THE ARTS SOCIETY ROYAL LEAMINGTON SPA
TRUSTEES' REPORT
FOR THE YEAR ENDED 31ST MARCH 2024
The Trustees present their annual report and the audited financial statements of The Arts Society Royal Leamington Spa ("TASRLS") for the year ended 31 March 2024.
Registration as a charity
TASRLS was registered as a charity with the Charity Commission with effect from 9 March 2004, under registration number: 1102548, and is affiliated to the National Association of Decorative & Fine Arts Societies ("The Arts Society"), a company limited by guarantee and also a registered charity.
Officers, Committee Members and Trustees
The names of the officers and Committee members as at the date of this report are set out below:
President: Mrs A Conway Chairman and Trustee: Mr K Roberts Vice Chairman and Trustee: Mr M Hornbrook (Information Technology) Treasurer and Trustee: Mrs E Love Secretary and Trustee: Ms A Barton Committee Members and Trustees: Mrs R Barton (Heritage Volunteers) Dr E Batt (Programme) Mrs R Crampton (Short Breaks) Dr S Dunnett (Days of Special Interest) Mrs P King (Publicity) Mrs E McConville (Community Arts) Mrs M Radomska (Membership) Mrs P Weinbren (Day Visits)
Structure, Governance and Management
TASRLS is an unincorporated society governed by its constitution and rules, adopted on its formation on 8 October 1993, with subsequent modifications of an administrative nature approved at the Annual General Meetings held on 13 June 2001, 2 June 2004, 4 June 2014, 5 July 2017, 4 July 2018 and 7 July 2021.
The President is appointed by the Committee for a period of three years. This is an Honorary position. The President is not entitled to vote at meetings of the Committee and they are not a Trustee.
All the Committee members are registered with the Charity Commission as Trustees. The Committee comprises not more than twelve members, who are elected annually at the Annual General Meeting. All members of TASRLS may propose a member for election to the Committee at the Annual General Meeting and indeed are encouraged to do so. The Committee may fill any casual vacancy to hold office until the following Annual General Meeting and may co-opt up to four non-voting additional members, having regard to any specialist skills needed, for a period not exceeding twelve months.
Page 1
THE ARTS SOCIETY ROYAL LEAMINGTON SPA
TRUSTEES' REPORT
FOR THE YEAR ENDED 31ST MARCH 2024
Reporting on public benefit
The objects of TASRLS are: the promotion and advancement of the education of the public in the cultivation, appreciation and study of the decorative and fine arts; the conservation and preservation of the artistic heritage of the United Kingdom and other countries for the benefit of the public; and the advancement of the arts, culture and heritage, in particular, but without limitation, the decorative and fine arts.
The principal means by which these objectives are achieved is the programme of nine lectures complemented by days of special interest, day visits and short breaks. In addition, the community arts programme enables members of the public to develop an appreciation of the arts and our volunteers work in our catchment area assisting in the preservation and conservation of our heritage. Details of the main activities and achievements in relation to these objectives are set out in the Chairman's report, which forms part of this annual report. The Committee keeps in mind the Charity Commission's guidance on public benefit at the relevant Trustee meetings where the programme of activities for the year ahead is considered. Membership of TASRLS is open to anyone and, although there is an annual membership subscription, it is set at such a level (£48 for the year ended 31 August 2024) that almost no-one should be excluded from membership by virtue of it. In addition, each member may bring guests to a lecture, subject to the same guest not attending more than two lectures in any lecture year. In the year to 31 March 2024, 242 guests attended the lectures.
Financial review
There was a deficit of incoming resources over resources expended for the year of £1,391 (2023: £750 deficit).
All of the liquid working capital of TASRLS is held on deposit with its bankers or other appropriate institutions, pending its utilisation to meet expenditure in furtherance of its objectives. Sponsorships and donations to other bodies or individuals are made after assessment by the Committee and amounted to £2,871 in the year (2023: £2,200).
