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2023-03-31-accounts

AESOP ARTS AND SOCIETY LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

The MGroup Partnership Chartered Certified Accountants

4 Witan Way Witney, Oxon OX28 6FF

Company Registration Number: 06998306

Registered Charity Number: 1134572

AESOP ARTS AND SOCIETY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

CONTENTS PAGES
Reference and administrative details 1
Trustees' report 2 to 11
Independent examiner's report 12 to 13
Statement of financial activities and income and expenditure account 14
Balance sheet 15 to 16
Notes to the financial statements 17 to 26
The following page does not form part of the financial statements
Detailed income and expenditure account 27

AESOP ARTS AND SOCIETY LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES AND DIRECTORS

Professor K Fenton CBE Mr P Daniel Ms E Gladstone Mrs H Gordon Mr M Hampton Ms J Thornton Mrs J E Casson

COMPANY SECRETARY

Mr T Joss

REGISTERED OFFICE

Wittas House Two Rivers Station Lane Oxfordshire OX28 4BH

COMPANY REGISTRATION NUMBER

06998306 England and Wales

CHARITY REGISTRATION NUMBER

1134572 England and Wales

ACCOUNTANTS

The MGroup Partnership Chartered Certified Accountants 4 Witan Way Witney Oxon OX28 6FF

AESOP ARTS AND SOCIETY LIMITED

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees are pleased to present the annual report and financial statements of the charitable company for the year ended 31[st] March 2023. These statements have been prepared also to meet the requirements for a directors’ report and accounts for Companies Act purposes.

This report covers:

REFERENCE AND ADMINISTRATION DETAILS

The charity’s name is Aesop Arts and Society Limited.

Charity Registration Number: 1134572 Company Number: 06998306 Registered Office: Wittas House Two Rivers Station Lane Witney Oxfordshire OX28 4BH

DIRECTORS, TRUSTEES AND KEY MANAGEMENT PERSONNEL

The Directors of the charitable company (the charity) are its Trustees for the purposes of charity law. The Trustees and officers who served during the year and since the year end were as follows:

Trustees: Professor Kevin Fenton CBE (Chair) Julia Casson Peter Daniel Emma Gladstone Helen Gordon Mark Hampton Jacqui Thornton Chief Executive & Founder: Tim Joss

AESOP ARTS AND SOCIETY LIMITED

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

AESOP'S VISION, AIMS AND CHARITABLE OBJECTS

This was the fourth full year of Aesop's 2019-25 plan.

Aesop's vision is 'A future when arts solutions for society’s problems are valued and available for all who need them'. The tagline 'Arts solutions for society's problems' is used.

To realise the vision, Aesop is focused on three aims:

  1. Develop arts solutions based on social needs, and accelerate the pace of their adoption.

  2. Show health, care and other sectors how the arts can work for them.

  3. Develop research and practice networks for arts solutions.

A key concept is the 'aesop', an arts enterprise with a social purpose with the following characteristics:

It works

It meets a need

Aesop’s charitable objects, as recorded on the Charity Commission website, are: ‘Education/training; The Advancement Of Health Or Saving Of Lives; Arts/culture/heritage/science’.

ACTIVITIES: ACHIEVEMENTS AND PERFORMANCE

The Aesop 2019-25 plan includes a logic model to deliver the vision and aims. This consists of an overview, aims, context, inputs, activities, outputs, outcomes, logic and indicative key performance indicators.

Aesop’s overview is that, while the arts sector believes in the arts’ power to transform lives, other sectors are not convinced. Aesop provides leadership on arts solutions for society’s problems which are valued and available for all who need them. It currently focuses on arts and health and will later apply its experience and expertise to other sectors. Aesop’s chosen drivers for change are bridge-building between the arts and other sectors, exemplar programmes and their accelerated take-up, continuing professional development, research, knowledge transfer and policy development.

