRECTOR'S REPORT) (CONTINUED FOR THE YEAR EIVDED 31 hL4RCH 2025 Financial review Re5etves Unre5trtcted reserves have increased frorn £935.735 to £l,108h64. Earned Income Our box offitt has deereased from £385,205 last year to £480396 this year a deexease of £4,809. Our bar income ha5 decreased from £216568 to £188,9 a decrease of £27,659. Our venue hire income has a]$0 decreased going down from £57,066 to £51,718 a decrease of Q348 The combined total of our three main strands of earned incorne 15 down from £658.839 last year to £624,023 this year down £J4,816. This downward trend is significant and will be monitored closely 80ing forward. The business model will need review if the trend continues. Fundraising We received further financial support from the following trusts for the following pri4ecLs'. 6,086 Twinkle Star £5,(W Tendring District Council UK Shared Prosperity Fund £3,200 The Linbury Trust Fibre Broadband connectson £1.500 Essex Cultural Diversity Project Diwali Celebration £2.(K)O Open Airstand-up Comedy at St Botolph's PTiOry Funding £5CQ The Ogilvies Charities for Ma¢ Bus Donations across the year totalled £21,457 General Re$etve$ Our general reserves now Stand atf273,768 Capital Development Our major mid-term ambition rematns the introductton of a balcony to allow better access and sightlines for people who use wheelchairs. The Offi has been refitted with adjustable height desks and chair5. An office larnp wa$ commissioned and delivered by arttStChris Dobrowo15ki. We have tdentilied the need to revitalise some basic equtpment and fundraise for other piece5 of kit that would eut OUT hire dependency. Reseru¢s polithj It 15 the policy of the charitable company that Unrestrlcd funds which have not been de5Tgnated for a specific use should be maintained ato level equivalent to between three and six month's expenditure. The trustees con$xder that reserves at this level will ensure that, in the event of a significant drop in fundingi they will be able to continue the charttable company's current aetivities while consideration is given to ways in whith additional funds may be raised. This level of reserves has been maintained throughout the year.
COLCHESTER ARTS CENTRE TRUSTEES, REPORT (INCLUDING DIREcfoR's REPORT) (CONTINUED) FOR THE IEIR ENDED 31 M4RCH 2025 StrurtUTe, goveinance and managejnent The charitable compony is a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The trustees, who ore also the dRrertors for the purpose of company law. and who served during the yeai and up to the date of signare of the financial statements were.. Anthony Clavane Anthony Roberts Elaine Barker Elizabeth Price Jaymini Nakum Julia Stephen Loutse Goodwin Cllr Michael Spindler Nigel Hildreth Re¢n4itment 1vplItrneJlE of trnslges Trustee5 are appointed for their skills and experience. recerve induch.on and ongoing training, and we monitor board demographies to ensure diver51ty. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the eventof a wirhdiThg up. 013oni$4tioNal strncturt A board of trustees meets quarterly to administer the organisation which rs a charity and company limited by guarantee. The board of trustees employ5 Colthester Arts Centre's core members of staff who manase the day-to- day operations of the organisation. Otlicr niHttcrs Staff The rnajor ehange tn staff has been the appointment of Vijay Patel as Assoetate Director which hès grown out of the work done as Thinker In Residence. This ha5 brought O Tenewed vigour and resource to our inclusion and access work. Darryl Ward. having served with us for 3 years assumed the role of Deputy Technical and Production Manager. There were no other chaiiges to key stsffing positions.
