Cornpany registration nutnber. 03358765 Clwity registration number.. 1062630 The Rising Sun Arts Centre Ltd (A company limited by 8uaraDtee) AwlU R¢port atsd Finullcial Statement8 the Year Elld&l 30 April 2023 David JoDe5 & Co 2018 LitDited The Centre Reading Road Ev¢r51ey Centre HampshAr¢ RG27 ONB
The Rfisfing Arts Centre Ltd Contents Rcftr¢nGv and Administrativr Dctails Trust¢e$'Report 2to5 Ind¢pendeot ExamineI5 Rep)rt Sl*mellt of Financial Ac¢iviti¢5 7t08 Balanee Sheet Trte8 to tbe Financi41 Statements 1010 19
The Rising Sun Arts Centre Ltd Reference and Adminirytrative Details Senlor ManaEemelltl IAdership Larry Watson TeAm Ch&rltyR¢glstratlon Nurnbgr 1062630 CompAny Rwstration Nurnber 03358765 The ¢baTity i8 Inwryorated in Englaud. 30 Silver StrEct Reading Berkshtre RGI 2ST R•gistered Office Jnd¢p¢ndent Kx•rniDcr David Jgne$ & Co 2018 Lio)ited The Centre Reading lioad Eversley Centrc RG27 ONB Page I
Tbe Rising Sun Arts Centre Ltd Trustees, Report The Irustees. who directors for tht purposcg of COTnpany law, preseDt the allnual report tO8cthcr with the financial statements a[ aLtors, rewrt of the cbarilabl¢ company for the year ended 30 April 2023. Objectives aod activitiES Objects ondaims The Rising Swi Arts Centr6 is a community arts facility whose ain]s aDd objectives &5 laid out the Articles of Association are 'to provide facilities for so¢iai w¢lfare. re¢reation and leisure-tinK to the inhabitants of Reading (regardles$ of g¢nd¢r. sexual ori¢t)latioD. rdce or politiGal ur r¢ligiou5 0pillioD5) wTrth the objECtivr of in]proving the qUlty of lifr for these itibabitattts,. The RisiDg Sun'5 mi$5iOO is to create avibrdnl inclusiY¢ spac¢ where creetivity flourishes. Our values ar¢ PaTtlG1patio Creativity and Knowledge. The vision of the Centre is: . To 5UPWrt a collJttLullity of PEople aud groups brought tosetheT by a shaT¢d belief ill the abi]ity of the arts to ¢r¢aic an incknivc cultyre. b To develop & conmiLmity built around creativity in a 8pa¢e owjd )d by the people who use it. Page 2
The Ri¥ing Sun Arts Centre Ltd Truytees, R¢port Objeellves. J¢Mle8kn dndacllvltles Th¢ C¢nttt conti1ll$ to work witb a widE range of cotDmuDiti¢5 and ¢reativ¢ organi8ation5 to achi¢ve its aim of enabling p¢oplc all backgrounds to participate sctive]y in th¢ arts. This y¢ar we have brougb¢ additlDttNI skills alld to our board with new ttustees who have experience of wotking in participatory fields at managing community space&. We ¢ODtinu¢ to widen the scope ofour COllllbWLity activiti¢s al rontinuB to grow our volunteer team. Involvement in the C¢ntre has steadity and we foTes¢e a continued development of people fft)initig u8 volunt¢¢rs. W¢ work with a widc range of ¢4mllllutiity group5 creative individL28. Creative organisations alld groups conttnue to work with as partners in projects OT to we the Ccntre's facilittes. W¢ bave estsbls5h¢d a strong r¢lationshrp with Reoding Refigee Support Group and sup1 refugees #nd asylum s¢¢k¢rs In a vari¢ty of Wdys.. nmnillg dre55ll1 5eS5ioDs for rrfvsee8 and IxoldiDg exbibitions of atbvork by refugee artists. We have welcomed a nLunbBr of refugces as voluntecrs. Our rclationshlp MTrtb Double Ok, a que¢r and trdDS arts collective, has led to all increas¢ of events run by and for tbe LGBTQF comnLunRty from a variety of orgpnisatiot]s. We haye givell ac¢¢ss to the C¢ntre to youug people to run their own nigbt alld hav¢ supported to rull EVts. a5 part of th¢ Centre'5 core prograne includiDg an event for Black History Month. We contÈnue to work with the Older