REGISTERED COMPANY NUMBER: 04789736 (England and Wales) REGISTERED CHARITY NUMBER: 1102787 12 DSC 2021 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 The Pound Arts Trust Limited Mander Duffill Chartered Accountants The Old Post Office 41-43 Market Place Chippenham Wiltshire SN15 3HR
The Pound Arts Trust Limited Contents of the Flnancial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report Statement of Flnanclal Activities Balance Sheet 9 to 10 Notes to the Flnanclal Statements 11 to 17 Detalled Statement of Financial Activities 18 to 19
The Pound Arts Trust Limited Re ort of the Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Our Mission Connecting people through creativity. Ourvalues For the communities in our region to be engaged with breathtaking artistic experiences, regardless of their background or circumstances. To be a creative catalyst and a place of refuge, discovery and nourishment for the public and artists alike. To maintain and grow a sustainable flagship arts provision across the region that acts as a model for excellent work that engages the soul, stimulates the mind and entertains the spirit of our communities. Our Vislon Artistic Excellence championed across a broad range of art forms Creativity through developing and supporting artists Social Responsibility by fostering respect for diversity and community cohesion Inclusion by stripping down barriers to engagement Page 1
The Pound Arts Trust Limited Re ort of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Significant activities The Pound Arts Trust Limited delivers more than 230 performances and films, 160 participatory arts events and a minimum of 8 exhibitions a year at The Pound arts centre and around 60 rural venues across Wiltshire and South Gloucestershire. The Trust works in partnership with other arts organisations, schools & youth development agencies, local authorities, community groups, volunteers and funding bodies to deliver a comprehensive annual arts programme across the county, in particular, within rural areas. The three strands within Pound Arts are.. The Pound acts as a hub for the arts in north Wiltshire and is open 50 weeks of the year for up to 70 hours a week and programmes more than 150 performances and films, 120 participatory events and a minimum of 8 exhibitions a year. It provides performance, gallery, rehearsal and workshop spaces for both professional and community artists. It also houses three resident emerging artists, in open studios, and a programme of activity designed to provide professional development for these artists and the region's wider artistic community. It also provides support and a box office facility to a variety of arts organisations and events. Rural Arts Touring programmes up to 100 performance and 20 participatory arts events a year in up to 60 villages across Wiltshire and South Gloucestershire. This work is predominantly music and theatre based although we occasionally programme comedylfilmlvisual arts. This work is produced in partnership with volunteer promoters in the 60 villages. Festivals. We operate festivals annually.. Blue Sky Festival {June) in which we programme mainly free family-focussed events, concentrating on music, crafts, theatre, theatre, comedy, visual arts and participatory work. Workshop activity and work with local schools feature heavily in this festival. Magic & Mayhem Festival (November) irs which we focus on cabaret, magic, mentalism, burlesque, circus, theatre, visual arts, vintage, and dance. The events in this festival take place in a variety of venues in and around Corsham, celebrating the historic nature of the venues with performances and events. Both Festivals take place inlaround Corsham in a variety of venues. As well as The Pound arts centre we present work in Corsham Town Hall, St Bartholomew's Church, The Almshouses, Sprirsgfield Campus and others. We strive to use our Festival work to widen the reach of our programme beyond known attenders of The Pound. Publlc beneflt When considering the aims of the charity the trustees have had regard to the guidance issued by the Charity Commission on public benefit. Page 2
The Pound Arts Trust Limited Re ort of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities Our mission is Connecting People Through Creativity. This is how we did this in 2023124. 