COLCHESTER ARTS CENTRE TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) (COTrUINUED) FOR THE YEAR ENDED 31 MARCH 2025 Board In April 2024 a board treat w&$ tarried out facRlttated by Kath Wood and held at Wtvenhoe Yacht Club. A tomprehensive review of our aim$ and objectives wa5 undertaken, break out groups looked at SWOT analysis (Strengths, Weaknesses, Opportuniiie5. Threats), short term. mid krni and long terni goals were identified and prioritised atcordingly. A skills audit was undertaken and gapg duly identified legal and finawiaI expertise. There was 100% attendance from all trustee5 (bar one) and senior management also participated in full (Anthony Roberts - Director, Stafford Glover - Executive Producer. Joanne Parry - Gener31 Manager. Vijay Pakl - AssociatE Director Leszek Weren05wki attended a couple of board rneetings rnitially before betng appointed to the board on 9 April 2025. A board retreat where a review of our aims and objectives. the gaps and Strengths has been scheduled for April 2026. Atsditor In accordance with the company's article5, a resolution proposing that Streets Audit LLP be reappointed as auditor of the company will be putata General Meeting. Disclosure of infornialion to auditor Fach of the trustees has confimed that there 1$ no information of which they are aware which is ¢levant b) the audit, but of wliich tlie auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant iroormation and to estsblish that the auditor 15 aware of such information. The Tru5tee5' report was approved by the Board ofTrustees. Nige ildreth Chair of trustees 8 Cktober 2025
COLCHESTER ARTS CENTRE STATEMETrif OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 hL4RCH 2025 The trustees. who are also the director5 of Colchester Art5 Centre for the purpose of company law. are responsible for preparing the Tru5tees' Report and the Financial statements in arcordance with applicable Saw and United Kingdom Accounting Standards (United Kingdom Generally A¢tepted Accounting Practice . Company law requires the trustees to prepare financial statements for each financial yeèr which give a tnle and lair view of the state of aEfair5 of the eharitable company and of the incoming resources and application of resour$, includtng the intome and expenditure, of the charitable company for that year. In preparing these ftnancial statementg, the trustees are required to.. - select suitable accounting policies and then apply them consi$tently.' - observe the methods and principles in the Charities SORP,. - make judgements and estitnates that are reasonable and pThdent.' stste whether applicable UK Accountins Standards have been followed, subject to any material departures dlsclosed and explained in the financial statements,. and prepare the financial statements on the goins conttrn basis unless it is inapproprlate to presume that the charitable company will continue in operation. The tru$tee8 are responsible for keeping adequate accounttng records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps lor the prevention and detection of fraud and other irregularities. -io-
COLCHESTER ARTS CENTRE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COLCHESTER ARTS CENTRE Opinion We have audited the finan¢ial statements of Colchester Arts Centre lthe'charitable ¢ompany'l for the year ended 31 March 2025 which comprise the Statement of flnancial dctivilie5, the balance sheeL the ststement of cash flows and note5 to the financial statements. including Significant accounting policies. The finonctal reporting framework that ha5 been applied in their preparation is applicable law and Unitsd Ktngdom Accounting Standards, including Financial Reporting Standard 102 Tli¢ Fiitan¢iol R¢porttJig SkaJ7durd IyplicoblE iji tlie UK aiid Aepubltc of lJYlfiMd (United 'ngdom Generally Accepted Accounting Practi1. In our opiniory the financial statements.. 8ive a true and fair view of the state of the charitsble company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended,. have been properly prepared in accordance wtth United Kingdom Generally A¢ttPd Accounttng Practice. and have been ppared in accordan with the requirements of the Companies Act 21X)6. Basis for opinion We conducted our audit Rn accordance with International Standard5 on Auditing IUKI IISAS IUKI} and applicabIe law. Our Te5ponsibilitie5 under those 51andard$ are further destribed in the Auditor'5 rcspon5ibililiesfvr Ihe aiidtt OJ tliefi17ancifiI sÉaletNeMIs section of outr report. We are independent of the c[tAble company tn accordance with the ethical reqUireents that are relevant to our audit ol the financial statements in the UK, including the FRC'5 Ethical Standard, and the provisions available for small entities, in the circumstances set out tn note 24 to the finaneiaI $tstements. and we have fulfilled our other ethical responsibilitses in accordance with these requirements. We believe that the audIteviden we have obtained is Sufficient and appropriate to provide a basis for our opinion. Coneltssion$ Ielating to going concern Jn auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting itt the preparation of the financial statements is appropriate. Based on tile work we have performed, we have not identified any material uncerta2nties relating to events or conditions thaL individu#Ily or collectively, may cast significant doubt on the charitsble company's ability to continue as a