Company Registration Number: 6417261 Charity Registration Number.. 1122092 The Leyburn Arts Centre Limited IA company limited by guarantee) Annual Report and Financial Statements For the Year Ended 30 April 2022
The Leyburn Arts Centre Limited Contents Reference and Administrative Details Trustees, Report 2to3 Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Actlvities Balance Sheet Notes to the Flnanclal Statements 8t014
The Leyburn Arts Centre Limited Reference and Administrative Details Chiel Executive Offlcer Ms Jeannie Elizabeth Bishop, Chairperson (appointed Feb 22) Trustees Ms Jeannie Elizabeth Bishop Mr Bertram Allen Harrison Mr David Alexander Poole Mr Anthonyjohn Smith (resigned Feb 22) Ms Anne Teresa Wood Prlnclpal Offlcè The Old School House Richmond Road Leyburn North Yorkshire DL8 5DL Registered Office Thornborough Hall Moor Road Leyburn North Yorkshlre DL8 5A8 Company Re8 No. 6417261 Charlty Reg No. 11220920 Independent Examlner Clarksons Thornborough Hall Moor Road Leyburn North Yorkshire DL8 SAB
The Leyburn Arts Centre Limited Trustees, Report The trustee5, who are direttors forthe purposes of company law. present the annual report together with the financial statements and independent examiner's report of the charitable company for the year ended 30 April 2022. Objectlves and activitles Public beneAIt The Charity Trustees durln8 the year to the 30 of April 2022 were the Dirertors of the Company namely: Ms J E Bishop Mr B A Harrison Mr DA Poole Mr A J Smith (resigned) MsATWood The charities objectives are to advance the public art provision in Wensleydale and the surroundlng area and to advance the public understandin8 of the arts through education and performance. During financial year 2021122 the Leyburn Art5 Centre was closed to the publlc perlodlcally In line with Central Government restrictions due to the Covid pandemic. Part of the building contlnued to be repurposed as the North Yorkshlre County Council. Community Support Organisation {CSO) Hub for the Leyburn and Distrlct area, staffed bv eight trained volunteers. As a result of providing the CS0 servlee to the Leyburn and District commLtnity the or8anisation was able to obtaln some benefit from various Local Government grants. Althou8h the CSO contlnued to function forthe whole of the financial year, the Leyburn Arts Centre Ltd was able to fulfil the majorlty of It5 charity obli8ations when central Government re5trittions allowed it to do so. The trustees confirm that during the entire financial year, strict financial controls were maintained and that all financial obli8ations were addressed.
The Trustees confirm that they have complied with the requirements of Section 4 ofthe Charities Act 2011 to have due regard to the public benefit guidance published by the Charltles Commission for England and Wales Structure. governance and management Financial instruments Objectives andpolicies The Charitvs activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charit¢s policies approved by the board of trustees which provide written principles on the use of financial derivatives to manage these risks. The chartty doe5 not use derivatlve financ131 instruments for Speculative purposes. Credlt rlsk The charity's principal financial assets are bank balances and cash, trade and other receivables. The charity's credit risk is primarily attributable to it5 trade receivables. The amounts presented in balance sheet are net of allowances for doubtful receivables. An allowance for Impairment Is made where there is an identifiable loss event which, based on previous experience, Is evidence of a reductlon In the recoverablllty of the cashflows. The credlt rlsk on Ilquld funds and derlvatlve flnanclal Instruments Is Ilmited because the counterparties are banks with high credit-ratin8s assigned by international credit-ratin8 agencies. The charity has no significant concentration of credit risk. with exposure spread over a large number of counterparties and customers. Reserves Pollcy As at 30 Aprll 2022 the charltable company's reserves of £76,751 were unrestrlcted. The trustees periodically review the level of reserves. The review takes into account income and expenditure streams. The trustees, objective is to build up reserves to ensure that sufficient funds are available for ongoing operations and future developments. The annual report was approved by the trustees of the charity on 16 January 2023 and Signed on its behalf by: Ms Jeannie Elizabeth Bishop Chief Executive Officer and Trustee
