## **ALL CHANGE ARTS LIMITED** **(A COMPANY LIMITED BY GUARANTEE)** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** **Registered Company Number. 1964724** **Registered Charity Number. 293972** ## **All Change Arts Limited Contents** ||**Page**| |---|---| |Reference and Administrative Details|**1**| |Trustees’ Report|**2 – 7**| |Independent Examiners’ Report|**8**| |Statement of Financial Activities|**9**| |Balance Sheet|**10**| |Notes to the Financial Statements|**11 – 21**| ## **All Change Arts Limited Reference and Administrative Details** ## **For The Year Ended 31 March 2024** |**Trustees**|G. M. Evans| |---|---| ||J. M. Mason| ||A. G. Cezar| ||S. Singh| ||R. Dhut| ||N. Mirzaie| ||A. Brooks| ||N. Henriques| |**Company Secretary**|S. E. Lee| |**Charity Registration Number**|293972| |**Company Registration Number**|1964724| |**Registered Office**|27 Dingley Place| ||London| ||EC1V 8BR| |**Independent Examiner**|John Howard FCA| ||Azets Audit Services Limited| ||2ndFloor, Regis House| ||45 King William Street| ||London| ||EC4R 9AN| |**Banker**|Cooperative Bank PLC| ||1 Islington High Street| ||Islington| ||London| ||N1 9TR| |**Key Management Personnel**|Artistic Director – Suzanne Lee| ||Associate Director – Lisa Stolworthy| 1 **All Change Arts Limited Report of The Trustees** ## **For The Year Ended 31 March 2024** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year end 31 March 2024. The trustees have adopted the provisions of the 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) (effective 1 January 2015) ## **OBJECTIVES AND ACTIVITIES** The trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. In the period from April 2023 to March 2024, the Company has managed numerous projects designed to meet both All Change’s aims and the needs of our partners and participants. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit. The Company relies on grants to cover its operating costs. ## **Our Aim** All Change – world-class art made by, with and for communities. All Change brings artists and communities together to transform lives. Our work reaches people of all ages and backgrounds, especially those who would not usually have the opportunity to participate in the arts. We are committed to partnership, collaboration, innovation and risk taking. Our projects are cross art form and interdisciplinary, led by exceptional artists. We produce original and authentic arts experiences which make connections between people. Based in north London since 1985. All Change - ambitious for communities, ambitious for artists. Ours is a continuing story of connection, collaboration, care and celebration, of ambition and activism, of listening and learning, of change and transformation for individuals and communities. ## **ACHIEVEMENTS AND PERFORMANCE** In 2023/24, despite the challenges posed by the continuing impact of the pandemic and cost of living crisis, All Change has designed, managed and delivered a full programme of successful projects with communities in north London, and contributed to strategic local and national arts and community engagement initiatives, movements and conversations. Our 2023/24 programme: - ## **1. Strategic initiatives** The company continues to take a strategic leadership role in the development of community arts practice and the emerging civic arts movement in north London and beyond. We work in a hyper local way which resonates with the work of national and international partners; working in collaboration with an exceptional team of Associate Artists from different disciplines, and in partnership with diverse cross-sector partners, chosen for their particular experience and expertise. We continue to develop and test new approaches to working creatively with communities, sharing what we create and learn with others. Our approach embraces change, innovation and learning, exploring and developing the role of arts and culture in society, and the role these play in bringing joy and connection, building reliance, and developing understanding and connection between communities. We continue to deliver key partnership programmes including Islington Word Festival (2012-2024), B Creative, our arts activism programme with young women (2011-2024) and #Islington4Women; and with our community have contributed to the development and animation of _Imagine Islington_ and _Islington Welcomes_ , new culture and sanctuary strategies for our home borough. We have also established a new sector-led _Imagine Islington_ network for leaders of arts organisations in Islington, designed to strengthen the sector and its partnership with the local authority. These initiatives see the company working in collaboration with arts, cultural and cross-sector partners to achieve excellent outcomes co-created with communities and to develop practice in the civic role of the arts. All Change continues to develop complementary programme strands to support the creative and professional development of local young adults and community members. Our Arts Award, Young Creatives and Community Producer programmes utilise co-creation to design and develop new approaches to skills development, accreditation, work-based training, leadership and paid employment opportunities for young people age 16-25 and local adults age 25+ in creative settings. This year All Change’s team and those involved in our programme, have contributed to conferences, conversations, articles and events with organisations including Islington Council, City Bridge Foundation, Islington Giving, The Reading Agency and National Literacy Trust, Centre for London and Arsenal in the Community. 2 ## **All Change Arts Limited Report of The Trustees** ## **For The Year Ended 31 March 2024** ## **ACHIEVEMENTS AND PERFORMANCE - continued** **Young Creatives and Community Producers - Emerging Arts Professionals -** work based training opportunities for 16-25 year olds and local community members age 25+: Since 2009 All Change has offered a programme of employment opportunities for emerging young professionals and young adults The programme includes Young Creatives (age 16-25) and Community Producers (age 25+). Both roles are paid at London Living Wage. Some roles are project-based – flexible positions to co-create and co-produce projects, developing skills and knowledge as they work; and others are office-based – developing project management and administration skills. Alongside valuable work experience employees receive formal training in transferable skills such as First Aid and Safeguarding. In 2023/24, All Change provided paid Young Creative and Community Producer opportunities to 9 individuals, including people with Autism and learning disabilities, 3 young parents who are previous Inspire project