REGISTERED COMPANY NUMBER: 08239130 {England and Wales) REGISTERED CHARrrY NUMBER: 1152107 Re rt of the Trustees and Unaudited Financial Statements for the Year Ended 30th Se mber 2024 for The Charfes Causle Trust Hodgsons Chartered Accountants 48 Atwenack Strt Falmouth Comwall TR113JH
The Charles Causle Trust Contents of the Financial Statements for the Year Ended 30th Se tember 2024 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities statement of Financial Position Notes to the Financial Statements 9 to 17 Detailed Statement of Financial Activities 18 to 19
The Charles Causle Trust Re rt of the Trustees for the Year Ended 30th Se tember 2024 The Trustees, who ale 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 September 2023. The Trustees have adopted the provisions of Accounting and ReForting by Charities.. Statement of Recmfflended Practice applicable to charities preparing their accounts in accordan wtth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). OBJECTIVES AND ACTIVITIES Objectives and aims The Charitys Objects, as set out in the Memorandum and Artides of sOCiation. are specifically restricted to the following=_ For the public benefft: The advancement. of the arts particularfy, but not exdusively, literature (especially poety), and most specifically the works of Charfes Causley. - The rna1ntenan and preservation of Charles Causleys fotrner residen, Cypws Well (2, Ridgegrove Hill, Launceston, Cornwall), its contents and its environs" - Preservation and development of the Trusvs pefflnent lleCtiOnS, as a living menK)rial to Charles Causley and his work: - The prowsion of grants, bursaries, sclKJlarships and other kinds of support (financial or othe1, including acLommodation in Cyprus Well) for the development of established, emerging and potential poets, WTiters and other artists who can demonstrate actual or potenlial literary or artistic talent, and present a coherent and compelling case for such support - with the following additional emphases: Particularly, but not exclusively, those from Comwall, Devon and Isles of Scilly; Particularly, but not exclusively, also those who may be considered by the Trust to be disadvantaged andlor vulnerable; And, wherever desirable and feasible, accomplished on a cperate andlor partnership basis with other relevant bodies. Public benefrt The Trustees have complied with the duty in Section 17(5) of the Charities Act 2011 and have had due regard to public benefit guidance published by the Charity Commission in setting the activities required to meet tts objecb'ves. Page 1
The Charles Causle Trust Re rt of the Trustees for the Year Ended 30th Se tember 2024 ACHIEVEMENT AND PERFORMANCE Review of the Year In the past year the Trust has continued to develop its re activities, espeaally around cultural tourism, promoting both Causley's legacy and arts in general on a national stage, while providing poetry and arts opportunities in the South-west peninsula. We have ntInued our focus on the g(M)d and up to date govemance praCtIS at the Trust and increased (x)mmunity and public engagement programmes. After a number of years operations reliant on large scale grant funds from ACE the Trust has substantially continued to diversity its range of funders and sponsors. This has included increased funds through cultural stays at Cyprus Well. increased membership. increased funds through our Causley bookshop on Launceston's high street (11A Merchant House). and an increased range of funding from charitable trusts. councils, and philanthropic donors. Some of the more substantial examples here indude grants from individual donors and Garfield Weston. Launctston Town Council, the Art Fund, and FEAST. We've also continued to develop partnerships with a range of cultural organisations in Comwall working more dosely for example wth The Hypatia Trust, Comwall Pty Library, the Writers Block, Guillemot Press, and North Comwall Book Festival (among many others). The development of 11A Merchant House has been One of the most significant achievements of the Trust lately, and the shop is now operating as a second-hand bookshop, a hub for Causley Trust activity and information, and gallery space, a site to buy Causley bcK)ks and merchandise, and a volunteer and fundraising ntre. The tharity is happy to maintain a prominent high street presen in the i%ntre of LaUnstOn, especially in a site of historic signifjcan(E arKI in close proximty to the town museum pop up and the new library spa. The shop is in the heart of the town in a building of signffic2nt historical and cultural importance. largely staffed by volUntrS and trUSts. and ntinUeS to drive a substantial increase in membership and helps to womote the work of the Trust and the legacy of Charles Causley. Operating in a diverse vmy and workiThJ on Multiple srnaller funded projects has led to a llde breadth of cultural