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2023-03-31-accounts

'Liberating the voices of people living with disability through performance'

PROUD & LOUD ARTS

(A company limited by guarantee) ANNUAL REPORT

AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

COMPANY NUMBER 07627420

CHARITY NUMBER 1143958

PROUD & LOUD ARTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2023

INDEX

Foreword 1
Company information 2
Trustees and directors' report 3 – 11
Independent Examiners report 12
Statement of fnancial activities 13
Balance sheet 14
Notes to the fnancial statements 15 – 21

PROUD & LOUD ARTS FOREWORD FOR THE YEAR ENDED MARCH 31 2023

“Creativity is Intelligence having fun” - Albert Einstein certainly got that one right about us here at Proud and Loud Arts in this past year.

As newly appointed Chair of the board in 2022, I am pleased to report on yet another successful year for Proud and Loud Arts, full of creativity and fun for our members, staff, volunteers and trustees. I am also pleased to say this year has been an especially exciting, busy and fruitful one for Proud and Loud Arts as an organisation seeking longer-term financial security. This could not have been achieved without the full commitment of everyone with an involvement in the organisation; staff, freelancers, members, trustees, consultants, and other volunteers have worked tirelessly towards ensuring Proud and Loud Arts continues to grow exponentially through a series of outstanding art projects delivered to audiences by our members.

Indeed, on 4[th] November 2022, Proud and Loud Arts was confirmed as one of the 945 arts organisations, museums and libraries being awarded National Portfolio Organisation status through Arts Council England beginning delivery in April 2023. This means we will receive Arts Council England investment over the next three years, contributing to delivering a portion of Arts Council England’s Let’s Create programme. This welcome funding after more than 20 years of short-term funding from a range of smaller funding pots will provide us with longer-term security as a charity.

Our planning began way back in May 2022 enabling us to understand the considerable commitment that we would be expected to undertake; governance, access, quality, compliance and risk all continue to be measurable aspects of any funding and we have worked hard as an organisation this financial year to satisfactorily support Artistic Director Tom Hogan and the staff team in preparation for the fascinating artistic journey they will undertake starting April 2023.

Despite having a transitory board in this last year, we have overcome obstacles through rigorous planning and examining the potential business capabilities of Proud and Loud Arts trustees through continued training and development creating a robust strategy focusing on financial security for the next three years.

I give you the Trustees’ and Directors’ report for the year ending 31[st] March 2023.

Janet Butler - Chair

1

PROUD & LOUD ARTS COMPANY INFORMATION FOR THE YEAR ENDED MARCH 31 2023

DIRECTORS

J Butler Chair from 18/10/22 R Jones Chair from 1/03/22 to (appointed 28/06/21, resigned 6/10/22) 6/10/22 M Rollinson Chair until 1/03/22 (resigned 9/05/22) C A Deane Treasurer from 9/06/22 (appointed 9/06/22) J M Charlesworth Treasurer from 7/03/22 to 9/06/22 K A Hoye C McIntyre (appointed 9/05/22) – Y L Pottinger (appointed 28/06/21 resigned 23/09/22) J Willows

SECRETARY

K A Hoye

ARTISTIC DIRECTOR

T Hogan

REGISTERED OFFICE & PRINCIPAL PLACE OF BUSINESS

Department 4 C/O Salford CVS The Old Town Hall 5 Irwell Place Eccles M30 0FN

INDEPENDENT EXAMINER & ACCOUNTANTS

Stacy Mason FCCA MAAT HGA Accountants & Financial Consultants Ltd t/a Chittenden Horley - Chartered Accountants : Charity specialists Hyde Park House Cartwright Street Hyde Sk14 4EH

BANKERS

CAF Bank

2

PROUD & LOUD ARTS TRUSTEES AND DIRECTORS REPORT FOR THE YEAR ENDED MARCH 31 2023

The Directors, who are the Trustees of the charity, present their annual report and the audited financial statements for the year ended March 31 2023.

REPORTING FRAMEWORK

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS102) (effective 1 January 2015), referred to as the Charities SORP (FRS 102).