participants, and 4 Community Producers age 25+. All Change has provided employment under this initiative for more than 70 individuals since 2009. ## **Arts Award initiatives -** developing new models of delivery across the arts and education sectors: All Change has delivered Arts Award (Trinity Guildhall and Arts Council England) since 2008, supporting over 125 young people to achieve Bronze (Level 1), Silver (Level 2) and Gold (Level 3 – 35 UCAS points), through participation in arts projects in informal settings. We continue to develop ways to integrate this accreditation into projects, to enable young people who may not flourish in mainstream education, to achieve qualifications which recognise their creative achievements. ## **2. Young People, Children & Families** All Change has continued to develop projects designed to engage young people and families this year, including partnerships with Barbican Library, Endurance Land, Quentin Blake Centre for Illustration, Islington Community Safety Team and Arsenal in the Community. Each project includes paid Young Creative (young adults 16-25) and/or Community Producer (local community members) roles within the project teams, ensuring that projects are designed and delivered in collaboration with those will lived experience. ## **B Creative -** arts activism projects for young women led by young women: B Creative, launched in 2011, is an Arts Activism programme led by young women for young women aged 16-25. The project welcomes all young people who identify as young women including d/Deaf, disabled and neurodivergent young women, LGBTQ+ young women, and young women from global majority and ethnically diverse backgrounds. All Change has engaged teams of Young Creatives in paid roles over the past 13 years to co-produce the project alongside inspiring professional female artists responding to the needs, wishes and interests of young women. To date, B has provided over 30 paid roles for young women. The project engages young women who face barriers to participation and who are at risk. Work with a focus on arts activism, is delivered in partnership with exceptional arts companies including: - Autograph ABP, Apple and Almeida Theatre, offering young women opportunities to develop skills, broaden horizons, create and share original work, and a platform to explore and express their voices and ideas. Young women make photography, poetry, dance, performance and music work and creative campaigns which address issues that matter to them and share their work with public audiences in arts settings, public spaces and online to make change. Over the past year young women have created powerful public facing work responding and contributing to public discourse around women’s safety and gender-based violence aiming to change hearts and minds through positive messaging online and in public space. They created powerful campaigns for the UN 16 Days of Activism [25 November – 10 December 2023] and a follow up campaign to mark International Women’s Day on 8 March 2024. A partnership with Quentin Blake Centre for Illustration led to a poetry and illustration zine and an exhibition at the N1 Centre to mark National Illustration Day 2024. _Homespun,_ a partnership with Endurance Land, saw young women working with associate artist Francesca Beard, illustrator Grace Attlee and professionals involved in the creative industries, technology and life sciences, to create art work for hoardings around a new development in Kings Cross, which expressed their response to the opportunity it will offer. In Summer 2023, they designed and delivered a festival focused on opportunities for employment in the creative industries. This second annual _Fantastic Futures Festival_ offered opportunities for behind the scenes access, free tickets to exhibitions and shows, and a chance to meet and talk to artists and women working in varied roles at All Change, Almeida Theatre and Quentin Blake Centre for Illustration amongst others. This was followed with a series of inspiring visits across the year to see shows and events including plays as part of Almeida for Free, the Carrie Mae Weems exhibition at Barbican Centre, Women in Revolt at Tate Britain and the Cult of Beauty at the Wellcome Collection. The young women curated their own ‘Summer of Softness’ programme for the summer 2024, including visits to exhibitions at Barbican, British Library, Tate Modern, National Portrait Gallery and The Photographers Gallery, mixed with a complementary programme of artist-led reflective activities. In July 2023, we published Highbury Girl, a zine inspired by Andrea Levy’s life and work created with students at Highbury Fields School. In December, associate artist Francesca Beard and Young Creative Sagal Hussein led a spoken word workshop with students as part of Time to Explore, an Arsenal in the Community programme led by Arsenal player and Lioness Lotte Wubben-Moy. ## **Inspire!** - a creative learning programme for young parents and pregnant young women aged 14-25 in Islington: Inspire! provides an accredited creative learning programme of arts activities - including music, photography, film-making, performing arts and creative writing, designed to support young parents to develop skills and confidence, express their ideas, create high quality work and shape plans for future learning to achieve their aspirations. Creative engagement activities are complemented by a programme of advice and support around education, parenting and health delivered by project partners. This year young parents have enjoyed visits 3 **All Change Arts Limited Report of The Trustees For The Year Ended 31 March 2024** ## **ACHIEVEMENTS AND PERFORMANCE – continued** to see pantomime at Hackney Empire and created a short animation - REST, with Lily Ash Sakula as part of a partnership with Quentin Blake Centre for Illustration. This was exhibited at the N1 Centre to mark the National Day of Illustration in November 2023. The young parents have worked with artists including Marysa Dowling, Cecilia Knapp and Aida Silvestri this year. A body of photography work and poetry exploring ways to find hope and optimism in challenging times, was shared in an exhibition at Barbican Library in July 2023, with an accompanying live conversation event. A selection of work was also exhibited at Islington Council’s Fairer Together launch in April 2024 and is displayed permanently at the new Access Islington Hub on Upper Street, Islington. WE Heal funding supported a special project for mothers affected by violence in autumn 2023, resulting in the creation of a series of silk silhouette scarves. Inspire! began a year of celebration to mark its 20[th] birthday with a special event in April 2024. ## **ReCreate –** a