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← Wotton Arts Project

2024-03-31-accounts

Wotton Arts Project

(A company limited by guarantee)

Operating as Under the Edge Arts

Report and Unaudited Financial Statements Year ending 31 March 2024

Charity number: 1112129 Company number: 05468311

Wotton Arts Project Annual Report 2024

Contents

Reference and Administrative Details 2
Our Purposes and Activities 3
Chair’s Report 4
Volunteers 6
Main Achievements for the Year and Future Plans 7
Structure and Governance (including Financial Review) 9
Statement of Trustees’ Responsibilities 10
Independent Examiner’s Report 11
Statement of Financial Activities (including Income & Expenditure account) 12
Balance Sheet 13
Notes to Financial Statements 14 - 20

1

Wotton Arts Project Annual Report 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Status

Wotton Arts Project is a company limited by guarantee (registration number 05468311) and is granted charitable status by the Charity Commission under number 1112129. Wotton Arts Project is governed by its memorandum and articles dated 1 June 2005.

It is also known as Under the Edge Arts.

Trustees

The directors of the charitable company (“the charity”) are its trustees for the purposes of the charity law and throughout this report are collectively referred to as the trustees.

The Trustees who served during the year and since the year end were as follows:

Simon Wilde (Co-chair) Richard Hale (Co-chair) Resigned August 2024 Norman Dadd Jacky Tolfree Becki Britton-Griffiths

Venue for activities

The Chipping Hall, The Chipping, Wotton-under-Edge, Gloucestershire, GL12 7AD

Registered Office

14 Cotswold Gardens, Wotton-Under-Edge, Gloucestershire, GL12 7HW

Independent Examiner

Jo Roberts, Willow Accountancy Ltd

Willow Cottage, Valley Road, Wotton-under-edge Glos, GL12 7NP

Bankers

Lloyds, 12 Rowcroft, Stroud, Gloucestershire, GL5 3BD

2

Wotton Arts Project Annual Report 2024

Our purposes and activities

Objects of the Charity

To promote the benefit of the inhabitants of Wotton-under-Edge and the surrounding area without distinction of sex, sexual orientation, race, disability or of political, religious or other opinions, by associating together the said people and the local authorities, voluntary and other organisations in a common effort to advance education in the arts, to promote the arts and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said people.

Summary of Main Objectives

We have established some principles that explain our approach to developing the project and guide us as we make decisions about how to move forward and grow:

We want to create a project that is self-governing, independent and sustainable with a strong forward programme of arts activities.

In carrying out these activities, the Wotton Arts Project Trustees have had regard to the guidance issued by the Charity Commission on public benefit, including the guidance on public benefit and fee charging.

3

Wotton Arts Project Annual Report 2024

Wotton Arts Project: Report of the trustees for the year ending 31 March 2024

The Trustees present their report and the financial statements of the charity for the year ended 31 March 2024, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities.

Chair’s report

Simon and Richard have continued as joint Chairs sharing responsibility since the start of 2023. UTEA continues to support the belief that arts can improve our general well-being especially important given the cost-of-living crisis. It continues to be a key contributor to the economic, social and cultural life of Wotton and the surrounding area. As ever we have tried hard to offer a programme that caters for tastes and ages to encourage new people through our doors and to show that we are here for anyone and everyone. This year we have broadened our scope again to make us more inclusive than ever. Our events included an extremely successful Drag Night and trailing of Art classes for teenagers We continue to offer a fantastic range of classes and events here as well as offering a central, convenient space for hire.

Our 2023-2024 programme saw Fred Talks continuing and well-attended and popular events hosted by the Wotton Climate Action Network. We embraced drama, Rain or Shine with Frankenstein and Shakespeare in the Parc with a Comedy of Errors. Mark Pascoe again produced a fabulous evening of poetry prose and music with a local theme and comedy returned with Cerys Nelmes. Thanks to Steve Varman who organised and co-ordinated the Annual Art Exhibition and the Paper and Clay Exhibition was well received. We have continued our links with the Blues Festival and The Edge Sound system as well as hosting Keepers Birthday party and a Silent Disco.

As with last year, cost of living pressures have had an impact on attendances at some of our events but we are seeing signs that things are starting to return to pre-pandemic levels. We continue to look at why there are low numbers for certain acts and consider future programming accordingly Improved promotion and marketing of events and activities is an increasing focus for us. Sarah Conroy has been invaluable with her work on the website and marketing ideas.

