REGISTERED CHARITY NUMBER: 1071956
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31st December 2023
for
Quenington Sculpture Trust
AMM Bookkeeping & Accountancy 4 Longlands West End Gardens Fairford Gloucestershire GL7 4LG
Quenington Sculpture Trust
Contents of the Financial Statements for the Year Ended 31st December 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
Quenington Sculpture Trust
Report of the Trustees
for the Year Ended 31st December 2023
The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity, as set out in the Trust Deed, are as follows: -
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To promote education and to foster the maintenance, improvement and development of artistic taste, knowledge, understanding and appreciation of arts generally and sculpture in particular.
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To promote the work of selected artists during the Fresh Air Sculpture exhibition.
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To benefit such other exclusive charitable objectives and purposes as the Trustees may in their absolute discretion see fit.
Public benefit
The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives, in planning future activities.
The trustees consider that the charity's activities benefit the public in three key areas:
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The charity provides bursaries to sculptors who would otherwise may have difficulty in obtaining materials and continuing their work.
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The Fresh Air Sculpture exhibition is opened to schools to allow local school children to enjoy the exhibits and learn about sculpture, design and materials. Our tutors, working with teachers, play a vital part in this. The feedback is very positive.
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At the request of local charities helping the most vulnerable people, with trustee, Ana Bianchi, we design visits for small groups to give the greatest enjoyment and benefits.
Grantmaking
The trustees have sole discretion in the selection of applicants, the subjects to be studied and the size of the awards.
Nominations for grants are elicited by submission of a formal application stating how the funds would be used and what would be achieved.
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Quenington Sculpture Trust
for the Year Ended 31st December 2023
Report of the Trustees
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In June and July 1992, the Quenington Sculpture Trust held its first selling exhibition and since then have held a selling exhibition every other year.
The 2023 year commenced with funds of £117,761 (unrestricted) and £Nil (restricted) and closed with £90,558 (unrestricted) and £18,879 (restricted).
Education is at the core of Fresh Air Sculpture; we fund and manage school visits during the 3 weeks of the show; and due to overwhelming requests and demands from these schools to support creative arts in 2023 we launched a fully funded outreach programme into schools in the area through our charity Quenington Sculpture Trust.
In 2023 we ran three projects focusing on Secondary school students, Primary school students and Special Schools.
Secondary Schools:
The Blacksmithing course was created as a 3-way collaboration between the UK charity The Ernest Cook Trust, Hereford College of Arts and funded by the Quenington Sculpture Trust.
Taking place at the ECT's Fairford headquarters, the equipment - including six portable, coke-fired forges and six anvils came from Hereford and set up in a purpose-built outside space. Six Artist Blacksmithing undergraduates from Hereford College of Arts came to teach forging skills to six students who are being helped to work towards employability awards Running this course also contributed to the undergraduates' degree show. One positive outcome included 2 students becoming apprentices at a local forge,
Special School Project::
Art Week was a result of a collaboration between Novalis Trust carver and letter artist, Lisi Ashbridge, and William Morris School's Head of Art and Design, Eppie Short and Fresh Air Sculpture. Held over five days at William Morris School in Stonehouse, Students took part in a series of workshops. The main objective of the multi-sensory project was to help students grow in confidence in language, writing and self expression.
Primary school project:
An outdoor Living Willow Sculpture was installed as part of a bigger redevelopment of the outside space for Watermoor School near Cirencester. The creative team at the Cotswold Forest School, along with the children and teachers from Watermoor, made a three dome willow sculpture to provide an outdoor learning space, as well as a reflection area, for those children affected by trauma. This project was co-ordinated and funded by Quenington Sculpture Trust.
We are most appreciative of the outstanding work and imagination that our Trustees, education team and curators put into the planning of Fresh Air and its educational programme. On the resignation of Ana Bianchi-Evans, we welcomed Emily Bainbridge as one of our 5 trustees.
The next Fresh Air Sculpture exhibition will be from 16th June - 7th July 2024.
Investment performance
At the end of last year the Trustees decided to invest some of the surplus funds with the Cambridge and Counties Building Society. £80,000 was invested at 3.30%.
FINANCIAL REVIEW
Financial position
The Trust's income for the year was £26,500 (2022: General funds £169,492) with expenditure of £34,824 (2022 - £121,476) giving a deficit for the year of £8,324 (2022 - £48,016 surplus).
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Quenington Sculpture Trust
for the Year Ended 31st December 2023
Report of the Trustees
FINANCIAL REVIEW
Reserves policy
The reserves policy of the Trust is to maintain a suitable level of reserves to meet the day-to-day administration of the Trust and cover any salary commitments for a period of 12 months.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Quenington Sculpture Trust is constituted and governed by a Deed of Trust dated 14 September 1997.
Charity constitution
The Quenington Sculpture Trust is a registered charity, No. 1071956.