going concern for a period of at least tsvelve months from when the financial statements are authorised Eor tssue. Our re$ponsibilitie$ and the responsibilities of the trustees wrth respect to going Conrn are described in the relevant 5ection5 of this report. Other infomiation The other information comprises the information included in the annual report other than the financial ststements and our auditor's report thereon. The trustees are respon$rble for the other information contained wrythln the arUal report Our opinion on the financtal ststements does not cover the other inforniation and, except to the extent otherwise explicitly stated tn our reporL we do not expres$ any forni of assurantt conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial $tatements or our knowledge obtained in the course OE the audi¢ or otherwise appears to be materially mi55tated. IF we identify such material inconsistencies or apparent matsrial missthte¥nents, we are required to determine whether this sives rtse tts a material misstatement in tlie frnancial statements theJn5elves. If. h5ed on the work we have performed, we conclude thai there is a material mi55tsteEnent of tliis other information, we are required to report that fact. We have nothing to report in this regard. li-
COLCHESTER ARTS CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED> TO THE MEMBERS OF COLCHESTER ARTS CENTRE Opinions on other m?tter$ prescrRbed by the Companies Aet 2006 In our opinion, bosed on the work undertaken in the course of our auditr. the information 8iven in the Tstee$, report for the financial year for which the fKnancial 51atements are prepared, which includes the directors, ieport prepared for the purposes of company law, is consistent with the financial statements, and the directors, report included within the Trustee5' report has been prepared in accordance with applicable leg81 requirements. Matters on which we are requlred to repoIi by exoeption In the light ol the knowledge and understanding of the charitable company and its environment obtained in the course of the audiL we have not identified materÈal misstatements in the dArectors' report intluded within the Trustees, report. We have nothing to port in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accountKng records have not been kept. or rettuns adequate for our audit have not been rKeived from branches not VlStted by u5,. or the financial statements are not in agreement with the accounting xecords and returns- or certsin disclosures of trustees, remuneration specified by law are not made,. or we hove not received all the information and explanatiODS we require for our audiL' oy the trustees were not entitled to prepare the financial ststements in accordance with the small companies regime and t3ke odvantsge of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategLC report. Responsibilities of trustees As explained more fully in the statement of Tru5tees' responsibilities, the trustees, who are a]so the drrectors of the charitable company for the purpose ol company law, are responsible for the preparation of the financial statements and for being satisfied that they 've a true and fair view, and for such internal control as the trustees determine is nece$5)ry to enable the preparation of h"nancial statements that are free Erom material misstatetnent. whether due to fraud or em)r. In preparing the financial statements, the Stee5 are re5POn5ible for assessing the charitable company's abtlity to continue as a going concem disclosin& as applicable. matters related to 80ing eoncern and using the gotng concem basis of accounting un]ess the trustees either intend to liquidate the charÈtable company or to cease operations, or have no realistic alternatrve but to do so. Auditor's responsibilities for the audit of the financial 5talement$ Our objectives are to obtain reasonable assurance about whether the financial statements a$ a whole are free from rnaterial misststement, whether due to fraud or error, and to issue an auditor's report that include5 our opinion. Reasonable assurance 15 a high level of assuranee but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material n)isstatement when it exists. Mi5ststements can arise (rom fraud or error and are tonsidered material if, individually or iii the assregate, they could reasonably be expected to infiuence the economic decision5 of users taken on the basis of these financial slxtements. The extent to which our procedures are Capable of detecting Érregularitie$. incLudin8 fraud, is detsiled below. -12-
COLCHESTER ARTS CENTRE INDEPENDENf AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF COLCHESTER ARTS CENTRE The engagement partner ensure that the engagement team collectively had the appropriate competenee, capabilxtie5 and sktlls to identify or recognise non<ompliance with applicable laws and regulations. We identified the laws and regulations applicable to the charity through discussions with trustees and other managemen¢ and from our commercial knowledge and experierKe of the seetor,. We focused on specific laws and regulations which we considered may have a direct material effecton the financial statements or the operations of the charÈty. including the Companies Act 21X)6, Charities Act 2011, Elnployment Law and Dats Protection. We assessed the compliance with laws and regulations Identified aJx)ve through making enquLre5 of management