**Registered number: 07760504 Charity number: 1144945**
## **ST MARY'S ART TRUST**
## **UNAUDITED**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **ST MARY'S ART TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 6|
|**Independent examiner's report**|7|
|**Statement of financial activities**|8|
|**Balance sheet**|9|
|**Notes to the financial statements**|10 - 24|
|The following pages do not form part of the statutory financial statements:||
|**Schedule 1 to the Statement of Financial Activities**|25|
|**Schedule 2 to the Statement of Financial Activities**|26|
**ST MARY'S ART TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
**Trustees** Mr K C Blanshard Mr R B Davis (resigned 16 January 2020) Mrs M Burge Mrs R Spicer Dr T G Bushnell (appointed 16 January 2020) Mrs L L Wraxall Mr D O Smith **Company registered number** 07760504 **Charity registered number** 1144945 **Registered office** 18 North Street Ashford Kent TN24 8JR **Company secretary** Mr R B Davis **Accountants** Magee Gammon Corporate Limited Chartered Accountants Henwood House Henwood Ashford Kent TN24 8DH **Bankers** Metro Bank Plc One Southampton Row London WC1B 5HA CAF Bank Limited PO Box 289 West Malling Kent ME19 4TA
Page 1
## **ST MARY'S ART TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees present their annual report together with the financial statements of the Company for the year from 1 January 2020 to 31 December 2020. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
The objects of the Trust, as stated in the Memorandum and Articles, are to promote, maintain and advance education, particularly by the encouragement of the arts including, but not limited to, the arts of drama, ballet, music, singing, literature, sculpture and painting, to provide facilities for a programme of arts at the Church of St Mary the Virgin, Ashford, Kent or other suitable venues in Ashford for the benefit of the inhabitants and visitors to the Borough of Ashford.
Our main activity during the period under review has been the promoting of concerts and other arts events in the St Mary the Virgin Church in Ashford town Centre. The venue is also hired out to arts promoters and local arts organisations.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives, and in planning future activities.
## **Achievements and performance**
## **a. Our artistic values**
We aim to develop St Mary’s Church, under the banner of Revelation Ashford, as the focal point for arts in Ashford, where people actively choose to enjoy and experience high quality arts of various types with carefully programmed arts opportunities catering both local residents and the national arts attending public. We are in a Growth Phase of a 10-year plan, which focuses on securing a high-quality arts programme, organisational development and financial stability to support these important ambitions.
Page 2
**ST MARY'S ART TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Achievements and performance (continued)**
## **b. Review of activities**
2020 has been the most challenging year in the Trust’s history, with a pandemic resulting in the closure of the venue from March 2020 - December 2020 inclusive. Despite this St Mary's Arts Trust remained optimistic, flexible and resilient, resulting in us completing year 2 of our 2 year Arts Council England funded project ‘ _Knowing Me, Knowing You’_ ; and retaining our valued sponsorship by both Chapel Down and Airfield Design. Final delivery was moved online, resulting in us reaching new audiences, both national and international, who were not previously able to engage with us and opening up new avenues for exploration in the coming years.
Our three programming strands: _At Revelation_ ; _Made in Kent;_ and _Make It Happen;_ continue to provide a strong organisational and strategic focus.
Despite closure of our main space, when restrictions eased we were able to deliver; 12 outdoor music events funded by Ashford Borough Council in the town centre; 12 online music and writing sessions; 6 schools online workshops; 2 commissions; and rescheduled a number of events into 2021. We also took a healthy number of future bookings for 2022 and 2023, reinforcing relationships with external organisations and promoters.
Before lockdown in March 2020 – we had delivered sell out ‘big name’ events, including Turin Breaks and Andy Parsons, a writing commission by White Rabbit and several children’s theatre and film events.
Two team members moved on to new roles just prior to lockdown. They will be replaced as soon as we are able to resume our role as a live venue, and in the meantime there are important salary savings.
We welcomed one new member of staff in the year, a finance and administration coordinator, who has settled in very well, bringing in more streamlined and efficient financial systems.
