REGISTERED CHARITY NUMBER: 1105490
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
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 2025
| 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 2025
The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. 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 £3,000 and donations to Norfolk Primary Schools Orchestra activities of £18,830.
FINANCIAL REVIEW
Financial position
The Trustees are satisfied with the transactions of the charity and its financial position as at 5 April 2025 as shown in the accompanying accounts.
During the year ended 5 April 2025, the charity received a grant of £250 from The Arts Society which was donated to the arts department of a local school.
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 2025
Trustees
G I Pepper P L Carling L J 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 12 June 2025 and signed on its behalf by:
G I 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 2025.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
13 June 2025
Page 3
THE ARTS SOCIETY NORTH WEST NORFOLK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025
| Unrestricted Designated Restricted funds funds funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 13,506 250 30,000 Other trading activities 2 2,694 - - Investment income 3 792 - - Total 16,992 250 30,000 EXPENDITURE ON Raising funds 4,576 - - Other 6,792 3,300 18,830 Total 11,368 3,300 18,830 NET INCOME/(EXPENDITURE) 5,624 (3,050) 11,170 Transfers between funds 9 (2,400) 2,400 - Net movement in funds 3,224 (650) 11,170 RECONCILIATION OF FUNDS Total funds brought forward 11,816 7,569 2,025 TOTAL FUNDS CARRIED FORWARD 15,040 6,919 13,195 |
5.4.25 5.4.24 Total Total funds funds £ £ 43,756 13,343 2,694 2,906 792 320 47,242 16,569 4,576 3,915 28,922 25,159 33,498 29,074 13,744 (12,505) - - 13,744 (12,505) 21,410 33,915 35,154 21,410 |
|---|---|
The notes form part of these financial statements
Page 4
THE ARTS SOCIETY NORTH WEST NORFOLK
BALANCE SHEET
5 APRIL 2025
| Unrestricted Designated Restricted funds funds funds Notes £ £ £ FIXED ASSETS Tangible assets 6 1,963 - - CURRENT ASSETS Debtors 7 43 - - Cash at bank and in hand 19,503 8,919 13,195 19,546 8,919 13,195 CREDITORS Amounts falling due within one year 8 (6,469) (2,000) - NET CURRENT ASSETS 13,077 6,919 13,195 TOTAL ASSETS LESS CURRENT LIABILITIES 15,040 6,919 13,195 NET ASSETS 15,040 6,919 13,195 FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
5.4.25 Total funds £ 1,963 43 41,617 41,660 (8,469) 33,191 35,154 35,154 21,959 13,195 35,154 |
5.4.24 Total funds £ 2,849 37 23,917 23,954 (5,393) 18,561 21,410 21,410 19,385 2,025 21,410 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 June 2025 and were signed on its behalf by:
P L Carling - Trustee
G I Pepper - Trustee
L J 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 2025
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 | ||
|---|---|---|
| 5.4.25 | 5.4.24 | |
| £ | £ | |
| Surplus from events | 744 | 876 |
| Sponsorships | 1,000 | 1,000 |
| Income from guests | 550 | 455 |
| Lunch raffle | - | 575 |
| Book raffle | 400 | - |
| 2,694 | 2,906 |
Page 6
continued...
THE ARTS SOCIETY NORTH WEST NORFOLK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 5.4.25 | 5.4.24 | |
| £ | £ | |
| Deposit account interest | 792 | 320 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
Trustees' expenses
During the year, one trustee was reimbursed expenses totalling £15 (2024 - £Nil).
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Designated Restricted funds funds funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 13,092 251 - Other trading activities 2,776 130 - Investment income 30 290 - Total 15,898 671 - EXPENDITURE ON Raising funds 3,915 - - Other 7,679 3,369 14,111 Total 11,594 3,369 14,111 NET INCOME/(EXPENDITURE) 4,304 (2,698) (14,111) Transfers between funds (7,365) 7,275 90 Net movement in funds (3,061) 4,577 (14,021) RECONCILIATION OF FUNDS Total funds brought forward 14,877 2,992 16,046 TOTAL FUNDS CARRIED FORWARD 11,816 7,569 2,025 |
Total funds £ 13,343 2,906 320 16,569 3,915 25,159 29,074 (12,505) - (12,505) 33,915 21,410 |
|---|---|
continued...
Page 7
THE ARTS SOCIETY NORTH WEST NORFOLK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
6. TANGIBLE FIXED ASSETS
| COST At 6 April 2024 Disposals At 5 April 2025 DEPRECIATION At 6 April 2024 Charge for year Eliminated on disposal At 5 April 2025 NET BOOK VALUE At 5 April 2025 At 5 April 2024 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.25 £ Prepayments 43 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 5.4.25 £ Accruals 2,420 Subscriptions in advance and deferred income 6,049 8,469 |
Fixtures and fittings £ 10,675 (1,932) |
Fixtures and fittings £ 10,675 (1,932) |
|---|---|---|
| 8,743 | ||
| 7,826 886 (1,932) |
||
| 6,780 | ||
| 1,963 | ||
| 2,849 | ||
| 5.4.24 £ 37 5.4.24 £ 1,420 3,973 5,393 |
||
| 5,393 |
Deferred subscription income brought forward of £2,795 has been released to income during the year. Deferred income as at 5 April 2025 represents subscriptions received in advance of £2,770 and monies received in advance for future trips of £3,279.
