Cryany tEgistraiion nuMPr.. 06335746 Charity regJstsatkOD nwthr. 1131899 Hoddesdon (Community) Society of Perforn]ing Arts Ltd. (A CoMY lilljitsl by guamtee) forthe Yesr 31 AU8 2020 Jani Tayloi As%)cia IAmited Chartered Alltant Office 6a Popin Busijw Ca South Way London HA9 OHF
Hoddesdon (CoDununity) Soeiety of Performing Arts Ltd. Contents Reference and Athkninithtive Detai Tn1$, RtTrrt 2w4 StaiaDeDt of Trustees, Rc5[rfbIllties StatemeILI ofFin&Kial A¢iiYities Ba1ce She 89 Note5 to tb¢ Financial Ststemellts IOto21
HoddesdoD (Community) Society of PerforniiDg Art5 LtsL Reference and AdmiDistrative Details Trustees Ms Nicolc May Prknripl oifKe LINtr 2 BRF.WERY YARD BRF.FRy ROAD HODDEStX)N ENII 8HF R¢gistered Offl¢e OFFICE 6A 1ST FL(X)R FY)PtN BUSJNFSS CENTRE soirrH WAY V¥'EMIILEY MIDDX HA9 OHF Compny Registr4tion NMDther 06335746 Charhy Reglstr4tAo4 NuDther 1131899 Indep¢tsdent Exajrri Jani TaylLY AsgKiates Iimited 64 Popin Bu5iw thtre S<xth Way HA9 OHF Pa8e I
HoddesdoD (Community) Society of Perfonning Arts Ltd. TTrstees' Report r1TWKi stsiem¢nis of the cbaritable cryany for the year ended 31 Aug 2020. ObjeLli'es #Dd dlTrdtks Objecis The tluritys objects are to fine arts V4ithin the H](kIll c(Ktrnunity.There b&4 been chaD8e ID tbese duting the yeAr. The tswtees have paid rewd to I&%1 by the Cbarity ID &£idin8 activities charity should und¢rto&e. ObjecliFY5. 51rnrtegie5 Throughout the year the c]Jariry ¢Inued to offer a l'ast educational traiDiD8 Progr of perfonning arts classe5 and leisu actimties for ptoplt ad 18 io pthsiontr. The focus areas ate au aspects of aeting. sinng, dJJLcing aj music ttLilion. The pasi year has also seen an imo other iwluding health and fithes¥. wellbein8. clOal visits and wialist worksknps. The chatity's provision of sd] holiday WOTk5hy h&$ thvusifid to inclu& spcrts catty, arL8 and crafts events children. FMndratsln8 dls¢los An ever-incre&8ing am of ibe ¢hgJitV'5 is LW FfQVt5ion of 5tiwJio and rwTn hire to local gr(8 and org8nisaiJons. Through $ilficant Maintellee inYesth]eDt into our sbjdios the charity provides a meeting plate for large Dumitr of diver local gtOUP5 alld oigani5ati0s lo aThl u5¢ the fxilities. These grow)5 iTKlude; The U3A hea]th and fithess Clubs. fit)e afi grow. t)eedlew(rf. amatew dra11¢$ ¢lub& a ¢hkldc&re prO(kr. profe&sionai tIatre compani¢4 othcr charitics, dIb]lity clJoir4 and many ttKyr¢. Throughout the Y the ¢hatity fo¢us%d on keeping costs to O Tninimiim 10 ettsiire 5p&e lo ups available to all. The charity provides at) extensive ran8e of exietrl trips to theatres aDd th places of 108 the local communiiy a¢ctss events at affordable Cts. Pagc 2
Hoddesdon (Community) Society of Perfonning Arts Lt Trustees, Report bllc benefii The charity contimied to C¢tTrYI¢ to the I1 art5 scene by dc a4 T¢rfonDiD8 6 anmtojr theatri¢ Oductio ltta] the4tre5 for public. These ranged fr(Mn musi1 to drama and de. The charity ¢ontinue5 to exp and &velq) its pro8ramme prOdIn8 workshops and clas5ts for Ioc41 tucatioD providers sh as Priary ard srfotthy SchIs. ¢ollcges aDd aduh disability group5. LiDks with the I(al council were fitber strDgth¢nLul by 5UPPlrtÈDg and povidiDg entenaitiTll¢ni for numeJDU5 town centre initiatives atld ¢¢iebratioDS ine1&. Cbristtn&8 prnI May Day. th¢ clmrter fair the 'tA)ve H]desI} initiaiive.. Higmights of the ¢hpn"lie5 year NE.. [0[ming at a fund rnising gala dimi¢r * the NatI(m Tkntr¢ the creation of classe5 for utykn 3,5. the la¢ of tk 'Sl¥keyaJt apprlatIOtt striety. atMI the WOViSiOD of 8Utst tutors from the hLglLtst kvel of th¢ arts ujdusty