2023-24 has been a very busy year for Pound Arts. We have continued to attract very high average attendance against a backdrop of economic uncertainty. We earned more ticket income in this year than in any other year in our history but this has been offset by the cost of living crisis which has featured very high levels of inflation which has affected all of our expenditure. Vvhilst our statutory levels of funding have remained at standstill levels, our costs have risen sharply. We have combatted this through diversifying income through increased fundraising and a strong trading performance but the picture for cultural organisations remains difficult. This picture is reflected in cultural organisations throughout the country we are by no means alone in this overall picture. The artistic programme has been very strong in this period and very well supported by our communities. The programme has included star names such as Chris Difford (Squeeze), Chris Mccausland, Tom Robinson, Cara Dillon, John Kearns, Omid Djallili, Paul Foot, Richard Herring, The Gigspanner Trio, Nick Helm, John Robb, Rich Hall, Kiri Pritchard McLean, Andy Zaltzman, Tom M¢Rae and Martha Tilston, amongst others. For artists of this calibre to be presented throughout the year to the communities of Corsham is something to be very proud of. Within the programme we run lunchtime recitals aimed at older people and a rich screen programme focussing on independent films, foreign films and arthouse cinema. We also regularly screen productions from the National Theatre and have recently added a strand of screening filmed performances of outstanding opera and ballet. We also have a gallery space which exhibits outstanding visual arts throughout the year. In this year we presented 16 exhibitions by a diverse range of artists working across different media including painting, sculpture, drawing and digital. We have three artist studios on site and this year welcomed a new artist, oil painter Laura Richards, to the fold. The average attendance for live work (music, theatre, comedy, dance, spoken word} was a record high 760/0. Comedy and music lead the way in this, but all live work attracted very good audiences. Our fi'lm programme attracted an average attendance of 23 % since the pandemic films are available to stream online on multiple platforms which explains this difference. Our 0 festivals l The Blue Sky Festival & Magic & Mayhem) are intense week long festivals with their own thematic programming. The festivals this year have seemed to stabilise post pandemic and we are looking at how we can expand delivery in coming years. This year also saw some return to normality for our Rural Touring schemes {Rural Touring Wiltshire & Rural Touring South Gloucestershirel with the first full programme launched since the beginning of the pandemic. Rural Touring, which is presented in partnership with volunteers from rural areas all across the region, sees Pound Arts have a significant impact on small communities over a large geographic area. We have continued to run a very significant artist support programme behind the scenes. In the reporting period we ran 21 residencies, which saw work produced which then toured nationally. This ensures that Corsham is playing a national role in the arts ecology of England, and that, where appropriate and possible, we are helping artists and companies to develop their craft and business practices. Our Creative Learning programme runs alongside all other work, and whilst we work with all ages, we have specific focus on the very young and the very old. In the year we had a staggering 60,588 attendances in the year in the programme. This is a mixture of weekly events and one off projects. Overall capacity for OLJr Creative Learning work was 950/0. We continue to play a key role in county-wide projects like Celebrating Age (providing activities for isolated older people) and FUEL (which provides food and activity for children and young people in food povety). Increasingly our Creative Learning programme has a focus on using the arts for a public health benefit. Another focus has been providing activities which promote good mental health amongst children and young people (this year an accessible music therapy suite has been created to accompany the existing music therapy suite which is situated on the first floor of the building. We continue to lead the drive for environmental responsibility for the cultural sector as the Culture DeGIaS Emergency Hub for the region (Wiltshire, Hampshire, BANES, Dorset). We are developing further the community garden and making adjustments to our own building to reduce our own environmental impact. Page 3
We remain committed to ensuring that the festival element of our programme serves a different purpose to the rest of our work, giving audiences a reason to visit Corsham over the intensity of the Festival period, and during their visit to encounter local businesses and the heritage of our beautiful town. We are grateful to Arts Council England, Wiltshire Council and Corsham Town Council, as well as several Trusts and Foundations and individual givers for their ongoing support for our work. FINANCIAL REVIEW Financial position For the year ended 31 March 2024, the charity is reporting a deficit of £71,184 (2023.. deficit of £86,104). Page 4