Thanks again to Ali for her work as Programme Coordinator. She is adept at keeping us abreast of current trends with bookings and ensuring that we have a varied and eclectic mix of performances and acts to ensure something for everyone. There is still a lot of positivity about the UTEA experience and the Chipping Hall and when many venues are closing or cutting back, we are a valued resource.

Caitlin has really grown into her role as the volunteer coordinator and brought initiative and enthusiasm to the role continuing to explore new ways to communicate with and attract new volunteers whilst ensuring our existing volunteers are looked after and valued. Her organisational skills and IT capability have helped streamline our admin and her Board Games Night continues to be successful.

4

Wotton Arts Project Annual Report 2024

Debs whilst no longer on the Board continues to promote and support the Why Not Try Workshops as well as collaborating with other local Arts and Creativity organisations and keeping our finger on the pulse of local and regional initiatives. She continues to explore funding opportunities to include more accessible workshops, outreach work and organise and run the Creative Café which has really taken off with hall users. She and Sam continue to identify and pursue funding and grant opportunities that support our aims and objectives.

Our bar continues to support local businesses and is a key part of our operation. We keep our prices very competitive to ensure that we remain an affordable venue. Our SumUp system has been upgraded and continues to make our operation much easier both for Sam and for the many volunteers who help on the door and at the bar. It has also allowed us to take donations from users, when they buy tickets or drinks. Thanks to our trusty pool of bar volunteers without whom… and especially to Rich who manages all the stock and ordering as well as trouble shooting the Sum Up system.

The Chipping Hall itself is still a constant focus. We are identifying improvements we can make with our limited resources including developing the Fanthorpe Room as a separate lettable space and are grateful to the Town Council for their continued support and their investment in the building including the recent Fire Alarm and safety systems.

Looking forward, our aims and objectives remain as they were last year

As ever thanks to all our Board Members for giving up their time to keep UTEA going as the wonderful organisation it is. Jacky has provided invaluable input and experience as well as supporting and promoting the many wellbeing and wellness activities that we now offer and Becki as well as giving us a more youthful perspective (!) continues to work to ensure that we embrace diversity and equality in what we do. Once again thank you to Norman for his expertise with regards to the business aspect of the organisation and the finances as well as co-ordinating the Christmas Craft fair and the Summer Theatre events.

Thanks to the local organisations that support us particularly The Cotswold Book Room who have sold tickets for us. And last but by no means least thank you to Sam Carlton, our administration consultant. As last year her calm, professional, thoughtful, and wise approach are greatly appreciated by all of us. Not to mention her sense of humour and her immense experience and knowledge of all things UTEA.

UTEA is still a special place. We continue to be a beacon and a key part of the creative and economic life of the Wotton area. We know that the current climate is challenging. Our continuing presence and activities and our partnerships are more essential than ever and we will continue to work hard to ensure that UTEA remains a vital part of Wotton and the surrounding area.

Simon Wilde - Co-Chair

5

Wotton Arts Project Annual Report 2024

Volunteers and Community

Our volunteers remain the heart of everything we do and are integral to running our programme of activities and events. We are lucky to have a core group of regular volunteers.

Volunteer Coffee mornings, to recruit new volunteers and catch up with the existing team, have been increased to four times a year but reduced to one-hour sessions. An additional sign-up evening is now being held around the same time, with positive feedback so far. Volunteers can still sign up via email or now via two new options: phone Whatsapp group and online Jotform listings.

Monthly posts scheduled to the UTEA Facebook page and shared to the local notice boards, highlighting the various roles available, have resulted in new volunteers joining the team.

We now have just over 200 people on the mailing list with 59 different volunteers covering events over the last year. The majority of our events require 1-3 volunteers.

With a range of daytime and evening volunteering opportunities we have something for everyone from coordinating music events to running the bar, baking cakes or helping with craft sessions.

Event details are sent out via the Google Calendar System, allowing visibility for all committee members. General Hall Notes and a Tick Lists for Coordinators is also attached.

Further information can be found in the Volunteer Handbook which has been updated and expanded. A hard copy is kept under the bar and an electronic version will be added to the website shortly.

UTEA caters well to the modern volunteer looking for less formal, low commitment, ad-hoc, short sessions. A monthly volunteer newsletter, post events thank you emails and an event voucher incentive have been introduced to engage volunteers, making them feel valued and encouraging repeat volunteering.

The most popular role is Bar Volunteer and the most difficult roles are Coordinator & Set Up. Rebranding to ‘Meet & Greet’ Volunteer and the possible purchase of new chairs has helped.

