## **Rage Arts** **Charity No. 1120152** **Company No. 06166882** **Trustees' Report and Unaudited Accounts** **31 December 2025** **Rage Arts Contents** ||Pages|| |---|---|---| |Trustees' Annual Report|2 to 3|| |Independent Examiner's Report||4| |Statement of Financial Activities||5| |Summary Income and Expenditure Account||6| |Balance Sheet||7| |Notes to the Accounts|8 to|13| |Detailed Statement of Financial Activities|14|to| Page 1 **Rage Arts Trustees Annual Report** The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2025. The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS102). ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 06166882** ## **Charity No. 1120152** ## **Registered Office** 27, Hawker Close Birmingham, England Hawker Close Birmingham B31 2GU ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: L.M. Atton A. Hopkins E.M. Milne J.R. Webster The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board Page 2 **Rage Arts Trustees Annual Report** E.M. Milne Trustee 06 May 2026 Page 3 (HARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Indepen(Jent Examiner s Report Report to thg tru•t•os Rage Arts On a¢¢ounts for tho year Charfty no (If any) 1120152 I report lo the trustees on my examination of the accounts of the above charity (Ihe Trust") for the year ended 3111212025. Responslbllltlos and basls of report As the tharity's trustees, you are respcfftitAe fix the Fwaration of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acr). I report in resr*d of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in ¢arying out my examination. I have followed all the applicable Directions gNen by the Charity Commission under section 1495Xb) of A Independont I have completed my examinatim. I confim that no material matters have examinerfs stat•m•nt come to my attention in C(￿neCt￿)n with the examtnation which gives me cause to bd*ve that in, any material respect the accounting records were rK>t kept in acccrdance with section 130 of the Chafities A(*", or the accounts did not accord vitth the accounting records: or the a¢¢ounts did not comply wtlh the applicabk requirements concerning the fomi and ￿ntent of a¢￿Unts set out in the Charities **Income and endowments**
**from:**
Donations and legacies
4
Charitable activities
5
**Total**
**Expenditure on:**
Charitable activities
6
Other
7
**Total**
Net gains on investments
**Net (expenditure)/income**
8
Transfers between funds
**Net (expenditure)/income**
**before other gains/(losses)**
Other gains and losses
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
2,038
5,025|**Restricted**
**funds**
**2025**
**£**
11,500
-|**Total funds**
**2025**
**£**
13,538
5,025|**Total funds**
**2024**
**£**
39,549
1,768| |---|---|---|---|---| ||7,063
8,509
3,505|11,500
11,500
-|18,563
20,009
3,505|41,317
32,348
250| ||12,014
-|11,500
-|23,514
-|32,598
-| ||(4,951)
-|-
-|(4,951)
-|8,719
-| ||(4,951)
-|-
-|(4,951)|8,719| ||||0|0| ||||-|-| ||(4,951)
26,302|-
3,809|(4,951)
30,111|8,719
21,392| ||21,351|3,809|25,160|30,111| Page 5 **Rage Arts Summary Income and Expenditure Account for the year ended 31 December 2025** |Income
**Gross income for the year**
Expenditure
**Total expenditure for the year**
Net (expenditure)/income before tax
for the year
**Net (expenditure )/income for the year**|**2025**
**£**
18,563
18,563
23,514
23,514
(4,951)
(4,951)|**2024**
**£**
41,317| |---|---|---| |||41,317| |||32,598| |||32,598| |||8,719| |||8,719| Page 6 **Rage Arts Balance Sheet** ## **at 31 December 2025** |**Company No.**
**06166882**
**Notes**
**2025**
**£**
**Fixed assets**
Tangible assets
10
-
**Current assets**
Cash at bank and in hand
25,759
25,759
**Creditors:**Amount falling due within one year
11
(599)
**Net current assets**
25,160
**Total assets less current liabilities**
25,160
**Net assets excluding pension asset or liability**
25,160
**Total net assets**
25,160
**The funds of the charity**
**Restricted funds**
12
Restricted income funds
3,809
3,809
**Unrestricted funds**
12
General funds
21,351
21,351
**Reserves**
12
**Total funds**
25,160|**2024**
**£**
-
30,361| |---|---| ||30,361
(250)| ||30,111
30,111| ||30,111| ||30,111| ||3,809| ||3,809
