Asian Art Fund Scotland - Annual Report
Scottish Charity No – SC049548 Annual Report and Financial Statements For the year from 1[st ] January 2024 to 31[st] December 2024
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
Trustees’ Annual Report
The trustees take pleasure in presenting their report together with the financial statements for the year ended 31 December 2024.
Reference and Administrative Information
Charity name and number – Asian Art Fund Scotland, SC049548
Address – 25/2 Roseneath Place, Edinburgh EH9 1JD
Trustees who served during 2024
All three trustees were in position for the entirety of the year in question.
Structure, Governance and Constitution
The Charity is a Scottish Charitable Incorporated Organisation (a SCIO). It was registered with OSCR on 20 August 2019. It has a single tier structure and as such the trustees are the members of the charity. Operations of the charity are governed by the Constitution.
Appointment of trustees
Trustees are re-elected at the annual general meeting and additional trustees may be elected at any time during the year. The existing trustees are always looking to recruit more trustees, up to the maximum number of seven, as well as volunteers to assist. Of particular interest are those who can fill particular skills gaps, those with an arts background and those of Asian ethnicity. At the year end the secretary position was vacant.
Objectives and Activities
Charitable purposes
The organisation is established for charitable purposes only as follows:
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To achieve higher visibility and better representation for Asian artists and art forms in Scotland and the cultural West
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To create close creative and heritage links and partnerships between Asia and Scotland
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To promote more diverse stories including those with an Asian perspective in Scotland and the cultural West
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
Activities of Asian Art Fund Scotland
Our main activity for 2024 was organizing the Asian Art Awards (AAA) during the Fringe in August. Except for a break during COVID, we have been running continuously since 2014.
54 productions were involved in 2024 with the following geographical split. China was the most represented country with 21 productions, not including 6 more from Taiwan. The next largest were India and Japan, both with 6 and then: Singapore 5, Korea 4, Hong Kong 3, Indonesia 2 and Vietnam 1. We accepted applications to participate right up to the award decisions.
Our team of volunteer reviewers expanded to 15 of whom 8 were female and 4 were Asian. All of them work in the arts sector or have a strong interest in it.
We had extensive media coverage of the 2024 awards with large features in the Scotsman, the National, the Straits Times (of Singapore) and the Edinburgh Reporter in particular. We also had a much greater social media presence than in previous years, with the focus on Instagram, TikTok and X. We have an attractive new logo and our website (asianartfundscotland.org) is now much improved with galleries of prior years’ awards as well as much more information about Asian Art Fund Scotland (who we are, how we run the awards and more).
Our 2024 awards ceremony was held in the French Institute on the High Street with special guest ~~a~~ , deputy CEO of the Fringe, handing out the awards. Earlier in the Fringe, we also had a Launch Party and Press Night for the first time which was held at the Assembly’s Treehouse Bar in George Square. This was a great success with a large attendance of over 100 artists with everyone having an opportunity to meet their peers and present their work. We plan to repeat this event in 2025.
Results of the 2024 Asian Art Awards
The artistic standards of the productions involved in the 2024 Asian Art Awards were incredibly high overall. The winners were as follows:
Outstanding Production
Winner: Legend of the White Snake - Northern Kunqu Opera Theatre – China
This spellbinding production was the clear winner among the reviewers and played to packed audiences at C Aurora. The cast and musicians also attended a Kunqu-themed reception at the City Chambers. High Commended – ~~a~~ - Gytr.art with 7evenotes Productions and Mhyajo - Indonesia Highly Commended – Weaving Me, Weaving Mum – - UK/China a ~~ee~~ Outstanding Male Performer Winner: a / LIVE MANGA – Japan
are two hilarious and talented comedians who performed at the Tokyo Olympics
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
opening ceremony in 2022.
Highly Commended – Wong Tan-ki – It’s Not My Body Chapter 3.5 - Hong Kong Soul 2024
Outstanding Female Performer
Winner: ~~a~~ , YOAH Cirquework, Japan Within a highly acclaimed show at the Underbelly tent in the Meadows, the reviewers loved Tsumugi’s beautiful and poised central performance as YOAH.
Highly Commended - ~~a~~ - Psychobitch - W!ld Rice – Singapore
Highly Commended - aa - Vanishing - in-version ensemble
Outstanding Show
Winner: Aha! Doggy Poo - Modl Theater – Korea
Aha! Doggy Poo was a sweet children’s show at Bedlam Theatre with beautiful costumes, performances and props and, as can be inferred from the title, a highly original story!
Highly Commended – Picasso 2033 - WaitDog - China/UK
Highly Commended – Sushi Tap Show, Tokyo Tap Do! - Japan
Outstanding Young Performer
Winner: The winning award was shared between:
Only Human - Conundrum Theatre – Singapore, and
Echoes from The Archipelago – An Indonesian Music Odyssey, Trinity Youth Symphony Orchestra (also known as Trust Orchestra) – Indonesia
The reviewers loved Only Human, a highly original and delightful dystopian Sci-Fi drama (with songs and dances) about robot and human co-existence, while the Trust Orchestra at the Queen’s Hall gave two incredible musical performances including collaborations with Gaelic singer a , a Scottish piper and the Indonesian ambassador on saxophone. Highly Commended – aa (the Green Snake) - Legend of the White Snake - China
Asian Arts Special Award
Winner: Draft My Life - A Concept Musical - We Draman Group – Hong Kong
With original and catchy music and great performances, the reviewing team loved Draft My Life, a musical about leaving home. Note also that this award is always decided only by the founder of the Asian Art Awards, a , who loved this Hong Kong show. Highly Commended - Cantonese Opera x Children’s Interactive Theatre: Dic Dic Chang Chang Playground - One Table Two Chairs - Hong Kong Highly Commended – a (the White Snake) - Legend of the White Snake – China
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
Financial summary, funding and reserves policy
The accounts indicate that funding was significantly increased in the year. However much of this (around £2,500) was due to employee invoices for 2023 being received and paid in 2024. In addition to the award ceremony we also had a second event (the launch party and press night) although the event costs were much the same from 2023 to 2024 as we used lower budget venues in 2024. We will continue to review and consider new venues each year and make decisions based on our needs and funds.
