Company registration number: 07321829 Charity registration number: 1141002
New Light (North of England)
(A company limited by guarantee)
Annual Report and Financial Statements for the Year Ended 31 December 2022
HPH Chartered Accountants 54 Bootham YORK YO30 7XZ
New Light (North of England)
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 to 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 19 |
New Light (North of England)
Reference and Administrative Details
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: A. L. Petchey E. T. Cartwright I. A. Charlton P. Johnson (appointed 16 September 2022) Senior Management / P. Hartley Leadership Team R. Tadd, Development Director Registered Office 54 Bootham YORK YO30 7XZ Company Registration Number 07321829 Charity Registration Number 1141002 Independent Examiner A. C. Rodaway, FCA, DChA HPH Chartered Accountants 54 Bootham YORK YO30 7XZ
Page 1
New Light (North of England)
Trustees' Report For the Period Ended 31 December 2022
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2022.
Background
Established in 2010, New Light (North of England) (known as New Light) celebrates and promotes Northern Art, supporting both well-known and emerging artists by offering some of the region’s best awards and opportunities with the biennial New Light Prize Exhibition.
Objectives and activities
Objects and aims
The Charity's objects are restricted specifically, only for the public benefit to:
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To advance the education of the public in the subject of modern art;
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To promote art for the benefit and education of the public by the establishment of a series of exhibitions open to entries from aspiring young artists in the North of England;
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To advance in life young between the ages of twenty three and thirty five by developing their artistic skills and capabilities by:
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a. Placement of their work in galleries;
b. The awarding of a grant to at least one artist from each exhibition to allow them to progress as an artist.
The Board is in the process of amending the charitable objects of the Charity by special resolution to remove the upper age limit stated. This change will be updated with Companies House and the Charity Commission.
Staff and the use of volunteers
New Light continued to be strongly supported by a small group of volunteers, without whom we would struggle to achieve our goals. These include our board of trustees, which has been strengthened with the addition of Dr. Phyl Johnson.
We also retained its two wonderful permanent members of staff: Rebekah Tadd and Penny Hartley-Mathers. Penny is part-time but continues to give her time generously, in addition to her paid work for New Light. We are very grateful to them both.
We also sometimes use the services of contractors to support New Light for specialist activity such as digital marketing.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
New Light (North of England)
Trustees' Report For the Period Ended 31 December 2022
Achievements and performance
Prize Exhibition:
2022 was a year of preparation, ahead of our next Prize Exhibition round in 2023. This involved sourcing judges, galleries, sponsors of prizes and suppliers all of which were sourced successfully, plus the building of a new website that will strengthen our security, allow us to sell works online and make the Prize Exhibition entry journey better for artists.
The 2023/24 Prize Exhibition will be shown in 5 venues across 4 northern counties, and London.
The trustees also decided to include Cheshire in our eligibility definition of “northern”. Full eligibility details are available of our website.
The Collection:
Following the successful launch of the New Light Collection in 2021, two Yorkshire-based hospital trusts have borrowed works and exhibited them for the benefit of the patients, families and staff. There are several venues that would like to borrow works: we are constrained by a lack of funds to be able to dedicate to making this outstanding collection of northern art available to the public.
Two important items were added to The Collection: the trustees desired a portrait of our patron Valeria Sykes in The Collection, in recognition of her support which has been with us from the genus of New Light. Valeria very kindly paid for this herself and gifted it to New Light. The portrait was commissioned from Mark Demsteader, one of the foremost contemporary portraitists.
Mark has been a supporter of New Light for several years; he kindly donated an additional painting to The Collection, which now boasts two Demsteader works (one is on long-term loan to The Collection), plus Valeria’s portrait.
We are very grateful to our patron, Valeria Sykes, for her continued financial support.
Other:
We held a New Light retrospective at Saul Hay Gallery in Manchester. All previous Prize winners were invited to exhibit, and the majority accepted. It was a pleasure to see so many again, and to hear how their careers had developed. The “New Light experience” was expressed in very positive terms by the artists.
New Light hosted its first on-line Print Fair as a fund-raising initiative. This had some success and will be considered again for the future.
Financial review
The total funds held by the Charitable Company are £124,952 (2021 - £151,077), of which £nil (2021 - £nil) are restricted. £60,000 (2021 - £60,000) are held in as designated funds which will only be realised on the disposal of fixed assets. Therefore, free reserves are £64,952 (2021 - £91,077).
Page 3
New Light (North of England)
Trustees' Report For the Period Ended 31 December 2022
Policy on reserves
There is currently no reserves policy as exhibitions are held on a project by project basis. The trustees will meet to agree the target levels of reserves. The Reserves policy will then be reviewed regularly to ensure that the level of reserves is appropriate and takes into account any risks the charity has e.g. decrease in funding, and any legal or contractual obligations the charity would have to meet should it need to close e.g. redundancy pay. A dedicated fundraiser is to be recruited to help build reserves and increase the resilience of the charity.
Plans for future periods
Plans for the 2023/24 Prize Exhibition have now been finalised, launching at The Williamson Art Gallery and Museum, Birkenhead in September. The five gallery tour is our longest yet with a return to some popular venues from previous exhibitions and some very exciting additions.
