96 Company Reg no= 6166882 Regfistw￿ Charlty nos: 1120152 &SC047117 Www.r￿arts.Qr￿uk RAGE ARTS (COMPANY UIArrED BY GUARAKfEE) REPORT OF THETRUSTEES AND FINANCIAL sfATFAIENTS FOR ThE 12 MoKfHS ENDED 31 DECEMBER2024 Ill￿￿111 ' *AE8Z41TrY*. .,COMPANIES fvIOUSE *AEW7CI* 08109r2025 C(XAPANIES HOUSE #201 IiAGE ARTS FOR ThE 12 MOMTHS ENDED 31 DECEMBER 2024 Page IndeP￿ent Examinerfs Rep)rt 10 11 RAGE ARTS Cwany Retsered no: 6166882 TRusfEES' REPORT INCLUDING DIRECr￿ REpoKf FIX THE 12 IA01(Tr￿ ENDED 31 DECEIABER 2024 The Trnstees, who are also dlrectors of the Charity for the purp)5es of the Companies Art, submit the Annual Re[￿rt and the unaudited flnancial statements for the Near ended ended 31 Accowtino and ReLM)rtin* bv Charitf5 In NeDarlne the ReDCrt. Refw•nce and AthilnlstratSve Charity Number. E*nd: 1120152 Scotland: 047117 Conyany Number". 616688 Registered Office: Onlons and Da￿e$ S)Ifcftors 91 Cheshire Street, ma￿et Draythi, Shropshire, TF9 3AF 11 Glen Roal. St￿1￿1*. DY8 2BB Website: The director5 of the charitable company (the Charity) are its trt￿teeS for the pury#)se of charity law throughout thls reDOrt are coliectivelv referred to a5 the Tntstees. Chief Executive Offlcer: The C(werative Bank pic PO Box 250 WN8 6wr Trustee5. There are currently 6 members131 Ilarch 2023.7). each of whom agrees to contribute nwimum of E10 ￿ the e¥ent of the Charity wind7￿ ￿. RAGE ARTS TRUSTEES. REPORT INCLIXIIMG DIREcfoRS REPORT FOR THE 12 EIKIED 31 DECEAIBER 2024 Structure. Governance and Alanasemert (Cmtlnued) Appolntment of T￿￿tee5 As set out In the Articles of Ass(thtlon rxltentlal Tntstees nmtst be recommended by the Trustees or proposed by a mernber qualified to Vote at gayai Mee￿g. Nav Tntstees are ap￿Inted at general meetir8 ty ordinary resoluti￿. Indurtlon and TralnlNJ New Trustees are provlded with Charity Cc￿￿1ttee wblicatic•is to trief on their legal obligations under Charity and company law, the C￿tent of the and Articles of Association. the deci5Ton making wcKesses, the tmtslr￿ plan and recent financial wfomiance of the Charity. facilitate the undertaking of their roie. Organlsatlon The Board of Trustees. *tiich currently has no nwnbw of n￿n￿. admfntster5 the Charity. The Board meets quarterly durin8 the year. A Chief Executive Is ap￿inted by Tntstees to manage the day to day operations of the Charity. Tofacilitate effective operatM¥)s. ￿ Chief Executive ha5 delegated thity, within te￿5 of delegation aptKoved by the Tnstees. for all ￿ratIonal matters auoss the organisatiC￿. Rlsk Alanagement An annual review of the rlsks the Charlty may face. The establishment of systerns and ￿￿edureS to mitigate th¢tse risks identified in the ￿aTr. The irnplementati(￿ of pmcedure5 designed to minmn15e any [￿ti￿ inwt on the Charity slwld those ri5k5 matwiali5e. The major risks remain those c(NKemed with health and safety. safeguarding children and Inerabie adults, financial iisk kw pÉ¥S(￿neI. RAGE ARTS Flnanclal Revlew The year to 31 December 2024 stmyrted a wlus of £8.718 (2023: deficit of £35,4Q)I Reserves Rage Arts carried forward £26,301 (December 2023: £17.5831 free reserves at year LryKI. This cwise5 of approxlmateiy 9 mcmths nmnirwJ costs TRUSTEES. REpoKf INCLUDING DIREcfoRS' REpoifr FOR THE 12 IAoKfHS ENDED 31 Plans for the Future In next >tar our key objectives . Tour a successful Chr65tmas theatre Pro¢￿tIOn to prirnary schools in and around thewest Midlands . Obtain further funding to C￿tInue the work of the Chwity. in Iwticuiar vffjrking vllth socially disadvantaged people. . Provlde affordable. accessible theatre to sc1K￿lS and ccthm1mltyvern￿. . Cont7nue to build on