## **LONG EATON ART ROOM** ## **COMPANY LIMITED BY GUARANTEE** ## **FINANCIAL STATEMENTS FOR 31 MARCH 2022** **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 2022** |**Contents**|**Page**| |---|---| |Members of the board and professional advisers|**1**| |Trustees’ annual report|**2-5**| |Independent Examiner’s report|**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** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2022** 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 2022. ## **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. This is in accordance with the Charity’s governing document, the Memorandum and Articles of 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: - A community art space located in the Borough of Erewash, with regular accessible creative sessions for all members of the community, providing a safe and inviting environment with equipment and materials for a wide range of creative arts. - Workshops with tuition from practising artists, in our own studio or in community facilities elsewhere in the Borough of Erewash. - An exhibition space for the 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 the 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. 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** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2022** 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 continued to have a major impact for most of the financial year 1 April 2021 to 31 March 2022. The focus of the trustees has been to protect our staff, clients and the artists who rent studio space. 1. Throughout the year the trustees have held regular online meetings. We delayed our Annual General Meeting until November 2021, when we were confident it was safe to hold this in a face-to-face format. 2. Our premises remained closed to the public for much of the year 2021-2022, without any of the regular drop-in sessions, workshops or room rental to other organisations. We deliberately took a very conservative attitude to re-opening due to the vulnerable nature of many of our traditional clients. 3. The layout of our artist’s 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. 4. In the final months of the year, we were able to recommence some of our public-facing activities. To minimise the risk of infection transmission and manage numbers we have moved away from our traditional ‘drop in open studio’ format to focus on pre-booked workshop sessions. We have also restarted room hire to artists who run their own sessions. 5. During the closure period we made use of the ‘flexible furlough’ option of the government Coronavirus Job Support scheme to maintain our staff on full wages but working restricted hours. Our total income for the year from this source was £4,106.78. 6. We received additional government retail, hospitality and leisure sector grants totalling £16,000 (the value of the grants was linked to the rateable value of our premises). We have retained a substantial part of this in our reserves in anticipation that we may face a reduced level of income for a period even after all restrictions were ended. 7. We provided kiln firing services for many local artists both amateur and professional. 8. We received a grant of £2000 from the Derbyshire Community Foundation towards our participation in a project entitled ‘Legacy of Lace’. This enabled us to fund the local artist leading the project to decorate the rendered wall of our factory building with a mural inspired by lace patterns and provide our facilities and staff time to support the project’s community engagement activities with a series of free lace themed talks and workshops. **-3-** ## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2022** 9. We provided our resident artists in our studio spaces with some free access to the use of the community space. This helped kickstart the return of the general public back into the facility and allowed the artists to provide workshops, do large-scale creative activities and generate some much needed income for themselves after such a difficult period. Four of the resident artists used the community space for 3 days to hold a creative exhibition over a weekend with mentoring and support from us to help plan, promote, set up and take down the exhibition. This was hugely successful with good visitor numbers and all the artists sold work. They plan to repeat the event yearly but on a much larger scale, inviting other artists to join in too. 10. In November we held an Open Studios Event for our resident artists to showcase their own work, alongside