AESOP ARTS AND SOCIETY LIMITED

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

ACTIVITIES: ACHIEVEMENTS AND PERFORMANCE (continued…)

Evidence of the need to convince the health sector is provided in the 2017 ‘Creative Health’ report of the All-Party Parliamentary Group for Arts, Health and Wellbeing. It concluded that ‘the United Kingdom is still very far from realising more than a small modicum of the potential contribution of the arts to health and wellbeing’ [page 4]. It traces ‘ the recent history of the arts interacting with health and wellbeing’ back to the early 1970s [page 21]. This situation has therefore existed for nearly 50 years.

Delivering Aim 1: Develop arts solutions based on social needs

Dance to Health

Dance to Health https://dancetohealth.org is Aesop's demonstrator programme. It aims to show that an ‘aesop’ – arts enterprise with a social purpose – can be shown to work, meet a need and become a universal service. Dance to Health addresses the major health challenge of older people’s falls. The NHS website acknowledgesthat 'Falls are common, but often overlooked, cause of injury... [and] can cause the person to lose confidence, become withdrawn, and feel as if they have lost their independence.' One third of people aged 65 plus, and half of people aged 80 plus, have a major fall at least once a year. Falls cost the NHS over £3 billion a year. The NHS commissions evidencebased, 26-week exercise programmes, called Otago and FaME. These can significantly reduce falls but researchers have found problems with delivery: the programmes are 'dull', completion rates are low, poor fidelity to Otago and FaME, provision is patchy and follow-on maintenance programmes are vital but rare.

A 2020 evaluation by Sheffield Hallam University concluded that Dance to Health ‘offers the health system an effective and cost-effective means to address the issue of older people’s falls.’ This and other reports on the programme are available here: https://ae-sop.org/resources.

There were several highlights of Dance to Health’s 2022-23 progress as an ‘aesop’.

New contractors included NHS Herefordshire & Worcestershire (Aesop’s first contract with a NHS Integrated Care Board), Dudley Council, Birmingham Bangladesh Women’s Association, Focus Birmingham (supporting people with sight loss and complex needs) and One Housing Group.

Dance to Health was a winner of Innovate UK’s competition, ‘Healthy Ageing – scaling social ventures’. This involves a 12-month contract from February 2022 to provide research and development services. The package consists of £328,057 and a range of technical support. The workstreams are ‘Local Governance’ (sustainable Dance to Health branches run by local people), ‘Care Home Films’ (online film library to complement live classes), ‘Falls Prevention Society’ (involving older people in developing falls prevention practices, research and policy) and ‘Dance Artists’ (dance artist training and three-year plan to ensure the availability of trained dance artists keeps pace with Dance to Health’s growth).

AESOP ARTS AND SOCIETY LIMITED

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

ACTIVITIES: ACHIEVEMENTS AND PERFORMANCE (continued…)

Delivering Aim 2: Show health, care and other sectors how the arts can work for them

Online platform: https://prescribe-arts.org

The platform was launched on 31 January 2023. It aims to enable health professionals (and particularly Social Prescribing Link Workers) and members of the public to find high quality arts programmes with health benefits. Lead partners are the National Academy for Social Prescribing and three arts organisations, Live Music Now, The Reader and Sing to Beat. All have helped shape its development. By the end of the year, 106 arts organisations and 133 arts programmes were registered.

‘Innovation Transforming the NHS in its 75th Year’ – 22 February 2023 – Royal Institution

The NHS is strongly committed to speeding up the adoption of well-evidenced innovations. NHS Accelerated Access Collaborative leads on this and in February 2023 it was supporting 1,950 innovations. Of the 1,950, six were selected for this event attended by the NHS Chief Executive and organised by NHS National Clinical Lead for Innovation, Professor Tony Young. Dance to Health was one of these. Tim Joss was interviewed, followed by a demonstration featuring the Birmingham Bangladesh Women’s Association Dance to Health Group.

Delivering Aim 3: Develop research and practice networks for arts solutions

Community of Practice

Early work was undertaken to bring together and support the arts organisations featured on the online platform https://prescribe-arts.org. It aims to be a Community of Practice, enabling members to develop their artistic impact, social impact and grow their earned income.