lo 0VIde f¢¢]dIe The thL8tees confirni that tly have complied 7th of sectitin 17 of the CThHTities Acl 2011 to have due regard to the public ixDefit 8uidaw publLsbed by tbe Chan"ty COM¢ foT land aDd Wale5. sOI1eS1lic1ts th"ty will contiDue 10proll its et8 of. lging the ans kn all. alld owates a policy of inclusioD to all. Strurture govtnixnce •Dd manageent The rnJ$1¢¢5, Alex Purves and Nicol&% May di[$ foT the putrt)se olco]n law. and served during the year were. MsNMay Mi A Purves Mts L J P3yncr FiD*nclal kntrurntnts ObJecihT¢s 4Rdpobcies The cbtiriry'5 act]lIeS exw)se il to a of fllwKial Tisks incluthng L7rdit risL cash tlom. risk and Illd1ty risL The use of fit)anci&l derivatÉves ts gOved by the ePrity'S policie5 apwOV by the bo&id of tr15. wthich provide TrTitten principles on the use of fiDanci81 thr"Lvatives to manage these risks. The charity does llot use Coshflow The clw]"ty's activitits exw5e it ptiD]arity io financial risks of change5 in forei ¢utrency exehaJ]g¢ rntes and illtere5t raies. The Charity foreigrt exchange fornyrd contts ard swap contsxts io hedge the Interest and lith"lities aTeheld at fix Tate to eJLqwe catsiuty of ca%h flows. Pa8e 3
Hoddesdon {Conimunity) Society of Perforniing Arts Ltd. Trustees. Report Cre1 nsk The elwity's credil tisk is prÈmArity atttibutable to its tsa(k r¢ceii'able5. lthe aouts presented in the balance she¢t are nei of allowances for doubthLI receivables. Ao alloWe fLY ts njade w'here there is an identifjed loss evertt whicw bÈsed on previo8 exwie]Ke. ts evidence of a redtion IJJ the recovernbjljry of the cash flows. The credit risk on liquid funds and d¢riYatii'e finalleial instrwneTLts is lirnitrd becau% the COVDte4wties are bank5 with high cr¢dit-ratings assigned by illlttllaliona] credii-raiitig agencies. The charity ha5 tK) SLgnLrirat wnE¢n11Oll of ¢r¢4ii mk. with sEY¢ad ov¢r a largt numiKr of countetparties and CSt0KS. Liq¥idiO' n$k In order to Tnaintain liquith.ty ¢0 th#1 sfftteni fimd8 are available (Axgoit)g optratsons And fithue deVelopmet, the chariry a mixture of Iong-term and 5bl.Itrrn debt fLtwJce. Further detai15 regarth'ng INuiJiry risk can be in the Statrmeot of actOUlllXti8 w)lieie$ 13) the knial sta*ments. aDnua] rew¢ was awbroved by Ihe tsILsts of the cknrity on 12 May 202184 si8nd on its Tr1[. iw]¢ May TnL81ee Page 4
Hoddesdon (Community) Society ofPerforming Arts Ltd. Statement of Trustees, ReSnsibIlItieS The trLLStees (thj ate also the dirtttm of Ho(kleth ICooNnLmity} kniety of Perfomjing Arts Ltd for the purFK>ses of eompauy law'l are reswnstbk for FrerAring the tsustffs. r¢port the finaCial staiem¢nts i accotdance with the unit KtD8th)m StaTwJarth (Uni1 Km8d(Kn Generally A¢xqrtd Accovnimg Practice) and appli(xble law. regulations. C(wy law requires the InLe¢S to prepate finall¢1 SeMents for each fmarKthl yeaT. IT company law the trstee$ TX)t approve the fllIala1 slaleTllellts utde5s they are 1Sfied that they give a true and fair vieii. of state of affairs of the charitable eompatsy and of its resources aT aFylication of Tes0U. incluthn8 its sdect suilable accounting pollcies and apply thetll coJ]sistaJUw. ob5etve the ethOdS and prilpleS ID the Chan"ties SORP. state whether appli¢ablc UK Accounting St•xlard5 Iwvt l)ttn follorf $ubiect kn any n)ateria] dqxr disclosed and ¢xplauJed in tbe fuwicial ststements; and pr¢pare the fin¢181 5tatem¢nts OD 8Oiti8 cottern h5i5 UDkss it is ]t)appw to prtsum¢ the eharithble ¢ornpany will continue it) bTIl5. The mlsiees T¢SPOTJStble for keepinB awie accounting tec(Yds are 5ufficieDt to sbow I] explain the charitsble tomp9nS trans4CtioS aÈxl d15c105e Thith t¢asonable accuracy time the financia] position of charitsble eoTnpany and enable them effjJTe th¢ finala1 staieinents con¥ty with the Cojnpanies Act 21X>6. They are al responsible for saftguarding the assets of the clwitsble aXDpany Attd fix tsking rea50Dable steps fot the prevention and detrrtson of fraud and other irre8u]an"tits. Approved by th¢ trU£¢S of the charityi)0 12 M4y 2021 aryj signed on its Fthlfbr. Ms Nicole May Trllsiee Page 5