Organisational structure
The trust deed provides for a minimum of 3 and a maximum of 5 trustees. Were there a requirement for new trustees, these would be identified and appointed by the remaining trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1071956
Principal address
Quenington Old Rectory Quenington Cirencester Gloucestershire GL7 5BN
Trustees
L Abel Smith E Abel Smith A Bianchi-Evans (resigned 5.6.23) L Fitch L Russell E Bainbridge (appointed 1.10.23) (resigned 2.9.24)
Independent Examiner
Andrena Miles
AMM Bookkeeping & Accountancy 4 Longlands West End Gardens Fairford Gloucestershire GL7 4LG
Bankers
Lloyds Bank 14 Castle Street Cirencester GL7 1QJ
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uenin on SLUI ture Trust ort of the TTUStees for the Year Ended 3 1st December 2023 Approved by order of the board of trustees on 30th October 2024 and signed on its behalf by.. L Abel Smith_ T stee Page 4
Independent Examiner's Report to the Trustees of Quenington Sculpture Trust
Independent examiner's report to the trustees of Quenington Sculpture Trust
I report to the charity trustees on my examination of the accounts of Quenington Sculpture Trust (the Trust) for the year ended 31st December 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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 have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andena Miles FMAAT
AMM Bookkeeping & Accountancy 4 Longlands West End Gardens Fairford Gloucestershire GL7 4LG 30th October 2024 Date: .............................................
Page 5
Quenington Sculpture Trust
Statement of Financial Activities for the Year Ended 31st December 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies - Charitable activities Education - Fresh Air Sculpture Exibition - Total - EXPENDITURE ON Charitable activities Education - Artist Support - Fresh Air Sculpture Exibition 27,203 Total 27,203 NET INCOME/(EXPENDITURE) (27,203) RECONCILIATION OF FUNDS Total funds brought forward 117,761 TOTAL FUNDS CARRIED FORWARD 90,558 |
Restricted funds £ 26,500 - - 26,500 7,621 - - 7,621 18,879 - 18,879 |
31.12.23 31.12.22 Total Total funds funds £ £ 26,500 7,063 - 723 - 161,706 26,500 169,492 7,621 12,647 - 1,000 27,203 107,829 34,824 121,476 (8,324) 48,016 117,761 69,745 109,437 117,761 |
31.12.23 31.12.22 Total Total funds funds £ £ 26,500 7,063 - 723 - 161,706 26,500 169,492 7,621 12,647 - 1,000 27,203 107,829 34,824 121,476 (8,324) 48,016 117,761 69,745 109,437 117,761 |
|---|---|---|---|
| 169,492 | |||
| 12,647 1,000 107,829 |
|||
| 121,476 | |||
| 48,016 69,745 |
|||
| 117,761 |
The notes form part of these financial statements
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uenin on Scul ture Trust Balance Sh¢et 3 1st Deceniber 2023 31.12.23 'rolal funds 31.12.22 Total funds Unrestricted fund Restricted funds Notes FIXED ASSETS Intangible assets Tangible assets 1.592 3,824 1,592 3,824 1,592 3,824 5,416 5,416 5,416 CURREIYT ASSETS Debtors Cash at bank 500 89.655 500 108,534 18,879 115.665 90,155 18,879 109,034 115,665 CREDITORS Amounts falling due within one year (5,013) (5,013} (3,3201 IYET CURRENT ASSETS 85,142 18.879 104,021 112,345 TOTAL ASSETS LESS CURRENT LIABILITIES 90,558 18,879 109,437 117.761 NET ASSETS 90,558 18,879 109,437 117,761 FUNDS Unrestricted funds Restricted funds 90,558 18,879 117,761 TOTAL FUNDS 109,437 117,761 The financial statements were approved by the Board of Trustees and authorised for issue on 30th October 2024 and were signed on ils behalf by: L Abel Smith - Trustee The notes forn] part of these financial slalements Page 7
Quenington Sculpture Trust
Notes to the Financial Statements for the Year Ended 31st December 2023
1. ACCOUNTING POLICIES
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 2019)', 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.
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.
Plant and machinery - 25% on cost Computer equipment - 33% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.
The trustee, L Abel Smith paid costs of £nil (2022: £14,848) on behalf of the charity. These were reimbursed during the year.
The Trustee, L Russell paid costs of £nil (2022: £319) on behalf of the charity. These were reimbursed during the year.
continued...
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Quenington Sculpture Trust
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
| 3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 63 Charitable activities Education 723 Fresh Air Sculpture Exibition 161,706 Total 162,492 EXPENDITURE ON Charitable activities Education 5,647 Artist Support - Fresh Air Sculpture Exibition 106,829 Total 112,476 NET INCOME/(EXPENDITURE) 50,016 RECONCILIATION OF FUNDS Total funds brought forward 67,745 TOTAL FUNDS CARRIED FORWARD 117,761 4. INTANGIBLE FIXED ASSETS COST At 1st January 2023 and 31st December 2023 AMORTISATION At 1st January 2023 and 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 |
Restricted Total funds funds £ £ 7,000 7,063 - 723 - 161,706 7,000 169,492 7,000 12,647 1,000 1,000 1,000 107,829 9,000 121,476 (2,000) 48,016 2,000 69,745 - 117,761 Computer software £ 2,976 1,384 1,592 1,592 |
Total funds £ 7,063 723 161,706 |
|---|---|---|
| 169,492 | ||
| 12,647 1,000 107,829 |
||
| 121,476 | ||
| 48,016 69,745 |
||
| 117,761 |
continued...