It is the policy of TASRLS to maintain a balance of unrestricted reserves approximately equivalent to the level of annual recurring expenditure, other than expenditure on study days, visits and other events, which are self-funded by the participants. These funds both guard against any shortfall in receipts and generate interest, which helps to fund discretionary sponsorships and donations.
£2,243 of the "ARG Third Sector Support Scheme" Covid recovery grant received in March 2022, which is being held to fund activities to re-build membership numbers after the pandemic, was used in the year, leaving £8,352.
Independent examiner
Clare Brown of 66B Limited, 66B Smith Street, Warwick CV34 4HU, has indicated her willingness to act as honorary independent examiner of TASRLS and a resolution for her appointment will be proposed at the 2024 Annual General Meeting.
Mr Keith Roberts, Chairman
Ms Ann Barton, Secretary
9th June 2024
Page 2
THE ARTS SOCIETY ROYAL LEAMINGTON SPA
AUDITED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST MARCH 2024
| Note Incoming resources Members' subscriptions New members' registration fees Days of Special Interest, visits and other events 3 Donations from guests Bank and other interest Gift Aid 4 Surplus from sales of "50 Treasures of W Midlands" Total incoming resources Resources expended Lecturers' fees and expenses Lecture hall costs Volunteers and recorders Sponsorship and donations 5 The Arts Society affiliation fees Days of Special Interest, visits and other events 3 Administration, printing, postage and stationery Travel costs (net of The Arts Society fares pool refunds) Insurance The Arts Society West Midlands area levy Examiner's honorarium Web site, domain maintenance, IT licences Depreciation of equipment 7 Total resources expended Net incoming / (outgoing) resources for the year Total unrestricted general fund balances: Brought forward at 1 April 2023 Carried forward at 31 March 2024 |
Year to 31 March 2024 £ 25,563 440 9,209 540 408 3,287 0 39,445 5,882 10,832 1,679 2,871 8,500 8,652 1,056 156 294 253 275 254 0 40,704 (1,259) 47,014 45,755 |
Year to 31 March 2023 £ 22,771 270 11,938 373 140 3,239 225 |
|---|---|---|
| 38,956 | ||
| 6,124 10,204 334 2,200 7,830 10,930 879 117 249 264 275 300 0 |
||
| 39,706 | ||
| (750) 47,764 |
||
| 47,014 |
Page 3
THE ARTS SOCIETY ROYAL LEAMINGTON SPA
AUDITED BALANCE SHEET
FOR THE YEAR ENDED 31ST MARCH 2024
| 31 March | 31 March | ||
|---|---|---|---|
| Note | 2024 | 2023 | |
| £ | £ | ||
| Tangible fixed assets | |||
| Display stand, laptop computer and other equipment | |||
| at cost less depreciation | 7 | 0 | 0 |
| Current assets | |||
| The Arts Society national affiliation fees paid in advance | 6,169 | 6,444 | |
| Other debtors and prepayments | 4,667 | 3,998 | |
| Loan to Patricia Fay Memorial Fund, repayable upon demand | 5,000 | 5,000 | |
| Cash at bank | 8 | 51,789 | 57,866 |
| 67,625 | 73,308 | ||
| Current liabilities | |||
| Amounts falling due within one year: | |||
| Ticket sales in advance | 2,587 | 2,793 | |
| Deferred income - subscriptions received in advance | 8,949 | 8,288 | |
| Other creditors and accruals | 2,023 | 4,618 | |
| 13,560 | 15,699 | ||
| Net current assets | 54,065 | 57,609 | |
| Total assets less current liabilities | 54,065 | 57,609 | |
| Representing: | |||
| Accumulated fund: | |||
| ARG (Additional Restriction Grant) Third Sector Support Scheme | 8,310 | 10,595 | |
| Unrestricted general fund balance at the year end | 45,755 | 47,014 | |
| Total Funds | 54,065 | 57,609 |
Approved by the Committee and Trustees of The Arts Society Royal Leamington Spa on 5th June 2024 and signed on their behalf by:
Mr W K Roberts Chairman
Mrs E Love Treasurer
Page 4
THE ARTS SOCIETY ROYAL LEAMINGTON SPA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Objectives and status
1 The objectives of TASRLS are set out in the Trustees' report on page 2. TASRLS was registered as a charity with the Charity Commission with effect from 9 March 2004 under registration number 1102548. At 31 March 2024 TASRLS had 547 members (2023: 508).