Hoddesdon (Commnnity) Society ofperfonning Art5 LtsL Independeni Examiner's Report to the trustees of Hodde5doD (Community) Society, of Performing Arts Lt I retth to the charity trustees on examition of the acCts of the cbarity the year ended 3 1 All881 2020 which are set (Krt on 7 to 21. Respe£tive responsibilities of trustee5 As the charity's mtsiees of HIe$l)n (Community) &>ciety oCPerformiDg Arts Lid. (and al its directors for the pUr[se5 of con]pany I) Y£ ar¢ r¢5wn5ible for thr ptrpawation of the •(zounts ill accordance the requirnents ofthe Compa15 Act 2(K)6{'the 2 Act.). HaNing s4tisfKd myself thai thr acCouts of Hothsdon (Con]ryi ]ery of PerfoTmang Arts LtsL are not required be oudited uThkr Pon 16 of the Aci and are eli11e for intyLItht esamiDatiotL I re[ iti res of my examinati(MJ of your clwity'5 accounts a5 cale uThkt Section 145 of thr aJatitie5 Act 2011 {'the 2011 A¢t'}. In carrying out my aamination I hve follo the DirecEX0s Bjven by th¢ Ch8n"ty ComTlliSSiOll under section 145(5)Ib) of the 2011 A¢L IDdependent exDthier's stten*Dt I have complet¢d ]ny exarnination. I ¢fim1 n)ffj¢rs have o)m¢ to my aneniion iti Com10n tbe examiDatson givillg me USe to beli". . aecountin8 TOr&S were kept in resp1 of HO&le5d (CoDlln•) &)ciety of PerforniiD8 Arts Ltd as required by seciion 386 of the 2(KI6 Act.. 2. the accounts do Dot acc(xd those teconls: or l. the accounts do uot conwly with the of section 396 of the 2(MI6 A¢¢ (KhEr than any rcquircmcnt that accow give aThJ faiT VIC 111 15 Dot a rnatt coaderj as part of an ReC0t]Jmend Pwtice for a¢couMing and rep)rting by ¢han"ues applicable w charities prepating their accouttts LD accordance the Financid RqM)rtin8 Stathd atT&licable in the and Rcpubbe of Ir¢5and {FRS 102). should in this teport in orderto enable a [0runts[ of the xcounts to be reached. Rajtiikant Jani Charted Accountant The InslinL¢e of Chanered Accountthits in & Wal&8 Office 6a Popin Busin8 Centre Soutb W&y HA9 OHF 12May2021 Pag¢ 6
Hoddesdon (Conununity) Society of Performing Arts LtsL ststement of Finaneial Aetivilies for the Year Ended 31 August 2020 (Including Income and EIpenditsre Account and Ststement of Total Recognised Gains and sses) Totsl 2019 unrestri 20211 ¢e Income and EndoiFJTrpTrts Donations and le8acies Charitable actItieS 171,873 35.187 171,873 -15.187 210,018 207.(KA 207.060 210.0.18 Exp¢ndlfyr¢ on: Raising fimd5 (175.138) {175.138) 1217.718) To¢al expthd1lle (175,138) 175.138 (217.738) Net incomel(expenditure) 31.922 {7,7 Nd in fu]M]5 31.922 31.922 (7.700) R¢¢oJbdilatloD of funds Totsl fittKis brought forward (11,259) (11259) 13.559) 17 20.663 11.259 A]1 olthe ch"ty wtivÈties (kniv¢ ftom tontinw owatiotss the atN)ve The breakdown for 2019 1$ sl¥)wn in te 17. Page 7