ACTIVITIES: DELIVERING PUBLIC BENEFIT

The Trustees confirm that they have complied with their duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Aesop provides public benefit through programmes which directly involve the public (Dance to Health) and which develop knowledge (all other Aesop initiatives).

AESOP ARTS AND SOCIETY LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2023

ACTIVITIES: FUTURE PLANS

In line with Aesop’s 2019-25 Plan, Aesop’s work programme for 2023-24 consists of:

DANCE TO HEALTH

OTHER ‘AESOPS’ [Arts Enterprises with a Social Purpose]

AESOP INSTITUTE [supporting the health and arts sectors]

ADVOCACY, COMMUNICATIONS AND POLICY PROGRAMME

CORPORATE OBJECTIVES

AESOP'S GOVERNANCE, MANAGEMENT AND PARTNERS

GOVERNING DOCUMENT

Aesop Arts and Society Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 21 August 2009. It is registered as a charity with the Charity Commission. Members of the charitable company guarantee to contribute amounts not exceeding £1 to the assets of the charitable company in the

t f i di

AESOP ARTS AND SOCIETY LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2023

event of winding up.

AESOP'S GOVERNANCE, MANAGEMENT, CLIENTS AND FUNDERS (CONTINUED…)

TRUSTEES' RESPONSIBILITIES, RECRUITMENT AND INDUCTION

The directors keep the composition of the board under review and seek to appoint additional members with appropriate skills and expertise should the need arise.

EXECUTIVE TEAM

Aesop has a team of 10 salaried staff, 39 freelance dance artists and 31 regular volunteers in addition to Board members. Trustees are pleased to record their appreciation for the team’s commitment, hard work and resourcefulness.

RISK MANAGEMENT

The directors reviewed risk management during the year and adopted the following new approach:

COMMUNICATIONS

Aesop’s websites:

Twitter accounts:

AESOP ARTS AND SOCIETY LIMITED

FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES' REPORT

AESOP'S GOVERNANCE, MANAGEMENT, CLIENTS AND FUNDERS (CONTINUED…)

CLIENTS, FUNDERS AND PARTNERS

Aesop records its profound appreciation to its clients, funders and partners:

FINANCIAL REVIEW

REPORTING

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 the Republic of Ireland (FRS 102) (effective 1st January 2015).

AESOP ARTS AND SOCIETY LIMITED

FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES' REPORT

FINANCIAL REVIEW (CONTINUED….)

RESERVES POLICY

The Trustees have examined the charity’s requirements for reserves taking account of the main risks to the organisation. It has established a policy whereby the unrestricted funds target, not committed or invested in tangible fixed assets, held by the charity should be at least six months of expenditure on salaries and overheads. In the year to 31 March 2023, this figure equalled £293,354. The reserves are needed to meet the working capital requirement of the charity and the Trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.

The present level of unrestricted funds available to the charity is £95,143. This is therefore below the target level of Reserves which Trustees aim to achieve through prudent budgeting in future years.

PERFORMANCE

The overall out-turn in the year to 31 March 2023 was financially challenging with the impact of the pandemic and restructuring of the NHS continuing to inhibit growth of earned income. Management responded by reducing costs from was in budget and renewed efforts to upsell to existing customers and acquire new ones.

Dance to Health sales growth was achieved in 2021-22. Contract income continues to increase: £55,000 (2019-20), £90,273 (2020-21) £201,350 (2021-22) and £215,749 (2022-23).

Total revenue was £530,191, a 24% increase on the previous financial year. The overall loss for the year was £56,517. Unrestricted funds increased from £83,293 to £95,143.

BANKERS

The bankers for the charitable company are The Royal Bank of Scotland.

AESOP ARTS AND SOCIETY LIMITED

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also directors of Aesop Arts and Society Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). 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 the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ACCOUNTANTS

The MGroup Partnership 4 Witan Way Witney Oxon OX28 6FF

AESOP ARTS AND SOCIETY LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2023

SMALL COMPANY REGIME

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

This report was approved by the trustees on:

Professor K Fenton Trustee - Chair

AESOP ARTS AND SOCIETY LIMITED

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 MARCH 2023

I report on the accounts for the year ended 31 March 2023, which are set out on pages 14 to 26.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ACCA.