a Christmas Craft Fair for visiting artists and designer-makers to exhibit and sell their work. 11. Towards the end of the year we were able to recommence our fundraising sales of fabric donated by local businesses. These proved to be as popular as ever and raised over £3,300. ## **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 Registered Charity (no 1136196). The Charity’s governing document is the Memorandum 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 to meet the skills required. -4- LONG EATON ART ROOM COMPAIYY LIMITED BY GUARANfEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2022 Rigk maoagement w•licy The trustees examin¢ ihe major risks that the charity faccs each finanLial year when preparing and updating the straiegic plan. lThe chariry has develO￿d systems to monitor and control ihese risks to mitigate any impact thai they may have on the chariry in the future. Independent Exajniner Mark Newey ACMA of Dcrby Community Ac¢ountan¢y Service was apwinied Independent F.xaminer during the year. Small eompaoy provlsions This report has Eten pr¢pared in accordance with the special provisions for small companies undcr part 15 of the Companies Act 2006. Registered 0￿1cc. Long Eaton Art Room 29-31 Lime Grove Long Eaton Notlingham NCJ104LD Signed on behaifof the truslee5 D. Dakin Truslep Approved by the trustees on 18 Qctsbty J, LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE INDEPLNDENT EXAMINERS REPORT Independent Examiner's Report to tbe Tr￿4tee9 of IA)ng Egion Art Room I report on the accounts of the company for the year ended 31 March 2022 which are set out on pages 7t0 17. Respertii'e reqponsibilities of tfU8ttts gnd examiner The trustees are responsible for the prep&ration of the accounts. The ￿sleeS consider thai an audit is not required for this y¢ar under seciion 144 of ihe Charities Act 2011 (the Charities Act). It is my restK)n5ibility to- examine the accounts under section 145 of the ChDrities Act. follow the procedures laid down in ihe general DirKtions given by ihe Charily Commission (under Scciion 14515)(b} orth¢ Ch8rilies Act) and to state w'heiher particular mallers hake come io my attention. Basis of independent exAmlner's statement My examination was carried out in aCcOrda￿e with general DI[￿lI0n5 given by the Charity Comrnissiun. An examination includes a review of the ac¢ounlin8 records kept by the charity and a Comparison of the aL¢ounls pre.sented with those records. It also includes consideration of any unusual items or disclosures in the accounis, and ¥¢¢king ¢xplanations from yc)U iTUStees concerning any such matters. The pro¢cdur¢s und¢rtak¢n do not pmi'ide all the evidence that would be r¢quired in an audit, and consequently no opinion is gi¥'en as lo whcih¢r th¢ a¢counis present a 'YNe and fair vi¢w' and Ihe report is limi￿d lo tho¥e matlcrs sel out in ihe statement below. Independenl examlner's statement In cunneLtion with m) ¢xaminalii)n. no matter has come io my artenrion: Which giv¢s mc rcasonabl¢ causc io bclicve ihaL in any material respeci rcquirL'men15 10 keep aLcounting records in accordance w'Tth section 386 ofthe Companies Act 2006. aiid lo prepare a¢counL$ which ac¢ord with the ￿￿ountIng rLYords, comply with ihe accounting r¢quircmenis of section J96 of ihe Cvmpani¢s Act 2006 and with the mdhods and principles or the Statement of Recommcndd Pracli¥¥: Ac¢ouDIiII8 and Reporting by Charilies hav¢ not been mel, or to which, in my opinion. allenlion should be drawn in order to enable 8 proper underslanding or the accounts to be rrached. Namc: Mark Newey Address.. Derby Ccmnmunity Accoun(a￿Y Service, 128 Gr¢¢n IAne: Derby. DEI IRY Date . **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDED 31 MARCH 2022** |||||**Total Funds**|Total Funds| |---|---|---|---|---|---| |||**Unrestricted**|**Restricted**|**Year to 31**|Year to 31| |||**Funds**|**Funds**|**Mar 2022**|Mar 2021| ||**Note**|
**£**|**£**|£|£| |**Income from**|||||| |Donations|**3**|**727**|**6,000**|**6,727**|2,534| |Investment income|**5**|**233**|**-**|**233**|205| |Grants receivable|**4**|**16,000**|**6,107**|**22,107**|40,359| |Other income|**6**|**35,995**
|**1,500**
|**37,495**
|18,671
| |**Total incoming resources**||**52,955**
|**13,607**
|**66,562**
|61,769
| |**Expenditure on**|||||| |Raising funds||**583**|**-**|**583**|212| |**Charitable activities**||**38,717**
|**20,077**
|**58,794**
|51,278
| |**Total resources expended**|**7**|**39,300**
|**20,077**
|**59,377**
|51,490
| |**Net incoming/(outgoing)**|||||| |**resources before transfers**||**13,655**|**(6,470)**|**7,185**|10,279| |Transfer between funds||**-**
