## **INDEPENDENT ARTS**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025**
**Charity registration number 297474 (England and Wales) Company registration number 02147908**
## **Message from the Chair of Trustees**
It gives me great pleasure to introduce Independent Arts’ Annual Report for 2025. This year has been one of both challenge and celebration, as we continue to build on our mission of improving wellbeing and quality of life through the power of creativity.
In October 2024, we welcomed Rosanna Sloan to the role of Chief Executive. She came to us with a wealth of experience and a passion for helping people lead happier, healthier and more fulfilled lives through engaging in arts activities.
Working closely with our trustees and staff, Rosie has refined and strengthened our strategy, putting in place the plans and structures that will enable us to direct our services to meet the needs of the Isle of Wight community both now and in future years.
The past twelve months have shown, once again, the vital role that Independent Arts plays. We have continued with our work in care homes and our ever popular weekly “Singabout” sessions. Both activities are aimed at older people. We have continued to extend our reach and developed innovative programmes, including “Arts Lab”, a youth-led programme aimed at young people aged 12 and above, and “Men’s Art Project” aimed at improving mental health by creating a safe space for men to come together and express themselves through creative arts.
We have strengthened partnerships with other creative health organisations, recognising that the best way to serve our island is to work collaboratively, both here and across the UK.
Most importantly, we have seen first-hand the positive impact that creativity brings—reducing isolation, building confidence, and fostering connection among people of all ages.
None of this would have been possible without the dedication of our staff, volunteers, and artists, whose commitment and passion drive everything we do. I would also like to thank our funders, supporters, and partners for their trust and generosity, which enable Independent Arts to continue its essential work.
As Chair of Trustees, I am immensely proud of the organisation’s achievements this year and excited for the opportunities that lie ahead. Together, we are ensuring that the arts remain accessible, inclusive, and transformative for everyone in our community.
Jacquie Heany Chair of Trustees
## **Message from Chief Executive – Rosanna Sloan**
This financial year has been one of review, refinement, and development for Independent Arts— and my first as Chief Executive. Since joining in October I have been blown away by the output and impact the charity makes daily to people’s lives on the Island. The programmes we run are essential lifelines focusing on connection, fulfilment and support.
A single day with Independent Arts shows the breadth of our work: three workshops in our Creative Hub that support mental health and wellbeing; two SingAbout groups that bring people together to combat social isolation; four workshops in care homes supporting people living with dementia and disability; and a specialist projects such as ArtsLab, which builds confidence, wellbeing, and leadership in young people. Independent Arts truly is a remarkable organisation and a vital cog to improve health outcomes for people on the Island.
None of this would be possible without our remarkable team of staff, volunteers, practitioners, patron and trustees. Their talent, passion, and dedication drive everything we achieve to make a difference daily to people's lives.
It has been a joy to work on our strategy and direction and build on the excellent foundations that have been established over the last 38 years. We are now strengthening our connections with the Creative Health sector, we are looking at best practice and innovation in our field to ensure our programmes have the best outcomes for our participants and we are developing projects which explore a range of art forms to continue our excellent reputation for quality and creativity.
This important work depends on the generosity of our funders, businesses, and the public. I am deeply grateful to everyone who has supported us this year—your contribution makes this possible.
Finally, I would like to thank the whole Independent Arts community for making me feel so welcome in my first year. Together, we will continue to make Independent Arts the beating heart of Creative Health on the Isle of Wight.
Rosanna Sloan Chief Executive
## **Trustees’ report**
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 ended 31st July 2025. The Trustees have adopted the provisions of Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1st January 2019.
## **Public Benefit**
The Trustees have read the Commission’s Public Benefit requirement statutory guidance and have had regard to this when running the Charity.
## **Who We Are and What We Do**
Independent Arts improves people's health and wellbeing on the Isle of Wight through creative activities enabling people to connect, live well and thrive.
We are a pioneering creative health charity who deliver artistic programmes designed to address the diverse needs of our community, from improving emotional wellbeing to supporting physical health, at every stage of life.
We provide an essential, safe and welcoming space to connect with others and discover creativity, at our Hub, in Newport, and through our workshops across the Island.
**Why we do what we do:** Our purpose is to improve people’s health and wellbeing on the Isle of Wight through creative activities, enabling people to connect, live well and thrive.
## **How we do this:**
- Creative Health Programmes
- We respond to identified need to co-create a diverse range of creative health programmes.
