REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
FOR
THE COURTYARD ARTS AND COMMUNITY CENTRE
Com
an
Number . 03044085
istered Charit Number .1044469

THE COURTYARD ARTS AND COMMUNITY CENTRE
INDEX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Company information
Report of the Trustees
Independent Examiners Report
statement of Financial Activities
Balance Sheet
10
Notes to the Financial Statements

THE COURTYARD ARTS AND COMMUNITY CENTRE
COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024
TRUSTEESIDIRECTORS .
Mr M. A. Robinson
Mrs S.J. Pickup
Mr J.A. Clark
Mrs B.J. Hopkin
MrBCox
Ms A Fuller
Mrs D.M. Carolan
Mr P Morris
SECRETARY:
Mr M. A. Robinson
REGISTERED OFFICE:
The Stables
Port Vale
Hertford
Hertfordshire
SG14 3AA
REGISTERED NUMBER:
03044085 (England and Wales)
CHARITY NUMBER:
1044469
CHARITY WEBSITE:
www.courtyardarts.org.uk
INDEPENDENT EXAMINER:
R.J. Sears FCCA
Hentons
Stag House
Old London Road
Hertford, Herts
SG13 7LA
BANKERS:
HSBC Bank plc
Howardsgate
Welwyn Garden City
Herts.
AL6 6BH

THE COURTYARD ARTS AND COMMUNITY CENTRE
REPORT OF THE TRUSTEES
For the
oses of art 8 of the Charities Act 2011 and Directors, Re
417 of the Com
anies Act 2006
ort for the
oses of section
FOR THE YEAR ENDED 315t MARCH 2024
The Trustees present their annual report and financial statements for the year ended 31
March 2024. The financial statements have been prepared in accordance with the
accounting policies set out in the notes to the financial statements and comply with the
Charity's Act 2011, the Companies Act 2006, the Memorandum and Articles of Association,
and the 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) issued in October 2019.
st
PRINCIPAL ACTIVITY
The principal activity of the charitable company as stated in the Memorandum and Articles
of Association is the provision, in the interests of social welfare, of the facilities for the study,
appreciation of the arts for the inhabitants of Hertford and the surrounding area and the
advancement of the education of the general public in the arts.
The Trustees, who are also directors of the company, and acted throughout the period,
except where indicated, are..
Mr M. A. Robinson
Mrs S.J. Pickup
Mr J.A. Clark
Mrs B.J. Hopkin
MrBCox
Ms A Fuller
Mrs D.M. Carolan
Mr P Morris (Appointed 12 November 2024)
CONSTITUTION
The Courtyard Arts and Community Centre, company number 3044085, is a company
limited by the guarantees of its members to a maximum of £10 each.
COMPANY INFORMATION
The company is a registered charity, number 1044469, and as such is a non-profit making
organisation with solely charitable objectives. The company gained charitable status on 21°
August 1995.

THE COURTYARD ARTS AND COMMUNITY CENTRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 315t MARCH 2024
CONTINUED
FINANCIAL ACTIVITIES
During the year the charity's total income increased to £150,556 (2023.. £131,076). The
level of expenditure in the year increased to £154,679 (2023: £125,523). Overall, the
charity recorded a net deficit of £4,123 (2023.. surplus £5,553). This 2023124 deficit was
after charging depreciation. Excluding depreciation, there was a surplus in 2023124 of
£4,909.
The principal sources of funding for the charity are income from studio rents, rent and
sales from exhibitions, charges for classes and grants received towards specific
educational projects.
ACHIEVEMENTS AND PERFORMANCE
Classes and workshops
Classes have continued to be highly popular with both adults and children. Most are full,
with some classes having people on a waiting list who were able to fill any available
spaces straight away. Particularly popular areas are ceramics, acrylic and watercolour
painting. We continue to run our home school class, which is a valuable resource to
those parents who are homeschooling in our community. Also, we ran Life Drawing and
printmaking day workshops
Gallery
We have been able to deliver a full programme of diverse exhibitions in both our Main
Gallery and Stables Gallery, this year. Our Courtyard Open was once again very well
received with a varied and interesting selection of work exhibited. We were delighted to
welcome Maddy Durbin as our Artist in Residence this year.
Events
Due to the Town Council stepping away from the Hertford Art Trail, Courtyard Arts took
over the running of the entire event. It was a huge success, despite having very little
time to organise it. We engaged with over 30 venues, some of which had never taken
part before and paired them all with local artists. It's importance of bringing people to the
venues, is supported by the reports of local businesses noticing the increased footfall
and increased sales it also brings. Artists were able to exhibit their work with feedback
from them as very positive. Our first Members, Project also coincided with the Art Trail.
We also partnered with Hertford East Train Station and ran a couple of pop-up printing
sessions.

