Charity registration number 1082004 Company registration numb•r 03958793 (England and Wales) DARTFORD ARTS CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
DARTFORD ARTS CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrJ Emery Dr M Kingham Mr D Oldcorn Mr P Scutls Miss V Slrellon Mr C Dorrian r J C Mel¢alf Charlly number 7082004 Company numbèr 03958793 R•gi$tsred office The Mick Jagger Centre Shepherds Lane Dartford Kent OA12JZ Indepèndent examiner Louise Hallsworth, FCA Baxter & Co Chartered Certified Accountants Lynwood House. Crofton Road Orpington Kent BR6 8QE Bankers Barclays Bank PLC Lowfield Street Dartford Kent DA1 IHD
DARTFORD ARTS CENTRE CONTENTS Page Trustees, report Independtsnl examinarfs report Slalemenl of linanaal actiwties Balance sheet Notes lo the finaneial statements 7-16
DARTFORD ARTS CENTRE TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 AUGUST 2023 The TTuslees present their annual report and finanual statements for the year ended 31 August 2023. The aonIS h8ve been prepared in accordance wlh the accounting poliaes set out in notè 1 to the accounts and comply with the charity's governing document, a deed of trust. the Companies A¢t 2006 and the Slalement of Recornmended Practi,,ACcountIng and Reporting by Charities" issued in Mar¢h 2005. Objectives and aetivittes The charity's objeels are lo advance education in Oartford and the suirounding area in the perfom)ing and visual arts and lo promote the benefit ol the inhabilanls of Dartford and the surrounding area by the provislon of facilit4.es in the interest of social welfare for recreation and leisuie lime occupation. The main objects and a¢tivilies for the year continue to focus on., Improving the conditions of life for the inhabitants of Dartford by providing. managing and making available a base for the practice, teaching. perfomiance 8nd recording of music and related other arts. To make thesè facilities available lo all inhabitants of Dartford generally and by those who may otherwise be exduded, Ihrouuh physical or mental disability, economic or, family or social arcuMstanS thereby encouraging the dest possible participation in the arts. strateges foraehieving alms and obieclives The strategies employed to assist the charily lo meet these cA)jectNies ¢onsisled of.. Offering the OPKX)rtunily for a broad range of the community lo gel involved in arts aclivilies. Providing a venue for use of local community art groups, for live music and for local groups and indwiduals to showcase their lalents. Public ben6fil The TrLJStees have pald due iegard lo guidance on publ1¢ benefit issued by the Charity Commission in deriding what aclniitie5 the charity should undertake. AGlivities Duiillg the year under remew the eènlr8 ¢onlinued to provide a venue for the use of local art groups and musical and dramatic performances and ils main aclivilies have revolvèd around the prowsion of music luilion with ils Dartlord Music School projed, funded from parental eontribulions, and the Red Rooster projèct, funded from contributions made by the Mick Jagger Foundation. Evening activities and private hires are now increasing post pandemi¢. The ¢enlre has taken over the managernenl of the leltings relating lo Be¢kel Sport Cenlre. Achievements and porformance Significanl aclivilies and achi6vemenls 8gainsl objectives Dartford Music School.. The centre continue5 to provide a range of music luilion for all ages and abililies. Thére were a number of people hawng weekly lessons in the centre prior lo August 2022. Thé R•d Roostèr Project. This is multi-faceted vènture which comrnenced in 2002 funded by 8 generous donation from Sir Mick Jagger who has rnaintained his support ever since. Ils aims are to Ènhance and exlend musical opportunities lor studenls in the Dartford area. It does this through planned outreach in local primary schods and through the running of afterschool sessions on Tuesdays. It has enabled hundreds of young people to have access to musical tuition. The response lo these projects has been tremendous.