Basis of accounting and accounting policies
2 The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Accounting Practice: Accounting and Reporting by Charities (SORP 2005), issued in March 2005, UK accounting standards, the Financial Reporting Standard for Smaller Entities and the Charities Act 2011. Incoming resources and resources expended are accounted for on the accrual basis. Members' subscriptions received in advance are carried forward as deferred income.
Study days and visits
3 The incoming resources and resources expended in respect of study days and visits in the year consist of:
| Income Resources resources expended £ £ Days of Special Interest 3,575 3,563 Visits 5,381 5,058 Biennial dinner 0 0 Other events 253 31 9,209 8,652 Gift Aid 4 The Gift Aid relief relates to subscriptions and donations received: In the year In prior years Total Sponsorship and donations 5 During the year, TASRLS made the following grants in furtherance of its charitable objectives: Warwickshire College of Arts Foundation Year Prize Warwickshire College of Arts bursaries Arts Insight, Loft Theatre, net of £250 from Arts Society HQ Leamington Music Coventry & Warwickshire Youth Orchestra Leamington Museum and Art Gallery Leamington History Group Koestler Art Project - W Midlands Warwick Words |
2024 2023 £ £ 12 248 323 579 0 181 222 0 Result to 31 March |
|---|---|
| 556 1,009 |
|
| 2024 2023 £ £ 3,287 3,168 71 Year to 31 March |
|
| 3,287 3,239 |
|
| 2024 2023 £ £ 325 325 525 525 0 500 450 400 400 400 534 0 200 0 0 50 437 0 Year to 31 March |
|
| 2,871 2,200 |
Page 5
THE ARTS SOCIETY ROYAL LEAMINGTON SPA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Expenses reimbursed to Trustees
6 An amount of £442 (2022/23: £302) was paid to 4 Trustees (2022/23: 4) in the year for expenses, which were mainly for travel. In addition, 6 Trustees (2023: 7) were reimbursed £916 (2023: £675) for purchases made on behalf of the Society. None of the Trustees received any remuneration for their services as Trustees.
| Tangible fixed assets | Net book | ||||
|---|---|---|---|---|---|
| 7 | These comprise: | Cost | Depreciation | amount | |
| Display stand, computer and other | £ | £ | £ | ||
| equipment at 01/04/23 | 1,425 | 1,425 | 0 | ||
| Depreciation for the year | 0 | 0 | 0 | ||
| Total at 31 March 2024 | 1,425 | 1,425 | 0 |
| Cash at bank | 31st March | 31st March | |
|---|---|---|---|
| 8 | This comprises: | 2024 | 2023 |
| £ | £ | ||
| CAF 90 day notice account with Scottish Widows Bank | 35,100 | 34,692 | |
| Lloyds Bank plc | 16,689 | 23,174 | |
| 51,789 | 57,866 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I report on the financial statements of TASRLS for the year ended 31 March 2024 which are set out on pages 3 to 6.
Respective responsibilities of Trustees and Examiner
The Trustees of TASRLS are responsible for the preparation of the financial statements. The Trustees consider that an audit is not required for this year and that, under section 145(1) of the Charities Act 2011 ("the Act"), an independent examination is required. It is my responsibility to examine the finacial statements under section 145 of the Act, to follow the procedures laid down in the General Directions given by the Charity Commissioners, under section 145(5)(b) of the Act, and to state whether particular matters have come to my attention.
Basis of Independent Examiner's statement
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by TASRLS and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the Trusteees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently, no opinion is given as to whether the financial statements present a "true and fair" view and the report is limited to those matter set out in the statement below.
Indepenebdent Examiners's statement
In oonnection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the Act, and to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act, have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Clare Brown FCCA 66B Limited
66B Smith Street, Warwick CV34 4HU
Page 6