Registered number 07760504
company number 1144945
ST MARY'S ARTS TRUST
Accounts
31 December 2024
ST MARY'S ARTS TRUST Report and accounts Contents
| Page | |
|---|---|
| Trust's information | 1 |
| Directors' report | 2 |
| Chairman's report | 3-4 |
| Accountants' report | 5 |
| Income & Expenditure account | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8-10 |
| Management information - Detailed Income & Expenditure | 11 |
ST MARY'S ARTS TRUST Trust Information
Directors
Kenneth Charles Blanshard Marjorie Burge Dr Timothy Guy Bushnell David Owen Smith Roberta Margaret Spicer Lady Lesley Linda Wraxall
REF!
Accountants
Certax Accounting East Kent 6-7 Cecil Square Margate Kent CT9 1BD
Bankers
Metro Bank One Southampton Row London WC1B 5HA
Registered office
18 North Street Ashford Kent TN24 8JR
Registered number 07760504
company number 1144945
1
ST MARY'S ARTS TRUST Accountants' Report
Independent examiner's report on the accounts ST MARY'S ARTS TRUST
I report to the company Directors on my examination of the accounts of the Company for the year ended 31/12/2023.
As the company’s Directors of the Company (who are also the directors of the company 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 for this year 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 company Commission (under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) which gives me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
•the accounts have not been prepared in accordance with the Charities SORP (FRS102).xamination, 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 company Commission (under section 145(5)(b) of the 2011 Act.
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.
Adeel Abdullah (FCCA) Certax Accounting East Kent Professional Accountants 6-7 Cecil Square Margate Kent CT9 1BD
17 July 2025
2
ST MARY'S ARTS TRUST Income & Expenditure account for the year ended 31 December 2024
| Gross Income Direct costs Gross surplus Administrative expenses Other operating income Operating surplus/(deficit) Interest receivable Surplus/(deficit) Surplus/(deficit) for the financial year |
Unrestricted Funds 118,011 (19,774) 98,237 (72,499) 3,565 29,303 467 29,770 - 29,770 |
Restricted Funds 82,602 (98,710) (16,108) (8,882) - (24,990) - (24,990) - (24,990) |
2024 £ 200,613 (118,484) 82,129 (81,381) 3,565 4,313 467 4,780 - 4,780 |
2023 £ 148,154 (60,744) 87,410 (101,239) 4 (13,825) 865 (12,960) - (12,960) |
|---|---|---|---|---|
3
ST MARY'S ARTS TRUST Registered number: 07760504 Balance Sheet as at 31 December 2024
| Notes Current assets Stocks Debtors 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Net assets Capital and reserves Unrestricted funds Total funds |
2024 £ 473 1,693 67,422 69,588 (935) 68,653 68,653 68,653 68,653 |
2023 £ 2,761 749 63,571 67,081 (3,208) 63,873 63,873 63,873 63,873 |
|---|---|---|
The Directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ken Blanshard Chairman Approved by the board on 17 July 2025
4
ST MARY'S ARTS TRUST Notes to the Accounts for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Freehold buildings | over 50 years |
|---|---|
| Leasehold land and buildings | over the lease term |
| Plant and machinery | over 5 years |
| Fixtures, fittings, tools and equipment | over 5 years |
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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ST MARY'S ARTS TRUST Notes to the Accounts for the year ended 31 December 2024
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The organization's income is exempt from charge of income tax
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
| 2 Employees Average number of persons employed by the company 3 Debtors Trade debtors |
2024 Number 3 2024 £ 1,693 |
2023 Number 3 2023 £ 749 |
|---|---|---|
6
ST MARY'S ARTS TRUST
Notes to the Accounts
for the year ended 31 December 2024
| 4 Creditors: amounts falling due within one year Advances & prepayments Taxation and social security costs 5 Restricted funds Ashford Borough council - Section 106 Fund At 31 December 2024 |
2024 £ 935 - 935 2024 £ - - |
2023 £ 996 2,212 3,208 2023 £ 4,762 4,762 |
|---|---|---|
6 Other information
ST MARY'S ARTS TRUST
18 North Street Ashford Kent TN24 8JR
7
ST MARY'S ARTS TRUST
Detailed Receipt & Payment account for the year ended 31 December 2024
This schedule does not form part of the statutory accounts
| Receipts Donations Grants Income from charitable activities Direct Costs Purchases Decrease/increase in stocks Artists' fees Royalties Marketing Direct labour & event staff Hire of Equipment & venue Other direct costs Administrative expenses Employee costs: Wages and salaries Pensions Event & support staff Staff training and welfare Travel and subsistence Entertaining Premises costs: Rent Light and heat Cleaning General administrative expenses: Telephone and fax General administrative expenses Stationery and printing Courier services Subscriptions & donations Bank charges Insurance Equipment expensed Equipment hire Software Repairs and maintenance Sundry expenses Legal and professional costs: Accountancy fees Consultancy fees Advertising and PR |
Unrestricted Funds 734 - 117,277 118,011 16,396 2,288 - 805 - - - 285 19,774 44,510 - - 892 181 219 45,802 9,000 726 112 9,838 1,108 - 175 39 547 663 148 1,336 - 356 199 11 4,582 1,547 4,855 5,875 12,277 72,499 |
Restricted Funds - 82,602 - 82,602 - - 82,248 - 4,059 - 9,859 2,544 98,710 - - - - - - - - 8,162 - 8,162 720 - - - - - - - - - - - 720 - - - - 8,882 |
2024 £ 734 82,602 117,277 200,613 16,396 2,288 82,248 805 4,059 - 9,859 2,829 118,484 44,510 - - 892 181 219 45,802 9,000 8,888 112 18,000 1,828 - 175 39 547 663 148 1,336 - 356 199 11 5,302 1,547 4,855 5,875 12,277 81,381 |
2023 £ 2,976 69,200 75,978 148,154 24,474 (79) 17,335 2,880 - 12,651 1,750 1,733 60,744 44,449 2,718 1,850 1,204 63 273 50,557 9,617 22,574 308 32,499 1,804 627 281 57 1,908 638 493 1,759 504 337 915 - 9,323 1,500 1,750 5,610 8,860 101,239 |
|---|---|---|---|---|
8