REGISTERED COMPANY NUMBER: 4950364 (England and Wales) REGISTERED CHARrrY NUMBER: 1106158 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Wellin on Somerset & District Arts Association A Plus Accountan & Business Solutions Limited The Mount 21 High Street Wellington Somer5et TA21 8QT
Wellin ton Somerset & District Arts Association Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report ststement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 12 Detailed Statement of Financial Activities 13
Wellin on Sornerset & Distriet Arts Association rt of the Trnstees 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 fjnancial statements of the chlty for the year ended 31 March 2024. The bustees 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 l January 2019). OBJECTIVES AND. ACItYlTIES_.: Objectives and aims To advance the education of the public in dram4 singin& music ond visual arts. The activities were previously und¢rtaken by a charity known as Wellington (Somerset) and District Arts Association (charity number 289240). At an extraordinary general meeting held on 22nd July 2003 it W&8 decided that the Association should be incorporated under the Companies Act 1985 and 1989 as a Company Limited by Guarantee. The company was registered witb the Charities Conunission on 4th October 2004 (charity number1106158). The Association is made up of the following constituent bodÈes' Arcadians. Civic Players, Genesis, Operatic Society, Pantomime Grnup and Spectrum. These groups undertake productions and events as described above. ACHIEVEMENT AND PERFORMANCE Charitable activities Wellington Arts Association was able to perforni a number of theatrical production5 during the year and the perforn]ances held were: May 2023 - June 2023 - Little Shop of Horrors- Oat1¢ Society Habeas Corpus - WTC/Civic Players July 2023 - Aladdin Jr- Genesis September 2023 - The Detention - Genesis + September 2023 - A Showc¢ of Songs - Operatic Society November 2023 - A Musical Extravaganza - Operatic Society December 2023 - Christmas at the Wellesley- Community Concert January 2024 - Robin Hood and th Babes in the Wood - Pantomime Further improvements have been made to the The Arts Centre building ID order that it can be more fully utilised in the e. FINANCIAL REVIEW Reserves policy All income is used to maximise the ability of the Twst to fulfil its charitable objectives and to retain sufficient reserves for anticipated tUre requirements. Each constituent group withill the charity maintains and controls a separate bank account to ensure the continuation of its activities. There are no funds in deficit. The company achieved a surplus of £5,015 (2023 - there was a deficit incurred of £8,241). Productions and events produced a gross surplus of £10,593 (2023 - there was a gross surplu5 of £10,329). Capital expenditure of £3.743 was incurred (2023 - capital expenditure of £12,269 was Incu¢d). Bank balances have increased by £1,075 (2023 - there w&s a decre&se of £10,178). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing documenL a deed of tn( and constitutes a limited company> Itmited by guarantee, as defmed by the Companies Act 2006. Recruitment and appointment of new trustees New tntee5 are appointed by members at the annual general meetin Page I
Wellin ton Somerset & District Arts Association ort of the Trnstees for the Year Ended 31 March 2024 REFERENCE AND ADIlIlSTRTIVE DETAILS Registered Company nujnber 4950364 (England and Wales) Registered Charity number I I06158 Registered offlce The Arts Centre Eight Acre Lane Wellington Somerset TA218PS Trustees S Spalding Director & Vi¢e-Chaitman M J Redstone Director, Secretary & Treasurer M R Rose Director & Pr¢sident Miss C A Knighton Director & Chairman Independent Examiner Mrs S J Fullstone A Plus Accountancy & Business Solutions Limited The Mount 21 High Street Wellington Somerset TA218QT Approved by order of the board of trnstees on 23 December 2024 and Slfted on its behalf by: M J Redstone - Trustee Page 2
Ind¢ endent Examiner's Re ort to the Trustees of Wellin ton Somerset & District Arts Association Independent examiner'5 report to the trustees of Wellillgton {Somerset) & District Arts Association ('the Company,) I report to the charity tsvstees on my examiDation of the accounts of the Company for the year ended 31 Mah 2024. Responsibilities and basis of report As the charAty'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 Cthe 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 eligibl@for.dependellt examinatio I report in respect of rny examination of your charity's accounts as 'carried. out under Section 145 of the Charities Act 2011 (Ihe 2011 Act?. In canying out my examination I have followed the Directions given by the Charity Commission under Sertion 145(5) Ib) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirni 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 tbe 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 ttue and fair view whÈch is not a Matter considered as part of an independent examination. or the accounts have not be¢n 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 (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn ID tbis report in ordei to enable a proper understanding of the accounts to be reached. Mrs S J Fullstone A Plus Accountancy & Business Solutions Limited The Mount 21 High Street Wellington Somerset TA218QT Date: .......... Page 3