People5 Coll]Mty Champions Team, with Real Time Video 2nd Open Mind. Hnd SUFPOrt VI number of iDitiatives by peopl¢ with learning disabilities. Our one day festival. Here Come5 Th¢ Sw vns a gre 5u¢ce5S. We have developed new volunteer t¢gJns. most notably a social tnedia and a new visuat arts tearn. Other teams are continuing to attract membeTh aNd grow in 5frength. Ow meetings of everyone are looking at howwe expalld the participative nAtllre of the Centre and how w¢ hand in¢tt&s¢d ow#¢rship to volunt¢Brs. Th¢ Centre completed its fea$l111ty study which vms funded by the Guild Project and whith looked at the cage for d¢v6loping thB Centre's work through increased wnununity ¢ngagem¢nt and development of the building and site at 30 Silver Strect to piovidc mor6 space and facilitics for the arts. The feasibilily study suggested ibat increased space foT visual arLs and better acttss w¢r¢ two clear areas of need. One of the aims of the frasibitity study was to rth¢¢ ow ¢arknn ftyrint and this will be amajor al going forwaThL The 1bilIty study will eDable us to engage with investment orgaDi8ations to dev¢lop support for th¢ olganisation's k)ng tern developnwiL The Rising Sun wlltitiucs to develop tts work to enswe a5 people as p055ible are th1¢ to access the arts and ¢ulture in Reftding and eolltinue5 to develop its Murking prdctice to ensure thai it rernains viable aDd able to de]iveT work wAth limited re80urce5. PublRc benefjt Th¢ tru8tces confjrm tha¢ they Iwe complied with the requirements of section 17 of the chIti¢S Act 2011 to have du¢ regard to th¢ public benefit publisknd by the CEMrity Com]nts5ion for End and Wales. Fillancial re¢ Polley on rc¥epv The Board have Lxamitted the Charity CorAnissiott's requirements foT Reserves in li8ht of the main risks to the organi5ation, and have consequently established a policy whereby the Reserv¢s Should cover 3 months, nwnillg costs. CurThtiy this requires an amount of around £20.000. andwe bave been &bleto reach this level. Page 3
The Rising Sun Arts Centre Ltd Trustees, Report Trastees 8nd offJter8 Thc trustCCS officer8 sErving duting the year and since the ye4r end w¢r¢ as follows: Trustees.. L JohaD$8on IResÈgned 8 January 2023) M R Foulkes (R¢sigtttyJ 8 J&ttuary 2023) D L Lovett (Resied 8 Januery 2023) JAdaEns (Re5iglled 8 January 2023) C Robertson (oppointed 8 Jllary 2023) G K Field (apiK)inted 8 Jaouary 2023} J G Wakeman (4pwJint¢d 8 Janwy 2023) Seniormanagement /Le4dership Lftrry Watson S¢ructsry governllce ad maD•gement JY&lMre ofgoverlKg dornmeAI The ¢lwity is controlled by its governing dOCu¢ll( a Memorandum and Articles of Asso¢l&tio and onstilute5 a private li]Dited rotnpany. lill]itsd by 8uardntee, as dEfined by the Compallies Act 2006. Org4nisotionulstr¥dure Th¢ organisation ha5 a board of three trustees. The board 15 independent of senior managernenuexecutive leadenhip. The Man4g¢r of tb¢ ¢¢ntr¢ wo8 part time and supports a volulltccr wOtfo¢ with siwjificant oper21ion21 respowibiltties. Board membeTS serye for & maximum of 4 years and are ele¢ted at th¢ AGM in line witb the organisatioti's Memorandum artd Articles orASltE0rt. Mdjorrlsks ndmandgem*n¢ofthoserl¥kF Risk The trDstees bave a duty tsy idelltify and reviEW the risks to which the chwity is exNJy¢d and to ell8e appropriate eontrols are iti place tr> provide rwonable o$surn¢ 4gain5t fraud and eor. The trustees actively review the major risks whsch the charity faces on a regul basis and believe that mait)trining ¢es¢rv¢s at ¢urrent levels, wmbined with an annual rEview