**REGISTERED CHARITY NUMBER: 1071956** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31st December 2024 for Quenington Sculpture Trust Roberts & Co (Bristol) Limited 24 High Street Chipping Sodbury Bristol BS37 6AH Quenington Sculpture Trust ## Contents of the Financial Statements for the Year Ended 31st December 2024 |||Page|| |---|---|---|---| |Report of the Trustees|1|to|3| |Independent Examiner's Report||4|| |Statement of Financial Activities||5|| |Balance Sheet||6|| |Notes to the Financial Statements|7|to|12| |Detailed Statement of Financial Activities|13|to|14| Quenington Sculpture Trust ## Report of the Trustees ## for the Year Ended 31st December 2024 The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. 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 2024 ## Report of the Trustees ## **ACHIEVEMENTS 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. Fresh Air Sculpture 2024 delivered 15 fully funded workshops over the three weeks of the show (June 17th to July 5th, 2024) to schools and colleges as well as 15 self-led afternoon visits from local primary and secondary schools in the area. We saw 283 children attending the workshops and nearly 700 children visiting the show and using the educational resources provided. The schools varied from special schools (7); secondary schools (6) and primary schools (12) in Gloucestershire, Wiltshire and Oxfordshire and this year we were delighted to welcome back, after several years, The National Star College. Since Covid, The National Star College has been hesitant to arrange art visits out of the college. In 2024 we continued to build on the project from previous years that involved exhibiting artists to be part of the educational programme. We asked them to create educational activities based on their sculpture. We were delighted to invite 4 visiting guest tutors to join our programme, each bringing a unique and fresh approach to teaching. Each guest tutor was a specialist and the education team worked carefully to match their skills to the school group involved. Alison Lam, a neurodiverse artist worked with Brook Academy with the focus on supporting neurodiversity in art. Juli Bharchi, an experienced ceramicist, brought her knowledge of working in secondary schools; to the Dorkan Academy, she gave the students their first experience of clay. Alice Jennings, brought a multi-sensory approach to her clay and sound workshop and Esme Walker from The King's Foundation bought her knowledge of plaster restoration to a wonderful collaborative worship for the Watermoor primary school. An impact study was carried out. This is difficult as it is often subjective but gauged together with voices of the pupils and the feed back from teachers to have been a success. The next Fresh Air Sculpture exhibition will be from 14th June - 5th July 2026. ## **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. ## **FINANCIAL REVIEW** ## **Financial position** The Trust's unrestricted income for the year was £172,433 (2023: General funds £Nil) with expenditure of 105,561 (2023 - £27,203) giving a surplus of unrestricted funds for the year of £ 66,872 (2023: deficit for the year of£27,203). The carried forward unrestricted reserves are £157,430. The Trust's restricted income for the year was £2,000 (2023:£26,500) with restricted expenditure of £17,910 (2023: £7,621) giving a deficit of £15,910 (2023: surplus £18,879). The carried forward restricted reserves are £2,969. ## **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. Page 2 ueni ort of the Tnjstees for thc Year End¢d 31st December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organlsatlonal strueture The tnist deed provides for a rninimum of 3 and 8 maximwn of 5 trustecs. we￿ there a requIren￿nt for new trustees, these would be identified and appointed by the remaining tn]stees. