Company registration number: 04130347 Charity registration number: 1098334
Goldhay Arts
(A company limited by share capital) Annual Report and Financial Statements for the Year Ended 30 November 2022
Gross Klein Wood 75 Park Road Peterborough PEI 2TN
SSS
Goldhay Arts
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|Contents|
|Reference|and Administrative|Details|1|
|2|to3|
|Strategic|Report|
|4to5|
|Trustees'|Report|
|Statement|of|Trustees'|Responsibilities|6|
|7|
|Accountants'|Report|
|Statement of Financial|Activities|8|
|Balance|Sheet|9|
|Notes|to the Financial|Statements|10 to 21|
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Goldhay Arts
Reference and Administrative Details
Chairman
Mr Ian Frederick Ralph Middlebrook, Chairman
Trustees Miss Clare Andrews Mrs Marilyn Exton Mr David Robert Whitney Ms Angela Frances Morris Mr Jan Frederick Ralph Middlebrook, Chairman Miss Lisa Glynis Hawes, Treasurer Mr Christopher Walsh Secretary Mrs Lynn Whitfield
Secretary
Charity Registration Number 1098334
Company Registration Number 04130347
Registered Office
Independent Examiner
The charity is incorporated in England and Wales. Unit 34 - 36 Ortongate Shopping Centre Orton Goldhay Peterborough PE2 5TD Gross Klein Wood 75 Park Road Peterborough PE] 2TN
Page 1
Goldhay Arts
Strategic Report for the Year Ended 30 November 2022
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 30 November 2022, in compliance with s414C of the Companies Act 2006.
Achievements and performance Returning to normal has been our mantra for this financial year and we are so pleased to say that we are finally back to some semblance of normality following the covid-19 pandemic. Our staff team have played a huge part in making this happen so a huge well done and thank you.
Whilst we are back to hosting sessions face to face with the full group's return, we have continued offering online access for those individuals who might struggle one way or another to access face to face sessions. This we hope to continue in the foreseeable future including on online social group.
We have made huge progress this year in terms of finding more suitable premises for our charitable activities and are only weeks away from signing a lease for the charity's next home. As exciting as this new chapter is for us, it will be a bitter sweet moment leaving the Cresset as the entire staff team has been amazing to us over the last 14 years. With this said, we have a growing waiting list of individuals who are seeking a space in our sessions so we are looking forward to being able to offer this support once we have our new home.
Consultation has now been held with staff, service users, parents and carers with regards to bigger premises and whilst there are some anxiety with regards to the change, there has been an overwhelming sense of excitement from both staff and service users which is really encouraging. Unfortunately, the pending move has all come at a time where gas and electricity prices are at an all time high resulting in a bit of uncertainty around potential energy costs. However, the Project Manager is working with the builders to make the units as energy efficient as possible in anticipation.
Another highlight for the charity this year has been sourcing funding from The Longhurst Group, to host our summer production on the main stage at the Cresset Theatre and what a production it was. Following weeks of working on improving confidence, performance skills and stage presence, we had 5 individuals who overcame their fear and performed during the show, showcasing what they had learnt over the previous months. 17 performers showed the audience the brilliant skills they had learnt and developed following work completed with 4 Artists. Not only were there brilliant outcomes from the performers, but also from our newly introduced crafts and prop making session where individuals participated by creating a lot of the props that were used in the show. All performers earned a £5 commission from the show. We are so very proud of all that the group have achieved this year.
Finally, we hosted our first social event in over 2 years. We had our karaoke evening in September which was well attended by staff, service users, parents and carers. The group had a brilliant time and have already been asking for the next event. It is our hope that the coming year will bring us more opportunities to extend our service offering and to find more ways to support our service users in their developmental growth.
Financial review The financial statements show net incoming resources for the year of £7,453.
Page 2
Goldhay Arts
Strategic Report for the Year Ended 30 November 2022
Policy on reserves
Statement explaining the policy for holding reserves stating why they are held Para 1.22 Charity Commission's guidance is reviewed annually by Trustees and based upon our service offering, have decided that our unrestricted reserves needs to be maintained at a level of up to 12 months running costs. This will enable the charity to continue to run activities during any period of unforeseen difficulty, providing a safeguard to both Service Users and Staff, giving ample time to adjust to any adverse changes in the charity's financial health and to source suitable alternative provisions if required.