Having satisfied myself that the charity is not subject to audit under part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

AESOP ARTS AND SOCIETY LIMITED

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

have not been met or

PD SMITH (FCCA)

For and on behalf of

THE MGROUP PARTNERSHIP CHARTERED CERTIFIED ACCOUNTANTS

4 Witan Way Witney Oxon, OX28 6FF

AESOP ARTS AND SOCIETY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
Notes Unrestricted Restricted Total Total
Funds Funds Funds 2023 Funds 2022
£ £ £ £
INCOME
Income from generated funds:
Donations and legacies - - - 25
Grants 258,471 107,489 365,960 334,697
Income from charitable activities 164,231 - 164,231 92,539
Total income 4 422,702 107,489 530,191 427,261
EXPENDITURE
Expenditure on charitable activities:
Charitable activities 407,702 175,856 583,558 474,803
Governance costs 3,150 - 3,150 15,310
Total expenditure 5 410,852 175,856 586,708 490,113
NET (EXPENDITURE) / INCOME 11,850 (68,367) (56,517) (62,852)
Transfer between funds - - - -
NET MOVEMENT IN FUNDS 11,850 (68,367) (56,517) (62,852)
Reconciliation of funds
Total funds at 1 April 2022 15 83,293 80,536 163,829 226,681
Total funds at 31 March 2023 15 95,143 12,169 107,312 163,829
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

AESOP ARTS AND SOCIETY LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023

----- Start of picture text -----
Notes 2023 2022
£ £
FIXED ASSETS
Tangible assets 10 502 -
CURRENT ASSETS
Debtors 11 74,553 57,878
Cash at bank and in hand 87,360 147,591
161,913 205,469
CREDITORS : Amounts falling due 12 55,103 41,640
within one year
NET CURRENT ASSETS 106,810 163,829
NET ASSETS 107,312 163,829
FUNDS OF THE CHARITY:
Unrestricted income funds 15 95,143 83,293
Restricted income funds 15 12,169 80,536
TOTAL CHARITY FUNDS 107,312 163,829
----- End of picture text -----

Registered Company Number: 06998306

AESOP ARTS AND SOCIETY LIMITED

AS AT 31 MARCH 2023

BALANCE SHEET

These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard 102 Section 1A smaller entities.

For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

No notice has been deposited under section 476 of the act requesting the company to obtain an audit.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

Signed on behalf of the board of trustees

Professor K Fenton CBE

Trustee - Chair

Date approved by the board:

Registered Company Number: 06998306

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 GENERAL INFORMATION

Aesop Arts and Society Limited is a registered charity and private company limited by guarantee and incorporated in England and Wales. Its registered office and principal place of business is:

Wittas House

Two Rivers Station Lane Witney Oxfordshire OX28 4BH

The financial statements are presented in Sterling, which is the functional currency of the charity.

The charity is a public benefit entity.

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of preparation of the financial statements

These financial statements have been prepared under the historical cost convention and in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ("FRS 102"), the Companies Act 2006 and the Charities Act 2011.

Going concern

The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. The charity continues to operate in challenging markets which can change quickly and so will constantly monitor its ongoing ability to meet future liabilities.

Incoming resources

Interest on funds held on deposit is recognised on a receivable basis.

Grant income has been recognised in the accounts on a receivable basis.

Earned income has been included in the accounts on an accruals basis.

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2 STATEMENT OF ACCOUNTING POLICIES (continued…)

Expenditure

All expenditure is recognised when a liability is incurred and has been classified under headings that aggregate all costs related to that heading.

Costs of charitable activities are expenses directly incurred in achieving the objectives of the charity.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Tangible fixed assets

Tangible fixed assets costing more than £500 are capitalised.

Fixed assets are stated at cost less accumulated depreciation.

Depreciation has been provided at the following rates so as to write off the cost less residual value of the assets over their estimated useful lives.