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Quenington Sculpture Trust
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
5. TANGIBLE FIXED ASSETS
| COST At 1st January 2023 and 31st December 2023 DEPRECIATION At 1st January 2023 and 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 8. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted Funds - Education TOTAL FUNDS |
Plant and machinery £ 928 535 393 393 At 1.1.23 £ 117,761 - 117,761 |
Computer equipment £ 6,684 3,253 3,431 3,431 31.12.23 £ 500 31.12.23 £ 1,393 3,620 5,013 Net movement in funds £ (27,203) 18,879 (8,324) |
Totals £ 7,612 3,788 3,824 3,824 31.12.22 £ - 31.12.22 £ 100 3,220 3,320 At 31.12.23 £ 90,558 18,879 |
|---|---|---|---|
| 109,437 |
continued...
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Quenington Sculpture Trust
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund - Restricted funds Restricted Funds - Education 26,500 TOTAL FUNDS 26,500 Comparatives for movement in funds At 1.1.22 £ Unrestricted funds General fund 67,745 Restricted funds Restricted Funds - Education 2,000 TOTAL FUNDS 69,745 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 162,492 Restricted funds Restricted Funds - Artists 1,000 Restricted Funds - Education 5,000 Restricted - Student interns 1,000 7,000 TOTAL FUNDS 169,492 |
Resources Movement expended in funds £ £ (27,203) (27,203) (7,621) 18,879 (34,824) (8,324) Net movement At in funds 31.12.22 £ £ 50,016 117,761 (2,000) - 48,016 117,761 Resources Movement expended in funds £ £ (112,476) 50,016 (1,000) - (7,000) (2,000) (1,000) - (9,000) (2,000) (121,476) 48,016 |
|---|---|
continued...
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Quenington Sculpture Trust
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted Funds - Education TOTAL FUNDS |
At 1.1.22 £ 67,745 2,000 69,745 |
Net movement in funds £ 22,813 16,879 39,692 |
At 31.12.23 £ 90,558 18,879 |
|---|---|---|---|
| 109,437 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 162,492 | (139,679) | 22,813 |
| Restricted funds | |||
| Restricted Funds - Artists | 1,000 | (1,000) | - |
| Restricted Funds - Education | 31,500 | (14,621) | 16,879 |
| Restricted - Student interns | 1,000 | (1,000) | - |
| 33,500 | (16,621) | 16,879 | |
| TOTAL FUNDS | 195,992 | (156,300) | 39,692 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2023.
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Quenington Sculpture Trust
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31st December 2023 | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | - | 1,063 |
| Grants | 26,500 | 6,000 |
| 26,500 | 7,063 | |
| Charitable activities | ||
| Catalogue and entrance fees | - | 77,924 |
| Artwork commission and sales | - | 80,797 |
| Other income | - | 3,708 |
| - | 162,429 | |
| Total incoming resources | 26,500 | 169,492 |
| EXPENDITURE | ||
| Charitable activities | ||
| Insurance | - | 300 |
| Sundries | 26 | 816 |
| Consultancy and subcontract fees | 16,829 | 46,886 |
| Exhibition costs | 108 | 14,953 |
| Catalogue production costs | - | 19,506 |
| Advertising and promotion | 530 | 398 |
| Catering | - | 7,065 |
| Shopify, ticket handling and credit card fees | 38 | 5,079 |
| Education workshop expenses | 7,621 | 4,095 |
| Courier and delivery costs | 127 | 352 |
| Rent and services | - | 1,279 |
| Ground maintenance | 555 | 6,561 |
| Donations | 4,176 | 4,000 |
| Secretarial services | 400 | 482 |
| Subscriptions | 35 | 106 |
| Computer expenses | 930 | 862 |
| Motor and travelling | - | 255 |
| Website costs | 877 | 384 |
| Computer software | - | 744 |
| Plant and machinery | - | 232 |
| Fixtures and fittings | - | 1,672 |
| 32,252 | 116,027 | |
| Support costs |
This page does not form part of the statutory financial statements
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Quenington Sculpture Trust
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31st December 2023 | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Support costs | ||
| Finance | ||
| Bank charges | 39 | 22 |
| Governance costs | ||
| Accountancy and legal fees | 2,533 | 5,427 |
| Total resources expended | 34,824 | 121,476 |
| Net (expenditure)/income | (8,324) | 48,016 |
This page does not form part of the statutory financial statements
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