## **CHARNWOOD ARTS** ## **(A Company Limited by Guarantee)** ## **ACCOUNTS FOR THE YEAR ENDED** ## **31 MARCH 2024** **Charity Number: 1143163 Company Number: 7477378** **Cound & Co LLP** **Chartered Accountants** **1 Princes Court Royal Way Loughborough Leics LE11 5XR Tel: 01509 214163** ## **CHARNWOOD ARTS** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**CONTENTS:**
TRUSTEES REPORT
CHAIR’S REPORT
INDEPENDENT EXAMINER’S REPORT
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET
NOTES TO THE ACCOUNTS|**PAGE**| |---|---| ||1-6
7
8
9
10-11
12-18| **- 1 -** ## **CHARNWOOD ARTS** ## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS** CHARITY NUMBER: 1143163 COMPANY NUMBER: 07477378 PRINCIPAL OFFICE: 27 Rectory Place, Loughborough, LE11 1UW ACCOUNTANTS: Cound & Co LLP, 1 Princes Court, Royal Way Loughborough, Leics, LE11 5XR BANKERS: Caf Bank, 25 Kings Hill Avenue Kings Hill, West Maling, Kent, ME19 4TA SOLICITORS: Hawley & Rodgers, 19-23 Granby Street, Loughborough, Leics, LE11 3DU TRUSTEES/DIRECTORS: Chair: Payal Walker Elected Trustees: Kate Clift (Resigned 13 June 2023) Kamini Patel Abida Akram (Resigned 30 June 2023) Jeremy Webster Simon Downs (Resigned 11 July 2023) Michael Arrowsmith (Appointed 26 June 2023) Ines Varela-Silva (Appointed 26 June 2023) Payal Walker (Appointed 11 July 2023) Susan Warner (Resigned 30 May 2023) Janet Overfield Shaw (Appointed 11 July 2023/Resigned 23 January 2024) Emily Gill-Howe (Appointed 11 July 2023/Resigned 15 January 2024) Charnwood Borough Council Nominees: Cllr Jenny Bokor Cllr Sandra Woodward Cllr Claire Forrest Chief Executive Officer Shirley Novak Financial Administrator Charlotte Curran **- 2 -** ## **CHARNWOOD ARTS** ## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024** The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 March 2024. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing Document** Charnwood Arts is a registered charity and a private company limited by guarantee. Our Memorandum and Articles of Association were approved by the Charity Commission before the assets and activities of Charnwood Arts (an unincorporated charity number 505977) were acquired on 1 September 2011. The company was dormant from its formation on 23 December 2010 until 31 August 2011. ## **Appointment of Directors** The appointment of Directors is set out in articles 27 to 38 of the Memorandum and Articles of Association. The Chair, Secretary, Vice Chair and Treasurer are elected at the AGM. All Directors may serve for up to three years in any specific officer role followed by a further three years in a different specific role if so selected. Charnwood Borough Council additionally appoints three serving members to the management committee for the purpose of scrutiny. The meetings are additionally open to the attendance of officers of Arts Council England and to officers of Charnwood Borough Council, the main funding agents of Charnwood Arts. ## **Director/Trustee Induction and Training** New Directors are invited to meet with the Executive and Administrative staff of Charnwood Arts to discuss the operation of the organisation. An incoming Chair will also meet with the CEO and the Arts Council Relationship Manager to better understand the responsibilities associated with that role. Directors are informed of other requirements imposed by funding bodies and issues of compliance and are involved in policy development as part of getting to know and understand the wider remit of the Trustee role. Current policy documents are available to all on-line and there is an active annual review process. ## **Directors.** Additional Trustee away days take place to develop the policy and programme direction of the organisation. Directors are encouraged to undertake additional external training and a training needs analysis is undertaken whenever there are substantial changes in the makeup of the Directors. ## **Organisation** The Management Committee of Charnwood Arts Council may have up to thirteen people – up to ten Directors and three nominated members of Charnwood Borough Council. The latter are non-voting posts. The Board oversees the general operation of the charity, monitors its work and finances and makes and reviews the policies of the organisation. A Chief Executive Officer and a Company Administrator are employed to manage and oversee the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive Officer has delegated authority, within terms of delegation approved by the Directors, for operational matters including finance, employment and artistic performance related activity. Project and programme managers are employed to oversee specific elements of the organisation’s work. **- 3 -** ## **CHARNWOOD ARTS** ## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **Related Parties** The