UTEA also continues to be popular with DofE students from KLB. Two students continue to volunteer at the Why Not Workshops and another student volunteers with PA/Sound Engineering.

Overall, the volunteer situation at UTEA is looking positive going into 2024-2025.

Caitlin Main - Volunteer Coordinator

6

Wotton Arts Project Annual Report 2024

Main Achievements for the Year and Future Plans

Regular classes and workshops

Arts & Crafts – painting, drawing, quilting, knitting and sewing, wreath-making, life-drawing and portrait-painting.

Music – community choir, rock club, blues group.

Drama & Literature – poetry appreciation, short-story writing.

Dance & Wellbeing – monthly Irish set dancing, weekly Qigong, yoga and Nia classes, Baby Ballet plus gong bath and mindfulness workshops.

Events

This year we have been able to put on a full programme of activities, and have introduced a number of new events.

Live music: these again covered a wide range, from local bands and solo performers to an all-male singing troupe, and a range of music styles from folk and country to tango and cabaret. Tribute acts continue to be very popular, and we were able to host a variety including Ion Maiden, The Bob Villains (Bob Dylan Tribute), So Toto and The Tom Petty Legacy.

Exhibitions: we were delighted to again host the annual art exhibition to carry on the tradition established by Wotton Arts Festival. This featured work by over 50 local artists in a wide range of media. As part of our commitment to promote the work of local artists and craftspeople we also hosted a joint exhibition featuring work by a local children’s book illustrator Eve Coy and a stopmotion animator.

Workshops: these included graffiti, short story writing, guitar and ukulele, and Christmas wreathmaking. We also hosted workshops for the annual Wotton Window Wanderland, to help and inspire the local community to decorate their windows again.

One of our most successful projects was the series of Why Not? Workshops, originally launched between periods of lockdown and since expanded and developed. These started as monthly low-cost workshops held on Sunday mornings, to make art more accessible to the community – offering a chance to try a new craft in a friendly no-pressure environment, with coffee and cake. This year they have been developed to include evening workshops where the UTEA bar is open. New crafts have included macrame, wire flowers, sashiko (Japanese embroidery), cyanotype, plaster casts, and also two sessions with artist and illustrator Imogen Harvey-Lewis.

Other events: theatre productions of Frankenstein and Shakespeare’s The Comedy of Errors, a Christmas Craft Fair, quizzes, comedy evenings, and talks. New additions included a Silent Disco and a sellout Drag Night featuring the fabulous Stroud Drag Collective!

It is important to us that we can continue to offer events that are free-to-attend, such as exhibitions and our monthly Jazz and Blues Jams and Vinyl Nights. We are pleased to have added to these, with monthly Board Games Nights and regular Electronic Open Mic Nights.

7

Wotton Arts Project Annual Report 2024

Website

With the aid of volunteer Sarah Conroy, we are constantly reviewing the website to make it as informative and user-friendly as possible, where people can easily find events and purchase tickets. The majority of ticket sales for our events are now made via the website, although we are also very grateful to Cotswold Bookroom who continue to act as a ticket office for us in the High Street: this is invaluable for those people who cannot or prefer not to buy online.

We are looking at the best way of accepting donations on the website, as lack of funding and increased running costs mean we have to find other sources of income.

Regular email newsletters to subscribers will form an increasing part of our promotional activities, and we are working on ways of streamlining this through automations and links with social media.

Future plans

To make the Chipping Hall a community hub for the arts and make it more accessible.

To continue to offer a wide range of arts activities and events, including free-to-attend.

To develop the Why Not workshops - increase the range of crafts offered, offer outreach workshops at local venues, and offer open sessions where people can book to use the equipment.

To develop other accessible community projects, such as a drop-in Creative Café.

8

Wotton Arts Project Annual Report 2024

Structure, Governance and Management

The project is run and managed by a group of volunteers who are appointed as Directors of the project and its Trustees. The Directors meet bi-monthly as the management board. The main aims of the board are to:

Our activities are supported by two individuals who provide consultancy services to the project. They provide support for the governance and administration of the project, fundraising work and the development of the programme. They deal with some aspects of the day-to-day running of the project, with decisions being approved by the directors.

Trustees are elected by members annually at the Annual General Meeting. A vacancy may be filled or an additional Trustee appointed by co-option. Membership of the project is open to people who pay an annual subscription to join our membership scheme.

