Charity registration number 802708
THE NIMBUS FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE NIMBUS FOUNDATION
CONTENTS
Page
Trustees report
Independent examine¢s report
statement of finanual activities
Balance sheet
Notes to the financial statements
8-17

THE NIMBUS FOUNDATION
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies sel out in nole 1 to the
financial statements and compty with the charity's goveming document, the Charities Act 2011 and "Accounting
and Reporting by Charities= Statement of Recommended Practi￿ applicable to charities preparing their accounts
in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)
(effective 1 January 2019)"
Objectives and activities
To progres5 the ongoing conversation with the Trustees of Lyrita Nimbus Arts {Regi51ered Charity No. 1203867)
to find a like-minded partner or Charity willing to take on the assets, liabilities and responsibilities of The Nimbus
Foundation allowing its founders to relire in good faith.
To promote the use of the Foundation's venue: a 550-seat concert hall in Monmouth. To make the venue
available for local groups including schools. music clubs and arts societies and charitable organisations. To
encourage national and international recording and broadcasting organisatr'ons to use the venue independenuy.
To maintain and to preserve the integrity of The Wastone Studio and Concerl Hall and to manage future
additions to the facility so as to provide the best experien￿ for both perfomiers and audience members. The
trustees confirm Ihal they have referred to the Charity Commission's guidan￿ on public benefit when reviewing
the Trust'5 aims and objectives in planning future activities.
Achievements and perfomiance
Over the pasl 15 years we have SU￿ss[u11Y buill on the reputation of the Wyastone Concert Hall as one of the
UK'S finest performance venues and attract regular occupation from national and intemational recording
organisalions. The Concert Hall is made available to these organisations on a third-party basis subject to a daily
rate.
Significant time was invesled Ihis year in concluding negotiations to gtft Ihe assels. liabilities and responsibilities
of The Nimbus Foundation to the Trustees of Lyrita Recorded Edition Trust. We are delighted that they elected to
change Iheir charily's name to Lyrita Nimbus Arts (Registered UK Charity 1203867), reflecting the interests and
aspirations of the founders of The Nimbu5 Foundation.
Financial review
The Trustees have confirmed a continualion of the present investment policy and fvnd manager. The trustees
recognise that the Foundation's principal source of income is from investments and that to enable the Foundation
to manage its current obligations the Iruslees have set a minimum value of investments intended to provide for
the continued maintenance of the concert hall. 11 was agreed that the investment portfolio would be liquidated to
cash in February 2024 and gifted to Lyrita Nimbus Arts unincumbered and with no restrictions at that time.
The charity has made an unreslricted deficit of £31.91412023'. deficit of £81,435) after gains on investments of
£6,374 12023.. losses of £24,309) for the year ended 31 March 2024. Exduding the investmenl movement, a
deficit of £38,28812023.' deficit of £57,126) was made.
Investment Policy
Under the trust deed of 24 November 1987. the charity has the power to invest in a way the trustees wish.
Reserves Policy
The trustees recognise that the Foundation's principal Sour￿ of income is from investments and that to enable
the Foundation lo manage its current obligations Ihe trustees have set the minimum value of those investmenls
at £250,000. The trustees believe that this policy remains appropriate as a resource primarily intended to provide
for the continued mainlenance of the cOn￿rt hall. This information has been passed to the Truslees of Lyrila
Nimbus Arts fortheir understanding.