and inspeeting correspondence. These were communicated within the audit team regularly and the team remained alert to instances of non- compliance throughout the audit. We considered the internal controls in place that would mitlgate the risk of fraud and nortrcomp11an with laws and regulations. We identified the greatest potential for fraud or non-compliance with laws and regulations in the following areas, and the specific ProdureS performed to address them are described below. We obtained an understanding of the income proces5 and the flow of financial inforn)ation to the general ledger and how this is classified as restricted and unre$tricted. - We reviewed funding agreements to ensure income and expenditure had been recorded correct]y and utilised in Itne with agreements. Cut-off testing was perftsrmed at the year-end date by revlewing income which had been accrued for and exPendire which had been reeorded after date to identify if any tran5action5 had been recorded in the incorrect period. In line with 811 audit5 under ISAS IUKI, we are also required to perform Specific procedures to respond to the risk of mana8ement override. Jn addressing the risk of fraud through mana8ement override of controls, we reviewed ccounting records for any unusual adjustments and perfornd testing onjournal entrtes. In addition to the above, our procedure5 to respond to the risk identified included the following.. reviewing financial statement disclosure5 by testing to supporting documentation to asse$5 comptiantr with provisions of relevant laws and regulations described as having a direct effect on the financial staternents,. performed analytical procedure$ to identify any unusual Or unexpected relationships that may indicate risk of Jnaterial tnisstaleTnent due to fraud,. made enquires to management concerntn8 actual and potential litigation and claims, and instances of non- compliance ft)r the year. Because of the Inhent limitations of an audi¢ there is a risk that we will not detect all trregularities. including those leading to a material misstatement in the financial statements or non-complÈance with regulatson. This risk increases the more that ¢ompli3ntt with o law or regulatj.on is removed from the events and transacttons rÉfle¢ted in the financial statements, a5 we will be less likely to become aware of instances of non<ompliance. The risk is also greater regarding irrestslarities occurring due to fraud ratheT than eTror, as fraud invoIves intentK)naS concealrnent, (orgery, collusion, omi55ion or misrepresentation. 13-
COLCHESTER ARTS CENTRE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF COLCHESTER ARTS CENTRE
A further description of our responsibilities is available on the Financial Reporting Cow1cil's website at: https:/ / www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Daniel Insley BA FCA (Senior Statutory Auditor)
For and on behalf of Streets Audit LLP, Statutory Auditor Chartered Accountants
c/ o The Old Exchange
64 West Stockwell Street Colchester Essex
COllHE
8 October 2025
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COLCHESTER ARTS CENTRE STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT EOR THE YEAR ENDED 31 MARCH2025 UThrestricled Reslricled funds fuThd$ 2025 20 Total Unrestricted Re5tritted funds fund5 2024 2024 Total 2025 2024 Notes Income and endowrnents from: Dgnation$ and lesacies Charitable activities Investments OthÈr income 296,059 624021 36,189 26J50 28,89) 324,958 624,0 36,189 26,350 323565 658,839 41,996 470,673 )4,238 658,839 41,996 Total income 981621 28%99 i.(ni,520 1,024,400 470,6T3 IA95,073 Expenditure o Charitable arttvities 950.165 121,331 I,onA96 963.998 154h30 1.118,628 Total expenditure 950,165 121.331 1.071,496 963,998 154h30 1.118.628 Net Incomel(expexhditLtrel 32.456 192,4321 159,976} 316,043 376,445 Transfers between funds 140,473 1140,473) Net movement In funds 172,929 (232,SX)5} 159.976) 60,41r2 316,043 376,445 Reconciliation of funds: Fund balances at l April 2024 935,735 425,778 1,361513 875,333 109,735 985,068 Fund balances at 31 March 201% 1,108,6&1 192A73 1,301,537 935.735 425,778 1,361,513 The statement of financial activities includes all gains and losses recognt$ed in the year. All it0e and expendire derive from continuing activities. 15-
COLCHESTER ARTS CENTRE BALANCE SHEET AS AT 31 MARCH 2025 2015 2024 Note5 Fixed assets Tangible assets 13 131389 302.468 cllent asset$ Stocks Debtors Cash at bank and in hand 14 9,241 50,516 12IX),744 15 18,280 1,229,030 1.255.11 1,2fA),501 credito amounts falling due wlthln one year 16 1185,9551 {201,456) Net current assets 1,069,148 1,059.045 Total a55et$ less cttrrent liabilitieB 1,301,537 1,361513 The fund5 of the tharitable Company Restricted ineome funds Unrestricted funds 18 19 192.8TJ 1,108.664 425.778 935,735 1301,537 1.361.513 These financial statements have been prepared in accordance with the provT5ions applÈcable to companies subFct to the small COTnp3nies resime. The financial statements were approved by the trustees on 8 (ktober 2025 Hddreth Chair of trustees Company regt'stration number 01782715 IEngland and Wale$) 16-
COLCHESTER ARTS CENTRE STATEMENT OF CASH FLOWS FOR THE ENDED 31 AL4RCH 2025 2025 Notes Cash £Iow5 from operating activities Cash absorbed by operations 15%391 1110,353) Jnve5tins activities Purchase of tan8ible Etxed assets Investh)ent income received 12,064} 36,189 41,996 Net cash generated from inveslÉns activities 34,125 41.996 Net cash senerated from financins activities Net tncreaselldecreasel itt cash and cash equivalents 28,286 (68J57) Cash and cash equivalents at beginning of year J,200,744 1,269,101 Cash and cash eqtsivalents at end of year 1,229,030 1.200,744 -17-
