## **LONG EATON ART ROOM** ## **COMPANY LIMITED BY GUARANTEE** ## **FINANCIAL STATEMENTS FOR 31 MARCH 2024** **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 2024** |**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|**9-16**| ## **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 2024** 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 2024. ## **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. ## **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. ## **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 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. **-2-** **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2024** - 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. 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 financial year 1 April 2023 to 31 March 2024 has been very successful in terms of our activities with increasing attendance at our own workshops and at events organised by artists who hire our facilities, but it has been a challenging year financially. 1. We have been significantly impacted by a further increase in energy costs, with total spend on utilities up 70% on the previous year. At £17,750, utilities made up 27% of our operating expenditure. We received a small ‘cost of living’ grant of £250 from Erewash Borough Council via Erewash CVS but the majority of the additional cost has had to come from our reserves. At the end of the year we were able to negotiate new contracts for electricity and gas so we hope for a significant saving in the next financial year. 2. We also incurred expenditure of £5930 on building repairs and improvements, but fortunately some of this was funded by generous gift aided donations. **-3-** ## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 MARCH 2024** 3. We continue to benefit from the Co-Operative Community Fund who again selected us as one of the organisations from members’ expenditure at local stores, with £2621 received in the year. 4. Our fabric sales of materials donated by local businesses continue to be popular and raised a total of £3661 this year. 5. We maintained a high level of occupancy of our artists studios. Whenever we have a vacancy there are always multiple applicants to take up the space which demonstrates the value of our facility for the local artistic community. 6. We have continued to grow and develop our focus on pre-booked workshop sessions. These have continued to be successful. We now run regular coffee and crafts workshops at reduced subsidised rates with a focus on creative crafts to reduce isolation and improve wellbeing. There are also monthly evening creative sessions at subsidised rates. 7. The subsidised room hire to artists who run their own sessions has increased again over the year. Providing facilities for regular evening classes and day workshops in a wide range of media, including water colours, ceramics, knitting, papercrafts, card making, collage, printing, gelli printing, felting, textiles, punch needle embroidery, glass fusing, life drawing, stained glass, pastels, sewing and more. Regular users include the East Midland Polymer Art group and many local artists. 8. We organised creative activity workshops for children and young people during school holidays. 9. In May we worked with resident artist Minifi to host the Unravelled Artisan Market again. This was a busy, well organised, well promoted and well attended exhibition with a wide variety of local artists and makers having the opportunity to showcase their work. 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. This was our best show to date, with large visitor numbers, great feedback and generous sales figures reported from traders and artists. 11. In December former resident artist Minifi held a Creepy Christmas Arts Market here in the community rooms. This was a resounding success with very large numbers of visitors running over a full weekend. This reached a large number of people who had previously not visited. She has since gone on to run more of these events in other venues across the surrounding areas. We look forward to hosting more of these again here in the future too. 12. We worked alongside resident artist David William Sampson to support him in his ceramics show under the banner “Toasted”.He is expanding on this success and intends to hold multiple shows in the future both here and at Derby Museums. We look forward to having the Toasted show return here in December this year. **-4-** LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 13. Other services that we provide for local artists both amateur and professional include kiln firing for ceramics and retail sales of arts and craft malerials. 14. Taking into account our creative sessions. workshops, special events and hire of our spaces to other organisations, we eslimate there haiie been approximately 8373 attendances to our facilities this year, the majority ot"which involve active participation in art or craft aciivilies. This is a staggering 50 % increase on lasi years numbers and rellects the hard work and dedication of our staff and volunieers. Reserves The reserves policy is to aim to maintain a cash reserve of a minimum of 3 months typical expenditure (currently £30001month). Independent Examiner Mark Newey ACMA of Derby Community Accountancy Service was appointed Independent Examiner for the year. SMAII 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 NG104LD Signed on behalf of the trustees D. Dakin Trustee Approved by the trustees on I" October 2024 LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINERS REPORT Independent Examiner's Report lo the Trustee5 of Long Eaton Art Room I report on the accounts of the company for the year ended 31 March 2024 which are set out on pages 7t0 16. Respective responsibilities of trustees and examiner The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not Tequired for this year undcr section 144 of th¢ Charities Act 2011 (Ihe Charities ALt). It is my responsibility to: examine the accounts under section 145 of the Charities Act: follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5Kb) of the Charities Act) and to state whether particular matters have come to my attention. Basis of independent examiner's statement My examinalion was carried out in a¢cordance with 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 th¢ accounts, and s¢¢king explanations from you as trustees ¢onc¢rning any such matters. The procedures undertaken do not provide all the evidenc¢ that would be required in an audit. and consequently no opinion is given as to whether the accounts present a "Irue and fair view" and lh¢ ￿pOrt is limited to thos¢ matters set out in the statement below. Independenl examiner's statement In Connection with my examination, no matter has come to my attention., Which gives m¢ reasonable cause to believe that, in any malerial respect, the r¢quir¢ments to keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requircments of section 396 of the Companies Act 2006 and with th¢ methods and principles of the Statement of Recommended Practice., Accounting and Reporting by Charities hav¢ not b¢¢n met. or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Mark Newey Address: tkrby Community Accountancy Service, 128 Gr¢en Lan¢, Derby, DE I I RY Date . 