THE NIMBUS FOUNDATION
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
As a parl of the agreed plan to gift TNF to the newly fomied Lyrita Nimbus Arts, Registered Charity Number..
1203867, a new valuation ofthe studio I cOn￿rt Hall was undertaken in the prior year.
As al 31 March 2024 Ihe charity had unreslricted reserves totalling of £637.606 {2023'. £669.520) of which of
they have free reserves totalling £313,24412023'. £337,109)-
Risk management
The Iruslees have given consideration to the potential risks, this relates to the variable nature of third-paty hire
days in Ihe concert hall. Bookings are spread across a wide variety of clients and generally extend up to 24
months in advance.
In order to address the issue a business plan has been created which has established that the charitable
activities being developed can be safely supported. A key element in the management of financial risk is the
setting of a reserves policy and its regular review by trustees. Other. non-financial risks such as fire, health and
safety management of performing rights have also been addressed.
Plans for the future
The trustees are fully satisfied that this is the right time to gift The Nimbus Foundation ITNFI to Lyrita Nimbus
Arts (Registered UK Charity 1203867), a likeminded charity and group of Trustees who are more active in
promoting and recording classical music and who can deliver a wider programme of educational activities to
young people, new audiences and industry professionals. It is expected that TNF will gift itself lo Lyrits Nimbus
Arts with effect from 1 April 2024.
Structure. governance and management
The Nimbus Foundalion is an unincorporaled charitable trust govemed by a Irusl deed of 24 November 1987. It
is a registered charity with the Charity Commission. The power of appointing new trustees is vested in the
surviving trustees in office. The currenl Iruslee group, which includes the individuals responsible for the initial
funding of the foundation, seek to make new appointments that will ensure an independent, balanced and
objective view of the Foundation's activities.
All trustees have willingly agreed to resign from The Nimbus Foundation upon successful handover of the assets,
liabililies and ongoing operation of Ihe Sludio I Concert Hall to the Trustees of Lyrita Nimbus Arts {Regislered UK
Charity 1203867).
Related Parties
Wyastone Estate Limited is an independent private￿ owned company operating a Business Park, Printing. CD
Manufacluring and Dislribution business from the private estale on which the Foundation's concert hall is
located. The company has a written agreement with the Foundation to suppty all adrninistrative function5 relating
to the concert hall and the provision of the facility to third parties for both charitable events and commercial hire.
The Company and the Foundalion currenuy have one directorltrustee in common.
Adrian Farmer, a Trustee and Director of Wastone Estate Limited, and Antony Smith, a Director of Wastone
Estate Limited, are also Trustees of the Lyrita Recorded Edition Trust (Registered UK Charity 2996351 and the
newly fomied Lyrita Nimbus Arts (Registered UK Charity 1203867).
Oryanisation
The board of Iruslees, which is required to be not less than Ihree and not more than 10 members, administers
the charity. The board meets half-yeady and makes all decisions by a majority vote of the trustees present. The
foundation has no staff members and has entered into a service level agreement with Wastone Estate Limited
to provide all management and support for The Nimbus Foundation's day lo day operations, as aulhorised by the
board, based on a percentage of hall hire revenue with fixed-fees for accounting and maintenance.

THE NIMBUS FOUNDATION
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Reference and administrative infomiation
Trustees
Michael Austyn Reynolds
Gerald Alfred John Reynolds
Adrian John Famier
Paul William Boughton
Principal Office
Wyaslone Leys
Ganarew
Monmouth
Monmoulhshire,
NP25 3SR
Charity Number: 802708
Independenl examiner
Katherine Parkin FCA
ets Audit Services
Ty Derw
Lime Tree Court
Cardiff Gale Business Park
Cardiff
CF23 8AB
Bankers
Lloyds Bank
25 Gresham Street
London
EC2V 7HN
Solicitors
Geldards
4 Capital Quarter
Tyndall Slreet
Cardiff
CF10 4BZ
Fund manager
Saltus
Spaces Castle Park Programme Building
The Pithay
Bristol
BS1 2NB

THE NIMBUS FOUNDATION
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees report was approved by the Board of Trustees.
G Reynolds
Truslee
A J Farnier
Trustee
Dated.. 31 January 2025
Dated: 31 January 2025

THE NIMBUS FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE NIMBUS FOUNDATION
I report to the trustees on my examination of the financial statements of The Nimbus Foundation (the charity)
for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance
with the requiremenls of the Charilies Acl 2011 (the 2011 Act).
I report in respect of my examination of the charity's financial stalements carried out under seclion 145 of the
2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(51{b) of the 2011 Act.
Independent examinerfs statement
Your attenlion is drawn to the fact that the charity has prepared financial statements in accordance with
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting
Slandard applicable in the UK and Republic of Ireland IFRS 102) in preference to Ihe Accounting and
Reporting by Charities.. Statement of Recommended Practi￿ issued on 1 April 2005 which is referred to in the
extant regulations but has now been withdrawn.
l understand that this has been done in order for financial statements to provide a true and fair view in
accordan￿ with Generally Accepted Accounting Practice effective for reporting periods beginning on or afler 1
January 2015.
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-
accounling records were not kepl in respecl of Ihe chartty as required by section 130 of the 2011 Act., or
the financial statements do not accord with those records.. or
the financial statements do not comply with the applicable requirements conceming the form and content
of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a true and fair view which is not a matter considered as part of an independent
examination.
I have no concems and have come across no other matters in connection with Ihe examinalion to which
attention should be drawn in this report in order to enable a proper understanding of the financial statements to
be reached.
Katherine Parkin FCA
Azets Audit servI￿s
Ty Derw
Lime Tree Court
Cardiff Gate Business Park
Cardiff
CF23 8AB
Dated.. 31 January 2025