charity has a close relationship with a number of other organisations. These include: - Arts Council England, a key funder and development partner. - Charnwood Borough Council, a key funder and long term development partner. - The National Forest, a key funder and development partner. ## **Risk Management** The Management Committee meet six times a year to monitor and review practice and policy, discuss new projects and receive quarterly financial reports. Additional sub-committee meetings take place between full meetings. An annual risk assessment and health check is undertaken with Arts Council England (ACE). The organisation is monitored by ACE and Charnwood Borough Council in respect of specific services. The organisation has developed systems and practices to mitigate those risks identified in planning and through governance. ## **OBJECTIVES AND ACTIVITIES** The charity’s objects are specifically restricted to the following: To foster and promote knowledge, improvement, understanding and appreciation of the arts and education in the arts among the people of Charnwood, the East Midlands Region and nationally and internationally as the trustees decide, in particular but not exclusively by: - a) the promotion, provision and fostering of participatory and community arts and cultural activities; and - b) enabling and contributing to the understanding, knowledge and development of participatory and community arts for the benefit of the public. The charity has the general aim of contributing to the quality of life and social cohesion within the area of the borough of Charnwood and the East Midlands by providing opportunities for people to engage with creative projects and performances within a coherent community art and a broader cultural approach. In planning our activities and programme development the Directors/Trustees have considered the Charity Commission guidance on public benefit. Charnwood Arts is committed to providing low or no cost opportunities for the people of Charnwood to experience the arts, across different art forms and across a wide range of interests and social needs. Our vision is to create, through active dialogue with artists, organisations and the public, a balanced programme which forms a network of supportive relationships to bring about a wide range of benefits through the arts. Our programme is built upon extended dialogue with potential beneficiaries, a commitment to growing relationships and the fullest exploration wherever possible of primary, secondary and tertiary benefits. The main objectives for the year were related to the development and delivery of the following: - Facilitating a variety of workshop provisions, including a: Drawing Room, Writing Room, Clay Room and Craft Room. - Supporting local emerging artists by offering a number of packages that cover important aspects of personal artistic development. This includes support with marketing, working with small groups, website development, sales of their work, and a reference. - Offer local artist and other organisations to exhibit in our small exhibition space free of charge. **- 4 -** ## **CHARNWOOD ARTS** ## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **OBJECTIVES AND ACTIVITIES (CONT’D)** - Enabling people who experience social isolation to participate in arts activities to support wellbeing and community connectivity. - Delivery of the first of three Bell Festivals celebrating the towns deep heritage with bells. - Using music, film and photography and creative expression to celebrate being uniquely ourselves, with an aim to encourage good mental health and wellbeing for children and young people. - Offering sessions which include singing, music and gentle seated exercises, designed for individuals and their loved ones affected by dementia. - Giving people an opportunity to get to know Charnwood Forest better, working with and within the forest, providing opportunities for people of all ages and from all backgrounds, to work with artists, geologists, practitioners and performers. After consultations with the Trustees, surplus funds in Restricted Projects that have now finished have been transferred to projects of a similar nature. ## **ACHIEVEMENTS AND PERFORMANCE** ## **The 2023 Bell Festival** The festival took place on Sunday, 10th September across two sites – Queen’s Park and All Saints with Holy Trinity Parish Church, to allow for a procession between both. This festival was themed on ‘Loughborough Past’ and centered on a 7- foot-tall willow bell made by local willow sculptor Nita Rao. This mimicked Great Paul, the largest bell ever cast in the UK, and made by John Taylor’s Bell Foundry for St Paul’s Cathedral in 1881. The procession told the story of how this bell was transported from Loughborough to London. After a short address, the