of the contro15 over key finan¢ial system8. will provide suffieieol resourees iti the event of adYeTse cottditioThs. They have also examincd other operational alld business risks faced by the charity and believe that they haye established system5 to mitigate these ri5k5. Ststemellt of trnstees, responslbllitle8 The trllstees (who are also the dir¢ctsr5 of The Rising Swi Arts Centr¢ Ltd for the puryo8¢s of ¢onxpany law) are responsible for pr¢pBring the Inte¢s, report and the financial ststemeA in acci)rd8thce with applicable law at Unit¢d Killgdo Accounting Sknndards (Ullitrd KiDgdotll G¢llrr&lly Acceptsd AccourrtiDg Practice), Inclding FBS 102 "The Fitwi¢ia] Reportiiig StandArd app]i¢able in the UK and Repub]i¢ of Ittld.. Page 4
The Risillg Sun Arls Centre Ltd Tru5tcesl Report Company law reqvires the trn8t¢es to prepare finpn¢tal statetnents for ¢a¢h finaM¢ial year. Under ¢ompat)y law the trust¢es tt)ust not approv6 thE financial statEmcnts kthlEss they arE 58ti5fiEd that th¢y 8ive a truE fair vicw of the stste of affairs of the charitable company attd of thc Èncomit]g rcsources and application of Tesourcc4 including its incom¢ and ¢xpenditsw4 of th¢ diaritabl¢ company for that period In preparing fiDattcial 5to¢em¢ttts, the trustees are quire41 to: selcct suitable acc4)unting policies aDd apply them co]]8iStotly, observe tbe methods and principles iti the Charities SORP. make judgemeDt5 and estimates that are reasonable and prudenL state whetber applicable accounliD8 Standards, comprising FRS 102 have been followe4 subject to mat¢rial d¢partur¢5 disclosed aod ¢xpla&n¢d in tb¢ financial 5tatem¢nts" and prepare the fffillallcial statements on the going concern b&818 unless it is inappropriale to presume that the Iwitable wmpany will ¢Olltinue in busines5. Th¢ trte@S are spOT)S]ble for keopillg pmper accounting record5 tbai can disclose with reasonable aUraCY et any time the financia] position of the charitable mpally and enable them lo ¢$e the fingncia] statement5 coinply with the Companies Act 2006. They ar¢ also TespoJsible for saf¢guardiDg th¢ a55ets' of thE ¢haritsble company And hence foy taking reasotvdble steps for the prevention and dete¢tion of fraud and other irregulatities. The trust¢e8 are T¢sponsibl¢ for the maint¢nanc¢ and integrity of th¢ corporate and financi inf0mtKIn included on th¢ charitable ¢oJnpatiys website. Legislation governing the preparation and dissemination of fmallcial 5tatemellts differ fro IEgi51ation ill otber jurisdictions. The annual rcport was approvcdby the trusteu of the charity on 17 January 2024 and signed on its behf by. C Robertson Tnter Page 5
Tho Rising Sun Arts Centre Ltd Independent Examiner'8 Report to the trvtees of The Rising Sun Arts Centre Ltd ('tbe Company'} I rcwrt to the charity trustees my examrttatiou of the accounts ofthe Company for the y¢ar ended JO April 2023. Resp051blIieY aud ba515 of report As the Glwity's trustees of the Cornpany {and aly) its dire¢tor5 for the PU08¢S of wmpany law) you are r¢sFrf)nsiblc for the preparntion of the accounts in a¢o)rdan¢e with th¢ requirements of th¢ Companies Act 2006 {'the 2006 Act.). Having Sati8fi myself that the aUnts of the Company are not required to be audited under Port 16 of the 2006 A¢t and are eligiblE for indep¢lldt¢rt examination, I report in re$peGt of Y ¢xanJination of your r]Jarity' a¢couttts os c8ttied out under sectlon 145 of the Charities Act 2011 ('the 2011 Act.). In carryittg out my examKnatiots I have followed the Directions given by the Charity Comtni5sion under