## ART IN THE PARK (A company Limited by Guarantee) ## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 Company Reg. No 3686294 Charity Reg. No 1074551 PRIM & PROPER SERVICES LIMITED IMPACT BRIXTON 17a ELECTRIC LANE BRIXTON LONDON SW9 8LA . YEAR ENDED 31st MARCH 2024 CHARITY DETAILS ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS ## **TRUSTEES** Sarah Jury (Director) - Appointed 19/3/19 Henry Long (Director) - Appointed 6/11/18 Zoe Long (Director) - Appointed 6/11/18 Florence (Director) - Appointed 26/9/23 Helen Burgess (Director) Cynthia Smith (Director) ## **PRINCIPLE OFFICE** Chumleigh Gardens Burgess Park London SE5 0RJ **COMPANY NUMBER** 3686294 **CHARITY NUMBER** 1074551 **BANKERS** HSBC 23 Denmark Hill Camberwell Green London SE5 8RP **INDEPENDENT EXAMINER:** Prim & Proper Services Ltd Impact Brixton 17a Electric Lane, Brixton London SW9 8LA | page: 2 ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS TRUSTEES’ REVIEW YEAR ENDED 31st MARCH 2024 ## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31[st] MARCH 2024** The trustees present their report along with the financial statements of the charity for the year ended 31[st ] March 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 10 to 12 and comply with the applicable law. ## **TRUSTEES** The trustee’s names on page 2 have served throughout the year. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. ## **AIMS AND OBJECTS** Art in the Park exists to: - Promote, maintain, improve and advance education by encouragement of the arts; - Encourage and assist people in the understanding and practical support of the natural and built environment; - Provide art based facilities for recreation or other leisure time occupation in order to improve the conditions of life of those people who have need of such leisure facilities by reason of their youth, age, infirmity, disablement, poverty or socio-economic circumstances. - Increase awareness of disability issues among non-disabled people and organisations. In setting objectives, developing strategies and undertaking activities, the trustees have given careful consideration to the Charity Commissions general guidance on public benefit. ## **ACHIEVEMENTS AND PERFORMANCE - PLEASE REVIEW AND UPDATE THIS SECTION THOROUGHLY BEFORE SUBMISSION.** Trustees were pleased to see an increase in income this year, and the variety of projects for the local community that this enabled. The Board is also aware that we must continue this increase to ensure the survival of Art in the Park for future users. This year we welcomed funding from many sources including repeat funders Southwark council, Southwark Charities, United St Saviours, Bede House Association, Elephant Community Hob, Rotherhithe consolidated charities, Community Southwark, Partnership Southwark, Neighbourhood fund, Urban Elephant and the National Trust. Our community Artists and Volunteers continued to run classes throughout the Borough and to a wide variety of users. Through a | page: 3 ## ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS variety of funding bodies we have succeeded to sustain the Chumley Older Drawing Group workshop on Mondays, and the Intergenerational Saturdays workshop, weekly, throughout this financial year. Trustees and Artists welcomed Florence Goodhand-Tait back to join the board of trustees. Florence is a returning face, having previously served as a Lead Artist. Our financial position at the end of March 2024 reflects several grants that are still in progress and were not due to be spent out at that time. | page: 4 ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS TRUSTEES’ REVIEW YEAR ENDED 31st MARCH 2024 ## **FINANCIAL REVIEW** For the year ended 31[st] March 2024 the trustees consider the financial position of the charity to be in line with expectations. The results of the years' operations are set out in the attached financial statements. During the year, the income of £50,537 was received against the expenditure of £50,014. The surplus for the year was £523. ## **RESERVES POLICY** The Trustees have considered the level of reserves they wish to retain appropriate to the charity’s needs. This is based on the charity’s size and the level of commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil their charitable objectives. ## **RISK REVIEW** The trustees conduct periodic reviews of the major risks to which the charity is exposed and systems and procedures to manage those risks identified are implemented so as to minimise any potential impact on the charity should any of those risks materialise. | page: 5 ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS TRUSTEES’ REVIEW YEAR ENDED 31st MARCH 2024 ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to: - a) select suitable accounting policies and apply them consistently; - b) make judgements and estimates that are reasonable and prudent; - c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; - d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records which 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 1993. 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. ## **APPROVAL** This report was approved by the trustees on 10th December 2024 and signed on their behalf. ## **Sarah Jury** **Name - Trustee** ## **Florence Goodhand-Tait** **Name - Trustee** | page: 6 ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS INDEPENDENT EXAMINERS REPORT YEAR ENDED 31st MARCH 2024 ## **Independent Examiners Report** I report on the accounts of the Charity for the period ended 31[st] March 2024 which are set out on pages 8 to 12. ## **Responsibility of Examiner** The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act; and - state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that: - a. proper accounting records are kept; and - b. accounts are prepared which agree with the accounting records. Or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: GOAyanfalu Date: 30/11/2024 Grace Ayanfalu, MICB Prim & Proper Services Ltd Impact Brixton 17a Electric Lane London SW9 8LA | page: 7 ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS INCOME AND EXPENDITURE YEAR ENDED 31st MARCH 2024 ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2024** The notes form part of these financial statements. **Statement of total recognised gains and losses.** The Charity does not have any gains and losses other than the Income and Expenditure for the period to report. AS AT 31st MARCH 2024 BALANCE SHEET | page: 8 ## ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS - For the year ending 31st March 2024, the Directors of the company was entitled to exemption from audit under section 477(2) of the Companies Act 2006. - The members have not required the company to obtain an audit in accordance with section 476 of the Act. - The directors acknowledge their responsibilities for complying with the requirements of Companies Act 2006 with respect to accounting records and the preparation of accounts. - The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. These financial statements were approved and signed by the trustees on the of December 2024: ________ ~~_~~ _____________________ Trustee Date: 17.12.24 Trustee Date: 10.12.24 ______________ ~~_~~ _______________ | page: 9 ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2024 ## **1. ACCOUNTING POLICIES** The principal accounting policies adopted in the preparation of the financial statements are as follow: - 1.1 Basis of accounting The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities. ## 1.2 Incoming resources Donations and similar incoming resources are accounted for on receipt by the charity, any pledges of income also gift aid refunds are accrued in the accounting period that they arise. ## 1.3 Investment income Investment income consists of interest received from saving and deposit accounts at the bank. ## 1.4 Resources expended Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT that cannot be recovered. ## 1.5 Fund accounting Funds held by the charity are: - Restricted - these are funds which can only be used in accordance with the charitable specific purpose; - Unrestricted (general funds) - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. | page: 10 ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2024 ## 1.6 Depreciation Tangible Assets Individual fixed assets costing £1,000 or more are capitalised at cost. Depreciation is provided a on assets in order to write off their cost less any residual value over their estimated useful. There were no fixed assets during this financial year. ## 1.7 Staff costs and trustees' remuneration | page: 11 ART IN THE PARK (A company Limited by Guarantee) FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2024 ## 1.8 INCOME AND EXPENDITURE ## **2. RELATED PARTY TRANSACTIONS** The charity was under the control of the Trustee throughout the current year. No transactions with related parties were undertaken such as that required disclosure. | page: 12