OBJECTIVES AND ACTIVITIES

Objectives

The objectives of the Charity are:

“To advance the education of people with disabilities and in particular in the field of art and to develop their knowledge and appreciation of the art of drama.

To help meet the needs of disabled people by providing them with the ability to express themselves in a creative context.

To help disabled people, especially but not exclusively through leisure time activities, so as to develop their capabilities that they ay grow to full maturity as individuals and members of society.”

The charity achieves its objectives through holding weekly drama workshops in a community centre in Salford. This gives members a voice through performance making.

REVIEW OF ACTIVITIES

This year cantered around our Accessible Pathways project. We brought together disabled artists from Bolton, Tameside, Manchester Trafford, and Salford, providing them with a platform to express themselves creatively and become an integral part of the local arts community.

We organised regular sessions where artists collaborated, shared ideas, and actively shaped the development of our program. These sessions took place at Contact Manchester and Gorse Hill studios in Trafford, focusing on acting, voice, and movement.

Driven by our belief in the power of the arts to unite people and amplify diverse voices, we partnered with Håb Manchester to deliver a summer performance project, reaching an audience of over 7,000 individuals. We also collaborated with esteemed institutions like The Royal Exchange, HOME, MMU, University of Salford, Media City, Salford and Manchester City Councils, creating a network of support and engagement.

In addition to the regular sessions, we organised trips to cultural events in Manchester, Trafford, Salford, and Stockport, offering participants the opportunity to build relationships, experience exciting cultural activities, and explore different venues. The Look Out program, which brought together individuals from various groups, was particularly valuable in fostering social connections.

To ensure that everyone had the necessary support, our Engagement Officer actively recruited new participants, while our Access Coordinator worked closely with artists to tailor support packages according to their needs. We also sought creative support from Manchester University and Arden College, prioritising individuals with performance experience over professional support workers. This approach allowed us to strike a balance between creativity and support and create an inclusive and accessible environment.

3

PROUD & LOUD ARTS TRUSTEES AND DIRECTORS REPORT FOR THE YEAR ENDED MARCH 31 2023

Achievements and Outcomes:

Successful Engagement: We delivered 352 hours of creative engagement, with 84% of all spaces filled. This demonstrates the interest in our project among disabled artists in Bolton, Tameside, Manchester Trafford, and Salford.

Creative Collaboration:

The regular sessions provided a platform for disabled artists to come together, collaborate, and share ideas. Participants had the opportunity to explore acting, voice, and movement, fostering their creative expression. Our Partnership with Håb Manchester expanded our reach and promoted the talents of disabled artists to a wider community. Participants have expressed increased confidence, improved social connections, and a sense of belonging to the local arts community.

Recognition of Daryll Duncan’s Contribution:

We are proud that Daryll, our Peer Support Worker, has been shortlisted for the Community Champion Award in the Greater Manchester Health and Care Champion Awards 2023. This recognition reflects Daryll's outstanding work in supporting and encouraging new individuals as they join Proud and Loud Arts. Daryll's presence has had a positive impact on welcoming new members and creating a supportive environment within our organi s ation.

The recognition of Daryll's contribution highlights the positive and lasting impact of our project on individuals' lives. We are also in the process of turning the voluntary role of the Peer Support Worker into a paid opportunity, ensuring sustainable support and further development of our organisation.

A Bright Future:

We are delighted and proud to have been awarded National Portfolio Organisation Status by Arts Council England securing our future for the next three years.

FINANCIAL REVIEW

Overview

Our income more than doubled this year as we were successful in securing additional funding to meet the challenges of the pandemic. We had a deficit on unrestricted funds of c£7k, and restricted fund balances carried forward fell by c£2K.

Reserves Policy

The Trustees reserves policy for the charity for free reserves (unrestricted funds not invested in fixed assets or otherwise designated) is to try to build free reserves to between three and six months operating costs, which would equate to between £27k and £56k.

At the year end the charity had free reserves of £ (2022 - £30,489) a decrease of £7,768.

REVIEW OF RISKS

The Trustees have considered the major risks facing the charity and have put in place appropriate policies and procedures to mitigate them.