819 I*LI ## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDED 31 MARCH 2024** |||||**Total Funds**|Total Funds| |---|---|---|---|---|---| |||**Unrestricted**|**Restricted**|**Year to 31**|Year to 31| |||**Funds**|**Funds**|**Mar 2024**|Mar 2023| ||**Note**|
**£**|**£**|£|£| |**Income from**|||||| |Donations|**3**|**281**|**2,500**|**2,781**|5,269| |Investment income|**5**|**779**|**-**|**779**|444| |Grants receivable|**4**|**2,872**|**-**|**2,872**|500| |Other income|**6**|**55,353**
|**625**
|**55,978**
|51,462
| |**Total incoming resources**||**59,285**
|**3,125**
|**62,410**
|57,675
| |**Expenditure on**|||||| |Raising funds||**1,275**|**-**|**1,275**|1,247| |**Charitable activities**||**64,477**
|**10,456**
|**74,933**
|63,081
| |**Total resources expended**|**7**|**65,752**
|**10,456**
|**76,208**
|64,328
| |**Net incoming/(outgoing)**|||||| |**resources before transfers**||**(6,467)**|**(7,331)**|**(13,798)**|(6,653)| |Transfer between funds||**(35)**
|**35**
|**-**
|-
| |**Net movement in funds**||**(6,502)**|**(7,296)**|**(13,798)**|(6,653)| |Funds brought forward||**45,108**
|**229,070**
|**274,178**
|280,831
| |**Funds carried forward**||**38,606**
|**221,774**
|**260,380**
|274,178
| 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 16 form part of these financial statements** **-7-** LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE BALANCE SHEET 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 224.520 228.693 Current assets Debtors Cash at bank and in hand Stock and work in progress 12 994 36,811 1,234 540 51.439 1.319 39,039 53,298 Creditors: amounts falling due within one year 13 3,179 7,813 Nel current assets 35,860 45,485 Total assets less current liabilities 260J80 274,178 Net assets 260J80 274,178 Funds Restricted Unrestricted 14 14 221,774 38,606 229.070 45.108 TOTAL FUNDS 260,380 274.178 For the y¢ar ended 31 March 2024 the coinpany was enliiled to exemption from audit under section 477 of the Companies Act 2006 relaling to small companies. Direclors responsibil ilies: (i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. and (li) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and ihe preparation ofaccounts. These financial stalements have b¢en prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. These financial statemenls were approved and authorised for issu¢ by the Trustees on the I October 2024 and are signed on their behalf by: D. Dakin Trustee Company Registration Number: 07148936 The notes on page5 9 to 16 form part of these financial statements. **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2024** ## **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 applies 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 2024 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 2024** ## **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 2024** ## **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 2024**|Mar 2023| ||**£**|**£**|**£**|£| |Donations from individuals|**281**
|**2,500**
|**2,781**
|5,269
| ||**281**
|**2,500**
|**2,781**
|5,269
| ## **4 Grants Receivable** ||||**Total Funds**|Total Funds| |---|---|---|---|---| ||**Unrestricted**|**Restricted**|
**Year to 31**|Year to 31| ||**Funds**|**Funds**|
**Mar 2024**|Mar 2023| ||**£**|**£**|**£**|£| |Erewash Voluntary Action|**250**|**-**|
**250**|500| |Co-Operative Community Grant|**2,622**
|**-**
|
**2,622**
|-
| ||**2,872**
|**-**
|
**2,872**
|500
| **-11-** ## **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2024** ## **5. Interest receivable (unrestricted)** |**5.**|**Interest receivable (unrestricted)**||| |---|---|---|---| |||**Year to 31**|Year to 31| |||**Mar 2024**|Mar 2023| |||**£**|£| ||Bank interest receivable|**779**
|444
| |**6.**|**Other income**||| |||**Year to 31**|Year to 31| |||**Mar 2024**|Mar 2023| |||**£**|£| ||Open studio fees|**430**|689| ||Kiln firing and other services|**1,983**|1,523| ||Workshops|**5,847**|3,525| ||Artist studio rental|**29,784**|30,344| ||Materials for studio use|**1,575**|1,052| ||Other charitable services|**-**|18| ||Room hire|**11,946**|8,040| ||Fundraising sales|**3,662**|5,701| ||Tuck shop sales|**126**|151| ||Gift Aid|**625**
|419
| |||**55,978**
|51,462
| **-12-** **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2024** ## **7. Total resources expended** |**Total resources expended**|||||| |---|---|---|---|---|---| |||**Total Funds**|**Year to 31**
**Mar 2024**|Total Funds|Year to 31
Mar 2023| ||||**£**||£| |Rent and rates|||**467**||985| |Depreciation|||**4,866**||4,782| |Building maintenance|||**5,931**||3,125| |Utilities||**17,750**||
10,622|| |Consumables|||**1,148**||903| |Food|||**297**||275| |Goods for resale|||**1,275**||1,247| |Publicity|||**228**||308| |Studio, equipment and repairs|||**2,469**||2,267| |Artist Fees||**22,492**||
21,840|| |Professional fees|||**590**||642| |Staff wages||**16,639**||
15,216|| |Insurance|||**2,056**||2,056| |Subscriptions|||**-**
|
|60
| |||**76,208**
||
64,328
|| |Expenditure on charitable activities was £74,933|(2023: £63,081) of which|||£10,456 was|| |restricted (2023 £7,743)|||||| |**Net (expenditure)/income**|||||| |Net (expenditure)/income for the year is stated after charging/(crediting):|||||| ||||**2024**||**2023**| ||||**£**||**£**| |Independent Examiner’s Fees|||**530**||520| |Depreciation||**4,866**|||4,782| |||===========================||**================================**|| Expenditure on charitable activities was £74,933 (2023: £63,081) of which £10,456 was restricted (2023 £7,743) ## **8. Net (expenditure)/income** ## **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 2024** ## **10. Employees** **The aggregate payroll costs were:** |**The aggregate payroll costs were:**|||| |---|---|---|---| ||**Year to 31**|Year to 31|Mar| ||**Mar 2024**|2023|| ||**£**||£| |Wages and salaries|**16,584**|15,203|| |Social security costs|**-**||-| |Pension costs|**55**
||13
| ||**16,639**
|15,216
|| 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**
**2024**
**No**
**2**
**-**