creative workshop programme for young parents aged 19-25 and their children: ReCreate is our project for young parents aged 19-25 and their children, which addresses a recognised need to provide a project for younger parents and their children together. This year we have delivered a programme of interactive arts events for young families, including photo studio, hip-hop dance and visual arts activities, offering take away ideas to use with their children at home. ## **Mums the Word** – a creative podcast project for mums age 25+ Mums the Word is a sister project to Inspire and ReCreate for mums aged 25+, co-produced with young parents. It builds connections and supports parents to develop skills and confidence. Participating mothers have created and launched an original podcast series – _Throwing Glitter_ , working with artists including Talia Randal, Cecilia Knapp, Francesca Beard and Tony Nwachukwu. ## **1. Civic Arts – connecting communities and building understanding** We have continued to build and grow our wider Civic Arts programme this year, aiming to connect and build understanding among communities, especially those experiencing isolation – including older people and those seeking sanctuary. This work responds to the challenges created by 15 years of austerity, a hostile environment for migrants, the cost of living crisis and the impact of the pandemic and Brexit on the communities we serve. It builds on the success of our approach and positive responses from our community to opportunities to work and come together. This wider programme is delivered in collaboration with a range of cross sector partners including Almeida Theatre, Islington Libraries, Actors Touring Company, Greenwich & Docklands International Festival, Finsbury Park Picturehouse, Housing 21, Kew Gardens, National Poetry Library, the British Library, local contingency hotels and Arsenal in the Community. ## **Well Versed -** creative events and activities for older people aged 55+: Building connection and strengthening community amongst older people, Well Versed is our company of older people, who participate in weekly sessions led by Francesca Beard, creating extraordinary creative work, which is shared through public performance events, publishing and online. This year the group has enjoyed visits to Tower Bridge and been featured on London Live. In October 2023, for National Poetry Day, we published The Last Dance, a poetry anthology of original work created over the past decade by the group, accompanied by 6 individual poetry pamphlets, and held a special launch event at Finsbury Park Picturehouse. The book, featuring quotes by John Hegley and Cecilia Knapp, was deposited in person with the British Library by the group in August 2024 and sold at Cally Festival and Whitecross Street Party this summer. Following the success of their participation in The Keyworkers Cycle in 2022, the group helped create and performed in 24:Day, a new community show at Almeida Theatre in August 2023. This is the first of a trilogy of shows to be created and performed over the coming few years. In October 2024, the performed at their own Special Edition event at National Poetry Library, marking the UN International Day of Older Persons and National Poetry Day 2024. ## **Going Places** – dance, photography and poetry project for older people in residential and day centre settings: All Change continues to deliver regular poetry and movement sessions with the Mildmays Extra Care residents and at Alsen Day Centre. This ongoing programme is punctuated by celebrations, block parties and Rub-A-Dubs (Caribbean style social events) in residential, library and arts settings – including Coronation parties with performance poetry, dance workshops and music from local DJ (and Well Versed member) Johnny Clash (AKA Lloyd Coombes) The project brings artists and older people together and brings older people and their work into arts, cultural and public spaces. All Change Associate Artist Francesca Beard works with isolated older people who have limited mobility and other health issues including dementia, using creative activities to tell stories and build connections. Participants are supported to create poetry and to celebrate, sing and move together. On 24 September 2024, for National Arts in Care Homes Day 2024, we published Still Life with Movement, an anthology of poetry by Mildmays residents, launched with a party and special guest performance from John Hegley. ## **Sanctuary** - a programme of creative projects with people seeking sanctuary in Islington: Working in partnership with Islington Council’s NRPF, Refugee and Migrant Service, All Change is delivering a programme of work designed to build understanding, connection and belonging. The Sewing Circle sees Associate Artists Aida Silvestri and Francesca Beard working with Afghan women using poetry, photography and embroidery to tell stories. Every Thursday, a mixed group of people who are NRPF(No Recourse to Public Funds) including residents in local contingency hotels from countries including: - Iran, Sudan, Pakistan, Nigeria, Kuwait and more, come together to create poetry, photography and performance – and to build connections. 4 **All Change Arts Limited Report of The Trustees** ## **For The Year Ended 31 March 2024** ## **ACHIEVEMENTS AND PERFORMANCE – continued** Creative work, including INSIGHT - a poetry and photography zine, an exhibition of photo portraits and live poetry performances were shared at events for Refugee Week at Cally Festival and WXSP, where participants also led their own photon studio activities for the wider community. Members of the group performed stories as part of Bodies of Water, a show by Actors Touring Company, directed by Matthew Zia at Greenwich and Docklands Festival 2024. A poem created by a Somali Women’s Group was performed at the launch of Islington Welcomes – Borough of Sanctuary launch, and is included alongside a hero image created with our whole community in the digital version of the strategy. This weekly creative programme is punctuated with inspiring visits to London’s arts and cultural venues – including National Portrait Gallery, British Library and Kew Gardens, alongside opportunities to be part of our wider programme. Four older participants have joined our Well _Versed_ company. **Creative Producer - WORD Festival 2012-24 –** a year-round programme celebrating reading, writing and freedom of expression: WORD is an established part of Islington’s cultural calendar, produced and curated by All Change it highlights community engagement work which creatively involves words, where communities, arts organisations and communities work together. WORD has a focus on engaging and amplifying the voices of communities