A strong strategic focus also ensured that the majority of events in 2020 have shown a trading surplus, which helps us to consolidate our financial position as we move into 2021.
Our prompt and successful grant applications to Arts Council England for ‘Emergency’ and ‘Cultural Recovery’ Grant support, together with Government Business grants and Ashford Council project and core grants, ensured our survival and allowed us to build an eight week reserve fund. A successful crowdfunder campaign raised almost £3,000 from our supporters, and attracted a further £1,500 in Member grants, demonstrating a high level of support from our audiences and community.
More than ever before, 2020 brought unique challenges for any small organisation. I thank all of our Staff, Freelancers, Volunteers and Trustees, as well as our partners at St. Mary’s Church and Ashford Borough Council, for their hard work and assistance, which was crucial in meeting those challenges.
## Highlights and successes
- Delivering a busy outdoor and online programme during a pandemic;
- Extending our audience reach nationally and internationally with workshop participants as far afield as, Ireland, Jersey Merseyside, Scotland and Florida USA;
- Launch of a successful online merchandise store – selling unique artist designed items, supported by our ambassador Dave McKean who kindly donated his unique art designs for reproduction on a variety of items;
- Entering Year 2 of a 3-year core funding agreement with Ashford Borough Council, to run from April 2019April 2021. As described above, this partnership has underpinned our success. Further funding from Ashford Borough Council secured our Bandstand programming;
- Completing year 2 of two on-going Arts Commissions: _Cardboard Orchestra/Carol of The Sea Swallows_ and _Revelation by Candlelight/Wonder._ We continued to develop this outreach programme while in lockdown by moving activities online: working with schools across the district; and initiating successful and fully booked creative writing workshops;
- Created the online ‘Rev Sessions’ music programme –supporting otherwise unemployed artists with an online ‘venue’ and providing free entertainment to retain our audience;
Page 3
**ST MARY'S ART TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Achievements and performance (continued)**
- Developing relationships with large promoters, who are now coming to us with bigger names, which will strengthen our programming in the future;
- Highly successful fundraising, to securing the organisation’s future beyond the pandemic, and creating a reserves fund in line with our reserves policy.
## Challenges
- Covid 19 continues to be a challenge for us, now and for the foreseeable future. We will respond positively to all requirements and look at alternative ways to fulfil our mission of delivering high quality cultural activity, if we are unable to open due to restrictions;
- Maintaining a public profile and active programme during a time of uncertainty;
- Ensuring audiences feel safe enough to return to the live space by visibly implementing and rigorous Covid compliant measures, and promoting them online and at venues;
- Sustainable organisational funding is an ongoing challenge, especially during a time of pandemic, and we continue to look at SMART ways of working;
- Sponsorship development is a high priority and we will continue to recruit new Sponsors and Ambassadors to actively promote and support Revelation and its work;
- Our Volunteer recruitment and retention programme remains essential for successful operation of our events. There is always turnover in volunteers. For some, their time is too valuable, for others, like Ashford College Students, there is a natural cycle. Our recruitment/retention drive must continue, via ongoing training and networking events. An additional issue is ensuring, as far as possible, that we protect them while working at events from Covid risks. To this end our Covid policy and procedures will be reviewed and updated regularly;
- We need reduce risk to the organisation by increasing revenue from hires, which inherently reduce financial risk and add value through a more diverse programme. Alongside this we continue to explore ways of working with promoters to mutually share and reduce event risk;
- Ensuring we are aware of competition and our role in the marketplace. We need to monitor programming at other venues, look to work in partnership with them, and take a lead on a strategic approach to music development in Ashford;
- Audience development continues to be vital. We are working with programmers, agents and artists, trying new things and identifying audience trends, within the strategic focus of our three programming strands, as above.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **b. Reserves policy**
Revelation aims to hold sufficient reserves to cover three months of operational costs. This means reserves need to increase to match. In the context of Revelation’s artistic and financial plans, the Board was pleased this year most events showed a trading surplus. This has meant the Board has confidence that the next period will see the charity continue to build towards this target, while recognising the operational challenges of the current economic and fundraising climate.