Hoddesdon (Community) Soeiety of Performing Arts LtsL (Registration nvmber: 06335746) Balgnce Sbeet as at 31 Augusi 2020 202 2019 Flxed gssets Tangible assets 2,¢r25 2,605 Curnt 855ets Debttys C&sh at baDk and tn bar 12 13 18.515 40.675 6.796 2,098 59,1gX) 8,894 Creditors: Arnounts falling dDe IFithin one yer Net current •5%fWOiabilitie5) 14 (15.5521 (22.758 43.6.18 113.864) Totsl 855ets less current Ilxbllltles 45.663 (11.259) Creditors: Amounts fxlllng fter nre th•• one 15 (25.(#K> Net a55etslOiabilities) 11.259 FuDds ofthe charlty: UllTestricted income fund Ujjrestricied fiaS 20,663 111,259) Total funds 17 20.663 111 •59} For the fiTmKial yw cnding 31 Augwrf 2020 the cknity VlS enlitled to exwon fn)m 5¢CtiOD 477 of Companies Act 21M)6 relalxn8 small eonwies. Directors. resrM)nsibi]ities.' The membets bave not ¢lwity obthin aD a]it of its cOUnts for the year ity queIn ill ac¢ordan¢e st]0 476; aTwJ The directors acknowledge their rewnsLThilities lor tonJptyin8 with the Tr4u1Ets of the Act with Tespect to aceouttting recoids and the pwthtion of accouDts. These accounts have be¢D wep% in x¢ord8C with applicable to COn4MDies Subj to the small The notrs on page5 10 to 21 fonn an inteal of these financial State Pa8e 8
Hoddesdon (Communit)) Soeiety of Performing Arts Ltd. (Registralion number: 06335746) Balance Sheet xs at 31 August 2020 The fLDancial stsiements 8¢5 7 ty) 21 w¢ aNroved by trLLSt*s. 8j authorisd issu¢ on 12 May 2021 and 5iglled on their lthalfby: Ms Nieol¢ May TnL8tee The notcs on rAgcs 10 to 21 forni an inie8ral partof Ihese fin8ncthi Page 9
Hoddesdon (Community) Soeiety of Performing Arts Ltd. Notes to the Fingneial Ststements for the Year EDded 31 August 2020 I Charlty stsths The chatity is limited by gu8raDltt. ittorp¢xalaJ ID F4land 8nd W8leK w)d con5eyntty dS not have share capital. Each of thp tnLStees is liabk to conthbute an txceedin8 £10 iowatds the a55ets of th¢ ¢haJity the eveni tsf liquula¢ioR. The address of its Tegi5t¢ted offi¢¢ 1$: orFIcE 6A 1ST FL(X)R IY)PEN BUSINESS CE[RE soLrrH WAY IIT.MBI.F.Y MIDDX HA9 OHF The ryincirAI platt of TrAL$it ts.. LfNIT 2 BRE.WERY YARD BREWERY ROAD HODDESDON HER]FORDSHJR ENI18HF These finallciai ststements wue autlKXiSed issue bythe tr on 12 May 2021. 2 Atcounting pDlicies Summary of significant accouDti•g plicies and kry •cc(ting estlDMt¢s The pritKipal accounting Folicies applied in the prerAration ofthese fiNanE]a] slal¢llK15 are Set out below. These polici¢s have b¢eR conwÈ¢ndy appjitdto all th¢ yt4ts unless o[Trw Sta1. Stxtement of to111#¢e The financial statements have Fen prepared ITh accord8rtt A¢¢ouri aDd ReFrf)rting by Charities.. Statement of RQllded Ptactice app]icable to chariiies prep8rm8 thfflr a¢¢ordallce with the Financ Reporting Standard a11¢4b]e ti) the ITK and Repubb"c of beland (FRS 102) (effective l January, 20151- IChat]"lies SORP (FBS 102)), the Financial RwrtiDg Sthtmknd aR)licable in UK Republic oftreland (FRS 1021. They a150 comply the Colnpani Ad 2(X)6 and Llwitic5 Act 2011. Ba5]5 of preparation Hoddesdi)n ICommuDity) &>ciety of Pdorniin8 Ans tAd meets the d¢finilioM of a wthlic baKfit entity urder FRS 102. A&8ets and liabilities are initwlly T8Thd & hiaoTi¢al Ot titinlon luc uDk&4 ot1Se slated in the relevant accouDtin8 JN)liey I)e Golng concern The tntsiees consider th•1 there are Tr) maietityl *Ill1r5 ab)ut tlE charttys abilty io continlle És 8 going Concern norany shgnificant atea5 of unceTthty that affect the caTh)in8 Rlue of Sets held by the dwi"ry. Pwlo
