**REGISTERED CHARITY NUMBER: 1105490**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **FOR**
## **THE ARTS SOCIETY NORTH WEST NORFOLK**
Wheelers
Chartered Accountants & Tax Consultants 27-29 Old Market Wisbech Cambridgeshire PE13 1NE
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
|**Detailed Statement of Financial Activities**|11|to|12|
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2023**
The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. 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**
The charity works to advance decorative and fine arts appreciation in North West Norfolk with particular emphasis on encouraging participation of young people through discretionary financial assistance to selected local primary schools.
## **Public benefit**
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing aims and objectives and in planning future activities.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year, the charity made donations to Young Arts amounting to £3,714 and donations to Norfolk Primary Orchestra activities of £9,415.
## **FINANCIAL REVIEW**
## **Financial position**
The Trustees are satisfied with the transactions of the charity and its financial position as at 5 April 2023 as shown in the accompanying accounts.
During the year ended 31 March 2023, the charity received a grant of £15,250. The grant is to promote music in schools in North Norfolk, with the project called "Norfolk's Primary Orchestra".
## **Investment policy and objectives**
The trustees' policy on investment is a prudent approach which minimises risk by investment in deposit accounts with CAF Bank Limited.
## **Reserves policy**
The charity aims to retain sufficient reserves to meet its charitable expenditure for a period of at least twelve months.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust dated 13 October 2003, and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
The trustees are elected by the members at the annual general meeting and meet regularly throughout the year.
## **Induction and training of new trustees**
All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charity's objectives. They are aware of both their legal and professional responsibilities under charity law.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
1105490
## **Principal address**
The Forge Heacham Road Sedgeford PE36 5LU
Page 1
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023**
## **Trustees**
G Pepper P L Carling L Nadel
## **Independent Examiner**
Emma Booty FCCA Wheelers Chartered Accountants & Tax Consultants 27-29 Old Market Wisbech Cambridgeshire PE13 1NE
Approved by order of the board of trustees on 20 June 2023 and signed on its behalf by:
G Pepper - Trustee
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ARTS SOCIETY NORTH WEST NORFOLK**
## **Independent examiner's report to the trustees of The Arts Society North West Norfolk**
I report to the charity trustees on my examination of the accounts of The Arts Society North West Norfolk (the Trust) for the year ended 5 April 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Emma Booty FCCA
Wheelers Chartered Accountants & Tax Consultants 27-29 Old Market Wisbech Cambridgeshire PE13 1NE
23 June 2023
Page 3
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023**
|Unrestricted
Designated
Restricted
funds
funds
funds
Notes
£
£
£
**INCOME AND**
**ENDOWMENTS FROM**
Donations and legacies
12,643
-
15,250
Other trading activities
2
1,157
-
-
Investment income
3
21
76
-
**Total**
13,821
76
15,250
**EXPENDITURE ON**
Raising funds
3,864
-
-
Other
7,756
3,714
9,415
**Total**
11,620
3,714
9,415
**NET**
**INCOME/(EXPENDITURE)**
2,201
(3,638)
5,835
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
12,676
6,630
10,211
**TOTAL FUNDS CARRIED**
**FORWARD**
14,877
2,992
16,046|5.4.23
5.4.22
Total
Total
funds
funds
£
£
27,893
25,445
1,157
647
97
3
29,147
26,095
3,864
4,096
20,885
11,601
24,749
15,697
4,398
10,398
29,517
19,119
33,915
29,517|5.4.23
5.4.22
Total
Total
funds
funds
£
£
27,893
25,445
1,157
647
97
3
29,147
26,095
3,864
4,096
20,885
11,601
24,749
15,697
4,398
10,398
29,517
19,119
33,915
29,517|
|---|---|---|
|||26,095|
|||4,096
11,601|
|||15,697|
|||10,398
19,119|
|||29,517|
The notes form part of these financial statements
Page 4
## **THE ARTS SOCIETY NORTH WEST NORFOLK**
## **BALANCE SHEET**
## **5 APRIL 2023**
|Unrestricted
Designated
Restricted
funds
funds
funds
Notes
£
£
£
**FIXED ASSETS**
Tangible assets
6
1,817
-
-
**CURRENT ASSETS**
Debtors
7
2,051
-
-
Cash at bank and in hand
15,913
2,992
16,046
17,964
2,992
16,046
**CREDITORS**
Amounts falling due within one
year
8
(4,904)
-
-
**NET CURRENT ASSETS**
13,060
2,992
16,046
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
14,877
2,992
16,046
**NET ASSETS**
14,877
2,992
16,046
**FUNDS**
9
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|5.4.23
Total
funds
£
1,817
2,051
34,951
37,002
(4,904)
32,098
33,915
33,915
17,869
16,046
33,915|5.4.22
Total
funds
£
2,349
2,873
27,910
30,783
(3,615)
27,168
29,517
29,517
19,306
10,211
29,517|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 20 June 2023 and were signed on its behalf by:
P L Carling - Trustee
G Pepper - Trustee
L Nadel - Trustee
The notes form part of these financial statements
Page 5
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. 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.