COVID 19 and going concern

We have considered whether in the light of the ongoing pandemic caused by COVID 19 we are entitled to prepare the accounts on the going concern basis. We have concluded that we are because:

4

PROUD & LOUD ARTS TRUSTEES AND DIRECTORS REPORT FOR THE YEAR ENDED MARCH 31 2023

THE FUTURE

1) Strategy moving forward

By developing our understanding of digital engagement, we have sustained our membership this year. This indicates that we are continuing to successfully enact our plan for growth and continue to focus our efforts on:

In the next twelve months we will endeavour to:

STRUCTURE GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated May 9 2011. It is registered as a charity with the Charity Commission.

Members and the appointment of Directors and Trustees

The directors have the power to admit a person as a member and on admittance they become a director of the company. The minimum number of members and directors is three and the maximum twelve.

Trustee recruitment, induction and training

The Directors, who are the Trustees, are collectively known as the Board. Potential trustees are request to provide a CV and a covering letter, for consideration by the Board. Candidates are invited to a Thursday evening workshop to determine how they interact with members and then interviewed by a panel of three Trustees, one of whom is a Trustee member of the subscribing performance group. The panel makes a recommendation to the Board which determines whether they are suitable to be invited onto the Board.

New Trustees are provided with a copy of the Charity Commissions leaflet for new Trustees, ' the essential trustee: what you need to know, what you need to do' (CC3), copy of Articles and recent Annual Report and Accounts. They also receive a briefing by the current Chair. New Trustees serve a probationary period of six months before their appointment to the board is confirmed. This provides both new Trustees and Proud & Loud Arts with the opportunity to review the relationship and to terminate the appointment without notice and without prejudice, if it is not working for whatever reason for either party.

Organisation

The Board administers the Charity and meets as necessary, usually 6-8 times per annum with further meetings taking place on an ad hoc basis to discuss and address specific issues that arise. These additional meetings do not normally require attendance by the full board, but instead will call upon the expertise of individual board members, e.g. finance, strategic business planning, fundraising etc.. The day to day operations of the Charity are the responsibility of the Artistic Director, Tom Hogan, to whom the Trustees have delegated authority for operational matters including finance, employment and

5

PROUD & LOUD ARTS TRUSTEES AND DIRECTORS REPORT FOR THE YEAR ENDED MARCH 31 2023

artistic development, within the overall strategy agreed by the Board.

6

PROUD & LOUD ARTS TRUSTEES AND DIRECTORS REPORT FOR THE YEAR ENDED MARCH 31 2023

DIRECTORS RESPONSIBILITIES

Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of the Company and of the surplus or deficit of the Company for that period. In preparing those financial statements the Directors have:-

The Directors are responsible for keeping records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking steps for the prevention and detection of fraud and other irregularities.

SMALL COMPANY PROVISIONS

In preparing this report advantage has been taken of the small companies’ exemption.

Approved by the Board and signed on their behalf by:

Janet Butler - Director

Date: 13 / 11/ 2023

7

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF PROUD & LOUD ARTS ON THE UNAUDITED ACCOUNTS FOR THE YEAR ENDED MARCH 31 2023

I report to the charity trustees on my examination of the accounts of the company for the year ended March 31 2023 which are set out on pages 13 to 21.

Responsibilities and basis of report

As the charity 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 company’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 that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

Stacy Mason HGA Accountants & Financial Consultants Ltd t/a Chittenden Horley Chartered Accountants : Charity Specialists

Hyde Park House Cartwright Street, Newton Manchester SK14 4EH Date:

8

PROUD & LOUD ARTS STATEMENT OF FINANCIAL ACTIVITIES (including the income & expenditure account) FOR THE YEAR ENDED MARCH 31 2023

PROUD & LOUD ARTS

STATEMENT OF FINANCIAL ACTIVITY (Including Income and Expenditure Account) FOR THE YEAR ENDED MARCH 31 2023

Notes
Incoming resources from generated funds:
Donations
2
Charitable activities
3
Investment income - bank interest
TOTAL INCOME
EXPENDITURE
Cost of generating funds
Expenditure on charitable activities
4
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)		 Unrestricted
Funds
£
16,571
8,902
-		 Restricted
Funds
£
-
66,338
-		 Total
2023
£
16,571
75,240
-		 Total
2022
£
25,985
117,506
2
25,473 66,338 91,811 143,493
38,481 -
94,204		 -
132,685		 -
153,963
38,481 94,204 132,685 153,963

The notes on pages 15 to 21 form part of these financial statements.

