## **LONG EATON ART ROOM** 

## **COMPANY LIMITED BY GUARANTEE** 

## **FINANCIAL STATEMENTS FOR 31 MARCH 2021** 

**Company Registration Number 07148936 Charity Number 1136196** 

## **DERBY COMMUNITY ACCOUNTANCY SERVICE** 

Babington Lodge 128 Green Lane Derby 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

|**Contents**|**Page**|
|---|---|
|Members of the board and professional advisers|**1**|
||**2-5**|
||**6**|
|Statement of financial activities|**7**|
|Balance sheet|**8**|
|Notes to the financial statements|**9-17**|





## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS** 

**The board of trustees/directors** Diane Dakin (Chair)) Ian Mitchell (Treasurer) Ian Slater Raymond Gumbley 

**Registered office** 29-31 Lime Grove Long Eaton Nottingham NG10 4LD **Independent Examiner** Mark Newey ACMA Derby Community Accountancy Service Babington Lodge 128 Green Lane Derby DE1 1RY 

**-1-** 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **YEAR ENDED 31 MARCH 2021** 

The trustees, who are also Directors for the purposes of the Companies Act, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2021. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **OBJECTIVES AND ACTIVITIES** 

To promote for the benefit of the inhabitants of Erewash and the surrounding areas the provision of facilities, items and services to enable the public at large to engage in the creative arts and education in the arts and to do so in the interests of social welfare and with the object of improving the condition of life for the said inhabitants. 

Association, incorporated on 6[th] February 2010. 

## **SUMMARY OF THE MAIN ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT IN RELATION TO THESE OBJECTS** 

To achieve this object we will provide: 

- An open studio facility with regular opening hours, located in the Borough of Erewash, providing a safe and inviting environment with equipment and materials for a wide range of creative arts. 

- Workshops with tuition from practicing artists, in our own studio or in community facilities elsewhere in the Borough of Erewash. 

- An exhibition space for display of work by individual artists, groups and schools. 

- Individual artist studio spaces for rent to practising artists. 

- Work experience and volunteer opportunities for individuals to improve their confidence, assertiveness and communication skills. 

In delivering these facilities we aim to benefit the following sections of the public: 

- The general public (of all ages from children to senior citizens), without any restriction on previous artistic education or experience, both individually and through community organisations such as societies and schools. 

- Artists, who wish to develop their skills through use of our facilities, and promote their work through exhibitions and workshops. 

- Socially excluded groups and individuals, by providing an opportunity to participate more fully with society and improve self-esteem through creative activity. 

Open studio sessions are open for anyone to drop-in at a small fee for a 3-hour session, or by monthly subscription. Workshops are priced to recover direct costs and contribute to overheads. Exhibitions are open to the public to view without charge. We work with caring and supporting organisations to obtain funding for participation by disadvantaged individuals. 

**-2-** 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **YEAR ENDED 31 MARCH 2021** 

The Trustees believe that in undertaking these activities they have taken due regard of the guidance on public benefit issued by the Charity Commission. 

## **Achievements and Performance** 

The Covid-19 pandemic and consequential restrictions have had a major impact and most of our activities were suspended for the whole of the financial year 1 April 2020 to 31 March 2021. The focus of the trustees has been to protect our staff, clients and the artists who rent studio space, and conserve our finances in anticipation that we may face a reduced level of income for a period even after restrictions have ended. 

1. Throughout the year the trustees have held regular online meetings, and this format was also used for the Annual General Meeting. 

2. Our premises remained closed to the public throughout the year, without any of the regular drop-in sessions, workshops or room rental to other organisations. We have deliberately taken a very conservative attitude to re-opening due to the vulnerable nature of many of our traditional clients. 

3. We made use of the government Coronavirus Job Support scheme to furlough our staff fully during lockdown periods. In periods where restrictions were eased we used the Our total 

income for the year from this source was £11,589.18. Our manager continued to work from home throughout. 

4. We received an additional government grant of £25,000 for the retail, hospitality and leisure sector (the value of the grant was linked to the rateable value of our premises). This support allowed us to offer a 6 month rent holiday to our artist studio tenants and this has enabled them all to continue in business and we have maintained 100% occupancy of the studios. We have retained a substantial part of this grant in our reserves to support resumption of our wider activities when it is safe to do so. 

5. studios with individual rooms has allowed the artists who rent space from us to continue to work while maintaining social distancing. To ensure the highest possible level of safety, we undertook a risk assessment for the shared spaces such as toilets, kitchen and lobby areas, and provided guidance, notices, hand sanitiser and an enhanced cleaning regime. 

