REGISTERED COMPANY NUMBER: 07842254 (England and Wales)
## REGISTERED CHARITY NUMBER: 1149607
Report of the Trustees and Unaudited Financial Statements
for the Year Ended 30 April 2024
for
HvH Arts Ltd
Mudd Partners LLP Chartered Accountants Lakeview House 4 Woodbrook Crescent Billericay Essex CMI12 0EQ
HvH Arts Ltd
Contents of the Financial Statements for the Year Ended 30 April 2024
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|---|---|---|---|---|---|---|---|
|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|Il|
|Detailed|Statement|of Financial|Activities|12|to|13|
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'
## HvH Arts Ltd
## Report of the Trustees for the Year Ended 30 April 2024
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 2024. 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
HvH Arts currently supports 1024 unique children/young people per year through our Arts programmes and it is our aim to grow this to 2,500 children/young people per year.
To achieve this, we need to secure more grants, funding and private donations.
Having access to a larger space to deliver our Arts programmes is a key driver to reaching our target of 2,500 children/young people per year, thus our long-term strategy is to secure our own building to deliver our Arts programmes from.
## 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 07842254 (England and Wales)
Registered Charity number 1149607
Registered office 4 Hunter Street London
WCIN 1BD
Page |
HvH Arts Ltd
## Report of the Trustees for the Year Ended 30 April 2024
Trustees T Lomnitzer N Webb M Von Herkomer Ms M Byrne Trustee Ms L D Ali Trustee
## Company Secretary
Independent Examiner Mudd Partners LLP Chartered Accountants Lakeview House 4 Woodbrook Crescent Billericay Essex CM12 0EQ
‘ Approved by order ofthea oftrustees oned4sil ical and signed on its behalf by:
T Lomnitzer - Trustee
Page 2
Dates ooo. 4 October 2024 eeeeeeeeeeeseeeeeeencseerteeneenes
HvH Arts Ltd
Statement of Financial Activities for the Year Ended 30 April 2024
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|||||||
|---|---|---|---|---|---|
|"|30.4.24|30.4.23|
|Unrestricted|Total|
|fund|funds|
|Notes|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and|legacies|183,541|139,342|
|Charitable|activities|
|Charitable|activities|79,781|74,521|
|Investment|income|2|;|364|92|
|Total|263,686|213,955|
|EXPENDITURE|ON|.|
|Charitable|activities|
|Charitable|activities|195,969|118,058|
|Other|-|$4,318|
|Total|195,969|172,376|
|NET INCOME|67,717|41,579|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|97,407|55,828|
|TOTAL FUNDS CARRIED FORWARD|165,124|97,407|
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The notes form part of these financial statements
Page 4
## HvH Arts Ltd
## Balance Sheet
30 April 2024
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|||||||||
|---|---|---|---|---|---|---|---|
|30.4.24|30.4.23|
|Unrestricted|Total|
|fund|funds|
|Notes|£|£|
|FIXED|ASSETS|
|Intangible assets|7|7,265|2,688|
|Tangible|assets|8|3,233|4,532|
|,|10,498|7,220|
|CURRENT ASSETS|
|Debtors|9|3,000|1,329|
|Cash|at|bank|and|in|hand|158,075|97,476|
|161,075|98,805|
|CREDITORS|
|Amounts|falling due within one year|10|(6,449)|(8,618)|
|NET CURRENT ASSETS|154,626|90,187|
|TOTAL ASSETS|LESS|CURRENT|
|LIABILITIES|165,124|97,407|
|NET ASSETS|165,124|97,407|
|FUNDS|1]|
|Unrestricted|funds|165,124|97,407|
|TOTAL FUNDS|165,124|97,407|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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
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HvH Arts Ltd
## Balance Sheet - continued
## 30 April 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable compames subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on i) and were s gned on tts behalf by: caaneeil aie ; ‘ T LomnitzerTrustee
The notes form part of these financial statements
Page 6
HvH Arts Ltd
1. ACCOUNTING POLICIES
## Notes to the Financial Statements for the Year Ended 30 April 2024
## 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
## Deposit account interest
30.4.24 30.4.23 £ £ 364 92
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HvH Arts Ltd
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
## 3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
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||||||
|---|---|---|---|---|
|30.4.24|30.4.23|
|£|£|
|Depreciation|- owned|assets|1,299|1,566|
|Other operating|leases|9,037|9,004|
|Surplus|on disposal|of fixed assets|-|(3,946)|
|Computer software|amortisation|986|429|
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4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.
## Trustees’ expenses
There were no trustees’ expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.
