TAKE ART LIMITED Company Number 02203943 Unaudlted Flnanclal Statements For the year ended 31 M•tch 2024 NEWTON MAGNUS LTD Chartered Certlfled Accountsnts Arrowsmith Court Statlon Approach Broad5tone Dorset 8H18 8AT
TAKE ART LIMITED Unaudlted Flftandal Statements Fortheyearended 31 March 2024 Cantents P•8e Reference and Admlnlstratlve Detalls Trustees Report 2to14 Independent Examlnerfs Report 15&16 statement of Flnanclal Actlvltles 17 Balance Sheet 18&19 Statement of Cash Flows 20 Notes to the Accounts 21to33
TAKEART LIMITED Reference and Admlnlstratlve Detalls Governln8 Instrument Memorandum and Artlcles of Assoclatlon Status The company does not have a share capital an(1 Is Ilmited by guarnntee. Comp•ny Reglstr•tlon Number 02203943 Charlty Reglstratlon Number 298671 Trustees/Dlrectovs Mrs A Dawson IResl8ned June 20241 Ms SAComeTrJones Mr S Lee-French Mr R Henley Mr S Joel Mr L SllvestTlnl Mr D Drake (Appolnted October 2023) Ms L Hl88lns (Appolnted October 20231 Company Secretary R H Coppln8 S•nlor M•M8em•nt R Llster (Executlve Dlrectorl Prfntlpal Address The Mlll Flaxdrayton Farm South Petherton Somerset TA13 5LR Bankers Uoyds Bank plc 64 HIBh Street Street, BA16 OED Aldermore Bank PLC Apex Pl8Za Forbury Road Readlng RGI IAX Shawbrook Bank Lutea House, Warley Hlll Buslness Park Brentwood Essex CM13 3BE Hampshire Trust Bank Saving5* PO Box 74003 London EC2P 2QR The Co.Operatlve Bank plc l Balloon Street Manchester M4 4BE Page I
TAKE AKf UMrrED Trustees Report for the year ended 31 M•rth 2024 Independent Emamlner Cralg Dunn FCCA Newton Magnus Ltd Arrowsmith Court Statlon Approath Broadstone Dorset BH18 &4T The trustees, who are also dlrectors of the charlty for the purposes of the Cornpanles Act, submlt thelr annual report and the unaudlted flnancbal statements for the year ended 31 March 2024 prepared In a¢¢or(lance with sectlon 41912) of the Companbes Art 21)06. The trustees haN* complled fulty wlth the duty In sectlon 17151 of the 2011 Charltles Act to have due re8ard to guldance publlshed by the Chadty Commlssh)n. The wbllc benefit Is outllned In the Alms of the Or8anlsatlon sectlon of thls reporL Chirlty Structure. Governance and M•n•8enie Take Art was set up In 1987 as Somerset's Rural Arts Development Agency and, recognlsed as a key strateg1¢ organ15atlon for the county, Is re4enue fvnded by The Arts Councll En8land South West, Somerset County Councll, Taunton Oeane Borough Councll and West Somerset Dlstrfct Coundl. The lISteI offke of Take Art 15 The Mlll. Flaxdrayton F•m, South Petherton, Sometset, TA13 5LR. Actl¥ltle5 are overseen by a Board of Trustee5 wlth a mlnlmum nurnber of flve members and maxlmum oftwelve. Nomes of Dlrertors: Angela Dawson {Resl8ned Jufte 2024) Susan Comer-jones Ross Henlev Segun Lee-French Steve Joel Lu¢a Silvestrlnl Davld Drake (Appolnted October 20231 Llnd5ay Hlg8lns (Appolnted October 2023) The Olrectors are Trustees forthe PU of the Charfties ACL Page 2
TAKE AKf UMITED Trustees Report-contlnued Appolntment and Tralnlng olTrwsteeL. New member5 of the Board of TTUStees are appolnted by the members of the Board for the tlme belng. Extsting Trustees are aware of the need to draw candldates that brlng relevant skllls and expertbe to Take ArL Potential candidates meet wlth the Executfve Dlrertor who ensures that they have knowledge of Take Art and dlscusses the p051tlon wlth them. They ire then invlted to attend Board meetln8S to ensure that they are aware of the commitment and responslblllty of becoming a Trustee. Cople5 of the Memorandum and Artlcles of Assoclatlon, relevant publications from the Charlty Comrnlsslon, a copy of the most recent accounts and minutes of the last Board meetln8 are 8fven to the potentlal candklate who Is then invited to loln the 8oard. A fomial resolutknn 15 Put to the Board •t the followln8 meetln8 to conflrni the appolntmenL Take Art stsff durln8 the year were: Ralph Llster- Executlve DIrtOr Mark Helyar- Dlrector of Theatre Ruth Coppln8- General Manager Jane Parker- Early Years Manager Allson Lord- Dance Dlrector Katy Tllley- Cultfvate Ctrordlnator lfr September 20231 Nadlne Grlfflths- Prolett Co-ordlnator (left October 20231 Danny Pedler- Dlrector of Rural Tourlng Jennle Loader- Project Manager, Makln8 & Bellevln8 Veronlka Kovacs- Marketln8 Manager Becry Lloyd- RTDI Ctrordlnator Rache41 Duthle- CAAA2 Project Manager (stsrted December 20231 The board of trustee5 determines all staff remuneratlon, Indudlng that of key management, after feedback from the Executfve Dlrector. Rlsk Mana8em•nt: Take Art produces a rfsk assessmenL whlch Identlfles m•l¢r rlsks, the potentlal Impact on the or8anlsatlon and steps tsken to mltknte the r1s Thls Is revlewed re8ularfy. We belleve that the malntenance ol our free reserves and deslEnated reseeS at the thls stated later wlll provlde suffldent resources In the event of adverse condltion5. The trustees are also examlnln8 Otheroperatlonal and buslne55 r15ks which we lace wlth a vlew to establlshlng system5 to mitt8ate the sl8nlflcant r15k Relatlonshlps wlth Rdated Partles: Take Art works wlth umbrella organlsatlons, such as The National Rural Tourfng Forum, Pavlllon Dance South We5L Theatre South West. Spark Sometset and Somerset Arts Promoters. and thelr members. Page 3
TAKE ART UMITED "tiirecfr)r,.of D'are Page 4
TAKE ART LIMITED Trustees Report- contlnued Mlsslon. Vlslon and ValuÈs Our Mlsslon To deliver a transformatlonal, hlBhquality arts proBramme by provldlng fantastlc. Ilfe-changlng opportunities for people of all ages, backgrounds and abllltles to experlence. partlclpate and work In the arts. ¢r Vlslon By 2026, individuals, famllies and communitles In Somerset, the South-west and beyond will enloy and Share acces5 to memorable, live and digltal arts experlences wlth klndred 5plrlts wlthln thelr localltles and more wldely natlonally and wlthln Europe. People wlll take part in attessible. life-changing opportunltles that enrlch and transform thelr Ilves withln a sustslnable and environmentally friendly context. Artists, companles. venues, promoters and the early years sertor will be Well-source to ¢reate, produce and present extraordinary and dlverse workthat Is representstive of conternwrary soclety. Take Art will be a thriving organisation, recognlsed for our ambitious leadership in nurturing and advocatin8 the best work posslble across Somerset, the South-west and beyond, while being ope to a wealth of natlonal and intematlonal Cultural Influences. Our Values charnpioning and prornotlng excellence In the arts unlocking potentlal and transformlng INes celebrating dlversity and collaboratlng equltably actlvely contributlng to cllmate-frlendly programmes and mlnlmlslng our carbon footprlnt. Our values are both outward and Inward faclng.. they are relevant to our actfvlty programme as well a5 how we, as a staff and ljoard team, work on a day-to-day basls. Pa8e 5
