REGISTERED COMPANY NUMBER: 07893397 (England and Wales) REGISTERED CHARITY NUMBER: 1150485
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
SOCIAL ARTS FOR EDUCATION
SOCIAL ARTS FOR EDUCATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
SOCIAL ARTS FOR EDUCATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
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 31 December 2022. 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 objective of SOCIAL ARTS FOR EDUCATION is to provide secondary education to statemented and non-statemented autistic or bullied children from the ages of 11 to 18 years of age.
STRATEGIC REPORT
Reserves policy
Any surplus funds goes back into school funds to enable us to do more for our children.
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
07893397 (England and Wales)
Registered Charity number
1150485
Registered office
Ground Floor, 253 Eltham High Street London SE9 1TY
Trustees
L R Riviere Social Worker (resigned 20.7.2022) Ms L F R Wellings None M Hunter Trustee Ms L James-Wellings Chair Ms L King Trustee Ms R McWeeney Trustee Ms J Raven Ms N Morrell
Company Secretary
Ms N Morrell
Independent Examiner
MR SYMON L ABUDEY Abudey & Company First Floor 14-16 Powis Street Woolwich London SE18 6LF
Page 1
SOCIAL ARTS FOR EDUCATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 18 September 2023 and signed on the board's behalf by:
Ms L James-Wellings - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOCIAL ARTS FOR EDUCATION
Independent examiner's report to the trustees of Social Arts For Education ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of International Accountants, which is one of the listed bodies.
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.
MR SYMON L ABUDEY
Abudey & Company First Floor 14-16 Powis Street Woolwich London SE18 6LF
26 September 2023
Page 3
SOCIAL ARTS FOR EDUCATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 636,662 Investment income 3 135 Total 636,797 EXPENDITURE ON Raising funds 4 521,033 Charitable activities 5 Charitable Donations 213 Other 70,891 Total 592,137 NET INCOME 44,660 RECONCILIATION OF FUNDS Total funds brought forward 194,117 TOTAL FUNDS CARRIED FORWARD 238,777 |
2021 Total funds £ 582,217 - |
|---|---|
| 582,217 | |
| 437,106 - 59,136 |
|
| 496,242 | |
| 85,975 108,142 |
|
| 194,117 |
The notes form part of these financial statements
Page 4
SOCIAL ARTS FOR EDUCATION
BALANCE SHEET 31 DECEMBER 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 11 2,802 CURRENT ASSETS Debtors 12 71,313 Cash at bank and in hand 219,374 290,687 CREDITORS Amounts falling due within one year 13 (54,712) NET CURRENT ASSETS 235,975 TOTAL ASSETS LESS CURRENT LIABILITIES 238,777 NET ASSETS 238,777 FUNDS 14 Unrestricted funds 238,777 TOTAL FUNDS 238,777 |
2021 Total funds £ 1,419 167,045 41,879 208,924 (16,226) 192,698 194,117 194,117 194,117 194,117 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 financial statements were approved by the Board of Trustees and authorised for issue on 18 September 2023 and were signed on its behalf by:
L James-Wellings - Trustee
The notes form part of these financial statements
Page 5
SOCIAL ARTS FOR EDUCATION
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2022 £ 180,498 180,498 (3,138) 135 (3,003) 177,495 41,879 219,374 |
2021 £ (64,135) (64,135) (2,128) - (2,128) (66,263) 108,142 41,879 |
|---|---|---|
The notes form part of these financial statements
Page 6
SOCIAL ARTS FOR EDUCATION
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of Financial | |||
| Activities) | 44,660 | 85,975 | |
| Adjustments for: | |||
| Depreciation charges | 1,755 | 709 | |
| Interest received | (135) | - | |
| Decrease/(increase) in debtors | 95,732 | (167,045) | |
| Increase in creditors | 38,486 | 16,226 | |
| Net cash provided by/(used in) operations | 180,498 | (64,135) |
2.
| ANALYSIS OF CHANGES IN NET FUNDS | |||
|---|---|---|---|
| At 1.1.22 | Cash flow | At 31.12.22 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 41,879 | 177,495 | 219,374 |
| 41,879 | 177,495 | 219,374 | |
| Total | 41,879 | 177,495 | 219,374 |
The notes form part of these financial statements
Page 7
SOCIAL ARTS FOR EDUCATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
| Fees Donations Gift aid Grants Other Income |
2022 £ 618,329 15,234 880 - 2,219 636,662 |
2021 £ 564,363 4,206 4,220 9,134 294 |
|---|---|---|
| 582,217 |
continued...
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SOCIAL ARTS FOR EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
2. DONATIONS AND LEGACIES - continued
Grants received, included in the above, are as follows:
| Other grants 3. INVESTMENT INCOME Deposit account interest 4. RAISING FUNDS Raising donations and legacies Support costs Other trading activities Purchases Trustees' remuneration etc Staff costs Aggregate amounts 5. CHARITABLE ACTIVITIES COSTS Charitable Donations |
2022 £ - 2022 £ 135 2022 £ 50,250 2022 £ 8,679 168,763 293,341 470,783 521,033 |
2021 £ 9,134 2021 £ - 2021 £ 34,709 2021 £ 6,702 128,214 267,481 |
2021 £ 9,134 2021 £ - 2021 £ 34,709 |
|---|---|---|---|
| 402,397 | |||
| 437,106 | |||
| Direct Costs £ 213 |
continued...