who are underserved and underrepresented, using arts and culture to reduce isolation and loneliness, providing a platform for new and often unheard voices and stories. Since its inception, WORD has seen local residents work and perform alongside high profile artists including Michael Rosen, Inua Ellams, Hussain Manawer, Cecilia Knapp and John Hegley; and work with companies including Cardboard Citizens and Almeida Theatre. This year’s programme has shined a spotlight on publications and events including: _The Last Dance_ poetry anthology pamphlets by _Well Versed_ ; _Still Life with Movement_ poetry anthology by _Mildmays_ residents; _Highbury Girl_ zine by Highbury Fields students; and our partnership projects and events with _Quentin Blake Centre for Illustration_ and _Almeida Theatre_ . During 2023/24, the company has continued to consolidate its practice and reputation for delivering high quality and impactful arts work in community settings, through a variety of means: • Successful partnerships with diverse public, private and voluntary sector organisations including: Almeida Theatre, London Museum, Endurance Land, Quentin Blake Centre for Illustration, Barbican Centre, Arsenal in the Community, Actors Touring Company and Greenwich and Docklands International Festival. • Leadership of strategic initiatives in Islington including WORD Festival and the new _Imagine Islington_ Cultural Leaders Network. • Representation on the steering groups of strategic local initiatives including: - _Imagine Islington_ cultural strategy; the _11 by 11_ Cultural Leaders Strategic Group - Islington Council’s flagship cultural engagement programme for children and young people; Islington4Women - a voluntary and public sector coalition aiming to improve the lives of women in Islington and to promote equality; and Islington’s Wellbeing and Young Islington Locality Networks, working collectively to respond to the needs of local communities during the cost of living crisis. • Participation in national conversations, networks and communities of practice including: - What Next?; Arts and Civic Change: Shaping the Future Forum with Calouste Gulbenkian Foundation; Centre for London’s Roundtable on Arts and Cultural Engagement in London; and the new Citizens in Power Associates network. • Presentations of and about All Change’s work at conferences, courses, podcasts and events including: - Islington Council’s Fairer Together launch; The Reading Agency’s Earth Day event; WXSP (Whitecross Street Party); Cally Festival; Vibast Community Centre launch; Islington Welcomes – Borough of Sanctuary launch; Old Street Community Board; Islington Giving Small Charities Week Blog. • Publishing high quality print and digital products which share the creative outcomes and learning from our projects – including _Throwing Glitter_ a 3-episode podcast by _Mums the Word_ on Acast, Spotify and Apple podcasts; _The Last Dance poetry anthology and 6 poetry pamphlets_ by Well Versed; _Still Life with Movement_ poetry anthology by residents at _Mildmays_ Extra Care scheme; a series of zines - _Highbury Girl_ celebrating Andrea Levy’s life and work by students at _Highbury Fields School_ , _Limitless_ by _Inspire_ parents and _INSIGHT_ by our _Sanctuary_ group. • Permanent exhibitions of illustration, poetry and photography work by older people and young parents at the new Access Islington Hubs at Finsbury Library and 222 Upper Street. • Developing projects which use social media – including Instagram, to engage with communities and to share creative work both in the UK and internationally. • Our project case studies and images featuring in the publications, websites and publicity of leading funding bodies, arts companies and programme partners, including an appearance by 97 year-old Eula Harrison and Artistic Director Suzanne Lee on London Live discussing our Going Places programme with older people. • Developing our Associate Artists programme which sees artists working more closely with us, bringing new skills and contacts to the company, and fresh ideas and approaches to the work. - Increasing and diversifying audiences for All Change events and through our online and social media presence. ## **All Stars** All Stars is our individual giving scheme, developed in partnership with Macquarie Bank volunteers, as part of the Cripplegate CoRe partnership scheme, launched in November 2012. All Stars provides a mechanism for individual giving – including one-off and regular online donations, and new fundraising initiatives. 5 ## **All Change Arts Limited Report of The Trustees** ## **For The Year Ended 31 March 2024** ## **FINANCIAL REVIEW** ## **Review of the charity’s financial performance at the end of the period** During 2023/24 All Change has worked to deliver useful creative responses to high social need whilst sources of charitable support remain oversubscribed and public funding has reduced. Despite the challenging climate, All Change is pleased to have secured adequate income to enable the company to balance its annual budget and end the year in a healthy financial position. Turnover has increased by 12%, reversing the downward trend of the last few years. As the Achievements and Performance narrative describes, All Change continues to develop a varied portfolio of projects which necessitates an annual jigsaw of income from different sources. Securing a diverse range of financial support is one of All Change’s strengths, helping us to increase our financial sustainability and build our financial resilience. As planned, the carried forward restricted reserve funds from 2022/23 were expended on projects this year so the SOFA shows an on-paper deficit of £7,572 (net incoming resources before transfers). A further increase in All Change’s carried forward unrestricted funds is another positive for the year ended 31 March 2024. ## **Reserves policy** All Change Arts Limited endeavours to maintain sufficient reserves to cover overheads and salary costs for a minimum of three months operation. At 2024/25 levels All Change's overheads and salary costs for three months amount to £36,323 As at year-end 2023/24 All Change holds unrestricted reserve funds of £36,345. A review of the current reserves level and reserves policy is carried out annually. All Change maintains this level of unrestricted reserve in order to satisfy the conditions listed below: - to meet contractual liabilities should the organisation have to close. This includes redundancy pay, amounts due to creditors and commitments under leases; - to ensure that All Change can continue to provide a stable and quality service. Within this context to minimise recruitment, staff training, staff induction and marketing costs by avoiding the need for redundancies caused by financial crisis; - to meet unexpected costs like break down of essential office machinery, staff cover re illness, periods of extended leave, and legal costs defending All Change’s interest; - to replace equipment as it wears out; - to provide working capital when funding is paid in arrears. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Constitution** The Company is a charitable company limited by guarantee, number 1964724 and was set up by a Memorandum of Association on 25 November 1985. The Company is also a registered charity, number 293972. ## **Method of appointment or election of trustees** The management of the Company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association. Recruitment is undertaken as necessary through the identification of skills gaps at trustee level. ## **Policies adopted for the induction and training of trustees** New trustees are given a copy of ‘The Essential Trustee: what you need to know’ published by the Charity Commission and ‘Directors and Secretaries Guide’ published by Companies House. In addition, new trustees are met in advance of joining the Board by the Chair and have the opportunity to attend a Board meeting as an invited guest. Existing All Change trustees and senior staff work together to ensure thorough and effective induction of new trustees, enabling them to understand and deliver the commitment and duties required to govern the charity. To enable All Change to fulfil the objectives set out in the governing document as effectively as possible, skills sharing is carried out so that trustees can focus with maximum insight on All Change’s charitable objects and issues of governance. ## **Management Structure** The senior management team comprises the Artistic Director (CEO) and Associate Director. Management decisions are made at this level and implemented by the staff team led by the Artistic Director who reports directly to the Board. ## **Arrangements for setting pay and remuneration of key management personnel and criteria used** The pay of All Change's salaried staff is reviewed annually and is normally increased in accordance with average earnings and with consideration of the current rate of inflation. This applies to senior staff including All Change’s CEO, the Artistic Director. In view of the nature of the charity, the Board of Directors bench-mark against pay levels in other arts organisations of a similar size and scale and run on a voluntary basis. The remuneration bench-mark is the mid-point of the range paid for similar roles. If recruitment has proven difficult in the recent past a market addition may also be paid with the pay maximum no greater than the highest bench-marked salary for a comparable role. All members of the board of directors, who are trustees of the charity, give of their time freely and no director received remuneration in the year. 6 All Change Arts Limited Report of The Trustees For The Year Ended 31 March 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT. conllnuod Rl8k rnanagemgnt Th• Company maintains a Risk Regsler linked to the sen￿r mana98m8nt taam's foN&rd pfans, and thls Ss monitored and review8d on an annual basis by thè trusto#s through thè wccoss of a risk assessrn8nt exercise. The twstees hav8 8X8min8d the major risks towhich the Company is exp￿d. in pawticularthtsg rdatsd to th8 0￿rat1)n$ aThJ ￿nanc￿$ ofthe Company. and are satisfied thal systems are in F4ace to mit¥J8te wr exp05ur8 to the Ma1￿ risks. Som8 of thè maln rlsks lacing the charity are detsiled below along Trmth how these risks are being nkanaged: 1. Extem81 IBCtors thrg8t8n viab￿lty of sac￿. Ongoing rocovery from Cow&19. increas&J o)sts. %trrJrkforc8 th8nge5, weakened infraslnjofvre and extrgrre scxial n8ed al contribJt8 to a chal8rrtJing landscap8. To manage thi5 fiBk wa wlll r•V￿W the ofganlsation's posbtson. futur& aims and bus￿055 IT￿1 this ygar and make ngC9558ry and dèslfed changes lo ersure long tem sustsinabilty. We *ill a)ntinua to mcfflrtor th& ￿)noMiC and social climate.. and maintsin a Ilgsaw approach to incom8 98n8ration and kryramming. corn￿￿1ng fundraiwng lyds. to charity and public lunding bodies. coMmi￿Ons. and approach95 to rx*Foratg fund8r5 and individual giv8rs. W• wll pit)N￿s• alforts to rais8 our profil8, cmlirrfJ awaf•n8ss and now a￿d￿nces. opening up FX)ienlial new sourr*s of unrestricted support. 2. Actlons ol coll8aguoB, rivals or nthy ontrants to our markets Ihreaten Ac's atrflmy to secur¥ fvndinWo)ntraets. To manage thi8 risk. we conlinue to monitor and g)nsidgr all aval1a￿0 unMSt￿etod fundlng oprthun1¥•8 and work to s8cure longer.lemi13 lo1￿year) prc4ecis in order ¢0 bei¢er plan futurg incomB. 3. Th8 Impact of th• Coihd-19 pandomic a>st ol living crwi8 on parlicwts and train8e8 olroady •xwrf¥nclThJ multipb di8a¢fvantage rroans thwr mgntsl hg•tth and w8llb&"NJ n88ds b8com8 mcrt acul• incroasing strain on All Chang8 pètsonnal and op8ration. To manag8 this risk. we will maint8in wular ¢ommunication all p8rticip?nts and traln88s'. conUnu8 dalty Safeguarding team ¢hec*.ins lor pwbcipants at risk.. maintain uJrrent, end forge ngw, Ilnks with rtn8r5 in 811 s8ctors to signposVbrL*8f U58ful and tsm•ly ￿n$•I11ng and supwt Icrf partiapants in need.. ensure stsff have 8dequate support. debriefin9 and Supervision. and are awafe ol prol•s*on&l b￿nd￿N*5 and Al Change's pastoral cam param•t8ts', r￿•Sh r•slli•nc• cOathW￿ for coro stafP, contsnue to upskill org8ni68tkJn in mental h&glth flrst 8idlawaTone$s13ectry offgr, and ￿￿tinu0 ￿ mtsnltor ac(k￿l￿%)nomk h•alth of local communrty and spedflc b8n8fidary communtties. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iru3tees are responsible for preparing thvj Trust0￿, R8wI and thè finandal siat8m8nis, In accordanc& with app11cab law and un￿Od Klngdom AccA￿n￿ng Standards (United Kirgdom Generally Accepted Aco)unting practi￿}. Company law raqulros tho trustsos to woparo flngnrAal statements tr Ogch ￿￿n(la1 year. ￿lIkh gIv• • truo And falr viow of thè state ol affair5 of the ch8ritatA• c(Nnpany and of th• Inc¥)miThJ resour￿ and application of resources. including th8 income and expenditure ol the charitabb8 company for Ihg year. In prep8ring lh￿ fin?rrfial stsIerT￿nts, tha trust8es are r8quir8d to.. select svSlablo accounting pdri8s and then aWy Ihem consi5tenty.' observe th8 methc¥Js 8nd prindsth In th• Charltlas SORP 2015 IFRS 1tr21.' make judgemgnts and 8stim8t8s that ar• rnasonat48 and pn￿ent.. state wh&th8r appllcable UK AccovntiThJ Standard5 have be￿ fc4lry*rnd. to any m8tartal departures di5d05ed and 8xpLqined in thè financlal stst&Th￿ts.' epare the financi81 slatements on thè png conc*m bosls unl8ss 6t Is Inapwowlate to prwJJm8 that th8 charbtabl& company Mll continue in oF¢ratic￿. The