TAKE AKf LIMITED Trustees R•port- contlnued Alms and Oble¢tiws Usln8 the power of arts and creativlty, rooted In Scffierset and with a natlonal and Internatlonal perspectlve, we want to: l. En¥lronmentsl Responslblllty and Impct." pri)duce work that champlons envlronmental Iustlce by mltl8atlng our own irnpact on the planet; enabllng others to improve thelr Impact; and. by allgnlng with bcal, natlonal and global Initlattves, address the cllmate emergency. 2. Heakh and Wellbelng: make a posltlve dlfference to the mental, emotEonal, and physlca health and wellbelng of eryOne we work wlth laudlences, partlclpants, artlsts, volunteers and staffl, Indudlng addressln8 vltal Issues that help Indlvldua15 and communltles to reach thelr full potentlal. 3. Dl¥erslty and Induslan: offer a programme that aryone can access. Reco8nlsln8 and valuln8 the rlch cultural dfverslty In Contemporary sodety. we wlll take positlve actlon to refiect, promote and champlon dlverslty and equallty withln the organtsatlon and everythlng we do. 4. Organlsatlonal Reslllen¢e: thrive as a collaborath, sustslnable organlsatlon, recognlsed for our ambltlous leadershlp In nurturlng and advocating the very best In dance, theatre, musl rural tourln8 and eath years ueatmty. These Alms underpln our proposed PTO8ramme. Eath project has a serles of Annu•l Prlorlty ObJ•ctlvu that are updated each year and used as the bas15 for our 1Ment wlth Arts Coun¢ll England. Take Aryi Spedallims The easlest way to thlnk of T•ke Art ts as'flve serS In one or8anlsatlon': Take Art Rurnl Tourlry plays a vttsl role In keepSn8 vllla8es allve and vlbrant through our well- èstabllshed and successful tourlNq scheme that offer5 memornble Ilve experlences to thousands of people across Somerset, Tak• Eath Yeavs support5 very youn8 chlklren. familles, pTrrtitloners and organlsatlons to experlence excellent ¥T¢ workln8 collaboratl¥ely to explore and enhance youn8 thlldren's ueatlvlty and well bein& Take Art Dance oversees strate8lc dance dwftlopment In the county and represents the county on reglonal level through Its support of hkqh quallty perforniafi and partldpatlon throu8ho Somerset. Take Art Theatre create5 and supports opportunltSes for makln8 great theat that reaches. connects and transforms Irl¥lduaIs and comrnunrtle5. Take Art Muslc enables vulnerable children and young people to reach thelr potent1 through dynamlc programme of partldpatory muslc Man8 Initiatlvu. Page 6
TAKE ART LIMITED Trustees Report- conllnued Poll¢yAreas: Our Pollcles are summarlsed below. Further infomiatlon can be found In our Buslness Plan 2023-24. Equal Opportunltles We are committed to the prlnclple that there should be genulne equaltty of opportunity for all sectlons of the populatlon In the practlce, appreciatlon and enJoyment of the art5. To thls end Ilcy of equal opportunities infomis and guide5 all aspects of our work. We wlsh to secure genuine equallty of opportunlty throughout our work as a rural arts development agency across dlfferl soclo-economk groups In the provlslon of our seThices, In our responslbllltles as an employer and In our own management Stfutture. We set high standards of practlce that reflect the legislation contained wlthln The Equality Act 2010 whlch legally protects people from dlscrlmination In the workplace and In wlder soclety. Diversity We value dlversity and celebrate the cultural and soc181 differences between Individuals and communitles in SomerseL We recognrse that Somerset Is a predomlnantly Nrdl county in which partlcular indlviduals and communities can become Isolated and dlsadvantaged as a result of where they Ilve or work. Our des1 to address the5e15sues, where approprlate. ts reflected throughout our work. In recognltlon of the rkh cultural diversity that exists In contemporary Brltish society, we wlll encourage and asslst any disadvantaged group to achleve a posltlon from which equallty of opportunity can operate, In support of this policy we have a Dbversity Actlon Plan that Is monitored on a regular basis. Our seNlces, pollcles and procedures are deslgned not to dlscrlmlnate elther dIrtI¥ or Indirectly agalnst any group or Indlvldual. our Dlverslty Actlon Plan takes cognlsance of dlverslty leglslatlon as defined In the Equallty Act 2010 that replaced prevlous antl4lscriminatlon laws lincluding the Sex Discrimination Act 1975, the Race Relation5 Art 1976, and the Disability Discrlmlnatlon Act 19951 wlth a slngle Act. Di$abillty Attess For many dlsabled people, oppOrtUnleS for enjoylng and taklng part In the arts are severely Ilmlted. Although the difflculties arising from physic31 access are probably the most immediately vi51ble, there are problems of attitude, which can be even more daunting than physical barriers. We are commltted to the prlnciple of maklng our aetlvitles more a¢cessible to people as demonstrated In our DlversltyActlon Plon. Educatlon We belleve that educatlon has a cruclal role In developlng an Informed understanding of the arts. In its broadest sense education offers countless ways of broadenlng acce55 to the art5: it is a lrfelong process whlch takes place through play. fomial teachln& partlclpatlon, personal enthusiasm and experlence. Page 7
TAKE ART LIMITED Trustees Report- tonfjnued Educatlon can open up new learnlng opportunlt5es and encourage people to acqulre the skills, understandlng and confldence for them to appreclate partlclpate In and enjoy the arts. EducatSon a lorsg-term investment. It Is at the heart of our cornmitment to nurturing those who already have had some experience of the arts as well as a powerful medlum for extendlng the arts into the lives of those who have not experienced them. Chlld Protectlon We dellver a wlde range of arts actlvltles that invofve worklnB wlth children, young people and vulnerable adults. In all our areas of work we endeavour to keep everyone Involved in our arts actlvities safe: artlsts, volunteers, employees, particlpants and audlences. Our Child Protectlon document sets out the procedures to be followed If a childi young person or vulnerable adult glves cause for concern, together with 8uldellnes and examples of good practice for staff and other people afflllated wh Take Art. We work with a range of groups and agencles includlng the local education authorlty health trusts. the reglonal arts board, the