The strategic report was approved by the trustees of the charity on 7 June 2023 and signed on its behalf by:
Mr Ian Frederick Ralph Middlebrook Chairman and trustee
_Balidald Mrs Lynn Whitfield Company secretary
a
Page 3
Goldhay Arts
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 November 2022.
Objectives and activities
Objects and aims
To provide a quality service to adults with learning disabilities with an emphasis on personal development through experience of the performing and visual arts.
Objectives, strategies and activities
Crafts & Prop Making - Sessions is designed to be fun packed with lots of crafts making including cards and other tactile objects.
Music Sessions - The creation of music and sounds through the use of African drums and other small percussion instruments.
Dance & Drama - Creating drama plays, learning new dance routines and performing to an audience of family, friends and carers. Improve movement, fitness and body expression.
Visual Arts - To get creative and develop own style using professional artists as inspiration. Create original art pieces which are displayed in the local community for sale.
Independent Skills Development - Service Users are supported to plan and undertake activities to aid in developing their social and independent skills.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Nature ofgoverning document
Memorandum & Article of Association
Recruitment and appointment of trustees
Potential Trustees go through our recruitment and selection procedures. If the serving Trustees approve an applicant, this then has to be approved at a formal Board Meeting.
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity tisk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Page 4
Goldhay Arts
Trustees' Report
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
The annual report was approved by the trustees of the charity on 7 June 2023 and signed on its behalf by:
Mr Ian Frederick Ralph Middlebrook
Chairman and trustee
_Ardaeheld
Mrs Lynn Whitfield Company secretary
Page 5
SUNS OrO
Goldhay Arts
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Goldhay Arts 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Company law requires the trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 business.
The trustees are responsible for keeping proper accounting records that can 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 7 June 2023 and signed on its behalf by:
Mr Ian Frederick Ralph Middlebrook
Chairman and trustee
Mrs Lynn Whitfield Company secretary
Page 6
Chartered Certified Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Goldhay Arts for the Year Ended 30 November 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Goldhay Arts for the year ended 30 November 2022 as set out on pages 8 to 21 from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/ rules-and-standards/rulebook.htm.
This report is made solely to the board of directors of Goldhay Arts, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Goldhay Arts and state those matters that we have agreed to state to the board of directors of Goldhay Arts, as a body, in this report, in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/ october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goldhay Arts and its board of directors as a body for our work or for this report. It is your duty to ensure that Goldhay Arts has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of Goldhay Arts. You consider that Goldhay Arts is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Goldhay Arts. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. Gross Klein Wood
7 June 2023
Page 7
Goldhay Arts
Statement of Financial Activities for the Year Ended 30 November 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted | Total | ||
|---|---|---|---|
| funds | 2022 | ||
| Note | £ | £ | |
| Income and Endowments from: | |||
| Other trading activities | 4 | 166,707 | 166,707 |
| Investment income | 5 | 4,219 | 4,219 |
| Totalincome | 170,926 | 170,926 | |
| Expenditure on: | |||
| Raising funds | 6 | (158,332) | (158,332) |
| Charitable activities | 7 | (1,276) | (1,276) |
| Other expenditure | 8 | (3,865) | (3,865) |
| Total expenditure | (163,473) | (163,473) | |
| Net income | 7,453 | 7,453 | |
| Netmovement in funds | 7,453 | 7,453 | |
| Reconciliation offunds | |||
| Totalfunds brought forward | 258,767 | 258,767 | |
| Total funds carriedforward | 17 | 266,220 | 266,220 |
| Unrestricted | Total | ||
| funds | 2021 | ||
| Note | £ | £ | |
| Income and Endowments from: | |||
| Donations and legacies | 3 | 10,939 | 10,939 |
| Othertrading activities | 4 | 141,035 | 141,035 |
| Total income | 151,974 | 151,974 | |
| Expenditure on: | |||
| Raising funds | 6 | (128,760) | (128,760) |
| Charitable activities | 7 | (1,065) | (1,065) |
| Total expenditure | (129,825) | (129,825) | |
| Net income | 22,149 | 22,149 | |
| Netmovement in funds | 22,149 | 22,149 | |
| Reconciliation offunds | |||
| Total funds brought forward | 236,618 | 236,618 | |
| Totalfundscarriedforward | 17 | 258,767 | 258,767 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 10 to 21 form an integral part of these financial statements. Page 8
Goldhay Arts
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(Registration number: 04130347)
Balance Sheet as at 30 November 2022
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2022 2021
Note £ £
Fixed assets
Tangible assets 13 3.727 4,969
Current assets
Debtors 14 50,144 2,938
Cash at bank and in hand 15 218,538 252,227
268,682 255,165
Creditors: Amounts falling
due within one year 16 (6,189) (1,367)
Net current assets 262,493 253,798
Net assets 266,220 258,767
Funds of the charity:
Unrestricted income funds
Unrestricted funds 266,220 258,767
Total funds Lh 266,220 258,767
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For the financial year ending 30 November 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors! responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 8 to 21 were approved by the trustees, and authorised for issue on 7 June 2023 and signed on their behalf by:
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Ps=Nudd QobeayQ
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- Mr Ian Frederick Ralph Middlebrook Chairman and trustee
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Mrs Lynn Whitfield Company secretary
The notes on pages 10 to 21 form an integral part of these financial statements. Page 9
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
1 Charity status
The charity is limited by share capital, incorporated in England and Wales.
