DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
Registered number: 04279862 Charity number: 1092147
QUEENS PARK ARTS CENTRE LIMITED
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 - 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 - 11 |
| Notes to the financial statements | 12 - 25 |
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022
| Trustees | Peter Cooper, Chair |
|---|---|
| Stephen Terry, Vice Chair | |
| Tony Tomblin, Treasurer | |
| Dan Clucas | |
| Nick Hazle | |
| Rofaida Makki | |
| Nidhi Mehta | |
| Penelope Thorne (appointed 29 September 2022) | |
| Company registered number 04279862 Charity registered number 1092147 Registered office Queens Park Aylesbury Buckinghamshire HP21 7RT Company secretary Sarah Lewis Accountants Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes Bucks MK9 1NA Bankers Lloyds TSB Aylesbury Buckinghamshire Solicitors Horwood and James 7 Temple Square Aylesbury Buckinghamshire |
Page 1
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022
The Trustees present their annual report together with the financial statements of the Queens Park Arts Centre Limited for the 1 September 2021 to 31 August 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission.
The purpose for which the Trust has been established is to resource and develop a multi-disciplinary arts centre and theatre for people in the Aylesbury area and beyond, which supports a broad range of quality creative arts and crafts opportunities that are accessible, relevant and rewarding.
-
To initiate, develop, promote and manage quality opportunities in a range of creative arts disciplines across all levels of knowledge, experience and ability.
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To encourage and develop access to and participation in the creative arts by all members of the community.
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To manage and develop the resources necessary to make opportunities equally available to all members of the community.
The Charity provides access to 100 weekly workshops for children and adults. Holiday workshops for children, regular longer length courses for adults, as well as Sunday Special workshops, which are one day professionally led workshops in dance, arts and crafts several times a year.
Exhibitions for community and professional artists in the gallery space ‘Artisan’.
Community and professional performances of plays, music, comedy and dance in the Limelight Theatre on Friday and Saturday evenings.
Page 2
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
Achievements and performance
a. Review of activities
Having established its position and reputation as one of Britain’s largest independent Arts Centres, Queens Park Arts Centre provided a comprehensive programme of creative and cultural activity for all ages and abilities, significantly contributing to the cultural landscape in Buckinghamshire for the year 1 September 2021 to 31 August 2022, despite the ongoing challenges of a post Pandemic world and the increase in baseline costs.
As well as the comprehensive offer of arts and crafts workshops and theatre performances, Queens Park Arts Centre continued to work, support and promote, its inhouse partners – SDSD; a local dance and performing arts school based in the purpose-built dance studio at Queens Park Arts Centre, and Unbound, a thriving storytelling production company, also based in Queens Park Arts Centre. Artisan continued to showcase a broad range of professional and community artists and makers.
In addition to project funding, Queens Park Arts Centre benefited from its stable core funding provided by longstanding supporter, the William Harding’s Trust, as well as annual core funding from Buckinghamshire Council.
In addition, Queens Park Arts Centre planned for the expected annual loss, a result of the post Pandemic period where it had been anticipated that audiences and attendees would be reduced, by utilising the surplus provided by the Cultural Recovery Fund. This careful planning meant that Queens Park Arts Centre was able to start the new financial period with appropriate levels of working capital and reserves.
Financial review
a. Reserves policy
The Charity has set aside designated reserves that would be due to the current employees if the Centre faced closure.
Page 3
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
b. Principal funding
Voluntary help and donations in kind
Queens Park Arts Centre operates in a unique way - over 40% of its inhouse workshops are run by volunteer tutors who claim expenses but no remuneration. Volunteers also help with fund raising and administration.
Investment Powers
Investment powers are stated in the Memorandum and Articles. The charity does not currently hold any investments.
Risk Management
The Treasurer together with the trustees carries out regular reviews of the activities of the charity and of the systems in use. This is for the purpose of planning for the future and assessing and managing any major risks likely to affect the operation of the Trust. The trustees are satisfied that the systems are in place to mitigate exposure to major risks.