stion k45{5)(b) of the 2011 Act. An independent e¥amination doe$ not involve gathering all th¢ evid¢n¢e that would be required in an audit and cotwueThdy does Dot cover all the matters that an auditor considers ill giving their opinioll on the accounts. The planning and conduct of au audit goes beyond the limited assurance that an independent exan)inakn can provide. Cotjsequentty l expr¢ss opiniott as to whcthw the aGcounts prcsenl a 'tw¢ and fair, VI ieport is iimited to those specifi¢ matters set out iti the illdepcndenÉ examitter'$ stateEneni. Independent •xaminer's statement I have eoEnpled my cxamination. I confirni that no rnatter5 have eome to my attention in cole¢tiOn with the examination giving me CAU to believe.. counting records We not kept ill respect of The Rising Sun Arts Centre as T¢quitrd by SECtion 386 of th¢ 2006 ACL or 2. the 8ccounts do not accordwith those records. or 3. th¥ accoull¢s do tt ¢omply w5tiL the accounting requirements of section 396 of the 2006 Act other than any requirement that the ac¢owLt5 give a'trut and fair view which Ks not a matter c4)DSidered part of a 4. the a¢coullt8 have not been pwared in a¢¢ordaI¢ with the method5 #Dd prillriplts of the Statemellt of RecOn]ended PractiLZ for accounting alld reporting by clwities lapplicable lo ¢hariti¢s preparing th¢ir accounts cordance with the Financial ReportiD8 St2lldaTd 8pplicBble in the tIK 8od Republic of freland 02)]. I JJavE and have LY)me ac)X>55 no other n7atleTS in conn¢ction with the examination to which att¢ntiim in this report llj Order to enoble a pmper understsnding of the 0th)t$ to be rea¢hed. Antony Weller FCCA David Jones & Co 2018 Limited The Centro Readitig Road Eversley Cejrtre Hp$hIre RG27 ONB 17 January 2024 Poge 6
The Rlsing Sun Arts Centre Ltd Statement of Fillancial Activities for the Year Ended 30 April 2023 (IncRllding Income ¥4nd Expenditure Account and Statement of Total Recogni5ed GaiDs and Losses) Unrestricted fund• R£stricted fuDds Total 2023 Endowments fTOm: Dottations and legacies Charitable activities Oth¢r trading activities Other income 9.087 9,087 15,040 37J40 7.772 15.040 37,340 5.112 1660 Totsl inwme 51,539 17,700 69239 Expenditure on: Raising fimds Cbaritable activiti¢8 oth expenditt¢ Total expcndiknr6 (8.744) (51.973) 1.128 (8.744) (63.115) (1.556) (11,142) (428) 61,845 11,570 73.415 Net (£xpeAditure)fJtteome Net movemettt in fjjnds (10.30 4,176 (10.306) 6.130 (4.176) Rt¢onoli4tion of fvnds Totsl fimds brought forwaTd Total funds caFtied forThErd 40.141 8,106 48.247 29,835 Unrestrirted funds 14.236 Rèstrltted funds 44.071 Tutal 2022 Note come and Endowme•ts Irom: Donations &nd legacies Charitable activllies (her tradillg a¢tiviti¢$ 3.578 10.667 12.962 25.905 3,578 40,449 12,962 27,795 29,782 1.890 Totsl inme 53,112 31,672 84,784 Expenditure OD: Rai5in¥ fimds Charitabl¢ aGtivitiE5 Othff ¢xpenditure (412) (36,391) 1,202) {2,006) [20.675) {1,419 {2,418) (57.066) 2,621) 38.005 24.100) 62.105) Net it0e Transfers bet¢ fiu 15,107 6,000 7,572 6.000 22,679 Net nVement in fimds 21.107 1.572 22,679 The on pag¢s 10 to 19 fonn att intsgral partofthese fiDancial stthrnents. Page 7
The Rising Sun Arts CellÉre Ltd Statement of FinaneiAI Aetivities for the Year Ended 30 April 2023 ncluding Income and Expenditure A¢¢ount and Ststement of Total Recognised Gains and Losses) Unrestricted Restrleted funds funds Totsl 2022 Nots Reeolltlllatlon ofrund8 Totsl fiJnd$ brought foTw4rd Totsl fidS CrIed fonvard 19,034 6,534 25.568 20 40.141 8,106 48247 Ali of the ¢harity's activiti¢5 d¢rivc frolll continuing op¢ratiOll8 thJTiDg thr above two pwiod5. The ftyth br¢akdowm for 2022 is Slw in nott 20. The notes on pages 10 to 19 forni an iegra1 part of these financtal statements. Page 8
