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REGISTERED COMPANY NUMBER: 01114273 (England and Wales)
REGISTERED CHARITY NUMBER: 0266038











REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BATH ARTS WORKSHOP LIMITED

BATH ARTS WORKSHOP LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Report of the Trustees 1 to 4

Independent Examiner's Report 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 15

BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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
Objectives and aims
The principal objective of the company is to promote, encourage and increase the appreciation and understanding by the general public of the arts generally, and promote education in all sections of the community of both cultural and creative arts. This is achieved primarily though the performances of The Natural Theatre Company (a trading name) and educational workshops.


BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


OBJECTIVES AND ACTIVITIES
Significant activities
Bookings were down this year. We have had more enquiries for free gigs or for unrealistically low budgets. This is evidence of a very sluggish economy. However, many new contacts and conversations for good work in the future. Things picked up in the Autumn. We have invested in work on our building to make it more sustainable and this work has been partially supported by a WECA grant. NLHF funds supported the completion of the Hidden Heroes project and smaller grants helped with the community project in Radstock culminating the Fayre.

Highlight gigs:
o Roman Baths continues very strongly
o Hidden Heroes Finale in Bristol
o Radstock Fayre (we performed and co-organised with Creativity Works)
o Glastonbury Festival
o Ascot
o Forest of the Imagination at The Assembly Rooms
o Dirty Bath at Roman Bath Clore learning Centre
o Summer Sundays for Bath BID
o Wilderness Festival
o Monmouth Henry V Festival
o Hamburg- our first international event for 4 years!
o Bartholomew Fair in London
o Jane Austen Festival Lost & Found Walking Tour
o Jane Austen Inspiration and Perspiration Improvised show
o Performances at The Assembly Rooms
o Workshop at Bath Spa Uni
o Shakespeare Begins at The Bullring in Birmingham, 5 cast
o Training workshops for volunteers at Tyntesfield House
o Tyntesfield House Costumed interpretation over Christmas

Participation:
o Hidden Heroes NLHF project was finished. The final figures for the project were: Artists: 105; Participants: 1,104; Hours of Engagement: 150; Audience: 2,359. The final report is attached. We have just heard that YTL are naming 3 new streets in their development after our Hidden Heroes. This is an amazing legacy for the project.
o SEN provision continued with three of our individual students performing their final Arts Award pieces
o Radstock Fayre was a huge success in June with over 800 attendees. There has been a lot on enthusiasm to make this an annual event and the Arts Council visited Radstock last week to see the exciting opportunities there itself. The film of the event will be posted on the YouTube channel soon.
o Diversions performed at Glastonbury Festival once again this year to great acclaim and we are looking at booking more festivals for next year.

Development Work
o Our new promotional film of our work was created and put on our website
o Final agreements were made with London Transport Museum for The Truth About Harry Beck in September 2024
o Development and Implementation of a new flexible staff structure: One role was made redundant, another incumbent moved to another organisation, A Client development administrator role was introduced. A new part-time admin role is due to start in the new Financial year. We are also appointing a Bookkeeper
o Discussions with Equity to improve our contracts with performers. Actors now have 3 Equity Reps.
o Director had coaching sessions
o The Client development role led to more meetings with new event companies
o Roman Baths actors' Guide has been rewritten and updated by actors
o We have agreed to remount "A Christmas Cracker" at The Rondo in 2024
o Received a grant Wilson Fund for work in the Timsbury area.
o Investment in the "greening" of the building through double glazing, insulation and LED was completed


BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


OBJECTIVES AND ACTIVITIES
Public benefit
The charity objectives and aims are performed with regard to the Charity Commission guidance on public benefit.

Social investments
These were received from:
- performance fees
- The National Lottery Heritage Fund
- donations from local business and trusts
- building hire.

Strategies
Strategies employed to achieve the objectives:
- continued support of several community and education projects, including youth theatres and work experience weeks for young people
- the hire of the studio, workshop and office space
- increased Twitter, Facebook and Instagram activity

Future plans
Our future plans are detailed in our business plan for 2023-6
- to make the company more environmentally friendly, through improving the building insulation and reducing power usage; by recycling and re-using props and costumes; by using shared transport as often as possible
- develop new performances
- continue to develop education/participation strands
- create projects to sell directly to the general public
- to reach new clients through long-term business relationship development
- to continually review the success of the current business plan.

RESERVES
The trustees have decided that £80,000 should be kept in reserve at all times as a contingency. This figure breaks down as follows; £45,000 to cover maintenance of essential services, £15,000 to support the cash flow of the charity and £20,000 for unplanned closure, to meet pay and redundancy costs. This Reserves Policy was reviewed for this financial year.