Hoddesdon (Community) Society ofperforming Arts Ltsl Notes to the Financial Ststements for the Year Ended 31 August 2020 Exemptlon ptqwring a (ash Ilow ststemty¢ The charity qTrted io early adopt Bulkiiti I wb1151 2 FeTrfflly 2016 a1 have Wore irtclwkd a c&%h flow stsiemeni in these r]ndla1 staiemetbts. Income lld endov•"mEnts All income is re5¢d once the chaTÉty bas entItlenK the income. it is w)tbk that the income will be received and the aoK>Ulli of thE illc(¢ receivdble can k meAsud llbly. All expendiiiire is cOglSed once there ts a legal or ¢nJ1VC dTrligation io that expenth"ture. it is probable selllemeni 1$ requirtrj and the attKxmt can reli8bly. All costs are all(uied io the applicable expenth.ture beading tbat a88regate similar eosts to thdi (¢g[. IiILere costs be d1¢1]V attnbuted to partieu]ar 7Kading5 they bave beeD allocated on a basts tOnSiSt¢th the use of reSoues, with cents31 staff costs alILled on tbc basis of lime S[¢. alld dqjreciati( charges allocatrd on of the &t'S use. surqjort costs are all(Katedb&s&l on the spd of 5tsff costs. R#lslKgf4hd$ trhding Rrtivit1¢5 that raise firwJ5. SuppDrt costs Support ¢OSts includE central fiThtiOD5 and have FeD allrthted to t1Vity cost categories on a tAsts cot)S¥Snt the use of resources. for exatnple, a]k)Cll property c[5 by fl(K)r ar, orw capity stsff c4)sts by the spent atml other by thurusage. Central and l0c4l8overn 8r)t4 incl the CIYODA vin Job Protreti Scheme {CJRSI accounted for on accrua]s b15. Taxatlo The charsty is ¢onsthred to Pa&5 the tests set out in Pata8taph I Scl¢thle 6 ofthe Finance Act 2010 and thejrfore it eets the definition of a chan"table Compa for UK COIrdI10 tsx purrxw. Accordingjy. chan'ty 15 Potentially exempt from t&¥ioD in respect of income or ¢4)M•l gain5 rtreivtd within c4tegories covued by Cbaptei 3 Part i i of the Corrx>ration T8x Act 2010 OT SEdion 256 of the TaxalioD ofchar8eabk Gatns Art 1992. to the extent th such income or gaiDS ate applied exclu8ively io clkritable pwxffts.
Hoddesdon (Community) Society of Perforniing Arts Ltd. Notss to the Financial Ststements for the Year Ended 31 AuEUSt 2020 Txnglble fixed a55ets Indi3'ithl r]xed assets eostiDg £O.IKI or nKTrre are iDitially reciyded 8t St. kss tny gJl>sequent ac£wnulaied dcpreciation and sthgequent accumulated llntAlrDDt losse5. DepreriatioD 4Dd 4nwrti5¥ti0 Dq)rerialion i5 PTovidd on ¢aTEgible fixed OSSd5 as off the ¢( or lUatiOn. k&5 any Gstimattd residllal vajue. over their expected USefi eeottomic life &$ follows.. A55et cla55 L$¢hOld Ptts Plant and maehinery Fixwres, f]ll85 & w]ipmenl Depre£iatioD method aDd r8ts Ovet (he life of the le 25%on rethLcinB balat)ce 25•/•Oll balance Tr8de debtors I'rade d¢btor5 frojn cu5tOmU5 f(Y m¢rchths¢ 9)Id (r %r¥ices rKrformed in the ordinary course of Trade d¢bttK$ 8ff r¢¢ogms¢d initsally ai the tronSa¢tion pri¢¢. ltry aff easUr at amortid cost using the effective ititetest ]neth(Ml less pro$[0 for ]MpaiL A poiision f(K the of traik debtor5 15 established there i5 objective 'Idence that the eharity will Dot be able to collect all anM)unts due according to the origitiAI iertns of the trceivabk Csh 8nd csh eqth]eDts C8£h cash equivalents ¢omwis¢ cash ¢)n hand and call &posit% aMI other highly ]iquJd iDve5ttlle4ts that art readily convertibk to a kiM)WryL aDM)UDt of t and are subjed ins]gtiifieani iisk of ¢lwLge ID value. Trde creditOT5 Trdde ctedilots are obli8ations lo Y or serviccs havc atquiffd its the ordinary cout5e of bus1D$ from suppliers. Accounts pable are ¢Ilfied &$ current 112blties if the ¢hatity doe5 llot bave an unconditional right. ai the ajd of tbe rqK)rting perioQ lo defer settlement ofthe erediior for at leBsi twelve TtK>uths after the report2ng date. If tIe is an ur0rdItIonaI ri8hl w defer sellletllall for 81 lea twelve rnonths after the eporting date. thcy are prested as Dollt liabilitie5. Tttde tredIr$ are TeeogDised ]llitiJlty * thr ts¥uwti¢m pri(Y and 5uiwenily I$u[A ai anM)rtised c05t Using effective interest metlmmi Pw12