Page 4
**ST MARY'S ART TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **c. Financial risk management objectives and policies**
The Trustees have considered the risks to which the Trust is exposed including financial and non-financial risks. They will continue to implement a risk management strategy which comprises an annual review of the risks the charity may face. Procedures have been established to mitigate the identified risks and to monitor any new risks which may arise from time to time as the arts programme develops.
## **Structure, governance and management**
## **a. Constitution**
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 2nd September 2011.
The company is constituted under a Memorandum of Association dated 2nd September 2011 and is a registered charity number 1144945.
## **b. Methods of appointment or election of Trustees**
The Board of Trustees consists of six trustees of whom three, including the Chairman, are appointed by the Parochial Church Council. Three Trustees are nominated by Ashford Borough Council, one an elected member and two Trustees are drawn from the local music and arts community. Newly appointed Trustees are provided with an induction pack with all constitutional and operational information, policies and procedures and they will meet the Chairman and Chief Executive for a full induction and relevant training.
The Trustees are supported by a full time Chief Executive and part time Administrator. All matters of principle are agreed by the Trustees whilst the implementation of the policies agreed is delegated to staff and volunteers. The day to day operations of the charitable company are dealt with by the Chief Executive.
The Trustees work closely with Ashford Borough Council and particularly the Council’s Arts and Cultural Industries Manager, Chris Dixon.
## **Plans for future periods**
The Trust plans to continue its activities in 2021. The Trustees are pleased to see several events postponed into 2021 and a strong number of future bookings for 2022 and 2023.
The Trust aims to promote at least 24 music events per year, sustaining and extending the high quality of programming throughout the year, in particular, broadening the musical styles involved from popular folk and contemporary acts to include classical and cross genre work. The programme will continue to encourage professional development of artists; support a burgeoning creative sector and local arts and marketing network; and engage young people and local communities through the development of integrated education and outreach projects.
Page 5
**ST MARY'S ART TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' 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 . 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 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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 Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 9 September 2021 and signed on their behalf by:
___________________________
**Mr K C Blanshard** Chairman
Page 6
**ST MARY'S ART TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent examiner's report to the Trustees of St Mary's Art Trust ('the Company')**
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the Trustees of the Company (and 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 the Company's accounts 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:
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.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the 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 Company and the Company's Trustees as a body, for my work or for this report.
Signed:
Dated: 9 September 2021
Andrew John Childs FCA
## **Magee Gammon Corporate Limited**
Chartered Accountants Henwood House Henwood Ashford Kent TN24 8DH
Page 7
**ST MARY'S ART TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
£
34,403
16,233
14
50,650
43,801
43,801
6,849
5,257
6,849
12,106|**Restricted**
**funds**
**2020**
£
97,159
-
-
97,159
59,042
59,042
38,117
57,093
38,117
95,210|**Total**
**funds**
**2020**
£
131,562
16,233
14
147,809
102,843
102,843
44,966
62,350
44,966
107,316||Total
funds
2019
£
90,436
67,301
30|
|---|---|---|---|---|---|
||||||157,767
166,058|
||||||166,058
(8,291)
70,641
(8,291)|
||||||62,350|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 24 form part of these financial statements.
Page 8
## **ST MARY'S ART TRUST REGISTERED NUMBER: 07760504**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
16
Unrestricted funds
16
**Total funds**|1,390
3,438
94,193
99,021
(5,660)|**2020**
£
13,955
93,361
107,316
95,210
12,106
107,316|313
5,364
46,543
52,220
(8,953)||2019
£
19,083
43,267|
|---|---|---|---|---|---|
|||||||
||||||62,350|
||||||57,093
5,257|
|||||||
||||||62,350|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 09 September 2021 and signed on their behalf by:
## ___________________________ **Mr K C Blanshard**
___________________________ **Mr R B Davis**
The notes on pages 10 to 24 form part of these financial statements.
Page 9
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. General information**
St Mary's Arts Trust is a private, limited company by guarantee, incorporated in England and Wales. The company registration number is 07760504.
The registered office address is 18 North Street, Ashford, England, TN24 8JR.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
St Mary's Art Trust 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.
