The Farnham Pottery Trust Ltd (A company limited by guarantee)
Report and Financial Statements For the Year Ended 31 March 2022
Company number 06546703 Charity number 1152896
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The Farnham Pottery Trust Ltd (A company limited by guarantee)
Financial Statements For the Year Ended 31 March 2022
| Contents | Page |
|---|---|
| Legal and Administrative Information |
3 |
| Report of the Management Committee | 4 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes forming part of the financial statements | 9 |
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The Farnham Pottery Trust Ltd
Report of the Management Committee for the year ended 31 March 2022
The Management Committee presents its report and financial statements for the year ended 31 March 2022 The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 2015).
Reference and Administrative Information
Company/Charity Name The Farnham Pottery Trust Ltd Operating Name 318 Ceramics Company registration number 06546703 Charity registration number 1152896 Principal Office 318 Ceramics The Farnham Pottery Quennells Hill Wrecclesham Farnham Surrey GU10 4QJ Registered Office 318 CERAMICS Quennells Hill Wrecclesham Farnham GU10 4QJ
Management Committee:
Trustees
Mrs L Jackson Mr A Howard Chairman Ms K Mason Mrs S Radway Ms L Manopoulou
Independent Examiner
Jason Foxwell FCCA FCIE, independent-examiner.net, 39 Enfield Road, Poole, BH15 3LJ
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Annual Report of the Management Committee
Purpose and Aims
Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are to: ‘To advance education in the art and craft of ceramics by the provision of educational courses on the subject’. The company became registered as a charity with the Charity Commission on 16 July 2013.
Activities in the year
2021 into 2022 has been a challenging year for 318 ceramics; while at the same time an exciting one. Firstly, the organisation pulled its way out of COVID restrictions and was able to run a full programme of classes and events. As a group we still observe certain COVID protocols. This has assisted us in tracking and monitoring use of the studios and does no harm in keeping us all safe. Secondly the organisation has been able to realise its ambitions to expand its operation. In the summer of 2022, we are moving premises to be nearer the town of Farnham. With its World Craft Town status, we will feel more part of the hub that Farnham has become regarding the Crafts. Our longer-term plan is to possibly take on a second site, and one has been identified. This will take time to make ready, but it gives the group a target to aim for. The Trustees have been particularly proud of the management committee’s efforts over the course of this last year. They have gone over and above what is required to ensure our students and interested parties are cared for and considered every step of the way.
Governance
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Subscribers to the Memorandum and Articles of Association and such other persons as the Management Committee shall admit to membership shall be members of the Company and of the Management Committee. Members are appointed due to their expertise in the pottery and the creative arts and their commitment to encourage and educate the public in the creative arts skills.
All director members of the Management Committee give their time voluntarily and received no benefits from the charity. No expenses were reclaimed from the charity by the Management Committee.
Reserves Policy
The trustees believe that the Trust should have a small reserve fund of around £20,000 for use as a contingency for emergencies and they will endeavour to build up such a fund as soon as the Trust’s activities permit this.
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Public Benefit
In setting our objectives and planning our activities for the year our Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. Hence in line with the Trust’s Aims, our principal activities for the year included running courses for the general public, children’s courses and a course for young adults with autism.
We are an equal opportunity organisation and in line with our ethos are committed to providing a caring working environment serving our local community and society at large for students from all backgrounds. This environment is free from discrimination on the grounds of colour, race, ethnicity, religion, sex, sexual orientation or disability.
Responsibilities of the Management Committee
Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Management Committee should follow best practice and:
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Select suitable accounting policies and then apply them consistently
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Make judgements and estimates that are reasonable and prudent; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.
The Management Committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure the financial statements comply with the Companies Act 2006. The Management Committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention of fraud and other irregularities.
Members of the Management Committee
Members of the Management Committee, who are directors for the purposes of company law and trustees for the purposes of charity law, who served during the year up to the date of this report are set out on page 3.
