Company Reglstrat5on Number: 6417261 Charlty Registration Number: 1122092 The Leyburn Arts Centre Limited (A company Ilmlted by guarantee Annual Report and Flnanclal Ststements For the Year Ended 30 Aprll 2024
The Leybum Arts Centre Limited Contents Reference and Administrative Detalls Trustees, Report 2to3 Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t014 Detailed Statement of Finanaal Activities 15to16
The Leyburn Arts Centre Llmlted Reference and Administrative Details Chlef Executlve Offlcer Ms Jeannle Elizabeth Bishop, Chalrperson Trustees Ms Jeannle Ellzabeth Bishop Mr Bertram Allen Harrison Mr Davld Alexander Poole Ms Anne Teresa Wood Mrs Joan Danvers Ms Gilllan Mltchell Mrjullan Plnche5 Prlndpal Offlce The Old School House Rlchmond Road Leyburn North Yorkshlre DL8 5DL Re8lstered Offlce Thornborough Hall Moor Road Leybum North Yorkshlre DL8 SAB Company Re8 No. 6417261 Charlty Reg No. 11220920 Independent Examlner Clarksons Thornborough Hall Moor Road Leyburn North Yorkshlre DL8 SAB
The Leyburn Arts Centre Llmlted Trustees, Report The trustees, who are directors forthe purposes of company law, present the annual report together with the financial statements and independent examinerfs report of the charitable company for the year ended 30 April 2024. Objectlves and actlvftles Publlc beneflt The Charity Trustees durlng the year to the 30 April 2024 were the Directors of the Company namely: Mrs J E Bishop Mrs J Danvers Mr B A Harrison Mrs G C Mltchell Mr J P Plnches Mr D A Poole Mrs A Twood The charltles objectives are to advance the public arts provision in Wensleydale and the surroundlng area and to advance the public understanding of the arts through educatlon and performance. During the financial year 2023124 and having fully emerged from the Covld pandemicThe Leyburn Arts Centre Ltd has resumed its posltlon as the Arts and Communlty Centre (hereafter referred to as the Centre) for the Leyburn and District area. The plannln8 phase for the addition of a Community Shed to the facllitles being provided by the Centre was completed with the intention of the building being open for use In January 2025. The addltlon of the Community Shed will allow the Centre to provlde additlonal art and craft facilities plus workshops to the whole local community. The Trustees confimi that durlng the entire financial year, strict financial control was maintained and that all the financial obligations were addressed. The Trustees confirm that they have complied with the requirements of Section 4 of the Charities Act 2011 to have due regard to the public benefit guldance published bythe Charities Commlssion for England and Wales.
Structure• governance, and management Flnancial Instruments Objertives ondpollaes The Charitvs activities expose it to a number of financlal risks including credit risk. cash flow risk and liquidity risk. The use of financial derlvatives is governed by the charitvs policies approved by the board of trustees which provide written principles on the use of financial derivatlves to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Credlt rfsk The charity's principal financial assets are bank balances and cash. trade and other receivables. The charlS credit risk is primarily attrlbutable to Its 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 reduction in the recoverability of the cashflows. The credit risk on Ilquid funds and derivative financlal instruments is limited because the counterparties are banks with high credit-ratin8s asslgned by Internatlonal credit-rating agencies. The charity has no slgnificant concentration of credlt rlsk, wlth exposure spread over a large number of counterparties and customers. ReseThes Pollcy In accordance wlth the Charity Commission guidelines the trustees have considered the reserve needs of the charity. At 30 April 2024 the charitable company's reserves were £114,438 of which £70,520 were restricted and £43,918 were unrestrlcted. The trustees have reviewed the level of reserves. The review takes into account income and expenditure streams. The trustees, objettive 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 18 January 2025 and signed on its behalf by: Ms Jeannie Elizabeth Bishop Chlef Executive Officer and Trustee