Office equipment Straight line basis at 25% per annum Computer equipment Straight line basis at 33% per annum

Grants and donations

Grants and donations are only included in the Statement of Financial Activities when the charity has unconditional entitlement to the resources and are treated as restricted or unrestricted income in line with the donor’s instructions.

Leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income and expenditure account on a straight line basis over the lease term.

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2 STATEMENT OF ACCOUNTING POLICIES (continued…)

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the statment of financial activities.

If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the statement of financial activities.

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2 STATEMENT OF ACCOUNTING POLICIES (continued…)

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

Funds

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes.

Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Pensions

The company operates a defined contribution pension scheme. The amount charged to the income and expenditure account in respect of pension costs is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.

3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4 INCOMING RESOURCES

The incoming resources included on page 12 consist of the following sources of income:

Unrestricted
Funds
Income from Donations
Donations and legacies
-
-
Income from grants
Art Council Wales
Arts Council England
Colwinston Charitable Trust
National Academy for Social Prescribing Arts
3,600
Dudley Metropolitan Borough Council
-
The Foyle Foundation
20,000
ExtraCare Charitable Trust
-
Oak Foundation
78,696
Dulverton Trust
-
Swansea Bay University Health Board
16,800
Birmingham City Council
56,375
Walsall Council Public Health
Neath Port Talbort Council
-
One Housing Group
8,000
Herefordshire Council
75,000
258,471
Income from charitable activities
Dance to Health Service Contracts
163,429
Dance to Health Sales to the Public
802
164,231
Total Income
422,702		 Restricted
Funds
-
-
44,852
47,637
15,000
107,489
-
107,489		 2023
Total
-
-
44,852
47,637
15,000
3,600
-
20,000
-
78,696
-
16,800
56,375
-
-
8,000
75,000
-
365,960
163,429
802
164,231
530,191		 2022
Total
25
25
-
124,633
-
-
-
-
3,780
71,304
30,000
21,000
55,000
-
28,980
-
-
-
334,697
89,740
2,799
92,539
427,261

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5 EXPENDITURE

The resources expended included on page 12 consist of the following sources of expenditure:

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted|2023|2022| |Funds|Funds|Total|Total| |£|£|£|£| |Charitable activities| |Prescribe Arts|483|-|483|-| |Dance to Health Phase 1|1,941|-|1,941|-| |Dance to Health Phase 2 and Online| |Platform|-|160,443|160,443|100,496| |Aesop Institute expenses|15,413|15,413|-| |Hub expenses|405,222|-|405,222|374,182| |Depreciation|56|-|56|125| |407,702|175,856|583,558|474,803| |Governance costs| |Governance costs - audit|-|-|-|5,700| |Governance costs - independent exam|3,150|-|3,150|-| |Governance costs - other|-|-|-|9,610| |3,150|-|3,150|15,310| |Total expenditure|410,852|175,856|586,708|490,113|

----- End of picture text -----

7 EMPLOYEES

The average number of persons employed by the company (including trustees) during the year was:

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |Average number of employees|8|8|

----- End of picture text -----

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8 STAFF COSTS

Staff costs during the year amounted to:
Salaries and wages
Social security costs
Pension contributions		 2023
£
262,579
27,334
13,615
303,528		 2022
£
271,142
23,187
13,831
308,160

No trustees received any remuneration during the year (2022 - £Nil). In addition, no trustee expenses have been incurred (2022 - £Nil).

9 KEY MANAGEMENT PERSONNEL REMUNERATION

The emoluments of one member of staff are within the range of £85,000 to £94,999. (2022 - one in the range of £80,000 to £89,999), not including retirement benefits.