THE NIMBUS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Unrestricted
funds
funds
2024
2023
Notes
Income from:
Charitable activities
Inveslments
39,818
4,989
49,405
4,760
Tolal income
44,807
54,165
Ex
endilure on:
Raising funds
4,534
5,217
Charitable activities
78,561
106,074
Total resources expended
83,095
111,291
Net gainslllosses) on investments
10
6,374
124,309)
Net outgoing resources
131,9141
181,435)
Other recognised gains and losses
Revaluation of tangible fixed assets
{203,227) {203,227)
Net movement in funds
{235,141) {284,662)
Fund balances at 1 April 2023
872,747
954,182
Fund balances at 31 March 2024
637,606
669,520
The slatement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from conlinuing activities.

THE NIMBUS FOUNDATION
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investments
12
13
324,362
332,411
380,044
324,362
712,455
Current assets
Debtors
Cash at bank and in hand
14
16.914
356.343
13,843
28,994
373.257
42.837
Creditors: amounts falling due within
one year
15
(60.013)
{85,772}
Net current assetsl{liabiltties)
313.244
142,935)
Tolal assets less current liabilities
637,606
669,520
Income funds
Unrestricted funds
Designated funds
General unrestricted funds
Revaluation resetve
16
324.362
516,471
1203.227)
332,411
540,336
1203,227}
637,606
669,520
637,606
669,520
The financial statements were approved by the Trustees on 31 January 2025
G Reynolds - Trustee
A J Farnier- Trustee

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity infonnation
The Nimbus Foundation is a is an unincorporated charitable trust whose goveming document is a Trust deed
dated 24 November 1987. The prinupal address of the charity is Wastone Leys, Ganarew, Monmouth, NP25
3SR.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's goveming document, the
Charilies Acl 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity is a Public
Benefit Entity as defined by FRS 102.
The charity has laken advantage of the provisions in the SORP for smaller charities not lo prepare a
Statement of Cash Flows.
The financial slatements have departed from Ihe Charilies (Accounts and Reports) Regulations 2008 only to
the extent required to provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Slatement of
Recommended Practice which is referred to in the Regulations but which has Sin￿ been withdrawn.
The financial statements are prepared in sterling, vthich is the functional cU￿encY 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, modified to include the
revaluation of freehold properties and to include investment properties and certain financial inslrumenls at fair
value. The principal accounting policies adopted are set out below.
1.2 Going concern
The charity ceased trading on 31 March 2024 and transferred its activities, assets and liabilitiles to a newly
fomied Charitable Incorporated Organisation Lyrita Nimbus Arts (charity number 1203867) on 1 April 2024.
As such the financial statements have been prepared on a basis other than that of a going concem which
includes. where appropriate, writing down the chanty's assets to net realisable value. The financial statements
do not include any provision for the future costs of temiinating the activities of the charity except to the extent
that such cosls were committed at the balance sheet date.
1.3 Charitable funds
Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives unless the funds have been designated for other purposes.
Designated funds are funds which the charity has identtfied to be used for a specific purpose but which are
not legalty restricted to use.
1.4 Income
All income is recognised once the charity has entitlement to the income. it is probable that the income will be
received and the amount of income re￿1vable can be measured reliably.
Interest on fiJnds held on deposit is included when receivable and the amount can be measured reliably by the
charity,. Ihis is nomially upon nolification of the interest paid or payable by the bank. Dividends are recognised
On￿ the dividend has been dedared and notification has been received of the dividend due. This is normally
upon notification by our investment advisor of the dividend yield of the investment portlolio.

