REGISTERED COMPANY NUMBER: 02710441 REGISTERED CHARITY NUMBER: 1011108
MID BORDER COMMUNITY ARTS LTD.
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025
Mid Border Community Arts Ltd.
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 10 |
| Detailed Statement of Financial Activities | 11 |
Mid Border Community Arts Ltd.
Report of the Trustees for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 2015).
OBJECTIVES AND ACTIVITIES
Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 28 April 1992 and registered with the Charity Commission on 15 May 1992.
Policies and objectives
The principal objectives of the charity are to promote, maintain, improve and advance education by the encouragement of the arts, including the arts of drama, mime, dance, singing, music and the visual arts.
Method of appointment or election of trustees
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.
Public benefit
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.
ACHIEVEMENT AND PERFORMANCE
Major activities and achievements
Mid Border Community Arts (MBA) was established as a limited company with charitable status in 1992 and has provided a varied programme of music, film and theatre since that date as well as offering a venue for a range of community activities and workshops.
2024-25 was the third year with Owen Rimington in post as arts co-ordinator. Many thanks to Owen for organising and running 15 successful events during the financial year, This was Owen’s final season as arts co-ordinator. We were lucky enough to take on Julia Doggart as our community outreach person from the grant we received from The Heritage Lottery Community Fund last year and she has stepped in as an administrator after Owen’s departure. We would also like to thank the volunteers who help to run the events, running the bar, the door, and the event set-ups and also entertain the performers, all of which enable us to run the very successful events throughout the year.
The grant situation has continued to be uncertain this year. We are currently working on a re-submission after the Awards for All grant we applied for in May was unsuccessful. They have given us guidance so we hope to be successful on our second attempt. The funding from fundraising, room hire and events has enabled MBA to continue to function along with continuing without the role of Arts Coordinator and therefor limiting our outgoings. The funds continue to diminish, as seen in the accounts and we are proactively pursuing funding through grants, fundraising and building our ‘Friends’ campaign to achieve a regular annual donation stream. We are also heavily reliant on voluntary help and are working to build up our volunteer base to make this sustainable. We hope to be able to fund a Duty Manager if our Awards for All grant is successful.
We were very pleased to receive a grant of £1500 from Presteigne and Norton Town Council this year. Mid Border Arts is extremely grateful to the community for its continued support of and interest in the organisation. We are gaining three new trustees this year and still seek an eighth trustee. We are looking for a treasurer as we have been without one for the last few of years and continue to actively seek financial guidance. We would like to thank Richard Studer who has been chair of the trustees this year, and has stepped down as both Chair and a trustee due to work commitments. We would also like to thank Cindy Watson and Colette Pitts who are stepping down as trustees after serving for many years.
Jenny Ellison, Vice Chair of trustees
Page 1
Mid Border Community Arts Ltd.
Report of the Trustees - continued for the Year Ended 31 March 2025
FINANCIAL REVIEW
Total income for the year was £46,231 (2024 : £38,725) of which £36,506 was unrestricted (2024: £38,725) and £9,725 was restricted (2024 £Nil).
Total funds carried forward at the year end were £19,941 (2024: £27,319) of which £7,754 was unrestricted (2024 £15,319) and £12,187 were restricted (2024: £12,000).
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Reserves policy
The trustees have reviewed the charity’s requirements for reserves. This is completed on an annual basis. The general reserves are required for working capital purposes. The general reserves stood at £7,754 at 31 March 2025 (2024: £15,319). The trustees believe that this is sufficient to enable the charity to continue its activities. The trustees believe that this level of reserves will support any unforeseen reduction in the income by the charity.
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Mid Border Community Arts Ltd.
Report of the Trustees - continued for the Year Ended 31 March 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered charity number 1011108
Registered office address
The Assembly Rooms Broad Street Presteigne Powys LD8 2AD
Trustees
H C Rimington N Griffin C Pitts - Co-Chair C Watson J Ellison - Co Chair R Studer - Chair A Glyn-Jones
The position of treasurer has been vacant for a few years with the responsibilities shared by all trustees.
Independent examiner
Sian Kelly FCMA Inform Accounting Limited St James House 65 Mere Green Road Sutton Coldfield West Midlands B75 5BY
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on
and signed on its behalf by:
J Ellison - Vice Chair
Page 3
Independent Examiner’s Report to the Trustees of Mid Border Community Arts Ltd.