Hoddesdon (Community) Society ofperforming Arts Ltd. Notes to the Financial Staten)ents for the Year Euded 31 Apgust 2020 BorroThing5 Int¢r¢st-b¢aring trf)mFknings are iTJitially recorded ai fair l'ah, of tranti[ Costs. Inre-beaTing Eorrowryngs are subsequently carri at ankirt1 co4 with the derence Th¥een IIK pests, Iiei of (Tr¢110n costs. and tbe Tlloullt due on redemptioll illg recognised as a Charge to Ststemetti of Financial ACtItieS over the period of IDtertst expense is te¢ogDised the knis of the effective intesest mthd a1 is illcluded ID iti51 payable and Simi charges. Borrowin8s are tla55ified a5 current I]lItieS the clwity bas an rig to Lkfet 5ettlemeDt of the liability for at least twelve K)ntIL$ after ¢he rep)rfiDg dRt¢. Fund Unr¢sttiCt incme fimd8 ar¢ general fim& that 8re available foT use at the trte£S th"scfftioD in furth of the obj¢¢iLVt5 of th¢ clwity. Cthssljlcrtfiiih Financial assets atMI fiuallcial liabilities are rttognised wkn the charity bttomcs 4 prty to the contsactual proTrisions of the instnllll¢llL Financial liabilities and equity ITnts are dAGed Subs of th¢ contEacts angemts entered itho. An equity inslnknneot is any that eVIdets a Te5idua] tDterest in tk assets of the charity aft deductin8 a]1 of its liabilities. ReeoKnilioM All fiTtaTreial asSS and liabilLties inTtially Ineasr at priyc (including 1ransactiim ¢05ts). cxcept for those financia] a55¢ts cIlfIed &s ai f"r Wal through profit or lo wbi¢h ate initially measwal a¢ fait Yalue (which is normajty the traosactiott pnce traDsaaion tostsl. LwI¢s5 artaDgement Comi]leS a financing trat)s8¢rion. If aTh constitutes 8 finalg ¢t10 the fiJJaneJai a55¢t or fllwicial liabi]ity 1$ rneasuted at th¢ presall valtr of the firtute tAymeDts th.u1 a maTket tate of for 8 similar debt ins1nl. Finattcial assets and liabiEitie5 are )lY offset in th¢ Slat¢ of financial pition wlw alld Mly wben there cxists a legally enforeeable right tts sel off the recogn1r anM)unts atyj the ch&rity intends •ther th settle on a net b&8is. or to realise th¢ awt aud Settle the ]iabi]ity sJmyltsneou5ty. asset expire or ore 5ettl¢d, b) the charity transfers t(F pw 5ubMantialty all of the risks and rewds of owryKrship of the financthl asse¢ ar c) the Clty. (kspÈie having retsuKd SLY. t1 alL significant risks and rerdS of ownetsbip. bas traL$fe¢d control of a&sct to Ier tAty. Fillala1 liabtjities or¢ dL7wogllised (ty when the (Jligatsim wified in the conty¥t is discharged. cantelkd or expirts. Pagt 13
Hoddesdon (Community) Soeietv of Performing Arts Ltd. Noles to the Financial SLeMellts for the Year Ended 31 August 2020 Lkbi instrwH¢nts thich meet the folk)Thin8 cditiO8 are subs4uendy mea5wrd amOrtis cosi using the effective iTJtei¢st rn¢tlKyJ.. (&) The contracts1 Fetwll to the hol&r is (i) a fixed a[n]l. (ii) a tKJsiti%E fixed ratr o¥ a W5itive variable rfft. or (Ill) a cojjkbitiaiithx of a w>5itive ora negativc fixed Trt¢ aj a p05ilive Yatiablt tale. (b) The eontr2ci may provi<k for repayments of the 1cl1 01 the return to tt bolder (bw Ih)th} to ]iDked to a $ingl¢ r¢l¢vanl ob5¢rvable index of ge1 price uallOn of the in lJirh the debi itLStnrnt is denominatsd, provided such liJJks are levetage (cl The contrxt n]ay wovide foT a detern)inable variaknn of the Tetum to the bol¢kr ¢thmnB the life of the in8mnenL prOded thai lil the new rate 5attsfJes con(b"tion (a) atld the variatlcm 1$ 1101 contingenl OD fisture events other than 11) a Chge ora contractual vatiable rate" (2} to protect the holder againsl credit dd¢rioTatioTk of the