- §. STAFF COSTS
The average monthly number of employees during the year was as follows:
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||||||||
|---|---|---|---|---|---|---|
|30.4.24|30.4.23|
|Management|5|5|
|Admin|2|2|
|7|7|
|No employees|received|emoluments|in|excess|of|£60,000.|
|6.|COMPARATIVES FOR|THE STATEMENT OF FINANCIAL ACTIVITIES|Unrestricted|
|fund|
|£|
|INCOME|AND ENDOWMENTS|FROM|
|Donations and|legacies|139,342|
|Charitable|activities|
|Charitable|activities|74,521|
|Investment|income|92|
|Total|213,955|
|EXPENDITURE|ON|
|Charitable|activities|
|Charitable|activities|118,058|
|Other|.|54,318|
|Total|172,376|
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## HvH Arts Ltd
## Notes to the Financial Statements - continued for the Year Ended 30 April 2024 _—-
## 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
|||||Unrestricted|
|---|---|---|---|---|
|||||fund|
|||||£|
||NETINCOME|||41,579|
||RECONCILIATION OFFUNDS||||
||Total funds broughtforward|||55,828|
||TOTALFUNDSCARRIEDFORWARD|||97,407|
|7.|INTANGIBLE FIXED ASSETS||||
|||||Computer|
|||||software|
|||||£|
||COST||||
||At | May2023|||4,294|
||Additions|||5,563|
||At30 April 2024|||9,857|
||AMORTISATION||||
||At 1 May2023|||1,606|
||Charge foryear|||986|
||At30 April 2024|||2,592|
||NETBOOKVALUE||||
||At30 April 2024|||7,265|
||At 30 April 2023|||2,688|
|8.|TANGIBLE FIXEDASSETS||||
|||Plantand|Computer||
|||machinery|equipment|Totals|
|||£|£|£|
||COST||||
||At 1 May2023and30April2024|6,028|747|6,775|
||DEPRECIATION||||
||At 1 May2023|1,828|415|2,243|
||Charge foryear|1,050|249|1,299|
||At30April 2024|2,878|664|3,542|
||NETBOOKVALUE||||
||At 30 April 2024|3,150|83|3,233|
||At30April2023|4,200|332|4,532|
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HvH Arts Ltd
;
## Notes to the Financial Statements - continued for the Year Ended 30 April 2024
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|9,|DEBTORS:|AMOUNTS FALLING|DUE WITHIN|ONE YEAR|
|30.4.24|30.4.23|
|£|£|
|Prepayments|3,000|1,329|
|10.|CREDITORS:|AMOUNTS|FALLING|DUE WITHIN|ONE YEAR|
|30.4.24|30.4.23|
|£|£|
|Trade|creditors|1|-|
|Social|security|and|other taxes|3,110|5,052|
|Other|creditors|1,553|1,901|
|Accruals|and|deferred|income|1,785|1,665|
|6,449|8,618|
|il.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1.5.23|in|funds|30.4.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|97,407|67,717|165,124|
|TOTAL FUNDS|97,407|67,717|165,124|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|263,686|(195,969)|67,717|
|TOTAL FUNDS|263,686|(195,969)|67,717|
|Comparatives|for|movement|in funds|
|Net|
|movement|At|
|At|1.5.22|in|funds|30.4.23|
|£|£|£|
|Unrestricted|funds|
|General|fund|55,828|41,579|97,407|
|TOTAL FUNDS|55,828|41,579|97,407|
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HvH Arts Ltd
## Notes to the Financial Statements - continued
## for the Year Ended 30 April 2024
## 11. MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|213,955|(172,376)|41,579|
|TOTAL FUNDS|213,955|(172,376)|41,579|
|A|current|year|12|months and|prior year|12|months|combined|position|is as|follows:|
|Net|
|movement|At|
|At|1.5.22|in|funds|30.4.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|55,828|109,296|165,124|
|TOTAL FUNDS|55,828|109,296|165,124|
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|477,641|(368,345|)|109,296|
|TOTAL FUNDS|477,641|(368,345)|109,296|
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## 12. RELATED PARTY DISCLOSURES
Wages include salary paid to Ms Clark who is a close family member of one of the Trustees on the board during the year.
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## HvH Arts Ltd
## Detailed Statement of Financial Activities
## for the Year Ended 30 April 2024
||30.4.24|30.4.23|
|---|---|---|
||£|£|
|INCOME ANDENDOWMENTS|||
||.||
|Donations and legacies|||
|Donations|183,541|139,342|
|Investment income|||
|Deposit account interest|364|92|
|Charitable activities|||
|Grants|79,781|74,521|
|Total incomingresources|263,686|213,955|
|EXPENDITURE|||
|Charitable activities|||
|Marketing|3,691|3,105|
|Photography /Art Resources|15,237|15,814|
|Exhibition and beneficiarycelebration awards|2,234|4,155|
|Tutors
Travel|50,218
5,000|49,563
6,775|
|Projects and studio hire for music, photography|||
|and filming|27,994|26,907|
||104,374|106,319|
|Support costs|||
|Management|||
|Wages|70,570|50,885|
|Rentand rates|9,037|9,004|
|Insurance|976|897|
|Light and heat|16|20|
|Telephone|1,028|107|
|Postageand stationery|984|916|
|Repairs and renewals|3,575|2,528|
|Sundries|1,821|2,428|
|Piantand machinery|1,050|1,400|
|Profit on saleoftangible fixed assets|-|(3,946)|
||89,057|64,239|
|Finance|||
|Bank charges|223|263|
|Information technology|||
|Computersoftware|986|429|
|Computerequipment|249|166|
||1,235|595|
This page does not form part of the statutory financial statements
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## HvH Arts Ltd
## Detailed Statement of Financial Activities for the Year Ended 30 April 2024
||30.4.24|30.4.23|
|---|---|---|
||£|£|
|Information technology|||
|Governance costs|||
|Accountancy and legal fees|1,080|960|
|Total resources expended|195,969|172,376|
|Netincome|67,717|41,579|
This page does not form part of the statutory financial statements
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