pr(aramming. Induding both arts and culture events launched from The Causley Bookshop at 11A Merchant House, a range of national poetry events in London. and digital FX)ety events with an intemational audien. This year public, o)mmunity and IrKal cultural engagement programming has included for example rolling exhibitions at 11 A, artists talks, a new 'meet the FJ)eV series, a new set of events at the War Memorial, town ghost walks. Fun pala events and hosb'ng a Miracle Theatre production. Our online activty has also been develoFed, wilh new PM)ety masterclawses froTn Cahal Dallat and Anthony Capildeo, new genre wrTting workshops (induding HOor Vlting. and Mystery wrrting), digital fundraiser events, and input from Sue WalIashaddad who joined the vKtbng team at 'The Makerf our online web magazine. A new area of development for the Trust has been relaunching national level events, including a series of events in London, and support from Poety Review and The National Poety Library. This year we ran a number of poetry events and fundraisers in c£)Iia)oration with Kitchen Revolt, and we now have a book launch scheduled for November at the National Poety Library in the Southbank Centre. This year saw continuing efforts tovRrds promoting cultural tourism in Launceston and North Comwall induding relaunching and promoting cultural stays at Cyprus Well back in house and pitching the bookings though ajltural institutional publications such as Poety Review. This year the Trust has again increased the number of active volunteers and membership subscriptions. and we have reviewed and relaunched membership offering. The charity continues to support the development of high profile, mid-career and younglemergent writers and artists in the South-west peninsula and intemationally. The Children and Young Persons competitions ran SUCsSIu11Y as a national award for the second year running and attracted a wide range of entrants from across the UK. The Intemational Poetry Competition continued to attract global entrants and readers. This year the charity provided more than 5 residential artislhvriier residencies at Cyprus Well including Polly Hall, Peter Ursem, Holly Gilson, and Tommy Sissons. The Charfes Causley Trust has also continued to SUPFM)rt the skills development of a number of people aiming to enter culture and heritage sector employment including for Instan providing 6 intemship and 4 mentoring opportunities through and HEIS in the South-west peninsula. This year a SUCsSl Art Fund application was reiVed to Ver the cost for thr intems who worked with the Trust for 11 months. Page 2
The Charles Causle Trust Re rt of the Trustees for the Year Ended 30th Se tember 2024 The Trust is also exploring fruitrul partnerships with publishing houses and exploring raising ftjnds through publishing activity and related events, for Instan we have taken to final proof a Causley anthology 'The Diifted Stream, in partnership with Broken Sleep B(x*s which V11 launched in the first months of our next financial year featuring writing from Roger McGough. Judy O'Kane, Andrew Motion, Vera Yuen. Rowan Williams, Katrina Naomi and Rick Stein. We also sold a new pamphlet in the bookshop 'Five Poems from Cyprus Well, by Tommy Sissons, in partnership wth his residency. And we have begun a new partnership with Guillemot Press to c(}prodU a new 'LaUnstOn Poety Festival, in 2025. During this peri(MJ, the Trust has been ably managed by Nicola Nuttall and a small team of part-time offirS. As staff hours have redu(£d cultural activity has been SUPFM)rted by a vibrant and growing team of volunteers and a wide range of inlems. Their combined efforts have meant that the Trust remains strong and well positioned to mt our ongoing commitment to (MmUnity. arlistic endeavour" education, and wider participation in the Arts, as well as continuing to honour the work of one of the finest British poets of the 20th century, Dr Charles Causley. FINANCIAL REVIEW Financial position At the year end the chartty had the following on the bal Sht. Tangible Fixed Assets of £202,540 Current Assets of £39,699 Current Liabilities of £2.481 Net Assets of £239,758, of which £234,133 were unrestricted funds and £5,625 Vre in the fomi of restricted funds. Reserves policy Reserves held by the Trust are reviewed and discussed by the truStS at rntingS held during the year. The Trust's aim is to have a minimum of 3 month's operating costs in reserves and a rna1ntenan fund for Cyprus Well (Chades Causleys last home. which the Trust owns). The unrestricted reserve as at 30 September 2024 was a surplus of £234.133 c£impared to a surplus of £227,837 in 2023. Going concern The Causley Trust has ntinUed its strategy to move to a more diverse kK)rtfolio of smaller grant funds, philanthropic giving and ftjnds from the 11a shop. cultural stays and increased membership (as opposed to single major grant ndIng like that provided through ACE historically). There has been consistent growth in these wder portfolio areas. The Charity is also able to, and indeed this year has made the decision to, scale back operations to such an extent that they Gan be funded through the existing broader porttolio of funds. The Charity also could scale back to be funded from existing rvserves. until such a time as further larger s(le funding can be obtained and full operations fan recommen. Based on the above reasoning there are no material uncertainties about the charitys abilty to continue for the next 12 months. and therefore the Trustees have concluded that the going concem basis is appropriate. