| Page | |
|---|---|
| Directors andotherinformation | 1 |
| Directors report | 2 |
| Statement of income and retained earnings | 3 |
| Statement of financial position | 4-5 |
| Notes to the financial statements | 6-9 |
| 2023 | 2022 | |
|---|---|---|
| Note | E | t |
| Turnover | 211,294 | 352,428 |
| Cost of sales | ||
| Distribution costs | (26,347) | (37,469) |
| Administrative expenses | {218,413) | (203,620) |
| Operating(loss)/profit | (33,466) | 111,339 |
| (Loss)/profitbeforetaxation | (33,466) | 111,339 |
| Taxon(loss)/profit | ||
| (Loss[profitforthefinancialyear andtotal | ||
| comprehensive income | (33,466) | 111,339 |
| Retainedearningsatthe start of theyear | 225,745 | 114,406 |
| Retainedearningsatthe endofthe year | 192,279 | 225,745 |
| All the activitiesofthe company arefromcontinuing operations. | - |
| Societyf | orthe AdvancementofBlackArts(SABA) | orthe AdvancementofBlackArts(SABA) | orthe AdvancementofBlackArts(SABA) | ||
|---|---|---|---|---|---|
| Statement of financialposition | |||||
| 31May | 2023 | ||||
| 2023 | 2022 | ||||
| Note | t | t | t | t | |
| Fixedassets | |||||
| lnvestments | 6 | 20,000 | 20,000 | ||
| 20,000 | 20,000 | ||||
| Current assets | |||||
| Debtors | 7 | 149,831 | 135,298 | ||
| Cash at bank and in hand | 53,261 | 105,288 | |||
| 203,092 | 240,586 | ||||
| Creditors: amountsfallingdue withinone year |
I | (4,302) | (2,650) | ||
| Netcurrent assets | 198,790 | 237,936 | |||
| Total assets less currentliabilities | 219,790 | 257,936 | |||
| Creditors: amountsfallingdue | |||||
| aftermorethanone year | 9 | (26,511) | (32,191) | ||
| Netassets | 192,279 | 225,745 | |||
| Capitalandreserves | |||||
| Profit and loss account | 192,279 | 225,745 | |||
| Shareholdersfunds | 192,279 | 225,745 |
| The average number of persons employed Tangible assets |
bythe company dur | ing the year am | ountedtoNil | (2022:Nil). |
|---|---|---|---|---|
| Freehold | Plant and | lvlotor | Total | |
| property | machinery | vehicles | ||
| Gost | t | t | € | t |
| At1June2A22and31May 2023 | 12,500 | 4,082 | 8,400 | 24,992 |
| Deprcciation | ||||
| At1June2A22and 31May2028 Carrying amount |
12,500 | 4,082 :_: |
8,400 :.--- |
24,992 |
| At31May2023 | ||||
| At31May2022 | - | - |
| 6. | lnvestments | ||
|---|---|---|---|
| Loans to | Total | ||
| group | |||
| undertakings | |||
| and | |||
| participating | |||
| interests | |||
| e | E | ||
| Cost | |||
| At1June2A22and31May2023 | 20,000 | 20,000 | |
| lmpairment | |||
| At1June2Q22and 31May 2023 | |||
| ----- | |||
| Garryingamount | ---- | ||
| At31May2023 | 20,000 | 20,000 | |
| At31May2022 | 20,000 | 20,000 | |
| - | |||
| 7. | Debtors | ||
| 2423 | 2022 | ||
| t | s | ||
| Other debtors | 149,931 | 135,298 | |
| ._ | |||
| L | Creditors: amountsfallingduewithinone year | ||
| 2023t | 2022 c |
||
| Social security and other taxes | 752 | ||
| Other oreditors | 3,550 | 2,650 | |
| 43a2 | ,s50 | ||
| -..-----_.- | |||
| 9. | Creditors: amountsfallingduealtermorethanone year | ||
| 2023 | 2022 | ||
| t | € | ||
| Bank loans and overdrafts | 26,511 | 32,191 | |
| 10. | Directorsadvances,creditsandguarantees |
| 2023 | 2422 | |
|---|---|---|
| E | g | |
| Turnover | ||
| Sales | 7,500 | 14,124 |
| Event SaleswithDonations | 9,755 | 10,982 |
| Grants | 194,039 | 327,326 |
| 211,294 | 352,429 | |
| Grossprofit | 2',11,294 | 352,428 |
| Grossprolitpercentage | '100.0% | 100.0% |
| Overheads | ||
| Distributioncosts | ||
| VenueHire | {26,347) | (37,469) |
| Administrative expenses | ||
| Temporary Staf{ | (11,893) | (5,821) |
| Staff training | (8,338) | (12,798) |
| Management expenses | (49,589) | (45,239) |
| Rent payable | (15,140) | (29,257) |
| Rates | (2,633) | (77e) |
| $ervicecharges | (27,045) | (30,996) |
| lnsurance Light and heat |
(4,687) (3,842) |
{3,882) (4,273| |
| Repairsandrnaintenance | (280) | (1,550) |
| Printing, postage and stationery Advertising Telephone |
(12,689) (9,322) (6,801) |
{11,622) t7,229) (7,O77) |
| Computercosts | (14,182) | (10,995) |
| Hire of equipment | (7,766) | (7,410) |
| Motor expenses | (4,130) | (3,05't) |
| Travelling and entertainment | (5,346) | (2,633) |
| Legal and professional Consultancy fees |
(10,8e0) (16,845) |
i2,626) (11,290) |
| Accountancyfees | (1,110) | (2,070) |
| Bank charges | (e75) | (1,126| |
| Subscriptions | (4,e10) | (1,8s7) |
| t2M,76q | (241,089) | |
| Operating(loss)/profit | (33,466) | 111,339 |
| Operating(loss)/profitpercentage | 15.8% | 31.6% |
| (Loss)lprofitbeforetaxation | (33,466) | 't11,339 |