THE COURTYARD ARTS AND COMMUNITY CENTRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31" MARCH 2023
CONTINUED
ACHIEVEMENTS AND PERFORMANCE- continued
We were once again asked to assist Helen Fleming and The Friends of Bengeo in their
Children's Art Day for the Church of St. Leonard's. We ran air clay model making and
printmaking as activities, which were met with great enthusiasm by the children.
We once again won an award in this years, Hertford in Bloom Competition, taking first
Prize in the Best Shop or Business Category.
RESERVES
It is the policy of the charity to maintain unrestricted funds, which are the free
reserves of the charity, at a level which enables the charity to meet its
management and administration costs as they fall due. The Trustees have
assessed the level of net current assets required in the form of unrestricted
funds to be £10,000. They have therefore set up a Development Fund to hold
the balance of the net current assets, amounting £28,467 at 31 March 2024
(2023.. £23,558). The charity also holds a legacy of £10,000 received during
2022 which is included in designated funds as a Legacy Fund.
RISK MANAGEMENT
The trustees are aware of the requirements under SORP 2005 to identify and
mitigate major risks faced by the organisation and are adopting appropriate
policies to reduce exposure to those risks.
ASSETS AND OBLIGATIONS
The net assets of the company are available and adequate to fulfil its
obligations.
INVESTMENT POWERS
Under the memorandum and articles of association, the charity has the power to
make any investments, which the trustees see fit

THE COURTYARD ARTS AND COMMUNITY CENTRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31st MARCH 2024
CONTINUED
ORGANISATION
The board of trustees, which can have up to 8 members, administers the charity. The
board meet monthly and individual trustees are responsible for specific areas i.e.
Finance. Development, Marketing and Education. The managementladministration team
includes the Centre Director and Assistant Director, plus 15 tutors and 45 Volunteers
who assist in the day to day operation of the Centre.
APPOINTMENT OF TRUSTEES
The board has established procedures for recruiting and appointing board members,
including the initial identification of potential candidates, informal visits or discussions,
consideration by the board and finally election by a majority of votes.
TRUSTEE INDUCTION AND TRAINING
New trustees undergo induction to brief them on their legal obligations under charity and
company law, the content of the Memorandum and Articles of Association and the
committee and decision making process.
PUBLIC BENEFIT
In planning the charity's activities for the year the trustees have been mindful of the
Charity Commission's guidance on public benefit. In particular, the charity welcomes all
people to participate in its activities regardless of personal background, faith, gender or
personal circumstances. This includes Outreach in schools, care homes and other
settings as well as classes at the centre for specific groups.
POLICIES
All necessary policies (including those required by law) are in place and reviewed at
least annually.
PLANS FOR FUTURE PERIODS
The charity continues to invest in improvements to its facilities and the trustees are
considering a number of further development opportunities, including a major expansion
of the existing premises. To date, £32,515 has been expended on professional fees and
other charges relating to this possible expansion. Planning permission has been obtained,
detailed specifications have been prepared and tenders have been received, £26,595 was
spent on a new boiler, kitchen and other improvements which form part of the planned
development.

THE COURTYARD ARTS AND COMMUNITY CENTRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31" MARCH 2024
CONTINUED
TRUSTEES RESPONSIBILITIES
The trustees (who are also directors of The Courtyard Arts & Community Centre for the
purposes of company law) are responsible for preparing the Trustees, Annual Report and
the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted AccoLEnting Practice
Company law 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 charitable company and of the
incoming resources and application of resources, including the income and expenditure,
of the charitable company for that period. In preparing these financial statements, the
trustees are required to:
> select suitable accounting policies and then apply them consistently.,
> observe the methods and principles in the Charities SORP.,
make judgments and accounting estimates that are reasonable and prudent.
> state whether applicable UK Accounting Standards have been followed, subject to
any material departures disclosed and explained in the financial statements- and
> prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the charitable company will continue to operate.
The trustees are responsible for keeping adequate accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and
enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and
hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD..
l Q. IT_￿4-
Date
Mr M. A. Robinson - SECRETARY