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goveming docJJment. a deed of trust. and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2tK)6. Charity constitution The Charles Causley Trust was incorFM)rated as a Chtable Company on the 3 October 2012. The Charity is managed according to its Artides of Ass(lation. Recruitment and appointment of new trustees Trustees are recnjited and appointed as govemed by Charivs Artides of Association. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in pla(E to provide reasonable assuran against fraud and error. Page 3
The Charles Causle Trust Re rt of the Trustees for the Year Ended 30th Se tember 2024 REFERENCE AND ADMINISTrATIVE DEfAILS Registered Company number 08239130 (England and Wales) Registered Charity number 1152107 Registered office 2 Cyprus Well Ridgegrove Hill LaUnStOn Comwall PL15 8BT Trustees D Devanny K E Stark (resigned 19.2.24) I P Tunbridge G R Nayler M A Cooper NAWatts P D Shuttle (resigned 19.2.24) M H Wright Esq S V Priya C Morgan Company Secretary C Morgan Independent Examiner J P D Hodgson BA (Hons) FCA Hodgsons Chartered Accountants 48 Atwenad( Street Falmouth Comwall TR113JH 0210512025 Approved by order of the board of trust5 on ................ ........ . and signed on tts behalf by: D Devanny - Trustee Page 4
Independent Examingrf_s Re o.rt to the Trustees o.f The Charles CausknTrust Independent examlnerfs report to thè trustees of The Charfes Causley Trust (Ihe Company) I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2024. Responslbllltles and basis of report As the charitys trustees of the Company (and also its directors for the purpx)ses of company law) you are r8sponsible for the preparation of the accounts in aCcrdan with the requrements of the Companies Act 2006 Cthe 2006 ACV). Having satisfied myseEf that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independenl examination. I report tn respect of my èxaminalion ol your charitys aGGounts as carried out under Section 145 of the Charities Act 2011 (the 2011 ACV). In carrying out my examination I have fdlowed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Indopendgnt examlnerfs statsment I have completed my examinalion. I confimi that no matters have come to my attentlon in connecllon wlth the examination giving me cause to believe: accounting records We not kept in SPect of the Company as required by Section 386 of the 2006 Act- or the aGcounts do not accord with those records. or thè accounts do not ccrnpty with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts giv& a true and falr vlew whlth is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordan with the methods and princip18s of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charlties preparing their accounts in accordance with the Financial Rep)rting Standard applicable In the UK arKI Republlc of Ireland (FRS 102)). I have no concems and have come across no other matters in Gonnection with the examination to whlch attentton should be drawn in Ihis report in order to enable a woper understanding of the accounts to be reached. J P D Hcrtjgson BA (Hons) FCA Hodgsons Chartered Accountants 48 knenack Street Falmouth Comwall TR113JH Page 5
The Charles Causle Trust statement of Financial Activities for the Year Ended 30th Se tember 2024 30.9.24 Total funds 30.9.23 Total fijnds as restated Unrestricted funds Restricted fijnds Notes INCOME AND ENDoWMEfS FROM Donations and legacies 20.034 20,034 34,455 Charitable activities Charitable actiwties 2,653 2,653 1,718 Other trading activibes other infX)me 2,836 1,656 2,836 1.656 16.323 102 Total 27,179 27,179 52,598 EXPENDITURE ON Raising funds 3,150 3,150 3,429 Charitable activities Charitable actiwties 32,487 11,745 44,232 90.312 Total 35,637 11,745 47,382 93.741 NET INCOMEI(EXPENDITURE) Transfers between funds (8,458) 14,754 (11,745) (14,754) {20,203) (41,143) 14 Net movement in funds 6,296 {26.499) (20,203) (41,143) RECONCILIATION OF FUNDS Total funds brought foNard 227,837 32,124 259,961 301.104 TOTAL FUNDS CARRIED FORWARD 234,133 5.625 239,758 259,961 The notes fonn part of these financial statements Page 6
