## ## ## ## ## ## ## The Quilt Association Limited Company No 03284386 Charity No 1080218 Financial Statements Year ended 30 November 2020 The Quilt Association Limited Directors, Report for the year ended 30 November2020 Registered number 03284386 England and Wales Charity number 1084218 The Directors present their report and accounts of the company for the year ended 30th November 2020. Principal Activity and Status The Quilt Association is established to promote and educate the general public in respect of patchwork and quilting in particular and textile arts and crafts in general and to encourage and foster the development of local, national and international networks for the educational, cultural and att.istic exchange and sharin8 of knowledge, skills and ideas in these activities. The company is limited by guarantee and is a registered charity. Directors The followlng served as direttor5 during the year - Mr5 D Gough Ire5i8ned December 20191 Ms LArundale Mrs S Davis Mrs N Mccrory Mrsj Morrison Mrs C Ryles M rs C Shercllff Revlew The year from December 2019 to the end of November 2020 has been unprecedented. Durir)8 the flrst part of the year until the lockdown in March 2020 the centre wa5 h05t to two or8anisatlons'. Christmas Craft Falr (November- December) and Vintage Style (February- March). We continued to hbre meeting space to community groups including the Welsh Herita8e QulSters, Mid Wales Embroiderers, Minerva Textiles and the Llani Losers Slimming Group until mid-march 2020 when all hirings ceased. Frorn that date until the end of November 2020 only one event took place in Minerva. We managed an exhibition of some ofour smaller items from the collection- entitled Little Treasures, This was open for lust two half-days a week from 12th September to 17th October. Prior to this, using the grant we received from Welsh Government. we made Sure that our building and our procedure5 would be Covld safe and comply with government and county council guidelines. We did a complex risk assessmeAt to be adhered to by Trustees and our volunteer5 and revised our conditions of hire accordinglyi to ensure our hirers would play their part in keeping staff and vi51tor5 Sale. Whilst the building was closed the Board of Trustees continued to meet monthly online vla Zoom Conferencing. We took stock of our situation and decided to use the time to our advantage by doing long overdue work on the building. We swapped our Quilt Store and our equipment storeroom around, extending the latter to increase the capacity so that we can now store our quilts safely and with roorn for manoeuvre and expansion. We can now access the quilts much more readily. Whilst our builders were in situ. they also did several other jobs for us and in October we ordered some new, lightweight eKhibition Screens to replace the one5 we discarded. Another major expense this year has been the completion of repairs to the flat enabling us to install a new tenant In February 2020. In February we also opened a Localgiving account. with one yearfs free membership CDurtesy of PAVO. This enables our supporters to donate to us online and we a150 benefit from the Gift Aid scheme if our donors are tax-payers. Membership of the Quilt Association was 26 full Member5 plus 18 Friend5 at 30 November 2020. Education Pyogramme City and Guilds - of the three remaining student5 at the beginning of the year one graduated and the other withdrew. As we are no longer offering this distance learning ¢ourse thls completes our Involvement in the City and Guilds programme. Movlng Forward 8y using the perlod of lockdown to ensure that our building, equipment and procedures are In good order, the Trustees feel that we can. once thin8s are on a more normal footing, resume our activities confident that the Assoclation is in a strong and sustainable positlon. Given the Increasing use of online payments over the last twelve months we now plan to buy a card reader lo use in Minerva 50 that V151tors can make purchases or donation5 Wlthout the need for anyone to handle cash. The Directors have an ongoing process of risk assessment and policy development wlth regard to the operation of the charity. The Directors have had due regard to the Charity Commission guidance on public benefit in planning our activities. Thi5 report has been prepared in accordance with the special provisions for small companies under part '15 ofthe Companies Act 2006. By Order of the 8oard ,k 2021 /F"AvJ' Mr5 N Mccrory Dlreceor and Company