9

PROUD & LOUD ARTS BALANCE SHEET AS AT MARCH 31 2023

The notes on pages 11 to 16 form part of these accounts.

PROUD & LOUD ARTS

BALANCE SHEET AS AT MARCH 31 2023

Notes
FIXED ASSETS
Tangible fixed assets
7
CURRENT ASSETS
Debtors
7
Cash at Bank and in Hand
CREDITORS
Amounts falling due in one year
8		 2023
2023
£
£
6,986
2,336
71,139
73,475
2,390		 2022
2022
£
£
8,950
10,046
166,190
176,236
66,241

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

For the year ending March 31 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and no notice has been deposited under section 476 requiring the company to obtain an audit of its accounts for the year in question.

Directors’ responsibilities

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The notes on pages 15 to 21 form part of these financial statements.

Approved by the Board and authorised for issue on: 13/11/ 2023

And signed on their behalf by:

Janet Butler – Director

Company registration number 07627420

10

PROUD & LOUD ARTS NOTES TO THE ACCOUNTS FOR YEAR ENDED MARCH 31 2023

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared: under the historic cost convention; in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective January 1 2015; FRS102; and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS102.

The accounts are prepared in £ sterling, the functional currency of the charity.

Statement of Cash Flows

Advantage is taken of the exemptions from preparing a Statement of Cash Flows as set out in update bulletin 1 to the SoRP.

Income recognition

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 income receivable can be measured reliably. The following applies to particular types of income:

Grants , whether of a capital or revenue nature, are recognised when the charity has entitlement to the funds, any performance conditions have been met and it is probable that the income will be received.

Donations from individuals and other bodies (not being of the nature of a grant) are recognised when receivable.

Earned income is measured at the fair value of the consideration received or receivable for services and goods supplied, net of discounts.

Deferred income

Income is only deferred and included in creditors when:

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds

including those associated with fundraising activities, managing investments and commercial trading by the subsidiary company.

Charitable activities costs of undertaking the work of the charity.

The charity is not registered for VAT and is unable to recover input tax. Costs are stated inclusive of VAT were charged.

Allocation of support costs

Support costs are those functions which assist the work of the charity either by supporting the delivery of charitable activities or by supporting the generation of funds.

11

PROUD & LOUD ARTS NOTES TO THE ACCOUNTS FOR YEAR ENDED MARCH 31 2023

1 ACCOUNTING POLICIES (continued)

Tangible fixed assets and depreciation

Individual fixed assets costing less than £500 and not forming part of a series of related purchases are not capitalised, but are written off as revenue expenditure in the year of acquisition. Allowing for residual values, depreciation is charged at:

Equipment 20% pa straightline

Debtors

Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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.

Financial instruments

The charity has only basic financial instruments which are initially recorded at cost, subsequently measured at their settlement value.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

12

PROUD & LOUD ARTS

NOTES TO THE ACCOUNTS FOR YEAR ENDED MARCH 31 2023
Unrestricted
2 DONATIONS
£
ACE Emergency Funding
-
ACE - Cultural Recovery Fund 1
-
Awards For All
-
Arnold Clark Community Fund - COVI
-
Donations
General
583
Spaced
-
Membership fees
15,989
16,571
3 INCOME FROM CHARITABLE ACTIVITIES
Project grants
Accessable Pathways
ACE
5,716
AFA 21
National Lottery A4A
Spaced
Manchester Guardian Society
Charitable Trust
-
21+ Project
ACE - NLPG
-
The Leri Charitable Trust
-
Staring ATW
ACE
-
WEA - ESF 2
WEA - Trafford Group
-
5,716
Earned income
Fees and ticket sales
2,858
Transport contribution
329
3,186
Total
8,902		 2023 Unrestricted 2022
Restricted
Total
Unrestricted Restricted Total
£
-
-
-
-
-
-		 £
-
-
-
-
583
-
15,989		 £
-
-
-
-
2,526
-
9,788		 £
£
-
-
12,671
12,671
-
-
1,000
1,000
-
2,526
-
-
-
9,788
13,671
25,985
63,815
63,815
9,943
9,943
-
-
-
-
-
-
18,871
18,871
16,414
16,414
(98)
(98)
108,945
108,945
-
8,561
-
-
-
8,561
108,945
117,506
16,571 - 16,572 12,314
2,205
9,920
2,197
42,525
-
5,945
3,546
-		 7,921
9,920
2,197
42,525
-
5,945
3,546
-		 -
-
-
-
-
-
-
-
5,716 66,338 72,054 -
2,858
329		 -
-		 2,858
329		 8,561
-
3,186 - 3,187 8,561
8,902 66,338 75,241 8,561

