REGISTERED COMPANY NUMBER: 11369672 (England and Wales) REGISTERED CHARITY NUMBER: 1149607
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 April 2023
for
HvH Arts Ltd
Mudd Partners LLP Chartered Accountants Lakeview House 4 Woodbrook Crescent Billericay Essex CM12 0EQ
HvH Arts Ltd
Contents of the Financial Statements for the Year Ended 30 April 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
HvH Arts Ltd
Report of the Trustees for the Year Ended 30 April 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2023. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity aims to inspire a generation of young people by offering them a gateway to the Arts by funding after and out of school classes in primary and secondary state schools in England. The foundation provides children with the inspiration and tolls to develop lifelong artistic passions.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Public benefit
The policies adopted to further the objectives of the Charity for public benefit in accordance with section 4 of the 2006 act to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties are disclosed in section headed objectives and aims in this report.
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
FUTURE PLANS
We are currently running a summer program as we do every year supporting 70 children a day open every day providing skills in the arts and providing lunches - food- drinks to support their wellbeing.
We have secured a 3yr grant from John Lyons Charity at 30K per annum - We have secured a donation from BGC for next year at 50K We are applying to City Bridge Trust, Lottery Funding and BBC children in need We have secured BGC charity day again this year which will bring in another donation of 40K plus for next year.
We are applying for BBC Children in Need / City Bridge Trust / Arts Council/ Lottery Funding for next year. We have secured grants from YCF and Camden Council for Christmas Holiday and Easter Holiday programs We support 70 children and young people every day. Our spaces can not take anymore and we are booked at full capacity - We reach out and support 856 unique individual children and young people this year and propose to do the same next year.
We are looking ot secure our own building as part of a 5 yr plan so that we can support more children and young people. We do currently support 856 unique children/YP - but our aim is to support many more and for this we need our own space and a bigger space. We are currently working with Camden Council on this - we are applying for funding and aim to support 2500 and more individual children and young people
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11369672 (England and Wales)
Registered Charity number
1149607
Page 1
HvH Arts Ltd
Report of the Trustees for the Year Ended 30 April 2023
Registered office
4 Hunter Street London WC1N 1BD
Trustees
T Lomnitzer N Webb M Von Herkomer Ms M T Byrne Ms L D Ali (appointed 17.11.22)
Company Secretary
Independent Examiner
Mudd Partners LLP Chartered Accountants Lakeview House 4 Woodbrook Crescent Billericay Essex CM12 0EQ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Trustee
Page 2
Independent Examiner's Report to the Trustees of HvH Arts Ltd
Independent examiner's report to the trustees of HvH Arts Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2023.
Responsibilities and basis of report
As the charity's 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 charity'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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
David Petrassi FCCA FCA
Mudd Partners LLP Chartered Accountants Lakeview House 4 Woodbrook Crescent Billericay Essex CM12 0EQ
Date: .............................................
Page 3
HvH Arts Ltd
Statement of Financial Activities for the Year Ended 30 April 2023
| 30.4.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 139,342 Charitable activities Charitable activities 74,521 Investment income 2 92 Total 213,955 EXPENDITURE ON Charitable activities Charitable activities 118,058 Other 54,318 Total 172,376 NET INCOME/(EXPENDITURE) 41,579 RECONCILIATION OF FUNDS Total funds brought forward 55,828 TOTAL FUNDS CARRIED FORWARD 97,407 |
30.4.22 Total funds £ 135,265 10,938 - 146,203 148,774 13,683 162,457 (16,254) 72,082 55,828 |
|---|---|
The notes form part of these financial statements
Page 4
HvH Arts Ltd
Balance Sheet 30 April 2023
| 30.4.23 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 6 2,688 Tangible assets 7 4,532 7,220 CURRENT ASSETS Debtors 8 1,329 Cash at bank and in hand 97,476 98,805 CREDITORS Amounts falling due within one year 9 (8,618) NET CURRENT ASSETS 90,187 TOTAL ASSETS LESS CURRENT LIABILITIES 97,407 NET ASSETS 97,407 FUNDS 10 Unrestricted funds 97,407 TOTAL FUNDS 97,407 |
30.4.22 Total funds £ 3,117 5,919 9,036 - 55,468 55,468 (8,676) 46,792 55,828 55,828 55,828 55,828 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
HvH Arts Ltd
Balance Sheet - continued 30 April 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 6
HvH Arts Ltd
Notes to the Financial Statements for the Year Ended 30 April 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. INVESTMENT INCOME
| 30.4.23 | 30.4.22 | ||
|---|---|---|---|
| £ | £ | ||
| Deposit account interest | 92 | - |
continued...
Page 7
HvH Arts Ltd
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 30.4.23 | 30.4.22 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 1,566 | 2,056 |
| Other operating leases | 3,334 | 4,200 |
| Surplus on disposal of fixed assets | (3,946) | - |
| Computer software amortisation | 429 | 429 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 135,265 |
| Charitable activities | |
| Charitable activities | 10,938 |
| Total | 146,203 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable activities | 148,774 |
| Other | 13,683 |
| Total | 162,457 |
| NET INCOME/(EXPENDITURE) | (16,254) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 72,082 |
| TOTAL FUNDS CARRIED FORWARD | 55,828 |
continued...