The Directors

The Board of Directors, who are Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 2.

Risk review

The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the organisation. Insurance will mitigate some of the risks; maintaining unrestricted reserves and the development and implementation of policies and procedures should mitigate others. These policies and procedures will be reviewed on a regular basis to ensure their effectiveness.

FINANCIAL REVIEW

Trustees recognise that managing reserves is a tricky balancing act. Too much in reserves and Trustees could be accused of hoarding, too little and should a worst-case scenario occur, then Trustees would be unable to meet obligations to creditors. Trustees believe it is prudent to have unrestricted reserves not committed or invested in tangible fixed assets (“the free reserves”) amounting to a sum sufficient to cover running costs for 6 months in case of significant drop in funding. At the balance sheet date, free reserves were £37114. This is currently above the target level.

9

Wotton Arts Project Annual Report 2024

Statement of trustees' responsibilities

The trustees (who are also directors of Wotton Arts Project for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company [and the group] and of the income and expenditure, of the charitable [company/group] for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company [and the group] and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Approved by the trustees and signed on their behalf by:

.............................................................

S Wilde - Chair, Wotton Arts Project

Date ................................................... 2024

10

Wotton Arts Project Independent Examiners Report

Independent Examiner's Report to the trustees of Wotton Arts Project

I report to the charity trustees on my examination of the financial statements of Wotton Arts Project 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity 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 financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). 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

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

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 financial statements to be reached.

J M Roberts Willow Accountancy Willow Accountancy Ltd Willow Cottage, Valley Road Wotton Under Edge Glos GL12 7NP 20 November 2024

Page 11

Wotton Arts Project Statement of Financial Activities

for the year ended 31 March 2024

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total
Expenditure on:
Raising funds
6
Charitable activities
7
Other
8
Total
Net gains on investments
Net expenditure
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2024
£
2,931
58,301
221		 Restricted
funds
2024
£
-
382
-		 Total funds
2024
£
2,931
58,683
221		 Total funds
2023
£
16,779
49,611
46
61,453
4,584
45,574
26,258		 382
2,500
9,587
-		 61,835
7,084
55,161
26,258		 66,436
3,252
45,904
19,730
76,416
-		 12,087
-		 88,503
-		 68,886
-
(14,963)
-		 (11,705)
-		 (26,668)
-		 (2,450)
-
(14,963) (11,705) (26,668) (2,450)
(14,963)
69,815		 (11,705)
15,269		 (26,668)
85,084		 (2,450)
87,534
54,852 3,564 58,416 85,084

Page 12

Wotton Arts Project Balance Sheet

at 31 March 2024

Company No.
05468311
Notes
2024
£
Fixed assets
Tangible assets
10
17,738
17,738
Current assets
Stocks
11
1,615
Debtors
12
6,479
Cash at bank and in hand
36,962
45,056
Creditors:Amount falling due within one year
13
(4,378)
Net current assets
40,678
Total assets less current liabilities
58,416
Net assets excluding pension asset or liability
58,416
Total net assets
58,416
The funds of the charity
Restricted funds
14
Restricted income funds
3,564
3,564
Unrestricted funds
14
General funds
54,852
54,852
Reserves
14
Total funds
58,416		 2023
£
21,216
21,216
750
2,072
65,107
67,929
(4,061)
63,868
85,084
85,084
85,084
15,269
15,269
69,815
69,815
85,084

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 20 November 2024

And signed on its behalf by:

S.M. Wilde Trustee

20 November 2024

Page 13

Wotton Arts Project Notes to the Accounts

for the year ended 31 March 2024

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Fund accounting

Income

Page 14

Wotton Arts Project Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 15

Wotton Arts Project Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Income from donations and legacies

Income from donations and legacies
Donations & Fundraising
Grants
Gift Aid
Membership Fees		 Unrestricted
£
1,621
-
-
1,310
2,931		 Total
2024
£
1,621
-
-
1,310
2,931		 Total
2023
£
1,889
12,020
1,510
1,360
16,779

4 Income from charitable activities

Income from charitable activities
Events
Exhibitions
Hall Hire
Income from investments
Expenditure on raising funds
Fundraising trading costs
Publicity & Advertising
Market Research		 Unrestricted
£
42,664
2,516
13,121
58,301
Unrestricted
£
4,584
-
4,584		 Restricted
£
382
-
-
382
Unrestricted
£
221
221
Restricted
£
-
2,500
2,500		 Total
2024
£
43,046
2,516
13,121
58,683
Total
2024
£
221
221
Total
2024
£
4,584
2,500
7,084		 Total
2023
£
33,703
4,709
11,199
49,611
Total
2023
£
46
46
Total
2023
£
3,252
-
3,252

