INDEX TO THE TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
| Page | |
|---|---|
| Trustees' Annual Report | 2 - 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 |
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CHARITY REG. NO. 1096820, COMPANY REG. NO 4329825
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
The Trustees present their report together with financial statements for the year ended 30 November 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees and Directors Ralph Oswick, Ric Jerrom and Wendy Matthews Company Secretary Steve Henwood Registered Office The Bell, 103 Walcot Street, Bath, BA1 5BW Bankers Santander Business Banking, Bootle, Merseyside L30 4GB
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document - the Trust is a charitable company limited by guarantee, incorporated on 9 August 2001, and registered as a charity on 3 April 2003. The affairs of the charitable company are governed by its Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Members guarantee to contribute an amount not exceeding £10 to the assets of the charitable company in the event of winding up.
Directors and Trustees - the directors of the company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The membership of the Board of Trustees is listed above.
Risk Management policy - the Trustees have a risk management strategy which comprises an annual review of the risks the charity may face, systems and procedures to mitigate those risks identified in the plan, and procedures designed to minimise any potential impact on the charity should those risks materialise. The Trustees have examined the major strategic, business and operational risks that the Trust faces and are satisfied that systems are in place to mitigate these risks.
Public Benefit- the Trustees have reviewed the Charity Commission's guidance on the requirement to report on public benefit. They are satisfied that the work of the charity, as described below, accords with its stated objects and provides tangible public benefit to an appropriate section of those who reside within the charity’s area of benefit; they believe that the criteria used to assess those who may benefit are not unreasonably restrictive.
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CHARITY REG. NO. 1096820, COMPANY REG. NO 4329825
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 30 NOVEMBER 2023
AIMS AND OBJECTS
To promote education and life-long learning in the contemporary and popular art forms including street arts, drama, music, new circus, contemporary and ethnic dance, spoken word, the visual arts, electronic arts site-specific work and outdoor events which further the public’s appreciation and participation in the arts.
ACHIEVEMENTS DURING THE YEAR
DIRECTOR’S REPORT YE NOV 30 2023
2023 felt like a full return to normality after 3 years of uncertainty, and people seemed keener than ever to want to get out and attend events. Streats maintained its funding support from The Roper Family Trust (£17,000) and The Cobalt Trust (£10,000.)
Our mission is to promote education and lifelong learning in contemporary and popular artforms, including street arts, drama, music, new circus, site-specific and outdoor events, which further public appreciation and participation in the arts. In line with this, in 2023, funding raised by Streats Ltd went to support the core funding, marketing and promotion of Bath Fringe. The Festival encompasses as wide a range of performing and visual arts as possible, but with the emphasis on cutting edge quality. In 2023 we were pleased to support the return of Bath Fringe Children’s Festival, after a few years’ hiatus. The six-day event took place over spring half-term in a city park. It featured circus and theatre performances and workshops along with other activities such as the talent show. This is a family event that aims to be inclusive and accessible to all by providing free and low ticket-priced shows and workshops.
The total raised towards funding activities in the year to 30 November 2023 was £27,000. As in previous years we have no overheads due to the continuing generosity of the owner of office space and associated resources allowing Streats Ltd use of these free of charge, so the whole of income raised in the year was used to fund the activities outlined above.
At the end of the year, the charitable company held funds of £1,573.
STATEMENT OF TRUSTEE RESPONSIBILITIES
The trustees (who are also directors of Streats Ltd for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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CHARITY REG. NO. 1096820, COMPANY REG. NO 4329825
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
STATEMENT OF TRUSTEE RESPONSIBILITIES (continued)
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards 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 charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the special provisions for small companies under Section 415a of the Companies Act 2006.
Approved by the Trustees at their meeting on 23/08/2024 and signed on their behalf by
Director and Trustee
Ralph Oswick
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CHARITY REG. NO. 1096820, COMPANY REG. NO 4329825
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 NOVEMBER 2023
(incorporating Income and Expenditure Account for the year)
| 2022- 2023 | 2021-2022 | |
|---|---|---|
| £ | £ | |
| Incoming Resources | ||
| Voluntary income: | ||
| Donations received | 27,000 | 27,000 |
| Gift Aid reclaimed on donations | ||
| Total incoming resources | 27,000 | 27,000 |
| Resources expended | ||
| Costs of generating funds | 0 | 0 |
| Costs of charitable activi- | ||
| ties | ||
| Donations | ||
| made | 27,000 | 27,000 |
| Other costs | 0 | |
| Governance costs | 0 | |
| Total resources expended | 27,000 | 27,000 |
| Net outgoing resources and net loss for the year | - | |
| Funds brought forward | 1,573 | 1,573 |
| Funds carried forward | 1,573 | 1,573 |
The above results relate wholly to continuing activities.
There were no recognised gains or losses other than those included above.
The statement of financial activities also complies with the requirement to prepare an income and expenditure account contained in the Companies Act 2006.
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CHARITY REG. NO. 1096820, COMPANY REG. NO 4329825
BALANCE SHEET
AS AT 30 NOVEMBER 2022
| Current Assets Debtors and prepayments Bank Balances Creditors: due within one year Creditors and accruals Net Current assets Amounts due after more than one year Total assets less current liabilities Fund Balances |
2022-23 - 1,573 1,573 - - 1,573 1,573 1,573 |
2020 -21 - 1,573 1,573 - - 1,573 1,573 1,573 |
|---|---|---|
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008)
For the year ended 30 November 2020, the charitable company is entitled to exemption from the requirement to have an audit under the provisions of Section 477 of the Companies Act 2006 and no notice has been deposited with the charitable company under section 476 of that Act requiring an audit to be carried out.
The directors acknowledge their responsibilities for (i) ensuring the charitable company keeps accounting records which comply with the Companies Act 2006; and (ii) preparing financial statements which give a true and fair view of the state of affairs of the charitable company at the end of the financial period and of its incoming resources and applications of resources for the period, in accordance with the requirements of the Companies Act 2006, and which otherwise comply with the requirements of that Act relating to accounts so far as they are applicable to the charitable company. These financial statements were approved by the Trustees at their meeting held on 23/08/2024 and were signed on their behalf by:
_________ Director and Trustee
RalphOswick
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CHARITY REG. NO. 1096820, COMPANY REG. NO 4329825
The accompanying accounting policies and notes on page 7 form an integral part of these financial statements
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
1. PRINCIPAL ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the historical cost convention, generally accepted accounting principles in the United Kingdom, Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006, and the Statement of Recommended Practice: "Accounting and Reporting by Charities" (SORP 2005). The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.
Incoming resources - all incoming resources are included in the statement of financial activities when the company is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended - Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Fund Accounting - Restricted Funds are held to be used for specified purposes, as indicated by the donors. 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.
Taxation - The company is a registered charity and as such tax exemption applies to the income arising from and expended on charitable activities.
2. FIXED ASSETS
The company does not own any fixed assets.
3. SHARE CAPITAL
The company is limited by guarantee, and therefore has no issued share capital.
4. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
There were no capital commitments or contingent liabilities at 30 November 2023 (2022 - none).
5. TRUSTEE REMUNERATION AND EXPENSES
THE TRUSTEES DID NOT RECEIVE ANY REMUNERATION OR REIMBURSED EXPENSES FROM THE COMPANY (2023 NIL).
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CHARITY REG. NO. 1096820, COMPANY REG. NO 4329825