We report on the accounts for the year ended 31 March 2025 set out on pages 5 to 11.
Respective responsibilities of trustees and examiner
The charity’s trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
Having satisfied ourselves that the charity is not subject to audit under company law and is eligible for independent examination, it is our responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to our attention.
Basis of the independent examiner’s report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. 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 seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statements below.
Independent examiner’s statement
In connection with our examination, no matter has come to our attention:
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(1) which gives us reasonable cause to believe that, in any material respect, the requirements ● to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and ● to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
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(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Sian Kelly FCMA Inform Accounting Limited St James House
65 Mere Green Road
Sutton Coldfield West Midlands B75 5BY
Page 4
Mid Border Community Arts Ltd.
Statement of Financial Activities for the Year Ended 31 March 2025
| Unrestricted funds Notes £ INCOME FROM Donations and legacies 2 622 Incoming resources from charitable activities 28,864 Grant income - Other income 7,020 Total 36,506 EXPENDITURE ON Charitable activities 3 Direct charitable expenditure 26,104 Donations - Other 17,967 Total 44,071 NET INCOME/(EXPENDITURE) (7,565) Transfers between funds Net movement in funds (7,565) RECONCILIATION OF FUNDS Total funds brought forward 15,319 TOTAL FUNDS CARRIED FORWARD 7,754 |
Restricted funds £ 9,725 9,725 - 9,538 9,538 187 187 12,000 12,187 |
2025 Total funds £ 622 28,864 9,725 7,020 46,231 26,104 - 27,505 53,609 (7,378) (7,378) 27,319 19,941 |
2024 Total funds £ 102 31,745 - 6,878 |
|---|---|---|---|
| 38,725 30,481 1,015 20,887 |
|||
| 52,383 | |||
| (13,658) - |
|||
| (13,658) 40,977 |
|||
| 27,319 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 5
Mid Border Community Arts Ltd.
Balance Sheet
At 31 March 2025
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 6 8,018 CURRENT ASSETS Debtors Stock 7 893 676 Cash at bank 1,822 3,391 CREDITORS Amounts falling due within one year 8 (3,655) NET CURRENT ASSETS (264) TOTAL ASSETS LESS CURRENT LIABILITIES 7,754 NET ASSETS 7,754 FUNDS 9 Unrestricted funds: General fund Restricted funds: None Ernie Kay Trust TOTAL FUNDS |
Restricted funds £ 12,305 12,305 (118) 12,187 12,187 12,187 |
2025 Total funds £ 8,018 893 676 14,127 15,696 (3,773) 11,923 19,941 19,941 7,754 6,187 6,000 19,941 |
2024 Total funds £ 12,071 1,363 18,008 |
|---|---|---|---|
| 19,371 (4,123) |
|||
| 15,248 | |||
| 27,319 | |||
| 27,319 | |||
| 15,319 6,000 6,000 |
|||
| 27,319 |
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees responsibilities
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on
and were signed on its behalf by:
H C Rimington - Trustee
J Ellison - Trustee
The notes form part of these financial statements
Page 6
continued...
Mid Border Community Arts Ltd.
Notes to the Financial Statements for the Year Ended 31 March 2025
1. ACCOUNTING POLICIES
Statutory information
Mid Border Community Arts Ltd. is a charitable company limited by guarantee and is incorporated in the United Kingdom (England and Wales). The registered office address is The Assembly Rooms, Broad Street, Presteigne, Powys, LD8 2AD.
Basis of preparing the financial statements
The financial statements of the charity, 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
Income is recognised once the charity has an entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably.
All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Other support costs are allocated based on the spread of staff costs.
Governance costs
These are the costs associated with the general running of the charity and its strategic management, rather than the costs of its charitable activities and day to day management.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Furniture and equipment 33% reducing balance Other tangible fixed asset 33% straight line Machinery 20% straight line
Fund accounting
Unrestricted income funds are general funds that are available for use at the trustee’s discretion in furtherance of the objectives of the charity.
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.
Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy/note.
Going concern
Based on the monetary assets and human resources available at 31 March 2025, the trustees believe that the charity is a going concern.
VAT
Since the charity is not VAT registered, all input VAT is charged with the expenses to which it refers.
Page 7
Mid Border Community Arts Ltd.