The Charles Causle Trust statement of Financial Position 30th Se tember 2024 30.9.24 Total funds 30.9.23 Total fijnds as restated Unrestricted funds Restricted fijnds Notes FIXED ASSErs Tangible assets 10 202.540 202,540 203,175 CURRENT ASSETS Stocks 11 Debtors: amounts falling due viithin one year 12 Cash at bank 1,770 920 31,384 1,770 920 37,009 1,070 11,138 46,084 5,625 34,074 5,625 39,699 58.292 CREDITORS Amounts falling due within one year 13 (2,481) (2,481) (1.506) NET CURRENT ASSErs 31,593 5,625 37,218 56.786 TOTAL ASSEfs LESS CURREKr LIABILITIES 234,133 5,625 239,758 259.961 NET ASSETS 234,133 5,625 239,758 259,961 FUNDS Unrestricted funds Restricted funds 14 234.133 5,625 227,837 32,124 TOTAL FUNDS 239,758 259,961 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in ac(J)rdance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable MpanY kpS a(££)unting records that comply wth Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a and fair wew 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 accordan wth the requirements of Sections 394 and 395 and which othewse comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable (x)mpany. (b) The notes fonn part of these financial statements Page 7 continued...
The Charles Causle Trust statement of Financial Position - continued 30th Se tember 2024 These financial statements have been prepared in accordan with the provisions applicable to charitable companies subject to the small companies regirne. The financial statements were approved by the Board of Trustees and authorised for issue on 0210512025 . and were signed on its behalf by: D Devanny - Trustee The notes fonn part of these financial statements Page 8
The Charles Causle Trust Notes to the Financial Statements for the Year Ended 30th Se tember 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable (l)any. is a public benefit entity under FRS 102. have been prepared in aC(rdan with the Charities SORP (FRS 102) 'Accf)unting and Reporting by Charities: Statement of Recommended Practi(* applicable to charities preparing their a(xounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeGtive 1 January 2019)., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. the Companies Act 2006. The financial statements have been prepared under the historical cost cNvention. Income All income is recognised in the Statement of Financial Activtties once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Cash donations are regnised on rlpt. Other donations are rniSed once the charity has been notified of the donation. unless performance nditionS require deferral of the amount. IncDme tax recoverable in relation to donations r1Ved under Gift Aid or deeds of venant is recognised at the time of the donation. Legacies are recognised on rlpt or othetV&qse rf the charity has been notified of an impending distribution, the amount is known. and the receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Tumover is measured at the fair value of the nSIderation reIVed or r1Vable and represents amounts reIvable for go(MJs and services provided in the nom)al course of business, net of discounts, VAT and other sales related taxes. Grants are recognised when there is eviden of entitlernent to the gtft, receipt is probably and the amount can be measured reliably. Expenditure Liabilities are recx)gnised as expendibjre 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 wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is ac(x)unted for on an accruals basis and has been classified under headings that aggregate all cost related to the G9tegory. Where costs cannot be directly attributed to particular headings they have been allocated to activits'es on a basis consistent with the use of reSoUrs. Charitable activities Unrestricted funds are available for use at the discretion of the trustees in furtheran of their charitable objectives unless the funds have bn designated for other purposes. Restricted funds are subject to specific condttions by donors as to how they may be used. The purposes and uses of the restrkcted funds are set out in the notes to the financial statements. Designated funds are those which the trustees have determined will be set aside for future expected repairs and Maintenan at Cyprus Well. The rental income from this propety is being allocated to this fund as it is reived. Going concem sin the 2023 year end the Charitys existing grant funding has ended. At this time no further signfficant funding has been obtained, however the Charity is able to scale back operations as well as make use of other infxime streams, until such a time as further funding can be obtained and full operations can recommen. However. based on the above reasoning there are no material uncertainties about the charitls abilty to contirxje for the next 12 months. and therefore the Trustees have conduded that the going concem basis is appropriate. Page 9 continued...