county and dlstrlct lelsure and arts officers and both the youth and social seNlces. We also work wlth other IoL71, regional and natlonal arts and voluntary arts organi53tions. Our Chlld Protection Policy applies to artists, employees, volunteers. board members, partlclpants and audlences. It relates to chlldren under the age of 18 and vulnerable adults of any age who are identified to Take Art. In recognislng the dlfferent need5 of chlldren and vulnerable adults from all ethnlc groups and chlldren who ore dlsabled, we actlvely seek to meet the needs notlfied to us bv parents; carers; guardlan5; teachers; and youth workers. All Take Art employees have, or are In the pro5$ of obtalnin& Enhanced DS8 dlsclosures. Safeguarding Chlldren. Youni People and Vulnerable Adults We are commltted to ensuring that the vulnerable people we work with are safeguarded. Thls means dolng everything we can to reduce the risk of a person comln8 to harm whlle parti¢ipatlng In any of our artfvities, and knowing what to do If we belleve a person Is sufferlng from harm caused outslde the workshop settlng. We provlde safe worklng guidellnes for all artists and practltioners contracted by us to work wlth vulnerable adults, Includlng approprlate actlon that might need to be taken should a safeguarding Issue arlse. We support Somerset Skllls & Leamln¢s Safeguardlng Poll¢y, We do not Investlgate Issues of concem oursefves in relatlon to vulnerable adults. Somerset County Counal and the pollce hold the lead responslbilities for respondlnE to allegatlons of abuse In relation to adults and In co-ordinatlng the local Interagency framework for safeguardlng adults. We wlll brlng to the attentlon of the soclal seDJices and police any concerns or allegations identlfied through any part of Its work. PaEe 8
TAKE ART LIMITED Trustees Report- Conilnued The leglslavdon that supports our chlld Protectlon Polky Chlldren's Act 2004,. Safeguardlng Vulnernble People Act 2006; Protectlon of Freedom5 Act 2012; Sexual Offence5 Act 2003: The Data Protectlon Act 1998; The Police Act 1997; The Human Rlghts Act 1998; The Protection of Children Act 1999; and The Equallty Art 2010. Tralnlng and CPD We are eommitted to offering opportunlties for our staff to add to their stock of skills, partlcularly where there Is an overlap between the requlrements of the organisation and of the Indivldual staff. We also encourage the inclusion of tralnlng programmes for participants in re5idenae5 and other projects. We try to offer bur5arles and cornmb51ons as part ofthe resldency programme. We also manage an onEolnE programme of trainln& peer support and CPD opportunities to develop artlsts and practitioners who live and work across Somerset and the South West reglon wlth the alm of Increaslng employment opportunlties for the future. Ethlcal Fundralslngstatement Senior staff will diseuss ethical fundralsing155ues and the Board and Executlve Dlrector wlll make flnal dedslons. Take Art b grateful to recelve support from a varlety of sources and the or8anisatlon is keen to work with a wide range of partner5 to dellver hlgh quality work. Whlle every effortls made to ensure that the donorlsponsorfs wlshes are met and that the relatlonship with donorslsponsors 15 P051tlve and fruitful for everyone, the may be occasions when it is not possible for Take Art to accept a gift or sponsorship. Take Art wlll consider glftslsponsorships assessed on three core principles: The glftsisponsorshlp offered should broadly support the alms of Take Art. It should enhance the reputstlon of both Take Art and the sponsor and pert the integrity of Take Art. Whlle Take Art W15hes to deliver high quality worK whlch has the full support of the Intendln8 sponsor, It Is Important that any sponsor recogn15es Take Arfs commltment to artlstlc and academic freedom. Envlronmentsl Su5ts1nabifity Policy Take Art recognises the Cllmate and Ecologlcal Emergency. There are the strands to our strategy: Economlse and reduce waste. Retycle waste products. Reduce heat loss in our offlces. Be an advocate for reduclng environmental Impacts whèn we give advlce to artlsts and companles. Page 9
TAKE ART UMITED Trustees Report- contlnued Revlew of Athlevements 202312024: Introductlon Take Art is a pioneerin8 tharity and drlvlng force for developlng and conne¢tin8 the art5 wlth indivlduals and communitles In Somerset. Starting as a rural tourlng Scheme in 1987, we've consolidated our posltlon over the last three years as one of the count¢s adIng arts organlsations and an ongolng Arts Counal National Portfolio Organi5atlon. From our office base on a fami near South Petherton, we see ourselves as the 'glue' that brlngs audiences, participants, artists, companles and venues together. Artlstk Programm5ng 2023124 dellvered a dlverse menu of companles that was received posltlvely by our volunteer promoters. The Rural Tourlng menu offered theatre, dance, circus, spoken word and musl4 all sh¢)WS that reflected a myrlad of perspectlves and personalltles. The ran8e of show5 represented artlsts identlfylng wlth a range of genders, dlsabilitles and had a healthy ethnic dlverslty. Partlcular hlghlights Included a retum to hls natlve Somerset for Inaugural poet laureate Taffy Thomas With Chri5tma5 5torytellinE show; a tour of a charming non-verbal family show The Former ond the Clown from Flibbertigibbet theatre, whlch enchanted the whote Axbrldge Flrst school among many other venues.. we fllled Somerseys vlllage halls wlth musi¢ wtth hlghll8hts Includlng slnger4ongwrlter Blalr Dunlop and French dante band Crl du Canard. Allezl Dance and circus were provided outside of the RTDI and CA4A to keep our programme varied and enthusiasm for these artforms keen. Outdoor shows were programmed but uptake was lower thls year than the Covld year5, audlences were generally low, promptlng 8 re-evaluatlon of the number of outdoor shows that the RT scheme can accommodate. and the extra time needed to promote these shows. rtd Among a range of artivity, the Cultivate programme dellvered Chlll on the Hlll for a 2 year. Thls one-day family event at Ham Hlll Included a range of workshops and a perf0rnan of Pirate Taxl from Pirates of the Carabina. BARN, a collectNe theatre development Inltlatlve fadlltated by Take Art, came to a SUCSSfUl end durlng the year after slx years of support from the Esmée Falrbalm Foundatlon. Page 10