The Rising Arts C¢ntre Ltd (Registration number: 03358765) Balance Sheet &¥ F4t 30 April 2023 2023 2022 Note Flxed *et$ Tan1)1¢ 88sets 15 10.453 11,753 Current assets Stocks Debtors Cash * ba]Jk in Iwid 16 17 18 4,870 6,832 29.328 2,285 27,116 19.054 48.455 41,030 CreditOTJ: Ajnowits fauing doe witbin one year 19 7,412 I 1,961 Net eurYerAt assets 33,618 36,494 Net 44.071 48,247 Rostrirt¢d in¢om• fwid5 Restiict¢d 14,236 .106 Unr¢strict¢d income fwid8 UnrtstriLted funds 29.835 40,141 Tot41 fuDds 20 44.071 48247 For the fit]anGial yeat ending 30 April 2023 the cbarity was etttided to exemption from audit utsdex s11)n 477 of the Companicy Act 2006 telating to small companie5. Directors, r¢5FKin$ibilitics: The m¢mb¢rs hav¢ not required the chArity to obtain an audit of its accounts for the year in question ill accordance with section 476. alld The directors &cknowled8e their resp)nsibilities for CO]nptying with th¢ r¢quiT¢ments of the Act with r¢spe¢t to ¥wunling records and tbe preparation of aco)unts. The fjnaDcial sWenwits on pages 7 10 19 were approved by the trustses. and authorised for issue on 17 January 2024 and signed on their behalf by.. C Robertson The note5 oll pages 10 10 19 forn) au integrA] part of thes¢ fjnan¢iAI stat¢m¢nts. Page 9
The Rising Sun Arts Centre Ltd Notes to the FiDan¢ial Slatenients for the Year Ended 30 April 21J23 I Charity statu The charity is limited by guarantee. incorporated in Ellgland. wjd Ly)nseqntfy doES not have share capital. Each of the trustees Is liable to o)ntribute an amount not exce¢ding £Nil towards the ets of the charity the event of liquidation. The address of its registered office is.. 30 Silv¢r StrcBt Berk8hire RGI 2ST Th¢se fala1 stat¢ments were authorised for is8 by the trustees on 17 lallUY 2024. 2 Aceountfittg ]1¢11 Sununary of sigDificallt 8ceountin% policies &nd key &c(ounting e5timgte$ The priucipai accountillg policies applied in the preparation of these financi stalernettts ar¢ 8¢t out b¢l¢)w. These po]i¢i¢s bavc been consistently applied to all the years pre5cntsd, unless oiberwi3e stste(L Ststem¢nt of eompli4llQ The rtllallc1 staleDJ¢nts have been pr¢par&l in ac¢oTdaDce with Accountll]g olld Reporting by Charitie$'. Statement of Recomrn¢nd Pra¢ti¢e (appli¢4ble to Charities preparing their accoutts in accordance with the FIall¢]l R¢p)rting Standard applithle in th6 UK and Republic of treiand IFRS 102)) (Issued iTh OctobeT 2019) - (Chartties SORP (FRS 102)), the Fillaticial Reporting Standard applicable in the UK and Ryblic of Irclalld (FRS 102) athd the Act 2006. Ba51J of pr¢paratSon The Rising Svn Arts Centre Ltd meets th¢ definition of n public bell¢frt entity under FRS 102. Assets ftod liabilities are iTriti8lly rgniSed at hxstori¢al ¢0st or tra10 valuc uul¢ss otheThvise 51ated in the relevant ac¢ounting policy notes. Goill¥ concern The tnTslees consider that tIre att Mo matsrial uncertainttes about the chariws ability to conline as a 8Oill8 conc¢rn llorauy Significant aTe&s of UnCertaity th&t affect the carrying value of &8sets held by the ¢barity. Jntome and e&dowmeDts All income is recoglli5ed once the charity has ¢ntiÈlement to the incoTr, it is probable that th¢ income will be received andth¢ amount of the Inrne re1Vable can be m¢a5ur¢d reliably. Donation5 are reco8Di5ed wben the chaTity ha5 b¢eL Thotified in writing of both th¢ amount RDd settlement date. In the cvtnt tbat a donation is subject to coDditions that require a level of perforn)ance by the ¢harity before the charity is ¢ntitled to the fimds. tb¢ ill¢ome is d¢frrred and not ognIsed until either those eottditions are ful]y m¢i or the fulfilment of thos¢ conditi()ns is wholly wtthin the control of the ¢hority and it l5 probable that these tylitions will b¢ fiafilld in the reporting period. Page 10