5 Income from investments

6 Expenditure on raising funds

Page 16

Wotton Arts Project Notes to the Accounts

7 Expenditure on charitable activities

Expenditure on charitable
activities
Events
Exhibitions
Programme Event
Coordination
Governance costs
Administrator
8
Other expenditure
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
9
Staff costs		 Unrestricted
£
24,871
1,774
9,919
9,010
45,574		 Restricted
£
9,587
-
-
-
9,587
Unrestricted
£
16,348
3,478
4,723
1,709
26,258		 Total
2024
£
34,458
1,774
9,919
9,010
55,161
Total
2024
£
16,348
3,478
4,723
1,709
26,258		 Total
2023
£
23,928
3,763
9,813
8,400
45,904
Total
2023
£
13,293
2,112
3,175
1,150
19,730

The charity does not employ any staff or operate a payroll.

Page 17

Wotton Arts Project Notes to the Accounts

10 Tangible fixed assets

Cost or revaluation
At 1 April 2023
At 31 March 2024
Depreciation and
impairment
At 1 April 2023
Depreciation charge for the
year
At 31 March 2024
Net book values
At 31 March 2024
At 31 March 2023
11 Stocks
Raw materials and consumables
Carrying value analysed by activities
Events
12 Debtors
Trade debtors
Other debtors
Prepayments and accrued income
13 Creditors:
amounts falling due within one year
Trade creditors
Other creditors
Accruals		 Land and
buildings
£
21,540
21,540
9,036
1,077
10,113
11,427
12,504		 Plant &
Equipment
£
31,415
31,415
24,884
1,898
26,782
4,633
6,531
2024
£
1,615
1,615
2024
£
1,615
1,615
2024
£
128
2,079
4,272
6,479
2024
£
-
138
4,240
4,378		 Fixtures &
Fittings
£
10,681
10,681
8,500
503
9,003
1,678
2,181		 Total
£
63,636
63,636
42,420
3,478
45,898
17,738
21,216
2023
£
750
750
2023
£
750
750
2023
£
96
-
1,976
2,072
2023
£
984
138
2,939
4,061

Page 18

Wotton Arts Project Notes to the Accounts

14 Movement in funds

Restricted funds:
Restricted income funds:
Wotton Arts Festival
Off We Go
Why Not, Creative
workshops
Creative Cafe
Total
Unrestricted funds:
General funds
Total funds		 At 1 April
2023
5,362
744
9,163
-
15,269
69,815
85,084		 Incoming
resources
(including
other
gains/losses
)
£
-
-
-
382
382
61,453
61,835		 Resources
expended
£
(2,859)
(635)
(8,279)
(314)
(12,087)
(76,416)
(88,503)		 At 31
March
2024
£
2,503
109
884
68
3,564
54,852
58,416

Purposes and restrictions in relation to the funds:

Restricted funds: Wotton Arts Festival A long running event held in Wotton under Edge has been adopted by us after the previous committee retired. Funds held by the previous event committee were transferred to aid future operation and development of the event. Off We Go A collaboration with Prema Arts (Uley), Create Gloucestershire, Kingshill House (Dursley) and GL11 Dursley, funded by the NHS, to provide free, low-cost accessible workshops Why Not, Creative Funded by the Arts Council to encourage individuals to participate in new workshops to them artistic activities. Creative Cafe Funded by the Arts Council to encourage individuals to participate in new to them artistic activities.

15 Analysis of net assets between funds

Analysis of net assets between funds
Fixed assets
Net current assets		 Unrestricted
funds
£
17,738
40,716
58,454		 Restricted
funds
£
-
(38)
(38)		 Total
£
17,738
40,678
58,416

Page 19

Wotton Arts Project Notes to the Accounts

16 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2023
£		 Cash flows
£		 At 31
March
2024
£
65,107 (28,145) 36,962
65,107
65,107		 (28,145)
(28,145)		 36,962
36,962

17 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

Operating leases with expiry date:
Within one year
In the second to fifth years inclusive		 2024
Land and
buildings
£
9,000
9,000
18,000		 2024
Other
£
-
-
-		 2023
Land and
buildings
£
9,000
18,000
27,000		 2023
Other
£
-
-
-

18 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 20