THE COURTYARD ARTS AND COMMUNITY CENTRE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE COURTYARD ARTS AND COMMUNITY CENTRE
I report to the trustees (who are also Directors for the purpose of company law) on my
examination of the financial statements of The Courtyard Arts and Community Centre
st
('the charitable company,) for the year ended 31 March 2024 which comprise the
statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity's trustees, as a body, in accordance with section
145 of the Charities Act 2011. My work has been undertaken so that I might state to the
charity's trustees those matters l am required to state to them in this report and for no
other purpose. To the fullest extent permitted by law, I do not accept or assume
responsibility to anyone other than the charity and the charity's trustees as a body, for
my work. for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of charitable company you are responsible for the preparation of the
financial statements in accordance with the requirements of the Companies Act 2006 ('the
2006 Act,).
Having satisfied myself that the financial statements of the charitable company are not
required to be audited under Part 16 of the Act and are eligible for independent
examination, I report in respect of my examination of the charitable company's financial
statements carried out under section 145 of the Charities Act 2011 ('the 2011 Act.) and in
carrying out my examination I have followed all the applicable Directions given by the
Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be
required in an audit and consequently does not cover all the matters that an auditor
considers in giving their opinion on the financial statements. The planning and conduct of
an audit goes beyond the limited assurance that an independent examination can provide.
Consequently, l express no opinion as to whether the financial statements present a 'true
and fair. view and my report is limited to those specific matters set out in the independent
examiner's statement.

THE COURTYARD ARTS AND COMMUNITY CENTRE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE COURTYARD ARTS AND COMMUNITY CENTRE
CONTINUED
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my
attention in connection with the examination giving me cause to believe that in any material
respect..
> accounting records were not kept in respect of the charitable company as required
by section 386 of the 2006 Act", or
> the financial statements do not accord with those records., or
> the financial statements do not comply with the accounting requirements of section
396 of the 2006 Act other than any requirement that the financial statements give
a 'true and fair view which is not a matter considered as part of an independent
examination. or
> the financial statements 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 financial statements to be reached.
R.J. Sears FCCA
Hentons
Chartered Accountants
Stag House
Old London Road
Hertford. Herts
SG13 7LA
Date..

THE COURTYARD ARTS AND COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
oratin
the Income and Ex
enditure account
Incor
FOR THE YEAR ENDED 31st MARCH 2024
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total
Funds
2024
Total
Funds
2023
INCOME
Notes
Incon7e from charitable activities..
Operation ofArls and Community
centre..
Studio Income
Gallery Income
120,239
20,344
120,239
20,344
108,463
12,490
Fundraising (net)
7,737
7,737
7,193
Grants and donations..
Investment income..
Bank interest received..
Total income
1,298
250
1,548
2,835
688
150,306
688
150,556
95
131,076
250
EXPENDITURE
Expenditure on charitable
activities.-
Operation of Arts and Community
Centre..
Total expenditure
250
154,429
154,679
125,523
154,429
250
154,679
125,523
Net income for the year
{4,123)
{4,1231
5,553
Gross transfers between funds
(4,520)
4,909
(389)
Net movement in funds
(8,643)
4,909
(389)
(4,123)
5,553
Reconciliation of funds:
Balances brought forward 1 April
2023
65,925
33,558
389
99,872
94,319
Balances carried forward
as at 31 March 2024
57,282
38,467
95,749
99,872
None of the company's activities were acquired or discontinued during the current or previous year.
There are no recognised gains or losses other than the profit or loss that has been presented and deall
with in the statement of financial activities.

