Company registraiion number.. 7512852 Charity. registration number. 1143205 Nottingham Society of Artists Ltd knowt] as NSA (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended J l March 2024 Comn)unily ALcounling Plus Uniis l & 2 North West 41 TalLx)i Street Noitingham NGI 5GL Nottingham Society of Artists Ltd known as NSA Contents Reference and Administrative Details Trustees, Report 2to4 Independent ExaMine￿S Report Statement of Financial Activities Balance Sheet Notes to the Financial Ststements 8t0 13 Nottingham Society of Artists Ltd known as NSA Reference and Administrative Details Trustees Colin Treliving Kate Fletcher Dawn Hodgman Carole Ellis Paul Searson Philip Harrison Roger Crooks Alan Gardener Jane Sirkett Charity Registration Number 1143205 Company Registration Nurnber 7512852 Registered O￿lee St Luke's House 71 73 Frigr Lane NOTtINGHAM NGI 6DH Independent Examiner John O'Brien, eTnployee of Coinmunity Accounting Plu5 Unit5 1 & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I Nottingham Society of Artists Ltd known as NSA Trustees, Report The irustees. whl) are directors for the purposes of company law, present the annual report together with the financial ststements and auditors, report of the charitable company for the year ended J l March 2024. Trustee5 and officers The trustees and office[5 serving during the year and since the year end were as folloivs.. Trustees.. Colin Treliving Gill Salter (resigned 6 March 2024) Kate Fletcher (appointed 6 March 2024) Dawn Hodgman (appointed 6 March 2024) Carole Elli5 (appointed 6 March 2024) Paul Searson (appointed 6 March 20241 Philip Harrison Roger Crooks Alan Gardener Jane Sirkett Johi) Poolei Iresigi)ed 6 March 2024) Structure* governance and management alure of¥uverniM¥ dvcumeiit The chariry is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of &ss(￿IatIOn dated 011021201 l and most recently amended 061061201 i as amended by certificate of incorporation on change of name dated 1810612013. 11 has no share capital and the liability of each member in ihe event of winding-up is limited to £10. RecrHElment and ftppoinlmenl of iruslees The members vote at the AGM for Jiew Trnstees to be appointed, or TTUStees are co-opted during the year and then their position is ratified at the AGM. Obj¢£tives and a£livitie$ Objects anduims The objects of the charity are for the public benefit, to advante education by the promotioi) and encouragement of the arts. ii)cluding all fonns of visual arts. Objeclives, slraieRies dnd uciivilies The main activities are providing art classes and gallery space for artists to exhibit their work. Achievements and performanee Throughout the year we continued our usual activities and ¢ontinued work on Ihe building. Page 2 Nottingham Society of Artists Ltd known as NSA Trustees, Report Financial review Policy re.serve5 £42,000 to be held to siipport the maintenance of our building. Public bellelll The public can join the classes, improve their skills. and also exhibit their WL)rk in our gallery. Members of the piihlie can visit and enjoy our exhibitions. The trLl5tee5 confitin that they have complied with the requirements of section 17 of the Charities Act 2011 to have due reg5ard to the public benefit g5uidance published by the Charity Coinmission for EniTland and Wales. Small Companies provision statement This report has been prepared in accordance with the small coinpanies regime under the Companies Act 2006. Page 3 Nottingham Soeiety of Artists Ltd knoivn as NSA Tru$tee8' Report StateEllent of Responsibilities The tFuste¢s (who drr albo thr dIr¢GtQ￿ vf Nottinghaln Society of Arttsts Lid for the putws of company law) are responsible for preparing the tnjstees, r¢port and the flluncial styAtements in accordance with applicable law and uDIt￿ KiDgdorn Awowiiivg Stsndards (Unit¢d Kittgdom Gerlerally Accepted Accout)tin8 Pr8Cttc¢l, in¢ludit)g FRS 102 "The Financial ReF4)rting Standard applicable in the UK and Republic of [rel￿d, The report and accounts have been prepared in 8ccordanc¢ with the provisions in the Companies Act 2006 relatinE to s￿￿1] COTnpanies. Company law requires the ttus¢¢¢s to prepare fin￿ClaI statements for each finartCi81 year. Under cornpally law th¢ ttust¢es must not approve the financtai statem¢nts unless they are satisfied that they give a true and fair view of th¢ statc of Afftiirs of the ¢haritabl¢ ¢ompany and of the incoming resources and application of resour¢e8. includit)B its income and expenditure, of the chgritsbl¢ CoMp￿Y for that period. In preparing these fEnancial staternents, the trustees are required to.. s¢le¢t suttabl¢ accounting policies and apply them consistently. observe the methods ond principles in the Churities SORP,. make judgements and estimates that are re￿Onable and prndenL state whether applicable accounting stsndards, comprising FRS 102 haye been followed. subje¢t to any mat¢rial departures disclosed 4nd explained in the financial ststements,. and prepare the financial statements on th¢ going ¢on¢ern basis unless it is inappropriate io presume that the charitable company will continue ID business. Tho tru5¢c¢s A￿ responiible for keeping prop¢r ￿￿O￿nting re￿rdS that Can dis¢105¢ with reasonable acauacy at any time the fiTthnci21 ptsqition of the charitsble