2025-03-31-accounts

Charity registration number SC002848 (Scotland)

Company registration number SC123773 (Scotland)

FIREFLY ARTS LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FIREFLY ARTS LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Charity number (Scotland)

$C002848

Company number

$C123773

Independent examiner

McFadden Associates Limited 19 Rutland Square Edinburgh EH1 2BB

FIREFLY ARTS LIMITED

CONTENTS

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Page
Trustees’ report 1-3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7-16
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FIREFLY ARTS LIMITED TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2025 ——————sssSS ss...

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

Originally founded as West Lothian Youth Theatre, Firefly Arts is a Scottish Charity with a long history of providing youth theatre, film-making, creative writing, music, dance and visual arts activity for children and young people aged 5 to 25 years across West Lothian.

Firefly's workshop, school, community and training programmes provide young people with a safe, supportive environment to explore their world, challenge themselves, build creative and resilient futures. We specialise in developing transformative and inclusive arts experience for young people who are socially and economically marginalised, and all Firefly activity is underpinned by the following five key principles:

1. Creativity: Firefly are committed to generating fun, creative and life-transforming arts experience for all.

2. Young People: While many Firefly projects run in successful partnership with adult groups, our core purpose is to transform and enrich young lives.

3. Place: Firefly programmes are rooted in West Lothian, with commitment to, and in partnerships with, our local communities.

4. Partnership: Firefly’s strategic and community partners play a key role in our capacity to engage effectively with hard-to-reach groups, new participants and the wider community.

5. Equality: Firefly activity is committed to addressing social, economic and cultural inequality.

Achievements and performance

The cost-of-living crisis has continued to place pressure on young people, families, and the youth arts sector across Scotland, with many organisations struggling to sustain services. Despite these ongoing challenges, the charity has continued to provide high-quality, inclusive arts opportunities across West Lothian, with a particular focus on supporting those most at risk of social exclusion.

In July 2024, following a period of interim leadership, the charity appointed Electra McPhillips as CEO, marking a new chapter in its development. Drawing on more than 20 years of experience in the performing arts sector, Electra has focused on building organisational resilience, embedding a culture of collaboration, and strengthening partnerships with local agencies and community groups.

Key achievements this year include:

• » Securing multi-year funding status from Creative Scotland for 2025-2028, making Firefly Arts the first ever organisation from West Lothian to receive this accolade. This recognition not only affirms the quality and impact of our work but also provides a stronger platform for long-term sustainability and growth.

• • Expanding our employability and skills-based projects for young people, helping to bridge the growing gap in access to education and training opportunities.
• • Deepening partnerships with Play Works, New Directions, and Knightsridge Adventure Project SCIO, ensuring joined-up provision for young people facing multiple barriers.

• » Strengthening our commitment to inclusion - a distinctive strength that shapes our practice and leadership model.

• • Continuing to deliver our ROOTS partnership, which remainsa vital creative space for young people to connect, express themselves, and develop confidence.

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FIREFLY ARTS LIMITED TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 i eee

The refreshed strategic direction set in 2024/25 lays the groundwork for long-term sustainability, combining a strong social purpose with a developing social enterprise approach to income generation. The organisation remains recognised for delivering artistic provision of the highest quality within a nurturing and welcoming environment open to everyone.

Highlights of 2024/25

• • Community-Based Workshops: Delivered an extensive programme of workshops across West Lothian, engaging children, young people, and families in inclusive and creative activity that supported confidence, wellbeing, and self-expression.

• « School Partnerships: Continued to work with primary and secondary schools across West Lothian, embedding arts-based learning and offering creative opportunities within the school day.

• • National Festival of Youth Theatre: Participated in the National Festival of Youth Theatre in July 2024, where Firefly’s young company performed an original devised piece, showcasing their creativity on a national stage.
• • ROOTS Programme: Sustained weekly sessions through the ROOTS programme, offering a safe and inclusive creative space for young people, particularly those who are neurodiverse or facing barriers to participation.