i55uer,131 c]Jan8es in lemes applied by a central bank or arising from changes in relevant or Jaw,. (x {ul th¢ llcw rate 15 a ]narket rate of interest and 1SfieS condition la). Idl There is colltraCttl piovision that coul¢1 by its ten. Te5uIt ID Ibe the wincipH] amount or any int¢TfSt ¥tiributsble to the ¢wr¢nt periodor prior ptgiLwJs. (e) ContracDJal proTrTrsioDS thai rEtmii the issuer io psepay a debi instsl 01 peThiii the IM)Ider to put it back io the issuer before Jk)aturity are ¢onÈtng¢ni on firtutE ¢Va]14 othLT to protect the holder a88insi the credit det¢riordtion of the issuer or a chan8e in control of issuer, tt to proteci the IKII(kt ot i55uer a8atnst chan8es in l¢vi¢s appiled by a celltrai bgnk OT arising from changes in relevaDt ttion or ]aw. (D Contractual provistons my wmji the exieth¥ion of the t¢¥m ofthe I51[U, provided that the r¢tunJ lo the holder and any ¢Mber ¢ontrnl prol7510 applKablc d18 the exttnded trrni satisfy the wndiii05 of par0Ph$ la) to (c). Debi insinjmcnis that are CIlf1 &8 payable or ieteivoble withjn yw inilial recogmuon a1 wbitb me¢t th¢ glKkv¢ wnditiolls measured at ¢h¢ Uthdisco of eash tr other ton51dtion CAeted to be paid or received, net of imparmettt. t fair value througb profit or1055. may be nil) kss ]mpalltL Invesknents ttl llOn4OTWthible pr¢re¢¢ thaRs aThJ n(fNRrfthle orthnary or weference shares (¢¢ slwes a publicly traded or thetr fair Val ts liablY m¢&wrnbkl are fair thrLwgh profit orloss. Whffe fair Inyesthients in subsidiaries at)d ass(*iaits are meas1 at C051 Iffis iTDPAIuCL For investnmjts in subsidiati¢$ acquir for ColderatiOll ]lUdItI8 issue of sh&tes qualifyJD8 f4X JJ)erger JYli¢f. ¢osi is Tlleasut¢d by ference to the value of the 5har¢5 issued plus fair value of other c(MsMleration. Any premium is ignott Page 14
Hodd¢sdon (Conununity) Society of Performing Arts LknL Notes to the Finaneial Statements for the Year Ended 31 August 2020 DeriwliiJ7Th74ryaal The eh8fity use5 deriiytive finawhl inth]wts to redutt exFK>5we kn foreign exthallge nsk alld interest rate Derivative$ are initially r¢cogDis&I at hir vah the dt a derivative Is entered into aDd are 5ubs4uently Temeasured to their fair value at each rellIng dale. Th¢ resulting 8Ju or Ioss 15 recognEsed in 51ateJnetxt of finala1 actiiitte$ imTtJediaiely ullitss the deitiVe is desiwled arml effwtive Is a I8 trUIn¢n in which event the tllning ofthe reL¥)gnit•)n ID 5tatemaJi of financth] activities on tF¢ nftntre ofthe relationship. Fr The besi evid¢ntt of fair th is a quod priLt for ats Jthnts. in aD acuve Turtet qUert prices ar¢ unavailable, th¢ price of a rEceDt trSal0 for an ideniicaj &sset wobiths dence of fajr iylue &8 1¢)ng &8 there has noi iwk a siwficaDI chattge in ¢¢0M1¢ ¢ircuD]stances w a 5igDifican¢ lapse of time 5]Ie the tsan5action i(N)k place. If the market 1$ not active and mt tranga¢iions of an i(knttsc41 asset on not a 8(KKJ e5ttm&te of fair value. the fair I'ame is ¢5tillhated by using a 1'ahtioN *clmique. 3 Inc•me from donxtlDM legAcies Tfytsl 20211 Total 21119 Regul giving and ¢apitsl d(MJatior 171.t173 171.873 210,038 171.873 171,871 210,038 4 Ive$(Dt Total Total for 2020 Page 15