## **2.2 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.4 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of Financial Activities as the related expenditure is incurred.
Page 10
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Taxation**
The Company 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 Company 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.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, as below.
Depreciation is provided on the following bases:
- Office equipment 2 - 5 Years Straight Line - PA equipment 2 - 5 Years Straight Line
## **2.8 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 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.
Page 11
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## **2.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.12 Financial instruments**
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.13 Pensions**
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
## **2.14 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 12
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. Income from donations and legacies**
|Donations
Grants
Total 2019|**Unrestricted**
**funds**
**2020**
£
2,827
31,576
34,403
308|**Restricted**
**funds**
**2020**
£
-
97,159
97,159
90,128|**Total**
**funds**
**2020**
£
2,827
128,735
131,562
90,436||Total
funds
2019
£
308
90,128|
|---|---|---|---|---|---|
||||||90,436|
|||||||
## **4. Income from charitable activities**
|Operation of Arts Centre
Total 2019
**Investment income**
Investment income
Total 2019|**Unrestricted**
**funds**
**2020**
£
16,233
67,301
**Unrestricted**
**funds**
**2020**
£
14
30|**Total**
**funds**
**2020**
£
16,233
67,301
**Total**
**funds**
**2020**
£
14
30|Total
funds
2019
£
67,301|
|---|---|---|---|
||||Total
funds
2019
£
30|
|||||
## **5. Investment income**
Page 13
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Operation of Arts Centre
Total 2019|**Unrestricted**
**funds**
**2020**
£
43,801
63,961|**Restricted**
**funds**
**2020**
£
59,042
102,097|**Total**
**funds**
**2020**
£
102,843
166,058|Total
funds
2019
£
166,058|
|---|---|---|---|---|
||||||
## **7. Analysis of expenditure by activities**
|Operation of Arts Centre
Total 2019|**Activities**
**undertaken**
**directly**
**2020**
£
102,843
166,058|**Total**
**funds**
**2020**
£
102,843
166,058|Total
funds
2019
£
166,058|
|---|---|---|---|
|||||
Page 14
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Depreciation
Guest artists' fees - Revelation St Mary's
Riders and accommodation costs
Creative Programmer fees
Consultancy fees
Event staff
Advertising - events
Purchases of bar stock
Insurances
Utilities
Staff and volunteer expenses
Printing and stationery
Freelance
Brochure distribution
Telephone and postage
Merchandise
PA engineers and equipment hire
Photographer fees
Subs and donations
Licences
Equipment purchased
Cleaning and recycling
Sundry expenses
Security
Bank and credit card charges
Training and development
Office
Event equipment hire
Governance costs|**Total**
**funds**
**2020**
£
41,146
5,128
13,560
-
305
7,114
2,379
2,988
897
-
3,391
123
799
-
360
2,327
2,695
580
-
557
18
298
4,432
1,308
-
390
-
9,000
-
3,048
102,843|Total
funds
2019
£
54,446
5,186
44,775
560
398
7,725
6,945
7,645
1,970
641
3,576
411
1,692
450
960
2,628
-
2,562
200
846
2,062
2,859
1,821
2,389
297
1,043
134
8,500
759
2,578|
|---|---|---|
|||166,058|
Page 15
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **8. Independent examiner's remuneration**
||**2020**|2019|
|---|---|---|
||£|£|
|Fees payable to the Company's independent examiner for the independent|||
|examination of the Company's annual accounts|2,034|2,140|
|Fees payable to the Company's independent examiner in respect of:|||
|All other services not included above|1,014|438|
## **9. Staff costs**
|Wages and salaries
Social security costs
Other pension costs|**2020**
£
40,181
215
750
41,146|2019
£
53,781
-
665|
|---|---|---|
||||
|||54,446|
The average number of persons employed by the Company during the year was as follows:
||**2020**|2019|
|---|---|---|
||**No.**|No.|
|Employees|2|3|
No employee received remuneration amounting to more than £60,000 in either year.
## **10. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 31 December 2020, no Trustee expenses have been incurred (2019 - £NIL).