9. MOVEMENT IN FUNDS
| Net Transfers movement between At 6.4.24 in funds funds £ £ £ Unrestricted funds General fund 11,816 5,624 (2,400) Young Arts 7,569 (3,050) 2,400 19,385 2,574 - Restricted funds Norfolk Primary Scools Orchestra 2,025 11,170 - TOTAL FUNDS 21,410 13,744 - |
At 5.4.25 £ 15,040 6,919 |
|---|---|
| 21,959 13,195 |
|
| 35,154 |
continued...
Page 8
THE ARTS SOCIETY NORTH WEST NORFOLK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
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 | 16,992 | (11,368) | 5,624 | |
| Young Arts | 250 | (3,300) | (3,050) | |
| 17,242 | (14,668) | 2,574 | ||
| Restricted funds | ||||
| Norfolk Primary Scools Orchestra | 30,000 | (18,830) | 11,170 | |
| TOTAL FUNDS | 47,242 | (33,498) | 13,744 | |
| Comparatives for movement in funds | ||||
| Net | Transfers | |||
| movement | between | At | ||
| At 6.4.23 | in funds | funds | 5.4.24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 14,877 | 4,304 | (7,365) | 11,816 |
| Young Arts | 2,992 | (2,698) | 7,275 | 7,569 |
| 17,869 | 1,606 | (90) | 19,385 | |
| Restricted funds | ||||
| Norfolk Primary Scools Orchestra | 16,046 | (14,111) | 90 | 2,025 |
| TOTAL FUNDS | 33,915 | (12,505) | - | 21,410 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 15,898 | (11,594) | 4,304 |
| Young Arts | 671 | (3,369) | (2,698) |
| 16,569 | (14,963) | 1,606 | |
| Restricted funds | |||
| Norfolk Primary Scools Orchestra | - | (14,111) | (14,111) |
| TOTAL FUNDS | 16,569 | (29,074) | (12,505) |
continued...
Page 9
THE ARTS SOCIETY NORTH WEST NORFOLK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2025
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net Transfers movement between At 6.4.23 in funds funds £ £ £ Unrestricted funds General fund 14,877 9,928 (9,765) Young Arts 2,992 (5,748) 9,675 17,869 4,180 (90) Restricted funds Norfolk Primary Scools Orchestra 16,046 (2,941) 90 TOTAL FUNDS 33,915 1,239 - |
At 5.4.25 £ 15,040 6,919 |
|---|---|
| 21,959 13,195 |
|
| 35,154 |
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 | 32,890 | (22,962) | 9,928 |
| Young Arts | 921 | (6,669) | (5,748) |
| 33,811 | (29,631) | 4,180 | |
| Restricted funds | |||
| Norfolk Primary Scools Orchestra | 30,000 | (32,941) | (2,941) |
| TOTAL FUNDS | 63,811 | (62,572) | 1,239 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2025.
Page 10
THE ARTS SOCIETY NORTH WEST NORFOLK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025
| 5.4.25 | 5.4.24 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS | |||||
| Donations and legacies | |||||
| Gift aid | 2,400 | - | 2,400 | 1,975 | |
| Grants | 250 | 30,000 | 30,250 | 250 | |
| Subscriptions | 11,106 | - | 11,106 | 11,118 | |
| 13,756 | 30,000 | 43,756 | 13,343 | ||
| Other trading activities | |||||
| Surplus from events | 744 | - | 744 | 876 | |
| Sponsorships | 1,000 | - | 1,000 | 1,000 | |
| Income from guests | 550 | - | 550 | 455 | |
| Lunch raffle | - | - | - | 575 | |
| Book raffle | 400 | - | 400 | - | |
| 2,694 | - | 2,694 | 2,906 | ||
| Investment income | |||||
| Deposit account interest | 792 | - | 792 | 320 | |
| Total incoming resources | 17,242 | 30,000 | 47,242 | 16,569 | |
| EXPENDITURE | |||||
| Raising donations and legacies | |||||
| Lecturers' fees and expenses | 4,576 | - | 4,576 | 3,915 | |
| Other | |||||
| Arts society affiliation fees | 3,567 | - | 3,567 | 3,714 | |
| Young Arts donations and administrative | |||||
| expenses | 3,000 | - | 3,000 | 3,369 | |
| Donations | 300 | - | 300 | - | |
| Norfolk Primary Schools Orchestra donations | - | 18,830 | 18,830 | 14,111 | |
| 6,867 | 18,830 | 25,697 | 21,194 | ||
| Support costs | |||||
| Finance | |||||
| Bank charges | 152 | - | 152 | 77 | |
| Other | |||||
| Computer consumables | 91 | - | 91 | 264 | |
| Hall hire and expenses | 872 | - | 872 | 1,287 | |
| Insurance | 191 | - | 191 | 184 | |
| Postage and stationery | 215 | - | 215 | 337 | |
| Carried forward | 1,369 | - | 1,369 | 2,072 |
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 2025
| 5.4.25 | 5.4.24 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| Other | ||||
| Brought forward | 1,369 | - | 1,369 | 2,072 |
| Sundries | 338 | - | 338 | 622 |
| Depreciation of tangible fixed assets | 886 | - | 886 | 738 |
| 2,593 | - | 2,593 | 3,432 | |
| Governance costs | ||||
| Accountancy and legal fees | 480 | - | 480 | 456 |
| Total resources expended | 14,668 | 18,830 | 33,498 | 29,074 |
| Net (expenditure)/income | 2,574 | 11,170 | 13,744 | (12,505) |
This page does not form part of the statutory financial statements
Page 12