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless perfomiance conditions require deferral of the amounl. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Hall hire is recognised in the period in which the hire takes place. Any amounts invoiced in advance are
deferred.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third paty, it
is probable that settlement will be required and the amount of the obligation can be measured reliably.
Costs of raising fijnds comprise the costs in relation investment management costs.
Expenditure on charitable activities includes all costs relating to the furtherance of the charity's objectives as
stated in the trustees report and their associated support costs.
Irrecoverable VAT is charged as a cost against the activty for which the expenditure was incurred.
Govemance costs comprise all costs involving public accountsbilty of the charity and its compliance with
regulation and good practi￿.
Resources expended are allocated to the particular activty where the cost relates directly to that activity.
There has been no offsetting of assets and liabilities. or income and expenses.
1.6 Tangible fixed assets
Tangible fixed assets are initialty measured at cost and subsequently measured at cost or valuation, nel of
depreciation and any impaimient losses.
Deprecialion 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..
Arts centre
Fixtures and fittings
20/0 Straight line basis
10 % straight line basis
Properties whose fair value can be measured reliably are held under the revaluation model and are carried at
a revalued amount, being their fair value al the date of valuation less any subsequenl accumulated
depreciation and subsequent accumulated impairnent losses. The fair value of the land and buildings is
usualty considered lo be their market value.
Revaluation gains and losses are recognised in other recognised gains and losses and accumulated in equity,
ex￿p1 lo Ihe extent Ihal a revalualion gain reverses a revaluation loss previously recognised in net incomel
(expenditure} or a revaluation loss exceeds the accumulated revaluation gains recognised in equity,. such
gains and loss are recognised in net incomel{expenditure) for Ihe year.
1.7 Fixed asset investments
Fixed asset inveslments are initialty measured al Iransaclion price excluding transaclion cosls, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Cash and cash equivalents
Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-temi liquid
inveslments with original malurilies of Ihree months or less, and bank overdrafts. Bank overdrafts are shown
within bO￿owingS in Current liabilities.

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls. and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of tls financial instruments.
Financial instruments are recognised in the charity's balan￿ sheet when the charity becomes party io 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 re￿gnised amounts and there is an inlention to settle on a net
basis or lo realise the assel and settle the liability simullaneously.
Basic financial assets
Basic financial assets, which indude debtors and cash and bank balances, are initially measured at
transaction price including Iransaction costs and are subsequentty carried al 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 fijture receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Derecognition of financial assets
Financial assets are derecognised onty when the contractual rights to the cash flows from the asset expire or
are settled, or when the charity transfers the finanaal asset and substantially all Ihe risks and rewards of
ownership to another entty, or rf some significant risks and rewards of ownership are retained but control of
the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are inttially recognised al transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of Ihe future payments discounted al a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequentty carried at amortised cost. using the effective interest rate method.
Trade creditors are obligations to pay for goods or services Ihat have been acquired in Ihe ordinary course of
operations from suppliers. Amounts payable are dassified 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 subsequentty measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the chartvs contractual obligations expire or are discharged or
cancelled.
Critical accounling estimates and judgements
In the application of the charity's accounting policies. the trustees are required to make judgements, estimates
and assumptions aboul Ihe carrying amount of assets and liabiltlies that are nol readily apparent from olher
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered lo be relevant. Actual results may differ from these estimates.
The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimates are recognised in the period in which the estimate is revised where Ihe revision affects only thal
period, or in the period of the revision and fijture periods where the revision affects both current and future
periods.
10-

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
2024
2023
Hall hire
39,818
49,405
Investments
Unrestricted Unrestricted
funds
funds
2024
2023
Income from listed investments
Interest receivable
4,581
408
4,572
188
4,989
4,760
11

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Costs of raising funds
Investmenl management costs
4,534
5.217
4,534
5,217
Charitable activities
2024
2023
Depreciation and impaiment
Other concert costs
Insurance
Light and heat
Rent, rates and water
Repairs and maintenance
stationery and advertising
Donations
8,050
8,134
5,438
29,242
2,375
11,232
2,000
2,319
27,635
11,594
4,569
16,681
3,181
7,128
3,696
20,440
68,790
94,924
Share of support costs (see note 71
Share ofgovemance costs (see nole 7)
6,146
3,625
8,150
3.000
78,561
106,074
12-