• » Winter Production of Oh Dear, Oh Snow. Presented a new winter production at Howden Park Centre from 6-8 December 2024. The show ran for five performances, all warmly received by audiences and demonstrating the talent and commitment of Firefly’s young performers.

• » Employability and Skills Projects: Expanded skills-based workshops linked to employability, offering young people opportunities to develop confidence, leadership, and transferable skills that support future education, training, and work pathways.

• • Partnership Working: Strengthened local collaborations with Play Works, New Directions, and Knightsridge Adventure Project SCIO, ensuring joined-up provision for young people. Nationally, Firefly continued to contribute to sector-wide conversations around inclusion, neurodiversity, and youth arts access.

Throughout 2024/25, Firefty built on its strong regional presence and reputation, remaining strategically positioned to support children and young people during times of increasing need. Our programmes continued to be accessible, impactful, and rooted in creativity, inclusion, and community.

Financial review

Firefly completed the financial year with a fund balance of £124,650, made up of £69,646 in restricted funds, and £55,004 in unrestricted funds.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Risk Management

Firefly trustees regularly review major risks to which the charity is exposed and are satisfied that systems have been established to mitigate those risks. The principal risks and uncertainties facing the charity relate to future funding, and this is managed by preparation of budgets and regular review by the Directors.

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FIREFLY ARTS LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management Govemance Firefly Arts Limited is a charitable company limited by guarantee. Formerly known as West Lothian Youth Theatre was incorporated on 15 March 1990. The Company was established under a Memorandum of Association which established the objects and the powers of the charitable company and is governed under its Articles of Association. These documents were updated in line with legislation and best practice with the change of company name. Firefly Arts Ltd is registered with the office of the Scottish Charity Regulator (OSCR). The company is governed by a Board of Directors, who meet 6 times a year, this year consisting of ten members plus an observer from our major funder, West Lothian Council.

Recruitment and retention of Board Members is planned to secure a range of skills amongst the Board of Directors to ensure the aims and objectives of Firefly are well informed and fulfilled. All Board Members are encouraged to become familiar with the practical work of the charity and supported to attend Board development training sessions offered by extemal providers.

None of the Directors has any beneficial interest in the company. Alll of the Directors are members of the company and guarantee to contribute £1 in the event of a winding up.

On behalf of the Board of Directors

Trustee

Dated: 30 September 2025

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FIREFLY ARTS LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FIREFLY ARTS LIMITED

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| report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages 5 to 16.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, and they consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1)(c) of the Act and to state whether particular matters have come to our attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the Statement of Standards for Reporting Accountants and Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records, It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently | do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

• In connection with my examination, no matter has come to my attention:

• (a) which gives me reasonable cause to believe that in any material respect the requirements: (i) to keep accounting records in accordance with section 44 (1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

• (i) to prepare accounts which accord with the accounting records and comply with the accounting requirements of Regulation 8 of the 2006 Accounts Regulations and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;

have not been met; or

• (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Dated: 30 September 2025

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FIREFLY ARTS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025

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		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds 2025	funds 2025	2025	funds 2024	funds 2024	2024
	Notes	£	£	£	£	£	£
Income from:
Donations and core funding Charitable activities Investments	3 4 5	42,676 54,187 3,231	80,123 - -	122,799 54,187 3,231	43,293 40,038 4,678	76,407 - -	119,700 40,038 4,678
Totalincome		100,094	80,123	180,217	88,009	76,407	164,416
Expenditure on: Charitable activities	6	198,252	82,448	280,700	123,540	136,094	259,634
Gross transfers between
funds		-	-	-	(3,763)	3,763	-
Netexpenditure fortheyear/ Netmovement infunds		(98,158)	(2,325)	(100,483)	(39,294)	(55,924)	(95,218)
Fund balances at 1 April 2024		153,162	71,971	225,133	192,456	127,895	320,351
Fund balances at31 March2025		55,004	69,646	124,650	153,162	71,971	225,133