The Leybum Arts Centre Limited Statement of Trustees, Responslbllities The trustees {who are also the directors of The Leyburn Arts Centre Limited for the purposes of Company lawl are responsible for preparin8 the trustee5' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare flnanclal statements for each flnanclal year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incomin8 resources and application of resources, includin8 its income and expenditure, for that period. In preparing these financial statements, the trustees are required to.. Select suitable accounting policies and apply them consistently; Observe the methods and principles in the Charities SORP,. Make judgements and estimates that are reasonable and prudent- State whether applicable UK Accountln8 Standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keepin8 adequate accountin8 records that are sufficient to show and explain the charitable companrfs transactions and distlose 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 Att 2006. They are also responslble for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitles. Approved by the trustees of the charity on 16 January 2023 and signed on Its behalf bv: Ms Jeannie Elizabeth Bishop Chief Executive Officer and Trustee
The Leybum Arts Centre Limited Independent Examinerfs Report to the trustees of The Leyburn Arts Centre Limited I report to the charity trustee5 On my examination of the accounts of the charity for the year ended 30 April 2022 which are set out on pa8es 6 to 14. Respectlve responslbllltles of trustees and examlner As the charity's trustees of The Leybum Arts Centre Limited land also iys directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance wrth the requirements of the Companies Act 2(l61'the 21x16 ACVI. Having satisfied myself that the accounts of The Leybum Arts cent limited are not required to be audited under Part 16 of the 26 Act and are eligible for independent examination, I report in respect of my examination of your charitvs accounts as carried out under seciion 145 of the Charities Act 20111'the 2011 Act'l. In carrying Out my examination I have followed the Dirertions given by the Charlty Commlsslon under section 14515llbl of the 2011 Act. Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to my attention in connectlon with the examination 8ivin8 me cause to believe: l. Accounting records were not kept in respect of Leybum Arts Centre Limited as required by section 386 of the 2006 Act. or 2. The accounts do not accord with those records,. or 3. The accounts do not comply wilh the accountin8 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 4. The accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Prartice for accounting and reporting by charities (applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examlnatlon to whlch attention should be drawn in this report in order to enable a proper understandin8 of the accounts to be reached. 16 January 2023 Clarksons Thornborough Hall. Leyburn North Yorkshire, DL8 SAB
Leyburn Arts Centre LlmEted Stat•ment of Flnancial Actiwties for the Year Ended 30 April 2022 (Includlng Income and Expendltyre Account and Ststement of T(rtal Re(ognlsed Galns and Losses) Unrestrirted Restrfrted fvnds fund5 T4)ts1 2022 Note Income and Endowments from: Donations Grants and Le8acies Charitable Activities Investment Income 26,127 45.917 4,658 30,785 45,917 Total Income 72,047 4.658 76,705 Expendlture on: Raisin8 funds Charitable Actlvltles 26,064 23.950 1.414 3,244 27,478 27,194 Total Expendbture 50,014 4,658 54,672 Net Iexpendlturelfit0Mt Net movement in funds 22,033 22,033 22,033 22.033 Re¢ondllatlon of funds Total fund5 brought forward 54.539 54,539 Total funds carrled torward 13 76,571 Unrestrlcted funds 76,571 Total 2021 Restrlrted fvnds Note Income and Endowments from: Donations Grants aftd Legacits Charltable Activities Investment Income 43,710 13,374 12 2.922 46,632 13,374 12 Total Income $7.095 2.922 60,017 Expendtture on: Ralslng fund5 Charitable Activlties 17,044 23,077 1,737 1.185 18.782 24,262 Total Expenditure 40,122 2.922 43,044 Net leKpendlturel/income Net movement in fund5 16,974 16,974 16,974 16.974 R¢¢onclllatlon of funds Total fund5 brought forward 37.565 37.565 Total funds carried forward 54.539 54,539 All of the charity's attSvities derive from contlnuing operdtions during thè above two periods. The ftjnds breakdown for 2022 is shown in note 16.