- Through Innovation
- We pioneer, test and lead on new methods of creative health delivery
- Bringing People Together
- We create spaces where participants can connect with others, feel welcome, supported and valued and build communities.
-
- Everyday Creativity and Wellbeing
- We deliver workshops and events to help people experience the many benefits of creativity for everyday health and wellbeing.
## **What we did in the year to July 2025:**
Delivered over 3 , 100 workshops this year
Welcomed over 2 , 361 visitors to our Creative Hub and held 8 exhibitions
Helped more than 1,650 people weekly this year through our programmes
Supported over 500 people weekly through our sessions in care homes.
Made our Creative Hub available to participants 6 days per week.
Delivered 453 number of workshops at our Creative Hub.
Delivered weekly singing for wellbeing sessions at six locations across the Isle of Wight, engaging around 180 older adults per week.
Facilitated over 1,850 creative workshops in care homes with more than 16,500 attendances. Engaged 18 young people aged 12+ in a year-long, youth-led creative programme.
Partnered with National Landscapes to deliver 24 nature-based creative workshops and 4 field trips for home-educating families
Delivered 42 morning workshops for home-educated children aged 8–14 and their carers.
## **Here is a sample of our activities and what our participants say:**
## **Singabout**
Singabout offers accessible, inclusive singing sessions that promote wellbeing and reduce social isolation. There are six _Singabout_ groups that run across the Isle of Wight, engaging an average of 180 participants a week. The majority of attendees are aged over 55, with many living alone, acting as unpaid carers, or living with health conditions.
**“I feel an adrenalin shot and a rush after I’ve been there, like when I used to play football!” “I’m a carer and don’t leave the house too often—coming here is a real lifeline. It should be on prescription!”** – _Freshwater Singabout participant._
## **Workshops for Wellbeing**
Our workshops are delivered in care homes by freelance artists and offer creative
opportunities for improved mental and physical health, wellbeing and social connections for some of our Island’s more vulnerable older residents. Activities with elderly and frail participants include visual arts, creative writing, movement, music, singing, reminiscence and soundbeam.
**“The residents that attend the sessions thoroughly enjoy the music and chats with the musicians. Even the non-verbal residents clap and tap feet and seem happier. Some residents find it hard to communicate feelings but our residents love these sessions and it brings joy to their days.** _Daisy – Activities Coordinator, Eden House on Music Workshop_
**"Mum always really enjoyed the Independent Arts visits to Cherry Trees as shown by her amazing clay animal collection. We always enjoyed seeing the new creations too! Keep up the amazing work. It makes a big difference to the lives of those finding themselves in an unimaginable situation in life."** _Daughter of Cherry Trees Care Home resident with exhibits in the care homes exhibition Autumn 2024._
## **Wellbeing Cafe**
This is a workshop supported by 3 volunteers for participants who may need more support and guidance. Need in Wellbeing Cafe ranges from varying stages of dementia, residents from local care homes to various mental health conditions. For some, simply attending the group is a huge
step, particularly trying new activities each week, but the routine of a weekly workshop is really important.
## **"I don't know what I'd do if I couldn't come here, it's a good change of environment and I don't have the noise and distraction that I have at home. It gives me a break."**
## **Move and Groove**
Is a gentle creative dance session, designed to improve participants balance, coordination and confidence. Mainly attended by those of retirement age and above, for many who attend Move and Groove, the group is also a social lifeline, providing them with a group of friends, who after their workshop chat over tea and homemade cake.
## **"It’s a real feel-good group... we go away feeling good"**
## **Arts Lab**
A group for young people from 12+, an experimental art space where participants can work with professional artists, try new art mediums, build a portfolio, take part in youth social action projects, and make friends. Many of the young people who attend have been attending for over two years and we have seen them grow in confidence, develop their art practice, and form firm bonds with their peers.
## **"i like coming here to socialise, i cant socialise with anyone at my school but here i get on with everyone"**
## **Mindful Moments**
Started as our morning mindfulness over, the group varies from mindful creative practices to sound baths and meditation. The group proved so popular we expanded the over to add Mindful Afternoons, and Mindful Evenings, both offering more in the way of mindfulness; sound baths, meditations, reiki. For participants who may need additional support with their mental health, we host the peer support team directly after Mindful Moments, so people have the chance to stay after their session and chat before the weekend.