Page 4
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
Structure, governance and management
a. Constitution
Queens Park Arts Centre Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. The Directors are also the Trustees.
b. Methods of appointment or election of Trustees
Directors/Trustees are elected for a three year period in accordance with provisions set out in the Memorandum and Articles of Association, with a third retiring at the end of each year. Retiring Directors may offer themselves for re-election at the Annual General Meeting.
c. Policies adopted for the induction and training of Trustees
Trustees induction and training is performed by way of attendee to meetings and being passed regulatory literature for the charity.
Funds held as custodian
In the case of closure any assets would be transferred to a charity with similar objectives.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Tony Tomblin
Date: 17-01-2023 | 19:00 GMT
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022
Independent examiner's report to the Trustees of Queens Park Arts Centre Limited ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 August 2022.
Responsibilities and basis of report
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed:
Dated: 23-01-2023 | 14:16 GMT
Neal Carter ACA
Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes Bucks MK9 1NA
Page 8
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022
| Note Income from: Donations and legacies: 3 Arts Council Grant carry forward . Other donations and legacies Charitable activities 4 Other trading activities 5 Investments Other income 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ - 42,256 188,002 - 462 - 230,720 5,000 265,849 270,849 (40,129) 306,599 (40,129) 266,470 |
Restricted funds 2022 £ - - - - - - - - 1,524 1,524 (1,524) 71,057 (1,524) 69,533 |
Total funds 2022 £ - 42,256 188,002 - 462 - 230,720 5,000 267,373 272,373 (41,653) 377,656 (41,653) 336,003 |
Total funds 2021 £ 65,000 168,096 87,002 10 22 28,447 |
|---|---|---|---|---|
| 348,577 | ||||
| 5,000 229,234 |
||||
| 234,234 | ||||
| 114,343 | ||||
| 263,313 114,343 |
||||
| 377,656 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 25 form part of these financial statements.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee) REGISTERED NUMBER: 04279862
BALANCE SHEET AS AT 31 AUGUST 2022
| Note Fixed assets Tangible assets 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
500 16,913 177,900 195,313 (13,580) |
2022 £ 154,270 154,270 181,733 336,003 336,003 336,003 69,533 266,470 336,003 |
500 17,862 229,168 247,530 (26,290) |
2021 £ 156,416 |
|---|---|---|---|---|
| 156,416 221,240 |
||||
| 377,656 | ||||
| 377,656 | ||||
| 377,656 | ||||
| 71,057 306,599 |
||||
| 377,656 |
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee) REGISTERED NUMBER: 04279862
BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2022
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Tony Tomblin Date: 17-01-2023 | 19:00 GMT
The notes on pages 12 to 25 form part of these financial statements.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1. General information
Queens Park Arts Centre Limited is a Charity limited by guarentee incorporated in England and Wales within the United Kingdom.
The company's principal activity is that of providing arts to all to the local community.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Queens Park Arts Centre Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 12
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
| Plant and machinery | - | 20% straight line |
|---|---|---|
| Computer equipment | - | 33% straight line |
2.6 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
2. Accounting policies (continued)
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.10 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
3. Income from donations and legacies
| Grants Arts Council Grant carry forward Grants Grants Arts Council Grant carry forward Grants |