Wellin ton Somerset & District Arts Association Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total fLmds UnTestricted funds Restrict¢d fimd Notes INCOME Al ENDOWMENTS FROM Donations and legacies 205 205 1,693 .Other tradin&actr.viti¢s Invesiment income 57,169-., 352 352 98 Total 57,726 57,726 59,211 EXPEM)fruRE ON Other 52,711 52,711 67,450 NET INCOMEI(EXPENDITURE) 5,015 5,015 (8.239) RECONCILIATION OF FUNDS Total fimds brought forward 269,956 269,956 278,195 TOTAL FUNDS CARRIED FORWARD 274,971 274,971 269,956 The notes forn) part of these financial statelnents Page 4
Wellin ton Somerset & District Arts A550ciation Balance Sheet 31 Mareh 2024 31.3.24 Total funds 31.3.23 Totsl funds Unrestricted funds Restrictsd fund Notes FIXED ASSETS Tangible assets Inveslments 174,056 loo 174.056 100 174,559 loo 174,156 174,156 174,659 CURRENT ASSETS Debtors Cash at bank 7.137 99,150 7,137 99,150 5,807 98,075 106287 106,287 L03,882 CREDrroRS knounts falling due within one year io (5.472) (5.472) (8,585) IYET CURRENT ASSETS 100,815 100,815 95297 TOTAL ASSETS LESS CURRENT LIABILITIES 274,971 274,971 269,956 NET ASSETS 274,971 274,971 269,956 FUNDS Unrestricted fiuids 274,971 269,956 TOTAL FUNDS 274,971 269,956 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 tntstees 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 (b) preparing financial statements which give a trne and fair view of the state of affairs of the charitable company as at the end of each fmancial year and of its surplus or deficit for each fmancial year in accordance with the requirements of Sections 394 and 395 and which othenvise comply with the requirements of the Companies Act 2006 relating to fmancial statements, so far as applicable to the charitable company. The notes fonn part of these financial statements Page 5 continued...
Wellin ton Somerset & Distriet Arts A550ciation Balance Sheet- continued 31 March 2024 Thése fancial statements have been prepared in accordance with the provisions applicable to charitsble companies subject to the small companies regime. The financial statements were approved by the Board of TneeS and authorised ft?r issue on 23 December 2024 and were signed on its behalf by: M J Redstone - Tntee The notes fom part of these financial statetnents Page 6
Wellin on Somerset & District Arts Association Notes to the Financial Stgtements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The fAnancial statements of the charitable cornpany, which is a public benefit entlty under FRS 102, have been prepared in accordance with the Chatities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial ReportRng Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, ,FinanGial Reporting Standard 102 The Financial Reporting Standard applicable Én the UK arid Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. Tangible fixed assets Depreciation is provided at the following annual ratss in order to write off each asset over its estimated useful life. Fixtures & equipment 15 % on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted fimds 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 rdised for particular restricted purposes. Further explanation of the nature and PUTpose of each fund is included in the notes to the financial statements. OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Productions & events Rents & car parking Mernbership Other 44,039 9,275 2,068 1,787 44,222 7,623 1,908 3,667 57,169 57,420 tNVESTMENT JNCOlktE 31.3.24 31.3.23 Bank & building society 352 98 Page 7 continued...
Wellin on Somerset & District Arts Association Notes to tbe Fin2Dcial Staternents - continued ror the Year Ended 31 March 2024 NET INCOMEI(EXPENDITURE) Net income/(expendtture) is stated after Chargin(CreditIng)." 31.3.24 31.3.23 Depreciation - owned assets 4,246 4,334 TRUSTEES, REIITUNERAT1014 AND BENEFrrs There were no ttvstees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no ttustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMEPIT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted fund Total fijnds INCOME AND ENDOWMENfs FROM Donations and legacies 1,693 1,693 Other trading activities Inve5ttnent income 57,420 98 57,420 98 Total 59,211 59,211 EXPENDITURE ON Other 67,450 67,450 NET INCOMEI(EXPENDITURE) {8,239) (8,239) RECONCILIATION OF FUNDS Total fimds brought forward 278,195 278,195 TOTAL FUIYDS CARRtED FORWARD 269,956 269.956 Page 8 continued...