Leyburn Arts Centre Llmited {Registration Number 06417261) Balance Sheet as at 30 Aprll 2022 2022 2021 Note Fixed Assets T3nEible assets li 5.375 7,262 Current assets Stocks Debtors Cash at bank and in hand 12 13 550 1.832 85,477 87,858 -6,077 81,782 87,157 .10,S85 76.571 550 1,138 64,263 65,951 -7,487 58,464 65,727 -11,188 54,539 Creditors: Amounts fallin8 due wfthln one year Net current assets Iliabllltlesl Total assets less current liabllltles Credhors: Amounts falling due after more than one year Net assets 14 15 Funds of the charlty: Restrlcted funds Unrestricted funds Total funds 76.571 76,571 54,539 54,539 16 For the financial year ending 30 Aprll 2022 the charlty was entitled to exemptlon from audlt under section 477 of the Companles Act 2006 relatin8 to small companies. Directors, responslbilities The members have not required the charity to obtaln an audit of its accounts for the the year in question in accordance with section 476- and The directors acknowledge their responsibilities for complying wlth the requlrements of the Aci with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordants with the provisions applicable to companies subject to the Small tompanies re8ime. The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 16 January 2023 and signed on their behalf bv: Ms Jeannie Elizabeth Bishop Chief Executive Officer and Trustee
LÈybum Arts Centre Llmlted Notes to the Flnanclal Statements for the Year Ended 30 Aprll 2022 I Charity status The charity is limited by 8Uafafttee, incofporated in England. and consequently doe5 not have share Capital. Each of the trustees is liable to contribute an amount not eK¢eeding ÉNil towards the assets of the charity in the event of liquidaiion. The address of the re8iStered office is.. Thornborough Hall Moor Road Leyburn North Yorkshlre DL8 SAB The principal place of business is.. The Old khool House Aichmond Road Leyburn North Yorkshlre DL8 SDL These flnanclal statements were auior15ed for t55ue by the trustees on 16 January 2023 2 AccountlnB polkles Summary of sl¥nlflcant accountlng pollcles and key a¢¢ountln8 estlmates The prln¢lpal a¢¢ountln8 polldes applled In the preparation of these fin¥ndal statements are set out below. These pollcies have been consisiently applled to all ihe years presented. unle55 otherwlse stated. Stat•ment of complSan¢• The Ilnancial statements have been Prepared In a¢¢ordance wlth Attountln8 and Reportlng by Charltles'.Staternent of Recommended Practice applicable to charitie5 preparin8 their accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS1021 leffectbve I january 20151 Icharities SORP IFR510211, the Financial Reporting Standard applicable in the UK and Republic tsl Ireland IFRS1021. They also comply with the Companies Act 2006 and Charltles Act 2011. Basls of preparatlon Leyburn Arts Centre Limited meets the definition of a public benefit entity under FR5102. Assets and liabilitiès are initially recognised at historical cost or transaction value unless Otherwise staled In the relevant accountln8 policy notes. Goln8 concem The trusrees consider that there are no material uncertainties about the charity's ability to continue as a going concern rtoi any significant areas of uncertainty that affect the carrying value of asset5 held by the charitv. Exemption from preparinB a cash flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have Iherefore not included a cash flow statement in these financial statements. Income and ehdowments All income Is recognised once the chaTiry ha5 entitlement to the income. It Is probable that the income wi11 be received and the amount of the income receivable can be measured reliab.