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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FIREFLY ARTS LIMITED

BALANCE SHEET AS AT 31 MARCH 2025

		2025		2024
	Notes	£	£	£	£
Fixed assets
Tangibleassets	12		1,865		507
Currentassets
Debtors Cash atbankand inhand	13	6,622 140,007		18,922 235,653
		146,629		254,575
Creditors: amounts falling duewithin oneyear	14	(23,844)		(29,949)
Netcurrentassets			122,785		224,626
Totalassets less currentliabilities			124,650		225,133
Income funds
Restricted funds	16		69,646		71,971
Unrestrictedfunds Designated funds	15	-		70,726
General unrestricted funds		55,004		82,436
			55,004		153,162
			124,650		225,133

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 March 2025.

The directors acknowledge their 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 30 September 2025

Trustee

Company Registration No. SC123773

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

• 1 Accounting policies

Charity information

_ Arts Limited is a “—= limited by guarantee incorporated in Scotland. The registered office is

• 1.4 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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 concem basis of accounting in preparing the financial statements.

• 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 underGift 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.

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

eeeee ee 1 Accounting policies (Continued)

1.5 Expenditure Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activity expenditure includes all expenditure directly incurred in furthering the objectives of the charity. Governance costs consists of the costs of financial services, accounts preparation, mandatory legal and professional fees, and any other expenditure incurred in compliance with legal requirements of the charity.

1.6 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:

Website	33.33% straight line
Plantand machinery	25% straight line
Fixtures, fittings&equipment	25% straight line
Computers	33.33%straightline

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.

• 1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible 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).

1.8 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.

1.9 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.

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

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.

1.10 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.

1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Taxation

The company has charitable status and is exempt from taxation. The company is not registered for VAT and accordingly any irrecoverable VAT is included in the expenditure concerned.

1.13 Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the directors.

Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Unrestricted designated funds are funds which have been placed in reserves by the directors to meet future anticipated costs of the relocation of the registered office.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 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

_— Income fromIncome fromfrom donations and legaciesand legacies	donations and legaciesand legacieslegacies
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds 2025	funds 2025	2025	funds 2024	funds 2024	2024
	£	£	£	£	£	£
Donations and gifts Core Grants	952 41,724	- 80,123	952 121,847	67 43,226	- 76,407	67 119,633
	42,676	80,123	122,799	43,293	76,407	119,700
Income from charitable activities
				Unrestricted		Unrestricted
					funds	funds
					2025	2024
					£	£
Workshops andActivityweeks	weeks
Sales					54,187	40,038
Investments				Unrestricted		Unrestricted
					funds	funds
					2025	2024
					£	£
Interestreceivable					3,231	4,678

4 Income from charitable activities

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Expenditure on charitable activities

	Youth Theate Company	Youth Theate Company
	2025	2024
	£	£
Direct costs
Staffcosts	128,914	116,061
Depreciation andimpairment	526	1,000
Rentand venue hire	3,834	4,997
Travel costs	4,685	4,093
Materials Freelancers Publicityand Marketing	17,373 82,236 454	7,005 80,382 497
Other projectcosts	9,521	17,027
	247,543	231,062
Share ofsupportand governance costs (see note 7)
Support	24,444	26,377
Governance	8,713	2,195
	280,700	259,634
Analysis byfund
Unrestricted funds	198,252	123,540
Restrictedfunds	82,448	136,094
	280,700	259,634