## **"This group has saved my life."**
## **Singing for Breathing**
A 6-week cohort designed to improve lung health or anxiety related to breathing, COPD, or long covid. Participants are asked to attend all 6-weeks if they are able, as the course works to a set standard as prescribed by the Singing For Lung Health course by Asthma + Lung UK. Many participants attend the course more than once as they find it so beneficial, and some move onto our SingAbout groups on a long-term basis.
## **"I used the take 5 technique from singing for breathing before my driving test. I was very nervous but doing that really helped and prepared me beforehand."**
## **Chess Craft**
Another popular workshop that crosses generations, for anyone 8+ who knows how, or wants to learn, to play chess. Supported by two practitioners, the group is encouraged to rotate game play, crossing abilities, ages, and backgrounds. We have seen the confidence of the young
people improve as they bond with older generations over the game, and likewise older participants have gained lots in helping younger participants,
## **"This is such a nice club to come to...a really nice way to spend my Saturday mornings"**
## **Men’s Art Project**
The Men’s Art Project (MAP) began in January 2025 with a clear purpose: to offer men a supportive space to come together, connect, and explore creativity. Recognising that men can often face challenges in finding emotional outlets and engaging with the arts, MAP was designed as a positive and inclusive project to offer an important chance to engage in creativity.
## **“It’s been a really wonderful journey so far, we’ve laughed a lot and had some really beautiful moments of creative, purposeful silence.”**
## **Looking ahead**
Our priority is to strengthen the charity’s financial resilience by growing our earned income. This will enable us to leverage match funding for projects that directly respond to identified needs and remain aligned with our charitable purpose. At the same time, we are reviewing and enhancing our Fundraising Strategy to navigate the increasingly competitive landscape for grant funding, which continues to be, and will remain, our primary source of income
## **Funders & Supporters**
Our work this year has been made possible through the commitment and generosity of our funders, whose support has enabled us to create lasting impact. We would like to thank:
- The Baring Foundation
- Henry Smith Foundation
- Warburtons Community Grants
- Isle of Wight Council
- Isle of Wight National Landscapes
- Sovereign Network Group
- The DWF Foundation
- The National Lottery
- Tudor Trust
We would like to extend our heartfelt thanks to everyone who has supported our fundraising efforts over the past year. We were once again proud to be the associated charity of the Wight Proms Festival, a highlight in the Island’s cultural calendar. This year, we were thrilled to run nightly raffles throughout the festival, raising an incredible £10,000 to support our work. Such a fantastic achievement would not have been possible without the generosity of local Island businesses who kindly donated prizes, and the many festival-goers whose support and enthusiasm made the raffles a huge success.
The Garlic Farm, Isle of Wight Distillery, Cowes Gallery, Goddards Brewery, House of Cowes, Joli of Cowes, Vivus interiors, Rapanui, Isle of Wight Mushroom Culture, Wooldridge Interiors, Isle of Wight Tomatoes.
We were also incredibly fortunate to be chosen as a supported charity by the Wight Strollers during their wonderful production of _Sweet Charity_ . Their generosity and dedication to helping local causes is truly inspiring, and thanks to their hard work and the amazing support of their
audiences, we were presented with a very generous donation of £1,500. We are deeply grateful for this contribution, which will make a real difference to the work we do.
Each year, we are proud to receive the generous support of the Fairest Isle Festival, whose commitment to the arts greatly enriches our work. This year, they hosted a wonderful series of workshops dedicated to early music, offering participants a unique opportunity. It was an inspiring and enjoyable day to be part of, helping not only to raise awareness of Independent Arts but also vital funds to support our ongoing projects.
Through our Big Give Christmas Campaign, we are delighted to share that we raised an incredible £4,000 in donations, which was then matched by the Big Give and our generous match funder, ShareGift. This brought the total to an amazing £8,000 to support our work. We are truly grateful to everyone who donated during the campaign and over the last year. A special thank you goes to the wonderful individuals who make regular monthly donations—your ongoing support makes such a lasting difference.
## **Financial review**
The Charity's funds remain stable. The Charity had income of £439,224 (2024: £343,413) and expenditure of £374,616 (2024: £380,628 ) giving rise to a surplus of £64,608 (2024: £37,215 deficit). Total Funds at 31/07/2025 are made up as follows:
Restricted funds £54,177
Unrestricted funds £76,459 of which 3 months running costs are designated as emergency reserve £63,982 leaving
£12,477 in general reserves.