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 hL4RCH 2025 Aceountins poll¢ies Charity information Colehester Arts Centre Is a private company limited by guarantee incorporated in Englond and Wales. The registered ofhce is Stmary at the Watls. ChurchStree¢ Colchester. COI INF. Ll Aecouthting convention The financial statements have been prepared in accordance with the charitable company'5 governins docutnent, the Companie5 Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities SORP Aceounting and Reportin8 by Charities.. statement of Recommended Praetice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic o( Ireland {FRS 102)" The charitable company is a PublEC Benefit Entsty as defined by FRS 102. The financtal statements aTe prepared in sterling, which is the functional curteney of the charitsble company. Monetary aTnOUrtts in these financial statements are rounded to the nearest£ The financial statetnents have been prepared under the historical c05t convention. The principal accounting policies adopted are set out below. 1.2 Goins concern At the time of approving the financral $tatements, the trustees have a reasonable expectation that the char2table company has adequate resourtts to continue in operational existence for the foreseeable future. Thu5 the trustees Continue to adopt the going conttrn basi5 of accountins in preFaTing the financial statements. 1.3 Charitable futtd$ Unrestricted funds are available for use at the discretion of the trustees in furtherantt of their charitable objectives. Restricted funds are 5ubJ"e¢t to $pecifie conditions by donors or grantors as to how they may be used. The purpose$ and uses of the regtricted funds are set out in the note5 to the financial statements. Endowment funds are subiect to 5pe£Lfic condittons by donors that the tapttal must be maiiitained by the charitable company. IA Income Income 15 recognised when the Charitsble company 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 reeognised on retript. OthÈr donations are recognised once the charit&ble company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to doJ)ations recelved uiider Gift Aid or deeds of covenant is recognised at the time of the donation. Legacie$ are reeognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amounti$ known. and receipt is expected. If the amounti5 not known, the legacy is treated as a contsngentasset. 18-
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 hL4RCH2025 A¢¢ounting pollcle$ (Continued) 1.5 ExpenditUTe Expenditure is recognised once there is a legal or constructive obligation tts transfer economic benefit to a third party, it is probable thata transfer of economic benefits will be required in settlemenL and the amountof the obligation ¢an be Tneasured reliably. Expendiknre is classified by activxty. The costs of each activity are made up OF the total of dIrt costs and shared costs, including support Costs involved in undertakins eath activity. Direct costs attributable to a sinsle activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not atthbutable to a Single activity are apportioned between those actNities on a basis Consistent with the use of SOurCes. Central staff costs are allocated on the basts of time SFenL and depreciatton charges are allocated on the portion of the asseys use. 1.6 Tangible fixed a55ets Tansible fi'xed assets are initially measured at Cost and subsequently measured at cost or valuation. net of deprec10ti0n and any impairment losses. Depreciation is recosnised so as to write off the cost oy valuation of assets less their residllal values over their useful live5 on the followIng ba5es'. Leasehold land and buildings FiXreS and fittings IO% redutin8 balance 20°A to 33.33% strazght Irne The gain or loss arising on the disposal of an asset is determined as the difFerence between the sale proceeds and the tarrying value of the asset, and is recogni5ed in the statement of financial activities. 1.7 Impairment of fixed assets At each reportins end date. the charitable company reviews the carryin8 amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment lo$$. If any such Indication exists, the recoverable amount of the a55et 1$ estiTnated in order to determine the extent of the irnpairment loss lif any). 1.8 Stock$ Stock5 are stated at the lower of cost and estimated selling Pri le5S Costs to complete and sell. Cost comprises direct materials and. where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal tonsideratson are measured the lower of replacement C05t and $¢. Net realisable value is the estimated selling prite less all estimatsd costs of completion and costs to be incurr¢d in marketing, sellÈng and distribution. -19-