THE COURTYARD ARTS AND COMMUNITY CENTRE
Com
an
number 3044085 Re
istered charit
number 1044469
BALANCE SHEET
AS AT 31" MARCH 2024
2024
2023
Notes
FIXED ASSETS
Tangible assets
47,282
56,314
CURRENT ASSETS
Debtors
Cash at bank and in hand
10,825
72,641
83,466
8,909
82,006
90,915
CREDITORS Amounts falling
due within one year
10
34,999
47,357
NET CURRENT ASSETS
48,467
43,558
TOTAL ASSETS LESS CURRENT LIABILITIES
95,749
99,872
RESERVES
Unrestricted funds
Designated Fund
Restricted funds
TOTAL CHARITY FUNDS
57,282
38,467
65,925
33,558
389
99,872
14
95,749
la) For the year ended 31 March 2024, the Gompany was entitled to exemption under
section 477 of the Companies Act 2006 relating to small companies.
Ib) Members have not required the company to obtain an audit in accordance with section
476.
(c) The directors acknowledge their responsibility for ensuring that the company keeps
accounting records which comply with Sections 386 and 387 of the Companies Act
2006 and preparing financial statements which give a true and fair view of the state of
affairs of the company as at the end of each financial year and of its profit or loss for
each financial year in accordance with SeGlions 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 company.
ON BEHALF OF THE BOARD
Ms S Pickup -Trustee
Mr M Robinson - Trustee
10

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st MARCH 2024
1. ACCOUNTSNG POLICIES
Basis of preparation and assessment of going concern
The financial statements are prepared under the historical cost convention and are 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) (issued in
October 2019) - (Charities SORP (FRS 102)}, the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 102} and the Companies Act 2006. The charity
constitutes a public charity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Charity's ability to
continue as a going concern.
No significant judgements have had to be made by management in preparing these financial
statements.
Debtors
Trade and other debtors are recognised at the seltlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments that are
readily convertible to known amounts of cash and are subject to an insignificant risk to changes in
value.
Creditors and provisions
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 lo 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 any trade discounts due.
Financial instruments
The Charitable Company only has financial assets and financial liabilities of a kind that qualify as
basic financial instruments. Basic financial instruments are initially recognised at transaction
value and subsequently measured at their settlement value.

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31¥t MARCH 2024
1. ACCOUNTING POLICIES- continued
Expenditure and Irrecoverable VAT
Expenditure is recognised once there is a legal or GonstruGtive obligation to make a payment to a
third party, it is probable that settlement will be required and the amount of the loan can be
measured reliably. Expenditure on charitable activities include expenditure associated with art
exhibitions and educational programs and their associaled support costs.
All resources expended are classified under activity headings that aggregate all costs related to
the category. Irrecoverable VAT is charged against the category of resources expended for which
it was inGurred.
Tangible fixed assets
Individual fixed assets costing £250 or more are capitalised al cost. Any asset acquired for a value
of less than £250 will be written off as expenditure in the period in which the expenditure was
incurred.
Depreciation is provided, but not in the year of addition, at the following annual rates in order to
write off each asset over its estimated useful life.
Fixtures, fittings & equipment
-10 % or 250/0 on cost
Premises improvements
-5 % on cost.
Where improvements have been financed wholly or partly by grants received the net book value
of these improvements should be reduced by the amount of the grant receivable. Leasehold
improvements are shown in the Balance sheet net of Building grants received. The landlord
IEHDCI have agreed in principle to a new 40 year lease which will be finalised once the proposed
new development Is underway. Existing leasehold improvements are now being written off over
20 years in line with their expected useful economic life.
Limlted by guarantee
The company is limited without share capital. In the event of the company being wound up, eaGh
member is liable to contribute to the payment of debts and liabilities of the company as may be
required, not exceeding £10.
Operating leases
The charity classifies the lease of its property as an operating lease and the title to the property
remains with the lessor. Rental payments under operating leases are charged as expenditure as
incurred over the term of the lease.
Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake
charitable activities.
12

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st MARCH 2024
1 ACCOUNTING POLICIES- continued
Fund Accounting
Funds held by the charity are either..
Unrestricted general funds- These are funds, which can be used in accordance with the charitable
objectives at the discretion of the Trustees. The Trustees have now set up a Development Fund
within the unrestricted general funds.
Designaled funds
purposes.
These are unrestricted funds earmarked by the Trustees for particular
Restricted funds- These are funds which 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 a particular reslricted purpose.
Income recognition
Income is recognised when the charity has entitlement to the funds, any performance conditions
attached to the items of income have been met, it is probable that the income will be received
and the amount can be measured reliably.
Income from governmenl and other grants, whelher'capilal, grants or revenue grants, is
recognised when the charity has entitlement to the funds, any performance conditions attached lo
the grants have been met, it is probable that the income will be received and the amount can be
measured reliably and is not deferred.
Income received in advance for art classes or provision of other specified service is deferred unlil
the conditions for income recognition are met.
Pension costs
The charity operates a defined contribution pension scheme. Contributions payable to the
pension scheme are charged to the Statement of Financial Activities in the period to which they
relate.
13