Fixtures and fittings - 20% per annum
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
The charity has designated certain funds for specific purposes, such as Young Arts.
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.
## **2. OTHER TRADING ACTIVITIES**
|**OTHER TRADING ACTIVITIES**|||
|---|---|---|
||5.4.23|5.4.22|
||£|£|
|Surplus from events|785|367|
|Income from guests|240|165|
|Lunch raffle|132|115|
||1,157|647|
Page 6
continued...
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023**
## **3. INVESTMENT INCOME**
|**INVESTMENT INCOME**||||
|---|---|---|---|
||5.4.23|5.4.22||
||£|£||
|Deposit account interest|97||3|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
## **Trustees' expenses**
During the year, the charity reimbursed no trustee's expenses (2022 - 1 trustees of £35).
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
Designated
Restricted
funds
funds
funds
£
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
11,696
249
13,500
Other trading activities
647
-
-
Investment income
-
3
-
**Total**
12,343
252
13,500
**EXPENDITURE ON**
Raising funds
4,096
-
-
Other
7,102
1,210
3,289
**Total**
11,198
1,210
3,289
**NET INCOME/(EXPENDITURE)**
1,145
(958)
10,211
**RECONCILIATION OF FUNDS**
Total funds brought forward
11,531
7,588
-
**TOTAL FUNDS CARRIED FORWARD**
12,676
6,630
10,211|Total
funds
£
25,445
647
3|
|---|---|
||26,095|
||4,096
11,601|
||15,697|
||10,398
19,119|
||29,517|
continued...
Page 7
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023**
## **6. TANGIBLE FIXED ASSETS**
|**COST**
At 6 April 2022 and 5 April 2023
**DEPRECIATION**
At 6 April 2022
Charge for year
At 5 April 2023
**NET BOOK VALUE**
At 5 April 2023
At 5 April 2022
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
5.4.23
£
Other debtors
1,964
Prepayments
87
2,051
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
5.4.23
£
Accruals
914
Subscriptions in advance and deferred income
3,990
4,904
**9.**
**MOVEMENT IN FUNDS**
Net
movement
At 6.4.22
in funds
£
£
**Unrestricted funds**
General fund
12,676
2,201
Young Arts
6,630
(3,638)
19,306
(1,437)
**Restricted funds**
Norfolk's Primary Orchestra
10,211
5,835
**TOTAL FUNDS**
29,517
4,398|Fixtures
and
fittings
£
8,905
6,556
532
7,088
1,817
2,349
5.4.22
£
1,859
1,014
2,873
5.4.22
£
420
3,195
3,615
At
5.4.23
£
14,877
2,992|
|---|---|
||17,869
16,046|
||33,915|
continued...