Wellin on Somerset & District Arts Association Notes to the Financial Statements - continued for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Freehold propety Fixthres & equipment Totals COST At l April 2023 Additions 150,000 78,533 3,743 228,533 3,743 At 31 March 2024 150,000 82,276 232,276 DEPRECIATION At l April 2023 Charge for year 53,974 4,246 53,974 4246 At 31 March 2024 58.220 58,220 NET BOOK VALUE At 31 March 2024 150.000 24.056 174,056 At 31 March 2023 150,000 24,559 174,559 FIXED ASSET INVESTMENTS Unlisted investments MARKET VALUE At l April 2023 and 31 March 2024 loo NET BOOK VALUE At 31 March 2024 loo At 31 March 2023 loo There were no investment assets outside the UK. The investment represents 4 ordinary shares of £25 each in the Wellington (Somerset) Theatre Tn Company Limited. These were transferred to the Wellington (Somerset) & District Arts Association {'W¢w Charlty") on 25th September 2006 from the tnTStees of the Wellington (Somerset) & District Arts Association ("Old Charity ). This was as a result of the change in the charity from one Co[titUted as trustees incorporated as a body ("Old Charity") to one limited by guarantee ("New Clwity) as des¢nl)ed in the trustees report. Page 9 continued...
Wellin on Somerset & District Arts Association Notes to the Financial Statements- contiDued for the Year Ended 31 March 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors 7,137 5,807 io. CREDITORS: AMOUNTS FALLING DUE WITH1]¥ ONE YEAR .3.1.3.24.. Trade creditors Accrned expenses (i) 5,473 8,585 5,472 8,585 ii. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General 269,956 5,015 274,971 TOTAL FUNDS 269,956 5,015 274,971 Net movement in funds, included in the above are &8 follows: Incoming resources Resources expended Movement in furfds Unrestricted funds General 57,726 (52,711) 5,015 TOTAL FUNDS 57,726 (52.711) 5,015 Comparatives for movement in funds Net movement in fimds At 31.3.23 At 1.4.22 Unrestrieted funds General 278,195 (8,239) 269,956 TOTAL FUNDS 278,195 (8,239) 269,956 Page 10 continued...
Welli on Somerset & District Arts Association Notes to the Financial Statements- continued for the Year Ended 31 Marcb 2024 ii. MOVEMENT IN FUNDS - eontinmed CornpaTative net movement in fuD(Ls, included in the above are as follows: Incomlng resources Resources expended Movement in funds Unrestricted.funds. General 59211 (67.450) (8,239) TOTAL FUNDS 59,211 (67,450) (8239) A current year 12 months and prior year 12 months combined position is as follows: Net movement in fijnds At 31.3.24 At 1.4.22 Unrestricted funds General 278,195 (3,224) 274,971 TOTAL FUNDS 278,195 (3,224) 274,971 A current year 12 months and prior year 12 months combined net rnovement in fimds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General 116,937 (120,161) (3,224) TOTAL FUNDS 116,937 (120,161) (3224) Balance 01104123 Movement Transfers between funds Balance 31103124 Unrestricted summa General General Revaluation of fre¢hold propety 46145 138461 1535 47680 138461 Desi nated Civic Players Genesis Operatic Society Pantomime Group Spectrum Wellington Theatre Trust 2393 5780 25738 40753 2058 8626 2677 7376 23349 44753 2047 8626 1596 -2389 40(X) 269954 5015 274969 Pagell continued...
Wellin on Somerset & District Arts Association Notes to the Finan¢i21 Ststements- contlDued for the Year Ended 31 March 2024 12. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2024. Page 12
Wellin on Somerset & District Arts Association Detailed Statement of FiDan¢ial Activitie5 for the Year EDded 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMEiYrs Donations and legacies Donations 205 1,693 Other trading.activiti.,_ Productions & events Rents & car parking Membership Other 9,275 2,068 1.787 7,623 1,908 3,667 57.169 57,420 Investment income Bank & building society 352 98 Total incoming resollrces 57,726 59,211 EXPENDITURE Other Productions & events Donations 33,446 2,318 33,893 2,584 35,764 36,477 Support eosts Management Rates & water Insurance Light & heat Telephone Repairs & waste Cleaning Fees to independent examiner Licences & sundry Storage FixtUTes & equipment 1,072 6,085 (4,349) 814 2,738 2.100 1,416 2,826 1,014 4,441 6,434 576 6,427 3,060 1,339 2,466 882 4,334 4,245 16,947 30,973 Total resources expended 52,711 67,450 Net income/(expenditure) 5,015 (8,239) This page does not forn) part of the statutory financial statements Page 13