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7	Supportcosts
		Support	Governance	2025Support costs		Governance	2024
		costs	costs			costs
		£	£	£	£	£	£
	Rent	6,996	-	6,996	14,766	-	14,766
	Insurance	1,987	-	1,987	1,197	-	1,197
	Repairs	3,597	.	3,597	971	-	971
	Postageandstationery	2,405	-	2,405	2,208	-	2,208
	Telephone Sundries Subscriptions	705 1,652 1,921	. - -	705 1,652 4,921	713 773 805	- . -	713 773 805
	Bankcharges	415	-	415	288	-	288
	Bookkeeper	4,766	-	4,766	4,656	-	4,656
	Accountancy Legalandprofessional	- -	1,203 7,510	1,203 7,510	- -	1,110 1,085	1,110 1,085
		24,444	8,713	33,157	26,377	2,195	28,572
	Analysed between
	Charitableactivities	24,444	8,713	33,157	26,377	2,195	28,572

8 Trustees

During the year no trustees received remuneration in respect of consultancy services (2024 - Enil). These transactions were at arms length and on normal commercial terms. None of the other trustees (or any persons connected with them) received any remuneration during the year.

9 Employees

Number of employees

The average monthly number of employees during the year was:

	2025	2024
	Number	Number
Direct	3	3
Administration	3	2
	6	5
Employmentcosts	2025	2024
	£	£
Wagesandsalaries	119,505	108,819
Social securitycosts	5,243	3,936
Otherpensioncosts	4,166	3,306
	128,914	116,061

There were no employees whose annual remuneration was £60,000 or more.

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

1. Key management personnel

The key management personnel of the charity, comprise the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £32,242 (2024: £13,090). For part of the year the Chief Executive position was outsourced and fees for this role were £8,000 (2024: £11,780).

12	‘Tangible fixed assets
		Website	Plant and machinery	Fixtures, fittings&	Computers	Total
				equipment
		£	£	£	£	£
	Cost
	At 1 April2024 Additions	2,000 -	13,427 -	2,109 -	2,129 1,884	19,665 1,884
	At31 March 2025	2,000	13,427	2,109	4,013	21,549
	Depreciation and impairment
	At 1 April2024 Depreciation charged intheyear	2,000 -	12,920 290	2,109 -	2,129 236	19,158 526
	At31 March2025	2,000	13,210	2,109	2,365	19,684
	Carrying amount
	At31 March2025	-	217	-	1,648	1,865
	At31 March2024	-	507	-	-	507
13	Debtors
					2025	2024
	Amounts falling duewithinoneyear:				£	£
	Tradedebtors				4,349	10,713
	Otherdebtors				-	4,866
	Prepaymentsandaccruedincome				2,273	3,343
					6,622	18,922

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14 Creditors: amounts failing due within one year

Creditors: amounts failingfailing due within one yearwithin one yearone yearyear
	2025	2024
	£	£
Othertaxation and socialsecurity	2,257	1,745
Trade creditors	4,196	9,861
Othercreditors	898	4,092
Accruals and deferred income	16,493	14,251
	23,844	29,949

15 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.

	At1April	incoming	Resources	Transfers	At31March
	2024	resources	expended		2025
	£	£	£	£	£
Unrestricted funds Continuityfund	82,436 70,726	100,094 -	(190,972) (7,280)	63,446 (63,446)	55,004 -
	153,162	100,094	(198,252)	=	55,004
Previous year:	At 1 April	Incoming	Resources	Transfers	At31 March
	2023	resources	expended		2024
	£	£	£	£	£
Unrestrictedfunds	99,602	88,009	(105,175)	-	82,436
Continuityfund	92,854	-	(18,365)	(3,763)	70,726
	192,456	88,009	(123,540)	(3,763)	153,162

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FIREFLY ARTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Analysis of net assets between funds

	Unrestricted	Restricted	Total
	funds	funds
	2025	2025	2025
	£	£	£
Fund balances at31 March 2025 are represented by:
Tangibleassets	1,865	-	1,865
Current assets/(liabilities)	53,139	69,646	122,785
	55,004	69,646	124,650
	Unrestricted	Restricted	Total
	funds	funds
	2024	2024	2024
	£	£	£
Fund balances at31 March 2024 are represented by:
Tangibleassets	507	-	507
Current assets/(liabilities)	152,655	71,971	224,626
	153,162	71,971	225,133

18 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

-16-

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