Lern Arts Centre Limiled Notes toth• Flnantlal Statements lor the Year EIed 30 Aprfl 2022 Donatlons and legades Donations are reco8nised when the ¢harty has been noufied In wrftln8of LyJth Ihe amount and settiernent date. In the event that a donatw)n 15 subknt to condrtion5 that reouire a level of performance by the charty before the charity 15 entitled to the funds, the Income is deferred and not recognised until eitherthose condition5 are fully met. or the fumlment of thos condittons Is wholly within the control of the challty and R Is probaNethatthese conditw)ns will fulfilled n the rewrting perK)d. Grants receivable Granrs are recogn15ed when the charfty has an entitlement to the funds and anyconditions Ilnked to the grants have been rnet. Whete performance condttlons are ottsched to the 8rant and ar eyet to be met, the incornè Is t01n1d as a Il•blltyand Included on the b4l•nce She 45 deferred Income t¢ be released. EJtPondltur• All expendkure Is recognlsèd once thert is a be8al Orconstructe obllgatton to that expenditure. Yt is probable settlement is QUIred and the amount can be measured reliab. All costs arè allocated to the app15cable expenditure heading that a88re8ate slmitsr costs to that category. Where costs cannot be dlrertly att¥ibuted to particular headings thay have teen allocated on basis conslstent wlth thè use of resources. wtth Central stsff costs alkated on the ba$15 01 tlme spent, and depreciation tharges allocated on the p)rtbTh of the as3et'$ use. Other suprort are allocated based on the spread of stsff costs. R•bln8 fvnds These are costs incurred In attractln8voluntsry Incomt, the managemertt of Irwestments and those in¢urred In tr•dln8 actlvttles thèt ral3e lufids. Support costs Support costs in¢lude centril funrtbns and have teen 4lbuted to octlvlty cost cate8orfe5 on a basls consI5tent wh the use of res•Jrtes. for ethrnpk. alkxat5ng propetyc95ts byflfy)r areas or pèrcapita, staff costs by tht tlme $pent and other tosts by théir UBe. Go¥ern•n¢• ¢<)sts These Snclude the costs attdbut•ble to the charlty's compllance constttutknial and statutory requlrements. lThcludln¥ adit, strate£it rnana8emtnt and tnistte's meetln85 and MTr expenses. Government grants Govtsrnrnent grants art reco8nLsed based on the acuual mtxlel and are rneasurod at the falrvalu• of rhe asset recelved or recelvable. fjrants are dassif*d as lalIn6 eltherto revenue orto assets. Gronts relatlng to revenue are recognised In Income overthe period In which the lated costs ¥r• recognised. Grants relatin8 to assets are rvoenised over the expetted useful life of the asset. Where part of 4 grant relatln8 to an asset b deferred. It recognised a5 deferred income.
Leybum Arts Centre Limited Notes to the Financial Statements for the Year Ended 30 Aprfl 2022 Taxatlon The charity 15 considered to PaSS the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt frpm taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Tèxation of Chargeable Gains Act 1992. to the extent that such income or galns are applied exclusively to charitable purposes. Tanglble Flxed Assets Individual Fixed Assets tostlng £100.00 or more are initially recorded at Cost. less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and Amortisation Depreclation Is provided on tangible fixed assets so as to wrlte off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Trade debtors Trade debtors are amounts due from customers for merchandlse sold or services performed in the ordinary course of business. Trade debtors are recognised inltlally at the transaction price. They are subsequently measured at amortlsed cost uslng the effectlve interest method, less provision for imairment. A provision for the impairment of trade debtors is established when there 15 objective evidence that the charity will not be able to collect all amounts due accordin8 to the ori8inal terms of the receivables. Cash and cash equlv•lents Cash and cash equivalents comprise cash on hand and call dep051ts, and other short term highly liquid inbestment5 that are readily convertible to a known