TAKE ART LIMITED Trustees Rep(Yt- contlnued Partlclpatlon & Engagement Rural Tourlng: 3,777 people came to RT shows In 2023124 and our average audlence size was 65. For the 2024125 season we are almlng to Increase thls average audlence number to 70. Early Years: Soundwaves Network South West engages wlth rnany of the Music Educatlon Hubs In the south west, almlng to develop eorly years muslc prolectsj practlce and strategy, supporting Early Years Muslc Leads with each partner and dellverlng CPD for musie practltloners and EY staff. Making & Believing continues wlth Its cros5 artform perfomiance and partlclpation programme wlth partners Derby Theatre and Surrey Art& Theatre: a new Iteratlon of WordlPlay was delivered In partnershlp wlth the Hub, Yeovll, for trainees wlth learning disabilities and autlsm supported by the Natioanl Lottery Communlty Fund. Legacy from the Impact of the Thriving Communities Somerset project has been managed by a Social Prescrlbing Vlsion group. Eed by Spark Somerset, of which we're a partner. We started SOIL STORY, an intergeneratlonal, land-ba5ed project for socialty Isolated adults with additional needs and home educated young people, that Uses arts and food-related actlvlty to transfomi our relatlon5hip wlth soil, each other and our communltles. Thls Is dellvered In partnershlp with ARK at Egwood and Rama Llfe and supported by The Ashley Family Foundation and The D'oyly Carte charble Trust. Dan. The Rural Tourlng Dance Inltiative prograrnmed 25 shows across 7 South West rural touring 5cheme5 and associate venues. RTDI 3 has been developed wlth a 5ub5tantlal project budget of £1.3m as part of a legacy programme, Our Turn contlnues weekly sesslons at St Peters community hall dellvering sesslons to participants livin8 with dementla. Sprlng Forward tk place over 3 nlghts In Brldgwater and Taunton wlth over400 partlclpants and wSth 2 sell out audlences Muslc: contlnues wlth a one to one or small group actvltly wlth younE people excluded from 5ch¢x>l (My Tunes) dellvering over 120 sessions In the year and wlth young people at rlsk of becoming NEET Iouttherel. Take Art has maintalned contsct with its European partners and contlnued to support the development of European rural touring networks which have been impacted on in different ways as a result of the pandernlc. Thls contlnues wlth Take Art havlng an advocacyi research and evaluatlon role In the SPARSE Plus project startlng In February for 4 year5. The project partnershlp Involves 11 partner5 from 8 countries. Equallty We now share the facllltstlon of the Arts and Culture Dlverslty Forum Somerset wlth Somerset Fllm nd Somerset Art Works. Our equality pollcy and actlon plan Is updated annually and we are seeklng to recrult more board members from a culturally divetse background. Page 11
TAKE ART LIMITED Trustees Report- contlnued The Creative Case forms an Integral part of our Equality and Diversty Pollcy and Action Plan, This helps to ensure that the choices we make around equallty {eg recruitment, programmlngl are over and above the requlrements of the 9 protected characteristlc5. We successfully dlverslfled our board membershlp In ternis of cultural dlverslty. Through our digital and prlnt plarforms we proof all materlal to ensure there Is a broad cultural representatk>n. We review and update our pollcy and actlon plan annually. Our broader equallty pollcy means that we work speclflcally wlth dlsadvantaged chlldren and young people as a priorlty eg NEET. CYP In lowest Social mobillty area In country. Management Progress made Includes: Take Art has a strong stsff team and Board of Trustee5/Directors wlth prolect staff complementlng the core team. We have recrulted new Board members. and the organlsatlon Is rrentlY In a Stable posltlon. Flnanclal Ststus Take Art enjoys financlal support from a number of key grants givlng authoritles Includlng Arts Councll England IACEI, Youth Muslc, Esmee Falrbalrn and the Paul Hamlyn Foundation. We end the year in a financially stable poSIon. Investment power5 Under the Memorandum and Artlctes of Assoclatlon the charity has the power to make any investments, whlch the trustees see fit. Reserves Polley: The Trustees of Take Art consider that certain levels of reserves are required in order to run the company In an orderty and prudent manner. Reserves are held by Take Art In three funds: Restrlcted funds, Designated funds and Other Charitable funds. Restrlcted funds represerrt money earmarked by the donor. The dlrectors can only use these funds for the spedflc purpose for whlch they We given. Page 12
TAKE ART LIMITED Trustees Report- tontlnued Unrestrlrted funds are dlvlded Into two parts: Desl8nated funds and other Charltable funds. These are funds that the dlrectors may use for any purpose wlthln the obletts of Take Art. The dlrectors have declded to deslgnate, l.e. earmarl certaln funds for future use: l. The smooth operatlon of the company Is dependent upon Its staff and any form of hng- tenn Illness would Involve the company In addltlonal ¢t for temporary staff. Funds have been set aslde to enable Take Art to employee temporary staff for approxlmately three months should the need arlse. 2. The core fundlng of Take Art Is agreed on a year.by-year ba51s. Should any ot the core funders not provlde the funds requested then the future of Take Art would be In doubt. The company would need to conclude It5 actfvitles In an orderly manner and eventualty make Its staff redundant. Funds have been set4slde In case thls unfortunate drcumstance should arlse. The trustees con$lder that a certaln level of unrestrlcted funds held as "Other Charltable funds. needs to be held as 8 reseNe to enable Take Art to take advantage of change and opportunltles. The present level Is £110,379. The budget for 202312024 Indlcates that a modest reductlon In other charltable funds wlll be achleved. Fln•nd•l R•vlew Take Art held ndS totallSng £347,739 at the year end. Of thls amount £168,955 Is held In Restrlcted funds whlch means that they can only be used for the purpose speclfled by the body whlch gave the funds to Take Art. The Trustees have earmarked £68,405 of the remalnder In Deslgnated funds to be used for speclflc purposes, these funds are to cover staff Illness, redundancy and maternlty leave and allocatlons to speclflc projects, These funds are revlewed every year, The balance of £110,379 In the furtherance of the 8eneral oblects of Take Art. Truit•es Rejpanslbllltles In relatlon to the ftnanclal statements The trustees Iwho are also the dlrector5 of the company for the purposes of the Cornpanle5 A¢tl are responslble for preparlng thelr report and the flnanclal statements In accordance wlth appllcable law and Unlted Klngdorn Generally Accepted Accountlng Practlce IUK GAAPI. Company law requires the trustees to prepare flnanclal statements for each flnanclal year, whlch 8lve a true and falr vlew of the state of affalrs of the company and of the surplus or deflctt of the company for that year. In prepJrln8 th05e flnanclal Statements, the trustees are requlred to:. select sultable accountlng pollcles and then apply them conslstently: • make ludgements and estimates that are reasonable and prudent; • prepare the financlal statements on the golng concern basls unle5$ Itls inapproprlate to presume that the company wlll ntfjne Its charltable actlvltles, Page 13