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SOCIAL ARTS FOR EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
6. SUPPORT COSTS
| 6. SUPPORT COSTS |
|||
|---|---|---|---|
| Management £ Raising donations and legacies 23,434 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets 8. TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries Trustees' social security Trustees' pensions paid |
Governance Finance costs £ £ 255 26,561 2022 £ 1,755 2022 £ 146,994 17,359 4,410 168,763 |
Totals £ 50,250 2021 £ 709 2021 £ 112,907 11,921 3,386 |
Totals £ 50,250 |
| 128,214 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Staff |
2022 £ 414,241 37,276 6,177 457,694 2022 20 |
2021 £ 360,301 27,109 4,899 |
|---|---|---|
| 392,309 | ||
| 2021 18 |
No employees received emoluments in excess of £60,000.
continued...
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SOCIAL ARTS FOR EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
11.
| Unrestricted | |||
|---|---|---|---|
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 582,217 | ||
| EXPENDITURE ON | |||
| Raising funds | 437,106 | ||
| Other | 59,136 | ||
| Total | 496,242 | ||
| NET INCOME | 85,975 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 108,142 | ||
| TOTAL FUNDS CARRIED FORWARD | 194,117 | ||
| TANGIBLE FIXED ASSETS | |||
| Fixtures | |||
| and | Computer | ||
| fittings | equipment | Totals | |
| £ | £ | £ | |
| COST | |||
| At 1 January 2022 | 1,566 | 562 | 2,128 |
| Additions | - | 3,138 | 3,138 |
| At 31 December 2022 | 1,566 | 3,700 | 5,266 |
| DEPRECIATION | |||
| At 1 January 2022 | 522 | 187 | 709 |
| Charge for year | 522 | 1,233 | 1,755 |
| At 31 December 2022 | 1,044 | 1,420 | 2,464 |
| NET BOOK VALUE | |||
| At 31 December 2022 | 522 | 2,280 | 2,802 |
| At 31 December 2021 | 1,044 | 375 | 1,419 |
continued...
Page 11
SOCIAL ARTS FOR EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Nest Wages control Accrued expenses 14. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 194,117 TOTAL FUNDS 194,117 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 636,797 TOTAL FUNDS 636,797 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 108,142 TOTAL FUNDS 108,142 |
|
|---|---|
continued...
Page 12
SOCIAL ARTS FOR EDUCATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 582,217 582,217 |
Resources Movement expended in funds £ £ (496,242) 85,975 (496,242) 85,975 |
Resources Movement expended in funds £ £ (496,242) 85,975 (496,242) 85,975 |
|---|---|---|---|
| 85,975 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.21 £ 108,142 108,142 |
Net movement in funds £ 130,635 130,635 |
At 31.12.22 £ 238,777 |
|---|---|---|---|
| 238,777 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,219,014 | (1,088,379 ) | 130,635 |
| TOTAL FUNDS | 1,219,014 | (1,088,379 ) | 130,635 |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 13
SOCIAL ARTS FOR EDUCATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| INCOME AND ENDOWMENTS Donations and legacies Fees Donations Gift aid Grants Other Income Investment income Deposit account interest Total incoming resources EXPENDITURE Other trading activities Materials & Resources Trustees' salaries Trustees' social security Trustees' pensions paid Wages Social security Pensions Charitable activities Charitable Donations Other Exams Health & Safety Send Rent Premises expenses Entertainment Fixtures and fittings Computer equipment Support costs Management Rates and water Insurance Utilities & Telephone Carried forward |
2022 £ 618,329 15,234 880 - 2,219 636,662 135 636,797 8,679 146,994 17,359 4,410 267,247 19,917 6,177 470,783 213 1,545 1,790 30,978 24,240 8,539 2,044 522 1,233 70,891 549 5,803 3,750 10,102 |
2021 £ 564,363 4,206 4,220 9,134 294 |
|---|---|---|
| 582,217 - |
||
| 582,217 6,702 112,907 11,921 3,386 247,394 15,188 4,899 |
||
| 402,397 - 607 3,958 21,517 22,800 8,458 1,087 522 187 |
||
| 59,136 645 3,927 2,970 7,542 |
This page does not form part of the statutory financial statements
Page 14
SOCIAL ARTS FOR EDUCATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Management Brought forward Postage and stationery Recruitment Subscriptions Safeguarding Training Motor & travel Staff Welfare Computer software Sundries Subcontractor Finance Bank charges Governance costs Accountancy and legal fees Consultancy Fees Legal and professional fees Total resources expended Net income |
2022 £ 10,102 1,262 520 2,367 2,745 2,256 1,253 1,630 680 317 302 23,434 255 6,225 - 20,336 26,561 592,137 44,660 |
2021 £ 7,542 192 1,500 1,798 1,140 3,714 546 1,696 736 1,609 302 |
|---|---|---|
| 20,775 - 5,881 1,031 7,022 |
||
| 13,934 | ||
| 496,242 | ||
| 85,975 |
This page does not form part of the statutory financial statements
Page 15