Page 16
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**11.**
**Tangible fixed assets**
**Cost or valuation**
At 1 January 2020
At 31 December 2020
**Depreciation**
At 1 January 2020
Charge for the year
At 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019
**12.**
**Stocks**
Merchandise stock
Bar stock
**13.**
**Debtors**
**Due within one year**
Other debtors
Grants receivable|**2020**
£
1,077
313||Office
equipment
£
36,742
36,742
17,659
5,128
22,787
13,955
19,083
2019
£
-
313|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
||1,390||313|
||**2020**
£
2,024
1,414||2019
£
5,364
-|
|||||
||3,438||5,364|
Page 17
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **14. Creditors: Amounts falling due within one year**
|Other taxation and social security
Other creditors
Accruals and deferred income|**2020**
£
1,860
1,610
2,190
5,660|2019
£
1,556
5,231
2,166|
|---|---|---|
||||
|||8,953|
## **15. Financial instruments**
||**2020**|2019|
|---|---|---|
||£|£|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|94,193|46,543|
Financial assets measured at fair value through income and expenditure comprise cash held at bank.
Page 18
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **16. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Ashford Borough Council - Main Grant
Ashford Borough Council - Members Grant
Ashford Borough Council - Film Fund
Ashford Borough Council - Bandstand Grant
Ashford Borough Council - Section 106 Fund
Kent Community Foundation Grant
Kent County Council
SECCADS
Ashford Borough Council - Capital
Capital Grants
Arts Council - Main Grant
Arts Council - Culture Recovery Fund
**Total of funds**|Balance at 1
January
2020
£
5,257
7,500
334
-
-
34,908
2,500
-
2,675
8,000
1,176
-
-
57,093
62,350|Income
£
50,650
30,000
-
1,140
11,100
-
-
394
-
-
-
1,414
53,111
97,159
147,809|Expenditure
£
(43,801)
(30,000)
(171)
(975)
(4,089)
(9,570)
(2,000)
-
(669)
(2,000)
(470)
(1,414)
(7,684)
(59,042)
(102,843)||Balance at
31
December
2020
£
12,106|
|---|---|---|---|---|---|
||||||7,500
163
165
7,011
25,338
500
394
2,006
6,000
706
-
45,427|
||||||95,210|
||||||107,316|
Page 19
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **16. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Ashford Borough Council - Main Grant
Ashford Borough Council - Members Grant
Ashford Borough Council - Film Fund
Ashford Borough Council - Bandstand Grant
Ashford Borough Council - Section 106 Fund
Other Grants
Kent Community Foundation Grant
Kent County Council
Ashford Borough Council - Create
SECCADS
Ashford Borough Council - Capital
Capital Grants
Arts Council - Main Grant
**Total of funds**|Balance at
1 January
2019
£
1,579
-
505
-
-
49,729
-
-
-
-
-
-
1,646
17,182
69,062
70,641|Income
£
67,639
30,000
-
855
11,150
-
250
2,500
3,555
4,145
3,344
10,000
-
24,329
90,128
157,767|Expenditure
£
(63,961)
(22,500)
(171)
(855)
(11,150)
(14,821)
(250)
-
(3,555)
(4,145)
(669)
(2,000)
(470)
(41,511)
(102,097)
(166,058)||Balance at
31
December
2019
£
5,257|
|---|---|---|---|---|---|
||||||7,500
334
-
-
34,908
-
2,500
-
-
2,675
8,000
1,176
-|
||||||57,093|
||||||62,350|
Page 20
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **17. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds
**Summary of funds - prior year**
General funds
Restricted funds|Balance at 1
January
2020
£
5,257
57,093
62,350
Balance at
1 January
2019
£
1,579
69,062
70,641|Income
£
50,650
97,159
147,809
Income
£
67,639
90,128
157,767|Expenditure
£
(43,801)
(59,042)
(102,843)
Expenditure
£
(63,961)
(102,097)
(166,058)||Balance at
31
December
2020
£
12,106
95,210|
|---|---|---|---|---|---|
||||||107,316|
||||||Balance at
31
December
2019
£
5,257
57,093|
||||||62,350|
Page 21
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **18. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2020**
£
Tangible fixed assets
5,080
Current assets
12,686
Creditors due within one year
(5,660)
**Total**
12,106
**Analysis of net assets between funds - prior period**
Unrestricted
funds
2019
£
Tangible fixed assets
6,898
Current assets
7,312
Creditors due within one year
(8,953)
**Total**
5,257|**Restricted**
**funds**
**2020**
£
8,875
86,335
-
95,210
Restricted
funds
2019
£
12,185
44,908
-
57,093|**Total**
**funds**
**2020**
£
13,955
99,021
(5,660)
107,316
Total
funds
2019
£
19,083
52,220
(8,953)
62,350|
|---|---|---|
Page 22
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **19. Restricted funds**
## **Current Funds** :
## Ashford Borough Council - Core Grant
Ashford Borough Council awarded the Trust a grant of £90,000 payable in installments over three years. The grant was principally to support the salaries of a full time Chief Executive and a part time Administrative Assistant to develop the programme of music and arts.
