2023-12-31-accounts - St Ives School Of Art

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Trustees Report		1 to 10
Reference and Administrative	Details
Independent Examiner's Report		11to 12
Statement of Financial Activities		13to 14
Balance Sheet		15to 16
Statement ofCash Flows		17
Notes to the Financial Statements		18to 34

				Unrestricted	Restricted	Total
				funds	funds	2023
			Note
Income and Endowments		from:
Donations and legacies				6,461	9,069	15,530
Charitable activities				545,057		545,057
Other trading activities				4,027		4,027
Investment income				4,405		4,405
Total income				559,950	9,069	569,019
Expenditure on:
Raising funds Charitable activities			7 8	(26,158) ~525.149)	~(13,012	(26,158) ~538,161)
Total expenditure Net income/(expenditure)				(551,307) 8,643	(13,012) ~(3,943	~564,319) 4,700
Net movement in funds				8,643	(3,943)	4,700
Reconciliation of	funds
Total funds brought	forward			170,620	10,641	181,261
Total funds carried	forward		21	179,263	6,698	185,961

				Unrestricted	Restricted	Total
				funds	funds	2022
			Note
Income and Endowments		from:
Donations and legacies				9,335	44,665	54,000
Charitable activities				499,796		499,796
Other trading activities				3,652		3,652
Investment income				1,028		1,028
Total income				513,811	44,665	558,476
Expenditure on:
Raising funds Charitable activities			7 8	(35,031) ~(511,155	(52,297)	(35,031) ~563,452)
Total expenditure Net expenditure				~(546,186 ~(32,375	~52,297) ~7,632)	(598,483) (40,007)
Net movement in funds				(32,375)	(7,632)	(40,007)
Reconciliation of	funds
Total funds brought	forward			202,995	18,273	221,268
Total funds carried	forward		21	170,620	10,641	181,261

Balance Sheet	as at 31 December 2023
		Note	2023	2022f
Fixed assets
Intangible assets		14		1,594
Tangible assets		15	4,001	17,217
			4,001	18,811
Current assets
Stocks		16	14,806	12,704
Debtors		17	4,477	3,040
Cash at bank and in hand		18	342,471	350,155
			361,754	365,899
Creditors: Amounts	falling due within one year	19	(179,794)	(203,449)
Net current assets			181,960	162,450
Net assets			185,961	181,261
Funds ofthe charity:
Restricted income funds
Restricted funds		21	6,698	10,641
Unrestricted income	funds
Unrestricted funds			179,263	170,620
Total funds		21	185,961	181,261

Statement ofCash Flows for the	Year En	ded 31 De	cember 20	23
			2023	2022
		Note
Cash flows from operating activities
Net cash income/(expenditure)			4,700	(40,007)
Adjustments to cash flows from non-cash	items
Depreciation			13,907	11,330
Amortisation			1,594	1,593
Investment income			(4,405)	(1,028)
			15,796	(28,112)
Working capital adjustments
Increase in stocks		16	(2,102)	(297)
Increase in debtors		17	(1,437)	(213)
Increase/(decrease) in creditors		19	10,967	(4,428)
(Decrease)/increase in deferred income			(34,622)	30,775
Net cash flows from operating activities			(11,398)	(2,275)
Cash flows from investing activities
Interest receivable and similar income Purchase oftangible fixed assets		6 15	4,405 (691i	1,028 ~(6,342
Net cash flows from investing activities			3,714	(4,314)
Net decrease in cash and cash equivalents			(7,684)	(6,589)
Cash and cash equivalents at 1 January			350,155	356,744
Cash and cash equivalents at 31 December			342,471	350,155

3 Incom	e from d	onations an	d legacies
			Unrestricted	funds	Restricted	Total
			Designated	General	funds	funds
Donations	and legacies;
Donations and legacies			512	5,949		6,461
Grants,	including	capital
grants					9,069	9,069
Total for	2023		512	5,949	9,069	15,530
Total for	2022			9,335	44,665	54,000

			Unrestricted	Total
			Funds	funds
			K	E
Fees for delivery		of art courses	541,216	541,216
Membership	income		3,007	3,007
Sale ofstudent		artwork	834	834
Total for 2023			545,057	545,057
Total for 2022			499,796	499,796

5 Inco	me from	other trading activities
			Unrestricted	Total
			Funds	funds
Trading	income;
Sales	ofgoods and services		3,645	3,645
Other	trading	income	382	382
Total for 2023			4,027	4,027
Total for 2022			3,652	3,652