The address of its registered office is: Unit 34 - 36 Ortongate Shopping Centre Orton Goldhay Peterborough PE2 5TD These financial statements were authorised for issue by the trustees on 7 June 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation Goldhay Arts 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 notes.
Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Page 10
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Page 11
Se
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Pensions and other post retirement obligations
The charity operates a defined benefit pension scheme.Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.
The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.
Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.
Page 12
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial lability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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Cae
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Page 13
a
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
Debt instruments Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method: (a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate, (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c). Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 14
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from donations and legacies
| Unrestricted | |||
|---|---|---|---|
| funds | Total | ||
| General | funds | ||
| £ | £ | ||
| Total for 2022 | |||
| = | si | ||
| Total for2021 | 10,939 | 10,939 | |
| 4 | Income from other trading activities | ||
| Unrestricted | |||
| funds | Total | ||
| General | funds | ||
| £ | £ | ||
| Events income; | |||
| Individual BudgetIncome -Access | 16,025 | 16,025 | |
| IndividualBudgetIncome -Arts Activities | 143,766 | 143,766 | |
| Concerts | 249 | 249 | |
| Donations Received andFund Raising | 3,111 | 3,111 | |
| Online Social Group Subscription | 446 | 446 | |
| Otherincome from othertrading activities | 3,050 | 3,050 | |
| Totalfor2022 | ____166,647 | 166,647. | |
| Totalfor2021 | 141035 | 141,085, |
Page 15
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
| 5 | Investment income | ||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | funds | ||
| £ | £ | ||
| Otherinvestment income | 4,219 | 4,219 | |
| Totalfor2022 | 4219421 | ||
| 6 | Expenditureonraisingfunds |
a) Costs of trading activities
| a) Costs of tradingtrading activities | |||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | funds | ||
| Note | £ | £ | |
| Marketing andpublicity | 186 | 186 | |
| Depreciation, amortisationandother similar costs | 1,242 | 1,242 | |
| Fundraising costs | 33 | 33 | |
| Materials | 2,909 | 2,909 | |
| Insurance | 945 | 945 | |
| Bad debts written off | 562 | 562 | |
| Rent andrates | 17,415 | 17,415 | |
| Repairs andmaintenance | 1,110 | 1,110 | |
| Wages and salaries | 105,136 | 105,136 | |
| Freelance Art workers | 23,292 | 23,292, | |
| StaffNIC (Employers) | 2.931 | 2,231 | |
| Staffpensions (Defined contribution) | 3,186 | 3,186 | |
| Commissions payable | 85 | 85 | |
| Totalfor2022 | 158,332 | 158,332 | |
| Total for2021 | 26,293 | 26,293 | |
| Total | |||
| costs | |||
| £ |
- 7 Expenditure on charitable activities
Page 16
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
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||||||
|---|---|---|---|---|
|Unrestricted|
|funds|Total|
|Note|General£|funds£|
|Governance|costs|9|1,276|1,276|
|Total for 2021|1,065|1,065|
|Total|
|expenditure|
|£|
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In addition to the expenditure analysed above, there are also governance costs of £1,276 (2021 - £1,065) which relate directly to charitable activities. See note 9 for further details.