|**-**
|**-**
|-
| |**Net movement in funds**||**13,655**|**(6,470)**|**7,185**|10,279| |Funds brought forward||**30,363**
|**243,283**
|**273,646**
|263,367
| |**Funds carried forward**||**44,018**
|**236,813**
|**280,831**
|273,646
| 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 GUAIL4NTEE BALANCE SHEET 31 MARCH 2022 2022 2021 Note Fixed assets Tangible assets JJ 233.475 238.433 Current 8s$ets Debtors Cash at bank and in hand Stock and work in progress 12 485 48,162 lJ50 245 .16,492 1,970 50,497 38.707 Creditors: amounts falling due Ivithin one year 13 3.141 3,494 Net current aysets 47J56 35,213 Total assets leJ$ ¢urrent li#biliti¢s 280J31 273.fA6 Net *8sets 280331 273.646 Funds Restrict Unrestricted 14 14 236013 44.018 243,283 30,363 TOTAL FUNDS 280,831 273,646 For the year ended 31 March 2022 the COrnFAny wa5 enliiled th exemption from audit under scclion 477 of the Companics Act 2006 relating lo small companies. Directors responsibiliti¢s: {1) The members have not required the wmpany lo obtain an audit of its accounts (or the year in question in aecordance wlth section 476. and {ii) The directors acknowledge their rcsponsibililies for complying wilh ihc r¢quir¢m¢nts of the Act with respect to a￿OuntIng reLords and Lhe preparation of accounts. These financial statementg have been wepared in accordance w'ith ihe special provisions for small ¢ompllnies under Part 15 of the Companies Act 2006. These financial statement5 were approved and auth0ri5¢d for issue by the Trustees on the 27, ber 2022 and are signed on their behalf b).: D. Dakin Trustee C.OTnpany Registrnlion Number: 07148936 The notes on pages 9 10 17 fonn Pydrt of these fiDan¢ial statemen **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2022** ## **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 company’s registered 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** These accounts have been prepared in accordance with FRS 102, “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended 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 2022 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 2022** ## **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**_ Financial liabilities are derecognised when the company’s contractual 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 employee’s services are received. 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 2022** ## **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** - In the application of the charity’s accounting policies, the directors are 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 2022**|Mar 2021| ||**£**|**£**|**£**|£| |Donations from individuals|**727**
|**6,000**
|**6,727**
|2,534
| ||**727**
|**6,000**
|**6,727**
|2,534
| ## **4 Grants Receivable** ||||**Total Funds**|Total Funds| |---|---|---|---|---| ||**Unrestricted**|**Restricted**|
**Year to 31**|Year to 31| ||**Funds**|**Funds**|
**Mar 2022**|Mar 2021| ||**£**|**£**|**£**|£| |Erewash Voluntary Action|**-**|**-**|
**-**|1,000| |Co-Op Community Fund|**-**|**-**|
**-**|2,770| |HM revenue and Customs|**-**|**4,107**|
**4,107**|11,589| |Erewash Borough Council|**16,000**|**-**|
**16,000**|25,000| |Foundation Derbyshire|**-**
|**2,000**
|
**2,000**
|-
| ||**16,000**
|**6,107**
|
**22,107**
|40,359
| **-11-** ## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2022** |**5.**|**Interest receivable (unrestricted)**||| |---|---|---|---| |||**Year to 31**|Year to 31| |||**Mar 2022**|Mar 2021| |||**£**|£| ||Bank interest receivable|**233**
|205
| |**6.**|**Other income**||| |||**Year to 31**|Year to 31| |||**Mar 2022**|Mar 2021| |||**£**|£| ||Open studio membership|**258**|178| ||Kiln firing and other services|**729**|540| ||Workshops|**582**|-| ||Artist studio rental|**27,462**|16,222| ||Materials for studio use|**951**|140| ||Outsourcing|**-**|-| ||Other charitable services|**190**|-| ||Room hire|**2,464**|-| ||Fundraising sales|**3,359**|-| ||Tuck shop sales|**-**|54| ||Gift Aid|**1,500**
|1,537
| |||**37,495**
|18,671
| **-12-** **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2022** ## **7. Total resources expended** |Rent and rates
Depreciation
Building maintenance
Utilities
Consumables
Food
Goods for resale
Publicity
Studio, equipment and repairs
Artist Fees
Professional fees
Travel
Staff wages
Insurance
Subscriptions
Training
Bad debts written off|**Total Funds**
**Year to 31**
**Mar 2022**
**£**
**503**
**4,958**
**9,257**
**4,747**
**847**
**200**
**583**
**479**
**1,430**
**16,627**
**649**
**186**
**16,860**
**2,051**
**-**
**-**
**-**