amount of cash and are subject to an Snsi8nifi¢ant risk of ¢han8e in value. Trade credltors Trade creditors are obligations to pay fof goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabllltles if the charity does not have an unconditional right , at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reportin8 date. If there Is an unconditlonal right to defer settlement for at least twefve months after the reporting date, they a presented as non-current liabilltles. Trade creditors are recognised initially at the transaction price and subsequently measured at amortisèd cost using the effective interest method. Fund strurture Ursrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity- Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. io
Leybum Arts Centre Limlted Plotes to the Financial Statements for the Year Ended 30 April 2022 3 Income from donations and legacies Unrestricted funds Restricted funds Total 2022 Total 2021 Donation5 and le8acies,' Regular giving and capital donations Gifts aid reclaimed Grants, including capital grants; Grants from other charities Grants from Local Authorltles 2.127 2,127 2,041 1,288 3.370 4,658 1,288 27.370 30,785 2,922 41,669 46,632 24.LKQ 26.127 4 Income from charltable actlvltles Unrestrfrted funds Re5trlcted funds Totsl 2022 Total 2021 Charitable activities 45,917 45,917 13,374 5 Investment Income Unre5trfded fvnds Restrlrted funds Total 2022 Total 2021 Interest receivable 12 li
Leyburn Arts Centre limited Note5 to the Financlal Statements for the Yeir Ended 30 Aprll 2022 7 Expendlture on ralsln8 funds Unrestrirted funds Restrirted funds Total 2022 Total 2021 Cost of Raising Funds 26,064 26,064 1,414 1,414 27,478 27,478 18,782 18,782 8 Expendlture on charltable artkTitles Unrestrirted fvnds Restrlrted funds Total 2022 Total 2021 Governance costs 23,950 3,244 27,194 24,262 £23,95012021- £23,077) of the obove expendlture wos ottrlbutoble to unrestrictedfvnds and £3.244 (2021- £1,185) to restrirtedfvnd5. 9 Anal1$ of governance and support costs Unrestrkted funds Restricted funds Totsl 2022 Total 2021 Audit fees Legal fees Marketing and publicity Other 8overnan¢e costs 1.230 13 1,248 21,459 23.950 1,230 13 1,248 24,704 27.194 1,344 13 572 22,333 24,262 3,244 3,244 10 Taxation The charity is a re8iStered charity and is therefore exempt from tsxation 12
Leyburn Arts Centre Llmlted Notes to the Finantial Statements for the Year Ernded 30 April 2022 11 Tan8lble Flxed Assets land and buildin8$ Furnlture and equipment Total Cost Al l May 2021 Additions Dlsposals At 30 April 2022 53.031 34.244 $64 87.275 564 S3.031 87,839 Depreclatlon At l May2021 Charge for the year Disposals At 30 Aprll 2022 51,469 28.544 1,450 80.013 2,451 S2,470 29,994 82,464 Net book ¥alu¢ At 30 April 2022 At l May 2021 561 4,814 5,7rxi 5,375 7,262 1,562 12 Sto¢ks Total 2022 Totsl 2021 Stocks 550 550 13 Debtor5 Totsl 2022 Total 2021 Trade debtors Other debtors 268 1,564 1,832 1,138 1.138 14 Credltors: amounts fallSng due wfthln one year Total 2022 Total 2021 Trade creditors Other taxatlon and soclal se¢urlty Other creditors 2,202 2.406 22 5,059 7.487 3.882 6,077 15 Credttor5: amount5 fallln8 due after more than one year Total 2022 Total 2021 Deferred income 10.585 10,585 11.188 ii, 13
Leyburn Arts Centre Limlted Notes to the Flnancial Statements for the Year Ended 30 Aprll 2022 16 Funds Balan at 01-May-21 Incoming Resources Resources expended Balance at 30-Apr-22 Unrestricted funds Restrirted funds Total funds $4.539 72,047 4,658 76.705 -50,014 -4,658 -54.672 76,571 54,539 76.571 Balance at 01-May-20 Incomlng Resources Resources expended Balante at 3APr-2I Unrestrlcted funds Restricted funds Total funds 37,565 57,095 2,922 60,017 -40,122 -2,922 43,044 54,539 37,56S 54,539 17 Analysls of net assets b¢een funds Unrestrlrted Funds General Total fund$ Tan8ible flxed assets Current assets Current liabillties 5,375 87,858 ,077 87,157 5,375 87,858 -6,077 87,157 18 Analysis of net lunds At l May 2021 Cash flow At 30 Aprll 2022 Cash at bank and in hand Net debt 64,263 64,263 21.213 21,213 85.477 85,477 14