TAKE ART LIMITED Trustee5 Report- contlnued The trustees are responsible for keeping proper accounting records, which disctose with reasonable accuracy at any time the financlal posltion of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also respon51ble for safe- guardlng the assets of the company and hence for taking reasonable rteps for the preventlon and detection of fraud and other Irregularities. Th1$ report has been prepared In accordance wlth the Ststement of Recomrnended Prartlce: Accounting and Reportlng by Charltles IFRS 1021 (effective January 20191 and In accordance wlth the speclal provlsk)ns of Part 15 of the Companies Act 2006 relatlng to Small entltles. Approved by the Board on 7 P and skqned on thelr behalf by: S LetrFrench . Trustee Take Art Llmlted The M151 Flaxdrayton Farm South Petherton Somerset TA13 5LR Page 14
TAKE ART LIMITED Independent Examln*$ Report to the Trustees of Take Art Umlted I report on the accounts for the year ended 31 March 2024 set out an pages 17 to 33 Respectlve responslbllltles of the trustees and •xamlner The trustees (who are also the directors of the company for the purposes of the Companles Act) are responsible for the preparatlon of the accounts. The charStVs trustees con51der that an audlt Is not requlred thls year under sectlon 144 of the Charitles Act 2011 and that an Independent examlnatlon Is rèquired. The charitsrfs gross Income exceeded £250,000 and l am quallfled to undertake the examlnatlon by belng a quallfled member of the A5soclatlon of Chartered Certlfled Accountants, Havln8 been satlsfled that the charlty Is not subject to an audlt under Part 16 of the Companles Act 2006, It Is my responslblllty to.. examlne the accounts under Sectlon 14S of the 2011 Act to follow the procedures lald down In the General Dlrectlons glven by the Chorlty Commlsslon lunder Sectlon 145151 of the 2011 Artl; and to state whether partlcular mattèrs have come to my attentlon. Basls of Independent examlnefs report My examlnatlon was carrled out In accordance wlth the General DlrertSons 8lven by the Charlty Comm15slon, An examlnatlon Indudes a revlew of the accountlng record5 kept by the charlty and ¢omparlson of the accounts presented wlth those records. It also Snclude5 conslderatlon of any unusual Items or dlsclosures In the accounts, and seekln8 explanatlons from you as trustees concernlng any such matters. The procedures undertaken do not provlde all the evldence that would be requlred In an audlt, and consequently no oplnlon Is 8lven as to whether the accounts present a 'true and falr VIe and the report Is Ilmlted to those matters set out In the statements below, Independent emamlnerfs sl•tement In connectlon wlth my examlnatlon. no rnatter has come to my attentlon: which gfve5 rne reasonable cause to belleve that, In any materlal respect, the qulrements to keep accourttln8 records In accordance wlth sectlon 386 of the Companles Act 2006 and sèctlon 130 of the Charltles Aet 2011; and to prepare accounts whkh accord wlth the accountlnE records and to comply wlth the accountlng requlrements of the Companle5 Act 2006 and wlth the methods and princlples of the Statement of Recommended Practlce: Accountlng and Reportlng by Charltles IFRS 1021 (effective January 20191 have rt been met; OT PaEe IS
TAKE AKf UMrrED 121 to which, in my opinlon, attention should be drawn In order to enable a proper understsndln8 of the account5 to be reached. Cralg Duhn FCCA For and on behalf of Newton Magnus Umlted Charted Certlfled Accountants & ststutory Audltors Arrow5mith Court ststion Approach Broadstone Dorset BH18 8AT Date: i( De6f Page 16
TAKE ART LIMITED Statement ol Flnan¢lal Artlvltles Forthe yearended 31 Mah 2024 Un Notes r•ttrfet•d R*S¢t•d 2024 2023 Ineome and Expendlture Income Income and endowments from: Donatlons and legades Charltable actlvltles Income from investment5 213,320 71.773 4,119 24,708 170.489 238,028 242,262 4,119 220,646 335,542 1,050 Totsl In¢omq 289,212 19S,197 484,409 S57,238 Exp•ndltur• Expendllure on.. Ralsln8 funds Charltable actlvltles Governan costs 4,052 283.S09 8,252 4,052 501,732 8,252 4,052 543,113 8.252 218,223 Tot•1 expendlture 295,813 218,223 514,036 555.417 Nét 1neome1{•xp•ndlj b•for• tsx 16.6011 123.0261 {29.6271 1.821 rax payable Not Incomal{•xp•ndltur•) farth• y•ar 16,6011 123,0261 129,6271 L821 Transfers between funds Net movement In funds 16.6011 123,0261 129,6271 1,821 Aecondllatlon of funds.. Fund Bat•n¢•s at l Aprfl 2023 185,385 191.981 377,366 375,54S Fund Balanc at 31 March 2024 178,784 168,955 347,739 377,366 All actiYStles durlng the year are contlnuln8 actlvllles. The notes on pages 21 to 33 form part of these accounts Pa8e 17
TAKE ARTIIMITED Balance Sheet as at 31 March 2024 Notes 2024 2023 Current Assèts Debtor5 Cash at bank and In hand 14.952 367,107 63,566 367,717 382,059 431,283 Credltori- Imounts fallln8 du• wlthln ono Y•Ar 34,320 53,917 Total Assets lem Currtnt Uabllltl•s 347,739 377,366 Total n•t aM•ts £347,739 £377.366 Fund$ of the tharlty Re5trlcted funds 168,9S5 191,981 Unreslrlcted funds De51gnated funds Other Charitsble fvnds 68,405 110,379 79,542 105,843 li Total fun £347.739 £377,366 The company15 entltled to exefflptlon from audlt under Se¢llon 477 of the Companles Act 2( relatln8 to small companles. The dlrectors have not requlred the company to obtaln an audlt of Its flnanclal statements for the year ended 31 March 2024 In accordance wlth Sertlon 476 of the Companles Att 2006. The dlreGtar5 a¢knowled8e thelr responslbllltles for: al ensurlnB that the company keeps accountlng recordswhlch comply wlth So¢tlon9 386 nd 387 of the Cornpanles Act 2006 and bl preparlng flnanclal statements whlch glve a true and falr vlew of the State of affalrs of the company 45 at the end of each financlal year and of Its proflt or1055 for each flnanc5al year In accordance wlth the requlrements of Sectlon 394 and 395 and whlch otherwlse ¢omply with the requlrements of thè Companles Act 2006 relatlng to flnancial statements, se far as appllcable to the company. Page 18