**59,377**
|Total Funds
Year to 31
Mar 2021
£
-
5,177
-
9,287
997
-
212
-
3,914
10,600
569
227
18,444
1,980
33
-
50

51,490
| |---|---|---| Expenditure on charitable activities was £58,794 (2021: £51,278) of which £20,077 was restricted (2021 £20,168) ## **8. Net (expenditure)/income** Net (expenditure)/income for the year is stated after charging/(crediting): ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |Independent Examiner’s Fees|**520**|500| |Depreciation|**4,958**|5,177| ||===========================|**================================**| ## **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 2022** ## **10. Employees** **The aggregate payroll costs were:** |**The aggregate payroll costs were:**|||| |---|---|---|---| ||**Year to 31**|Year to 31|Mar| ||**Mar 2022**|2021|| ||**£**||£| |Wages and salaries|**16,860**|18,444|| |Social security costs|**-**||-| |Pension costs|**-**
||-
| ||**16,860**
|18,444
|| 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
Governance|**Year to**
**31 Mar**
**2022**
**No**
**3**
**-**

**3**
|Year to
31 Mar
2021
No
3
-

3
| |---|---|---| **-14-** **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2022** ## **11. Tangible fixed assets** |**Cost**
At 31 March 2021
Additions
**At 31 March 2022**
**Depreciation**
At 31 March 2021
Charge for the year
**At 31 March 2022**
**Net book value**
**At 31 March 2022**
At 31 March 2021|**Building**
**Fixtures,**
**fittings &**
**Equipment**
**Artworks**
**Total**
**£**
**£**
**£**
**£**
**283,916**
**5,575**
**2,065**
**291,556**
**-**
**-**
**-**
**-**| |---|---| ||**283,916**
**5,575**
**2,065**
**291,556**| ||**48,285**
**4,838**
**-**
**53,123**
**4,713**
**245**
**-**
**4,958**| ||**52,998**
**5,083**
**-**
**58,081**| ||**230,918**
**492**
**2,065**
**233,475**| ||235,631
737
2,065
238,433| ## **12. Debtors** |Other Debtors
**Creditors:** **Amounts falling due within one year**
Artist studio deposits
Trade creditors
Total Creditors|**2022**
£
485

485

**2022**
**£**
**2,576**
**565**
--------------------------------
**3,141**
--------------------------------|2021
£
245

245

2021
£
2,561
933
--------------------------------
3,494
--------------------------------| |---|---|---| ## **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 2022** ## **14. Statement of funds** |
**Unrestricted reserves**
**Total unrestricted funds**
Buildings
HM Revenue and Customs
Foundation Derbyshire
**Total restricted funds**
**Total funds**|**At**
**1 April**
**2021 Incoming**
**Outgoing**
**Transfers**
**£**
**£**
**£**
**£**
**30,363**
**52,955**
**(39,300)**
**-**




**30,363**
**52,955**
**(39,300)**
**-**
**243,283**
**7,500**
**(13,970)**
**-**
**-**
**4,107**
**(4,107)**
**-**
**-**
**2,000**
**(2,000)**
**-**




**243,283**
**13,607**
**(20,077)**
**-**




**273,646**
**66,562**
**(59,377)**
**-**



|**At**
**31March**
**2022**
**£**
**44,018**

**44,018**
**236,813**
**-**
**-**

**236,813**

**280,831**
| |---|---|---| ## **Restricted Funds** The Building fund represented the value of the building yet to be depreciated and future expenditure. HM Revenue and Customs Job Retention Scheme contributed to the furlough wage payments. The Foundation Derbyshire grant was spent on artists fees **-16-** **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2022** ## **15 Analysis of net assets** |**Tangible**
**fixed assets**
**Other**
**net assets**
**£**
**£**
**Unrestricted funds**
2,557
41,461
**Restricted funds**
Building Project
230,918
5,895


233,475
47,356

|**Total**
**£**
44,018
236,813
| |---|---| ||280,831
| ## **16. Related party transactions** The charity had no related party transactions that required disclosure. **-17-**