DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
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 2023
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
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 - 5 |
| Independent examiner's report | 6 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 - 10 |
| Notes to the financial statements | 11 - 24 |
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
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 2023
| Trustees | Peter Cooper, Chair |
|---|---|
| Stephen Terry, Vice Chair | |
| Tony Tomblin, Treasurer | |
| Dan Clucas | |
| Nick Hazle | |
| Rofaida Makki | |
| Nidhi Mehta | |
| Penelope Thorne | |
| 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 Buckinghamshire MK9 1NA Bankers Lloyds TSB Aylesbury Buckinghamshire Solicitors Horwood and James 7 Temple Square Aylesbury Buckinghamshire |
Page 1
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023
The Trustees present their annual report together with the financial statements of the Queens Park Arts Centre Limited for the 1 September 2022 to 31 August 2023. 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.
Regular activities includes:
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The Charity providing access to approximately 100 weekly workshops for children and adults delivered by Queens Park Arts Centre tutors and SDSD’s dance teachers.
-
Holiday workshops for children and regular longer length courses for adults throughout the year.
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Exhibitions for community and professional artists in the gallery spaces ‘Artisan’.
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Community and professional performances of plays, music, comedy and dance in the Limelight Theatre on Friday and Saturday evenings.
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A significant contribution to the local creative and cultural sector via regular inhouse and outreach performances by resident storytelling company, Unbound Theatre.
Page 2
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
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 once again 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 2022 to 31 August 2023.
In the last year, Queens Park Arts Centre provided a huge range of weekly arts, crafts, performing arts and holistic participatory workshops and courses, as well as a carefully curated selection of community and professional exhibitions. An inhouse Craft Fair and Open days augmented the offer. Queens Park Arts Centre contributed to the success of various local festivals and Town events. Unbound Theatre showcased their impressive range of content, both live performances and through Storytelling events, as well as digitally, with an extensive free filmed and audio offer.
Queens Park Arts Centre welcomed the ongoing core financial support from long term funder, the William Harding’s Charity, as well as continued core funding from Buckinghamshire Council.
Queens Park Arts Centre secured 3-year project financial support from the Rothschild Foundation, contributing to the strategic development of Unbound Theatre.
Queens Park Arts Centre also secured grants from local funders for other community projects throughout the year.
Since the Pandemic, Queens Park Arts Centre has successfully expanded its programme and increased its attendees and audiences. However, despite the additional activity and attendees the increased base line costs and inflation, whilst maintaining accessible and affordable 'arts for all', meant that the operational costs of running an essential community facility was challenging in 2022/23.
As forecast, Queens Park Arts Centre finished the financial year with a modest and budgeted operational deficit.
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.
b. Principal funding
Voluntary help and donations in kind
Queens Park Arts Centre operates in a unique way – a large number of its inhouse workshops are run by volunteer tutors who claim expenses but no remuneration. Volunteers are instrumental to the day to day running of Queens Park Arts Centre with around 200 lending their time, skills and enthusiasm.
Investment Powers
Investment powers are stated in the Memorandum and Articles. The charity does not currently hold any investments.
Page 3
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
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.
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.
Page 4
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
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;
-
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;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Tony Tomblin
Date: 17-01-2024 | 16:08 GMT
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023
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 2023.
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
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants England and Wales, which is one of the listed bodies.
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
-
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
-
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.
Page 6
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
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: 18-01-2024 | 09:44 GMT
Neal Carter ACA
Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes Buckinghamshire MK9 1NA
Page 7
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
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 2023
| Note Income from: Donations and legacies: 3 . Other donations and legacies Charitable activities 4 Other trading activities 5 Investments Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 49,190 256,644 25 5,066 310,925 - 316,133 316,133 (5,208) 266,470 (5,208) 261,262 |
Restricted funds 2023 £ 53,333 - - - 53,333 8,000 27,066 35,066 18,267 69,533 18,267 87,800 |
Total funds 2023 £ 102,523 256,644 25 5,066 364,258 8,000 343,199 351,199 13,059 336,003 13,059 349,062 |
Total funds 2022 £ 42,256 188,002 - 462 230,720 5,000 267,373 272,373 (41,653) 377,656 (41,653) 336,003 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 24 form part of these financial statements.
Page 8
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee) REGISTERED NUMBER: 04279862
BALANCE SHEET AS AT 31 AUGUST 2023
| Note Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
500 17,061 187,961 205,522 (17,987) |
2023 £ 161,527 161,527 187,535 349,062 349,062 349,062 87,800 261,262 349,062 |
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 |
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: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee) REGISTERED NUMBER: 04279862
BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2023
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: | ................................................ TonyDocuSignedTomblive by:
................................................ 51DA8BOFOC7E4F8... Tony Tomblin Date: 17-01-2024 | 16:08 GMT
The notes on pages 11 to 24 form part of these financial statements.
Page 10
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
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.
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
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: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
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.