6. We received a grant of £2769.93 from Co-Op Community Fund which was originally to be used to fund our feel good Friday craft group sessions. When Covid restrictions closed those sessions we moved to digital communication through social media and regular chats. Providing regular craft ideas and suggestions as well as sourcing and sharing online craft lessons and tutorials aimed at centre users and the wider community to help reduce isolation and keep people active and engaged. 

**-3-** 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **YEAR ENDED 31 MARCH 2021** 

7. We also received a grant of £1000 via Erewash Voluntary Action Covid recovery grant Social Connectedness Fund to help us stay connected to people digitally through the pandemic and to create craft activity packs to distribute through the community.  This contributed towards a new work laptop. We were also able to create and distribute many craft packs throughout the community, mostly completely free of charge. 

## **FINANCIAL REVIEW** 

## **Reserves** 

The reserves policy is to aim to maintain a cash reserve of a minimum of 3 months typical expenditure (currently £3000/month). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

Long Eaton Art Room is based at 29-31 Lime Grove, Long Eaton, which is the company's registered office and the principal address of the charity. Long Eaton Art Room is a company limited by guarantee and not having a share capital (company registration No. 07148936) and Articles of Association. 

## **Trustee selection methods** 

The charity elects trustees at the Annual General Meeting. When the need arises, a skills audit to determine the requirements of the trustee body is carried out. People are approached to put themselves forward for election meet the skills required 

## **Risk management policy** 

The trustees examine the major risks that the charity faces each financial year when preparing and updating the strategic plan.  The charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the charity in the future. 

## **Independent Examiner** 

Mark Newey ACMA of Derby Community Accountancy Service was appointed Independent Examiner during the year. 

**-4-** 



LONG EATON ART ROOM
COMPANY LIMITED BY GUARANTEE
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
Small company provisions
This report has been prepared in accordance with the special provisions for small companies
under part 15 of the Companies Act 2006.
Registered office:
Long Eaton Art Room
29-31 Lime Grove
Long Eaton
Nottingham
NGIO 4LD
Signed on behalf of the trustecs
D. Dakin
Trustee
Approved by the trustees on 7, September 2021

LONG EATON ART ROOM
COMPANY LIMITED BY GUARANTEE
INDEPEf4DENT EXAMINERS REPORT
Independent Examiner's Report to the Trustees of Long Eaton Art Room
I report on the accounts of the company for the year ended 31 March 2021 which are set out on pages
7t0 17.
Respective responsibilities of trustees and examiner
The trustees are responsible foi. the preparation of the accounts. The trustees consider that an audit is
not required for this year under sectioii 144 of the Charities Act 2011 (the Charities Act). It is my
responsibility to..
¢xaJninc tli¢ accounts und¢r s¢ction 145 of th¢ Charities Act,.
follow the procedures laid down in tlie general Dire¢tions given by the Charity Commission
(under section 145{5){b) of the Charities Act) and
to state ivhether particular matters have coinc to rny art¢ntion.
Basis of independent examiner's statement
My examination was carried oiit in accordance with general Directions given by the Charity
Coinmission. An examinatioii includ¢s a rciicw of tli¢ accounting r¢cords kcpt by th¢ ¢liarity and a
comparison of the accounts presented with those records. It also includes consideration of any
unusual it¢m5 or disclosurcs in the accounts, and seeking explanations from you as trustees conc¢rning
any such matters. The procedures undertaken do not provide all the evidence that would be required
in an audit, and consequentlv no opinion is given as to whether the accounts present a 'true and fair
view" and Ihe report is limited io Ehos¢ matiers set oiit in the statement below.
Independent examiner's statement
In connection with my examinalion, no tnatter has coJne to tny attention..
Whieh giv¢s m¢ r¢asoiiabl¢ caus¢ lo believe that, in any matersal respect, the requirements
to keep ac¢ounting records in accordance with section 386 of the Companies Act 2006; and
to prepare accounts which accord with the accoui)ting records. eoinply with th¢ accounting
requir¢incnts of s¢ction 396 of tlic Companies Act 2006 and with the methods and principles of
the Statement of Recommended Practice.. Accounting and Reporting by Chariti¢s
have not been met; or
to which, in my opinion, attentioii sl)ould be drawn in order to enable a proper understanding of
the accounts to be rea¢hed.
Name.. Mark Newey
Address.. Derby Community Accountancy S¢rvic¢, 128 Green Lane, Derby.- DEI IRY
Date '.
11qlzo£l

## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **YEAR ENDED 31 MARCH 2021** 

|||||**Total Funds**|Total Funds|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Year to 31**|Year to  31|
|||**Funds**|**Funds**|**Mar 2021**|Mar 2020|
||**Note**|**£**|**£**|£|£|
|**Income from**||||||
|Donations|**3**|**2,534**|**-**|**2,534**|3,847|
|Investment income|**5**|**205**|**-**|**205**|154|
|Grants receivable|**4**|**25,000**|**15,359**|**40,359**|962|
|Other income|**6**|**18,671**|**-**|**18,671**|47,638|
|**Total incoming resources**<br>**Expenditure on**||**46,410**|**15,359**|**61,769**|52,601|
|Raising funds||**212**|**-**|**212**|1,254|
|**Charitable activities**||**31,110**|**20,168**|**51,278**|53,942|
|**Total resources expended**|**7**|**31,322**|**20,168**|**51,490**|55,196|
|**Net incoming/(outgoing)**||||||
|**resources before transfers**||**15,088**|**(4,809)**|**10,279**|(2,595)|
|Transfer between funds||**-**|**-**|**-**|-|
|**Net movement in funds**||**15,088**|**(4,809)**|**10,279**|(2,595)|
|Funds brought forward||**15,275**|**248,092**|**263,367**|265,962|
|**Funds carried forward**||**30,363**|**243,283**|**273,646**|263,367|



The charity has no recognised gains or losses other than the results for the year as set out above. 

All of the activities of the charity are classed as continuing. 

**The notes on pages 9 to 17 form part of these financial statements** 

**-7-** 



LONG EATON ART ROOM
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
31 MARCH 2021
2021
2020
Note
Fixed asset5
Tangible assets
li
238,433
243,610
Current assets
Debtors
Cash at bank and in hand
Stock and work in progrcss
12
245
36,492
1,970
2.198
17.953
1.970
38,707
22,121
Creditors: amounts falling due
within one year
13
3,494
2,364
Trlet current assets
35,213
19,757
Total assets less turrent liabilities
273,646
263,367
Net assets
273,646
263,367
Funds
Resiricled
Unrestricted
14
14
243,283
30,363
248,092
15,275
TOTAL FUNDS
273,646
263.367
For the year ended 31 March 2021 the company was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities..
{1} The members have not required the company to obtain an audit of its accounts for th¢ year in
question in accordance with section 476,. and
{ii) The directors acknowledge their responsibilitics for coinplying with the requirements of the
Act with respcct to accounting records and the preparation of accounts.
These financial statements have been prepared in accordan¢e with the special provisions for small
companies under Part 15 of the col￿panIeS Act 2006.
These financial statements were approved and authorised for issue by the Trustees on the 7
September 2021 and are signed on their behalf by..
D. Dakin
Trustee
Company R¢gistration Number: 07148936
The notes on pages 9 to 17 form part of these finaDcial statements.

**LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

## **1. Accounting policies** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## **Company information** 

Long Eaton Art Room is a company limited by guarantee not having a share capital. The office is, 29-31 Lime Grove, Long Eaton. At the end of the year there were 4 Trustees, each of whom, under the terms of the Memorandum and Articles of Association, had undertaken to contribute the sum not exceeding £1 in the event of a winding up of the company. 

## **1.1 Accounting convention** 

- Stan d Practice for charities applying FRS 

- 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it apples from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS 102. 

The accounts are prepared in Sterling which is the functional currency of the company Monetary amounts in these financial statements to the nearest £. 

The accounts have been prepared on historical cost convention apart from freehold property that is carried at market value. The principal accounting policies adopted are set out below. 

These are accounts for the year ended 31 March 2021 prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2015. 

## **1.2 Going concern** 

At the time of approving the accounts, the Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. 

## **1.3 Charitable Funds** 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. 

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. 

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. 

**-9-** 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

## **1.4 Incoming resources** 

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind have been included at market value of gifts received and in assets acquired. No amounts are included in the financial statements for services donated by volunteers. 

## **1.5 Resources expended** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in the support of the charitable activities. 

- **1.6 Debtors** 

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

## **1.7 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

- **1.8 Creditors and provisions** 

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

## **1.9 Financial instruments** 

The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## _**Derecognition of financial liabilities**_ 

actual obligations expire or are discharged or cancelled. 