procession left All Saints church to the sound of the church bells and headed to the park on a route that would take it through the pedestrianised area of Loughborough. It was led by three Morris dance sides who entertained the gathering crowds. Initially, the steam engine took a different route, meeting up with the procession in the market place. All arrived at the park together to the sound of the Carillon playing, before the Mayor gave an address. The public enjoyed music played by Hathern Brass Band, various side stalls, Morris dancing and an opportunity to see the engine and talk to the enginemen. Refreshments were available in both the park cafe and via invited vendors. This event attracted over 3000 people across the day. ## **Eat, Breathe, Create** Set in Fearon Hall café, Eat Breathe Create sessions focus on enabling people who experience social isolation to participate in arts activities to support wellbeing and community connectivity. The café attracts around twenty people a week working with local artists and culminates in a number of exhibitions over the year. It has grown to the point of offering another session in a new location within the town and sessions within villages in the new year, with thanks to The Community Lottery Fund. ## **Charnwood Musical Memory Box** Working in partnership with Leicester Musical Memory Box, our successful National Portfolio application to The Arts Council meant we were able to extend these sessions offering musical interaction for those affected by dementia for another year. In 2023 we introduced a new group Geet Sanjeet, working alongside the original sessions and is attended by on average 25 people at each session. These free, interactive music-based sessions include singing, music and gentle seated exercises, designed for individuals and their loved ones affected by dementia. **- 5 -** **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **CHARNWOOD ARTS** ## **ACHIEVEMENTS AND PERFORMANCE (CONT’D)** ## **Emerging Artist Programme** 12 local artists were offered a support package that included: work placements, training, peer mentoring, practice support, exhibition, performance and publishing opportunities. This is the third round of the initiative and are now employing a number of the emerging artists to facilitate our sessions via our professional escalator programme. ## **Drawing Room, Sound Room, Clay Room and Writing Room** We continued to open our doors for local artists who may need some space both physically and mentally to be creative. The sessions are also aimed at giving people a ‘snackable’ taste of a number of art forms to ‘try it out’ without pressure. These sessions are designed to be accessible, inclusive and give us a chance to continue to consult with the local community about what they may want us to provide. ## **Digital Us!** Working with new partners Virtual School and Care to Dance to provide a safe space in the SoundRoom Studio to offer young people who are at risk of exclusion time to breathe and be creative with technology. ## **Exhibitions** The intimate space is big enough to give local artists the chance to display their work free of charge in a safe environment and curate their own exhibition with support from Charnwood Arts. During 2023 we hosted a photographic exhibition, CASA (Charnwood Arts Student Association), an exhibition by our Intern Lorena Lees, a number of exhibitions alongside Loughborough Lates, PHD Students from Loughborough University, Loughborough College students, and local artist Paul Dexter. The space has already been booked out for the majority of the coming year. ## **Charnwood Forest Landscape Partnership Scheme** _Learn About and Look After_ . The Home Education group that was set up by Charnwood Arts at The Urban Forest, continued to meet independently at the Rectory Wildlife Gardens and are making use of the Nature Inspired Learning Resource. As part of our ongoing partnership work with Charnwood Forest Geopark, Charnwood Arts have worked with Age UK’s Men & Women in Sheds and a range of artists and community partners to craft 100 new habitats for wildlife in Charnwood Forest. Shed members have crafted bird, owl, insect, bat and hedgehog boxes which community groups, artists and schools have decorated to create small works of art. These habitats have been gifted to locations across Charnwood Forest to support local wildlife and draw interest to the sites. We also continue to work with the Safe, Well, Happy group through monthly creative sessions. There was an exhibition at Charnwood Arts in March to share and celebrate the work they have created over the past two years. ## **Operational** During the year we have continued to overhaul the systems and processes at Charnwood Arts. The development of the business plan based