6 Investment inc	o	me
			Unrestricted	Total
			funds	funds
Interest receivable	and similar income;
Interest receivable		on bank deposits	4,405	4,405
Total for 2023			4,405	4,405
Total for 2022			1,028	1,028

7 Expe	nditure o	n raising funds
			Allocated
			support	Total	Total
			costs	2023	2022
Artwork,	materials	and marketing	8,962	8,962	8,341
Staff Costs			17,196	17,196	26,690
			26,158	26,158	35,031

			Unrestricted	funds	Restricted	Total	Total
			Oesignated	General	funds	2023	2022f
Courses and		production
costs			18,435	149,187	5,224	172,846	166,848
Depreciation	and
am ortisation			7,712		7,788	15,500	12,923
Staff costs				245,869		245,869	264,449
Support costs		(note 9)	20,000	83,946		103,946	119,232
			46,147	479,002	13,012	538,161	563,452

Charitable activities	expenditure
		Unrestricted	funds	Total	Total
		Designated	Generalf	2023	2022
Bank charges			11,278	11,278	13,274
Research &development		20,000	8,404	28,404	22,958
Office costs (supplies	8 support)		9,635	9,635	15,471
Computer costs &equipment			13,892	13,892	20,610
Insurance			3,216	3,216	2,832
Studio supplies &resources			3,758	3,758	4,241
Sundry expenses			603	603	1,380
Professional fees			4,192	4,192	10,642
Subscriptions & memberships			567	567	574
Repairs &maintenance			1,317	1,317	1,324
Rent 8 establishment	costs		27,084	27,084	25,926
		20,000	83,946	103,946	119,232

10Net incoming/outgoing	10Net incoming/outgoing	resources
Net incoming/(outgoing)	resources for the year include:
			2023	2022
Operating leases - other		assets	16,004	20,503
Independent Examiner's		fees	1,035	1,035
Other non-audit services			3,105	3,105
Depreciation offixed assets			13,907	11,330
Amortisation of intangible		fixed assets	1,594	1,593

12 Staff costs
The aggregate	payroll costs were as follows:
		2023	2022
Staff costs during the year were:
Wages and salaries		247,682	271,455
Social security	costs	11,136	14,873
Pension costs		4,247	4,811
		263,065	291,139

by the cha	rity during the year	expressed by headcount w	as as follows:
			2023	2022
			No	No
Raising funds			1	4
Charitable	activities - salaried	staff	15	15
			16	19

14Intangible fixed assets
	Online
	development
	costs	Total
Cost
At 1 January 2023	4,780	4,780
At 31 December 2023	4,780	4,780
Amortisation
At 1 January 2023	3,186	3,186
Charge for the year	1,594	1,594
At 31 December 2023	4,780	4,780
Net book value
At 31 December 2023
At 31 December 2022	1,594	1,594
15Tangible fixed assets

15Tangible fixed assets
	Furniture and	Computer
	equipment	equipment	Total
Cost
At 1 January 2023	23,417	44,223	67,640
Additions		691	691
At 31 December 2023	23,417	44,914	68,331
Depreciation
At 1 January 2023	15,041	35,382	50,423
Charge for the year	5,003	8,904	13,907
At 31 December 2023	20,044	44,286	64,330
Net book value
At 31 December 2023	3,373	628	4,001
At 31 December 2022	8,376	8,841	17,217

16Stock
		2023	2022
		E
Stocks		14,806	12,704
17Debtors
		2023	2022
Trade debtors		1,320
Prepayments		3,157	3,040
		4,477	3,040
18Cash and cash equivalents
		2023	2022f
Cash on hand		117	230
Cash at bank		342,354	349,925
		342,471	350,155
19Creditors: amounts	falling due within one year
		2023	2022
Trade creditors		2,669	3,273
Other creditors		4,819
Accruais		17,049	10,297
Deferred income		155,257	189,879
		179,794	203,449

Notes 2023	to the Financial S	tatements for th	e Year Ended 31 Decem	ber
			2023	2022
			F
Deferred	income at 1 January 2023		189,879	159,104
Resources deferred in the period Amounts released from previous		periods	155,257 ~189,879i	189,879 (159,104)
Deferred	income at year end		155,257	189,879

Operating	lease com	mitments
Total future	minimum	lease payments	under non-cancellable	operating	leases are as follows:
					2023f	2022
Other
Within one	year				14,948	16,004
Between one and five		years			46,258	57,192
After five years					89,626	85,925
					150,832	159,121