13

PROUD & LOUD ARTS

NOTES TO THE ACCOUNTS FOR YEAR ENDED MARCH 31 2023

Earned income

Earned income
Fees and ticket sales
Transport contribution
Total		 2,858
329		 -
-		 2,858
329		 8,561
-		 -
-		 8,561
-
3,186 - 3,187 8,561 - 8,561
8,902 66,338 75,241 8,561 108,945 117,506

PROUD & LOUD ARTS

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED DECEMBER 31 2023

4 CHARITABLE EXPENDITURE

Direct costs
Creative freelance frees
Access freelance fees
Equipment purchases
Other fees
Other project costs
Travel & subsistence
Marketing & promotion
Insurance
Support costs & governance
Administration fees
Office costs
Accountancy & legal fees
Depreciation
Charged to restricted funds		 Unrestricted 2023
Restricted		 Total Unrestricted 2022
Restricted		 Total
£
43,904
15,349
-
17,600
15,225
1,168
1,690
-
1,685
32,834
1,265
1,965
(94,204)		 £
-
-
-
-
-
-
-
-
-
-
-
94,204		 £
43,904
15,349
-
17,600
15,225
1,168
1,690
-
-
1,685
32,834
1,265
1,965
-		 £
50,348
30,456
9,253
21,330
7,249
3,395
8,377
802
4,153
13,027
3,608
1,965
(90,095)		 £
-
-
-
-
-
-
-
-
-
-
-
90,095		 £
50,348
30,456
9,253
21,330
7,249
3,395
8,377
802
4,153
13,027
3,608
1,965
-
38,481 94,204 132,685 63,868 90,095 153,963

5 NET INCOMING RESOURCES AFTER TRANSFERS

NET INCOMING RESOURCES AFTER TRANSFERS
This is stated after charging/(crediting):
Accountant/Independent examiner's fees
Report
Accountancy
Under/(over) accrual prior year
Directors' remuneration
Trustees' expenses
number of trustees claiming expenses		 2023
£
600
665
-
-
Number		 2022
£
550
1,178
-
-
-
Number
0

14

PROUD & LOUD ARTS NOTES TO THE ACCOUNTS FOR YEAR ENDED MARCH 31 2023

PROUD & LOUD ARTS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED MARCH 31 2022

7 TANGIBLE FIXED ASSETS

Cost or valuation
As at April 1 2022
Additions
As at March 31 2023
Depreciation
As at April 1 2022
Charge for the year
As at March 31 2023
Net Book Value
As at March 31 2023
As at April 1 2022
8 DEBTORS
Income receivable
Prepayments & other debtors
9 CREDITORS falling due within one year
Deferred income
Funds in trust
Accruals		 2023
£
2,336
-		 Equipment
£
10,915
-		 Total
£
10,915
-
10,915 10,915
1,965
1,964		 1,965
1,964
3,929 3,929
6,986 6,986
8,950 8,950
2022
£
10,046
-
2,336 10,046
-
450
1,940		 7,500
58,001
740