The Charles Causle Trust Notes to the Financial Statements - continued for the Year Ended 30th Se tember 2024 ACCOUNTING POLICIES - continued Intangible fixed assets Copyright represents the pennission obtained for the use of p)ems on an app for two years from the release date of the app (June 2019). This (x)st has been amortised on a straight line basis over this two year peri(xl. Tangible fixed assets Depreciats'on is provided at the followng annual rates in order to vKite off each asset over its estimated useful life. Plant and machinery 20% on reducing balan Tangible assets except freehold propety are stated at cost (or deemed cost) less accumulated depreciation and accumulated impaimient losses. Cost includes the original purchase pri, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restorats'on (t)sts. Freehold property is stated at valuation. Revaluations are made wtth sufficient regularity to ensure the carrying amount does not materially dtffer from that which would be determined using fair value. Personal effects at cost is stated at its residual value and as such. holds no deprectation FK)Iicy. stocks Stocks are valued at the lovRr of cost and net realisable value. after making due allowan for obsolete and slow moving items. Taxation The charity is exempt from rporatIOn tax on its tharitable activities. DONATIONS AND LEGACIES 30.9.24 30.9.23 as restated Donations Membership fees Grants 11,354 860 7,820 6,065 1,183 27,207 20,034 34,455 Page 10 continued...
The Charles Causle Trust Notes to the Financial Statements - continued for the Year Ended 30th Se tember 2024 DONATIONS AND LEGACIES - continued Grants reived, induded in the above, are as fdlows: 30.9.24 30.9.23 as restated Other grants New Art Collections Fund Volunteer Cornwall Warm Banks Garfield Weston The Cckop Community Fund The Finnis Stt Foundation The Carew Pole Foundation The Rotary Club Launceslon Town Council FEAST Cause 4 - Network grant 731 6,576 750 15.000 2,290 1,500 1,000 1,650 2,500 1,050 1,980 7,820 27,207 OTHER TRADING ACTMTIES 30.9.24 30.9.23 as restated Fundraising events Rents received 2,836 15,152 1,171 2,836 16,323 SUPPORT COSTS Support cL)sts Goveman costs Totals Charitable activities 6.089 1,037 7,126 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is staled after ChargIn(credItIng)= 30.9.24 30.9.23 as restated Depreciats'on - owned assets Independent examiners fee for independent examination Independent examiners fee for other seTrllces 635 1,140 767 1,506 420 Page11 continued...
The Charles Causle Trust Notes to the Financial Statements - continued for the Year Ended 30th Se tember 2024 TRUSTEES. REMUNERATION AND 8ENEFrrs There were no trustees. remuneration or other benefits for the year ended 30th September 2024 nor for the year ended 30th September 2023. Trustees. expenses No trustees vRre reimbursed for OLrt of pket expenses during the current or the previous year. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivrriES Unrestricted funds Restricted funds Total funds as restated INCOME AND ENDOWMENTS FROM Donations and legacies 26.223 8,232 34,455 Charitable activities Charitable activities 1.718 1.718 Other trading activities Other In(Me 16.093 109 230 (7) 16.323 102 Total 44.143 8,455 52.598 EXPENDITURE ON Raising funds 3,002 427 3,429 Charitable activities Charitable activities 30,137 60,175 90,312 Total 33.139 60,602 93.741 NEf INCOMEI(EXPENDITURE) 11,004 {52,147) (41,143) RECONCILIATION OF FUNDS Total funds brought foNard 216,832 84,272 301,104 TOTAL FUNDS CARRIED FORWARD 227,836 32,125 259,961 Page 12 continued...