Creditors are £97k less than the previous year. £85k of this relates to the release of deferred grant income in the year. The remaining 13k related to routine timing difference of trade creditors.
## **Going concern**
The Trustees have assessed the charity’s financial position and have a reasonable expectation that Independent Arts has adequate resources to continue operating for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements.
In making this assessment, the Trustees have considered projected income and expenditure, committed funding agreements, unrestricted reserves, and the ongoing demand for the charity’s services. Despite a challenging economic climate, Independent Arts continues to demonstrate strong relationships with funders and community partners, a diverse programme portfolio, and robust financial management practices.
The Trustees are confident that the charity’s reserves policy, income generation strategy, and operational adaptability place it in a strong position to respond to emerging risks and continue delivering creative health programmes across the Isle of Wight.
Accordingly, the financial statements have been prepared on a going concern basis.
## **Reserves policy**
The Trustees carefully considered and adjusted the Reserves Policy necessary to balance risk with the growing need for the Charity’s activities. It has maintained a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be sufficient to manage the costs of notice periods, property liability and the continuation of keys roles for a short period where there is a challenge in securing funding. This amount is equivalent to three months anticipated expenditure.
Where our reserves position is below the agreed level, the Finance and Resource Committee actively monitor the situation and seek to return reserves to the policy position as soon as possible.
The charity holds any funds not required immediately in a series of investment accounts accessed through the CAF Flagstone portal. The Chief Executive and Treasurer monitor cash low each quarter and reinvest or withdraw funds as needed.
## **Structure, governance and management**
The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during
the year and up to the date of signature of the financial statements were: Jacqueline Heany
Jonathan Bean
Leah Rice
Monica Ogilvy-Morris
Josie Pook
Graham Barnetson
David Lindsay (Resigned 10 April 2025)
Brian Marriott
Jodie Jones
Geof Ruck (Resigned 10 April 2025) Gary Peace (Appointed 4[th] February 2026) Esme Bates (Appointed 4[th] February 2026) Louise Elliott (Appointed 4[th] February 2026)
## **Risk Management**
Trustees operate a comprehensive risk register which is reviewed quarterly, to consider the risks and mitigating actions that may affect both the day to day and long term running of the charity.
## **Safeguarding**
We have a strong commitment to safeguarding our clients and those engaged in our work.
This year we have continued, as part of our annual review, to strengthen both our policy, procedure and practical implementation of these documents in the organisation.
Our Chief Executive is our Designated Safeguarding Lead, Jacquie Heany is our lead trustee for safeguarding and Ralph Ridler, Operations Manager, is our Deputy Safeguarding Lead.
All staff are safeguarding trained, and all staff, practitioners, trustees and volunteers are DBS checked.
The trustees' report was approved by the Board of Trustees.
Jacqueline Heany
Trustee
Date 27/02/2026
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF INDEPENDENT ARTS**
I report to the trustees on my examination of the financial statements of Independent Arts (the charity) for the year ended 31 July 2025.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of AAT, 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:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
Streets Rowlands Webster,
Austin House 43 Poole Road Bournemouth Dorset BH4 9DN
Date 31/12/2025
## **INDEPENDENT ARTS**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
|**Notes**
**Unrestricted**
**funds**
**2025**
**£**
**Restricted**
**funds**
**2025**
**£**
**Income from:**
Donations and legacies
**3**
99,065
249,840
Charitable activities
**4**
87,449
1,672
Investments
**5**
1,198
-
**Total income**
187,712
251,512
**Expenditure on:**
Charitable activities
**6**
130,580
244,036
**Total expenditure**
130,580
244,036
**Net income/(expenditure) and**
**movement in funds**
57,132
7,476
**Reconciliation of funds:**
Fund balances at 1 August
2024
19,327
46,701
**Fund balances at 31 July**
**2025**
76,459
54,177|**Total**
**2025**
**£**
**Unrestricted**
**funds**
**2024**
**£**
**Restricted**
**funds**
**2024**
**£**
348,905
176,003