15

PROUD & LOUD ARTS NOTES TO THE ACCOUNTS FOR YEAR ENDED MARCH 31 2023

10 STATEMENT OF FUNDS

Unrestricted funds:
General fund
Total unrestricted funds
Restricted Funds:
Revenue Funding
ACE - CRF 1
Other Covid funding
Duchy Of Lancaster (equipment)
Forever Manchester - training
Manchester Guardian Society
Charitable Trust - computers
Poject funding
Accessable Pathways
A4A 21
Spaced
21+ Project
Staring ATW
WEA - ESF 2
WEA - Trafford Group
ACE - Tate
ACE - NLPG
Salford CVS
Total restricted funds		 01/04/2021
£
46,073		 2021/22
Income
Expenditure
£
£
20,877
(46,930)
20,877
(46,930)
12,671
(45,694)
1,000
(1,000)
-
(1,860)
-
(1,135)
-
-
63,815
-
9,943
(6,335)
-
(1,092)
-
(12,908)
18,871
(7,822)
16,414
(16,414)
(98)
(12,774)
-
-
-
-
-
-
122,616
(107,034)
143,493
(153,964)		 2021/22
Income
Expenditure
£
£
20,877
(46,930)
20,877
(46,930)
12,671
(45,694)
1,000
(1,000)
-
(1,860)
-
(1,135)
-
-
63,815
-
9,943
(6,335)
-
(1,092)
-
(12,908)
18,871
(7,822)
16,414
(16,414)
(98)
(12,774)
-
-
-
-
-
-
122,616
(107,034)
143,493
(153,964)		 transfers
£
19,419		 b/f and c/f
31/03/2022
01/04/2022
£
39,439		 Income
£
25,473		 2022/23
Expenditure
transfers
31/03/2023
£
£
£
(38,481)
(1,929)
24,502		 2022/23
Expenditure
transfers
31/03/2023
£
£
£
(38,481)
(1,929)
24,502
46,073 20,877 (46,930) 19,419 39,439 25,473 (38,481) (1,929)
24,502
52,442
-
1,860
2,169
-
-
1,092
12,908
-
-
12,872
-
-
-		 12,671
1,000
-
-
-
63,815
9,943
-
-
18,871
16,414
(98)
-
-
-		 (45,694)
(1,000)
(1,860)
(1,135)
-
-
(6,335)
(1,092)
(12,908)
(7,822)
(16,414)
(12,774)
-
-
-		 (19,419)
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
1,034
-
63,815
3,608
-
-
11,049
-
-
-
-
-		 -
-
-
-
-
2,205
9,920
2,197
-
-
3,546
-
5,945
42,525
-		 -
-
-
(1,034)
-
(66,020)
(10,086)
-
(9,249)
(3,546)
-
(4,269)
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
3,442
1,929
4,126
-
-
-
1,800
-
-
-
-
1,676
-
42,525
-
-
83,343 122,616 (107,034) (19,419) 79,506 66,338 (94,204) 1,929
53,569
129,416 143,493 (153,964) - 118,945 91,811 (132,685) -
78,071

Transfers

Transfer from ACE CRF1 to unrestricted funds has been made in respect of equipment purchased and capitalised (£7,816).

A transfer of £2,109 has been made from unrestricted funds to WEA -Trafford Group in respect of the overspend on the project.

16

PROUD & LOUD ARTS NOTES TO THE ACCOUNTS FOR YEAR ENDED MARCH 31 2023

PROUD & LOUD ARTS

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED MARCH 31 2023

10 STATEMENT OF FUNDS (continued)

Restricted fund balances:

All these funds are expected to be utilised in 2023/24.

11 ANALYSIS OF COMPANY NET ASSETS BETWEEN FUNDS

Fund balances at March 31 2023 are represented by:-
Fixed assets
Net current assets
Fund balances at March 31 2022 are represented by:-
Net current assets		 Unrestricted
Funds
£
6,986
17,516		 Restricted
Funds
£
-
53,569		 Total
£
6,986
71,085
24,502 53,569 78,071
8,949
30,489		 -
79,506		 8,950
109,995
39,438 79,506 118,945

12 CONSTITUTION

The Company is limited by guarantee and does not have a share capital. In the event of the Company being wound up the members are committed to contributing £1 each.

13 TAXATION

The Company is a registered charity and is entitled to claim annual exemption from UK corporation tax.

17