Charlty reglstratlon number 1155878 Company regislratlon number 06323530 (England and Wales) MOOREARTS: MILLOM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
MOOREARTS: MILLOM LEGAL AND ADMINISTRATIVE INFORMATION Trustaas Miss S Wilson Mr D Seal M8 S B Cloudsdal8 Mr S J Falkner M$ E Holiday Mrs L Jones Miss L Jonas Mrs D O'Brlen (Appointed 1 July 2024) (Appointed 1 July 2024) (Appoinled 1 July 2024) Charlty number 1155878 Company number 06323530 Registered offi¢e Halecote st Lukes Road Haverigg Millom Cumbria LA18 4HB Ind&pend6nt examln8r Redhead Accouniancy Ltd Bank Hou88 Grrffin Street Broughton-in-Furnes5 Cumbria LA20 6HH
MOORE ARTS: MILLOM CONTENTS Page Trusl88s r8POrt Independent examiner's report stalemont of financial activlties Balance sheel Notes to the financlal statsm8nts 6-12
MOOREARTS: MILLOM TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY 2024 The trustees present thair annual raport and flnancial st8lem8nts for the year ended 31 July 2024. The financial statements have been prepared in accordance wth the accounting policies set out In note 1 to the financial statements and comply with tha tnjstegs's Igov@ming documentl, the Companies Acl 2006 and "Ac¢ounling and Reporting by Charltlès., Slatement of Recommended Practice appli¢8blè lo charities preparing their accounts in accordance with the Flnanclal Reportlng Standard applioable in the UK 8nd Republlc of Ireland (FRS 102)" {8ffecllve 1 January 2019). Obje¢tiVg8 and a¢tlvltles The trust88s's obj8Cts are lo provide facilities. training and education to the disadvantaged young people of Millom who want to @ngage in theatre, dance and associated p8rforming and visual arts, and to further and build awareness of the perfonning and visual arts to the local communlty. Therg has been no change in these during the year. Publio benefit The trustees have paid due regard lo guidan¢e issued by the Charlty Commisslon in deciding whal aetlvllles the trusl8es shoijld undertake. Achievements and performance Significant activities and achi6vements against objectives Flnancial review Rèsowes pollcy It is lh8 policy of th8 trustees that unrestricted funds which have not been designated for a speclfic use should be maintain8d al a lav816quivalent to thr&e month's expenditure. Th8 trust888 considers that reserves at this level will ensure that, in the event of a significant drop in fijnding, they wlll ba ablg lo continua the trustees'8 curr8nt activities while consideration is given to ways in which additional funds may be raised. This level of reserve$ has b86n maintained throughout th8 year. Major risks The trusla8s have assessgd the major risks lo which the trustees is exposed, and are satisfied that systems are in place to mitlgata exposure to the major risks. structure. governance and manag8m8nt Tha twslaes is a company limitgd by guaranloe. The trustees, who are also Ihe directors for the purpose of company law, and who served durlng tha yoar and up to Ihe date of signatur8 of the financial statements were.. Miss S Wilson MrD Seal Ms C Gardnar Ms K Thornpson Ms S B Cloudsdal? Mrs J Falkner s E Holiday Mrs L Jones Miss L JDne8 Mrs D O'Brten (Resigned 31 January 2025) (Resigned 31 October 2023) (Appointed 1 July 2Q241 (Appointed 1 July 20241 (Appolntad 1 July 20241 Rocruitment and appointment of trustees None of the trustees has any ben8ficial interest in th@ company. All of the truslees are members of the company and guarantee to contribute £1 in the event of a winding up.