Salary and wages
Pension
Key management personnel remuneration for the year amounted to:		 2023
£
86,676
4,964
91,640		 2022
£
84,266
4,457
88,723

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10 TANGIBLE ASSETS

Cost
At 1 April 2022
Additions
At 31 March 2023
Accumulated depreciation
At 1 April 2022
Charge for year
At 31 March 2023
Net book value
At 1 April 2022
At 31 March 2023
11
DEBTORS
Trade debtors
Prepayments and accrued income		 Office
equipment
£
3,508
-
3,508
3,508
-
3,508
-
-		 Computer
equipment
£
10,229
558
10,787
10,229
56
10,285
-
502
2023
£
70,923
3,630
74,553		 Total
£
13,737
558
14,295
13,737
56
13,793
-
502
2022
£
56,704
1,174
57,878

Included within accrued income is income from charitable activities, as detailed in Note 5. Within the Dance to Health Service Contracts, there is an amount of £3,630 that has been accrued from the year ended 31 March 2023.

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12 CREDITORS: amounts falling due within one year

Trade creditors
Taxation and social security
Accruals
Deferred income		 2023
£
21,408
25,050
6,901
1,744
55,103		 2022
£
23,754
9,813
8,073
-
41,640

Included within deferred income is income from charitable activities, as detailed in Note 5. Within the Dance to Health Service Contracts, there is an amount of £1,744 that has been deferred to the year ended 31 March 2023 (2022: £nil).

13 COMMITMENTS

Amounts falling due next year under operating leases for land and buildings:

Amounts falling due next year under operating leases for land and buildings:
Expiring in less than one year
Expiring in more than one but less than two years		 2023
£
-
-
-		 2022
£
4,167
-
4,167

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 March 2022 represented by:

Tangible assets
Debtors
Cash at bank and in hand
Current liabilities		 Restricted
funds
£
-
41,708
19,500
(14,725)
46,483		 £
502
32,845
67,860
(40,378)
60,829
Unrestricted
funds		 Total funds
£
502
74,553
87,360
(55,103)
107,312

AESOP ARTS AND SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15 MOVEMENT IN FUNDS

£
Unrestricted funds:
General funds
83,293
Total unrestricted funds
83,293
Restricted funds
Dance to Health
69,136
National Conference &
Showcase
-
Aesop Institute
11,400
Total restricted funds
80,536
Total funds
163,829
Movement in funds (previous year)
£
Unrestricted funds:
General funds
182,361
Total unrestricted funds
182,361
Restricted funds
Dance to Health
44,320
Aesop Institute
-
Total restricted funds
44,320
Total funds
226,681
At 1 April 2021
(as restated)
At 1 April
2022		 £
422,702
422,702
89,489
-
18,000
107,489
530,191
£
266,657
266,657
149,204
11,400
160,604
427,261

Incoming
resources
Incoming
resources		 £
(410,852)
(410,852)
(160,443)
-
(15,413)
(175,856)
(586,708)
£
(389,617)
(389,617)
(100,496)
-
(100,496)
(490,113)
Outgoing
resources
Outgoing
resources		 -
-
-
-
-
-
23,892
23,892
(23,892)
-
(23,892)
-
Transfers
Transfers		 £
95,143
95,143
(1,818)
-
13,987
12,169
107,312
£
83,293
83,293
69,136
11,400
80,536
163,829
As at 31
March 2022
As at 31
March 2023

AESOP ARTS AND SOCIETY LIMITED

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
2023 2022
£ £
INCOME
Dance to Health Phase 1 25,630 -
Hub 105,521 266,657
Dance to Health Phase 2 and Online Platform 379,164 149,204
Aesop institute 19,875 11,400
530,190 427,261
Administrative expenses
Dance to Health Phase 1 1,941 -
Aesop Institute expenses 15,413 -
Hub expenses 408,110 374,182
Governance costs - 15,310
Dance to Health Phase 2 and Online Platform 160,704 100,496
Prescribe Arts 483 -
Depreciation office equipment - 125
Depreciation computer equipment 56 -
586,707 490,113
Operating (deficit) (56,517) (62,852)
TRANSFER (FROM) INCOME AND EXPENDITURE
ACCOUNT (56,517) (62,852)
Income and expenditure account brought forward 163,829 226,681
INCOME AND EXPENDITURE ACCOUNT CARRIED FORWARD 107,312 163,829
----- End of picture text -----