Page 13
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
3. Income from donations and legacies
| Grants Grants 4. Income from charitable activities Arts & Crafts & Theatre Arts & Crafts & Theatre |
Unrestricted funds 2023 £ 49,190 |
Unrestricted funds 2023 £ 49,190 |
|
|---|---|---|---|
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| 5. Income from other trading activities Income from fundraising events Unrestricted funds 2023 £ Fundraising 25 6. Expenditure on raising funds Costs of raising voluntary income Costs of raising voluntary income - wages and salaries Costs of raising voluntary income - wages and salaries |
Total funds 2023 £ 25 Restricted funds 2023 £ 8,000 Unrestricted funds 2022 £ 5,000 |
Total funds 2022 £ - |
|---|---|---|
| Total funds 2023 £ 8,000 |
||
| Total funds 2022 £ 5,000 |
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
7. Analysis of expenditure on charitable activities
Summary by fund type
| Voluntary Income Arts & Crafts & Theatre Voluntary Income Arts & Crafts & Theatre |
Unrestricted funds 2023 £ 5,385 310,748 |
Restricted funds 2023 £ - 27,066 |
Total 2023 £ 5,385 337,814 |
||
|---|---|---|---|---|---|
| 343,199 | |||||
| 316,133 | 27,066 | ||||
| Unrestricted funds 2022 £ 7,089 258,760 265,849 |
Restricted funds 2022 £ - 1,524 1,524 |
Total 2022 £ 7,089 260,284 267,373 |
|||
Summary by expenditure type
| Voluntary Income Arts & Crafts & Theatre |
Staff costs 2023 £ - 163,303 163,303 |
Depreciation 2023 £ - 9,448 9,448 |
Other costs 2023 £ 5,385 165,063 170,448 |
Total 2023 £ 5,385 337,814 |
|---|---|---|---|---|
| 343,199 |
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
7. Analysis of expenditure on charitable activities (continued)
Summary by expenditure type (continued)
| 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 |
8. Analysis of expenditure by activities
| Voluntary Income Arts & Crafts & Theatre Voluntary Income Arts & Crafts & Theatre |
Activities undertaken directly 2023 £ 5,385 337,814 343,199 Activities undertaken directly 2022 £ 7,089 260,284 267,373 |
Total funds 2023 £ 5,385 337,814 |
|---|---|---|
| 343,199 | ||
| Total funds 2022 £ 7,089 260,284 |
||
| 267,373 |
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
8. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Depreciation Tutor & Volunteer Costs Purchases & Equipment Fundraising Events Wages Staff costs Depreciation Tutor & Volunteer Costs Purchases & Equipment Fundraising Events 9. Staff costs Wages and salaries Social security costs |
Voluntary Income 2023 £ - - - - 5,385 - 5,385 Voluntary Income 2022 £ - - - - 7,089 7,089 |
Arts & Crafts & Theatre 2023 £ 163,303 9,448 46,565 94,546 - 23,952 337,814 Arts & Crafts & Theatre 2022 £ 143,985 4,432 32,927 78,940 - 260,284 2023 £ 159,437 11,866 171,303 |
Total funds 2023 £ 163,303 9,448 46,565 94,546 5,385 23,952 |
|---|---|---|---|
| 343,199 | |||
| Total funds 2022 £ 143,985 4,432 32,927 78,940 7,089 |
|||
| 267,373 | |||
| 2022 £ 139,973 9,012 |
|||
| 148,985 |
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
9. Staff costs (continued)
The average number of persons employed by the company during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Employees | 14 | 14 |
No employee received remuneration amounting to more than £60,000 in either year.
10. Tangible fixed assets
| Cost or valuation At 1 September 2022 Additions At 31 August 2023 Depreciation At 1 September 2022 Charge for the year At 31 August 2023 Net book value At 31 August 2023 At 31 August 2022 |
Freehold property £ 147,122 - 147,122 - - - 147,122 147,122 |
Computer equipment £ 33,286 16,705 49,991 26,138 9,448 35,586 14,405 7,148 |
Total £ 180,408 16,705 |
|---|---|---|---|
| 197,113 | |||
| 26,138 9,448 |
|||
| 35,586 | |||
| 161,527 | |||
| 154,270 |
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: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
11. Stocks
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Finished goods and goods for resale | 500 | 500 |
12. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2023 £ 8,395 1,534 7,132 17,061 |
2022 £ 3,043 - 13,870 |
|---|---|---|
| 16,913 |
13. Creditors: Amounts falling due within one year
| Bank overdrafts Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2023 £ 266 3,131 10,530 755 3,305 17,987 |
2022 £ - 3,145 7,835 - 2,600 |
|---|---|---|
| 13,580 |
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
14. Statement of funds
| Statement of funds | |||
|---|---|---|---|
| Statement of funds - current year Balance at 1 September 2022 £ Unrestricted funds Designated funds Designated Funds - all funds 15,000 General funds General Funds - all funds 251,470 Total Unrestricted funds 266,470 Restricted funds Rothschild Foundation - Building refurbishment fund 69,533 69,533 Total of funds 336,003 |
Income £ - 310,925 310,925 53,333 - 53,333 364,258 |
Expenditure £ - (316,133) (316,133) (33,542) (1,524) (35,066) (351,199) |
Balance at 31 August 2023 £ 15,000 |
| 246,262 | |||
| 261,262 | |||
| 19,791 68,009 |
|||
| 87,800 | |||
| 349,062 |
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DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
14. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Designated Funds - all funds General funds General Funds - all funds Total Unrestricted funds Restricted funds Building refurbishment fund Total of funds |
Balance at 1 September 2021 £ 15,000 291,599 306,599 71,057 377,656 |
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 |
Particulars of the restricted funds
Building refrurbishment fund - This fund is used for the refurbishment of the charity's buildings.