Secretary Registered Office.. Minerva Arts Centre 2 High Street Llanidloes Powys SY18 6BY The Quilt Association Limited Regist&rnd No.. 03284386 England and Wajes Charity No.. 1080218 stat&menl of Flnanclal Activitias for thè year ended 30 November 2020 Income and Expandlture Unrestrf¢ted R¢$triGt¢d Funds Funds Total 2019 Incomg Exhibition, Sales & Workshops Rent$ Re¢eived Memberships Donations Grant Receivéd Icovidl 277 7,013 860 2,255 25,000 277 7,013 660 2,255 25.000 9,388 6,669 675 1,802 Totsl Incom• 35.205 35,205 18,534 Expendlture Summer Sn¢)w Work9hop and Cour$& Expenses Carrlage, Postage & s￿t￿nery Marketing Telephone Water Ral8s Heal & Light Insurance Premiseg Costs, Repairs & Renewals A¢Gounlan¢y & Professional Fees Website Design & Translation D8preeial,,on R&lease of Capital Grants Sundry Expenses Flnance Charges 3,206 1,748 239 202 744 829 278 1,660 2,936 10,193 800 498 8,804 15781 93 30 239 202 744 829 278 1,660 2,938 10,193 800 498 6,804 15781 93 30 1.739 989 473 2,565 2,888 18,977 800 270 7,792 15781 77 32 Total Expenditure 24,728 Not In¢omelExp¢nditure lor the Year 10,477 10,477 122.5071 Fund 8alances brought forward 437,093 137,093 159,600 Translèrs betweén Funds Fulld Balances Garried forward 147,570 147.570 137,093 There are no reciyJnlsed gains or losses lor the year other than the net exp8ndilure for the year The Quilt Association Llmlted Registered No.. 03284386 England and Wales Chartty No.. 1080218 2019 Balance Sheet as at 30 Noveml)er 2020 2020 FIx8d Assets Tangible Assets 145,382 152,185 Current As$¢ts Cash al Bank Cash on Hand 26.044 149 26.193 9,567 52 9,619 Crgdltor8: amounts falling due within one year 2.345 2,473 N•t Curronl A880ts 23.848 7,146 Total Asgets 1888 Currènt Llabllitlo8 169,230 159,331 Cradltors.. amounts falling due aftér more than one year 21.660 22,238 Net A85ets 147,570 137,093 Funds 147,570 137,093 The company was enb'lled to exempJ"on from audit under s477 of thg Companies Act 2006 relating ID small companies. The mernbers have not required the company to obtain an audit in accordance wlh section 476 of the compa.iyés Act 21306. The directors acknowledge their responsibilities for complying with the requirements of the Companies A¢1 with respect lo accounting records and the prèparation of accounts. Thèse attounts have been prepared in accordance with the prowsions applicable lo small companies $ubje¢l 1¢ the small companies regime and in accordance with FRS102 SORP. These financial ststements were approved by the board of directors on .. and were signed on ils behalf by.. Mrs J Morrison Directof The Quilt Association Llmlted Note8 to the A¢counts for the ygar ended 30 Novgmber 2020 The company became registered as a charty on 5 April 2000 and 1$ limited by the guarantee of its members and is incorporated within the meaning of the Companies Acts. Statement of Directorn. Responslbllities Company law requires the directors to p￿part financial statement$ for each fi'nancial year which give a true and fa'.r view of the Stale ol affairs of the Company and ol the profit or loss of the Gompany for that perityj. In preparing thesè financial statements, the dire¢lors are reqbired lo.. Select suitable accounbng poI￿leS and then appty them conslstenlly, Make judgments ané eslimales that are reasonable and prudent. Prepare the financial statements on ihe going concem basis unless 1115 inappropriate to presume that the company wll remain in business. bl The dir8Ctors are responsible for keeping proper accountsng records which dlsd05è with reasonable a￿uracY al any time the financial po$ib'on of th8 company and to enable them 10 6rtsure that the financial 51alemenls comply with th8 Companies A¢15. They are also responsible for Safeguarding the assets of the company and hence for taking reasonable slep5 for the prevention and detecb'on of fraud and other ifregularities. Accountlng Pollcle• These accounts are presented in the fomiat of charity accounts. The following accounting policie5 have been applied ¢onsislenlly in dealing with items which are considered material in relation lo the company's financial statements. Basis of Accounting These accounts have been prepared under the historical cost convention, In accordance with the Charities Ststement of Recommended Pracli¢e.' Accounting and Reporting by Charities pr&paring their accounts in ac¢ordance wth the Financial Reporting StandarJ applicable in the UK and Republic of Irèland IFRS1021 issued on 16 July 2014 updated February 2016, and wth the Financial f