## Ashford Borough Council - Film Fund
Ashford Borough Council awarded the trust grants to assist with the costs associated with running family film events.
## Ashford Borough Council - Bandstand
The trust received funding towards the "Bandstand" project from Ashford Borough Council.
## The Kent Community Foundation Grant
The trust received a grant from the Kent Community Foundation to assist with the costs of the Cardboard Orchestra Project running in 2020.
Kent County Council - Arts Investment Fund
This funding is towards the costs of Kent County Artistic projects undertaken from June 2017.
## Arts Council England - Main Grant
Arts Council England awarded the Trust a grant of £60,822 payable in installments over two years towards the "Knowing Me Knowing You" project.
## Ashford Borough Council - Section 106 Fund
This grant is to be used towards new office facilities for the charity.
## - Arts Council England Culture Recovery Fund
The trust was awarded a grant from the Arts Council England to assist with the organisation's long term sustainability after the impact of the Covid-19 pandemic.
## **Capital Funds:**
Ashford Borough Council - Members Grant
The Trust received a grant under the Ashford Borough Council Members Grants scheme to assist with the cost of event equipment and website development. The associated assets are being depreciated over their expected useful life.
## SECCADS Grant
The Trust received a grant from the SECCADS scheme to assist with the cost of event equipment. The associated assets are being depreciated over their expected useful life.
## Capital Grants
The Trust was awarded the grants towards its continuing acquisition of event and office equipment. The equipment is being capitalised as it is purchased and depreciated over its expected useful life.
## **Funds Completed in the Previous Year:**
## Ashford Borough Council - Create Grant
Ashford Borough Council awarded the trust a grant of £4,145 to assist with the cost of artist's fees in relation to the stand held at the annual Create festival. This grant was fully expended during the previous year.
Page 23
**ST MARY'S ART TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **20. Pension commitments**
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £750 (2019 - £665). Contributions totalling £151 (2019 - £139) were payable to the fund at the balance sheet date and are included in creditors.
## **21. Members' liability**
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
## **22. Related party transactions**
There have been no transactions with related parties during the period under review (2019 - none).