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1071956 Prlntipal addr￿1 Qucnington Old Rectory Q￿enington Cirencester Gloucestershire GL7 5BN Trustees LA￿[ Smith B Abel Smith L Fit¢h L Russell E Bainbnd8¢ {r¢$ign¢d 2.9.24) GTOUP Capl G Reid (ap￿)Inted 6.3.25) Independent Examiner Peter Roberts FCA Roberts & Co (Bristol) LÉmit 24 High Stre¢t Chipping Sodbury Bristol BS37 6AH B4nker5 Lloyds Bank 14 Castle Street CITen￿ster GL7 IQJ ALCllUUtaDts AMM Bookkeeping & AccollDta¢)cy 4 LonEland5 wp.gt End Garderts Fairford GL7 4LG Appr by order of the board of tNst¢es on 24tb October 2025 and signed on its IKhalf by.. L Abel Smith- Truste Page 3 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 2024. ## **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. Peter Roberts FCA Roberts & Co (Bristol) Limited 24 High Street Chipping Sodbury Bristol BS37 6AH Date: .............................................24/10/2025 Page 4 Quenington Sculpture Trust ## Statement of Financial Activities for the Year Ended 31st December 2024 |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
7,098
**Charitable activities**
Education
1,420
Fresh Air Sculpture Exhibition
156,906
Fashion Show
2,307
Investment income
2
4,702
**Total**
172,433
**EXPENDITURE ON**
**Charitable activities**
Education
5,000
Fresh Air Sculpture Exhibition
96,055
Fashion Show
4,506
**Total**
105,561
**NET INCOME/(EXPENDITURE)**
66,872
**RECONCILIATION OF FUNDS**
Total funds brought forward
90,558
**TOTAL FUNDS CARRIED FORWARD**
157,430|Restricted
funds
£
2,000
-
-
-
-
2,000
16,910
-
1,000
17,910
(15,910)
18,879
2,969|31.12.24
31.12.23
Total
Total
funds
funds
£
£
9,098
26,500
1,420
-
156,906
-
2,307
-
4,702
-
174,433
26,500
21,910
7,621
96,055
27,203
5,506
-
123,471
34,824
50,962
(8,324)
109,437
117,761
160,399
109,437| |---|---|---| The notes form part of these financial statements Page 5 entn n Scul ture T B laTk¢¢ Sh¢¢t 31st December 2024 31.12.24 Total 31.12.23 Total Unrestricted Restricted Notes FIXED ASSETS Intangible assets Tangible assets 848 1383 1.592 3,824 1,383 2231 2.231 5,416 CURRENT A&SETS Debtor5 Cash al bank 500 108,534 163J97 2.969 166.566 163.657 2.969 166,626 109,034 CREDITORS AmouTrts falling due within one year {8.458) (8.45S) (5.011) NET CURREKf ASSETS 155.199 2.969 158.168 104,021 TOTAL.4SSETS LESS CiJRREwr LIABILITIES 157.430 160,399 109,437 NET ASSETS 157.430 2.969 160.399 109.437 FUNDS UTrrcslricied funds R¢stri¢ted fvnds 157.430 2.Y69 90.558 l Ll,879 TOTAL FUNDS 160,399 109,437 Th¢ financial sTaiemenTs were approved by the Board of Tn￿re¢S and authorised for issue on 24th Octob¢r 2025 and were signed on its beh41f by: L Ab¢1 Smith- Trustee The notes forni part of th¢se finan¢ial stst¢m¢nts Page 6 Quenington Sculpture Trust Notes to the Financial Statements for the Year Ended 31st December 2024 ## **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. INVESTMENT INCOME** |**INVESTMENT INCOME**||| |---|---|---| ||31.12.24|31.12.23| ||£|£| |Interest receivable - trading|4,702|-| continued... Page 7 Quenington Sculpture Trust Notes to the Financial Statements - continued for the Year Ended 31st December 2024 ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023. The trustee, L Abel Smith paid costs of £4.828 (2023: £Nil) on behalf of the charity. These were reimbursed during the year, at the year end £475 was owed to L Abel Smith and this was paid after the year end. The Trustee, L Russell paid costs of £389 (2023: £Nil) on behalf of the charity. These were reimbursed during the year. ## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
-
**EXPENDITURE ON**
**Charitable activities**
Education
-
Fresh Air Sculpture Exhibition
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
7,621
-
7,621
18,879
-
18,879|Total
funds
£
26,500
7,621
27,203
34,824
(8,324)
117,761
109,437| |---|---|---| continued... Page 8 Quenington Sculpture Trust Notes to the Financial Statements - continued for the Year Ended 31st December 2024 ## **5. INTANGIBLE FIXED ASSETS** |**5.**|**INTANGIBLE FIXED ASSETS**||||| |---|---|---|---|---|---| ||||||Computer| ||||||software| ||||||£| ||**COST**||||| ||At 1st January 2024 and 31st December 2024||||2,976| ||**AMORTISATION**||||| ||At 1st January 2024||||1,384| ||Charge for year||||744| ||At 31st December 2024||||2,128| ||**NET BOOK VALUE**||||| ||At 31st December 2024||||848| ||At 31st December 2023||||1,592| |**6.**|**TANGIBLE FIXED ASSETS**||||| ||**COST**|Plant and
machinery
£|Computer
equipment
£||Totals