on achievable, and realistic aims and objectives of the organisation in line with the Arts Council requirements is driving our activities. We continually strive to learn, develop, and understand the impact of the work we undertake. This learning may take a variety of forms and approaches yet is intended to be platformed upon core organisational values, aims and intentions whilst characterised by requirements determined by funders. The use of CAPE (Charnwood Arts Performance and Evaluation) operational procedure guides our approach to planning, implementing, learning from, and reporting on our creative offers. **- 6 -** ## **CHARNWOOD ARTS** ## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **FINANCIAL REVIEW** The organisation remains a highly effective, efficient and economical organisation with excellent outputs and a significant range of impacts on the area and in people’s lives. Continued support from Arts Council England and Charnwood Borough Council enables us to meet our core costs and in-house delivery programme and sets the organisation on a firm footing for future programme development and income generation. Charnwood Arts managed to secure new sources of funding for innovative projects in the current uncertain economic climate. ## **Reserves Policy** Our aim is to hold reserves which will minimally allow for three months’ operation should all other sources of funding be unavailable. A policy for reserves is in place. ## **ACCOMMODATION** Charnwood Arts resides at 27 Rectory Place, Loughborough, LE11 1UW. ## **TRUSTEES' RESPONSIBILITIES STATEMENT** The trustees (who are also directors of Charnwood Arts for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2015 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that 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. This report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006. On behalf of the Board _____________________ Payal Walker 4 June 2024 Chair of Charnwood Arts **- 7 -** ## **CHARNWOOD ARTS** ## **CHAIR’S REPORT FOR THE YEAR ENDED 31 MARCH 2024** This has been a fantastic year for the organisation. It is a testament to the committed and talented staff of Charnwood Arts, the contribution of its volunteers, including our new and dedicated Trustees, and the faith and generosity of our many supporters and stakeholders that we have been able to achieve so much. We would not have been able to achieve all that we have without the core funding we receive from the Arts Council for England and Charnwood Borough Council. We would like to thank them, not only for their financial support, but for the time and energy they invest in helping us to achieve our mission to enhance the lives of the people of Charnwood through the arts. As the new Chair, I share the vision for Charnwood Arts to flourish, change with the times and breathe a fresh outlook for the organisation while continuing to be accessible in every way to those who want to explore being creative and stand by our Equity, Diversity and Belonging policy. The arts belong to everyone, and we all want to feel like we belong within our communities. Charnwood Arts bring people together and works hard to ensure that everyone feels included. Looking forward, 2024-2025 we are filled with excitement and optimism based on a new strategy and way of working, offering more artists an opportunity to get involved. As part of our NPO programme, the 2023 Bell Festival was a huge success but for 2024 we are planning a 3-day festival in October, based around our hub making it manageable and more accessible to everyone. The 2024 festival has evolved in to partnering with other organisations such as Equality Action to deliver The Mela, and combine creative sessions to celebrate them both. Finally, by the time you read this our rebrand will have been completed including a new logo and website. A fresh look to a growing organisation. Our programme continues to develop, and we remain focused on listening and responding to the needs of local people. We are excited by and looking forward to the possibilities ahead in the coming year. With best wishes __________________________ Payal Walker Chair of Charnwood Arts 4 June 2024 **- 8 -** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF** ## **CHARNWOOD ARTS** I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages 9 to 18. ## **Respective Responsibilities of Trustees and Examiner** The charity’s trustees (who are also the Directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 Act - follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act and - state whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Statement** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below. ## **Independent Examiner’s Statement** In connection with my examination, no matter has come to my attention: - 1) which gives me reasonable cause to believe that in any material respect the requirements - 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 requirements of section 386 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice Accounting and Reporting by Charities have not been met; or - 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. D R Gradon MA FCA Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR 4 June 2024 **- 9 -** ## **CHARNWOOD ARTS** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **(INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## **FOR THE YEAR ENDED 31 MARCH 2024** |INCOME AND ENDOWMENTS FROM:
Donations and legacies
Charitable Activities:
Grants and Earned Income
Investments
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE ON:
Raising Funds
Charitable Activities
TOTAL EXPENDITURE
Net (Expenditure)/Income
Transfers Between Funds
Net Movement in Funds
RECONCILIATION OF FUNDS:
Total Funds Brought Forward
Total Funds Carried Forward|2024
2024
2024
Restricted
Designated
Unrestricted
Notes
Funds
Funds
Funds
2
-
1000
100
3
40507
14840
153377
-
-
1951
______
______
______
40507
15840
155428
______
______
______
4
-
-
14459
4
49153
33967
155086
______
______
______
49153
33967
169545
______
______
______
(8646)
(18127)
(14117)
11
(31006)
86370
(55364)
(39652**)**
68243
(69481)
______
______
______
60280
6967
149890
______
______
______
10
20628
75210
80409
______
______
______|2024
Total
Funds
1100
208724
1951
______
211775
______
14459
238206
______
252665
______
(40890)
-
(40890)
______
217137
______
176247
______|2023
Total
Funds
-
210458
1086
______
211544
______
11719
241754
______
253473
______
(41929)
-
(41929)
______
259066
______
217137
______| |---|---|---|---| **- 10 -** ## **CHARNWOOD ARTS** ## **BALANCE SHEET AS AT 31 MARCH 2024** |
FIXED ASSETS
Tangible Assets
CURRENT ASSETS
Debtors
Cash at Bank
CURRENT LIABILITIES
Creditors
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
Represented by:
FUNDS
Restricted Funds
Unrestricted Funds:
Reserve Fund
General Funds
Designated Funds|Notes
6
7
8
9
11|2024
2023
3803
5652
19715
22206
156356
212906
______
______
176071
£235112
______
______
3627
23627
_____
_____
172444
211485
______
______
176247
217137
______
______
£176247
£217137
______
______
20628
60280
55000
55000
25409
94890
75210
6967
______
______
£176247
£217137
______
______| |---|---|---| |||| **- 11 -** ## **CHARNWOOD ARTS** ## **BALANCE SHEET AS AT 31 MARCH 2024** For the year ending 31 March 2024 the company 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 company to obtain an audit of its accounts for the period in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts; - These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006. These financial statements were approved by the directors on 4 June 2024 and signed on their behalf by: ………………………………….. Payal Walker On behalf of the Board **- 12 -** ## **CHARNWOOD ARTS** ## **NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024** ## 1) ACCOUNTING POLICIES - a) The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the requirements of the Companies Act 2006 as applicable to companies subject to the Small Companies regime and UK Generally Accepted Accounting Practice. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical cost convention. - b) The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member. - c) Grants are recognised in full in the Statement of Financial Activities in the period in which they are receivable. - d) Incoming resources are not included net of expenditure. 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. - e) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Governance costs include management and administration costs which are incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. - f) Depreciation is charged in respect of fixed assets in order to write off the cost thereof over their estimated useful lives at the following rates: Video Equipment - 33 ⅓% per annum of net book value Computer Equipment - 33 ⅓% per annum of net book value Fixtures and Fittings - 15% per annum of net book value - g) Unrestricted funds are core funding which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which has not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by funding bodies. The cost of raising and administering such funds are charged against the specific fund. Interfund transfers occur in two situations: - If there is an excess of expenditure over restricted income on a particular project, then the shortfall is met by a transfer from the general fund. - If there is an excess of restricted income over expenditure on a particular project, then approval is obtained from the fund provider for the excess to be transferred to general designated funds. - h) Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. **- 13 -** ## **CHARNWOOD ARTS** ## **NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024** ## 2) INCOME AND ENDOWMENTS FROM DONATIONS AND LEGACIES |3)
4)