the reputation of Rage Arts to further develop ourwor - Contlnue to support the development of artists. . ContIm￿ to update and replace our equipment. Approved by the Board of Tntstee5 on 2024 And siqned on their behalf by. Emela Milne Andy trk)pkin5 TRUSTEES, REpoKf INCLUDING DIREcfoRS' REPORT FLMI TrE 12 MA)IfftS srATEhlEKf OF TRLISTEES. RESPOMSIBILrnES The Trustee5 are re¥•on51bte lor prepariTrd the annual report and the fina￿la1 statements sn aCcOrda￿e with oppltable law and athd UDited *£ctsuntfv* Staftdard5 lilnlted CJ 311121202 ¥Jer se(*ty1 145 fAtr* 2011 Att in ¢¥rry*YJ txrt my ewMrth*)n. I 1erse(lh￿ 145(SXb) c¢the A(t CIPFA or body O¢t 2011 M: 6166862 BALANCE SHEEf AS AT 31 DECÉMBER 1024 2024 2023 Flxed Issets. T￿￿ble A55ets Curr•nt wets Debto Cash at ts￿k In haThd 30.361 21,5 30.361 21.641 LI•￿Il¢le5 Cretsltor5: f4llln8 wlthln w J 10 (2501 129)) Net cwrent assets 21,392 Total assets ￿ current liabllitles 30.111 21.392 Credltors: arno￿ts fallln8 due after than OTh• y Nrt Ass 30.111 11.391 Fund5 Unrestrirted Funds 14 26.301 17.583 Pestrtted kncome FU￿1$ 14 30.110 21,39Z For the perioj eThI￿# 31 llec￿ber 2014 tl* conwny wa5 entitled to frty)) aLbJit seciion 477 of the Con4)anles *£t 2CQ6 ￿latIrry to sm&i c¢*Yyan*5. Dk•¢tors' rapmslbllltles: the memiYr5 have not requlred the cthmpany to an aullt of its for the perbj Irs que5tiM in accordaKe with sect*Jn 476- the directN5 acknowledge their ￿p￿s1)ll￿tIeS for wtth reWrernents of t Act res&￿¢ ￿ acc¢wniing ￿ordS and the preparatkn of accwnts. these accowts been prepared in accordarKe wth the ¥eclal pr￿￿)n5 of Part 15 of t Cc4npanies Act relatin8 to tharitabie small companies. The finandal Statements %%*re arproved by P*)ard of Tr￿tee5 on authoM5ed fcr 655ue and S￿ned on their behalf ty- Treasur¢Y: The 14Jtes on pages 14 to Zl fom) part of fthanclal staten*nt RAGE ARTS 1. Accountlng Polldes 8asts of Accountknl The SI￿7ficant accounting Wicies ￿￿"ed in the p1ryaratiL￿ of th&efinanciai stat￿￿t5 are set out bel¢)w. These pdioes hm be￿ C￿9$i￿dY awiied to all years prewted vnless otherwase The charity constitutes a wblic benefitentity as lefined by FRS IOL The financial ststements I￿en prepared ill acc(YdKKe with kc(wnting Reporting by Charitith Statement rf Recommded Practice aFglicable to charities preparing their accomtsin accor¢ance vith the nacia Reporting &an&r(l a￿'C￿le in the VK and RqwlAic of lie1ar￿ IFRS 1021 issued aj 16 Juty 2014, the Finanoal Worting S￿lJard awicètle in the United ￿n9th)n and Repubtt£ of Ireland IFRS 1021, the Charities Act 2011, the CL￿4)anIeS Act UK Generalty Accepted Practice as it aFg1ies Ir(m l January 201 The firtanaal sta*mts hm be￿ prwred under the hi5tiYicai co* the g(ing concern basis, ￿lch theTwstees con&der to be a￿TI￿rIate in the (￿text ol the Charity's ability to meet its d)ligaticffls as thty fall the, in the perithl of t￿￿Ve follo%%ing the date of approval of these financial 5tatemt% In this c(nsiderdticffj, the Trustees hèwe tak￿ into occount the Charity'5 a￿tt P￿ition, the le¥tl ￿(1 profile d its liaih'ties and the Charity's abitity to detefmine the levd of (haritable seNce5 delivered. If the Charity wtre unaNe to (L￿tInue to operate, adjustrnents hwe to ￿ male to rethce the value of the assets to thar rec￿￿table aff￿unt and to prthryde fcy anyfurther liabilibes Ihat aiise. Restrfcted Funo Restricted Funds are funds for vthich the thnor ha5 speafically re#ricted the pury for they on be used. The ￿n￿nt renwiningin the fund5 repre5ff*ts the ffmies stll rananingfor futsre ewi¢thtsre, or funth reprewted ty assets purthased paruy or fully frfm regtricted fvné5. When a time-lifflited restrfction ar an asset has e4Jired or been released or vtherefunds received for restritted Pu￿05e5 are eypended on the purchoe of o5ets over 7*1)i(h there is no further restrictiM the cost of the asset is as a tranrfer to the unrestricted funds. 