TAKE ART UMITED Balance Sheetas at31 Marth 2024 The flnanclal ststements have been prepared In accordance Ith the provlsions of Part 15 of the Companies Act 2¢J06 relatjng to small ¢ompanles and In accordance wlth thè Stat•mèTht of Recommended Practlce.. Accountlng and Reportlng by Charltles IFRS 1021 leffectlve january 20191. The flnanclal staternents approved bytha dlrnctoron 7-1l-LV und were slgnéd by. S Lee-French Tha not•s on pag•s 21 to 33 forni partof these 8¢counts Page 19
TAKE ART UMITED Statement of Cash Flows fortheyear end•d 31 March 2024 Notes N•t ¢ash from operatlng actl Net Sncomellexpendlturel forthe year Interest re¢elved IlncreasellDecrease In debtors IntreasellDetteasel In credltors 129,6271 14.1191 48,614 119.5971 1,821 11,0501 I67 141,8221 Net cash absorb•d12024-generatedl by operatlnl act[tIO$ 14,7291 139,1841 C•sh flows from Inv•rtlng attlvltles Interest recelved 4,119 1,050 Net Cash umd In Inwrtlni •ctlvltl¥ 4,119 I,oso Net Cash umd In ftn•n¢lng act1& Net dec$ In Cbsh and caih •qulvalonts Cash and cash equlvalents at the be8lnnlng of the year 16101 367,717 138,1341 405A51 Cuh •)d ush equlval•nts ¥t thg end ofthe y••r 367,107 367.717 Page 20
TAXEART LIMITED Notès tothè Flnanclal Statements Forthe year ended 31 Marth 2024 5tatutorylnfomiatlon Take Art Ltmlted Is a prlvate company Ilmlted byguarante< registered In England and Wales. The company's reg15tered number and re815tered office address can be found on the Company Informatlon page. The company Is reglstered a5 a tharity. B¥s15 of accourbtln8 Thè5efinanclal statements have been prepared In accordance wlth the Statement of Recornmended Practice.. Accountln8 and Reportlng by Charitles preparlng their accoullts in accordan¢e wlth the Finan¢lal Rew)rting Standard applicable In the UK and Republlc of Ireland (Ffts 1021, the Flnandal Reportlng standard applÉcable in the Unlted KlnBdom and Republlc of Irelard IFRS 1021 and the Companles Act 2006. The charlty constttutes a publlc benefit entlty as defined by FRS 102. The trustees have concluded that the financlal ststements glve a true and fairvlew of the company'5 finanual position and flnandal performance. Atrue and falr overrlde ha5 been used to apply the Charltles SORP IFRS 1021 underthe Charlties IA¢¢ounts and Reports) Regulatlons 2008. The company has complled wlth FRS 102, the SORP or applicable legislatiorn exceptthat it has departed frorn a partlcular requirement of the SORP to reco8nise tsnglble fixed assets on the balance sheet at historical cost and depreclatlng them as approprlate. The trustee5 do not cortslder capital purchases to be merlal and they are wrltten off fully In the year of purthase. Thls pollcy has been applled In prKJr rI0¢ and as a result the company holds no flxed assets on its balance sheet. Accountlr¥ Polk*5 The prfn¢lpal accounting poll¢les adopted bythe company In the preparatlon of its financlal stataments are as follows.'- al ACCOUnnE Conventlon The fiftanclal statements have been prepared under the historical cost convention. bl Income Income i% the amount derived from thè priwision of Eood5/5Èrvice5, and stated after trade dlscounts. other sales taxes and VAT. I IrKome1s Intluded In the statement of financlal activities when the charity Is entitled to the Income and the amoLtnt can be quandffed wlth reasonable Kcuracy. The folSowln8 speclflc pollcles are applied to particular categories of income.. Page 21
TAKE ART UMITED Notes tothe Flnandal Ststements- ted Forthe yearonded 31 Marth 2014 3 Acco18 PolEd•s-tantkmd 11 Revenue funds¢omprise 8rants and spOrship rtyble from publk and wlvate bodles. Whèn donors 5peclfythat grants glven tOtheCharftyThst be used In futwe perfods, the Income Is deferred until those perlod& When donors specifythatgrarts are for partlcular restrkted purposes whlch do notJmount to pre-condltlons regardlng entemen[ thts Income Included In In¢omln8 resourw of restrlrted funds whtn recdvable. 111 Project Income Is derf1 frorn perfMaKeS works) 1111 Invèstment Income ts Induded wthen rtt¢tvable bythe tharlty. cl Resources expended Resources exp¢nded are Induded In the Statement of Hnandal Acfjvlues an KCTuals basl Inclulve of any VAT whith tannot be reco¥efed and IrKludlr4 equlpment whkh 1$ wrltten off In the year of purchase. 11 Costs of6eneratl wluntsry Income comwlse those costs assrKlat•d wlth 8eneradn8 core fundlng. 111 Expendlture on charltable actlvlties comprlses those costs Incurred bythe tharbty In the delIry of Its ac¥vltiès and 5er4lces for its benefidarles. n Includes b)th costs thètcan be allotated dlrectly to such artlvltles and those costs of an Indlrett nature necessary to Sup1 them. 1111 Governance costs Include those costs 8ssodated wlth meetlre the constltuil¢)nal and Statutory requlrements of the charlty and Include costs linked to the str•te8k management ofthe charlty. Iv) Certairt expèndlture 55 dlrectty attrlbutable to speclflc actl¥lUes arNI has been Induded In th05e ¢ost categorles. Certaln other costs. whlch are attributable to mort than one Jrtl¥Aty, are apportloned across¢ost categoiles on the ba515 of an e5tlmate of the proportlon of tlme sp1 bv stsff on those aamtles. dl Fund aEcountin Funds held bythe d)arlty are elther.. • Unre5tr1cted general funds- these are fvnds vthich can be used In accordance ¥Ath the charltable oblects at the dlscretlon of the trust • Designated funds-the5e are fund5 set ath bythetr4ee5 tyjt of unre5tr1rted seneral fund5 for speclftc future purposesor project& . Restrlcted funds- these are funds th can onty be used for particular restrlrted purFwe5 wlthin the obletts ofthe charlty. Rstdcttons arise Wh Sped by the dortoror when fvnts are raised for partkular restricted purwse5.
TAKE ART UMITED N¢)tes to the FlnandJl StateMents-nI1nUed Forth•year ended Marth 2024 AccountbDg PdldÈs. contlrnd Further explanatlon of the nature and purpose of each fund Is Included In the notes tothe financlal statements. el The cornpany operates a defined contribubon scheme forthe trjenefrt of its employees. The costs of contrlbutions are charged In the year they are payable. Opwatlng lease5 Rentsl costs under operatlrE leases are charged to the Statementof Financial Actlvltles In equal amounts overthe term of the lease. 81 Equlpment purchased was written off fully in the year of purchase betause the trustees do not conslder It to be rnaterlal to the accounts. h) All of the chartty's activltles were conttnued in the currert and prou$Vedr. 11 Credltors and prOvIon$ are reco8nised when the comparkv has a present obll8atlon a resu from a past event that will probably result In the transfer of fullds to a thlrd party the amount due can be rellably measured, 11 Monetary assets and liabllldes forelgn currencles are translated into sterling at the rates of exchange rullTrg at the balance sheet dats. Transaction5 in fLYeign cUrrCleS are tran51ed Into sterllng atthe rate of exchange rullng at the date of transaction. EXChae dlfferences are taken Into account In ri¥lrng at the net Incomelexpendlture fortheyear. Page 23