164,346
89,121
-
-
1,198
3,064
-
439,224
179,067
164,346
374,616
185,364
195,264
374,616
185,364
195,264
64,608
(6,297)
(30,918)
66,028
25,624
77,619
130,636
19,327
46,701|**Total**
**2024**
**£**
340,349
-
3,064
343,413
380,628
380,628
(37,215)
103,243|
|---|---|---|
|||66,028|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 7 -
## **INDEPENDENT ARTS**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2025**_
|**Notes**
**Fixed assets**
Intangible assets
**11**
Tangible assets
**12**
**Current assets**
Stocks
**13**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**16**
Unrestricted funds
**17**|**2025**
**£**
350
16,217
122,620
139,187
(12,741)|**2024**
**£**
**£**
3,460
730
4,190
350
18,289
151,598
170,237
(110,311)
126,446
130,636
54,177
76,459
130,636|**£**
5,190
912|
|---|---|---|---|
||||6,102
59,926|
||||66,028|
||||46,701
19,327|
||||66,028|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2025.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 27/02/2026
Jacqueline Heany **Trustee**
Company registration number 02147908 (England and Wales)
- 8 -
## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
## **1 Accounting policies**
## **Charity information**
Independent Arts is a private company limited by guarantee incorporated in England and Wales. The registered office is 48/49 High Street, Newport, Isle of Wight, PO30 1SE.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. No material uncertainties or post–balance–sheet events have arisen since year end.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 9 -
## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Intangible fixed assets other than goodwill**
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Intangible assets comprise of the charities website. The costs is amortised on a straight line basis over its estimated useful life of 5 years. Intangible assets are stated at cost less amortisation and are reviewed for impairment whenever there is an indication that the carrying value may be impaired.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software 20% Straight line
## **1.7 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 20% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Stocks**
Stocks are stated at the lower of cost and estimated selling price less 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 consideration are measured the lower of replacement cost and cost.
- 10 -
## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
## **1 Accounting policies**
**(Continued)**
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.12 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’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 sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from donations and legacies**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
51,315
630
Grants
47,750
249,210
99,065
249,840|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
51,945
176,003
164,346
296,960
-
-
348,905
176,003
164,346|**Total**
**2024**
**£**
340,349
-|
|---|---|---|
|||340,349|
## **4 Income from charitable activities**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2025**
**2025**
**£**
**£**
Sales of services
87,449
1,672
**Income from investments**
Interest receivable|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
89,121
-
-
-
**Unrestricted Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
1,198
3,064|
|---|---|
## **5 Income from investments**
- 12 -
## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
## **6 Expenditure on charitable activities**
|||**Heading**|**Heading**|
|---|---|---|---|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Depreciation and impairment|1,912|1,959|
||Charitable activities|372,704|378,669|
|||374,616|380,628|
||**Analysis by fund**|||
||Unrestricted funds|130,580|185,364|
||Restricted funds - general|244,036|195,264|
|||374,616|380,628|
|**7**|**Net movement in funds**|**2025**|**2024**|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial|||
||statements|720|-|
||Depreciation of owned tangible fixed assets|182|229|
||Amortisation of intangible assets|1,730|1,730|
The amortisation of intangible assets is included within administration expenses.
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **Transactions with Trustees**
|Jodie Jones donation|10|
|---|---|
|Graham Barnetson donation|800|
|Josie Pook donation via Company Quantifi consulting Ltd|300|
|Jonathan Bean donation|10|
|Brian Marriot donation|100|
|Leah Rice donation|360|
- 13 -
## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
## **9 Employees**
The average monthly number of employees during the year was:
|The average monthly number of employees during the year was:|||