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support Costs
Support Govemance
costs
costs
2024
2023 Basis of allocation
Bank charges
Administration
23
6,123
23
6,123
15 Direct
8,135 Direct
Accountancy fees
3.625
3,625
3,000 Governance
6.146
3.625
9,771
11,150
Anatysed be￿een
Charitable activities
6.146
3.625
9,771
11.150
Accountancy fees above include payments to the independent examiners of
£1,92512023.' £1,475).
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year. The Iruslees were not reimbursed for any expenses during the currenl or prior year.
Employees
The average monthly number of employees during the yearwas..
2024
Number
2023
Number
Total
There were no employees whose annual remuneration was more than £60,000.
10 Net gainsl{losses) on inveslments
Unrestricted Unrestricted
funds
funds
2024
2023
Revaluation of investments
Gainl(lossl on sale of investments
{26,275)
1,966
6,374
6,374
{24,309)
13-

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Taxation
The charity is exempt from tax on income and gains tslling wf(hin section 505 of Ihe Taxes Acl 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the exient that these are applied to its charitable objects.
12 Tangible fixed assets
Arts cèntr• Fixturès and
fittings
Total
Cost or valuation
At 1 April 2023
325,000
294,327
619,327
At 31 March 2024
325,000
294,327
619.327
Depreciation and impairnient
At 1 April 2023
Depreciation charged in the year
286,915
1.550
286,915
8,050
6.500
At 31 March 2024
6.500
288.465
294,965
Carrying amount
Al 31 March 2024
318,500
5,862
324,362
At 31 March 2023
325,000
7,411
332,411
Land and buildings with a carrying amount of £325,￿)0 were revalued at 8 February 2023 by Lamberts
Chartered Surveyors, independent valuers not connected wrth the charity on the basis of market value. The
valualion confomis to Intemalional Valuation Standards and was based on recent market transactions on
arm's length terms for similar properties.
At 31 March 2024, had the revalued assets been carried at hisloric cosl less accumulated depreciation and
accumulaled impairment losses, their carying amount would have been approximately £502,142 (2023..
£528,227).
14-

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Fixed asset investments
Other
inveslments
Cash in
portfolio
Total
Cost or valuation
At 1 April 2023
Disposals
371.674
(371,674)
8,370
{8,370)
380,044
{380,044)
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
371.674
8,370
380,044
14 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
14,391
103
2,420
10,395
3,448
16,914
13,843
15 Creditors: amounts falling due within one year
2024
2023
Other taxation and social security
Trade credilors
Amounts owed to related parties
Accruals
723
3,515
77,823
3,711
2,702
53,836
3,475
60,013
85,772
15-

THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of
unrestricted funds by the trustees for specffic purposes=
Balance at
1 April 2022
Resources Revaluatlons.
0x￿nd
gains and
lossès
Balance at
1 April 2023
Resources
Balance at
0X￿nd&d 31 Ilarch 2024
Fixed asset fund
563,273
(27,635) (203,227)
332,411
(8,049)
324,362
563,273
(27,635) (203,227)
332,411
(8,049)
324,362
In order to fulfil its objectives the charity needs the ￿ntre and other assets. These properties. although they
are unrestricted assets cannot be realised without undemiining the charity's work, and the trustees feel that it
is therefore appropriale to reflecl the investment in fixed assets by means of a designated fund.
17 Analysis of net assets between funds
Unrestricted Designated
funds
funds
2024
2024
Total Unrestricted Designated
funds
funds
2023
2023
Total
2024
2023
Fund balan￿S at 31
March 2024 are
represented by..
Tangible assets
Investmenls
Current assetsllliabilities}
324,362
324.362
332,411
332,411
380,044
{42,935)
380.044
{42,935)
313,244
313.244
313,244
324,362
637.606
337,109
332,411
669,520
18 Events after the reporting date
The activities, assets and liabilities of the charity were gifled to Lyrita Nimbus Arts (charity number 1203867)
with effect from 1 April 2024.
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THE NIMBUS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Related party transactions
Transactions with related parties
During the year the charity entered into the foll0￿llng transactions with related parties=
The charity invoiced Wyastone Estate Limited £1.638 for hall hire (2023= £1.125).
The charity was invoiced £55,592 (2023.. £59,230) from Wyastone Estate Limiled regarding Se￿l¢e charges
and a contribution towards a donation.
At the year end the charity owed £53.83612023.' £77.823) lo ￿aSIone Estate Limtled
aslone Estste Limited and the charity have one directornrustee in common.
The charity invoiced The Lyrita Recorded Edition Trust £2,208 ft)r hall hire (2023.. £6,384) of which £680
(2023.. £nil) was outstanding al the year end.
The Lyrila Recorded Edition Trust and the charity have one trustee in common.
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