tompany and enllhle them trk ensure that the financial %tatement comply with the Companses Act 2006. They 8r¢ 8]so resp)nsible for safe￿rding the assets of the charitable company and hence for Liking reasonable steps for the prevention and detection of fraud and other irregularities. The tr]stees are res3x)nsible for the maintensnce and inte8rity of the ¢orporate and [￿￿LC1al ÉDfomi8tio included on the charitable company'5 website. Legislation governing the prepardtioll ar￿ ds'ssernination of financial statements differ from legislation irÉ other jurisilidi¢)ns. The aT)nual repvft wa$ approv¢d by th¢ ÈnJ$t¢¢8 of th¢ ¢harity on .Q21.Q1121124 . and si8n¢d on it$ b¢half by.. Colin Tre Twgtee Page 4 Nottingham Society of Artists Ltd known as NSA Independent Examiner's Report to the trustees of Nottingham Society of Artists Ltd {'the Company,) Independent examiner's report to the trustees of Nottingham So¢iety of Artists Ltd ('the Company,) I report to the charity trustees on my examination of ihe accounts of the company for the year ended 31 March 2024. Responsibilitie5 and basis of report As the charity's trusiees of the Company (and also its directors for ihe purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Aci ?006 ('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 m}, 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(51{b) of the 2011 Aci. Independent e¥aminer's statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination gFivin¥ me cause to believe that in aiiy Tnaterial respect.. l. accounting records were not kept in respect of the Company as required by section i86 of the 2006 Act,. or 2. the accounts do not accord with Ihose records; or the accounts do not coinpl}' with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 't￿e ￿ld faiT' view which is iiot a Inatter considered as part of an indepeiideiit exatnination., or 4. the accounts have not beeii prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting b}, charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have concerns and have come acros5 no other Inatters 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. John O'Brien Msc, FAIA. FCCA, FCIE. employee of Community Accounting Plus Fellow of the Association of Charity. Independent Examiners Units l & 2 North West 41 TalLx)i Street Nottingham NGI 5GL 0510712024 Page 5 Nottingham Society of Artists Ltd known as NSA Statement of Financial Aetivities for the Year Ended 31 March 2024 (Ineluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses} Total 2024 Total 2023 Unrestricted Note Income and Endowments from: Donatiot]5 and legacies Charitable activities Investment income 200 34,488 848 200 34,488 848 20,035 33,366 403 Total In¢ome 35,536 35,536 53,804 Expenditure on: Charitable aciiviries 126,638) {96,638) 168,110) Total Expenditure 126,638) {96,638) 168,110) Net incomel(expenditure) 8.898 8,898 {14.306) Net movement in funds 8,898 8,898 {14,306) Reconciliation of funds Total funds brought fonvard 728,709 728,709 743,015 Total funds carried fonward 737,607 737.607 728,709 All of the charity's activities derive from continiiing operations diiring the above two period5. The notes on pages 8 10 13 fomi an integral parr of these financial statements. Page 6 Nottingham Society of Artists Ltd known as NSA (Reglstr&tlon number: 7512852) BalaDce Sheet as at 31 March 2024 2024 2023 Note Flxed 1$6ets Tangible asseis 642.160 042,75U CurreDt assets Debturs Cash at bank and in hond io 6.109 90.544 92.104 96.653 92,250 6,291 Creditors: Amovnts fxlling due witbin one year 12 1,206 Net current assets 95,447 85,959 Net assets 737.607 728,709 Funds of the charity: Unrestrkted Income funds Urffj¢5trict¢d fuNIs 737,607 728.709 Totsl funds 737.607 728.709 For th¢ financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Abi 21X)6 relaiitig io small compaDies. Directors, responsibiliti¢s'. The members have not required the charity to obtain at) audit of it8 8CCOUnts for the year in que8tiOt) in accordance with section 476; and The diLWlOlS aGknowl¢dg¢ th¢ir r¢spoJ]sibiliti¢s for Gonwlying w£d? til¢ i¢quir¢Jn¢nts of tlTr¢ Act with I.￿pect to accounting records and the preparation of accounts. These financial staiements have be¢n prepared in ac¢ordan¢e with the special provisions relating to companies Subject to the small cornpanies regime within Part 15 of the Companies Act 2(K)6. The financ￿1 sthtements on pages 6 to 13 were approved by the ttustees, and authorised for issue on ..Q2IQ7J2D24. and signed on their behalf by.. Kate Fletcb TDJ&tee The notes on pages 8 to 13 form an integr81 part of these fillhllcial staternents. Pa8c 7 Nottingham Society of Artists Ltd known as NSA Iyotes to the Financial Statements for the Year Ended 31 March 2024 l Accounting policies Summary of signifieant aecounting polieies and kev aecounting estimates The principal accounting policies applicd in the preparation of these financial statements are set out below. These policies have been con51Stently applied to all the J'ears presented, unless othenvise stated. Statement of cornpliance The financial stateinents have been prepared in accordance with Accounting and Reportin¥ by Charities-. Statement of Recotnmended PractlLe (applicable to ch(Irities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irel