Rothschild Foundation - This fund is relation to the grant received from the Rothschild Foundation for developing and delivering a storytelling project shared though performances at Bucks venues and in a published anthology for Bucks libraries.
Page 22
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
15. Summary of funds
| Summary of funds - current year Balance at 1 September 2022 £ Designated funds 15,000 General funds 251,470 Restricted funds 69,533 336,003 Summary of funds - prior year Balance at 1 September 2021 £ Designated funds 15,000 General funds 291,599 Restricted funds 71,057 377,656 |
Income £ - 310,925 53,333 364,258 Income £ - 230,720 - 230,720 |
Expenditure £ - (316,133) (35,066) (351,199) Expenditure £ - (270,849) (1,524) (272,373) |
Balance at 31 August 2023 £ 15,000 246,262 87,800 |
|---|---|---|---|
| 349,062 | |||
| Balance at 31 August 2022 £ 15,000 251,470 69,533 |
|||
| 336,003 |
16. 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 |
Unrestricted funds 2023 £ 161,527 117,722 (17,987) 261,262 |
Restricted funds 2023 £ - 87,800 - 87,800 |
Total funds 2023 £ 161,527 205,522 (17,987) |
|---|---|---|---|
| 349,062 |
Page 23
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
QUEENS PARK ARTS CENTRE LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
16. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 154,270 125,780 (13,580) 266,470 |
Restricted funds 2022 £ - 69,533 - 69,533 |
Total funds 2022 £ 154,270 195,313 (13,580) 336,003 |
|---|---|---|---|
Page 24
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
Queens Park Arts Centre Limited Queens Park, Aylesbury, Buckinghamshire, HP21 7RT
To: Hillier Hopkins LLP 249 Silbury Boulevard Milton Keynes Buckinghamshire MK9 1NA
Dear Sirs
We confirm that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience sufficient to satisfy ourselves that we can properly make each of the following representations to you in connection with your audit of the charity's financial statements for the year ended 31 August 2023.
General
We acknowledge as directors/trustees our responsibility under the Companies Act 2006 for preparing financial statements which give a true and fair view and for making accurate representations to you. All the accounting records have been made available to you for the purpose of your independent examination and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management and trustee meetings, have been made available to you.
The financial statements are free of material misstatements, including omissions. We acknowledge our role as informed management and confirm our agreement to the adjusting journals attached.
We confirm that the company’s accounting policies are appropriately adopted and disclosed.
Internal control
We acknowledge our responsibility for the design and implementation of internal control systems to prevent and detect fraud and error. We have disclosed to you the results of our risk assessment of fraud in relation to the financial statements. There have been no irregularities (or allegations of irregularities) involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements.
Assets and liabilities
The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
We have recorded or disclosed, as appropriate, all liabilities, both actual and contingent, and have disclosed in the notes to the financial statements all guarantees that we have given to third parties. We have no plans or intentions that may materially alter the carrying value or classification of assets and liabilities reflected in the financial statements.
Accounting estimates
Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
Loans and arrangements
The charity has not granted any advances or credits to, or made guarantees on behalf of, directors other than those disclosed in the financial statements.
Legal claims
We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements.
DocuSign Envelope ID: 93C70434-46D3-4378-BCEA-08256D620886
Law and regulations
We are not aware of any irregularities, including fraud, involving management or employees of the charity; nor are we aware of any breaches or possible breaches of statute, regulations, contracts or the company's Memorandum and Articles of Association which might prejudice the charity's going concern status or that might result in the charity suffering significant penalties or other loss. No allegations of such irregularities, including fraud, or such breaches have come to our notice.
Related parties
Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have made available to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of company law, charity law or accounting standards.
Subsequent events
All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
Going concern
We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements.
Grants and donations
All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
We acknowledge our legal responsibilities regarding disclosures of information to you as auditors and confirm that, so far as we are aware, there is no relevant audit information needed by you in connection with preparing your report of which you are unaware. Each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant information and to establish that you are aware of that information.
Yours faithfully 17-01-2024 | 16:08 GMT | ToryDocuSignedTomblinby: .............................................................................................................................. 51DA8BOFOC7E4F8... Signed on behalf of the board of directors/trustees Date
Registered office:
Queens Park Aylesbury Buckinghamshire HP21 7RT
Company number: 04279862
Directors/Trustees:
Peter Cooper, Chair Stephen Terry, Vice Chair Tony Tomblin, Treasurer Dan Clucas Nick Hazle Rofaida Makki Nidhi Mehta Penelope Thorne