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2023-03-31-accounts

Registered Charity Number: 1062876

Wolf and Water Arts Company

Report of the Trustees and Unaudited Financial Statements For the year ended 31[st] March 2023

Wolf and Water Arts Company

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31[st] March 2023

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6
Notes to the Financial Statements 7 to 9
Detailed Statement of Financial Activities 10

Wolf and Water Arts Company

REPORT OF THE TRUSTEES for the year ended 31[st] March 2023

The trustees present their report and financial statements for the year ended 31st March 2023.

Objectives and Aims

The charity uses arts techniques creatively and as part of the therapeutic process with groups who are socially, mentally or physically challenged.

The work generates self esteem through the development of new personal and interpersonal skills as well as raising a wider public awareness of the skills and problems of such groups.

Public benefit

The Trustees have considered the Charity Commission guidance on public benefit and consider that the activities of the charity meet its charitable objectives and provide a benefit to the public.

Achievement and Performance Charitable activities

Many Directions Theatre

This year has seen the further expansion of the Many Directions Theatre group post Covid. We have welcomed back more members who had initially been hesitant to re-join group activities following Covid as well as welcoming a number of members totally new to the group. These new participants are now regularly attending sessions. They have settled well and are enjoying the creative activity and social engagement offered. It has been an exciting year as we prepare for an upcoming performance. The group have worked together with facilitators to devise the show and we are all looking forward to sharing it with a wider public audience later this year. In performing artistic work to the local community, we fulfil a number of organisational aims. Amongst others, these include the opportunity for adults with learning disabilities to engage in creative and expressive activity, to build confidence and social engagement and to increase connection with the wider community. Furthermore, we seek to showcase the talents of this often-marginalised group of adults.

Organisational

Our Organisational structure allows us to scale up and down as required and continues to prove vital in the current climate.

All our staff are freelance managers, artists and workshop facilitators. We are supported by a group of long-standing volunteers and hard work by our board of Trustees.

Project

We are currently fundraising to improve the long-term sustainability of our work.

Financial review

Donations, grants and fees received in the year were £12,305 (2022: £5,292). Expenditure on charitable activities £16,713 (2022: £17,650).

There was a deficit at the year-end of £4,390 (2022 deficit: £12,358). Unrestricted Cash Reserves at year end were £7,819 which represents 5.6 months running costs. (2022: £8.5 months).

Many thanks to everyone who has given generously throughout the year.

Page 1

Wolf and Water Arts Company

REPORT OF THE TRUSTEES for the year ended 31[st] March 2023

Reserves policy

The policy of the organisation is to maintain three months running costs as reserves wherever possible. This reflects the concern of the trustees that they should maintain sufficient reserves to meet any unforeseen circumstances and in particular, to meet the organisation's obligations.

Structure, Governance and Management

Governing document

Wolf and Water Arts Company was converted to a Charitable Incorporated Organisation (CIO) on 11[th] August 2022 and governing document dated 2[nd] September 2021. It was formerly a company limited by guarantee, incorporated on 8[th] May 1997 (Company Registration Number 03367122) and registered as a charity on 17[th] June 1997 (Charity Registration Number 1062876)

Recruitment and appointment of new trustees

The trustees are professional people drawn from the Arts and various other professional sectors and appointed at the Charity’s annual general meeting or formal board meetings. Their time is given voluntarily.

The trustees review ongoing activities and also consider new initiatives that might be developed and publicized. Briefings on matters concerning operational aspects of the charity are arranged with the senior staff from time to time, with occasional input from external consultants.

Organisational structure

Wolf and Water Arts Company is directed by a Board of Trustees.

The present trustees of the board, who are in joint control of the charity’s finances, meet regularly to monitor the charity’s financial position. Any risks identified by the trustees are reviewed and systems are in place to mitigate such risks. The Board takes responsibility for all policy decisions. The minutes of Board meetings constitute the formal record of proceedings and decisions taken and approved by the trustees.

Reference and Administration Details

Registered name

Wolf and Water Arts Company

Registered Charity number

1062876

Principal address

The Plough Arts Centre Fore Street Torrington Devon EX38 8HQ

Trustees

Name

Position

Appointments/Resignations

Jon Munsey Chair Caroline De Groot Diana Macdonald Murray Revd John Charles Carvosso Christopher John Heard

Independent Examiner Magnus Proctor FFA Lindisfarne Landkey Road Barnstaple Devon EX32 9BW

Page 2

Wolf and Water Arts Company

REPORT OF THE TRUSTEES for the year ended 31[st] March 2023

Trustees' responsibilities statement

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

22[nd] January 2024

Approved by the board of trustees on ....................................................... and signed on its behalf by:

............................................. Jon Munsey, Chair

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOLF AND WATER ARTS COMPANY

Independent examiner's report to the trustees of Wolf and Water Arts Company

I report to the charity trustees on my examination of the accounts of Wolf and Water Arts Company for the year ended 31[st] March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Signed:

Magnus Proctor Fellow of the Institute of Financial Accountants Lindisfarne Landkey Road Barnstaple Devon EX32 9BW

22[nd] January 2024

Date: .............................................