The Pound Arts Trust Limited Re ort of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW Reserves policy It is the policy of the charity that unrestricted funds which have not been designated for a specific and are readily converted to cash (free reserves) use should be maintained at a level equivalent to at least three months running costs. At year end, free reseNes were £4,360 and the target level for reserves has been determined to be around £70,000. The Trustees last reviewed this policy in February 2022 and agreed that this is still an appropriate level. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's CLsrrent activities while consideration is given to ways in which additional funds may be raised. The Trustees are aware that the year-end free reserves balance is below the target level balance and are fundraising to increase the level of free reserves. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04789736 (England and Wales) Registered Charlty number 1102787 Reglstered offlce The Pound Arts Centre Pound Pill Corsham Wiltshire SN13 9HX Trustees C Norman Trustee (resigned 11.12.23) K R Roynon Trustee S A Dawes Trustee E J Crarer Trustee E V Catterall Trustee A J Walton Chair M Robertson Trustee A M Walters Trustee (resigned 11.12.23) A H F Shepherd Trustee J Knight (appointed 29.5.24) M A Johnson (appointed 29.5.24) C Parker (appointed 1.9.24) Company Secretary D R Tunney Independent Examiner Mander Duffill Chartered Accountants The Old Post Office 41-43 Market Place Chippenham Wiltshire SN15 3HR Page 5
The Pound Arts Trust Limited Re ort of the Trustees for the Year Ended 31 March 2024 TREASURER'S REPORT The 2023124 year has been financially challenging, though we have seen income recover from the significant impacts of the Covid-19 pandemic. However, costs continue to rise, and competition for Trusts and Foundations funding remains intense. Total income increased to £467,471 (2023.. £448,773), driven primarily by a rise in trading activities from the box office and facility hire. However, income from other charitable activities decreased compared to the previous year, which included grant income of £36,834. Additionally, reduced staff capacity has continued to impact our fundraising efforts. Total expenditure has also increased, mainly due to higher performer and artist fees. The total expenditure includes depreciation of £43,209 related to leasehold improvements. The income for these improvements was fully recognized in previous years, contributing to a deficit of £71,184 in the current year. The Trust continues to set budgets based on a break-even position, excluding depreciation and other non-cash adjustments. The Trustees have identified a need to increase fundraising income to bridge the gap beeen fixed core funding levels and rising costs. This will be achieved through careful management of performance scheduling and stringent cost control measures. Public funding for the Trust's core activities has remained stable, with Arts Council England funding secured through 2026. We are extremely grateful for the support received from Arts Council England, Wiltshire Council, and Corsham Town Council, as well as all other public and private funds. This vital support enables us to provide quality arts events for the Gommunity. Approved by order of the board of trustees on I£/Iiiz4 and signed on its behalf by.. C Parker- Trustee Page 6
Inde endent Examinerfs Re ort to the Trustees of The Pound Arts Trust Limited Independent examiner's report to the trustees of The Pound Arts Trust Limited ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 ACVJ. 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in 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 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 IFRS 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. A J Davis The Institute of Chartered Accountants in England and Wales Mander Duffill Chartered Accountants The Old Post Office 4143 Market Place Chippenham Wiltshire SN15 3HR Date: Page 7
The Pound Arts Trust Limited Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 11,659 11,659 8,746 Charitable activities Funders Capital Grants 181,958 (5,928} 176,030 155,862 36,834 Other trading activities Investment income 279,178 604 279,178 604 247,094 237 Total 473,399 467,471 448,773 EXPENDITURE ON Funded projects 182,161 1,057 183,218 172,625 Charitable activities Funders Other 355,437 355,437 362,252 Total 537,598 1,057 538,655 534,877 NET INCOMEIIEXPENDITURE) Transfers between funds (64,199) 36,899 (6,985) 36,899) (71,184) (86,104) 11 Net movement in funds 127,300) (43,884) (71,184) {86,104} RECONCILIATION OF FUNDS Total funds brought fOard 283,026 44,384 327,410 413,514 TOTAL FUNDS CARRIED FORWARD 255,726 500 256,226 327,410 The notes form part of these financial statements Page 8
The Pound Arts Trust Limited Balance Sheet 31 Ivlarch 2024 31.3.24 Total funds 31.3.23 Totsl funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets 251,366 251,366 302,546 CURRENT ASSETS Debtors Cash at bank and in hand 31,717 45,757 31,717 46,257 15,469 95,721 500 77,474 500 77,974 111,190 CREDITORS Amounts falling due within one year 10 {73,114) (73,1141 (86,3261 NET CURRENT ASSETS 4,360 500 4,860 24,864 TOTAL ASSETS LESS CURRENT LIABILITIES 255,726 500 256,226 327,410 NET ASSETS 255,726 500 256 226 327,410 FUNDS Unrestricted funds Restricted funds 11 255,726 500 283,026 44,384 TOTAL FUNDS 256 226 327,410 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes form part of these financial statements Page g continued...