Page 8
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023**
## **9. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|13,821|(11,620)|2,201|
|Young Arts|76|(3,714)|(3,638)|
||13,897|(15,334)|(1,437)|
|**Restricted funds**||||
|Norfolk's Primary Orchestra|15,250|(9,415)|5,835|
|**TOTAL FUNDS**|29,147|(24,749)|4,398|
## **Comparatives for movement in funds**
|Net
movement
At 6.4.21
in funds
£
£
**Unrestricted funds**
General fund
11,531
1,145
Young Arts
7,588
(958)
19,119
187
**Restricted funds**
Norfolk's Primary Orchestra
-
10,211
**TOTAL FUNDS**
19,119
10,398|At
5.4.22
£
12,676
6,630|
|---|---|
||19,306
10,211|
||29,517|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|12,343|(11,198)|1,145|
|Young Arts|252|(1,210)|(958)|
||12,595|(12,408)|187|
|**Restricted funds**||||
|Norfolk's Primary Orchestra|13,500|(3,289)|10,211|
|**TOTAL FUNDS**|26,095|(15,697)|10,398|
continued...
Page 9
**THE ARTS SOCIETY NORTH WEST NORFOLK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023**
## **9. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|Net
movement
At 6.4.21
in funds
£
£
**Unrestricted funds**
General fund
11,531
3,346
Young Arts
7,588
(4,596)
19,119
(1,250)
**Restricted funds**
Norfolk's Primary Orchestra
-
16,046
**TOTAL FUNDS**
19,119
14,796|At
5.4.23
£
14,877
2,992|
|---|---|
||17,869
16,046|
||33,915|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|26,164|(22,818)|3,346|
|Young Arts|328|(4,924)|(4,596)|
||26,492|(27,742)|(1,250)|
|**Restricted funds**||||
|Norfolk's Primary Orchestra|28,750|(12,704)|16,046|
|**TOTAL FUNDS**|55,242|(40,446)|14,796|
## **10. CONTINGENT LIABILITIES**
During the year, The Arts Society North West Norfolk agreed to sponsor £2,500 for the Purcell School Impulse tour in June 2023.
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 5 April 2023.
Page 10
## **THE ARTS SOCIETY NORTH WEST NORFOLK**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023**
|||||5.4.23|5.4.22|
|---|---|---|---|---|---|
||Unrestricted||Restricted|Total|Total|
||funds||funds|funds|funds|
||£||£|£|£|
|**INCOME AND ENDOWMENTS**||||||
|**Donations and legacies**||||||
|Gift aid|1,974||-|1,974|1,860|
|Legacies||-|-|-|13,500|
|Grants||-|15,250|15,250|250|
|Subscriptions|10,669||-|10,669|9,835|
||12,643||15,250|27,893|25,445|
|**Other trading activities**||||||
|Surplus from events||785|-|785|367|
|Income from guests||240|-|240|165|
|Lunch raffle||132|-|132|115|
||1,157||-|1,157|647|
|**Investment income**||||||
|Deposit account interest||97|-|97|3|
|**Total incoming resources**|13,897||15,250|29,147|26,095|
|**EXPENDITURE**||||||
|**Raising donations and legacies**||||||
|Lecturers' fees and expenses|3,864||-|3,864|4,096|
|**Other**||||||
|Arts society affiliation fees|3,650||-|3,650|3,553|
|Young Arts donations and administrative||||||
|expenses|3,714||-|3,714|1,210|
|Norfolk Primary Orchestra donations||-|9,415|9,415|3,289|
||7,364||9,415|16,779|8,052|
|**Support costs**||||||
|**Finance**||||||
|Bank charges||73|-|73|132|
|**Other**||||||
|Computer consumables||120|-|120|192|
|Hall hire and expenses|1,339||-|1,339|1,140|
|Insurance||175|-|175|139|
|Postage and stationery||798|-|798|724|
|Sundries||631|-|631|199|
|Travel||-|-|-|287|
|Carried forward|3,063||-|3,063|2,681|
This page does not form part of the statutory financial statements
Page 11
## **THE ARTS SOCIETY NORTH WEST NORFOLK**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023**
||||5.4.23|5.4.22|
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|funds|funds|
||£|£|£|£|
|**Other**|||||
|Brought forward|3,063|-|3,063|2,681|
|Depreciation of tangible fixed assets|532|-|532|310|
||3,595|-|3,595|2,991|
|**Governance costs**|||||
|Accountancy and legal fees|438|-|438|426|
|Total resources expended|15,334|9,415|24,749|15,697|
|**Net income**|(1,437)|5,835|4,398|10,398|
This page does not form part of the statutory financial statements
Page 12