26,302| ||26,302| ||30,111| The trustees have prepared the accounts in accordance with section 44 of the Charities and Trustee Investment (Scotland) Act 2005 and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 December 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 06 May 2026 And signed on its behalf by: E.M. Milne Trustee 06 May 2026 Page 7 **Rage Arts Notes to the Accounts** ## **for the year ended 31 December 2025** - 1 **Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. There is however an operational decision to record 'film and theatre project' expenditure under more details categories ## **Fund accounting** - Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. - Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. - Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. - **Income** Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. - Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 8 **Rage Arts Notes to the Accounts** ## **Expenditure** - Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. - Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. - Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. - Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. - Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Freehold investment property** Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. ## **Stocks** Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for nay trade discounts due. Page 9 **Rage Arts Notes to the Accounts** ## **Research and development** Expenditure on research and development is written off in the year in which it is incurred. ## **Foreign currencies** Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. ## **Leased assets** Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. ## **Pension costs** The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. ## **Receipt of donated goods, facilities and services** All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. ## 2 **Company status** The company is a private company limited by guarantee and consequently does not have share capital. Page 10 **Rage Arts Notes to the Accounts** |**Rage Arts**
**Notes to the Accounts**||||| |---|---|---|---|---| |3
**Statement of Financial Activities - prior year**
**Income and endowments from:**
Donations and legacies
Charitable activities
**Total**
**Expenditure on:**
Charitable activities
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
4
**Income from donations and legacies**
Grants and donations
5
**Income from charitable activities**
Schools Christmas Tour Fees|**Unrestricted**
**£**
2,038
2,038|**Unrestricted**
**funds**
**2024**
**£**
28,199
1,768
29,967
20,998
250
21,248
8,719
8,719
8,719
17,583
26,302
**Restricted**
**£**
11,500
11,500
**Unrestricted**
**£**
5,025
5,025|**Restricted**
**funds**
**2024**
**£**
11,350
-
11,350
11,350
-
11,350
-
-
-
3,809
3,809
**Total**
**2025**
**£**
13,538
13,538
**Total**
**2025**
**£**
5,025
5,025|**Total funds**
**2024**
**£**
39,549
1,768| |||||41,317
32,348
250| |||||32,598| |||||8,719| |||||8,719| |||||8,719
21,392| |||||30,111| |||||**Total**
**2024**
**£**
39,549| |||||39,549| |||||**Total**
**2024**
**£**
1,768| |||||1,768| Page 11 **Rage Arts Notes to the Accounts** ## 6 **Expenditure on charitable activities** |6
**Expenditure on charitable activities**|||| |---|---|---|---| |**Unrestricted**
**£**
_Expenditure on charitable_
_activities_
Schools Christmas Tour
Wages (prior year full cost of
tour)
3,560
Christmas Tour related
expenses
769
Vehicle hire for Christmas
Tour
1,247
Manager wages - all hours
connected to tour
2,933
_Governance costs_
8,509
7
**Other expenditure**
Premises costs
General administrative costs
Legal and professional costs
8
**Net (expenditure)/income before transfers**
This is stated after charging:
Independent Examiner's fee
9
**Staff costs**
No employee received emoluments in excess of £60,000.
Total employee benefits received by key management
personnel|**Restricted**
**£**
11,500
-
-
-
11,500
**Unrestricted**
**£**
2,496
409
600
3,505
**2025**
**£**
250
1|**Total**
**2025**
**£**
15,060
769
1,247
2,933
20,009
**Total**
**2025**
**£**
2,496
409
600
3,505|**Total**
**2024**
**£**
32,348
-
-
-| ||||32,348| ||||**Total**
**2024**
**£**
-
-
250| ||||250| ||||**2024**
**£**
250
1| Page 12 **Rage Arts Notes to the Accounts** ## 10 **Tangible fixed assets** |**Tangible fixed assets**|||| |---|---|---|---| |**Cost or revaluation**
At 1 January 2025
At 31 December 2025
**Depreciation and**
**impairment**
At 1 January 2025
At 31 December 2025
**Net book values**
At 31 December 2025
At 31 December 2024
**Creditors:**
amounts falling due within one year
Accruals|**2025**
**£**
599
599|**£**
3,120
3,120
3,120
3,120
-
-|**£**
3,120| ||||3,120| ||||3,120| ||||3,120| ||||-| ||||-| ||||**2024**
**£**
250| ||||250| ## 11 **Creditors:** Page 13 **Rage Arts Notes to the Accounts** ## 12 **Movement in funds** |12 **Movement in funds**|||||| |---|---|---|---|---|---| ||**At 1 January**
**2025**
840
2,969
-
-
-
-
-
-
3,809
26,302
-
-
30,111|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