a)|2024
2024
2024
2024
2023
Restricted
Designated
Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Funds
Sponsorship and donations
-
1000
100
1100
-
_____
____
____
_____
_____
-
1000
100
£1100
£-
_____
____
____
_____
_____
INCOME AND ENDOWMENTS FROM CHARITABLE ACTIVITIES
2024
2024
2024
2024
2023
Restricted
Designated
Unrestricted
Total
Total
Grants and Earned Income
Funds
Funds
Funds
Funds
Funds
Arts Council England – Core Grant
-
-
134183
134183
134183
Borough of Charnwood - Core Grant
-
-
17100
17100
17100
Leicestershire County Council
9362
-
1580
10942
-
Intelligent Energy
13333
National Forest Company
30425
-
-
30425
44277
Carlton Hayes
-
4800
-
4800
-
National Lottery
-
9400
-
9400
-
Other grants and earned income (less than £1000)
720
640
514
1874
1565
______
_____
______
______
______
40507
14840
153377
£208724
£210458
______
_____
______
______
______
EXPENDITURE
Raising Funds|2024
2024
2024
2024
2023
Restricted
Designated
Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Funds
Sponsorship and donations
-
1000
100
1100
-
_____
____
____
_____
_____
-
1000
100
£1100
£-
_____
____
____
_____
_____
INCOME AND ENDOWMENTS FROM CHARITABLE ACTIVITIES
2024
2024
2024
2024
2023
Restricted
Designated
Unrestricted
Total
Total
Grants and Earned Income
Funds
Funds
Funds
Funds
Funds
Arts Council England – Core Grant
-
-
134183
134183
134183
Borough of Charnwood - Core Grant
-
-
17100
17100
17100
Leicestershire County Council
9362
-
1580
10942
-
Intelligent Energy
13333
National Forest Company
30425
-
-
30425
44277
Carlton Hayes
-
4800
-
4800
-
National Lottery
-
9400
-
9400
-
Other grants and earned income (less than £1000)
720
640
514
1874
1565
______
_____
______
______
______
40507
14840
153377
£208724
£210458
______
_____
______
______
______
EXPENDITURE
Raising Funds|2023
Total
Funds|2023| |---|---|---|---|---| ||||_
_|-
____
£-
____| ||||2023
Total
Funds|2023| |||||| |||||| |2024
2024
2024
Restricted
Designated
Unrestricted
Funds
Funds
Funds
Salaries and Employers NIC
-
-
13395
Publicity
-
-
1064
______
______
_____
-
-
14459
______
______
______|2024
Total
Funds
13395
1064
_____
£14459
______|2023
Total
Funds
11409
310
_____
£11719
______|2023
Total
Funds|2023| |---|---|---|---|---| **- 14 -** ## **CHARNWOOD ARTS** ## **NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024** ## 4) EXPENDITURE (continued) ## b) Charitable Activities |2024
Project Work
Undertaken
Directly
Direct Project Development
Fees and Materials
48391
Salaries and Employers NIC
24589
Pension Costs
103
Premises Costs
3159
Other Costs
Bank Charges
-
Salaries and Employers NIC
-
Pension Costs
-
Insurance
-
Photocopying, Stationery and Printing
106
General Publicity
2837
Telephone and Internet
-
Office Rent and Rates
-
Repairs and Renewals
27
Utility Costs
215
Travel
434
Staff Training and Technical Support
402
Miscellaneous Expenses
252
Subscription and Membership
2547
Meeting Expenses
58
Depreciation
-
Professional Fees
-
Storage Fees
-
______
83120
______|2024
2024
2023
Support
Costs
Total
Total
3696
52087
64275
-
24589
13191
-
103
195
320
3479
13807
60
60
72
90281
90281
82982
1210
1210
564
2363
2363
1759
1283
1389
595
9578
12415
9582
1295
1295
1136
22500
22500
23062
5167
5194
9219
5651
5866
3927
192
626
329
2018
2420
3377
255
507
484
1892
4439
2740
386
444
-
1849
1849
2759
5090
5090
6978
-
-
720
______
______
______
155086
£238206
£241754
______
______
______| |---|---| Any costs directly attributable to project work that can be readily identified have been allocated to the specific project. Note 10 details the individual funds that represent each project. Other costs that cannot be directly attributable to project work have been allocated to either fund raising activities or support costs as appropriate. These costs have been allocated on the basis of the amount of time spent on that activity. Support costs should be further apportioned to each project using a reasonable allocation method. Given that the charity had many different and separately identifiable projects during the period, it is impractical to allocate support costs to each individual project and, therefore, support costs have been allocated against the total of charitable activities only. **- 15 -** ## **CHARNWOOD ARTS** ## **NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024** |STAFF COSTS|2024|2023| |---|---|---| |Salaries|128172|108177| |Social Security Costs|8984|7662| |Less: Employment Allowance Received|(5000)|(5000)| |Pension Contributions|1313|759| |SMP Reclaimed|(3892)|(3258)| ||________|________| ||£129577
______|£108340
______| ## 5) STAFF COSTS No trustee received any remuneration or any expenses during the year (2023: none). No employee received total employee benefits in the year of £60,000 or more (2023: nil). The average monthly number of employees during the year calculated on the basis of full time equivalent, was as follows; |6)|Salaried Staff
FIXED ASSETS