Page 24
## **ST MARY'S ARTS TRUST (A company limited by guarantee)**
## **SCHEDULE 1 TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Voluntary Income**
Donations
Grants:
Arts Council England
Arts Council England - emergency Covid-19
Ashford Borough Council Annual
Ashford Borough Council Other
Kent County Council Arts Investment Fund
Other Grants
**Activities for generating funds**
Bank interest
**Incoming resources from charitable activities**
**Operation of Arts Centre**
Box office income
Venue hire
Bar takings
Merchandise
Other income
**TOTAL INCOMING RESOURCES**|2,827
15,658
14,168
1,750
**Unrestricted**
**General Fund**|**Ashford**
**Borough**
**Council Core**
**Grant**
30,000|**Ashford**
**Borough**
**Council**
**Member**
**Grant**|**Ashford**
**Borough**
**Council -**
**Film Fund**
1,140|**Ashford**
**Borough**
**Council -**
**Bandstand**
11,100|**Ashford**
**Borough**
**Council -**
**Section 106**
**Fund**|**Arts Council**
**England**
**Culture**
**Recovery**
**Fund**
53,111|**Arts Council**
**England**
**Main Grant**
1,414|**KCF Grant**|**KCC**
394|**Seccads**|**ABC Capital**|**Capital**
**Grants**|**Total Funds**
**2020**
2,827
54,525
15,658
30,000
26,408
394
1,750|**Total Funds**
**2019**
308
24,329
-
59,494
3,555
-
2,750|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||34,403|30,000|-|1,140|11,100|-|53,111|1,414|-|394|-|-|-|131,562|90,436|
||14|||||||||||||14|30|
||14|-|-|-|-|-|-|-|-|-|-|-|-|14|30|
||4,514
2,530
5,808
3,340
41|||||||||||||4,514
2,530
5,808
3,340
41|38,959
4,788
23,448
-
106|
||16,233|-|-|-|-|-|-|-|-|-|-|-|-|16,233|67,301|
|||||||||||||||||
||50,650|30,000|-|1,140|11,100|-|53,111|1,414|-|394|-|-|-|147,809|157,767|
Page 25
## **ST MARY'S ARTS TRUST**
## **(A company limited by guarantee)**
## **SCHEDULE 2 TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Charitable Activities**
**Operation of Arts Centre**
Guest artist's fees
Merchandise
Riders and accommodation costs
Creative programmer fees
Freelance
Consultancy fees
Event staff
Security staff
Staff and volunteer expenses
PA engineers and equipment hire
Photographer fees
Cleaning and recycling
Salaries, NIC and pension
Training and develpoment
Utilities
Purchases of bar stock
Ticket sale fees
Repairs and renewals
Event & equipment hire
Printing and stationery
Poster and flier distribution
Advertising - events
Telephone and postage
Subscriptions and donations
Sundry expenses
Office
Insurances
Licences
Bank and credit card charges
Depreciation
**Governance costs**
Independent examiner's fees
**TOTAL RESOURCES EXPENDED**|1,830
261
-
305
-
7,114
1,353
-
123
580
-
1,618
8,990
-
3,391
897
5,893
285
-
430
360
1,998
1,953
557
1,207
-
-
18
390
1,821
**Unrestricted**
**General Fund**|**Ashford**
**Borough**
**Council Core**
**Grant**
30,000|**Ashford**
**Borough**
**Council**
**Member**
**Grant**
168|**Ashford**
**Borough**
**Council -**
**Film Fund**
487
287
188
13|**Ashford**
**Borough**
**Council -**
**Bandstand**
3,350
739|**Ashford**
**Borough**
**Council -**
**Section 106**
**Fund**
550
20
9,000|**Arts Council**
**England**
**Culture**
**Recovery**
**Fund**
2,434
2,627
742
369
440
374
80|**Arts Council**
**England**
**Main Grant**
1,414|**KCF Grant**
2,000|**KCC**|**Seccads**
669|**ABC Capital**
2,000|**Capital**
**Grants**
470|**Total Funds**
**2020**
5,667
2,695
-
305
-
7,114
2,379
-
123
580
-
4,433
41,146
-
3,391
897
7,893
298
-
799
360
2,988
2,327
557
1,307
9,000
-
18
390
5,128|**Total Funds**
**2019**
36,449
-
560
398
450
7,725
6,945
297
411
2,562
200
1,821
54,446
134
3,576
1,970
8,326
2,859
759
1,692
960
7,645
2,628
846
2,389
8,500
641
2,062
1,043
5,186|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||41,374|30,000|168|975|4,089|9,570|7,066|1,414|2,000|-|669|2,000|470|99,795|163,480|
||2,427||||||621|||||||3,048|2,578|
||2,427|||-|-|-|621|-|-|-|-|-|-|3,048|2,578|
|||||||||||||||||
||43,801|30,000|168|975|4,089|9,570|7,687|1,414|2,000|-|669|2,000|470|102,843|166,058|
Page 26