Tb¢ Rising Sun Arls Centre Ltd Notes to the Finanei81 Statements for the Year Endcd 30 ApTiI 2023 Expendithre All Cxpenditurc is rec0gll1d Dllcc there is a lesal oi constructive obligatioD that Expenditure, it 15 piobable settierrltnt ig required It the amount can bc MUred reliably. All costs are a]located to the 2pplicable exndItre headtng that aggregate similar to that category. Wh¢r¢ costs cannot be directly attributed to particul headings they h&ve b¢¢n allocated on a b&%is consffistent with the of resources, with ceutTrl staff 5ts altocated on the basis of tim¢ sp¢nL and d¢pwiatiQD charges loCated on the ttl0 of the asset's w¢. Other Support costs are allocated based ott th¢ spread of staff ¢osts. Raulngfundf These are cost5 incurred ill aitra¢titig volwLlary incotllw thr of illv#lm¢nts and those incurrd in tr&ling activities that rnise fijnds. Ckarltable t7cllvllks Charitabl¢ expenditure comprises those costs incurred by the charity the de]ivery of its ¥rtiviti¢s ond services for its beneficiaries. It illcludes both costs that can be allocated directty to such activiti¢s and th05¢ ¢osts of all indirect nature e$Sary to supportthem. Support rusts Support costs illclude central fUnctioS and Iwe been allocated to activity tyjst ¢at¢gtiTies ou a basis coJsist6nt with tht U3E of re50urGe5. for exaD)ple. allocaling propEty costs by floor areas, OT per capit4 Staff costs by the time spettt attd othcr costs by their u588e. Governancc costs These include tbe costs attribulabl¢ ts) th¢ ¢lwity'5 co]npliall¢¢ with CDnstitutional and statutory rcquiT¢maLts, including audii strategi¢ manag¢ment and trustees meetings and reitnbursed ¢xpenses. T#x#tio The ¢har5ty is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Aet 2010 #thd therefore it meEts the definition of a Gharttable company for UK eorporatiorl t&¥ pury>oses. Ac£ordingty. the charity is Potentially exety from tyxation in re$pecl of inconw or capitsl gains received within categories covered by Ch&pt¢r 3 Part 11 of tbe CoTP)r&tion Act 2010 or SrGtiDn 256 of the T&xation of Chargeabl¢ GaiD$ l992. to tkn extetrt that such in¢ome or gain5 Are applied exclusively to chajitable pwposes. Tanglblt fixed asset8 Individual fixed a85¢ts costing £ll)O.00 or more are InitilY recorded at cosL less any subsequEnt actMulated depr¢ciation and subsequent aGcu]Thulat£d impairmellt 105ses. Page 11
The Rising Sun Arts Centre Ltd Notes to the Fiwaneial Statejnents for the Ye¥dr Ended 30 April 2023 Depretiation 8mortiBatloJ D¢pr£ciation is provided on tIble fixed assets so as to lte off the cost or valu10 less any estinthted residual valuc, OVCT their expected use] as follows: Asset class Improv¢m¢nts lo property Equipment Computer equipment D¢pr¢cÉation method and rats IOQ/o rethicillg bala¢ met]Mxl 25% reducin8 balance method 33% straigbt line method Stsck Bar stock is valued atth¢ lower of Cost atLd net rali&able value. Trode dtbtsrs TradE d¢bfr)TS are a]nounts due from customers for merchandise sold or servi¢es perfornied in the ordinary course of busine8S. Casb alld cash equlvalents Cash and cash equivalents