Approved by the Management Committee on Thursday, 9 June 2022 and signed on its behalf by:
Mr Ashley Howard Chairman
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INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE FARNHAM POTTERY TRUST LTD
I report to the charity trustees on my examination of the accounts of the Charitable Company for the year ended 31 March 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
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Jason Foxwell FCCA FCIE
independent-examiner.net 39 Enfield Road, Poole, BH15 3LJ
Date: 9 June 2022
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The Farnham Pottery Trust Ltd Statement of Financial Activities (including Income & Expenditure account) for the year ended 31 March 2022
| Unrestricted Funds 66813 8810 75623 27092 41126 68218 7405 51031 58436 |
Restricted Funds 4211 4211 -4211 14473 10262 |
Total Funds 2022 66813 8810 75623 27092 45337 72429 3194 65504 68698 |
Total Funds 2021 |
|
|---|---|---|---|---|
| Income Notes |
||||
| Grants | 19907 | |||
| Donations | ||||
| Income from charitable activities | ||||
| Workshops and courses | 20201 | |||
| Income from other trading activities | ||||
| Studio rental and other income | 8900 | |||
| Investment income | ||||
| Bank Interest | ||||
| Total income | 49008 | |||
| Expenditure on: | ||||
| Raising funds 2 |
7264 | |||
| Charitable activities 3 |
34976 | |||
| Total expenditure | 42240 | |||
| Net income/(expenditure) and net movement in funds for the year |
6768 | |||
| Reconciliation of Funds: | ||||
| Total funds brought forward | 58736 | |||
| Total funds carried forward | 65504 |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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The Farnham Pottery Trust Ltd Balance Sheet as at 31 March 2022
| 31 March 2022 £ 9711 82625 82625 (23638) 58987 68698 58436 10262 68698 |
31 March 2021 £ |
|
|---|---|---|
| Fixed Assets – tangible fixed assets 5 |
13780 | |
| Current Assets | ||
| Cash at bank and in hand | 79201 | |
| Total Current Assets | 79201 | |
| Creditors falling due within one year – advance fees 6 |
(27477) | |
| Net Current Assets | ||
| 51724 | ||
| Total Net Assets | 65504 | |
| The funds of the charity | ||
| Unrestricted Funds | 51031 | |
| Restricted Funds | 14473 | |
| Total Funds | 65504 |
For the year ending 31[st] March 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
The Directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime
These accounts were approved and authorised for issue by the directors, and signed on their behalf as below:
Signed:
Name: Ashley Howard Chairman
Date: Thursday, 9 June 2022
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The Farnham Pottery Trust Ltd
Notes forming part of the Financial Statements for the year ended 31 March 2022
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
(a) Basis of accounting
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), and the Companies Act 2006.
The Farnham Pottery Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
(b) Fund Accounting
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Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
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Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.
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Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
(c) Income
All income is included in the statement of financial activities when the charity is entitled to, and virtually certain to receive, the income and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income:
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Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
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Investment income is included when receivable.
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Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
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The Farnham Pottery Trust Ltd
Notes forming part of the Financial Statements for the year ended 31 March 2022
1. Accounting Policies
(d) Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. The Charity is not registered for VAT, expenditure includes VAT and is reported as part of the expenditure to which it relates.
(e) Equipment
Kilns and other equipment used in classes and workshops is capitalised and depreciated over ten years on a straight line basis.
| 2. Expenditure on raising funds Tutor costs Materials and other costs Paypal fees 3. Expenditure on charitable activities Printing Office expenses Premises Rent Utilities and rates insurance Manager Cleaning Depreciation Kiln maintenance Other costs Bookkeeper and accountancy |
Unrestricted Funds £ 21532 4896 664 27092 Unrestricted Funds £ 1547 19224 9487 2915 1034 1070 1950 3900 41126 |
Restricted Funds £ Restricted Funds £ 4211 4211 |
Total Funds 2022 £ 21532 4896 664 |
Total Funds 2021 £ 6909 49 306 |
|||
|---|---|---|---|---|---|---|---|
| 27092 | 7264 | ||||||
| Total Funds 2022 £ 1547 19224 9487 2915 1034 5281 1950 3900 45337 |
Total Funds 2021 £ 268 19224 5352 2478 499 5160 1995 |
||||||
| 34976 |
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The Farnham Pottery Trust Ltd
Notes forming part of the Financial Statements for the year ended 31 March 2022 (continued)
| 4. Net Incoming Resources for the Year | 4. Net Incoming Resources for the Year | 2022 2021 £ £ 5281 5160 250 245 Equipment £ 51599 1212 52811 37819 5281 43100 9711 13780 2022 2021 £ £ 12871 7765 10767 19712 23638 27477 |
2022 2021 £ £ 5281 5160 250 245 Equipment £ 51599 1212 52811 37819 5281 43100 9711 13780 2022 2021 £ £ 12871 7765 10767 19712 23638 27477 |
|
|---|---|---|---|---|
| This is stated after charging: | ||||
| Depreciation | ||||
| Independent Accountants remuneration | ||||
| 5 Tangible Fixed Assets Cost brought forward Additions Cost carried forward Depreciation brought forward Charge for the year 2022 Depreciation carried forward Net book value as at 31 March 2022 Net book value as at 31 March 2021 |
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| 2022 £ 12871 10767 23638 |
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| 6. Creditors due within one year | 2021 | |||
| £ | ||||
| Accruals and accounts payable | 7765 | |||
| Income in advance | 19712 | |||
| 27477 |
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The Farnham Pottery Trust Ltd
Notes forming part of the Financial Statements for the year ended 31 March 2022 (continued)
7. Analysis of movements in funds
| Restricted funds Fired up – Arts Council England Farnham Building Trust Farnham South Street Trust Farnham TC Jewellery Farnham T Council Marketing Community Funding YC course Total restricted fund Unrestricted funds |
Balance at 1 April 2021 £ 9196 976 600 (103) 3500 304 14473 51031 |
Income £ 75623 |
Expenditure Balance as at 31 March 2022 £ £ 4211 4985 976 600 (103) 3500 304 |
|---|---|---|---|
| 4211 10262 |
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| 68218 58436 |
8. Trustee Remuneration & Related Transactions
No members of the management committee received any remuneration or expenses during the year.
9. Taxation
As a company limited by guarantee, The Farnham Pottery Trust Ltd is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation or Chargeable Gains Act 1992 to the extent these are applied to its charitable objectives. No charges have arisen in the year.
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