-
-
2,000
3,000
1,500
3,000
1,500
500
11,500
5,063
2,000
2,000
18,563|**Resources**
**expended**
**£**|**Gross**
**transfers**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-|**At 31**
**December**
**2025**
**£**
840
2,969
-
-
-
-
-
-| |**Restricted funds:**
**Restricted income funds:**
Film Project
Asset Replacement Fund
The Cole Charitable Trust
The Rowlands Trust
The Grimmitt Trust
The Sir Barry Jackson Trust
Edward Cadbury Trust
The Patrick Trust
_Total_
**Unrestricted funds:**
**General funds**
**Designated funds:**
The Harry Payne Fund
Distributed by the Heart of
England Community
Foundation
_Total_
**Total funds**|||||| ||||-||| ||||-||| ||||(2,000)||| ||||(3,000)||| ||||(1,500)||| ||||(3,000)||| ||||(1,500)||| ||||(500)||| ||||(11,500)
(10,014)
(2,000)
(2,000)
(23,514)||| ||||||3,809| ||||||21,351
-| ||||||-| ||||||| ||||||25,160| Purposes and restrictions in relation to the funds: Restricted funds: Film Project The Film Project consists of donations received in response to the Charity's appeals to raise funds to make a feature film or script thereof, or other film if insufficient funds are raised. Asset Replacement Fund The Asset Replacement Fund comprises funds to repair and replace existing equipment as neccesary where otherwise unfunded, arising from donations from Rage Trust's sale proceeds of the Trust's old equipment The Cole Charitable Trust For the 2025 Production of Peter and the Wolf The Rowlands Trust For the 2025 Production of Peter and the Wolf The Grimmitt Trust For the 2025 Production of Peter and the Wolf The Sir Barry Jackson Trust For the 2025 Production of Peter and the Wolf Edward Cadbury Trust For the 2025 Production of Peter and the Wolf The Patrick Trust For the 2025 Production of Peter and the Wolf The Cole Charitable Trust The Rowlands Trust The Grimmitt Trust The Sir Barry Jackson Trust Edward Cadbury Trust The Patrick Trust Designated funds: Page 14 **Rage Arts Notes to the Accounts** The Harry Payne Fund Core Costs Distributed by the Heart of England Community Foundation ## 13 **Analysis of net assets between funds** |13 **Analysis of net assets between funds**|||| |---|---|---|---| |Net current assets
14 **Reconciliation of net debt**
Cash and cash equivalents
Net Debt|**At 1 January**
**2025**
**£**|**Unrestricted**
**funds**
**£**
25,160
25,160
**Cash flows**
**£**|**Total**
**£**
25,160| ||||25,160| ||||**At 31**
**December**
**2025**
**£**| ||30,361|(4,602)|25,759| ||30,361
30,361|(4,602)
(4,602)|25,759| ||||25,759| ## 15 **Related party disclosures** ## _**Controlling party**_ The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 15 **Rage Arts Detailed Statement of Financial Activities** ## **for the year ended 31 December 2025** |**Income and endowments**
**from:**
Donations and legacies
Grants and donations
Charitable activities
Schools Christmas Tour Fees
**Total income and endowments**
**Expenditure on:**
Charitable activities
Schools Christmas Tour Wages
(prior year full cost of tour)
Christmas Tour related
expenses
Vehicle hire for Christmas
Tour
Manager wages - all hours
connected to tour
**Total of expenditure on**
**charitable activities**
Premises costs
Rent
Light, heat and power
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Bank charges
General insurances
Telephone, fax and
broadband
Legal and professional costs|**Unrestricte**
**d funds**
**2025**
**£**
2,038
2,038
5,025
5,025
7,063
3,560
769
1,247
2,933
8,509
8,509
2,178
248
70
2,496
8
386
15
409|**Restricted**
**funds**
**2025**
**£**
11,500
11,500
-
-
11,500
11,500
-
-
-
11,500
11,500
-
-
-
-
-
-
-
-|**Total funds**
**2025**
**£**
13,538
13,538
5,025
5,025
18,563
15,060
769
1,247
2,933
20,009
20,009
2,178
248
70
2,496
8
386
15
409|**Total funds**
**2024**
**£**
39,549| |---|---|---|---|---| |||||39,549| |||||1,768| |||||1,768| |||||41,317
32,348
-
-
-| |||||32,348| |||||32,348
-
-
-| |||||-| |||||-
-
-| |||||-| |||||| Page 16 ## **Rage Arts Detailed Statement of Financial Activities** |**Rage Arts**
**Detailed Statement of Financial Activities**||||| |---|---|---|---|---| |Audit/Independent
examination fees fees
**Total of expenditure of other**
**costs**
**Total expenditure**
Net gains on investments
**Net (expenditure)/income**
**Net (expenditure)/income**
**before other gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|600
600
3,505
12,014
-
(4,951)
(4,951)
-
(4,951)
26,302
21,351|-
-
-
11,500
-
-
-
-
-
3,809
3,809|600
600
3,505
23,514
-
(4,951)
(4,951)
-
(4,951)
30,111
25,160|250| |||||250| |||||| |||||250| |||||32,598
-| |||||8,719| |||||8,719
-| |||||8,719| |||||21,392| |||||30,111| Page 17