comprise casb oll hand alld call d¢posity ond other $irt-t¢i highly iiquid iuv¢Stmts that are readily convertkble to a known amoutst of al are subject to an insignificHllt risk of change in th. Tr4do ¢reditors Trade creditors are oblÉgations to pay for goods or 5eryices that have been acquired in the ordinary course of business from wppliets. AwU1 payable are classifieo as current liabilities if the ¢barity doB8 not have an UDconditional righ( at th¢ eod of the reporting perio( to dcfcr 5cttlcm¢nt of th¢ GKditor for at least twelve months after the reporting date. ]f there ig an unconditional rt8ht to d¢fer 5cttlcment for at Icwt twelve months aft¢rthe r6POrting date. they are presented &8 non-cwrent Itabilili¢5. Fund strllcture UllrestriGtpd income filltds are general funds that atE availablc fj)r use at the trustees discretion in firtheran¢e of th¢ objediY¢s of the ¢harity. li¢strict¢d itwme fifftd5 are those donated for we in a particutar area or for specific pwrposes. tbe us¢ of which is restricted to that area or purpo. Pension5 wnd •th¢rpost retirement obligations Th¥ clwity operates a defined coDtribution pension s¢heme wbich is a P¢D5iQll plvll der wbicb fJxEd LxyntributioDs are paid intt) a pensic)n fimd and the chlty has no legal or constrnctive obligation to pay furthcr ontributions even if the find dS not hold $uffi¢ienl &ssets to pay all eEnployees the benefits relating to en)ployee servic¢ in the al PriDr periods. Contrtbution5 to defined contribution plans are re¢ognis¢d io th¢ Stat¢ment of Financial Activities Moen they ar¢ due. If contribution paymcniq cxceed the coftthblltsot) due for seryice, the excess is r¢cogni$td a5 & prepaym¢llt. Page 12
The Rising Sun Arts Centre Ltd Notes to the Financial Statements for the Year Ended 30 ApriI 2023 vID4dl 3 Income froFn donations aDd lexaciu UDre8tricted funds General Tot#1 2023 TDtsI 2022 DDDatioDs and legacies; I)onatioL8 from individuals 9.087 9,087 9,087 9,087 3,578 3,578 4 ch&rit&ble attivltl I'otal 2012 fund& 2023 Arts at)d creative activitLes 15.040 15.040 40.449 5 Ie frojn other tradinE 8Ctivitios Unrestrieted ds Gener81 Totsl nds Total 21122 O¢ker ¢Y¢llts income 37,340 37.340 12,962 37,340 37.340 12.962 6 Other Income Unre¥tric¢ed rllllds General Restrided fuDds To¢*1 2023 Total 2022 Fees and supp]ieg 267 4,845 5.112 2,660 2,927 4,845 4.185 23.610 2,660 7.772 27.795 PHge 13
The Rising Sun Arts Centre Ltd Notes to tbe Financi¥dl Ststements for the Yvar Ended 30 April 2023 7 Expendlture ratslng Thd$ rd) Costs of tradlng aethuties Unrestri£ted ds GenerAl Total 21)23 Total 21122 Costs of 8oody sold 8,744 8,744 2,418 8.744 8,744 2,418 8 Expelldliu oneharttabIt artlTrltles UDr¢stri¢tsJ Rostrlcted funds Totsl 2022 General 2023 l¥ote Arts and crcative tivities stsff ¢osts Allwat¢d sUp)rt costs Governance costs li 29,542 6,307 2,660 6J18 32202 16.343 22,008 io io 19,176 3,244 2,175 21,351 3244 15.619 3.096 51,973 11,142 63.115 57,066 9 Other expcnditur¢ Unrertrleted fuThds Cetternl Restricted funds Total 2023 Tothl 2022 D¢pr¢¢ial5o amortisation 4nd other simiiar costs 1.128 428 1,556 2,621 1.128 428 1.556 2,621 Page 14