Page 8
HvH Arts Ltd
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
6. INTANGIBLE FIXED ASSETS
| 6. | INTANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Computer | |||||
| software | |||||
| £ | |||||
| COST | |||||
| At 1 May 2022 and 30 April 2023 | 4,294 | ||||
| AMORTISATION | |||||
| At 1 May 2022 | 1,177 | ||||
| Charge for year | 429 | ||||
| At 30 April 2023 | 1,606 | ||||
| NET BOOK VALUE | |||||
| At 30 April 2023 | 2,688 | ||||
| At 30 April 2022 | 3,117 | ||||
| 7. | TANGIBLE FIXED ASSETS | ||||
| Plant and | Computer | ||||
| machinery | equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1 May 2022 | 22,628 | 747 | 23,375 | ||
| Additions | 5,400 | - | 5,400 | ||
| Disposals | (22,000) | - | (22,000) | ||
| At 30 April 2023 | 6,028 | 747 | 6,775 | ||
| DEPRECIATION | |||||
| At 1 May 2022 | 17,207 | 249 | 17,456 | ||
| Charge for year | 1,400 | 166 | 1,566 | ||
| Eliminated on disposal | (16,779) | - | (16,779) | ||
| At 30 April 2023 | 1,828 | 415 | 2,243 | ||
| NET BOOK VALUE | |||||
| At 30 April 2023 | 4,200 | 332 | 4,532 | ||
| At 30 April 2022 | 5,421 | 498 | 5,919 | ||
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 30.4.23 | 30.4.22 | ||||
| £ | £ | ||||
| Prepayments | 1,329 | - |
continued...
Page 9
HvH Arts Ltd
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Other creditors Accruals and deferred income 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.5.22 £ 55,828 55,828 Incoming resources £ 213,955 213,955 At 1.5.21 £ 72,082 72,082 |
30.4.23 30.4.22 £ £ - 1 5,052 6,384 1,901 626 1,665 1,665 8,618 8,676 Net movement At in funds 30.4.23 £ £ 41,579 97,407 41,579 97,407 Resources Movement expended in funds £ £ (172,376) 41,579 (172,376) 41,579 Net movement At in funds 30.4.22 £ £ (16,254) 55,828 (16,254) 55,828 |
|---|---|---|
continued...
Page 10
HvH Arts Ltd
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 146,203 146,203 |
Resources Movement expended in funds £ £ (162,457) (16,254) (162,457) (16,254) |
Resources Movement expended in funds £ £ (162,457) (16,254) (162,457) (16,254) |
|---|---|---|---|
| (16,254) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.5.21 | in funds | 30.4.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 72,082 | 25,325 | 97,407 |
| TOTAL FUNDS | 72,082 | 25,325 | 97,407 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 360,158 360,158 |
Resources Movement expended in funds £ £ (334,833) 25,325 (334,833) 25,325 |
Resources Movement expended in funds £ £ (334,833) 25,325 (334,833) 25,325 |
|---|---|---|---|
| 25,325 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2023.
Page 11
HvH Arts Ltd
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 30 April 2023 | ||
| 30.4.23 | 30.4.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 139,342 | 135,265 |
| Investment income | ||
| Deposit account interest | 92 | - |
| Charitable activities | ||
| Grants | 74,521 | 10,938 |
| Total incoming resources | 213,955 | 146,203 |
| EXPENDITURE | ||
| Charitable activities | ||
| Advertising | 1,075 | 1,234 |
| Photography and resources | 14,710 | 6,118 |
| Exhibition and beneficiary celebration awards | 9,825 | 6,599 |
| Tutors | 49,563 | 52,872 |
| Travel | 6,775 | 7,079 |
| Projects and studio hire for music and | ||
| photography | 26,907 | 12,794 |
| 108,855 | 86,696 | |
| Support costs | ||
| Management | ||
| Wages | 50,885 | 49,472 |
| Rent and rates | 3,334 | 4,200 |
| Insurance | 897 | 625 |
| Light and heat | 20 | 185 |
| Telephone | 107 | 1,472 |
| Postage and stationery | 4,050 | 10,793 |
| Repairs and renewals | 2,528 | 2,887 |
| Sundries | 2,428 | 2,278 |
| Plant and machinery | 1,400 | 1,807 |
| Profit on sale of tangible fixed assets | (3,946) | - |
| 61,703 | 73,719 | |
| Finance | ||
| Bank charges | 263 | 405 |
| Information technology | ||
| Computer software | 429 | 429 |
| Computer equipment | 166 | 249 |
| 595 | 678 |
This page does not form part of the statutory financial statements
Page 12
HvH Arts Ltd
Detailed Statement of Financial Activities for the Year Ended 30 April 2023
| 30.4.23 | 30.4.22 | |
|---|---|---|
| £ | £ | |
| Information technology | ||
| Governance costs | ||
| Accountancy and legal fees | 960 | 959 |
| Total resources expended | 172,376 | 162,457 |
| Net income/(expenditure) | 41,579 | (16,254) |
This page does not form part of the statutory financial statements
Page 13