The Pound Arts Trust Limited Balance Sheet - continued 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. alton - Trustee C Parker- Trustee The notes form part of these financial statements Page 10
The Pound Arts Trust Limited Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 1021 (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to leasehold Fixtures, fittings and equipment Computer equipment Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company'5 pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 11 continued...
The Pound Arts Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Box office income Facility hire Gallery Sales 205,813 70,975 2,390 175,854 67,221 4,019 279,178 247,094 INVESTMENT INCOME 31.3.24 31.3.23 Deposit account interest 604 237 NET INCOMEI{EXPENDITURE) Net incomel{expenditure) is stated after chargingl(creditingl'. 31.3.24 31.3.23 Depreciation - owned assets 51,180 51,180 AUDITORS, REMUNERATION 31.3.24 31.3.23 Fees payable to the charity's auditors for the audit of the charity's financial statements Accountancy 1,597 1,475 1.579 1,457 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS The average monthly number of employees during the year was as follows.. 31.3.24 31.3.23 11 Employees No employees received emoluments in excess of £60,000. Page 12 continued...
The Pound Arts Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Fixtures, fittings and equipment Improvements to leasehold Computer equipment Totals COST At 1 April 2023 and 31 March 2024 432,088 116,745 3,068 551,901 DEPRECIATION At 1 April 2023 Charge for year 160,708 43,209 86,878 7,496 1,769 475 249,355 51,180 At 31 March 2024 203,917 94,374 300,535 NET BOOK VALUE At 31 March 2024 228,171 22,371 824 251,366 At 31 March 2023 271380 29,867 1,299 302,546 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors Other debtors Prepayments 8,173 18,894 4,650 7,899 6,507 1,063 15,469 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors Social security and other taxes Accrued expenses 31,061 3,078 38,975 55,538 2,863 27,925 73,114 86,326 Page 13 continued...
The Pound Arts Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Corsham Town Council - Coronation Corsham Town Council - Taste Festival D'oyly Carte Gallery sales 60V/o CIC sales via box office CWF Storytown SPARK 282,026 500 500 (70,459} (500) (500) 4,450 179 355 1,174 178 924 36,899 248,466 4,450 179 355 1,174 178 924 283,026 {64,199) 36,899 255,726 Restricted funds Spark 2022 Local Youth NeOrk Mothers Who Make Culture Welcomes Refugees Shlomo 2023 Building Improvement AB LED Lighting 2,000 1,057 500 848 900 2,180 36,899 (2,000} (1,057} 500 (848) (900} 12,180} 36,899) 36,899 500 TOTAL FUNDS 327,410 71184) 256 226 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund Corsham Town Council - Coronation Corsham Town Council - Taste Festival D'oyly Carte Gallery sales 600/9 CIC sales via box office CWF Storytown SPARK 467,139 (5001 (5001 4,450 179 355 1,174 178 924 (537,598) (70,459) (500} (500} 4,450 179 355 1,174 178 924 473,399 (537,598) (64,199) Restricted funds Spark 2022 Local Youth Network Culture Welcomes Refugees Shlomo 2023 Building Improvement AB {2,000) (2,0001 (1,0571 18481 19001 2,1801 (1,057) (848) (900) 2,180) 5,928) 1,057) 6,985) TOTAL FUNDS 467,471 538,655) 71,184) Page 14 continued...
The Pound Arts Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS - continued Comparatives for movement In funds Net movement in funds Transfers beeen funds At 31.3.23 At 1.4.22 Unrestricted funds General fund Corsham Town Council - Coronation Corsham Town Council - Taste Festival 408,041 (125,950) 500 500 {65} 282,026 500 500 408,041 {124,9501 (65) 283,026 Restricted funds Free School Meals Spark 2022 Local Youth Neork Mothers Who Make Groundwork Culture Welcomes Refugees Shlomo 2023 Building Improvement AB LED Lighting (1) 100 (1,905) 1,900 2,962 500 50 60 2,000 1,057 500 {501 788 900 2,180 36,834 848 900 2,180 36,899 65 5,473 65 44,384 TOTAL FUNDS 413,514 86 104) 327,410 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund Corsham Town Council - Coronation Corsham Town Council - Taste Festival 406,971 500 500 (532,921) (125,950) 500 500 407,971 (532,921) (124,950) Restricted funds Free School Meals Spark 2022 Local Youth NeOrk Groundwork Culture Welcomes Refugees Shlomo 2023 Building Improvement AB LED Lighting (1) (1) 100 (1,905) 150) 788 900 2,180 36,834 100 (1,905) (50) 788 goo 2,180 36,834 40,802 1,956 38,846 TOTAL FUNDS 448,773 534,877) 86,104) Page 15 continued..