Unrestricted funds 2022 £ - 42,256 Unrestricted funds 2021 £ 65,000 168,096 233,096 |
Total funds 2022 £ - 42,256 Total funds 2021 £ 65,000 168,096 |
|---|---|---|
| 233,096 |
The Cultural Recovery Fund, administered by The Arts Council, included an amount of £65,000 for 2021 which was intended to be carried forward into the 2022 financial year.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
4. Income from charitable activities
| Arts & Crafts & Theatre Arts & Crafts & Theatre 5. Income from other trading activities Income from fundraising events |
Unrestricted funds 2022 £ 188,002 Unrestricted funds 2021 £ 87,002 |
Total funds 2022 £ 188,002 |
|---|---|---|
| Total funds 2021 £ 87,002 |
||
| Fundraising Unrestricted funds 2021 £ Fundraising 10 |
Total funds 2022 £ - |
|---|---|
| Total funds 2021 £ 10 |
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
6. Other incoming resources
| CJRS Grants Unrestricted funds 2021 £ CJRS Grants 28,447 7. Expenditure on raising funds Costs of raising voluntary income Unrestricted funds 2022 £ Costs of raising voluntary income - wages and salaries 5,000 Unrestricted funds 2021 £ Costs of raising voluntary income - wages and salaries 5,000 |
Total funds 2022 £ - |
|---|---|
| Total funds 2021 £ 28,447 |
|
| Total funds 2022 £ 5,000 |
|
| Total funds 2021 £ 5,000 |
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
8. Analysis of expenditure on charitable activities
Summary by fund type
| Voluntary Income Arts & Crafts & Theatre Voluntary Income Arts & Crafts & Theatre |
Unrestricted funds 2022 £ 7,089 258,760 265,849 Unrestricted funds 2021 £ 7,450 220,260 227,710 |
Restricted funds 2022 £ - 1,524 1,524 Restricted funds 2021 £ - 1,524 1,524 |
Total 2022 £ 7,089 260,284 267,373 Total 2021 £ 7,450 221,784 |
|---|---|---|---|
| 229,234 |
Summary by expenditure type
| Voluntary Income Arts & Crafts & Theatre |
Staff costs 2022 £ - 143,985 143,985 |
Depreciation 2022 £ - 4,432 4,432 |
Other costs 2022 £ 7,089 111,867 118,956 |
Total 2022 £ 7,089 260,284 267,373 |
|---|---|---|---|---|
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
8. Analysis of expenditure on charitable activities (continued)
Summary by expenditure type (continued)
| Voluntary Income Arts & Crafts & Theatre |
Staff costs 2021 £ - 140,054 140,054 |
Depreciation 2021 £ - 2,663 2,663 |
Other costs 2021 £ 7,450 79,067 86,517 |
Total 2021 £ 7,450 221,784 229,234 |
|---|---|---|---|---|
9. Analysis of expenditure by activities
| Voluntary Income Arts & Crafts & Theatre Voluntary Income Arts & Crafts & Theatre |
Activities undertaken directly 2022 £ 7,089 260,284 267,373 Activities undertaken directly 2021 £ 7,450 221,784 229,234 |
Total funds 2022 £ 7,089 260,284 |
|---|---|---|
| 267,373 | ||
| Total funds 2021 £ 7,450 221,784 |
||
| 229,234 |
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
9. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Depreciation Tutor & Volunteer Costs Purchases & Equipment Fundraising Events Staff costs Depreciation Tutor & Volunteer Costs Purchases & Equipment Fundraising Events Bad debts 10. Staff costs Wages and salaries Social security costs |
Voluntary Income 2022 £ - - - - 7,089 7,089 Voluntary Income 2021 £ - - - - 7,450 - 7,450 |
Arts & Crafts & Theatre 2022 £ 143,985 4,432 32,927 78,940 - 260,284 Arts & Crafts & Theatre 2021 £ 140,054 2,663 7,959 54,652 - 16,456 221,784 2022 £ 139,973 9,012 148,985 |
Total funds 2022 £ 143,985 4,432 32,927 78,940 7,089 |
|---|---|---|---|
| 267,373 | |||
| Total funds 2021 £ 140,054 2,663 7,959 54,652 7,450 16,456 |
|||
| 229,234 | |||
| 2021 £ 136,839 8,215 |
|||
| 145,054 |
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
10. Staff costs (continued)
The average number of persons employed by the company during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Employees | 12 | 14 |
No employee received remuneration amounting to more than £60,000 in either year.