The Leyburn Arts Centre Limited Statement of Trustee< Responsibilities The trustees (who are also the directors of The Leyburn Arts Centre Llmited for the purposes of company law) are responsible for preparin8 the trustees, report and the financial statements In accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare flnanclal statements for each financial year. Under company law the trustees must not approve the financlal statements unless they are Satisfied that they give a true and fair view of the state of affalrs of the charitable company and of its incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financial statement5, the trustees are required to: Select Suitable accountlng pollcles and apply them conslstently; Observe the methods and principles in the Charities SORP; Make Judgements and estimates that are reasonable and prudent: State whether applicable UK Accounting 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 charltable company will continue in business. The trustees are responsible for keepin8 adequate accountlng records that are sufflclent to show and explain the charitable companvs transactlons and dlsclose with reasonable accuracy at any time the financlal posltlon of the charltable company and enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the preventlon and detectlon of fraud and other irregularities. Approved by the trustees of the charity on 18 January 2025 and signed on Its behalf by: Ms Jeannle Elizabeth Bishop Chlef Executive Officer and Trustee
The Leyburn Arts Centre Limited Independent Examinerfs Report to the trustees of The Leybum Arts Centre Limited I report to the charity trustees on my examlnation of the accounts of the charity for the year ended 30 April 2024 which are set out on pages 6 to 14. Respertfve responslbllltles of trustees and examlner As the charitvs trustees of The Leyburn Arts Centre Llmited (and also IYS dlrectors for the purposes of company law) you are responslble for the preparatlon of the accounts in accordance wlth the requlrements of the Companles Act 2006 ('the 2006 ACV). Havln8 satlsfled myself that the accounts of The Leybum Arts Centre Llmlted are not requ5red to be audlted under Part 16 of the 2006 Act and are ellglble for independent examlnation, I report In respect of my examlnatlon of your charit$ accounts as carried out under sectlon 145 of the Charltles Act 20111'the 2011 ACV). In carrylng out my examlnatlon I have followed the Dlrectlons glven by the Charlty Commission under sectlon 14515)(b) of the 2011 Act. Independent examlnerfs ststement I have completed my examinatlon. I conflrm that no matters have come to my attentlon In connectlon wlth the examlnation 8lvlng me cause to belleve: l. Accountlng records were not kept In respert of Leybum Arts Centre Umlted as requlred by sectlon 386 of the 2006 Act,. or 2. The accounts do rt accord wlth those records; or 3. The accounts do not comply wlth the accounting requirements of sectlon 396 of the 2006 Act other than ary quIrernent that the accounts glve a 't and frdir vlev/ whlch Is not matter considered as part of an independent examinatlon: or 4. The accounts have not been prepared in accordance with the methods and prlnclples of the Statement of Recommended Practlce for accountlng and reportin8 by charities (appllcable to charities preparing thelr accounts in accordance with the Flnanclal Reportln8 Stsndard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connectlon wlth the examlnatlon to whlch attention should be drawn In this report in order to enable a proper understandln8 of the accounts to be reached. 18 January 2025 Dawn Clarkson Thornborough Hall, Leyburn North Yorkshlre, DL8 SAB
Statemert of Hnanthl Acll¥lUts for the Year Ended 30 Aprfl 2024 (Ind8 Income and Expendkn Accourt and Statemwrt ofTotal Rewtsed Total 2024 IM>ffle and Endowments from: Donations Grants and Le8acies Charitable Activities Investment Income 15,171 58.633 423 ,041 28,212 58.633 423 Total Income 74,227 13.041 87.268 ExndItyre on: Ralsin8 funds Charltsble Actlvltles 34.353 IL977 6.579 46,330 35,080 Total Expendlture 62,853 18,557 81,410 Net (expendlturel/lncome Desl8nated Capltal Funds Net movement In funds 11,374 -76,036 4,662 -5516 76.036 70.520 5,858 Reton¢lll•iion of funds Total funds brou8ht forward 108380 108,580 Total funds carrled forward 43.918 70,520 114,438 Total 2023 nds nds IOffie and End0wrne froftK' Donatlons Grants and Legacles Charltable Actlvltles Investment Income 31,627 6.719 38,346 56A86 77 Total Income 88.190 6,719 E¥pendlture on: Ralslng funds Charltsble Artivltles 29.377 26,805 33,417 29,484 2.679 Total Expendlture 56,182 6,719 62,901 Net lexpendltureifincome Net movement In fund5 32,008 32,lJ)8 32,008 32.(108 Re¢ondllallon of lund5 Total funds brought forward 76.5n 76.572 Total funds carrled forward 108,580 108.580 All of the charlt¢s activlties derive from contlnulng operations durlng the abovetwo perlods. The funds breakdown for 2024 is shown In note 16.