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
2. DONATIONS AND LEGACIES
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Donations and grants | 622 | 102 | ||
| 622 | 102 | |||
| 3. | CHARITABLE ACTIVITIES COSTS | |||
| 2025 | 2024 | |||
| Funding | Totals | |||
| of activities | ||||
| £ | £ | |||
| Direct charitable expenditure | 26,104 | 30,481 | ||
| Donations | - | 1,015 | ||
| Other | 27,505 | 20,887 | ||
| 53,609 | 52,383 | |||
| 4. | SUPPORT COSTS | |||
| Governance | ||||
| Management | costs | Totals | ||
| £ | £ | £ | ||
| Other resources expended | 25,220 | 2,285 | 27,505 | |
| Support costs, included in the above, are as follows: | ||||
| 2025 | 2024 | |||
| Other | ||||
| resources | ||||
| expended | Total activities | |||
| £ | £ | |||
| Administrator fees | 80 | - | ||
| Premises running costs | 6,600 | 8,457 | ||
| Repairs, renewals and maintenance | 237 | 971 | ||
| Computer running costs | 417 | 167 | ||
| Printing and stationery | 701 | 1,153 | ||
| Advertising and marketing | 2,100 | 2,552 | ||
| Subscriptions | 626 | 385 | ||
| Sundry expenses | 270 | 558 | ||
| Telephone | 598 | 541 | ||
| Accountancy | 1,085 | 987 | ||
| Legal and professional fees | 1,200 | 1,071 | ||
| Depreciation | 4,053 | 4,045 | ||
| Restricted expenditure | 9,538 | |||
| 27,505 | 20,887 |
Page 8
Mid Border Community Arts Ltd.
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
5. TRUSTEES' REMUNERATION AND BENEFITS
During the year ended 31 March 2025 there were trustee expenses related to the grant funded project (2024: Nil).
6. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 April 2024 Additions At 31 March 2025 DEPRECIATION At 1 April 2023 Provided during the year At 31 March 2024 NET BOOK VALUE At 31 March 2025 At 31 March 2024 DEBTORS Prepayments Accrued income |
2025 £ 833 60 893 |
Total £ 45,167 |
|
|---|---|---|---|
| 45,167 | |||
| 33,096 4,053 |
|||
| 37,149 | |||
| 8,018 | |||
| 12,071 | |||
| 2024 £ 692 671 1,363 |
7. DEBTORS
Page 9
Mid Border Community Arts Ltd.
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accruals 9. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds None Ernie Kay Trust TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Restricted funds TOTAL FUNDS |
2025 2024 £ £ 3,773 4,123 At 1.04.24 Net movement in funds Transfers between funds At 31.03.25 £ £ £ £ 15,319 (7,565) 7,754 6,000 6,000 187 6,187 6,000 27,319 (7,378) 19,941 as follows: Incoming resources Resources expended Gains and losses Movement in funds £ £ £ £ 36,506 (44,071) - (7,565) 9,725 (9,538) 187 46,231 (53,609) (7,378) |
|---|---|
| as r |
10. CONTINGENT LIABILITIES
As at 31 March 2025 there were no contingent liabilities (2024: Nil).
Page 10
Mid Border Community Arts Ltd.
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| INCOME AND ENDOWMENTS Donations and legacies Incoming resources from charitable activities Other income Grant Income - restricted Total incoming resources EXPENDITURE Charitable activities Direct charitable expenditure Raising funds Donations Support costs Administrator fees Rent Insurance Light, heat and power Cleaning Travelling expenses Repairs, renewals and maintenance Computer running costs Printing and stationery Advertising and marketing Subscriptions Sundry expenses Depreciation Telephone Restricted funds spending Governance costs Accountancy Legal and professional fees Total resources expended Net income/(expenditure) |
2025 £ 622 28,864 7,020 9,725 46,231 26,104 - 80 1,706 1,287 1,842 1,765 - 237 417 701 2,100 626 271 4,053 598 9,537 25,220 1,085 1,200 27,505 (7,378) |
2024 £ 1,365 31,335 6,878 - 38,725 30,481 1,015 - 2,275 1,071 3,277 1,834 165 971 167 1,153 2,552 385 393 4,045 541 - 18,829 987 1,071 20,887 (13,658) |
|---|---|---|
This page does not form part of the statutory financial statements
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