Hoddesdon {Community) Society of Performing Arts Ltd. Notes to the FinaneAal Ststements for the Year Ended 31 August 2020 5 EipeDdithre on YAllg funds a) Raising funds Total 20111 Totxl 21119 Note Sta8in8 fundraisti)8 events AllOted wptM)rt costs 51.155 120.333 51,155 120.-133 84.713 1.33,005 171,488 171.488 217.738 b) Investment m*nagememt Costs Unre5ttIctt41 Dd5 General Total Al]o(xied Sup[ costs 3.650 3.050 Totxl for 2020 -1.650 6 Coverjllntnt grants Central and local governmetht gants, including the Corona Viru5 Job Protectil Scheme {CJRS) are accounted on rffeipt ba515 in accorda[e with Charities SORP IFRS 1021 effe¢tive l Jalluary 2019. The 8mOUtst ofwts toglSea in th¢ fmancial sthternents Wds £35.187 (2019. £.). 7 Net iDcominy/outgoiDg resource5 Nd Incomi(0jtgolng} resour for the year in¢hth.. 2020 Depreciation of fixed assets 675 PaBe 16
Hoddesdoll (Community) Society of Perfonning Art5 LtsL Notes to the Finincial Statements for the Year Ended 31 August 2020 8 Th1ste¢s a1 expenses Ihw¢ng the yeat the rbarity. made the following wrtb lEee5." Ms Nicole May Ms Nicole May re1Ved rellwllerati of £27.412 {2019.. £27.405) rkning year. Mr Akxander Dad PrYt$ £Nil12019. £5251 OfexpeL BEte reimb kn Mr Akxalkkt lknd Purves thriD8 the yw. 9 Staff The a88re8ate pawll costs wrre &$ follow5." year expressed as fiLiI lime equivalellts vrn5 85 follows.. 211211 2019 2 (2019. 2) of the aknve employees p¢11¢d iti tkr1t C(thlWtl Pensi Schetnes. coDtrLbUtio to the employee Pen0 fcv th¢ y¢4r thI11775 Q019. £1290). No anploytt r1Ved atKyh]nKnts of than £(l,M) thmts8 the y. Pw17
Hodde5don (Community) Society of Performing Art5 LtsL Notrs to the Fin8nci41 Ststements for the Year Ended 31 August 2020 10 Taiation Th¢ thatity is a ¢lwity aTKI 15 tFKtefo ernpt from taxati(KL 11 Tnglbie fixed 85ts FwDiture nd Mcbiner) Tot1 At I Septernb2r 2019 Additions 12.410 95 5378 17,788 95 At 31 August 2020 12,505 5 J78 17,883 Deprecltlo Al I Septetnkn 2019 Charge for the ye4r 5 J77 15,183 675 675 At 31 August 2020 10.481 5 J77 15,858 Net book At 31 AuBIL8t 2020 2,025 At 31 Aug 2019 2,605 ]ncluded wrythin the net Fthkvalue of laA ard IMil¢bn85 is £Nil (2019. £Nfl) in resftxct of free1Id buildÉngs and £Nil {2019- £Nil) in respect of le&th. 12 Debtors 21120 2019 Trade debtors Pr¢paym¢nts 16,-115 2,21M) 3.496 3 J(M) 18.515 6,796 Page 18
Hoddesdon (Commuttity) Society of Perforning Arts Ltd. Note5 to the Financi81 StatemeDts for the Year Ended 31 August 2020 13 Cash •nd c*51t equti'aients 2020 21119 C&8h on band Cash * bank Short-terni deposits 107 15.568 25.(XM) 1.987 40,675 2.098 14 Credttor$: falliug dye yur 2019 TTth ¢110[5 Othu t&uti(n and social security Othet ¢itdilor5 Accrua15 12.764 19.983 {169) 371 2.573 388 15.552 22.758 15 CTrdltors: d4p after omt year 2021J Bank loans 25,0(Kl 16 Pension and other schemes Defined cotttrlb4llon pension 5rhtme The charity operate5 a ¢krlld contnbuuot) pension 5chetr. The cost charge f4x the year represents contnbutÉOJJS Payable by the chaTity lo the 5cbeme I] aDX>Ullted to £121M) (2019_ £1290). P4g¢ 19
Hoddesdon {CommuDity) Society of Performing Arts Ltd. Notes to tbe FiDancial Statements for the Year Ended 31 Apgust 2020 17 Balre at i Stptember 21119 IDcoming ResOUe5 e4Rnded Allgu5t 21120 Unrestrlcted fuDds 111.2591 175.138 20,663 Bxl*Dte at I Resourtes eended at 31 August 2019 2018 Unre5tr1rted fund5 13.5591 210.038 (217.738) {11.259 Pa8e 20
HoddesdoD (Community) Society of Perfonning Arts Ltd.
Note5 to the Financial StstemeDts for the Year Ended 31 August 2020
18 An•lysl$ ofnet •ssets betwee hnd5
U•restrltted Totsl funils t
nds
31 August
GeDer*l
2020
TpJwible r]xed assets
CUtnt assets
Current liabtlities
CTedilors over l ye8r
2.025
59.190
(15.552)
,()
2,025
s9,1)
(15.552)
(25.(KM))
Totsl net assets
20.663
20.663
Umre5tritted
nds
Totsl fwids &t
31 August
21119
Tangible fLxed assets
Cut[l a5s¢ts
Current liabilities
2.(Q5
8.894
22.758
2,605
8,894
22,758
Total net &ts
11.259
19 ofwet fund5
Ati
September TrTrnan