The Leyburn Arts Centre Llmlted (Reglstratlon Number 06417261) Balance Sheet as at 30 Aprll 2024 2024 2023 Note Flxed Assets Tangible assets 11 69,331 17,012 Current assets Stocks Debtors Cash at bank and in hand 12 13 550 1,591 148,199 150.341 -2,737 147.604 216,936 -102,497 114,438 550 4,063 131.671 136,284 -5.533 130,751 147,763 -39,183 108,580 Credltors: Amounts falllng due withln one year Net current assets {liablllties) Total assets less current Ilabllltles Creditors: Amounts falllng due after more than one year Net assets 14 15 Funds of the charlty: Restricted funds Unrestricted funds Total funds 70,520 43,918 114,438 108,580 108,580 16 For the financial year ending 30 April 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities The members have not required the charity to obtain an audit of Its accounts for the the year In question in accordance with section 476,. and The directors acknowledge their responslbTlltles for complying wlth the requirements of the Act with respect to accountlng record5 and the preparation of accounts. These accounts have been prepared In accordance with the provlslons applicable to companles subjett to the small companles regime. The fjnanaal statements on pages 6 to 14 were approved by the tnistees, and authorised for issue on 18 January 2025 and slgned on their behalf by: Ms Jeannie Elizabeth Bishop Chief Executive Officer and Trustee
The Leybum Arts Centre Limited Notes to the Ananclal Statements for the Year Ended 30 Aprll 2024 I Charlty status The charlty Is Ilmited by guarantee. Incorporated in England. and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exedIng £NII towards the assets of the charity in the event of liquidation. The address of the registered office Is: Thornborough Hall Moor Road Leyburn North Yorkshlre DL8 SAB The prlndpal place of buslness Is: The Old School House Richmond Road Leyburn North Yorkshlre DL8 5DL These financlal statements were autorlsed for tssue by the trustees on 18 January 2025. 2 Accountlng poKdes Summary of $18nlfi¢ant accountlng pollcles and key accountlng estlmates The prlnclpal accountlng policies applled In the pparatIOn of these financlal statements are set out below. These policies have been conslstently applied to all the years presented, unless otherwlse stated. Statement of compllance The financlal statements have been prepared in accordance with Accounting and Reportln8 by Charltles:Statement of Recommended Practi applicable to charities preparing thelr accounts in accordance wlth the Flnanual Reporting Standard applicable in the UK and Republlc of Ireland IFRS1021 {effectJve l January 20151- (Charitles SORP IFRS102)), the Flnandal Reporting Stsndard appllcable In the UK and Republlc of Ireland {FRS102). They also comply wlth the Companies Act 2006 and Charftles Art 2011. Ba4$ of preparatlon Leyburn Arts Centre Llmfted meets the definltlon of a public beneflt entity under FRS102. Assets and liabilitles are Initially recognlsed at historical cost or transartion value unless otherwise stated In the relevant accountlng policy notes. Golng concern The trustees conslder that there are no materlal uncertainties about the charlty's ablllty to contlnue as a going concern nor any significant areas of uncertainty that affect the carrylng value of assets held by the charity. Exemptlon from preparlng a cash Ilow statement The charfty Opted to early adopt Bulletln I published on 2 February 2016 and have therefore not included a cash flow ststement In these financlal statements. Income and endowments All income Is reco8nised once the charity has entitlement to the Income, It Is probable that the income will be recelved and the amount of the income recelvable can be measured reliablv.
Notes to the Ftnandal Statanents for the Year Ended 30 Aprfl 2024 Donatlons and le8ades Donations are recognised when the tharity has been notlfied In wrftin8 of both the amount and settlement date. In the event that a donatlon is sublert to condltions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those condltions are fulfy met, or the fvlfilment of thos condltions Is wholty within the control of the charity and tt is probable that these conditions wlll be fulfilled in the reporting perlod. Grants recefvable Grants are recognised when the tharity has an entitlernent to the funds and any conditlons Ilnked to the grants have been meL Where performance conditions are attached to the Brant and ar eyet to be meL the Income is recognised as a lialIty and induded on the balan sheet as deferred income to be released. Expendlture All expendfture is recognlsed once there is a le8al or construrtive obligation to that expendItu. it is probable settlement is required and the arnount can