|---|---|---|
||**2025**|**2024**|
||**Number**|**Number**|
|Chief Executive|1|1|
|Managers|2|2|
|Other Staff|8|7|
|Total|11|10|
|Total staff costs:|||
|Salaries: £198110|||
|Social security: £8528|||
|Pensions (defined contribution scheme): £6271|||
|Other benefits: £0|||
|There were no employees whose annual remuneration was more than £60,000.|||
|**Remuneration of key management personnel**|||
|The remuneration of key management personnel was as follows:|||
||**2025**|**2024**|
||**£**|**£**|
|Aggregate compensation|24,261|-|
## **10 Taxation**
## The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. **11 Intangible fixed assets**
|**Intangible fixed assets**||
|---|---|
||**Software**|
||**£**|
|**Cost**||
|At 1 August 2024 and 31 July 2025|8,650|
|**Amortisation and impairment**||
|At 1 August 2024|3,460|
|Amortisation charged for the year|1,730|
|At 31 July 2025|5,190|
|**Carrying amount**||
|At 31 July 2025|3,460|
|At 31 July 2024|5,190|
- 14 -
## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
## **12 Tangible fixed assets**
|**Cost**
At 1 August 2024
At 31 July 2025
**Depreciation and impairment**
At 1 August 2024
Depreciation charged in the year
At 31 July 2025
**Carrying amount**
At 31 July 2025
At 31 July 2024
**13**
**Stocks**
Finished goods and goods for resale
**14**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**15**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**Plant and**
**equipment**
**£**
19,332
19,332
18,420
182
18,602
730
912
**2025**
**2024**
**£**
**£**
350
350
**2025**
**2024**
**£**
**£**
14,301
16,175
500
500
1,416
1,614
16,217
18,289
**2025**
**2024**
**£**
**£**
3,369
2,877
6,612
18,478
-
85,146
2,760
3,810
12,741
110,311|**Plant and**
**equipment**
**£**
19,332
19,332
18,420
182
18,602
730
912
**2025**
**2024**
**£**
**£**
350
350
**2025**
**2024**
**£**
**£**
14,301
16,175
500
500
1,416
1,614
16,217
18,289
**2025**
**2024**
**£**
**£**
3,369
2,877
6,612
18,478
-
85,146
2,760
3,810
12,741
110,311|
|---|---|---|
|||19,332|
|||18,420
182|
|||18,602|
|||730|
|||912|
|||**2024**
**£**
350|
|||**2024**
**£**
16,175
500
1,614|
|||18,289|
|||**2024**
**£**
2,877
18,478
85,146
3,810|
|||110,311|
- 15 -
## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
## **16 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 August**|**Incoming**|**Resources**|**At 31 July**|
|---|---|---|---|---|
||**2024**|**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
||-|-|-|-|
|Singabout|15,321|1,665|(16,986)|-|
|Sing for Breathing, Dancesense|5,153|1,125|(6,278)|-|
|Mindful Moments|2,692|833|(3,525)|-|
|Youth Arts Lab|8,071|2,651|(10,722)|-|
|Reaching Communities|15,464|140,068|(113,615)|41,917|
|Warburtons|-|400|(400)|-|
|Henry Smith Charity|-|51,000|(46,750)|4,250|
|IOW Council - National Landscape Fund|-|13,000|(12,881)|119|
|IOW Council - Early Help Grants - Home|||||
|Education|-|4,193|(4,158)|35|
|SNG|-|7,672|(7,672)|-|
|Sovereign Housing Association|-|4,320|(4,320)|-|
|The Baring Foundation|-|21,250|(13,394)|7,856|
|DWF Foundations|-|1,240|(1,240)|-|
|Other|-|2,095|(2,095)|-|
||46,701|251,512|(244,036)|54,177|
|**Previous year:**|**At 1 August**|**Incoming**|**Resources**|**At 31 July**|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
||77,619|164,346|(195,264)|46,701|
## **17 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 August**|**Incoming**|**Resources**|**Transfers**|**At 31 July**|
|---|---|---|---|---|---|
||**2024**|**resources**|**expended**||**2025**|
||**£**|**£**|**£**|**£**|**£**|
|Emergency reserve (3 mths||||||
|running costs)|-|-|-|63,982|63,982|
|General funds|19,327|187,712|(130,580)|(63,982)|12,477|
||19,327|187,712|(130,580)|-|76,459|
- 16 -
## **INDEPENDENT ARTS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
|**17**|**Unrestricted funds**|||||**(Continued)**|
|---|---|---|---|---|---|---|
||**Previous year:**|**At 1 August**|**Incoming**|**Resources**|**Transfers**|**At 31 July**|
|||**2023**|**resources**|**expended**||**2024**|
|||**£**|**£**|**£**|**£**|**£**|
||General funds|25,624|179,067|(185,364)|-|19,327|
|**18**|**Analysis of net assets between**|**funds**|||||
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2025**|**2025**|**2025**|
|||||**£**|**£**|**£**|
||**At 31 July 2025:**||||||
||Intangible fixed assets|||3,460|-|3,460|
||Tangible assets|||730|-|730|
||Current assets/(liabilities)|||72,269|54,177|126,446|
|||||76,459|54,177|130,636|
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2024**|**2024**|**2024**|
|||||**£**|**£**|**£**|
||**At 31 July 2024:**||||||
||Intangible fixed assets|||5,190|-|5,190|
||Tangible assets|||912|-|912|
||Current assets/(liabilities)|||13,225|46,701|59,926|
|||||19,327|46,701|66,028|
- 17 -