8 Other expenditure
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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|
|funds|Total|
|Note|General£|funds£|
|Travelling|86|86|
|Telephone|and|fax|787|787|
|Printing,|postage|and|stationery|98|98|
|Trade|subscriptions|1,952|1,952|
|Hire|of|plant and machinery|(Spot|hire)|409|409|
|Sundry|expenses|272|212|
|Bank|charges|261|261|
|Total|for 2022|3,865|3,865|
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- 9 Analysis of governance and support costs
Governance costs
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|||||||
|---|---|---|---|---|---|
|Unrestricted|
|funds|Total|
|General|funds|
|£|£|
|Independent|examiner|fees|
|Examination|of the|financial|statements|731|731|
|Legal|fees|545|545|
|Total for 2022|—1276|276|
|Total for 2021|—1065|1065|
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al
Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
10 Net incoming/outgoing resources Net incoming resources for the year include:
| Net incomingincoming resources for thethe year include: | ||
|---|---|---|
| 2022 | 2021 | |
| i | £ | |
| Depreciationoffixedassets | 1,242 | 1,656 |
| 11 Staff costs | ||
| The aggregate payroll costswere as follows: | ||
| 2022 | 2021 | |
| £ | £ | |
| Staffcosts during the year were: | ||
| Wagesandsalaries Social security costs Pension costs |
128,513 2,231 3,186 |
98,585 Aq] Seal |
| 133,930 | 102,467 |
No employee received emoluments of more than £60,000 during the year.
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Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
12 Taxation
The charity is a registered charity and is therefore exempt from taxation.
13 Tangible fixed assets
| Furniture and | ||
|---|---|---|
| equipment | Total | |
| £ | £ | |
| Cost | ||
| At 1 December2021 | 34,181 | 34,181 |
| At30November2022 | 34,181 | 34,181 |
| Depreciation | ||
| At 1 December2021 Charge fortheyear |
29,212 1,242 |
29,212 1,242 |
| At30November2022 | 30,454 | 30,454 |
| Net bookvalue | ||
| At30November2022 | 3,727 | 3,727 |
| At30November2021 | 4,969 | 4,969 |
| 14 Debtors | ||
| 2022 | 2021 | |
| £ | £ | |
| Tradedebtors Prepayments |
8,107 42,037 |
2,938 3 |
| 50,144 | 2,938 | |
| 15 Cash and cash equivalents | ||
| 2022 | 2021 | |
| £ | £ | |
| Cashon hand | 200 | 176 |
| Cash atbank | 218,338 | 252,051 |
| 218,538 | 252,227 |
16 Creditors: amounts falling due within one year
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Notes to the Financial Statements for the Year Ended 30 November 2022
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|||||||
|---|---|---|---|---|---|
|2022|2021|
|£|£|
|Trade|creditors|5,319|671|
|Other taxation|and|social|security|138|-|
|Other|creditors|1|-|
|Accruals|731|696|
|6,189|1,367|
|17|Funds|
|Balance|at|1|Balance|at 30|
|December|Incoming|Resources|November|
|2021|resources|expended|2022|
|£|£|£|£|
|Unrestricted|funds|
|General|258,767|170,926|(163,473)|266,220|
|Balance|at|1|Balance|at 30|
|December|Incoming|Resources|November|
|2020|resources|expended|2021|
|£|£|£|£|
|Unrestricted|funds|
|General|236,618|151,974|(129,825)|258,767|
|18|Analysis|of net|assets|between|funds|
|Unrestricted|Total|funds|at|
|funds|30|November|
|General|2022|
|£|£|
|Tangible|fixed|assets|3,727|3,72)|
|Current|assets|268,682|268,682|
|Current|liabilities|(6,189)|(6,189)|
|Total net assets|266,220|266,220|
|Unrestricted|Total|funds|at|
|funds|30|November|
|General|2021|
|£|£|
|Tangible|fixed|assets|4,969|4,969|
|Current|assets|255,165|255,165|
|Current|liabilities|(1,367)|(1,367)|
|Total net assets|258,767|258,767|
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Goldhay Arts
Notes to the Financial Statements for the Year Ended 30 November 2022
19 Analysis of net funds
| At 30 | ||
|---|---|---|
| At 1 December | November | |
| 2021 | 2022 | |
| £ | £ | |
| Cash atbankand inhand | 252,227 | 292,22) |
| Net debt | 252,927 | 252,227 |
| At 30 | ||
| At 1 December | November | |
| 2020 | 2021 | |
| £ | £ | |
| Cash atbankand inhand | 224,620 | 224,620 |
| Netdebt | 224,620 | 224,620 |
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