## **1.10 Employee benefits** 

The cost of any unused holiday entitlement is recognised in the period in which the 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

**-10-** 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

## **1.11 Taxation** 

The charity is exempt from tax on income and gains falling with section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 

## **1.12 Depreciation** 

Individual fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives on a reducing balance basis as follows:- 

**Asset category Annual rate** Equipment 33.3% Buildings 2% 

## **2 Critical accounting estimates and judgements** 

   - required to make 

- judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimated and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

## **3 Donations and legacies** 

|||||**Total Funds**|Total Funds|
|---|---|---|---|---|---|
||**Unrestricted**|**Restricted**||**Year to 31**|Year to 31|
||**Funds**|**Funds**||**Mar 2021**|Mar 2020|
||**£**|**£**||**£**|£|
|Donations from individuals|**2,534**<br>||**-**<br>|**2,534**<br>|3,847<br>|
||**2,534**<br>||**-**<br>|**2,534**<br>|3,847<br>|



- **4 Grants Receivable** 

||||**Total Funds**|Total Funds|
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|<br>**Year to 31**|Year to 31|
||**Funds**|**Funds**|**Mar 2021**|Mar 2020|
||**£**|**£**|**£**|£|
|Erewash Voluntary Action|**-**|**1,000**|**1,000**|-|
|Co-Op Community Fund|**-**|**2,770**|**2,770**|162|
|HM revenue and Customs|**-**|**11,589**|**11,589**|-|
|Erewash Borough Council|**25,000**|**-**|**25,000**|800<br>|
||**25,000**|**15,359**|**40,359**|962|



**-11-** 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

|**5.**|**Interest receivable (unrestricted)**|||
|---|---|---|---|
|||**Year to 31**|Year to 31|
|||**Mar 2021**|Mar 2020|
|||**£**|£|
||Bank interest receivable|**205**|154|
|**6.**|**Other income**|||
|||**Year to 31**|Year to 31|
|||**Mar 2021**|Mar 2020|
|||**£**|£|
||Open studio membership|**178**|6,206|
||Kiln firing and other services|**540**|1,006|
||Workshops|**-**|20|
||Artist studio rental|**16,222**|25,179|
||Materials for studio use|**140**|1,657|
||Outsourcing|**-**|160|
||Other charitable services|**-**|523|
||Room hire|**-**|7,029|
||Art shop sales|**-**|4,240|
||Tuck shop sales|**54**|676|
||Gift Aid|**1,537**|942|
|||**18,671**|47,638|



**-12-** 



**LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

## **7. Total resources expended** 

|Rent and rates<br>Depreciation<br>Utilities<br>Consumables<br>Food<br>Goods for resale<br>Publicity<br>Studio, equipment and repairs<br>Artist Fees<br>Professional fees<br>Travel<br>Staff wages<br>Insurance<br>Subscriptions<br>Training<br>Bad debts written off|**Total Funds**<br>**Year to 31**<br>**Mar  2021**<br>**£**<br>**-**<br>**5,177**<br>**9,287**<br>**997**<br>**-**<br>**212**<br>**-**<br>**3,914**<br>**10,600**<br>**569**<br>**227**<br>**18,444**<br>**1,980**<br>**33**<br>**-**<br>**50**<br> <br>**51,490**<br>|Total Funds<br>Year to 31<br>Mar 2020<br>£<br>1,940<br>5,458<br>9,615<br>4,317<br>1,273<br>1,255<br>465<br>1,346<br>9,600<br>600<br>1,108<br>16,075<br>2,032<br>22<br>90<br>-<br>|
|---|---|---|
|||55,196<br>|



Expenditure on charitable activities was £51,278 (2020: £53,942) of which £20,168 was restricted (2020 £5,869) 

## **8. Net (expenditure)/income** 

Net (expenditure)/income for the year is stated after charging/(crediting): 

||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Independent E|**500**|500|
|Depreciation|**5,177**|5,458|
||===========================|**================================**|



## **9. Directors and key management personnel** 

During the year Trustees did not receive remuneration. The key management personnel of the charity consist of the Trustees, professional advisors and the employees. 

**-13-** 



**LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

## **10. Employees** 

**The aggregate payroll costs were:** 

|**The aggregate payroll costs were:**||||
|---|---|---|---|
||**Year to 31**|Year to 31|Mar|
||**Mar 2021**|2020||
||**£**||£|
|Wages and salaries|**18,444**|16,075||
|Social security costs|**-**||-|
|Pension costs|**-**||-|
||**18,444**|16,075||



No employee earned more than £60,000 per annum. No trustees were reimbursed for expenditure. 