be measured rellably. All costs are allocated to the applicable expenditure heading that aggregate Similar costs to that category. Where costs cannot be directy attrlbuted to particular headings thay have been allocated on a basis consistent with the use of resources. with central staff costs allocated on the basls of tlme spent. and depredatlon charges allocated on the portion of the assevs use. Other 5UPPOrt costs are allocated based on the spread of staff costs. Ralslng funds These are costs Incurred in attractlng voluntsry Income. the management of investments and those Incurred in trading actmties that false funds. Support costs Support costs Indude central funrtlons and have been allocated to activity cost categories on basis conslstent wlth the use of resour. for example, allocating property costs by floor areas or per capita, staff costs by the tsme spent and other costs by thelr usage. Govemance These indude the costs attributable to the tharity's complIan with constitutional and statutory requlrements, Includln8 audlt. strategic rnanagement and trustee's meetings and reimbursed expens& Govemment 8rants Government Brants are recognised based on the accrual model and are measured at the fair value of the asset recefved or receiyable. Grants are dasslfied as felatin8 either to revenue or to assets. Grants relating to revenue are reco8ntsed in income over the period in which the related costs a recognised. Grants relating to assets a reco8nised over the expected useful life of the asset. Where part of a 8rant relatlng to an asset Is deferred. It b re¢o8nlsed as deferred Income. Related Partles There were no related party transactlons Trustees Expenses There were no trustees expense5
The Leyburn Arts Centre Llmlted Notes to the Financial Ststements for the Year Ended 30 Aprll 2024 Taxatlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definltion of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt frpm tsxation 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 Taxation of Chargeable Gains Act 1992, to the extent that such income or galns a applied excluslvely to charitable purposes. Tanglble Flxed Assets Individual Flxed Assets costlng £100.00 or more are Inltlally recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclation and Amortisation Depreciation is provided on tan8ible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Buildings 25% straight line Fumiture and fittinBS 25% reduclng balance Plant and machinery 25% straight line Trade debtors Trade debtors are amounts due from customers for merchandise sold or serViS performed in the ordinary course of business. Trade debtors are recognlsed Inltially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. less provision for imaimient. A provision for the impalrment of trade debtors is established when there is objective evldence that the charity will not be able to collect all amounts due according to the orlglnal terms of the receivables. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits. and other short term highly liquid inbestments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or servlces that have been acquired in the ordinary course of business from suppllers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the credltor for at least twelve months after the reporting date. If there is an unconditional rlght to defer settlement for at least twelve months after the reportln8 date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost uslng the effective interest method. Fund structure Unrestricted Income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity. Restritted Income funds are those donated for use in a partlcular area or for specific purposes. the use of which Is restricted to that area or purpose. 10
The Leyburn Arts Centre Llmlted Notes to the Financial Statements for the Year Ended 30 Aprll 2024 3 Income from donations and legacles Unrestrfcted funds Restrfcted funds Totsi 2024 Total 2023 Donations and legacies; Regular giving and capital donatlons Gifts aid reclaimed Grants, including capital grants; Grants from other charities Grants from Local Authorities 2.156 2,156 7,627 12,015 1,000 15,171 5,741 7,300 13.041 17,756 8,300 28,212 6,719 24,000 38,346 4 Income from charftable actlvltles Unrestrfcted funds Restrlrted funds Total 2024 Total 2023 Charitsble actlvities 58,633 58,633 56,486 5 Investment Income Unrestrfrted funds Restrfcted funds Total 2024 Totsi 2023 Interest receivable 423 423 77 11