21 Funds
							Balance at
			Balance at				31
			1 January	Incoming	Resources		December
			2023	resources f	expended	Transfers f	2023f
Unrestricted funds
General
General Fund			120,986	524,438	(505,160)	(691)	139,573
Designated
Youth/Subsidy Fund			15,000	15,000	(15,000)		15,000
Capital Reserve			10,370		(7,712)	691	3,349
Research & Development			20,000	20,000	(20,000)		20,000
Donations to Youth Project			829	512			1,341
Roy Ray Fund			3,435		(3,435)
			49,634	35,512	(46,147)	691	39,690
Total unrestricted funds			170,620	559,950	(551,307)		179,263
Restricted funds
Unlocking Potential Growth		&
Productivity			334		(330)
DWP Access to Work
Equipment			606		(594)		12
St Ives Rotary Youth	Donation			900	(355)		545
ERDF CIOS Kickstart			1,699		(1,668)		31
Kickstart Job Placement			313		(307)		6
ERDF Future Focus,
Unlocking Potential,	managed
by University of Exeter			800		(200)		600
Wilhelmina Barns-Graham
Trust			2,200		(2,200)
Taylor Money Limited				6,000	(500)		5,500
CDC Cornwall - CLLD Project			4,689		(4,689)
St Ives Town Council	Youth
Grant				1,669	(1,669)
Salvation Army Contribution				500	(500)
Total restricted funds			10,641	9,069	(13,012)		6,698
Total funds							185,961

2023
							Balance at
			Balance at				31
			1 January	Incoming	Resources		December
			2022 F	resources f	expended f	Transfers	2022f
Unrestricted funds
General
General Fund			177,311	510,952	(532,277)	(35,000)	120,986
Designated
Youth/Subsidy Fund			10,000		(10,000)	15,000	15,000
Staff Safety			3,000		(3,000)
Capital Reserve			11,279		(909)		10,370
IT Development Fund						20,000	20,000
Donations to Youth	Project			829			829
Roy Ray Fund			1,405	2,030			3,435
			25,684	2,859	(13,909)	35,000	49,634
Total unrestricted funds			202,995	513,811	(546,186)		170,620
Restricted
Cultivator Innovation	&
Inclusion Placement	Awards			10,192	(10,192)
Unlocking Potential	Growth	&
Productivity			667		(333)		334
DWP Access to Work
Equipment			1,194		(588)		606
St Ives Rotary Youth	Donation			1,000	(1,000)
ERDF CIOS Kickstart			3,350		(1,651)		1,699
Kickstart Job Placement			617		(304)		313
Little Pare Owles Trust				1,151	(1,151)
ERDF Future Focus,
Unlocking Potential,	managed
by University of Exeter				1,000	(200)		800
Unlocking Potential	Graduate
Jobs				3,000	(3,000)
Cornwall Council Omicron
Hospitality and Leisure Grant				5,334	(5,334)
Cultivator Creative Investment
Grant Phase Two				2,767	(2,767)
ERDF Superfast 3 Inclusive
Growth				6,000	(6,000)

2023
							Balance at
			Balance at				31
			1January	Incoming	Resources		December
			2022 F	resources	expended	Transfersf	2022 F
Cornwall Community
Foundation, Headstart		Kernow
Young People's	Mental
Wellbeing Fund				5,221	(5,221)
Wilhelmina Barns-Graham
Trust			3,160	4,500	(5,460)		2,200
Taylor Money Limited CDC Cornwall - CLLD		Project	9,285	4,500	(4,500) ~4,596		4,689
Total restricted	funds		18,273	44,665	(52,297)		10,641
Total funds			221,268	558,476	~(598,483		181,261

							Total funds
							at 31
			Unrestricted		funds	Restricted	December
			General f	Designated		funds	2023
Tangible		fixed assets			3,348	653	4,001
Current	assets		319,367		36,342	6,045	361,754
Current	liabilities						(179,794)
Total net		assets	139,573		39,690	6,698	185,961
							Total funds
							at 31
			Unrestricted		funds	Restricted	December
			General	Designated		funds	2022
Intangible		fixed assets				1,594	1,594
Tangible		fixed assets	10,370			6,847	17,217
Current	assets		314,065		49,634	2,200	365,899
Current	liabilities		(203,449)				(203,449)
Total net		assets	120,986		49,634	10,641	181,261