Page 4

Wolf and Water Arts Company

STATEMENT OF FINANCIAL ACTIVITIES for the Year ended 31[st] March 2023

Notes
Income and Endowments
Donations and legacies
2
Grants
2
Charitable activities
2
Other income
Total Incoming Resources
Expenditure on:
Charitable activities
3/4
Total Resources Expended
Net Incoming / (Outgoing) resources
Transfer between funds
Reconciliation of Funds
Total Funds brought forward
Total Funds carried forward
6		 2023
2022
Unrestricted
funds
Restricted
funds
Total
Total
£
£
£
£
0
0
0
0
12,305
0
12,305
3,250
0
0
0
2,042
18
0
18
0
12,323
0
12,323
5,292
11,256
5,457
16,713
17,650
11,256
5,457
16,713
17,650
1,067
(5,457)
(4,390)
12,358
0
(0)
0
0
1,067
(5,457)
(4,390)
12,358
11,959
5,457
17,416
29,774
13,026
0
13,026
17,416

The notes form part of these financial statements

Page 5

Wolf and Water Arts Company

STATEMENT OF FINANCIAL POSITION At 31[st] March 2023

Notes
Current Assets
Debtors
Cash at bank
Current Liabilities
Amounts falling due within one year
5
Current Assets less Current Liabilities
Total Assets less Current Liabilities
Net assets
Funds
Restricted funds
6
Unrestricted funds
Total funds		 2023
2022
Unrestricted
funds
Restricted
funds
Total
Total
£
£
£
£
750
0
750
0
13,276
0
13,276
17,916
14,026
0
14,026
17,916
(1,000)
0
(1,000)
(500)
(1,000)
0
(1,000)
(500)
13,026
0
13,026
17,416
13,026
0
13,026
17,416
0
0
5,457
0
0
11,959
13,026
0
13,026
17,416

22[nd] January 2024

The financial statements were approved by the Board of Trustees on ……………………………..and were signed on its behalf by:

----- Start of picture text -----
.............................................
Jon Munsey, Chair
----- End of picture text -----

The notes form part of these financial statements

Page 6

Wolf and Water Arts Company NOTES TO THE FINANCIAL STATEMENTS

1. Accounting Policies

Basis of preparing the financial statements and assessment of going concern

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.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

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.

Equipment 4 years straight line Buildings 15 years straight line

Taxation

The charity is exempt from tax on its charitable activities.

Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.

Creditors

Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

The notes form part of these financial statements

Page 7

Wolf and Water Arts Company NOTES TO THE FINANCIAL STATEMENTS

2. Donations and Legacies

Donations and legacies
Grants
Charitable activities
Other Income
Donations and legacies
Grants
Charitable activities
Other Income
Expenditure on charitable activities
Charitable activities
Support costs
Charitable activities
Support costs
Analysis of support costs
Independent examiner
Debtors: amounts falling due within one year
Accruals and deferred income		 Unrestricted
£
0
12,305
0
0		 Restricted
2023
£
£
0
0
0
12,305
0
0
0
0
0
12,305
Restricted
2022
£
£
0
0
0
3,250
0
2,042
0
0
12,305
Unrestricted
£
0
3,250
2,042
0
5,292 0
5,292
Unrestricted
£
10,756
500		 Restricted
2023
£
£
5,457
16,213
0
500
11,256 5,457
16,713
Unrestricted
£
16,310
500		 Restricted
2022
£
£
800
17,110
0
500
16,850 800
17,650
2023
2022
500
500
500
500
2023
2022
£
£
750
0
750
0

3. Expenditure on charitable activities

4. Analysis of support costs

5. Debtors: amounts falling due within one year

6. Creditors: amounts falling due within one year

Accruals and deferred income 2023
2022
£
£
1,000
1,000
1,000
1,000

The notes form part of these financial statements

Page 8

Wolf and Water Arts Company NOTES TO THE FINANCIAL STATEMENTS

7. Movement in Funds

7. Movement in Funds
Funds
General Fund
Restricted Fund
Total Funds
Funds Previous Year
General Fund
Restricted Fund
Total Funds		 Balance
Income
Expenditure
Transfers
Balance
1st Apr 2022
31st Mar 2023
11,959
12,323
(11,256)
(0)
17,416
5,457
0
(5,457)
0
0
17,416
12,323
(16,713)
0
17,416
Balance
Income
Expenditure
Transfers
Balance
1st Apr 2021
31st Mar 2022
19,010
5,292
(16,850)
(4,507)
11,959
10,764
0
(800)
4,507
5,457
29,744
5,292
(17,650)
0
17,416

8. Trustee remuneration and benefits

None of the trustees have been paid any remuneration or received any benefits from an employment with the charity or a related entity.

The notes form part of these financial statements

Page 9

Wolf and Water Arts Company

The following pages do not form part of the Financial Statements

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[st] MARCH 2023

Donations and legacies
Donations:
Grants
Projects
Other income
Total income from donations and legacies
Investment income
Interest received
Total income from investment income
Total incoming resources
Fundraising costs
Charitable activities
Evaluation
Artist fees
Props and production materials
Hire of venue
Insurance
Travel
Volunteer expenses
Artist travel overseas
Administrative assistance
Bank charges
Rents
Website
Project management
Subscriptions
Finance administration
Core company administration
Total expenditure on charitable activities
Support costs
Accountancy
Total support costs
Total resources expended
Net incoming/(outgoing) resources		 2023
2022
£
£
12,305
3,250
0
2,042
0
0
12,305
5,292
18
0
0
0
12,323
5,292
0
0
0
75
11,500
11,777
0
0
1,719
504
761
761
0
380
0
0
0
0
305
0
168
155
780
1,175
0
749
0
970
240
0
0
564
740
0
16,213
17,110
500
540
500
540
16,713
17,650
(4,390)
(12,358)

Page 10