**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: -
- 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.
- To promote the work of selected artists during the Fresh Air Sculpture exhibition.
- 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:
- The charity provides bursaries to sculptors who would otherwise may have difficulty in obtaining materials and continuing their work.
- 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.
- 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.
Page 1
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).
Page 2
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
Page 3
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:
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 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
Page 6
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...
Page 8
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...
Page 9
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...
Page 10
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...
Page 11
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.
Page 12
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
Page 13
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
Page 14