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st MARCH 2024
2. CHANGE IN ACCOUNTING POLICY
In the current year, the following new and revised Standards and Interpretations have been adopted
by the Company and have an effect on the current period and will have an effect on future periods:
2024
2023
Premises improvements
5% on cost
2.50h on cost
If the previous years rates were applied in the current year, the nel book value as at 31sI March
2024 would have been £50,486 and the depreciation charge to the profit and loss account would
have been £1,385.
If the updated rates were applied last year, the net book value as at 31sI March 2023 would have
been £48,326 and the deprecialion charge to the profit and loss account would have been £2,770.
The reason for this change is for the policy to reflect a more accurate useful economic life of the
asset.
3. SOURCES OF MATERIAL GRANTS AND DONATIONS
Unrestricted
Funds
Restricted
Funds
2024
2023
HCC Locality Budget
Hertford Art Society
Other donations
480
300
2,055
2,835
250
250
1,298
1,548
1,298
1,298
250
14

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st MARCH 2024
4. EXPENDITURE ON CHARITABLE ACTIVITIES
Operation of Arts and
Community Centre..
2024
2023
Costs directly allocated to
activities
Artists sales and materials
Tutor fees
Project Costs
Insurance
Depreciation
14,468
53,881
250
1,776
9,032
12,012
47,213
780
2,431
3,523
Governance costs
Administration costs
Independent examiners fees
500
4,230
500
3,800
Support costs allocated to
activities
Rent
Rates
Light and heal
Cleaning
Repairs and renewals,
Postage, printing, stationery and
marketing
Telephone & internet
Administration costs
Refuse collection
5,100
1,108
3,933
1,507
5,476
5,000
1,155
3,537
1,450
2,478
9,574
7,171
3,666
2,088
39,247
31,838
931
567
154,679
125,523
The total amount of support costs incurred in the period relating to the operation of the Arts and
Community Centre amounted to £70,542 (2023.. £55,264) and for governance costs were £4,730
(2023.. £4,300}.
5. OPERATING SURPLUS
2024
2023
The operating surplus is stated after charging=
Depreciation
owned assets
Independent examiners fees
Rentals payable under operating leases
9,032
4,230
5,100
3,523
3,800
5,000
15

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31" MARCH 2024
6. TAXATION
No liability to U K corporation tax arose on ordinary activities for the year ended 31 sl March 2024
nor for the preceding year ended 31sI March 2023.
The company has a charitable slatus which exempts it from corporation tax on the income it
has received and the company is not registered for VAT purposes.
7. STAFF COSTS
The Costs of employing staff which are included within Charitable activities in Note 3 were=
2024
2023
Wages and salaries
Pension contributions
55,666
1,634
57,300
48,680
1,480
The average monthly number of employees during the year for administration and tutor fees
was 7 lin 2023 there were 71. No employee's emoluments exceeded £60,000 during the year.
8. TANGIBLE FIXED ASSETS
Short Leasehold
property &
improvements
Fixtures,
fittings &
equipment
Total
Cost
At 1 st April 2023
Additions
At 31SI March 2024
55,416
37,108
92,524
55,416
37,108
92,524
Depreciation
At 1st April 2023
Charge for year
At 31st March 2024
3,545
6,319
9,864
32,665
2,713
35,378
36,210
9,032
45,242
Net Book Values
At 31sI March 2024
45,552
1,730
47,282
At 31sI March 2023
51,871
4,443
56,314
The original cost of the leasehold improvements amounted to £78,821 and a Building
grant of £50,000 was received against these costs.
16