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 hL4RCH 2025 Accolln¢h)g poli<ie$ (Continued) 1.9 Financial inslTument$ The charitable company has elected to apply the piovisions of Seetton 11 'Basic Financial Instruments. and Section 12'0tlier Financial Instruments Issue5, of FRS 102 to all of Rts (inancial instruments. Financial instrurneiits are recognised in the charitable company's balance sheet when the charitable company be¢ome$ party to the contractual provisions of the instrument. Financial assets and liabilities are off5e( 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 ba515 tsr to re3lise the assetand settle the liability simultaneously. Basie financial Instruents are initsaily recognised at transactson value and subsequently measured at aTnortised cost. Financial assets comprise cash at bank and in hand. together with trade and other debtors. A specifie provision is made for debts for whsch recoverability is iii doubt. Cash at bank and in hand is defitEd as all cash held in insiartt access bank accounts and used as working capital. Investments, including those in subsidiary undertakings are held at fail value at the balance sheet date, with gains and losses being recognised wtthin IL)come and expenditure. Financial liabilities held at amortised cost comprise all creditors except social security and other tsxe5, deferred Income and prov2$ions. 1.10 Employee beneEits The cost of any unused holiday entitlement is re¢ognt'sed in the period in which the employee's services are received. Termination benefits are recognised tmmediately as an expense when the charitable company Is demonstrably cornmitted to lermtnate the ernploytnent of an employee or to provide termination benefits. 1.11 Retlrement benefits Payments to defined contribution retirement benefitschemes are charged as an expense as they fall due.
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 hL4RCH 2025 Critical accountins eslimate5 and judsement5 In the applicatton of the charitable company's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent From other Sour5. The esknmates and assoctated assumptions are based on historical experience and other factors thatare considered to be relevant. Athal results may diffeT from these estimates. The estimates and underlying assumption5 are reviewed on an ongoing basis. Revisions to arcountin8 estimates are recognised in the period in which the estitnate ts revised where the revision aEfÈtts only that pertod, or in the period of the revision and future periods where the revT5iOll affects both current and future periods. Crttital jtsdgement$ Depreciation Fixed assets 3re deplated over the course of their useful eeonomic life. In order to calculate the depreciation chargej iudgernents are requrred on the length of the likely useful life and the likely proceed5 lif any) of the asset if sold at the end of its life. Income from donations and lesacie8 UnTestrirted Restri¢ted funds ds 2025 2025 Tolal Unrestricted Reslrirted fund5 fund$ 2024 2024 Total 20S 2024 Donation5 and gifts Legacies Grants MernEer5hip fees 172n 4,086 1,027 23,786 21,457 1,027 291,165 11,309 315,764 315,764 267,379 11,3(YJ 470.673 470,673 7,801 296.059 28.899 324.958 323.565 470,673 794,238 -21-
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 hL4RCH 2025 Ineome from charitable activtti¢$ Unrestricted fundg 2025 Umre8tricted funds 2024 Box Office Income generated 380,396 385.205 Rijom Hirin85 Income generated 54,n8 57,066 Income generated 188.909 216568 624,023 8.839 Inoome from investments u11cted UnTestrirted fund$ nds 2025 2024 Interestreceivable 36,189 41,g96 Other income Unrestrlcted Unrestricted funds funds 2025 2024 Other income 26,350
¢ry E 41 QD
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 Thi4RCH 2025 Suppwt CO8t8 allocated to 4ctlvltie8 2025 2024 Staff costs Other establtshment costs Rotes Other motor & travel c05ts Telephone Other office costs Repairs & maintenance Other finan Insuran Professional fees Advertising Governance costs 34.628 27,081 1,483 5,748 1,926 11,960 Is,0 14,623 3,992 515 13.155 33X>26 1.762 5,795 1,850 9.455 17,934 17,638 4,043 574 32,305 5,575 30,353 451 152,010 J43,112 AnolyBed betwee Box Office Room Hirings Bar 87.068 14.763 50,179 81,6 14,L36 47,246 151010 143,112 Net movement in fund$ 2025 2024 The net movement fund5 IS 5taied after Chargin{Creditingl'. Fees payable for the audRt of the charity's financial statements Depreciation of owned tangible fixed assets 4.407 72,143 5,575 76,829 10 Trustees During the year 4 trustees were reimbursed a totsl of a.415 for variou5 travel expenses and artist fees12024- 4 were rermbursed £5B961. Trustees donation5 totalled £140 {2024- Q.874. Anthony Roberts who was appointed as a trustee on 18th May 2021 is however an employee of the charity and is remunerated as such. His remuneration for the year ended 31 Match 2025 was £38,314 {2024.. £412451. No rother benefits from employrnent wtth the charity or a related erLtity were received by the trustees in thetr role a5 a trustee. -24-
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR THE YEAR ENDED 31 fvL4RCH 2025 11 Employees The average monthly number of eTNployees durRng the year wa5.. 2025 Number 2024 Number 36 29 Employment costs 20 2024 Wages and salaries Social security costs Other pension costs 331.072 J7,PJO 15,518 247.937 16,380 3,380 273%5 During the year an accounting restructure took place and employment Costs now includes expenditure Incurred for casual labour too. There were no ernpltsyees whose annual remuneration was more than £60,000. Remuneralion of key management personnel The rtmuneration of key rnanagetnent personnel was as follows.. 2025 2024 Aggregate compensation 133.820 123,408 12 Taxation The charity is exempt from iaxation on its activities because all Ets income is applied for charitable purposes.