Notes to the Fonanclal State•Tients for the Year Ended 30 Aprfl 2024 7 Expendlture on ralslng funds Total 2024 Total 2023 funds funds Cost of Raising Funds 34,353 34,353 11,977 11,977 46,330 46.330 33.417 33,417 8 Expendlture on tharltable actfvtt Total 2024 Totsl 2023 funds Govemance costs . 28,500 6,579 35,080 29,484 £29,514 (2023- £26.805) of the above expendfture was attributoble to unrestrfctedfvnds and £4,590(2023 - £2.679) to restrirtedfvnds. 9 Analysis of governance and support costs Total 2024 Totsl 2023 funds funds Audit fees Legal fees Marketing and publicity Other governan costs 2,377 2,377 13 3.551 29,138 35.080 1,531 3.551 22.559 28.5(X) 2,292 25,661 29.484 6.579 6.579 10 Taxatlon The charity is a registered charity and Is therefore exempt from taxation 12
The Leyburn Arts Centre Umlted Notes to the Flnanclal Statements for the Year Ended 30 Aprll 2024 11 TanBlble Flxed Assets Land and bulldlngs Furnlture and equlpment Total At l May 2023 Additions Dlsposals At 30 April 2024 69.727 64,384 34,867 940 104,594 65,324 134,111 35,807 169,918 Depredatlon At l May 2023 Charge forthe year DSsposals At 30 April 2024 56,430 11.955 31.151 1,050 87,582 .004 68,385 32.201 100,586 Net book value At 30 April 2024 At l May 2023 65,726 13,297 3,606 3,716 69,331 17.012 12 Stocks Total 2024 Total 2023 Stocks 550 13 Debtors Totsl 2024 Total 2023 Trade debtors Other debtors 250 1,341 1,591 2.491 1,572 4,063 14 Credltofs: amounts frdllln8 due wfthln one year Total 2024 T¢)tsl 2023 Trade credltors Other taxatlon and sodal securlty Other credltors 593 74 2.070 2,737 816 25 4,693 5,533 15 Credltors: amounts falllng due after more than one year Total 2024 Total 2023 Deferred incorne 102,497 102,497 39,183 39,183 13
The Leyburn Arts Centre Umfted Notss to the Ananclal Statements for the Year Ended 30 Aprll 2024 16 Funds Balance at 01-May-23 Incomlng Resources Resources expended Transfws Balance at 3APr-24 Unrestricted funds Restricted funds Total funds 108.580 74.227 13,041 87,268 42,853 -18,557 -81,410 -76,036 76,036 43,918 70,520 114,438 108.580 Balan at 01-May-22 Incomlng Resources Transfers Balance at 30-Apr-23 expended Unrestricted funds Restricted funds Total funds 76.572 88,190 6.719 94,909 -56,182 -6,719 2,901 108.580 76,572 108,580 17 Analysls of net assets between funds Unrestrlcted Funds General Restrfrted Funds Total funds Tangible fixed assets Current assets Current liabilities 2.712 94,800 -2,737 94,775 66,619 55,541 69.331 150,341 -2,737 216,936 122,160 18 Analysls of net funds At l May 2023 Cash flow At 30 Aprll 2024 Cash at bank and in hand Net debt 131,671 131,671 16.528 16.528 148.199 148,199 14
The Leyburn Arts Centre Ilmited Detalkd Statement of Flnanclal Activities for the Year Ended 30 Aprll 2024 Unrestrlcted funds Restrlcted funds 2024 Totsi 2023 Totsl Income and endowments from: Donations and legacies Charitable activltles Investment income Totsl income 15,171 58,633 423 74.227 13,041 28,212 58,633 423 87,268 38,346 56,486 77 94,909 13,041 Expendlture on: Ralsln8 funds Charltable actlvitles Total expendltutre 34,353 28,500 62,853 11,977 6,579 18,557 46.330 35,080 81,410 33,417 29,484 62,901 Net expendlture/lncome 11,374 -5,516 5,858 32,008 Net movement In funds Deslgnated Funds Communlty shed Reconclllatlon of funds Totsi funds brought forward Totsl funds carried forward 11,374 -65670 -5,516 65670 5,858 32,008 108,580 54.284 108,580 114,438 76,572 108,580 60,154 Unrestrlrted funds Restrlrted funds 2024 Total 2023 Total Donatlons and leoacles Donations Grants from other charltles Grants from Local Authorltles Glft Ald reclalm 2,156 12,015 I,o(x) 2,156 17,756 8,300 7,627 6,719 24,000 5,741 7,300 15,171 13,041 28,212 38,346 Vnrestrlcted funds Restrlcted funds 2024 Total 2023 Totsl Charltable actlvltles Charltable actlvltles 58,633 58,633 58,633 58,633 56.486 56.486 15
The Leyburn Arts Centre Limited Detailed Statement of Flnancial Actlvitles for the Year Ended 30 Aprll 2024 Income continued Unrestrlrted funds Restricted funds 2024 Total 2023 Total Investment inrne Interest CeiVable 423 423 423 423 77 77 Ex ndlture Unrestricted funds Restrfcted funds 2024 Total 2023 Total Ralsing funds Purchases Wa8es and salaries Penslon scheme (Defined contribution) Computer software and maintenan Depreciation 17,528 15,107 541 150 1,027 34,353 17.528 15,107 541 150 13,005 46,330 16.059 11.440 370 430 5.118 33,417 11,977 11,977 Unrestrlcted funds Restrfcted funds 2024 T¢)tsi 2023 Total Charitable actlvltles Rent Light and heat Rates and water Insurance Repairs and maintenan Telephone and internet Donations Cleaning Printing, postage and ststionery Software Licenses Attivity Costs Advertising Legal fees Independent examiner fees Bank charges 11,500 2,907 496 633 1,960 774 11.500 3,907 496 633 1,974 774 348 2,008 450 420 927 5,565 3,551 13 2,377 136 35,080 11500 3495 951 552 2548 818 1,000 14 2,008 450 420 927 1011 370 433 1303 2679 2292 5,565 3.551 13 2,377 136 28.500 1531 6.579 29484 16