£| ||At 1st January 2024 and 31st December 2024|928|6,684||7,612| ||**DEPRECIATION**||||| ||At 1st January 2024|535|3,253||3,788| ||Charge for year|232|2,209||2,441| ||At 31st December 2024|767|5,462||6,229| ||**NET BOOK VALUE**||||| ||At 31st December 2024|161|1,222||1,383| ||At 31st December 2023|393|3,431||3,824| |**7.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| ||Trade debtors||31.12.24
£
-||31.12.23
£
500| ||Prepayments|||60|-| |||||60|500| ||||||| continued... Page 9 Quenington Sculpture Trust Notes to the Financial Statements - continued for the Year Ended 31st December 2024 ## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Other creditors
**9.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds - Education
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds - Education
Restricted Funds - Fashion
**TOTAL FUNDS**|At 1.1.24
£
90,558
18,879
109,437
Incoming
resources
£
172,433
1,000
1,000
2,000
174,433|31.12.24
31.12.23
£
£
1,395
1,393
7,063
3,620
8,458
5,013
Net
movement
At
in funds
31.12.24
£
£
66,872
157,430
(15,910)
2,969
50,962
160,399
Resources
Movement
expended
in funds
£
£
(105,561)
66,872
(16,910)
(15,910)
(1,000)
-
(17,910)
(15,910)
(123,471)
50,962| |---|---|---| continued... Page 10 Quenington Sculpture Trust Notes to the Financial Statements - continued for the Year Ended 31st December 2024 ## **9. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |At 1.1.23
£
**Unrestricted funds**
General fund
117,761
**Restricted funds**
Restricted Funds - Education
-
**TOTAL FUNDS**
117,761
Comparative 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
A current year 12 months and prior year 12 months combined position is as follows:
At 1.1.23
£
**Unrestricted funds**
General fund
117,761
**Restricted funds**
Restricted Funds - Education
-
**TOTAL FUNDS**
117,761|Net
movement
At
in funds
31.12.23
£
£
(27,203)
90,558
18,879
18,879
(8,324)
109,437
Resources
Movement
expended
in funds
£
£
(27,203)
(27,203)
(7,621)
18,879
(34,824)
(8,324)
Net
movement
At
in funds
31.12.24
£
£
39,669
157,430
2,969
2,969
42,638
160,399| |---|---| continued... Page 11 Quenington Sculpture Trust Notes to the Financial Statements - continued for the Year Ended 31st December 2024 ## **9. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds - Education
Restricted Funds - Fashion
**TOTAL FUNDS**|Incoming
resources
£
172,433
27,500
1,000
28,500
200,933|Resources
Movement
expended
in funds
£
£
(132,764)
39,669
(24,531)
2,969
(1,000)
-
(25,531)
2,969
(158,295)
42,638| |---|---|---| ## **10. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st December 2024. Page 12 Quenington Sculpture Trust Detailed Statement of Financial Activities for the Year Ended 31st December 2024 |Detailed Statement of Financial Activities
for the Year Ended 31st December 2024||| |---|---|---| ||31.12.24|31.12.23| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|4,498|-| |Grants|4,600|26,500| |**Investment income**|9,098|26,500| |Interest receivable - trading|4,702|-| |**Charitable activities**||| |Catalogue and entrance fees|80,517|-| |Artwork commission and sales|77,222|-| |Other income|2,894|-| ||160,633|-| |**Total incoming resources**|174,433|26,500| |**EXPENDITURE**||| |**Charitable activities**||| |Sundries|938|26| |Consultancy and subcontract fees|50,863|16,829| |Exhibition costs|15,196|108| |Catalogue production costs|16,809|-| |Advertising and promotion|724|530| |Catering|3,506|-| |Shopify, ticket handling and credit card fees|5,327|38| |Education workshop expenses|5,179|7,621| |Courier and delivery costs|246|127| |Rent and services|2,113|-| |Ground maintenance|4,353|555| |Donations|5,270|4,176| |Secretarial services|-|400| |Subscriptions|131|35| |Computer expenses|2,050|930| |Motor and travelling|128|-| |Website costs|495|877| |Computer software|744|-| |Plant and machinery|232|-| |Fixtures and fittings|2,209|-| ||116,513|32,252| 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 2024||| ||31.12.24|31.12.23| ||£|£| |**Support costs**||| |**Finance**||| |Bank charges|18|39| |**Governance costs**||| |Accountancy and legal fees|6,940|2,533| |Total resources expended|123,471|34,824| |**Net income/(expenditure)**|50,962|(8,324)| |||| This page does not form part of the statutory financial statements Page 14