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE ENDED 31 MARCH 2025 13 Tansible fixed assets IaSeo]d land Fixtures and d buildin8S Eittinss Total Cost Atl April 2024 Additions 361,162 358,786 719,948 At 31 Mareh 21r25 361,162 360.850 722,012 Deprecialion and xmpairmenl At l Aprtl 2024 Depreciation charged in the year 174.878 18.628 2416A)2 53.515 417,480 71143 At31 March 2025 193,506 296,117 489,623 Carrying amount At31 March 2025 167,656 64,733 232,389 At 31 March 2024 186,284 116,184 301468 14 Stocks 2025 2024 Finished Soods and good5 for resale 7.793 9,241 15 Debtors 2025 2024 Amount$ falling de within one yeaE.' Trade debtors Prepayments and accrued income 441 17,839 10.033 40.483 18.280 50516
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 M4RCH 2025 16 Creditor& amounts fallins due within one year 2025 2024 Other tsxation and social security Trade creditors Otiier creditors Accruals and deferred income 21308 27,454 121240 13.953 18,449 20,222 158,785 4.000 185,955 201,456 17 ReliremeDt bendit $eheme$ 201 2024 Defined contribtstion $¢hemES Charge to profitor loss in respect of defined contribution schemes 15,518 16,380 The charitable company operates a defined contrtbution pension scheme Eor all qualifying employees. The a55ets of the scheme are held separately from those OF the charitable company in an independently administered fund.
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 hL4RCH 2025 18 Restricted fund$ The $trIcted fund5 of the charity compiise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to liow they may be used. At l April 2024 Incoming re8ource$ Resources expended Transfer8 At 31 March 21Y25 Lottery Building Fund Community Bus Twinkle Star Project The Mum Proiect ACE Tendring Building Project Escalator Aviya Scavenger ACE Capitsl Open Air Comedy Tendring Districtcouncil Graham Fosker Legacy Linbury Trust Essex Cultural Diversity Project 9,482 61,0 19,114 7,280 4,405 3,0(N) 48,831 25,000 9,237 238,429 (1,053) 8,429 ii.lxio (s0,0) 16,172 134,551} 17,280} 14.4051 13.IXM)I (48,8311 125.IKKII 19.237) 168.747) 169,682 2,¢MO 15.OWI 1,027 l.ff27 13.2(K>l 11,5COI 425,Tr8 28,899 1121,3311 1140,4731 192,873 PreViOS year. At l Aprtl 2023 Incomins resources Re50urce$ expended Transfers At 31 Matth 2024 Lottery BuildRng Fund Communtty Bus Twinkle Star Proiect The Mum Project Older Persons Project Gatne Changer Building Project Escalator Aviva Seaven8er ACE Fame Hungary 10,346 50,000 23,417 15,760 10,212 {8651 9,482 61,000 19,114 7,280 11.000 33.000 {37,3031 {8,4801 (11,6121 18,695} J,4(K) 13,1(K) 3,0(K) 48.831 25.0(M) 9.237 312.104 14.0(K> 4405 3,000 48,831 ,000 9,237 238,429 (73,675} 114,OtK)) l(F),735 470,673 1154.6301 4.778
COLCHESTER ARTS CENfRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 M4RCH2025 18 Restricted funds Icontinuedl Community Bus - To delrver art on the route mastet bus and take the bu5 to plare$ of soctal and financial deprivation. Twinkle Star- To mould and erect a statue of stslers Jane and Ann Taylor. the author5 of the poem Twinkle, Twinkle. Little Star. A transfer of a40,473 was made to correct the presentation of historical balance5 wliich Iwd remained in restricted funds in error. Thi5 adjustment ensures that the funds are now appropriately reflected within unrestricted re5etves. 