TAKE ARTUMtTED Notss to the FlnaKhl St*ments.wrtln Forthe yew ended 31 Marth 2024 4 Incorne 2023 Analyslsof incorne LIOnlOn5 and lewle5 Local authorltles Arts Councll for England South West 24,708 47,208 57,267 163,379 020 213320 24,708 238,028 220,646 Charlt•bl• •rtbAtI Rur81 TourfD8 Income from deflned charftable projects Other Incomlng resources 43.203 27,365 4205 43.203 170089 197,854 1,205 51,62S 283A29 88 7L773 170.489 242.262 335542 In¢omefrom In¥•#m•nts Intsrest Income 4,119 4,119 L050 4,119 4,119 LOSO Totsl Incoffv 289212 195.197 484.409 557,238 Page 24
TAKE ART LIMITED Notes tothe Nnantlal Statements- conthiued Forthe yeafended 31 Marth 2024 Expendlture UTr restrk*ed Restrfcted 2024 2023 RaIsIngfd9 Salade5 4,052 4,052 4,052 4,OS2 4,052 4,OS2 Charitsblè actlvltles Salaries Establishment expenses Artists fees and anclllary eXndItUre Adrnintstrative expenses Travel Marketlr Book keeplng Forelgn currency Igalnllloss Flnance charge$ 175,112 12.286 69A66 244,578 12,286 277,168 IL690 38.139 33,817 8,878 5,104 7,310 1.990 873 74,702 56,217 10,641 6973 I1241 90,034 19.519 12,077 7,310 1,990 IXJ97 140,642 73,205 24,687 8,749 224 1.095 283,509 218223 501,732 543,113 Governance rosts Salarles Ac¢ountan¢y Independent eKamlnatlonlAudlt 4.052 2,BOO L4CKJ 4.052 200 L400 4,052 2,800 1,400 8,252 8,252 8,252 Totsl expwdltwe 29513 218,223 514.036 555,417 Itls the nature of thechartyto provtde supportfor the arts, it Is therefore Impos>ble to dlstlngutsh between 5UPPOrt as a charitable xUvtty and support tc the charSty itself. Certaln costs, whlch are attrlbutable to nwjre than one acttvity, ore apportioned across cost categorles (note 91 on the ba515 of an estimate of the proportlon of tirne spent by staff on those actlvitles. Page 25
TAKE ART LIMITED Notss to the Flnanclal Statements. Contlnued Forthè year•nded 31 Marth 2024 Net InmMExPendItr0 2024 2023 Net ITKomelexpendlture ts arrlved at after chBr8ln8- Independent examiners remuneratlon Other fees pald to the Independent exaffllner 1,400 2,800 1,400 2,800 7 Débtors 2024 2023 Workshop* performance and travel fees Prepayments 12,792 2,160 61.649 1.917 14,952 63,566 8 Cr•dltorJ. Amounts f•ll1 du• wlthln on• y••r 2024 2023 Grbnts Involced In advance Other credltor5 Accruals 3,000 24.310 7,010 8,000 38,733 7,184 34,320 53,917 Page 26
TAKE ART LIMITEO Notes tothe Nnandal Statements- caned Forthe yearended 31 Mar¢h 2024 Regtrkted Funds Transfers between restrlcted fvnd5 At l April Movements in resources 2023 Incomlng Outgoln8 At 31 March 2024 Barn Circus Around And About Cultlvate Cultiwdte Soll Story Emerge EY Making & Belie¥in8 EY Soundwaves Network Hatch Beauchamp Jump Start Llttle Blg DatKe MyTunes SFS OurTum Outthere The Rural Tour5ng Dance Initlatlve 3 Sparse Plus Spring forward WordlPlav 1.760 326 47,547 I51 11,501 1393 693 47,547 4,533 7,800 2,250 20,374 53,647 709 600 2,000 575 8.OSB 5,983 3,001 3,701 2.250 111,345 31954 90,971 50,768 7L461 709 1,600 8.055 6.055 8,325 9396 9,OQO 19,959 8,804 1,800 4,450 8,9thJ 18,054 9.0(K) 33,598 8804 L800 4.721 18.360 5,259 809 19L981 195.197 218,223 168355 Pa8e 27
TAKEART LIMITED Notes tothe Flnan¢Sal Ststements- contlnued Fortheyearended 31 March 2024 9 Restrkted Funds- prlor year Tronsfers At l Aprll Movements In resources between 2022 Incomlng Outgolno restrirted funds At31 March 2023 165 4613 1567 2,630 1.760 5.983 Cuftlvote Donce Servlces Emerqe EYSoundWoves Network Eymoklng & Bellevln EYMuslcStrutegy Jump stort Klckstart Llttle 819 Donce MyTunes SFS Our Turn Outthere2 Perfom7 Europe RIOTE3 The Rvrol Tourlnq Dance Inltlatlve2 The Rurnl Tourlno Dance Inltlt7tlve3 Rurltoge Word/PIoy 1150 49.242 118.183 6,QC 2.250 31954 111345 29,857 113,823 52.339 IIS,705 1.600 1245 1.409 L6GO 5,425 15.441 6,670 8,79S 8,900 6,157 7,500 5,580 6,212 896 10,614 8,055 9,541 14,670 7,$00 5,580 5,937 18,054 275 15,335 29,633 11,245 4,721 3¢349 13171 7,957 S,159 202,028 305,888 315,935 191981 Page 28
TAKE ART UMITED N¢les to the Flnandal Ststèmertts. ¢¢ntInl Forthe yèarended 31 March 2024 Aestrktr Funds- CtInued RURAL TOURING Thè RuralTourlnB scherne re50urce5 the dellvery of ht8huallty arts events In collaboratltsn wlth r¢Jral communStles In Somerset. RIOTE3 15 an Era5mus+ funded prolecL a follow up to RIOTE2 wbl¢h flnlshed In 2019, It Involve5 the same partners from Hun8ary, RomanSa and Slovenla wlth new theatrè companle5 as partners In France, Germany and Italy. The broad alm is around thlls ehange and traln5ng In partldpatory communlty theatre. RurSts8e Is a 38 European partner project Coknordlnatèd by the Urtlvèrslty of Bo108na and almln8 to promote good examples of rural re8eneratlon. Take Arvs rural tour5ng network Is one of the 'role models, to be studled and repllcated. Cultlvate, as part of Rurlts8e,15 a creative partnershlp that brings local food, arts & people together forthe beneflt of rural communltles and the natural envlronment In South 5omerset, arcus Around And About 2 ICAAA21 Is an Arts Councll England fur)ded project that15 devek¥pln8 a tourlng clrcus project In the south-west In rural and communlty urban settin8& SPARSE Plus Is a Creat1 Europ¢ fvndeé prolttt forwhkh Toke Artls Urbdertaklng an 4dvocacy, research and evaluatlon role. THEATRE PROJEcrs ctIvate Is a creatlve partnershlp that brltw local food, arts & people tether for the beneflt of rural communltles and the natural envtronment In South Somerset, Sol Stsryls an Inter8eneratIon, land.ba$ed prole¢t for 50¢1ally.tsoloted adults wlth adthtlonal need5 and home educated young peopl that uses arts and foodqelated actlvtty to transform our relatlon5hlp wlth soll, each other and our communitles. WordlPl•y Is z soclal prescrlblng proe¢t t8r8eted at peoplÈ èxptrlénclng mentsl111 heèlth andlor wltnèssid. learnlng dlsabllStes. It uses performance poetry to empower Indlvlduals, 8lvln8 them the freedom and encoura8ernentto tell thqlr 5torles and b• wltre55ed, BARN Is a collectlve theatre lrnltlatlve, facllitated byTake Art, that supports Somerset'5 emer8ent theatre-m3ng sector to develop tsst and showcase new work In a predomlnantly rural contsxL EARLY YÉARS PROJEcrs EY Soundwwes N•twork is a southwest regional nètwofklng project for muslcians workln8 wlth the early years and EY practltloners wantln8 to extend thelr rnuslc practlce, wlth three leaTnln8 communIe$ In Plymouth, Somerset and Brlstol. EY Makbng & BellÈvlng Is a perfomiance and partlclpatory project workln8 In Somerset and wth partnws DerbyTheatre and Surrey Arts. EY Mwlc Str•teyi E5 a plece of research undertaken byTake Art to support the developmentof EY Muslc In Somer5et. DANCE PROJECTS ErnerKe Is 8 dan¢e and envlronment prolect whlch Is currently In an R&D phase. Page 29