trustees are responsib￿ lor keeping adequale occrwnling retsjrds that dlschsè, with rnasonabl8 accurncy at any Ume. thg fin8nci81 po￿tion ol the charilable CL¥npany and ￿able th8m to onsure that the financial statements comply with tr8 Cornpanies Act 2006. They are aLw responsiNe forsaleguardiry th& ass8ts ofthg tharItab￿ t￿npanY and h•nG8 lortaking Igasonoble 5tgps for the preventi￿ and d8t•ctKJn of fraud and oth8r irregularit*s. Th15 rep)rt has been yepared in amydance wtth Ihe Ststom8nt of R8comm8nd8d Practic8, 'ACC￿Jntsng and RepoTtsng by Charities,. and in ac0Ydan￿ with the srw81 prTrrti5K￿ of P8rt 15 ofth8 Ccmpanl&s Ad 2006 folating to small entstie5. Approved by order ofthe board of Iw5tees on 4 Novemb8r 2024 and sign*J cffi tts b•haN by.. J Mason ## **All Change Arts Limited Independent Examiner’s Report** ## **For The Year Ended 31 March 2024** I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 9 to 21. ## **Responsibilities and basis of report** As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## **John Howard FCA** For and on behalf of Azets Audit Services Limited 2[nd] Floor Regis House 45 King William Street London EC4R 9AN Date: 25 November 2024 8 ## **All Change Arts Limited Statement of Financial Activities** ## **For The Year Ended 31 March 2024** |**Unrestricted**
**Notes**
**Funds**
**£**
**Income and endowments from:**
Donations and legacies
**2**
64,220
Charitable activities
**3**
-
Government grants
-
__________
**Total incoming resources**
**64,220**
__________
**Expenditure on:**
Raising funds
27,860
Charitable activities
36,002
__________
**Total resources expended**
**4**
**63,862**
__________
**Net incoming resources**
**before transfers**
**358**
Transfers between funds
-
__________
**Net movement in funds**
**9**
**358**
**Fund balances brought**
**forward 1 April 2023**
35,987
__________
**Fund balances carried**
**forward 31 March 2024**
**17**
**36,345**
|**Restricted**
**Funds**
**£**
213,729
9,295
-
__________
**223,024**
__________
-
230,954
__________
**230,954**
__________
**(7,930)**
-
__________
**(7,930)**
7930
__________
**-**
|**Total**
**2024**
**£**
277,949
9,295
-
__________
**287,244**
__________
27,860
266,956
__________
**294,816**
__________
**(7,572)**
-
__________
**(7,572)**
43,917
__________
**36,345**
|**Total**
**2023**
**£**
239,014
17,378
-
__________
**256,392**
__________
27,326
220,928
__________
**248,254**
__________
**8,138**
-
__________
**8,138**
35,779
__________
**43,917**
| |---|---|---|---| All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year. The notes on pages 11 to 21 form part of the financial statements. 9 All Change Arts Limited Balance Sheet As at 31 March 2024 Com no. 1964724 2024 2023 Flx8d A￿ts 11 5.254 5,676 Curr•nt A¥••ts D8biors Cash at bank and in hBTrJ 12 7.270 55,481 9,239 68,929 62.751 78,168 Crndltorn: amounts falling du8 Wlthin on8 year 13 {31.6601 139.9271 N•t Curr•nt Au•ts 31.091 38,241 Not Amgts 36.345 43.917 R•presented by.. R&strtct8d funds unreStrfCt￿ funds IJ 16 7,930 35,987 38.345 36,345 43.917 Th• charttable company i8 onttued to exWnpti￿ from audtt undar Sth 477 rrf the Co¥npanw Ad 2£￿ for th• yaar ond8d 31 March 2024. Th8 nwmb8rs hav8 noi TequlTe(1 th8 chartsw ¢>)mpany to obtaln an audli rA ffin¥ndg1 $10t•n￿￿ for the year ended 31 March 2024 In accordance wlth SeCt￿n 476 of Ihe Compani•s Att 2th)6. Tha Trustoes ackThledge thelr for. lal ensurfng trat the conyny k••ps aCc￿nthig r￿{*d5 wllh S¢dbM 386 387 of the Compani#s Act 2006 and preparing financ￿1 5tsterrents vthlch a true and fair vknt of ts stste of thks ol th& ctmnpany as at th8 and of aach finanaal year and of its proffit or kJ5s for 88ch finanaal year in aC(￿rd￿n￿ with the r8quir•m8nts of Section5 394 and 395 and which othernise ￿[T￿Y ￿ thg rw]uir8m8nts ol th• cC￿pan￿9$ A￿ 2006 rdating to finanrial 5taternents, 50 far as apF4i¢a￿e lo the crynpany. Ibl The ffinancial 3iaiements havè b•8n prapar*l In wAh th9 S￿1#1 F￿￿n$ ofPart 15 of the C(vnp8nigs Act 2c￿6 r81gUng to small enJUe5. Approved by the B￿rd 0ftrust￿5 ￿ 4 Novembw 2W24 and sw3n￿ M thtyr b8h811 ty. J.ry.rt4 J Mason The not8s on pages 1110 21 form part ofthese ffflancial slat•mnts. 10 **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** ## **1. ACCOUNTING POLICIES** ## **a) General information and basis of preparation** All Change Arts Limited is a company limited by guarantee in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out on page 2. The financial statements have been prepared in accordance with 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) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **b) Going concern** The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. ## **c) Judgments and key sources of estimation uncertainty** Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under circumstances. The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements: Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lived and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See note 11 for the carrying amount of the plant and equipment and note 1j for the useful economic lives for each class of assets, There are no key assumptions concerning the future and other key sources of estimation uncertainly at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year. ## **d) Legal status** All Change Arts Limited is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £1. 11 ## **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** ## **1. ACCOUNTING POLICIES - continued** ## **e) Funds accounting** Restricted funds – these are funds that can only be used for specific restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. Unrestricted general funds – these are funds, which can be used in accordance with the charitable objects at the discretion of the trustees. ## **f) Incoming resources** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. The following specific policies are applied to particular categories of income: - Donation income including core grants, sponsorship, donations and gifts is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. - Incoming resources from charitable activities includes income from performance fees received under contract. Grant income included in this category provides funding to support performance activities, touring or education projects and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. - - Investment income is included when receivable. - Government grants relating to incoming resources are recognised as income over the periods when the related costs are incurred. The grants received in the year relate to The Coronavirus Job Retention Scheme. ## **g) Resources expended** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. The irrecoverable element