At the end of the year, the charity had unrestricted net current assets of £122,374.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies House Act 2006.

Trustees and organisational structure
Trustees are appointed by the board of trustees and normally serve for a period of three years, at the end of which time they may seek re-appointment. The minimum number of trustees (a quorum) is three and the maximum thirty. Trustees agree the broad strategy for the company and delegate day to day administration and implementation to the artistic director. The trustees keep the skill requirements of the board under review. New trustees may be sought by open advertisement or through dialogue with candidates with relevant expertise. Selection of new members is a matter for the existing board. On appointment, new members are given an introduction to the work of the company and provided with information about their role and charity law.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01114273 (England and Wales)

Registered Charity number
0266038


BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

Registered office
Widcombe Institute
Widcombe Hill
BATH
BA2 6AA

Trustees
A P S Born
J S Herring
J T Walters
J Bennett
J A W Butterworth

Company Secretary
A P Burden

Independent Examiner
Berkeley Hall Marshall Limited
6 Charlotte Street
Bath
BA1 2NE

INVESTMENT POLICY AND OBJECTIVES
The charity has limited reserves and these are generally held in accounts which are readily accessible. The trustees are, however, mindful of their responsibilities and seek to obtain the best returns available within the context of such a policy.
The charity owns the freehold of the building from which it operates. The building is shown as a designated fund in the accounts to distinguish it from readily available funds.

FINANCIAL REVIEW
The financial statements of the charity for the year ended 31 March 2024 show a deficit of £12,328. After taking into account all sources of income, and not including the depreciation of the building, there was a surplus of £1,371.

During the year, the company received £50,079 in grants and donations, which was used during the year to meet the running costs of the company. The trustees continue to actively review and consider all funding options and the Board has implemented strategies to match income to costs to secure the long term future of the Company.

Approved by order of the board of trustees on 6 November 2024 and signed on its behalf by:





A P S Born - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

Independent examiner's report to the trustees of Bath Arts Workshop Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Matthew Small FCA

Berkeley Hall Marshall Limited
6 Charlotte Street
Bath
BA1 2NE

21 November 2024

BATH ARTS WORKSHOP LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 53,725 5,846 59,571 40,465

Charitable activities
Performing income 260,750 - 260,750 300,914

Other trading activities 2 67,008 - 67,008 77,289
Investment income 3 945 - 945 308
Total 382,428 5,846 388,274 418,976

EXPENDITURE ON
Raising funds 12,471 - 12,471 10,984

Charitable activities
Production expenses 295,982 8,765 304,747 326,679
Touring expenses 15,536 245 15,781 23,104
Administration 6,988 4,826 11,814 13,293
Overheads 54,584 74 54,658 50,584

Other 4 1,130 - 1,130 1,330
Total 386,691 13,910 400,601 425,974

NET INCOME/(EXPENDITURE) (4,263 ) (8,064 ) (12,327 ) (6,998 )


RECONCILIATION OF FUNDS
Total funds brought forward 757,389 122,834 880,223 887,221

TOTAL FUNDS CARRIED FORWARD 753,126 114,770 867,896 880,223

BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

BALANCE SHEET
31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
funds fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 630,752 84,880 715,632 730,693

CURRENT ASSETS
Debtors 10 34,163 - 34,163 44,106
Cash at bank and in hand 100,451 29,890 130,341 135,920
134,614 29,890 164,504 180,026

CREDITORS
Amounts falling due within one year 11 (12,240 ) - (12,240 ) (30,496 )

NET CURRENT ASSETS 122,374 29,890 152,264 149,530

TOTAL ASSETS LESS CURRENT
LIABILITIES

753,126

114,770

867,896

880,223

NET ASSETS 753,126 114,770 867,896 880,223
FUNDS 12
Unrestricted funds:
General fund 160,494 154,123
Designated fund 592,632 603,266
753,126 757,389
Restricted funds 114,770 122,834
TOTAL FUNDS 867,896 880,223

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


BATH ARTS WORKSHOP LIMITED (REGISTERED NUMBER: 01114273)

BALANCE SHEET - continued
31 MARCH 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 6 November 2024 and were signed on its behalf by:





A P S Born - Trustee

BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Improvements to property - 2% on cost
Motor vehicles - 15% on reducing balance
Equipment - 25% on reducing balance

Freehold property is to be depreciated over 50 years, holding a residual value of £200,000.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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

The restricted fund represents funds received towards the capital building costs to be carried out to transform the premises into more practical workable areas, together with grants from the Arts Council and Bath and North Somerset Council specifically to maintain the artistic programme.