TAKE ART LIMITED Notes to the Flnanclal Statements. contlnued Fortheyear ended 31 March 2024 Restrlrted Funds- ¢0[lnUed Sprlng Fonvard Is the annual dance platfomi taklNd place In 3 profe551onal venue5 Involwn8 partlclpants of all ages from Somerset arnd SW- th15 was postporjed as a result of the Covld pandemlc. The Rural TourlnB Dance Inldatlve 2 & 3 are natlonal projects of wh5ch Take Art Is one of the four lead partners, the others bein8The National Rural Tourlng Forum, The Place, Htghltghts and Sonia Sabrt Dance Company. D*A¢• Sehvke Is a rangeof activltles that are small In nurnber and scalè and wlll Involve perfomance and workshop attivSty as well as a developlnB networkof dance artlsts at)d thelr professional development needs vla forum MeetIn and 1-2-1 advlce se551ons Lltde Bli Danee ILBDI 1$ 8 3 year dance ond early years prolectof whlch Take Art afft one of partners the other5 beln8 South East Dance Yofk5hlre Dance and Dance East. OwTurn15 a 3 year dance and dementla prolett supportlng people wlth memory10s5 and dementla by dellverlng weekly sesslonswlth health and wellbeln8 and falls preventlon focus. Jump St•rt Is a boys dance prolerttakln8 plxe In the Somerset West and Taunton area. MUSIC PROJECTS Outther•15 a 3 year muslc prolert worklng w(th Artlontrack to dellver muslc sesslon5wlth NEETS (Not In EmployrnenL Educatlon orTralnlnel or those èt rlsk of becomlng NEET, MyTunti SFS ITargeted Youth SupportlLooked After Chlldrenl1$ 8 partlclpatory musk prolect WOTklng wlth vulnerable 15 to 19 y8arold3 In Somerset and dellvered In partnershlp wlth Actlontrack Ptrformance company. Klckthrt Is a 6 month mentorlng prolectlor a youn8 person funded throu8h the 8ovefnment P•rfomi Europ• Is a rural tourln8 project across a number of European ¢ountrl•s to rural audlences Involvlng tw¢ comp8nles. one French and one Pollsh. Hatth Beau¢hamp Is 8 vlllage In Somerset for whl¢h we have madt prov151on to undenvrlte thelr showswlth a dotutlon made te Take Art. 10 Dblated FdI The Income fund5 Include the followln8 des18nated funds whkh hwe been set asSde cmjt of unrestrlcted funds by the trustees for speclflc PLtrposes. At l April New 2023 desl8natlons Released Translers At 31 March 2024 Redundar Illness Theatre Take Art My Tunes Rural Tourlng 43.192 4.950 3.500 14,500 6AQO 7XJOO 2A12 376 4S,604 5,326 3.500 8500 6.000 6,975 400 575 2500 79,542 3363 14,500 68,405 Page 30
TAKE ART LIMtrED Note5 tothe Flnandal Statsments- (wtlnued Forthe rended ai Marth 2024 10 DeslEnated Funds. prloryer At l Aprll New 2022 designotlons Releo5ed Tronsfrrs At31 March 2023 Redundonry Illness Theotre Toke Art My Tunes Rurul Tourlng Dunce 37,536 5,656 43.192 825 2,350 12.000 1,150 2500 3,500 I4,5 1.500 J,SCQ 71561 9,306 1325 79,542 10 Dnated Funth- ntInUed Redund•rKV relatss to rtatutory provlslon In the eventTake Art has to bè wound up ind 811 staff made redundant Illnei$ relate5 to 4 three IT perlod of avera8e staff salary In case we need to cover staff off111 for a perlod Th•4tr• relate$ to i sum of money earmarked for 4 theatre prolect T•k• Art relates to a projected one off pay Increase and replxement of computer equ5pment provlslon MyTunei relates to funds allocated to the project If and when current fundln8 ceases Rurnl TOUrt relates to addltlonal funds to support rural tourlng costs If and when current fundln81s reduced Dance relates to a sum of money earmarked for dance projects, 11 Othertharltlefvnds Fund balance at l Aprll 2Q23 105,843 Net Incomlng resources after transfers 4536 Fund balance at 31 March 2024 110,379 We have embarked on a tundralsln8 pro8ramme almln8to replace some ot the105t local 3Uthorlty lundln8 forTake Art. P8ge 31
TAKE ART LIMITED Notts lotht Flnandal StstèmÉt- £¢tInUed Forthe yearénded 31 Marth Z024 12 Analysls of NrfAssets 8•twwn Funds Unrestrlcted Restrfcted Fund5 Fund5 Total Funds Fund balances at 31 March 2024 are represented by- Current assets Current Ilabllltle5 213,231 34,320 168.955 382,186 34.320 178,911 168.955 347,866 12 An•lyJls oe NotAss•ts Betw¢•n Funds- prfor Yr Unrestrkted Restrkted Funds Funds rotol Funds Fundbolonces ot31 Morch 2023 tsre repre5entedby- Currentassets Currentllobllltles 239.302 53.917 191581 431,283 53,917 185,385 194981 377.366 13 Dlre¢torJniusteth Remuner•tbon •nd Expemei 2024 2023 DlrectoriTrustee remuneratlon Dlrectorifrustees expense5 14 Empl4ye The avera8è number, Intludlng part tlme employee¥ forthe ytarwas 1012023,. 111. The equlvalent full tlme number ofemployees was 712023.. 81. No employees earned £60,000 per annurn or mre. 2024 2023 TotsS reThinef•tlon Gross wage5 and 5alarles Natlonal Insurance contrlbutlons Employers penslon contrlbutlons 228,575 15,294 8,813 257,357 17,981 9,934 252,682 285,272 Outstandlng contrlbutSons to the pension Kheme at 31 March 2024 were nll12023- nlll. Page 32
TAKEART LIMITED Notes to the Flnan¢lal Ststements- contlnued For the year ended 31 Marth 2014 15 Penslon costs and other p)St retlrement beneffts The cornpanyoperate5 a deftned contrlbution penslon scheme. Contrlbutlons payable to the company's penslon scheme are charged to the Ststement of Flnanclal Acrlvltles In the perlod to whlch they relate. LhJrln8 the year penslon contributlons were £8,81312023- £9.8741. Penslon expenses are allocated btheen actlvltles and beeen restrlcted and unrestrlcted funds based on whether the member of staffs salary Is core-funded or project funded. 16 Related P4rtyTr4nsaciian$ During the year, the follow¢ng employee5 were 8150 pald for thelr artlstlc 8nd productlon seNlces as self empkyed contrartors, 2024 2023 N Grlfflths 13 17 GOI CoKem The flnanclal statements have been prepared on a goln8 concern b8515. The tru5tee5 belleve thatthere are no rnat•rlal uncertalntles surrondlng the charlty's ablIV to contlnue on a goln8 concern ba51s, 18 C¢xnmlimonts Und•1 OP•ratI L•asii 2024 2023 Lease payments reco8nlsed as an expense 9,646 Annual commltment5 under non-cancellable ¢per8tln8 At the balance sheet dare were as follows.. Land and 8ulldlngs Land and Bulldln8S 2024 IJ OperatTng leases whfch explre.. wlthln one year 9,646 9,646 9.646 9,646 wlthln onè year 9,646 9,646 9.646 Pa8e 33