Tbe R&sing Sun Arts Centre Ltd Note3 to the Financial Statements for the Year F4nded 3(1 April 2023 10 Anatysi5 of Eoveniance and costs Charil8bl¢ &ttlvities expendtture Uttr¢¥tri¢t¢d ds Gelleral Restricted funds Total Basis of Alloeatlo loo General offLce rut]ng costs L9,176 2,175 21351 Tothl for2022 15,619 15,619 Gov¢rll4n¢e Uttre$tri¢ted fllnd8 G¢n¢Tal Total nds Jndependent ¢xao)iner fees ExAtninatiott of the financial $tatcrntnts 3244 3,244 Totsl for 2D23 3,244 3.244 Total lor 21122 3,096 3.096 11 Net ADeomlngloMtgoln8 resourees N¢t (outgoingyincoming rsourc¢5 for the year includ¢: 2023 21122 Depreci&tionof fixed assets 1.556 2.621 12 Trustees remulleratÉon wtd expeDSes No trustees. any perSODS connected with th¢m, hay¢ e1Ved any remwA¢ration froj)) th¢ ¢harity during the ar. No tru5tsE5 h0 ee]y¢d any r¢imbued expellses or sny other benefits fromthe clty during the year. Page 15
The RisRng Sun Arts Centre Ltd Notes to the Financial Statem¢nts for the Year Ended 30 April 2023 IJ Staff costs The aggtegats payroll costs were #s fi)Ilows: 21123 2022 St4ff ¢osts during th¢ y¢arTrvor•: Wages and salari¢¥ Pension ¢o5ts 31,743 459 21,549 459 32202 22.008 The monthly averdge number of persons Cmcluding senior management / leadcysbip tegm) employed by the ¢harity durtn8 the year expressed as 11 time equiYal¢nts WAS as follows.. 2023 No 2022 No ep]0Ye¢ reccived eOlUments of more th2ll £60,000 dwing the year. 14 Taxation The clwity is aregisteTed cbarity and is therefore exempt from twtion. 15 fixed assets Land bulldlngs FurnItre tqulpment Total Cost At l May 2022 Additions 17,971 10.452 256 28.423 256 At 30 Awil 2023 Deprec1411oll At l May 2022 Charge forthe ye¥x At 30 April 2023 17,971 10,708 28,679 8,195 978 8.475 578 16.670 1.556 9.173 9.053 18,226 Net knok value At 30 April 2023 5,798 1,655 10.453 At 30 April 2022 9,776 1.977 11,753 Page 16
The Rising Sun Arts Centre Ltd Note5 to the Financial Statements for the YeAr Ended 30 April 2023 16 Stwk 21123 21122 StrKks 4,870 2.285 17 D¢btaTS 2023 21)22 Trad¢ d¢btOTS PTepaymet)ts 5.104 1.728 6,832 25,388 1,728 27.116 18 Cash snd cgsh equiv8lents 2023 2022 C&8h at bank 29,328 19,054 19 Crtdltors: amounts fAlllttg due wlthin fjn¢ y¢ar 2023 2022 Tradc creditors Othcr taKatiou ynd social s¢curity Other creditors (265) 4.825 311 88 6,737 7,588 7,412 11.961 Pw17
The Rising Sun Arts Centre Ltd Notes to the Financial Statements for the ye Ended 30 AprAI 2023 20 Bg18nce at I MAY 2022 IncoDthhg resources Resouree8 expended Balsn¢e *t311 April 2023 UnT¢stric¢¢d funds Gener General Fund 40.141 51,539 (61.845) 29.835 Rostricted funds Berksh1 Commiinity Found1011 Readtng Borough Covncii TheEarl¢y Cbarity Arts Council FJngland University of Reading East StreetArts Gllild 4,600 6,840 3,600 {250) (6,057) (563) (115) (2,660) 1,925 4.350 2.383 4206 347 450 2,500 1.600 1,169 462 450 4,425 1660 .106 17.700 IlJ70 14.236 Totil fnd 48.247 69,239 (73,415} 44,071 Balance It 311 April 2022 Balance 4t I May2021 Resouree5 expettded re80urees Trnrtsfer8 Ubrestrieted futtlts Geneml G¢Deral Futtd 19.034 53,112 (38.005) 6,000 40.141 Re8trirted fwiils Readlng Borough Council TheEIeY Charity Coullcii Lng]aDd Univ¢rsity of R¢ading E&st StreetArts Guild 4.100 2,434 (2,500) (1,265) (l8,895) (1,440) 1.600 1.169 462 450 4,425 25,357 1.890 {6.OIKJ) 6.534 31.672 24.100 8,106 Totsl fndS 25.568 62.105 48.247 Page 18
The Rising Sun Arts Celltre Ltd Note8 to the Financial Statements for the Year Ended 30 April 2023 21 Anatysis of net AS8ets bttw¢en lJttrestricted funds General Total fvttds #t 311 Apr1] 2023 Restricted Kwids Tallgiblc fixed a8sets Current assets Current liabilities 7.112 29,485 6,762) 3J41 11,545 (650) 14,236 10,453 41,030 7.412 Total net a58¢ts 29,835 44,071 Unrestrieted fullds Gener81 Tolal fund8 at 30 April 21122 Restricted fuLds TaDgibl¢ fix¢d assets CuJYent assets cuent liabilities 879 48,073 (8,811) 10,874 382 3,1501 11,753 48,455 11,961 40.141 8,106 48,247 Page 19