The average number of staff employed by the charity during the financial year amounted to: 

|Direct Charitable Staff<br>Governance|**Year to**<br>**31 Mar**<br>**2021**<br>**No**<br>**3** <br>**-** <br>**3**|Year to<br>31 Mar<br>2020<br>No<br>2<br>-|
|---|---|---|
|||2|



**-14-** 



**LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

## **11. Tangible fixed assets** 

|**Cost**<br>At 31 March 2020<br>Additions<br>**At 31 March 2021**<br>**Depreciation**<br>At 31 March 2020<br>Charge for the year<br>**At 31 March 2021**<br>**Net book value**<br>**At 31 March 2021**<br>At 31 March 2020<br>**2.** **Debtors**<br>Other Debtors<br>**3.     Creditors:** **Amounts**<br>Artist studio deposits<br>Trade creditors<br>Total Creditors|**Building**<br>**Fixtures,**<br>**fittings &**<br>**Equipment**<br>**Artworks**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**283,916**<br>**5,575**<br>**2,065**<br>**291,556**<br>**-**<br>**-**<br>**-**<br>**-**<br>**283,916**<br>**5,575**<br>**2,065**<br>**291,556**<br>**43,476**<br>**4,470**<br>**-**<br>**47,946**<br>**4,809**<br>**368**<br>**-**<br>**5,177**<br>**48,285**<br>**4,838**<br>**-**<br>**53,123**<br>**235,631**<br>**737**<br>**2,065**<br>**238,433**<br>240,440<br>1,105<br>2,065<br>243,610<br>**2021**<br>£<br>245 <br>245 <br>**falling due within one year**<br>**2021**<br>**£**<br>**2,561** <br>**933** <br>--------------------------------<br>**3,494** <br>--------------------------------|2020<br>£<br>2,198|
|---|---|---|
||**283,916**<br>**5,575**||
||**43,476**<br>**4,470**<br>**4,809**<br>**368**||
||**48,285**<br>**4,838**||
||**235,631**<br>**737**||
||240,440<br>1,105<br>**falling due within one year**||
|||2,198|
|||2020<br>£<br>2,364<br>-<br>--------------------------------<br>2,364<br>--------------------------------|



## **12. Debtors** 

## **13.     Creditors: Amounts falling due within one year** 

**-15-** 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

## **14. Statement of funds** 

|<br>**Unrestricted reserves**<br>**Total unrestricted funds**<br>Buildings<br>Erewash Voluntary Action<br>Co-Op Community Fund<br>HM Revenue and Customs<br>**Total restricted funds**<br>**Total funds**|**At**<br>**1 April**<br>**2020**<br>**Incoming**<br>**Outgoing Transfers**<br>**£**<br>**£**<br>**£**<br>**£**<br>**15,275**<br>**46,410**<br>**(31,322)**<br>**-**<br> <br> <br> <br>**15,275**<br>**46,410**<br>**(31,322)**<br>**-**<br>**248,092**<br>**-**<br>**(4,809)**<br>**-**<br>**-**<br>**1,000**<br>**(1,000)**<br>**-**<br>**-**<br>**2,770**<br>**(2,770)**<br>**-**<br>**-**<br>**11,589**<br>**(11,589)**<br> <br> <br> <br>**248,092**<br>**15,359**<br>**(20,168)**<br>**-**<br>**263,367**<br>**61,769**<br>**(51,490)**<br>**-**|**At**<br>**31March**<br>**2021**<br>**£**<br>**30,363**<br>**30,363**<br>**243,283**<br>**-**<br>**-**<br>**-**<br> <br>**243,283**<br>**273,646**|
|---|---|---|



## **Restricted Funds** 

The Building fund represented the value of the building yet to be depreciated and future expenditure. 

Co-Op Community Fund money was spent on digital communication, providing regular craft ideas and suggestions as well as sourcing and sharing online craft lessons and tutorials aimed at centre users and the wider community to help reduce isolation and keep people active and engaged. 

Erewash Voluntary Action Covid recovery grant Social Connectedness Fund to help us stay connected to people digitally through the pandemic and to create craft activity packs to distribute through the community.  This contributed towards a new work laptop. We were also able to create and distribute many craft packs throughout the community, mostly completely free of charge. 

HM Revenue and Customs Job Retention Scheme contributed to the furlough wage payments. 

**-16-** 



## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 MARCH 2021** 

## **15 Analysis of net assets** 

|**Tangible**<br>**fixed assets**<br>**Other**<br>**net assets**<br>**£**<br>**£**<br>**Unrestricted funds**<br>2,802<br>27,561<br>**Restricted funds**<br>Building Project<br>235,631<br>7,652<br>238,433<br>35,213|**Total**<br>**£**<br>30,363<br>243,283<br>273,646|
|---|---|



## **16. Related party transactions** 

The charity had no related party transactions that required disclosure. 

**-17-**