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.
5
## **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