Video &
Photographic
Tangible Assets
Equipment
Cost
At 1 April 2023
7628
Less: Disposals
-
_____
At 31 March 2024
7628
_____
Depreciation
At 1 April 2023
7285
On Disposals
-
Charge for the Year
114
_____
At 31 March 2024
7399
_____
Net Book Value at 31 March 2024
229
_____
Net Book Value at 31 March 2023
343
_____|Computer
Equipment
25557
(5812)
_____
19745
_____
20441
(5812)
1705
_____
16334
_____
3411
_____
5116
_____|2024
6
___
Fixtures
& Fittings
1776
-
_____
1776
_____
1583
-
30
_____
1613
_____
163
_____
193
_____|2023
6
___
Total
34961
(5812)
_____
29149
_____
29309
(5812)
1849
_____
25346
_____
£3803
_____
£5652
_____| |---|---|---|---|---| |||||| ## **- 16 -** ## **CHARNWOOD ARTS** ## **NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024** |7)
8)
9)|DEBTORS– All receivable within one year
2024
Trade Debtors
5746
Prepayments and Accrued Income
11995
PAYE/NIC Overpaid
1974
_____
£19715
_____
CASH AT BANK AND IN HAND
2024
CAF Cash Bank Account
98092
Charity Bank
58005
Cash in Hand
259
______
£156356
______
CREDITORS– Amounts falling due within one year
2024
Trade Creditors
114
Accruals
3513
_____
£3627
_____|2023
13915
6325
1966
_____
£22206
_____
2023
156598
56158
150
______
£212906
_______
2023
18971
4656
_____
£23627
_____| |---|---|---| 10) ANALYSIS OF NET ASSETS BY FUND |ANALYSIS OF NET ASSETS BY FUND||||| |---|---|---|---|---| ||Restricted|Designated|Unrestricted|| |2024|Funds|Funds|Funds|Total| |Fixed Assets|-|-|3803|3803| |Debtors|5746|-|13969|19715| |Cash at Bank and in Hand|14996|75210|66150|156356| |Creditors|(114)|-|(3513)|(3627)| ||**______**|**______**|**______**|**______**| ||20628
**______**|75210
**______**|80409
**______**|176247
**______**| ||Restricted|Designated|Unrestricted|| |2023|Funds|Funds|Funds|Total| |Fixed Assets|748|-|4904|5652| |Debtors|13915|-|8291|22206| |Cash at Bank and in Hand|58916|10013|143977|212906| |Creditors|(13299)|(3046)|(7282)|(23627)| ||**______**|**______**|**______**|**______**| ||60280
**______**|6967
**______**|149890
**______**|£217137
**______**| **- 17 -** ## **CHARNWOOD ARTS** ## **NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024** ## 11) ANALYSIS OF FUNDS |Restricted Funds
Forest Consultation Project
Intelligent Energy
City Classroom
PMP
Multimedia
Hinckley/Bosworth Hospital Corridor
Loughborough Mela
Forest Landscape
Feel Good in the Forest
Carillon Sound Tower
Charnwood Music Memory Box
K R Photography Award
Watch This Space
Partition Music Project
Designated Funds
Songster
800th Market and Loughborough Fair
Art Hub
Creative Curriculum
Just Be You
Cobden Breathe Create
Music in Care
Eat, Breathe, Create
Music Memory Box
The Bell Festival
Just Giving
Health and Wellbeing
Creative Hub
Digital Us
Emerging Artists
Creativity Connection
TOTAL DESIGNATED FUNDS
TOTAL RESTRICTED FUNDS
UNRESTRICTED FUNDS
TOTAL FUNDS|Bal B/fwd
01.04.2023
5155
10867
11976
8734
1483
3603
-
-
-
922
381
1250
3010
12899
______
60280
______
Bal B/fwd
01.04.2023
3420
36
68
-
540
700
180
-
-
-
2023
-
-
-
-
-
______
6967
60280
149890
______
217137
______|Income
-
-
-
-
-
-
-
1919
38588
-
-
-
-
-
______
40507
______
Income
-
-
-
640
-
-
-
14200
1000
-
-
-
-
-
-
-
______
15840
40507
155428
______
211775
______|Expenditure
-
(1771)
-
-
-
-
(404)
(5534)
(28306)
-
(239)
-
-
(12899)
______
(49153)
______
Expenditure
-
-
-
(8124)
-
-
-
(6558)
(7917)
(10431)
-
(69)
-
(13)
(814)
(41)
______
(33967)
(49153)
(169545)
______
252665
______|Interfund
Transfers
(5155)
-
(11976)
(8734)
(1483)
(3603)
404
3615
-
(922)
(142)
-
(3010)
-
______
(31006)
______
Interfund
Transfers
-
(36)
(68)
24710
(540)
-
(180)
14247
10139
10431
-
69
7010
7585
7003
6000
______
86370
(31006)
(55364)
______
-
______|Bal C/fwd
31.03.2024|Bal C/fwd
31.03.2024| |---|---|---|---|---|---|---| ||||||-
9096
-
-
-
-
-
-
10282
-
-
1250
-
-
______
20628
______
Bal C/fwd
31.03.2024
3420
-
-
17226
-
700
-
21889
3222
-
2023
-
7010
7572
6189
5959
______
75210
20628
80409
______
£176247
______|-
9096
-
-
-
-
-
-
10282
-
-
1250
-
-
______| |||||||20628
______| |||||||| **- 18 -** ## **CHARNWOOD ARTS** ## **NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024** ## 12) LEASING COMMITMENT AND CONTINGENT LIABILITY The company rents office space at Rectory Place, Loughborough. The annual rent is £22,500. The lease runs to 14[th] March 2027 with a break clause dated 15 March 2025. ## 13) RELATED PARTY TRANSACTIONS There were no transactions with related parties during the year (2023: none). ## 14) CONTROL The charity is controlled by the trustees.