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31" MARCH 2024
DEBTORS
2024
2023
Other debtors
10,826
10,826
8,909
8,909
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Deferred income (Note 10)
Trade creditors
Other taxes and soGial security costs
Accruals
20,772
7,121
2,247
4,859
34,999
28,890
8,888
1,533
8,046
47,357
11. DEFERRED INCOME
2024
2023
At 1 April 2023
Amount released to incoming resources
Amount deferred in the year
At 31 March 2024
28,890
(28,890)
20,772
20,772
18,209
(18,209)
28,890
28,890
Deferred income re5ates to income received for class fees and grants in advance.
12. ULTIMATE CONTROLLING PARTY
The company has no ultimate controlling party during the current or preceding year.
13. RELATED PARTY TRANSACTIONS
During the year, no truslee reGeived tutor fees (2023.. no trustee). No
trustees received reimbursement of incidental expenses (2023.. no trustee).
17

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 315t MARCH 2024
14. ANALYSIS OF DESIGNATED FUNDS
Balance at
0110412023
Incoming
Resources
Utilisedl
Released
Balance at
3110312024
Development Fund
Legacy Fund
23,558
10,000
33,558
4,909
28,467
10,000
38,467
4,909
ANALYSIS OF DESIGNATED FUNDS - PREVIOUS YEAR
Balance at
0110412022
Incoming
Resources
Utilisedl
Released
Balance at
3110312023
Development Fund
Legacy Fund
16,791
10,000
26,791
6,767
23,558
10,000
33,558
6,767
The Development Fund was set up by the Trustees in 2011 to build a fund which can be utilised in
future years on opportunities identified by Trustees to expand the charity.
The Legacy Fund relates to a £10,000 legacy received in 2022. The Trustees intend to ensure that
this sum is spent specifically to enhance and develop the operation of the Centre
15. ANALYSIS OF MOVEMENT IN RESTRICTED FUNDS
Movement in funds
Incoming
utilisedl
Resources
Released
Balance at
0110412023
Balance at
3110312024
Kiln fund
Outreach Fund
389
(389}
(250)
(639)
250
250
389
ANALYSIS OF MOVEMENT IN RESTRICTED FUNDS- PREVIOUS YEAR
Movement in funds
Incoming
utilisedl
Resources
Released
Balance at
0110412022
Balance at
3110312023
Kiln fund
Outreach Fund
778
(389}
(780)
(1,169)
389
780
780
778
389
18

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31" MARCH 2024
15. ANALYSIS OF MOVEMENT IN RESTRICTED FUNDS - continued
The Outreach Fund relates to project work undertaken and completed by the charity during the
year.
As at 31 $1 March 2024 the following restricted funds had been fully utilised..
Kiln Fund
In a previous year grants and donations were received as a contribution towards the cost of a
new kiln and the remaining balance of £389 has been offset against the remaining depreciation in
the year.
The capital element of grants received will be released to the unrestricted general funds over a
time period in line with the depreciation policy of the assets which have been capitalised and will
be included within the transfer between funds.
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible
Fixed
Assets
Net
Current
Liabilities
Cash at
Bank
Total
Restricted Funds
Development Fund
Unrestricted Funds
38,467
34,174
72,641
38,467
57,282
95,749
47,281
47,281
(24,173}
(24,173)
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PREVIOUS YEAR
Tangible
Fixed
Assets
Net
Current
Liabilities
Cash at
Bank
Total
Restricted Funds
Development Fund
Unrestricted Funds
389
389
33,558
65,925
99,872
33,558
48,448
82,006
55,925
56,314
(38,448)
(38,448)
19

THE COURTYARD ARTS AND COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 315t MARCH 2024
17. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total
Funds
2023
Total
Funds
2022
INCOME
Income from charitable activilies..
Operation ofArls and Community
centre..
Studio Income
Gallery Income
108,463
12,490
108,463
12,490
111,389
7.181
Fundraising (net)
7,193
7,193
8,573
Grants and donations..
Investment income..
Bank interest received..
Total income
2,055
780
2,835
31,953
95
130,296
95
131,076
780
159,099
EXPENDITURE
Expenditure on charitable
activities..
Operation ofArts and Community
Centre-.
Total expenditure
124,743
780
125,523
120,279
124,743
780
125,523
120,279
Net expenditure for the year
5,553
5,553
38,820
Gross transfers between funds
{6,378)
6,767
(389)
Net movement in funds
1825)
6,767
(389)
5,553
38,820
Reconciliation of funds:
Balances brought fotward 1 April
2022
778
66,750
26,791
94,319
55,499
Balances carried forward
as at 31 March 2023
65,925
33,558
389
99,872
94,319
20