AAFS was funded during the year by Asian Arts Global (AAG: asianartsglobal.com) and Shanghai Jiashile Creative Culture Co Ltd. AAG is a commercial company which is primarily involved in bringing theatre productions and related activities to Scotland and is registered with Companies House (SC656290). The Creative Producer of AAG is a , who is also the founder of the Asian Art Awards. AAG makes donations to AAFS as agreed by its donors, in particular Shanghai Jiashile Creative Culture Co Ltd. Shanghai Jiashile Creative Culture Co Ltd occasionally also makes direct donations to AAFS. We continue to explore other options for additional funding.
The funding and reserves policy is that funds are released to AAFS by our donors in accordance with pre-agreed budgets. As such there is no reserves policy per se.
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
Statement of Receipts and Payments for the year to 31/12/24
| Unrestricted | Restricted | Total current | ||
|---|---|---|---|---|
| funds to nearest |
funds to nearest |
period to nearest |
9 months to 31/12/23 |
|
| £ | £ | £ | £ | |
| Receipts | ||||
| Donations | 6,100 | - | 6,100 | 2,945 |
| Grants | - | - | - | - |
| Fundraising | - | - | - | - |
| Total receipts | 6,100 | - | 6,100 | 2,945 |
| Payments | ||||
| Fundraising costs | - | - | - | - |
| Cost of charitable activities | 5,848 | - | 5,788 | 4,289 |
| Governance costs | - | - | 60 | 30 |
| Purchase of equipment | - | - | - | - |
| Total payments | 5,848 | - | 5,848 | 4,319 |
| Surplus/(Deficit) for the year | 252 | - | 252 | (1,374) |
| Transfers between funds | - | - | - | - |
| Surplus/(Deficit) for the year | 252 | - | 252 | (1,374) |
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
Statement of Balances - As at 31 December 2024
| Unrestricted | Unrestricted | Restricted | Restricted Total |
9 months | |||
|---|---|---|---|---|---|---|---|
| funds | funds | current | to | ||||
| to nearest | to nearest | to nearest | to nearest period |
31/12/23 | |||
| to nearest | to nearest to nearest |
||||||
| £ | £ | £ | £ | ||||
| Opening cash at bank and in hand |
60 | - | 60 | 1,434 | |||
| Surplus/(Deficit) for the year |
252 | - | 252 | (1,374) | |||
| Closing cash at bank and in hand |
312 | - | 312 | 60 | |||
| Bank and Cash Balances | |||||||
| Bank deposit | 312 | - | 312 | 60 | |||
| account | account |
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
Notes to the accounts for the year 31st December 2024
1 Basis of accounting
These accounts have been prepared on the Receipts and Payments basis in accordance with the Charities & Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the constitution.
2 Nature and purpose of funds
Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. A single unrestricted fund is maintained for the day-to-day running of the club.
3 Related party transactions
No remuneration was paid to any trustees or connected persons during the year or in the prior year.
4 Donations
| Unrestricted | Restricted | Total | 9 months | |
|---|---|---|---|---|
| funds | funds | current | to 31/12/23 | |
| to nearest | to nearest | period | to nearest | |
| to nearest | ||||
| £ | £ | £ | £ | |
| Donations from Asian Arts Global (AAG) and Shanghai Jiashile |
6,100 - |
- | 6,100 | 2,945 |
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
5 Cost of charitable activities
| 5 Cost of charitable activities | ||||
|---|---|---|---|---|
| Unrestricted | Restricted |
Total current | 9 months | |
| funds | funds | period | to | |
| to nearest | to nearest | to nearest | 31/12/23 | |
| to nearest | ||||
| £ | £ | £ | £ | |
| Costs of organising Awards for 2023 | - | - | - | 4,210 |
| Costs of AAA Launch Party | 863 | - | 863 | - |
| Costs of AAA Awards Party | 1,054 | - | 1,054 | - |
| Costs of 2023 Awards paid in 2024 | 2,500 | - | 2,500 | - |
| Other running costs of AAA | 1,099 | - | 1,099 | - |
| Admin costs | 199 | 199 | - | |
| Banking costs | 35 | - | 35 | 31 |
| Website costs | 98 | - | 98 | 78 |
| Total | 5,848 | - | 5,848 | 4,319 |
| Note that a more detailed breakdown of | ||||
| costs has been provided for 2024. |
6 Governance costs
| 6 Governance costs | ||||
|---|---|---|---|---|
| Unrestricted | Restricted |
Total current | 9 months | |
| funds | funds | period | to | |
| to nearest | to nearest | to nearest | 31/12/23 | |
| to nearest | ||||
| £ | £ | £ | £ | |
| Independent examiner's fee | 60 | - | 60 | 30 |
7 Transfers between funds
There were no transfers of between restricted and unrestricted funds during the period. We have no restricted funds.
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548
Independent Examiner’s Report to the Trustees of Asian Art Fund Scotland
I report on the accounts of the charity for the year ending 31 December 2024 which are set out on pages 5 to 8.
Respective responsibilities of trustees and examiner
The charity’s trustees 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 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the 2006 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 my attention.
Basis of independent examiner’s statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Asian Art Fund Scotland – 25/2 Roseneath Place, Edinburgh EH9 1JD asianartfundscotland.org - charity number SC049548