The Charles Causle Trust Notes to the Financial Statements - continued for the Year Ended 30th Se tember 2024 PRIOR YEAR ADJUSTMENT The comparative figures have been amended in resFECt of rent payments. It was found this year that rent costs were incurred for the purwses of operating the shop and not for the collection of rental income. INTANGIBLE FIXED ASSErs Copyright COST At 1 st October 2023 and 30th September 2024 325 AMORTISATION At 1 st October 2023 and 30th September 2024 325 NEf BOOK VALUE At 30th September 2024 At 30th September 2023 10. TANGIBLE FIXED ASSErs Personal effects at cost Frhold property Plant and machinery Totals COST OR VALUATION At 1 st October 2023 and 30th September 2024 195.000 5.815 5,000 205,815 DEPRECIATION At 1 st October 2023 Charge for year 635 635 At 30th September 2024 3,275 3,275 NEf BOOKVALUE At 30th September 2024 195,000 5,000 202,540 At 30th September 2023 195,)0 3,175 5,000 203,175 Cost or valuation at 30th September 2024 is represented by: Personal effects at cost Freehold property Plant and machinery Totals Valuation in 2020 Valuation in 2021 Valuation in 2022 Cost 29,392 10,000 10.000 145,608 29,392 10,000 10,000 156.423 5.815 5,000 195,000 5,815 s,000 205,815 Page 13 continued...
The Charles Causle Trust Notes to the Financial Statements - continued for the Year Ended 30th Se tember 2024 10. TANGIBLE FIXED ASSEfs - continued If freehold property had not been revalued tt Vuld have bn induded at the following historical cost: 30.9.24 30.9.23 as restated Cost 145,608 145.608 Freehold propety was valued on an open market basis on 1st April 2022 by Stags. Freehold propety (2 Cyprus Well) vms transferred from the Charity (1102459) at its original cost (£145,608) by way of donation. 11. STOCKS 30.9.24 30.9.23 as restated Stod(s 1,770 1,070 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.24 30.9.23 as restated Trade debtors Other debtors Prepayments 65 731 124 10.982 156 920 11,138 13. CREDITORS: AMOUNTS FALLING DUErHIN ONE YEAR 30.9.24 30.9.23 as restated Trade creditors 2,481 1,506 Page 14 continued...
The Charles Causle Trust Notes to the Financial Statements - continued for the Year Ended 30th Se tember 2024 14. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds At 1.10.23 At 30.9.24 Unrestricted funds General fund 227,837 {8,458) 14,754 234,133 Restricted funds Art Fund Culture Recovery Fund Garfield Weston Fund Lighting the Sun 22-23 2,406 21.414 7.924 380 (4,329) (489) (2,299) (4,628) 1,923 (20,925) 5,625 4,248 32,124 (11,745) (14,754) 5,625 TOTAL FUNDS 259,961 (20,203) 239,758 Net rrmjvement in funds. included in the above are as follows: Incoming resources ReSoUrS expended Movement in funds Unrestricted funds General fund 27,179 (35,637) (8,458) Restricted funds Art Fund Culture ReVery Fund Garfield Weston Fund Lighting the Sun 22-23 {4,329) {489) {2,299) {4,628) (4.329) (489) (2,299) (4,628) (11.745) (11.745) TOTAL FUNDS 27,179 (47,382) (20,203) Comparatives for movement in funds Net movement in funds At 1.10.22 At 30.9.23 Unrestricted funds General fund 216.832 11.005 227,837 Restricted funds Art Fund Culture Re(x)very Fund Gaffield Weston Fund Lighting the Sun 22-23 720 (1,135} 7,345 (59,078) 2.406 21,414 7,924 380 22,549 579 59,458 84,272 (52,148) 32,124 TOTAL FUNDS 301,104 (41,143) 259,961 Page 15 continued...