The ‘Art for All’ programme is being devised in collaboration with our host galleries. Current plans at the launch gallery include a workshop by Josie Jenkins on Interior painting and a talk by Art Historian, Sara Riccardi.
The New Light Collection is available to loan to public spaces, it is currently on loan to York Hospital for six months, before travelling to Scarborough Hospital for the remainder of the year. We are working closely with the ‘Art in Hospitals’ team to extend this provision. Eight pieces of artwork are also on loan to The Retreat, York, a mental health charity.
In order to continue with our development programme we are recruiting a Trustee with experience of fundraising in the charity sector. We have secured additional funds from our patron to recruit a fundraiser to focus on raising funds, build reserves to enable New Light to be more self reliant.
Going concern
The Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. They continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Structure, governance and management
Nature of governing document
The organisation is a Charitable Company limited by guarantee, company number 07321829, incorporated on 21 July 2010 and registered as a charity on 17 March 2011, charity number 1141002. The Governing document of the Charitable Company is the Memorandum and Articles of Association dated 25 February 2011.
Recruitment and appointment of trustees
The Board conducts a continuous process of identifying potential new Trustees whom they believe should be considered for Board membership. Application for membership of the Board is by way of letter and CV, interview with the Chair and another Trustee plus the Development Director.
Page 4
New Light (North of England)
Trustees' Report For the Period Ended 31 December 2022
Induction and training of trustees
Newly-appointed Trustees are sent full background information about the Charitable Company.
Organisational structure
The day-to-day management of the Charitable Company is delegated to the Development Director. The Development Director meets regularly (on a virtual basis) to discuss day-to-day matters concerning the operation of the Charitable Company.
Major risks and management of those risks
To date, risks have been managed in line with ad hoc referral to Trustees. This process will also be reviewed as new Trustees are recruited.
Statement of trustees' responsibilities
Company law requires the trustees to prepare financial statements for each financial year. 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material
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departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that
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the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show andexplain 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.
Disclosure of information to Independent Examiner
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant information and to establish that the charity's Independent Examiner is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the Independent Examiner is unaware.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Page 5
New Light (North of England)
Trustees' Report For the Period Ended 31 December 2022
The annual report was approved by the trustees of the charity on 13 September 2023 and signed on its behalf by:
......................................... A. L. Petchey Trustee
Page 6
New Light (North of England)
Independent Examiner's Report to the trustees of New Light (North of England) ('the Company')
I report to the charity trustees on my examination of the accounts of the charity for the period ended 31 December 2022 which are set out on pages 9 to 19.
This report is made solely to the Charitable Company’s Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the Charitable Company’s Trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the Charitable Company’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Company’s Members as a body and the Charitable Company’s Trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of New Light (North of England) as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 7
New Light (North of England)
Independent Examiner's Report to the trustees of New Light (North of England) ('the Company')
...................................... A. C. Rodaway, FCA, DChA HPH Chartered Accountants
54 Bootham YORK YO30 7XZ
13 September 2023
Page 8
New Light (North of England)
Statement of Financial Activities for the Year Ended 31 December 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 5 Other income Total income Expenditure on: Charitable activities 6 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted £ 50,000 2,103 120 - 52,223 (78,347) (78,347) (26,124) (26,124) 151,076 124,952 |
Total Year ended 2022 £ 50,000 2,103 120 - 52,223 (78,347) (78,347) (26,124) (26,124) 151,076 124,952 |
Total 2021 £ 100,558 46,927 328 1,144 |
|---|---|---|---|
| 148,957 | |||
| (143,446) | |||
| (143,446) | |||
| 5,511 | |||
| 5,511 145,566 |
|||
| 151,077 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 18.
The notes on pages 11 to 19 form an integral part of these financial statements. Page 9
New Light (North of England)
(Registration number: 07321829) Balance Sheet as at 31 December 2022
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: Amounts falling due within one year 13 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 15 |
2022 £ 60,000 2,413 66,742 69,155 (4,203) 64,952 124,952 124,952 124,952 |
2021 £ 60,000 1,692 92,534 |
|---|---|---|
| 94,226 (3,149) |
||
| 91,077 | ||
| 151,077 | ||
| 151,077 | ||
| 151,077 |
For the financial year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have 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.
The financial statements on pages 9 to 19 were approved by the trustees, and authorised for issue on 13 September 2023 and signed on their behalf by:
.........................................
A. L. Petchey Trustee
The notes on pages 11 to 19 form an integral part of these financial statements. Page 10
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
The address of its registered office is: 54 Bootham YORK YO30 7XZ
These financial statements were authorised for issue by the trustees on 13 September 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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 Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
New Light (North of England) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
Although the COVID-19 pandemic has affected the activities the charity is able to carry out, the trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 11
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £1,000.00 or more are initially recorded at cost.
Page 12
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
Depreciation and amortisation
Depreciation is calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives.
There is no depreciation for Artwork, as required by FRS 102, as these assets are expected to increase in value. The Trustees have departed from FRS 102 to achieve fair presentation and have concluded the accounts present a true and fair view.
