RIVA Residencies in Visual Arts
Annual Report and Accounts
31 December 2020
Charity Registration Number 1096756 (England and Wales)
Contents
| Reports | |
|---|---|
| Reference and administrative information | 1 |
| Trustees’ report | 2 |
| Independent examiner’s report | 4 |
| Accounts | |
| Receipts and payments accounts | 5 |
| Statement of assets and liabilities | 6 |
RIVA Residencies in Visual Arts
Reference and administrative information Period to 31 December 2020
Trustees Deborah Law Minna Stevens Ronald Henocq Roderick Smith Registered office 72B Southgate Road London N1 3JF Charity registration number 1096756 Independent examiner Hugh Swainson Buzzacott LLP 130 Wood Street London EC2V 6DL Bankers CAF Charities Aid Foundation 10 St Bride Street London EC4A 4AD
RIVA Residencies in Visual Arts 1
Trustees’ report Period ended 31 December 2020
The Trustees present their annual report together with the accounts of RIVA (Residencies in Visual Arts) (the charity) for the period ended 31 December 2020.
The accounts have been prepared on a receipts and payments basis in accordance with the guidelines of the Charity Commission and comply with the charity’s Declaration of Trust and the Charities Act 2011.
The charity has changed is year end from 31 March to 31 December with effect from 1 April 2020.
GOVERNANCE, STRUCTURE AND MANAGEMENT
The charity is an unincorporated charitable trust registered with the Charity Commission. Its governing document is its Declaration of Trust dated 1 February 2003.
Organisation and governance
The charity does not have employees and is managed by the trustees. The trustees during the financial period to 31 December 2020 were as set out on page 1.
Recruitment and training of trustees
When required, new trustee appointments are made by the existing trustees based on expertise. New trustees are inducted by existing trustees and provided access to information and guidance from the Charity Commission along with seminars available from sector accountants and legal advisors.
CHARITABLE OBJECTIVES AND ACTIVITIES
The charitable objectives of the charity are to:
-
♦ offer visual arts education for people of all ages, abilities and backgrounds; and
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♦ organise or fund artists’ residencies and similar projects in various environments.
ACHIEVEMENTS AND PERFORMANCE
In the 9 month period to 31 December 2020, RIVA continued to operate from its Hackney studio. Trustee, Deborah Law, and artist, Lily Hawkes, built on local connections with nearby schools working to develop residency projects and raise the profile of what we offer.
RIVA continued to fund of art education and learning projects by donating £15,000 (year to 31 March 2020 - £30,000) to galleries with similar objectives and projects.
Public benefit
In setting the charity’s objectives and planning its activities, the trustees have complied with their duty to have due regard to the guidance on public benefit in exercising their powers as trustees.
RIVA Residencies in Visual Arts 2
Trustees’ report Period ended 31 December 2020
FINANCIAL REVIEW
The charity’s total receipts in the 9 month period to 31 December 2020 were £34,000 (year to 31 March 2020 - £66,000). In both financial periods, this was made up entirely of donations. The charity made payments totalling £39,642 in the 9 month period to 31 December 2020 (year to 31 March 2020 - £72,387).
The charity’s total cash funds at 31 December 2002 were £10,947 (31 March 2020 - £16,589). The charity had no other assets at 31 December 2020 (31 March 2020 – there were no other assets) and total liabilities of £1,800 (31 March 2020 – £1,800).
During the 9 month period to 31 December 2020, the Covid-19 pandemic has continued to have a profound effect globally. It has impacted not only the basic nature of social interactions but has also had a significant economic impact at every level in ways which have been outside of the Trust’s control.
The charity’s main activity is to provide grants and therefore is able to exercise a significant degree of control over its expenditure. The trustees will continue to keep both income and expenditure under review. Whilst there will undoubtedly be challenges ahead, the Trustees do not expect material concerns to arise over the Trust’s financial position.
No fund held was materially in deficit at the end of the year.
For and on behalf of the board of trustees:
Deborah Law
Trustee
Date of approval: 16.09.21
RIVA Residencies in Visual Arts 3
Independent examiner’s report Period to 31 December 2020
Independent examiner’s report to the trustees of RIVA, Residencies in Visual Arts
I report to the charity trustees on my examination of the accounts of the charity for the 9 month period to 31 December 2020.
Responsibilities and basis of report
As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
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♦ accounting records were not kept in respect of the charity as required by section 130 of the 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 applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Hugh Swainson ACA 22.9.2021 For and on behalf of Buzzacott LLP Chartered Accountants 130 Wood Street London EC2V 6DL
RIVA Residencies in Visual Arts 4
Receipts and payments accounts Period to 31 December 2020
| Unrestricted funds | Unrestricted funds | |
|---|---|---|
| 9 month period to 31 December 2020 £ |
Year to 31 March 2020 £ |
|
| Receipts: Donations received Total receipts Payments: Charitable Activities: Awards Artists’ fees Materials Transport Studio rent Bank charges Governance costs Total payments Net payments Reconciliation of cash: Cash funds at 1 April Cash funds at 31 December |
34,000 | 66,000 |
| 34,000 | 66,000 | |
| 15,000 11,797 — — 11,000 45 1,800 |
30,000 28,845 534 184 11,000 60 1,764 |
|
| 39,642 | 72,387 | |
| (5,642) 16,589 |
(6,387) 22,976 |
|
| 10,947 | 16,589 |
All of the charity’s receipts and payments are derived from continuing operations during the above two financial periods.
RIVA Residencies in Visual Arts 5
The statement of assets and liabilities as at 31 December 2020
| Unrestricted funds | Unrestricted funds | |
|---|---|---|
| 31 December 2020 £ |
31 March 2020 £ |
|
| Cash funds Cash accounts Savings account Liabilities Accountant’s fees |
10,902 45 |
16,544 45 |
| 10,947 (1,800) |
16,589 (1,800) |
Approved by the Trustees and signed on their behalf by:
Deborah Law
Trustee
Approved on: 16.09.21
RIVA Residencies in Visual Arts 6