The Charles Causle Trust Notes to the Financial Statements - continued for the Year Ended 30th Se tember 2024 14. MOVEMENT IN FUNDS- continued Comparative net movement in funds, induded in the above are as follows: Incoming resources ReSoUrS expended Movement in funds Unrestricted funds General fund 44,143 (33.138) 11,005 Restricted funds Art Fund Culture Recovery Fund Garfield Weston Fund Lighting the Sun 22-23 730 (10) {1.135) (141) (59,317) 720 (1,135) 7,345 (59,078) 239 8,455 (60,603) (52,148) TOTAL FUNDS 52.598 (93.741) (41,143) RESTRICTED FUNDS Culture Reve Fund At the end of the year to 30th September 2021 the Trust recEived confimiation that it would receive grant totalling £95,073 from the Arts Council as part of ifs Culture RefY)very Fund Emergency Resour Support. This was received in total in this finanal year. This was fully spent in the year expt for a balance provided intentionally to alloN the charity to build its reserves. The project has been used to engage with some the most ]ltUrallY exduded young people. The Trust has worked in partnership with schools and universities to Sour intemships and allow opportunities to engage in creative and cultural activities. The funding has also bn used for kN)etry competitions, an intemational show(ase, artistic residencies and workshops ar)d a summer festival and digital engagement through the Digital Cultural Hub. htin the Sun During the financial year ending September 2022, the Trust received confinnation that it had been awarded a new grant from the Arts Council. totalling £89,523. in order to fund the Lighting the Sun project. A final payment of £8,952 was received in July 2023 bringing the project to an end. Art Fund A total grant of £14,900 was awarded during the year ended 2021 by the Nats'onal Art Collections Fund, for a project called Reimagine. The objective of this project was to expand the trusts visual arts offer. allowing them to work wtth the thal communrbes. neiworks and young people. This project and funding came to an end in October 2022. A further su(Lessful application was made in year to obtain funding for thr 11 month intemships due to tEgin September 2023. Gatheld Weston Fund A total sum of £15,000 was granted by the Garfield Weston Foundation in June of 2023. This was to be paid in iwo halves split over 24 months. Restrictions are in Pla that dictate these monies are to only be used for the purpose of core costs. Page 16 continued...
The Charles Causle Trust Notes to the Financial Statements - continued for the Year Ended 30th Se tember 2024 14. MOVEMENT IN FUNDS- continued Transfers between funds A number of transfers have been made in the year between general and restricted funds. A balan held in the Culture Re(x)very fund of £20,925 has been transferred to the General fund in line with the initial agreement which allowed for the building of reseNes. Other transfers were made trom the General fund lo restricted funds which had a negative balan at year end in order lo bring these balanS to zero. these totalled £6,171. 15. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 30th September 2024. Page 17
The Charles Causle Trust Detailed Statement of Financial Activities for the Year Ended 30th Se tember 2024 30.9.24 30.9.23 as restated INCOMEAND ENDOwmErS Donations and legacies Donations Membership fees Grants 11,354 860 7,820 6,065 1,183 27,207 20,034 34,455 other trading activities Fundraising events Rents reiVed 2.836 15,152 1,171 2,836 16,323 Charitable activities Merchandise sales 2,653 1.718 Other income other income 1.656 102 Total incoming resources 27,179 52,598 EXPENDITURE Raising donations and legacies Raising funds Rent 2,679 750 3,150 3,150 3.429 Charitable activities Opening stock Purchases Closing stod( Travel and subsisten( Poetry prizes Artist in residen costs Cyprus Well rna1ntenan Lxjsts Bank charges Events Subscriptions Freelance work Internship costs 1,070 1,199 (1,770) 3,241 729 {1,070) 81 2.733 1,616 2,698 258 8,146 1,282 61,379 194 2.110 181 590 935 28,234 4,329 37,106 81,093 Support costs Support costs Rates and water Carried forward 591 591 This page does not fomi part of the statutory financial statements Page 18
The Charles Causle Trust Detailed Statement of Financial Activities for the Year Ended 30th Se tember 2024 30.9.24 30.9.23 as restated Support costs Brought fOard Insuran Telephone Postage and stationery Sundries Publicity Plant and machinery 27 2,144 832 591 2,166 871 138 415 2,106 767 60 2,143 635 6,089 7.054 Governance costs Accountancy Professional fees 1.002 35 1,926 239 1.037 2,165 Total resources expended 47.382 93,741 Net expenditure {20,203) (41.143) This page does not fomi part of the statutory financial statements Page 19