**2**
|Year to
31 Mar
2023
No
3
-

3
| |---|---|---| **-14-** **LONG EATON ART ROOM COMPANY LIMITED BY GUARANTEE** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 MARCH 2024** ## **11. Tangible fixed assets** |**Cost**
At 31 March 2023
Additions
**At 31 March 2024**
**Depreciation**
At 31 March 2023
Charge for the year
**At 31 March 2024**
**Net book value**
**At 31 March 2024**
At 31 March 2023
**2.** **Debtors**
Other Debtors
**3. Creditors:** **Amounts**
Artist studio deposits
Trade creditors
Total Creditors|**Building**
**Fixtures,**
**fittings &**
**Equipment**
**Artworks**
**Total**
**£**
**£**
**£**
**£**
**283,916**
**5,575**
**2,065**
**291,556**
**-**
**693**
**-**
**693**
**283,916**
**6,268**
**2,065**
**292,249**
**57,616**
**5,247**
**-**
**62,863**
**4,526**
**340**
**-**
**4,866**
**62,142**
**5,587**
**-**
**67,729**
**221,774**
**681**
**2,065**
**224,520**
226,300
328
2,065
226,993
**2024**
£
994

994

**falling due within one year**
**2024**
**£**
**2,380**
**799**
--------------------------------
**3,179**
--------------------------------|2023
£
540

540

2023
£
2,296
5,517
--------------------------------
7,813
--------------------------------| |---|---|---| ||**283,916**
**6,268**|| ||**57,616**
**5,247**
**4,526**
**340**|| ||**62,142**
**5,587**|| ||**221,774**
**681**|| ||226,300
328
**falling due within one year**|| ## **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 2024** ## **14. Statement of funds** |
**Unrestricted reserves**
**Total unrestricted funds**
Buildings
**Total restricted funds**
**Total funds**|**At**
**1 April**
**2023 Incoming**
**Outgoing**
**Transfers**
**£**
**£**
**£**
**£**
**45,108**
**59,285**
**(65,752)**
**(35)**




**45,108**
**59,285**
**(65,752)**
**(35)**
**229,070**
**3,125**
**(10,456)**
**35**




**229,070**
**3,125**
**(10,456)**
**35**




**274,178**
**62,410**
**(76,208)**
**-**



|**At**
**31March**
**2024**
**£**
**38,606**

**38,606**
**221,774**

**221,774**

**260,380**
| |---|---|---| ## **Restricted Funds** The Building fund represented the value of the building yet to be depreciated and future expenditure. ## **15 Analysis of net assets** |**Tangible**
**fixed assets**
**Other**
**net assets**
**£**
**£**
**Unrestricted funds**
2,746
35,860
**Restricted funds**
Building Project
221,774
-


224,520
35,860

|**Total**
**£**
38,606
221,774

260,684
| |---|---| ## **16. Related party transactions** The charity had no related party transactions that required disclosure. **-16-**