DARTFORD ARTS CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Financlal review Dètails of financial transactions in the financial Slatemenls.. The Mick Jagger Centre does not receive any long lem revenue funding and is therefore dependant upoll charging for the use of its faalities lo meet ils running costs. The income is derived from three main sources, contract letlings and ad hoc hiring out ol facilities, funding from the Mick Jagger Foundalion IThe Red Rooster Project) and parental contributions in respect of music luilion provided under the banner of Dartford Music School IDMSI. InmIng resources from charitable activities amounted lo £567.5 for the year12022.. £424,956), olher incoming resour¢68 lolalled £6,56612022.' £3,284). Expenditure on ¢h8rilable activities was £540,952 {2022'. £423,090) whilst oiher expenditure amounted lo £2,095 12022.. £2.0081. Overall income for Ihe year exceeded expenditure by £31.484 {2022'. overall ineome for the year exceeded expendilure by £3,142), which when deducted from the opening balance ol funds brought forward, resulted in a balance of total funds al 31 August 2023 of £60,625 {2022'. £29,141). Funds at 31 August 2023 lotal £60,62512022'. £29,141) and comprise unrestricted general funds surplus of £58,625 12022.. £27.14118n unrestricted designaleLI fund of £2,00012022." £2,000). 11 is the aim of the Mid( Jagger CÈntre to maintain its unrestricted general reserves al a levèl Ihat would be sufficient to cover unavoidable running costs In limes where incoming resources are low and enable the replacement and acquisition of fixed assets when required. Major risks The trustees h8ve assessed the major rlsks lo which the ch8rily is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The Iruslees actively review the major risks which the company faces on a gUlar basis and believe that these reviews and quart8rly assessments of the financial position of the company will ensure sufficient resour¢@s in the advent ol adverse condilions. The trustee5 have also examined opèrational risks and confirm that they have established systems lo miligale significant risks. Structure, governance and management The charity is a Company limited by guarantee and is controlled by its governing documenl, a deed of trust. and constitutes a limited ¢ompany. limited by guarantee, as defined by the Companies Act 2006. The Trustees, who are also the directors for the purpose of company law, and who seNed during the year and up lo the date of sign81ure of the financial slalem8nts were.. MrJ Emery Dr M Kingham Mr D Oldcorn Mr P Sculls Mrs N J Booker IBusiness Manager- Dartfofd Grammar School) Miss V Slrelton Mr C Dorrian Miss N Franklin-Pierce Mr J G Mel¢alf (Resigned 5 September 2022) IRésigned 25 November 20231 Recnjitment and appoinlment ollruslees The Directois ol the charity are also the Trustees. Diredors are recruited on Ihe basis of the needs of the organisation taking into a¢¢ount existing experience of the board. None of Ihe TrLJslees have any beneficial interest in the company. All of the Trustees are mambers of the company and guarantee to contribute £10 in the evenl of a winding up.
DARTFORD ARTS CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Ooanis81nal SInlure The Board of Trustees administers the chaiity. The board meets quarterly and there are commillees covering development. membership and finan. The day to day responsibility of running th8 Mick Jagger Centre lies with the centre manager. R&lallonship with relaledparties The company is connected lo the Dartford Grammar School by way ol directors holding positions as follows.. Mrs P Meggs Dr M Kingham r J Met¢alf Member of Senior Management Team Member of Senioi Management Te8m Headmaster The Trustees. Report was approved by the Boaid ofTruslees. Kingham Trustse Dale.. J11gl4.J*...............