19 Unrestricted funds The unrestrictsd funds of the charity compxise the unexpended balances of donations and grants whtch are notsubiect to Specific conditions by donoTS grantors as to how they may be used. These include designated funds which have been Set aside out of unrestricted Eund$ by the trustees for specific purposes. At l April 2024 Incomins re$outce8 Resource$ expended Transfers At 31 Mah 2025 Equtpment & Capital replacement fund Emergency fund Projects Legacy Archiving Carbon Insettins Rev BÈlly Community Bus General funds 276,971 116,CrfM 230,595 50,000 20,000 10,O(K) 276,gn 116.004 246,921 16,326 10,ocNI io,¢ 70,000 10,210 ,wo Bo,0 110,210) 25,000 2TJ,768 232,165 841.085 1939,9551 140,4TJ J5,735 981621 1950,165} 140.4T3 1.108.664
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Unrestricted ftthds (Continued) Ptevious year: At l April 2023 Ineomkns reS0ceS Re50urees expended Transfers At 31 MCh 2024 Equipment & capital replacement Emergeney Eund Projects Legacy Archiving Carbon Insetting General fund5 276.971 116,004 230,595 50,000 20,LK)O iO,CK)O 171,763 276,9n 116,004 0.595 50.000 20.OCQ 10.0 232,165 1.024,400 1963,998} 875,333 I,IY24,41X) {%3.9981 J5.735 The Trustees have deslgnated funds to 5UPPOrt the eharity's long-term sustainability and key initiattve5, including equipment and capital replacement. project developmenL community engagernent, archivin environmental sustainability. and financial resilience. The total designated funds at year-end arnount to £834.896 P024.. £703570). A transfer of a40,473 was made to correct the presentation of htstorical balances which h8d remained in restritted funds in error. This adjustment ensures that the funds are now appropriately reflected within unrestricted reserves. 20 Analy$i$ of net assets between ndS Unrestricted funds 2025 Restricted funds 20 Total 201 At 31 Match 2025: Tangible assets Current assets/(liabilEtiesl 68,319 1.040,345 164,070 28,803 232,389 J.069,148 1,108,664 192,873 1.301.537 Unrestricted funds 2024 Restricted fund$ 2024 Total 2024 At 31 March 2024: Tangible a55eb Current assets/llrabilities} s47 881.178 247,911 177A67 301468 1,059,045 935,735 4125.778 1361,513 -30-
COLCHESTER ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (COI4rrINUED) FOR THE YEAR ENDED 31 K4RCH 2025 21 Related paty transactions During the year the following transactions were identilied: Purchases with connected entities totalled LS,74812024 £8.9851. Those connected entities durtng the year weTe Colche5ter Bgrousli Homes costs relatin8 garase ren1 £1,595, Col¢he$ter Youth Acts Partnership costs relating to Prom £4,126 and the Mercury Theatre £27. Sales wrth connected entities were Nil during the year {2024 £D41. Cash absorbed by operation$ 2025 2024 IDeftcit)/surplus for the year 159.976) 376.445 Adju$tment$ for.. Investsnent income iecognised in statement of financial activities tkpreeiation and impatrn)ent of tangible fixed a55ets (36,1891 72,143 {41,9961 76,829 Movements in workin8 capxtal: Decrease/{Tncrea5el in stock5 Decrea5e/(increasel Tn debtors {DecTeasel in creditor5 11352} (34,7751 1484,5041 32,236 1155011 Cash absorbed by operations 15,8391 10353) AnaIy$i$ of ¢hange$ In net funds The charffttable company had no material debt during the year. 24 Non-audit setvices provided by auditor In common with many bu5ines5es of our Size and nature we use our auditor to assist with the preparation of the financial statements. 31-