11. Tangible fixed assets
| Cost or valuation At 1 September 2021 Additions Disposals At 31 August 2022 Depreciation At 1 September 2021 Charge for the year On disposals At 31 August 2022 Net book value At 31 August 2022 At 31 August 2021 |
Freehold property £ 147,122 - - 147,122 - - - - 147,122 147,122 |
Computer equipment £ 37,082 2,286 (6,082) 33,286 27,788 4,432 (6,082) 26,138 7,148 9,294 |
Total £ 184,204 2,286 (6,082) |
|---|---|---|---|
| 180,408 | |||
| 27,788 4,432 (6,082) |
|||
| 26,138 | |||
| 154,270 | |||
| 156,416 |
Legal title to the property at Queens Park Arts Centre is held by Queens Park Arts Centre Limited, beneficial ownership is split Queens Park Arts Centre Limited 25.76% and William Harding's Charity 74.24%. Queens Park Arts Centre's Board of Directors agreed the revision to the Supplemental Declaration of Trust at the board meeting on 26 May 2015.
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DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
12. Stocks
| Finished goods and goods for resale Debtors Due within one year Trade debtors Other debtors Prepayments and accrued income Creditors: Amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2022 £ 500 2022 £ 3,043 - 13,870 16,913 2022 £ 3,145 7,835 - 2,600 13,580 |
2021 £ 500 |
|---|---|---|
| 2021 £ 1 - 17,861 |
||
| 17,862 | ||
| 2021 £ 2,833 6,267 - 17,190 |
||
| 26,290 |
13. Debtors
14. Creditors: Amounts falling due within one year
Page 22
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
| 15. Statement of funds Statement of funds - current year Balance at 1 September 2021 £ Unrestricted funds Designated funds Designated Funds - all funds 15,000 General funds General Funds - all funds 291,599 Total Unrestricted funds 306,599 Restricted funds Restricted Funds - all funds 71,057 Total of funds 377,656 |
Income £ - 230,720 230,720 - 230,720 |
Expenditure £ - (270,849) (270,849) (1,524) (272,373) |
Balance at 31 August 2022 £ 15,000 |
|---|---|---|---|
| 251,470 | |||
| 266,470 | |||
| 69,533 | |||
| 336,003 |
Page 23
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
| 15. Statement of funds (continued) Statement of funds - prior year Balance at 1 September 2020 £ Unrestricted funds Designated funds Designated Funds - all funds 15,000 General funds General Funds - all funds 175,732 Total Unrestricted funds 190,732 Restricted funds Restricted Funds - all funds 72,581 Total of funds 263,313 16. Summary of funds Summary of funds - current year Balance at 1 September 2021 £ Designated funds 15,000 General funds 291,599 Restricted funds 71,057 377,656 |
Income £ - 348,577 348,577 - 348,577 Income £ - 230,720 - 230,720 |
Expenditure £ - (232,710) (232,710) (1,524) (234,234) Expenditure £ - (270,849) (1,524) (272,373) |
Balance at 31 August 2021 £ 15,000 |
|---|---|---|---|
| 291,599 | |||
| 306,599 | |||
| 71,057 | |||
| 377,656 | |||
| Balance at 31 August 2022 £ 15,000 251,470 69,533 |
|||
| 336,003 |
Page 24
DocuSign Envelope ID: 06919C91-F4D1-4EAC-AD30-614A7D183D85
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
16. Summary of funds (continued)
Summary of funds - prior year
| Balance at 1 September 2020 £ Designated funds 15,000 General funds 175,732 Restricted funds 72,581 263,313 17. Analysis of net assets between funds Analysis of net assets between funds - current year Tangible fixed assets Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Tangible fixed assets Current assets Creditors due within one year Total |
Balance at 1 September 2020 £ 15,000 175,732 72,581 |
Income £ - 348,577 - 348,577 Unrestricted funds 2022 £ 154,270 125,780 (13,580) 266,470 Unrestricted funds 2021 £ 156,416 176,473 (26,290) 306,599 |
Expenditure £ - (232,710) (1,524) (234,234) Restricted funds 2022 £ - 69,533 - 69,533 Restricted funds 2021 £ - 71,057 - 71,057 |
Balance at 31 August 2021 £ 15,000 291,599 71,057 377,656 Total funds 2022 £ 154,270 195,313 (13,580) 336,003 Total funds 2021 £ 156,416 247,530 (26,290) 377,656 |
|---|---|---|---|---|
| 263,313 | ||||
Page 25