DARTFORD ARTS CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DARTFORD ARTS CENTRE I rèport to the TrusleÈs on my examination of the financial slaletnents of Dartford Art8 Gtsnlre (the charity) for the year ended 31 August 2023. Rèsponsibilities and basis of report As the Trusteès ol the charity (and also its directors for IhÈ purposes of company lawl yotj are responsible for the preparation of the finanaal statements in accordance with the requirements ol the Companies Acl 2006 Ilhe 2008 A¢tl. Having satisfied myself that the financial statements of the charity are not required lo bè audited under Part 16 01 the 2006 Act and a eligible for independent examination, I report in respect of rny examination of the charity's financial slalemenls carried out under section 145 of the Charities Act 2011 {the 2011 Acl}. In carrying out my examination I have followed 811 the applicable Dire¢lions given by Ihe Charity Commission under section 145151{bl of the 2011 A¢t. 11 is my responsibility lo.. examine the financial statements under section 145 of the Charities Aci.. lo follow the procedures laid down in the general Directions given by the Charity Commission {under sèction 14515llbl ol the Charities Acll and lo slate whether particular malters have come lo my allenlion My examination Was carried oul in accordan wlh general Directions given by the Charity Commission. An examinalion include5 8 review of the accounting re¢ords kept by the charity and a comparison of the financial slalemenls presented with those records. It also includés consideration of any unusual items or disclosures in the financial stalemenls, and seeking explanations from the Iruslees Concerning any such matters. The procedures undertaken do not pmvide all the eiridence that would be required in an audil, and Con$uentIY no opinion is given as lo whether the a¢nIS present a 'liue and fair, view and the report is limited to those matters set out in the slalemént below. Independent examln&rfs statement The chaiily's gross income exceeded £250,000 and l am qualrfied to undertake the èxamination by being 8 qualified member of the ICAEW. I have completed my examination. I confirm Ihal no matters have come lo my altenlion in conneelion with the examination giving me cause lo believe that in any material respeet.. accounting records were noi kèpt in respect of the charity as required by seclion 388 of the 2006 Aet; or the financial statements do nol accord with those records,. or the financial slalemenls do not comply with the accounting requirèments of section 396 01 the 2006 Act other than any requirement that thè accounts give a true and fair view which is not a matter considered as part of an independenl examination., or the financial sialemenls have not been prepared in accordance with the melhods and principles of Ihe S(alemenl ol Recommended Practice for accounting and reporiing by charities applicable lo charities preparing their accounts in accordan¢e with the Financial Reporb'ng Standard applicable in the UK and Rèpublic of Ireland IFRS 1021. I have no CernS and have come across no other mallers in eonneolion with the examination to whlch allenlion should be drawn in this report in order lo en8ble a proper underslandSng of the financial slalemenls lo be reathed. Loulse Hallsworth. FCA Baxter & Co Chartered Certified Accountants Lynwood House, Crofton Road Orpington Kent BR6 8QE Dated.. 24 Max.2024
DARTFORD ARTS CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 Unrèstricted funds 2023 Unrèstricted funds 2022 Notes Income and endowmènts from.. Charitable activities Other trading actiwlies Other income 520,710 47,255 6,566 424,956 3,284 Total income 574,531 428.240 Expenditure on: Raisino funds Charitable aelivilies 14,858 528,189 14,426 410,872 Total expendlturè 543.047 425,098 Net Income and movemènt in funds 31,484 3,142 Reconciliatlon of funds: Fund balan$ at I September 2022 29,141 25,999 Fund balances at 31 AugLtst 2023 60,625 29,141 The slalement of finanoial actiwlies indudes all gains and losses recognised in the year. All income and èxpenditure derive from continuing aclivilies.
DARTFORD ARTS CENTRE BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Notes Fixed assets Tangible assets 13 10.973 14,631 Curront assets Stocks Deblors Cash al bank and in hand 14 15 1,348 29.365 129,842 1,819 20.422 46,492 160,555 68,733 Creditors: amounts falling due within one year 16 1110,9031 {54.2231 Net turrènt assets 49,652 14,510 Total assets less eurrent liabilitie¥ 60,625 29.141 Net assets excludlng pension Ilablllty 80.825 29,141 The funds of th• charity Unrestiicled funds 60,625 29,141 60.625 29,141 The company is entitled to the exèmption from the audit requirement contained in section 477 01 the Companies Act 2(K16, for the year ended 31 August 2Q23. The directors acknowledge their responsibilities for ¢omplying with the requirement5 of the Companie5 A¢1 21KJ6 with respect lo accounting records and the preparation of financial statements. The mèmbers have not required the company lo obtain an audit of ils finanLial stal8menls for the year in question in accordance with section 476. Thesè financial slalemenls have been prepared in accordance with Ihe provisions applicable lo companies subject lo the small companies iegime. Th8 financial slalemenls were approved by the Trustee5 on .-..23 May.2024 Dr ustee Company registration number 03958793 (England and Wales)
DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting poll¢le$ Charlty infomiation Dartford Arts Centre is 2 PriV8le company limited by guaranteè in¢orporaled in England and Wales. The registèred Offi is The Mi¢k Jagger Centre, Shepherds Lane, Dartford. Kent, DA12J2. 1.1 Accounting convention The Iinancial statements have been prepared in accordance with the charity's deed of trust, the Companies A¢t 2006 and "Accounting and Reporting by Charitiès.. Statement ol Reeommended Practice applicable lo charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {as amended for accounting periods commencing from 1 January 20161. The ¢h8rily is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional ¢urrency of Ihe charity. Monetary amounts in these financial statements are rounded lo the nearest £. 1.2 Going concem Al the lime of approving the financial slalemenls, the Trustees have a reasonable expeelalion that the charity has adequate resources to continue in operational existence for the foreseeable fuluie. Thus Ihe Trustees continuè lo adopt Ihe going conrn basis of accounting in preparing Ihe financial stalemenls. 1.3 Charltablè funds Unrestricted funds are available for use al th6 discretion of the Trustees in furthèrance of their charitable objeclives unless the funds h8ve been designated for other purposes. There are eurrenlly no Reslri¢ted general fLJnd8 which would comp¥ise of funds te1Ved wth reslriclions imposed by the funderldonor. 1.4 Incomè Income is recognised when the charity is lègally entitled to il after any performance conditions have been mel, the amounts can be measured reliably, and il is probabl& that income will be received. Cash donations are reeognised on receipt. Other donations are recognised once the charity has been notifd of the donation. unless performancÈ oondilions require deferral ol the amount. Income lax recoverable in relation lo donations received under Gfft Aid or deeds of covenant is recognised at thè lirre of the donation. Legaaes are rewgnised on reeeipl or olheNise if the charily has been notified of an Impending distribution, the amount Is known. and receipt is expected. If the amount is not known, the legacy is Irealed as a contingent asset. Turnover is measured al the fail value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, nel ol discounts, VAT and other salas related taxes.
DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies Icontinuedl 1.5 Expenditure Expenditure is recognised once there is a legal or construclive oblioalion lo Iransler economic benefit lo a Ihiid party. it is probable that a transfer of economic benefits will be required in setllemenl. and the amount ol the obligation can be measured reliably. Expenditure is classified by aCtI7ty. Tho costs of ea¢h activity are made up of the total of direct costs and shared cos15, including 5UPPOrt costs involved in undertaking each 8¢tivily. Diie¢t costs attributable to a single aCtI11Y are allor8led directly lo that actiwly. Shared costs which contribute lo more than one activity and support costs which are nol attributable to a Singlè activity ale apportioned between those activities on a basis consislenl with the use of resources. Staff costs a allocated on the basis of lime spent, and depieeiation charges are allocated on the portion of the asset's use. Governance costs include the costs attributable to the charities compliance wilh constitutional and statutory requirements. All resources éxpended are inclusive of irrocoverable VAT. 1.6 Tangiblè fixed assets Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation. nel of depreciation and any impairrnenl losses. Depreciation is recognised so as lo vjrile off the cost or valuation of assets less Iheir residual values over their useful lives on the following bases.. Fixtures, fillings & equipment 25ts reducing balance The gain or loss arising on the disposal ol an asset is determined as the difference between the sale prOed9 and the carrying valLJe of the asset, and is recognised in the statement of financial aclivities. 1.7 Impaimient of fixèd assets Al each reporting end dale, the charity reviews the carrying amounls of ils tangible assets to delemine whether there is any indication that those asseis have suffered an impairment loss. If any such indication exists, th recoverable amount of the asset is estimated in order lo detèrmine the extenl of the impairment loss lif any). 1.8 Stocks Stock5 ale slated at the lower ol Cost and estimated selling price less costs to complete and sell. Cost comprises direct materia15 and, where applicable. diréct latur ¢c>sls and those overheads that have been inCUrd in brillging the stocks to Iheii present location and condition. Ilerns held for distribution al no or nominal consideration are measured the lower of replacement cosi and cost. Nel rèalisable valve Is the estimated selling price less all eslimed costs of ¢ompletion and costs lo be incurred In marketin9, sèlling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits hald al call with banks. other short-lerm liquid investments with original tnalurities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabilities.
DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Ae¢ounting policies {Contlnuedl 1.10 Financial Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and S&¢lion 12 'Olher Financial Instruments Issues, of FRS 102 lo all of its financial inslrumenls. Financial instruments are recognised in the tharily's balan sheet when the ¢h8rity becomes party to the contractual provisions of the Instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right lo set off the recognised arllounts and there is an intention to sellle on a nel basis or lo realise the asset and sellle Iha liabilily simultaneously. Basic financial assels Basic financial assets, which include debtors and cash and bank balances, are Inlllally measured at transaction Pri including transaction costs and are subsequently carried 81 amortised cost using the effeclive interest method Ljnless the arr8ngement constilules a financing Ir8n5aclion, where the transaction is measured at Ihe present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable vAthin one year are nol amortlsed. Basic financial liabilltlès Basic financial liabilities, including ¢redilors and bank loans are initially ré¢ognised al Iiansaction price unless the arrangerrent conslilules a financiT)g transsclion, where the debt inslrurnent is rreasured al the presènt value of the future payments discounted at a markel ralè of interesl. Financial Ilabilities classified as payable within one year are nol amortised. Debt instruments are subsequently cariied al amortised cosl. using the effective interest rale method. Trade creditors are obligations to pay lor goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as CLJrrenl liabiliti$s if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade crèditors are recognised initially al transaction price and subsequently measured at amortised cost using Ihe effective interest method. Dereeognition of financial liabilities Financial liabilities ar6 derecognised when the charity's ¢onlraclual obligations expire or are discharged or cancelled. 1.11 Retirement benefits Critlcal accountlng estimates and judgemènts In the applieatlon of the charity's aceounling pollcies, the Trustees are required to make judgements, èstimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual resulls may differ from these estimates. The estimates and underlying assumplions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods wheie the revision affects both current and future periods. Critical areas ofjudgement In prèparing thes8 Financial Si8temenls, the Trustees have not needed lo ex¢r¢ise any subjective judgtsments that would be exilical to the academy trust's Finanaal Slatemenls.
DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Income from charitable aetlvities Unrèstricted funds 2023 Unrestrictsd funds 2022 Music tuition income and artistic programme$ In¢oming resource Red Rooster Funding 283,9 86,545 221.509 85.263 Caterlng Incoming resource 24,571 21,900 Hire Charges Incoming resouree 125.625 98,284 520,710 424,956 Income from other trading activities Unre$trlcted Unrèstrlcted funds funds 2023 2022 Lelling 47,255 Other incomè Unrestrict•d Unrestricted funds funds 2023 2022 Other income 6,566 3,284 Expenditure on ralsing funds Unrestrlcted Unrèslrlcted funds funds 2023 2022 Ticket salès and box office commisslons Staff costs 14,858 14,426 fjo-
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DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 AUGUST 2023 Expènditure on Charitab activities (Continued) All charitable activities expendilLJre is unrestricted. £465.565 of undesignated funds and £77,482 of designated funds of Red Rooster expenditure. Support costs allocated to aetivltlès 2023 2022 Governance costs 2,095 2,008 Analysed bètwè•n: Music luilion income and artistic programmes 2.095 2.008 Nat movement ifi funds 2023 2022 The nel movèment in funds is slated after chargingllcrediting).. Fees payable for the Independenl exarninalion of the charity's financial slalements Deprecjation of owned tangible fixed as5els 2.095 3.657 2,IKJ8 4,876 10 Trustees None of the Trustees lor any persons connected with Iheml received any remuneration or expenses during the yeai. 11 Rècharged employeès The average monlhty number of recharged employees during the yearwas-. 2023 Number 2022 Numljer Management and administration Music tutors Catering 10 Total 14 14 Employment costs 2023 2022 Wages and salaries Social secuiily costs Other pension costs 149,818 10,787 25,816 103,986 7,029 15.258 186,421 126,273 12
DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 11 Recharyed employees Icontinuèdl There were no employees whose annual rèmuneralhjn was more than £60,0(KJ. Remuneration of key manag•ment personnel The Trustees are the kèy management, none ofwhom receive any remuneration. 12 Taxatlon The charity is exètnpl from laxation on 115 activilies because all its income is applied for d)arilable purposes. 13 Tanglblè fixed assets Flxturos. flttlng$ & èqulpment Cost At 1 September 2022 82,042 Al 31 AugLJSt 2023 82,042 Depreciation and Impairment Al 1 Seplernber 2022 Depreciation L*Jarged in the year 67.412 3,657 Al 31 August 2023 71,069 Carrylng amount At 31 August 2023 10.973 Al 31 August 2022 14,631 14 Stocks 2023 2022 Finished goods and goods for resa16 1,348 1,819 15 Debtoys 2023 2022 Amounts falling due wlthin one year: Trade debtors 29,365 20,422 13
DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 16 Creditoys: amounts falling du• within one yèar 2023 2022 Notès Defèrred income Trade creditors Olher creditors Accruals 17 38,805 51,495 18.508 2,095 20,976 29,270 1,982 1.995 110,903 54,223 17 Deferred Income 2023 2022 Olher deferfed income 38,805 20.976 Deferred incorne is included in the financial staiements as follows,. 2023 2022 Deferd income is Induded within: Current liabilities 38,805 20,976 Movements in the year.. Deferred income al 1 September 2022 Released from previous peiiods Resources deferred in the year 20.976 120,796) 38,625 7,820 17,8201 20,976 Deferred incorne a131 August 2023 38,805 20,976 Deferred in¢ome balances late lo Red Rooster fees of £11,46012022'. £7,000), Sports Hall income of £5,0( 12022.. £5,417) and hire income of £22,33912022'. £8,559). 18 Retirement benefit schemes 2023 2022 Definèd contribution schemes Charge to profit or loss in respeci of defined contr¢bulion schemes 25,818 15,258 Tho eharily operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from Ih05e ol the charity in an independenlly administered fund. 14-
DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 19 Unrestrictad fund8 Tho unreslrKted funds of the charity comprise the unexpended balanctss of donations and grants which are not subject to spè¢ific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the liuslees lor specthc purposes. At1 Sèptember 2022 Incoming resources Resoue$ At 31 August expended 2023 Dartford Grammar School General funds 2.(KlO 27,141 2,000 58,625 574.531 1543,0471 29,141 574,53f 1543,0471 60,625 Previous year: At1 Sèptember 2021 Incoming résources Resources At 31 August èxpended 2022 Dartford Grammar Schcx)I General funds 2,000 23,999 2,000 27,141 428,240 {425,0981 25,999 428,240 1425,0981 29,141 Unrestricted funds include a designated fund representing long term fLJnding provided lo the charity by Dariford Grammar School. 20 Analysis of not assets befvJo•n funds Unrestricted funds 2023 At 31 August 2023: Tangible assets Currelll asselsllliablliliesl 10,973 49.852 60,625 Unrestrlcted funds 2022 At 31 August 2022: Tangible assèts Current asse1([12bIIiIies1 14.631 14.510 29,141 15-
DARTFORD ARTS CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 21 Related party tran8action$ D8rtlord Grammar School, a company incorporated in England and Wales (company number 074061221 is a related party by rtu8 of the fact it has Trustees and Senior Staff in common. Dartford Arts Centre reimbursed Dartford Gratnmar School for staff and other costs incurred during the year of £191,36312022'. £138,034), income of £63712022.. £1,022) The balance owed lo Dartford Grammar School 8131 August 2023 was £54,60112022'. £24,610) and is included in creditors due within one year. 22 Members, Ilablllty Each member of the charitable company uNdert8kes lo contribute lo the assets of the company in the event of il being wound up while he or she is a member. or within one year after he or she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he or she ceases to be a member