Asset class
Artwork
Depreciation method and rate No depreciation
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Page 13
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3 Income from donations and legacies
| Donations | Unrestricted General £ 50,000 50,000 |
Total Year ended 2022 £ 50,000 50,000 |
Total 2021 £ 100,558 |
|---|---|---|---|
| 100,558 |
The Charitable Company also benefits greatly from the involvement and enthusiastic support of its many volunteers. More details of the important role volunteers play is given in our annual report. In accordance with Charities SORP, the economic contribution of general volunteers is not recognised in the accounts.
4 Income from charitable activities
| Sale of goods and services 5 Investment income Interest receivable on bank deposits |
Unrestricted General £ 2,103 Unrestricted General £ 120 |
Total Year ended 2022 £ 2,103 Total Year ended 2022 £ 120 |
Total 2021 £ 46,927 |
|---|---|---|---|
| Total 2021 £ 328 |
Page 14
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
6 Expenditure on charitable activities
| 6 Expenditure on charitable activities |
|||
|---|---|---|---|
| Note Workshop costs Exhibitions Printing, postage and stationery Artist commission Gallery commission Staff costs Allocated support costs 7 Insurance costs |
Unrestricted General £ 2,030 2,101 32 1,484 - 54,398 16,135 2,167 78,347 |
Total Year ended 2022 £ 2,030 2,101 32 1,484 - 54,398 16,135 2,167 78,347 |
Total 2021 £ 4,087 21,003 104 35,491 17,783 52,155 10,944 1,879 |
| 143,446 |
7 Support Costs
| 7 Support Costs |
|||
|---|---|---|---|
| Trustee expenses Office expenses Website and IT Accountancy fees Independent examiner's fee Bank charges Bank interest payable |
Unrestricted General £ 245 470 10,670 4,264 400 86 - 16,135 |
Total Year ended 2022 £ 245 470 10,670 4,264 400 86 - 16,135 |
Total 2021 £ 107 1,800 4,462 4,104 370 96 5 |
| 10,944 |
Page 15
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
8 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Expenses were paid in respect of 1 (2021 - 1) Trustee for travel and subsistence for the amount of £245.48 (2021 - £107.10).
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
9 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2022 £ 52,635 576 1,187 54,398 |
2021 £ 50,220 969 966 |
| 52,155 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Employees | 2022 No 2 |
2021 No 2 |
|---|---|---|
There were no employees with emoluments above £60,000 in the year. The total employee benefits of the key management personnel of the charity were £54,398 (2021 - £48,320).
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 16
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
| 11 Tangible fixed assets Cost At 1 January 2022 At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 12 Debtors Prepayments Other debtors 13 Creditors: amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals |
Artwork £ 60,000 |
Total £ 60,000 60,000 60,000 60,000 2021 £ 1,332 360 |
||
|---|---|---|---|---|
| 60,000 | ||||
| 60,000 | ||||
| 60,000 | ||||
| 2022 £ 2,323 90 2,413 2022 £ 404 662 219 2,918 4,203 |
||||
| 1,692 | ||||
| 2021 £ - 659 204 2,286 |
||||
| 3,149 |
14 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1,187 (2021 - £966).
Page 17
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
15 Funds
| 15 Funds | ||||
|---|---|---|---|---|
| Unrestricted General Designated - Artwork for Exhibitions Total funds Unrestricted General Designated - Artwork for Exhibitions Total funds |
Balance at 1 January 2022 £ 91,076 60,000 151,076 Balance at 1 January 2021 £ 85,566 60,000 145,566 |
Incoming resources £ 52,223 - 52,223 Incoming resources £ 148,957 - 148,957 |
Resources expended £ (78,347) - (78,347) Resources expended £ (143,446) - (143,446) |
Balance at 31 December 2022 £ 64,952 60,000 |
| 124,952 | ||||
| Balance at 31 December 2021 £ 91,077 60,000 |
||||
| 151,077 |
16 Analysis of net assets between funds
| 2022 Tangible fixed assets Current assets Current liabilities Total net assets 2021 Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted General £ Designated £ - 60,000 69,155 - (4,203) - 64,952 60,000 Unrestricted General £ Designated £ - 60,000 94,226 - (3,149) - 91,077 60,000 |
Total funds £ 60,000 69,155 (4,203) |
|---|---|---|
| 124,952 | ||
| Total funds £ 60,000 94,226 (3,149) |
||
| 151,077 |
Page 18
New Light (North of England)
Notes to the Financial Statements for the Year Ended 31 December 2022
17 Related party transactions
There were no related party transactions in the year.
18 Prior Period Statement of Financial Activities
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 5 Other income Total income Expenditure on: Charitable activities 6 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted £ 100,558 46,927 328 1,144 148,957 (143,446) (143,446) 5,511 5,511 145,566 151,077 |
Total 2021 £ 100,558 46,927 328 1,144 |
|---|---|---|
| 148,957 | ||
| (143,446) | ||
| (143,446) | ||
| 5,511 | ||
| 5,511 145,566 |
||
| 151,077 |
Page 19