The designated fund consists of funds raised towards the purchase of freehold premises.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. OTHER TRADING ACTIVITIES
2024 2023
£    £   
Sundry income 67,008 77,289

3. INVESTMENT INCOME
2024 2023
£    £   
Bank interest received 945 308

4. OTHER
2024 2023
£    £   
Accountancy 630 830
Independent examination 500 500
1,130 1,330


5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 15,725 16,033

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


7. STAFF COSTS

Staff costs :
2024 2023
£ £
Salaries and performance fees 364,677 395,092
Social security costs 3,782 3,999

Total 368,459 399,091

The average weekly number of employees during the year,
including the services of performers who retained reserved
self-employed status, was 47 part time and 2 full time (2023 - 47 part time and 2 full time)

No employee received emoluments of more than £60,000 during the year.

BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

2024 2023
Administration 2 2
Performers 47 47
49 49

No employees received emoluments in excess of £60,000.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,179 38,286 40,465

Charitable activities
Performing income 300,914 - 300,914

Other trading activities 77,289 - 77,289
Investment income 308 - 308
Total 380,690 38,286 418,976

EXPENDITURE ON
Raising funds 10,984 - 10,984

Charitable activities
Production expenses 301,038 25,641 326,679
Touring expenses 21,435 1,669 23,104
Administration 6,002 7,291 13,293
Overheads 50,584 - 50,584

Other 1,330 - 1,330
Total 391,373 34,601 425,974

NET INCOME/(EXPENDITURE) (10,683 ) 3,685 (6,998 )


RECONCILIATION OF FUNDS
Total funds brought forward 768,072 119,149 887,221

TOTAL FUNDS CARRIED FORWARD 757,389 122,834 880,223


BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. TANGIBLE FIXED ASSETS
Improvements
Freehold to Motor
property property vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 650,000 234,908 25,321 123,245 1,033,474
Additions - - 664 - 664
At 31 March 2024 650,000 234,908 25,985 123,245 1,034,138
DEPRECIATION
At 1 April 2023 117,000 48,957 15,255 121,569 302,781
Charge for year 9,000 4,697 1,609 419 15,725
At 31 March 2024 126,000 53,654 16,864 121,988 318,506
NET BOOK VALUE
At 31 March 2024 524,000 181,254 9,121 1,257 715,632
At 31 March 2023 533,000 185,951 10,066 1,676 730,693

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,529 33,588
Other debtors 10,732 -
VAT - 1,196
Prepayments 6,902 9,322
34,163 44,106

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,041 11,903
Social security and other taxes 563 563
VAT 3,855 -
Other creditors 267 5,183
Accrued expenses 1,357 1,357
Deferred income 4,157 11,490
12,240 30,496


BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 154,123 6,371 160,494
Designated fund 603,266 (10,634 ) 592,632
757,389 (4,263 ) 753,126
Restricted funds
Restricted funds 122,834 (8,064 ) 114,770

TOTAL FUNDS 880,223 (12,327 ) 867,896

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 382,428 (376,057 ) 6,371
Designated fund - (10,634 ) (10,634 )
382,428 (386,691 ) (4,263 )
Restricted funds
Restricted funds 5,846 (13,910 ) (8,064 )

TOTAL FUNDS 388,274 (400,601 ) (12,327 )


Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 154,172 (49 ) 154,123
Designated fund 613,900 (10,634 ) 603,266
768,072 (10,683 ) 757,389
Restricted funds
Restricted funds 119,149 3,685 122,834

TOTAL FUNDS 887,221 (6,998 ) 880,223

BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 380,690 (380,739 ) (49 )
Designated fund - (10,634 ) (10,634 )
380,690 (391,373 ) (10,683 )
Restricted funds
Restricted funds 38,286 (34,601 ) 3,685

TOTAL FUNDS 418,976 (425,974 ) (6,998 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.22 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 154,172 6,322 160,494
Designated fund 613,900 (21,268 ) 592,632
768,072 (14,946 ) 753,126
Restricted funds
Restricted funds 119,149 (4,379 ) 114,770

TOTAL FUNDS 887,221 (19,325 ) 867,896

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 763,118 (756,796 ) 6,322
Designated fund - (21,268 ) (21,268 )
763,118 (778,064 ) (14,946 )
Restricted funds
Restricted funds 44,132 (48,511 ) (4,379 )

TOTAL FUNDS 807,250 (826,575 ) (19,325 )


BATH ARTS WORKSHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.