of VAT is included with the item of expense to which it relates. It is categorised under the following headings: - Costs of raising funds are those costs incurred in attracting donation income. - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **h) Support costs allocation** Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Costs relating to a particular activity are allocated directly; other are apportioned on an appropriate basis, for example, time spent, per capita or floor area. ## **i) Taxation** The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part II Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 12 ## **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** ## **1. ACCOUNTING POLICIES - continued** ## **j) Tangible fixed assets** Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives as follows: Computer equipment - 25% reducing balance basis Office Furniture - 10% reducing balance basis ## **k) Debtors** Prepayments are valued at the amount prepaid. Accrued income is measured at the amount due to be received. ## **l) Cash and cash equivalents** Cash at bank and cash in hand includes cash and short term highly liquid investments with a shorty maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **m) Creditors** Creditors are recognised when there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Other creditors and accruals are recognised at their settlement amount due. ## **n) Financial instruments** The charity only has assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **o) Operating leases** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as incurred. 13 ## **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** ## **2. INCOME FROM DONATIONS AND LEGACIES** |**Unrestricted**
**Restricted**
**£**
**£**
Action Funder – The Watermans
Arts Council of England
Austin and Hope Pilkington Trust
-
-
-
5,000
800
-
City Bridge Foundation
Co-op Local Community Fund
Derwent Tech Belt Community Fund
-
-
50,000
-
4,962
The Edward Gostling Foundation
Film Fixer
-
-
-
-
Islington Council – Arts Service
-
4,500
Islington Council – Children’s Services, Play
and Youth
Islington Council - VCS Fund
-
20,000
24,900
-
Islington Council – Fairness and Equality team
-
-
Islington Council - LIF
-
-
Islington Council – Transformation Unit
-
2,328
Islington Council – Jubilee/Coronation Fund
-
500
Islington Council – WE Heal
-
5,000
Islington Council – NRPF, Refugee and
Migrant Service
-
77,500
Islington Council – CiL
20,000
-
Islington Giving
15,000
30,524
The Joanies Trust
-
-
Kusuma Trust (via Islington Play Association)
-
-
Lloyds Bank Foundation
London Youth
-
-
-
3,993
Macquarie Bank
5,145
-
Morris Charitable Trust
-
3,000
The National Lottery Community Fund
-
-
Notting Hill Genesis
-
-
Old Street Community Pot
Sheldon Trust
-
-
-
-
Miscellaneous Donations
947
722
All Stars Scheme – Donations
3,125
-
Bank interest
3
-
__________
__________
Total core grants and donations receivable
**64,220**
**213,729**

|**2024**
**£**
5,000
800
-
50,000
-
4,962
-
-
4,500
24,900
20,000
-
-
2,328
500
5,000
77,500
20,000
45,524
-
-
-
3,993
5,145
3,000
-
-
-
-
1,669
3,125
3
__________
**277,949**
|**2023**
**£**
-
9,998
1,000
7,000
2,245
5,000
5,000
500
7,500
24,900
20,000
1,300
12,000
2,380
600
-
-
-
47,500
3,500
30,960
20,890
3,903
-
-
9,998
6,642
1,700
10,000
1,301
3,195
2
__________
**239,014**
| |---|---|---| In 2023, £204,932 of income from donations and legacies was attributable to the restricted fund and the remaining £34,082 as attributable to unrestricted funds. |**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
**Unrestricted**
**Restricted**
**£**
**£**
Almeida Theatre
-
1,299
Endurance Land
996
Islington Play Association: Cally Festival/I4W
-
Michael Spencer – consultancy fee
-
-
Museum of London/Art Night
-
-
The Reading Agency
-
7,000
Thornhill Primary School
-
-
__________
__________
**0**
**9,295**

|**2024**
**£**
1,299
996
-
-
-
7,000
-
__________
**9,295**
|**2023**
**£**
-
8,965
1,162
350
1,801
2,000
3,100
__________
**17,378**
| |---|---|---| In 2023 £17,028 of income from charitable activities was attributable to the restricted fund and £350 was attributable to unrestricted funds. 14 ## **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** |**4.**
**RESOURCES EXPENDED**
**Raising funds:**
Costs of generating voluntary income
**Charitable activities:**
Arts and Innovation
Young People and Families
Civic Arts – Connecting Communities
(Reducing Isolation)
**Total resources expended**|**Direct**
**costs**
**£**
-
-
43,186
103,091
__________
**146,277**
|**Support**
**costs**
**£**
27,860
-
28,299
92,380
__________
**148,539**
|**2024**
**£**
27,860
-
71,485
195,471
__________

**294,816**|**2023**
**£**
27,326
4,736
149,167
67,025
__________
**248,254**
| |---|---|---|---|---| In 2023, £116,739 of the resources expended costs related to direct costs with the remaining £131,515 relating to support costs. |**5.**
**SUPPORT COSTS**
Governance (note 6)
Staff costs
Finance
Depreciation
Office costs
Travel
Other
**6.**
**GOVERNANCE COSTS**
Independent examiners’ fee
Other costs|**2024**
**£**
2,913
114,487
4
1,227
22,847
3,241
3,820
__________
**148,539**
__________
**2024**
**£**
2,900
13
__________
**2,913**
__________|**2023**
**£**
2,600
112,019
4
1,616
13,507
-
1,769
__________
**131,515**
__________
**2023**
**£**
2,640
-40
__________
**2,600**
__________| |---|---|---| 15 **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** ## **7. TRUSTEE’S REMUNERATION AND BENEFITS** None of the Trustees received any remuneration or other financial benefits during the year (2023 Nil). The trustees were not reimbursed for expenses (2023 £nil). ## **8. STAFF COSTS AND KEY MANAGEMENT PERSONNEL** |Salaries and wages
Social security costs
Pension contributions
Less: Costs directly related to projects
The average number of employees was:
Leadership/management
In-house project management|**2023**
**£**
152,008
8,010
3,245
__________
163,263
__________
(48,776)
__________
**114,487**
__________
1.6
2
__________
**3.6**
__________|**2023**
**£**
142,855
7,227
982
__________
151,064
__________
(39,045)
__________
**112,019**
__________
1.6
1.9
__________
**3.5**
__________| |---|---|---| There were no employees earning more than £60,000 during the year (2023: £nil more than £60,000). The key management of the charitable company comprise of the Trustees, the Artistic Director and Associate Director. The total employee benefits of the key management personnel of the charity were £79,715.40 (2023: £80,110) **9.** The SOFA shows a deficit of (£7,572) for the year (net incoming resources before transfers). This is made up £7,930 of restricted reserve funds received prior to April 2023 but allocated to projects in 2023/24 spent in accordance with funding agreements, and £358 unrestricted income added to unrestricted reserves. ## **10.** ## **NET (EXPENDITURE)/INCOME FOR THE YEAR** |This is stated after charging
Independent examiners’ fee