10 1 Acc•unlln8 Pdkl•s (Conllnu•d) U￿r￿lY￿1*d Fuftds ￿￿estrIcted Funds are avallat4e use at the d15creutsi of the Trustees Sn furtherance of the general objectives of the charity. Incom• All Incrthng rescwrce* are included tn the Strt&n￿l of Flnancr81 Aetlvrtles {SoFa) the ch8rlty is legally entlLled Lo the Income after any p*sfcffiI￿ce rmditi￿S h•¥e be￿ nEI. the amount con be measured rellably and It Is wobabie that the Income ¥•AII be recel¥ed. For dM•iions to be reEowlsed the tharlty ￿11 have been notlfled of the arrxjunts and the settlement dare In NwltSn8. If there ore c￿dIti￿$ attached to the 4knation Jhd thls rewlres ) level of perfom)ance before ￿lI￿ement can ￿ obtalned th￿ Inc4yne Is 4J2ferred untll those C4Jndltlons are fully mer or the fulilln*nt of those condlLlt)ns frs vALhln the control of the ch¥lty and It is probable that they ¥MII be fulfiiied. All Inccffte Is allocated to the general fund unless othwvAse restrlcted by the donw. No 4yTh￿nt Is Induded in the financlal Stat￿entS fcr *YAuntÈer tlme kn Ilne T•Ath the SW IFRS 102>. Exp•Trdiiure All expendlture 15 accwnted for on an Jccruals basls has been cla551liecJ Ltnder headln#s thet gErega¢e oll ¢osts relaled to the category. Expendlture 15 recognlsed ￿ere there Is a legal cr C•￿$rrI&Étlve ob1tgati￿ to make Pa￿￿￿tts to third pwtles. it is F*obabie that the settlement will be rewlred and the of the obllqatkn can be measuresl ￿labLY. Op•ratkn8 L••x•s Rentals *￿￿£?b1e to cyeratlng leases. bthere sub5tonttally all of the kneflts and risks of othnershlp rwmaln the less￿. are tharged agalnst InCry￿ as Inojrred. Flx•d As5•15 and D•pr•¢lallon Tan￿ble fixed a55etS a￿ staEe<1 •[ cost {cr de￿￿￿ ¢ost) or volu¥tlon less ac¢vmul?Led depreclation and accumulated irnpairment losses. C05r kndudes c05t% thre¢iiy attrfbutst4e to mèklng the asset capable of operatlng 4$ iniw)ded. Assers a cost of I￿$ than £750 ¥e not ¢aplta115ed as Immattrtal. 11 pro¥i5ion is calculated as folltyM3: EqLriFfflent. Flxthre5 FiitiKW: 20%. Strnitht Line 2024 2023 6.039 555 ilnrestricted tknatlLm5 from T￿￿te¢S 22.1 Harry Payne F￿d Patrlck Tn 350 GrfmmlttTnttt 1,ZlX) 1.495 The Sir Barry Jackson Trurt The Slr Vfill*mAcadt￿ry Tnst 750 6.2 2024 2023 Schods Chrfjstma5Tryx 1.768 1.240 2024 2024 2024 2023 32.34 12 5. Net IncomelExpondltur• 2024 2023 Deprffiatlon of assets GovernarKe costs 250 6. Prior Year Ststefflent of FinJrKial ktivttles Funds 2023 Funds 202J 2023 c a feature film or suirt trweof. or other film if inArffident f￿d$ are ratsed. 16 PAGE ARTS NOTE5 TO THE FINANaAL sfATEKIIT5 FOR ThE YE*R ENDED 31 DECEMBER 2024 15. Constltutlt)n The ￿lety is irKoryated in Engumd and Wale5 and is limited try guarantee. In the event of the Charity being wourKI up. the liability in re5pert of the guarantee is limited to £10 per membtt of tl* Charity. The Charity 15 exempt from tax ￿ inumne and gains falling wbthlng secticm 505 of the Taxes Act 1988 or secti(m 252 of the Taxat￿ of Chargable Gains kt 1992 to the extent that these are applied to its objects. 17. ReLited Party Transactlons & Tru5terf' expènses and remuneratlon Donations of £0 (2023: £0) were receibEd fri￿ TnJ5tees ¢*Jring ￿K￿J. The Charltys Insuran￿ Indude tntstee fndemnlty insuraKe. The charfty pald no other expenses or remunerntl¢)n to any Tn￿tee thrfng the year12023: EO). Tlwe were M fwther related party during the year12023: none). 17