The Pound Arts Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows-. Net movement in funds Transfers beeen funds At 31.3.24 At 1.4.22 Unrestricted funds General fund D'oyly Carte Gallery sales 600/0 CIC sales via box office CWF Storytown SPARK 408,041 (196,409) 4,450 179 355 1,174 178 924 36,834 248,466 4,450 179 355 1,174 178 924 408,041 (189,149) 36,834 255,726 Restricted funds Free School Meals Spark 2022 Local Youth NeOrk Mothers Who Make Groundwork Culture Welcomes Refugees LED Lighting {1) (1,900) (2,962) 1,900 2,962 500 50 60 500 (50) (60) 36,834 36 8341 36 834) 500 TOTAL FUNDS 413,514 157,288) 256,226 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund D'oyly Carte Gallery sales 60 % CIC sales via box office CWF Storytown SPARK 874,110 4,450 179 355 1,174 178 924 11,070,519) (196,409} 4,450 179 355 1,174 178 924 881,370 (1,070,519) {189,149) Restricted funds Free School Meals Spark 2022 Local Youth Neork Groundwork Culture Welcomes Refugees LED Lighting (1) (1} {1,900} {2,962} {50) {601 36,834 {1,900) (2,962} 150) (60) 36,834 34,874 3,013) 31,861 TOTAL FUNDS 916,244 (1,073,532) (157,288) Page 16 continued...
The Pound Arts Trust Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 12. RELATED PARTY DISCLOSURES Pound Arts Trading Community Interest Company is a company limited by guarantee which has the following trustees as directors.. K R Roynon A J Walton (resigned 11.1.241 S A Dawes K L Crawford A H F Shepherd (appointed 11.1.24) The Pound Arts Trust Limited was charged expenditure of £1,764 (2023.. £7,926) from Pound Arts Trading Community Interest Company within the reporting period. The Pound Arts Trust Limited has charged expenditure of £5,617 (2023: £8,606) to Pound Arts Trading Community Interest Company within the reporting period. Included within debtors is a loan receiveable to the Pound Arts Trading Community Interest Company of £6,700. The Pound Arts Trust Limited does not intend to call in this debt in the foreseeable future. No donations were received in the year from Pound Arts Trading Community Interest Company. Page17
The Pound Arts Trust Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legacies Donations 11,659 8,746 Other trading activities Box office income Facility hire Gallery Sales 205,813 70,975 2,390 175,854 67,221 4,019 279,178 247,094 Investment income Deposit account interest 604 237 Charitable activities Funders Grant income 176,030 155,862 36,834 176,030 192,696 Total incoming resourc88 467,471 448,773 EXPENDITURE Expenditure on activities, donations and legacie8 Performer and artists fees Gallery purchases Creative learning Film fees and expenses 167,206 1,897 6,345 156,995 2,423 6,647 6,560 183,218 172,625 Support costs Finance Booking and bank charges 12,497 10,972 Governance costs Wages Pensions Independent examination fee Accountancy Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Marketing Carried fOard 189,646 3,638 1,597 1,475 5,510 2,626 18,960 2,260 1,059 6,882 31,515 265,168 181,872 2,984 1,57g 1,457 10,746 2,263 23,919 1,984 339 8,667 41,360 277,170 This page does not form part of the statutory financial statements Page 18
The Pound Arts Trust Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Governance costs Brought forward Administrative expenses Computer costs staff and trustee training Subscriptions Repairs and renewals Depreciation of tangible fixed assets 265,168 1,420 9,453 2,458 4,120 9,141 51,180 277,170 1,797 6,492 3,244 5,657 5,740 51,180 342,940 351,280 Total resources expended 538,655 534,877 Net expenditure 71184) 86,104) This page does not form part of the statutory financial statements Page 19