Depreciation|**2024**
**£**
1,227
__________
2,880|**2023**
**£**
2,640
1,616
__________| |---|---|---| 16 ## **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** ## **11. TANGIBLE FIXED ASSETS** |**Office**
**Equipment**
**£**
**Cost**
As at 1 April 2023
34,502
Additions
805
__________
As at 31 March 2024
35,307
__________
**Depreciation**
As at 1 April 2023
28,826
Charge for year
1,227
__________
As at 31 March 2023
30,053
__________
**Net Book Values**
**At 31 March 2024**
**5,254**
__________
At 31 March 2023
**5,676**
__________
**12.**
**DEBTORS**
**2024**
**£**
Prepayments and accrued income
**7,270**
__________
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2024**
**£**
Accruals and deferred income
**31,660**
__________
**14.**
**DEFERRED INCOME**
**2024**
**£**
Balance at 1 April 2023
30,047
Amount released to incoming resources
(30,047)
Amount deferred in year
28,000
__________
Balance as at 31 March 2024
**28,000**
|**2023**
**£**
**9,239**
__________
**2023**
**£**
**39,927**
__________
**2023**
**£**
47,364
(47,364)
30,047
__________
**30,047**
| |---|---| The deferred income relates to grants received during this financial year, but are to be utilised in financial year 20242025. 17 ## **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** |**15.**|**RESTRICTED FUND**
**Balance**
**31 March**
**2023**
**£**
Young People and Families
B Project
45
Inspire!/ReCreate/Mums the Word
412
__________
457
__________
Civic Arts (Connecting
Communities/Building Understanding)
Saturday Socials
2,381
#Keeping Connected
3,749
Sanctuary
-
Word Festival
1,343
__________
7,473
__________
**7,930**|**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
17,315
(17,360)
-
39,312
(39,724)
-
__________
__________
__________
56,627
(57,084)
-
__________
__________
__________
84,064
(86,445)
-
2,328
(6,077)
-
77,505
2,500
(3,843)
-
__________
__________
__________
166,397
(173,870)
-
__________
__________
__________
**223,024**
**(230,954)**
**-**
(77,505)|**Balance**
**31 March**
**2024**
**£**
-
-
__________
-
__________
-
-
-
__________
-
__________
**-**| |---|---|---|---| A project balance at 31 March 2024 indicates expenditure to be incurred in 2024/25 corresponding to the individual project, see page 2 to 5 for detail of projects. **15a. RESTRICTED FUND – Prior year** |**Balance**
**31 March**
**2022**
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
**£**
Arts and Innovation
Word Festival/Outer Space
33
5,600
(4,290)
-
Arts Award
10
-
(10)
-
Connect 360/Safe Selamat
254
0
-
__________
__________
__________
__________
297
(4,554)
-
__________
__________
__________
__________
Young People and Families
B Project
72
85,589
(85,616)
-
Inspire!/ReCreate
84
59,945
(59,617)
-
__________
__________
__________
__________
156
145,534
(145,233)
-
__________
__________
__________
__________
Civic Arts (Reducing Isolation, Older
People)
Saturday Socials
391
46,749
(44,759)
-
#Keeping Connected
-
24,078
(20,329)
-
__________
__________
__________
__________
391
70,827
(65,088)
-
__________
__________
__________
__________
**844**
**221,961**
**(214,875)**
**-**



(254)
5,600|**Balance**
**31 March**
**2023**
**£**
1,343
0
0
__________
1,343
__________
45
412
__________
457
__________
2,381
3,749
__________
6,130
__________
**7,930**
| |---|---| 18 ## **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** |**16.**
**UNRESTRICTED FUNDS**
**Balance**
**31 March**
**2023**
**£**
General reserve
**35,987**
___________
**16a.**
**UNRESTRICTED FUNDS – Prior year**
**Balance**
**31 March**
**2022**
**£**
General reserve
**34,935**|**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
**64,220**
**(63,862)**
**-**
_________
__________
__________
**Income**
Expenditur
e
**Transfers**
**£**
**£**
**£**
**34,431**
**(33,379)**
**-**|**Balance**
**31 March**
**2024**
**£**
**36,345**
___________
**Balance**
**31 March**
**2023**
**£**
**35,987**| |---|---|---| 19 **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** ## **17. ALLOCATION OF NET ASSETS BETWEEN FUNDS** The funds of the charity are represented by the following net assets: |**Unrestricted**
**£**
Tangible fixed assets
5,254
Current assets
34,751
Current liabilities
(3,660)
**____________**
**36,345**
|**Restricted**
**£**
-
28,000
(28,000)
**__________**
**-**
|**Total**
**£**
5,254
62,751
(31,660)
**____________**
**36,345**
| |---|---|---| ## **17a. ALLOCATION OF NET ASSETS BETWEEN FUNDS – Prior year** The funds of the charity are represented by the following net assets: |**Unrestricted**
**£**
Tangible fixed assets
5,676
Current assets
38,147
Current liabilities
(7,836)
**____________**
**35,987**|**Restricted**
**£**
-
40,021
(32,091)
**__________**
**7,930**|**Total**
**£**
5,676
78,168
(39,927)
**____________**
**43,917**| |---|---|---| ## **18. OPERATING LEASE COMMITMENTS** The charity had total commitments under an operating lease as follows: |Operating leases which expire:
Within one year
Between one and five years|**2024**
**£**
7,800
__________
12,350|**2023**
**£**
7,800
6,500
__________| |---|---|---| ## **19. RELATED PARTY** There were no related party transactions for the year ended 31 March 2024 (2023: none). 20 ## **All Change Arts Limited Notes To The Financial Statements** ## **For the Year Ended 31 March 2024** |**20.**
**STATEMENT OF FINANCIAL ACTIVITIES – Prior year**
**Unrestricted**
**Notes**
**Funds**
**£**
**Income and endowments from:**
Donations and legacies
**2**
34,081
Charitable activities
**3**
350
Government grants
-
__________
**Total incoming resources**
**34,431**
__________
**Expenditure on:**
Raising funds
27,326
Charitable activities
6,053
__________
**Total resources expended**
**4**
**33,379**
__________
**Net incoming resources**
**before transfers**
**1,052**
Transfers between funds
-
__________
**Net movement in funds**
**9**
**1,052**
**Fund balances brought**
**forward 1 April 2021**
34,935
__________
**Fund balances carried**
**forward 31 March 2022**
**17**
**35,987**
|**Restricted**
**Funds**
**£**
204,933
17,028
-
__________
**221,961**
__________
-
214,875
__________
**214,875**
__________
**7,086**
-
__________
**7,086**
844
__________
**7,930**
|**Total**
**2023**
**£**
239,014
17,378
-
__________
**256,392**
__________
27,326
220,928
__________
**248,254**
__________
**8,138**
-
__________
**8,138**
35,779
__________
**43,917**
|**Total**
**2022**
**£**
283,617
10,430
5,017
__________
**299,064**
__________
27,417
298,969
__________
**326,386**
__________
**(27,322)**
-
__________
**(27,322)**
63,101
__________
**35,779**
| |---|---|---|---| 21