MOOREARTS: MILLOM TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Other matters The Iru$tees report was approved by the Board of Trustees. .rdrfL Jones Trusioe Date: of
MOORE ARTS: MILLOM INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOORE ARTS: MILLOM I report to the trustees on my examination of the financial statements of Moore Arts, Millom Ilhe trustees) for the year ended 31 July 2024. Responslbllltles and basls of report As the trustees of the Iruste&s (and also its directors for the purposas of company law) you are rèsponsible for the preparallon of lh8 financlal statements in accordance with Iho roquiramenls of th8 Companles Act 2006 (the 2006 Acll. Having satisfiad mys8lf that the financlal slataments of thé trustees ara not r8quir8d to bg audited und8r Parl 16 of thg 2006 Act and ar8 61iglbl8 for Indapendenl examlnatlon, I report In respect of my examination of the Irustees's financial statements carrled out under section 145 of the Charities Act 2011 {the 2011 Act}. In carrying out my examination I have followed all the applicable Directions given by th& Charily Commission und8r section 145{51{bl of the 2011 Act. Independent examiner's statement I hav8 compl8led my examination. I confimi that no matters have come to my altentlon In connéction with the examlnatlon givlng me ¢ause to believe that in any material respect.. accounting records were not kept in respect of the trustees as required by section 386 of the 2006 Act- or th8 fin8ncial sta18m8nts do not accord with those records., or tha flnanclal statemènts do not comply with the accounting requirements of secllon 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is nol a matter considered as parl of an independent 8xaminalion', or th@ financial statèmants have not been prepared in accordance with the methods and principles of the staternent of Recommended Practlce for ao¢ounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and 8public of Ireland (FRS 102)- I have no concems and have come across no other matters in connection with the examinalion to which attention should be drawn in this report in order to 8nabl8 a proper understanding of the financial statements to be reach8d. Rgdhead Accountancy Ltd Bank House Griffin Street Broughton-In-Furness Cumbria LA20 6HH Dated: 30 May 2025
MOORE ARTS: MILLOM STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JUL Y 2024 Unrestrictgd R8Strl¢ted funds funds 2024 2024 Total Unrastrlcted Rastrlcted funds funds 2023 2023 Total 2024 2023 Notes In¢ome from: Donation5 and legacies Charitabla aetlvltlas Investments 47,290 6,400 87 5,000 138,369 52,290 144,769 67 17,713 22,520 17,713 81,698 59,178 Total Incomo 53,757 143,3e9 197,126 40,233 59.178 99,411 Expenditure on: Charitable actlvities 24,741 138.770 163,511 52,094 56,600 108,694 Total expenditure 24,741 138,770 163.511 52.094 56,600 108,694 Net Incomel{expendlture) and movement In funds 29,016 4,599 33,615 (11,861) 2,578 19,283) R8conclllatlon of funds: Fund balances at 1 August 2023 2,402 7.692 10,094 14,263 5,114 19,377 Fund balances at 31 Juty 2024 31,418 12,291 43,709 2.402 7,692 10,094 The statement of financial activities includes all gains and losses recognised in tho year. All income and expenditure derive from continuing activities.
MOORE ARTS: MILLOM BALANCE SHEET ASAT31 JULY2024 2024 2023 Notes Current assets Debtors Ca8h at bank and in hand 10 8,491 40,352 1,441 13,861 48,843 15,302 Creditors: amounis falling due within on8 year 12 15,134) 15,208) Net current assets 43,709 10.094 Net assets excludlng penslon Ilablllty 43,709 10,094 The funds of the trustees R8Strict8d income funds Unr&strict8d funds 12,291 31,418 7,692 2,402 43,709 10,094 The company is enlitled lo the exemption from the audit requiremenl contained in section 477 of the Companles Act 2006, for th8 y8ar end6d 31 July 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2008 with respect lo accounting r8cords and the prepar8tion of financial statements. The members have not required the company lo obtain an audit of Its finan¢lal statements for the year in question in accordance with section 476. These financial statement5 have been prepared In accordance wlth the provlslons applicabl8 to companies subject to the small companies regirne. The financial slatements were 8pproved by th8 truste8s on IthL Jones Trustgo Company registration number 06323530 (England and Wales)
MOORE ARTS: MILLOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JUL Y 2024 Accounting polici¢s Charlty Infomiatlon Moore Arts- Millom 13 a private company limited by guarantee incorporated in England and Wa198, The registered offic6 is Halacote, St Luk&s Road, Havefigg, Millom, Cumbrla, LA18 4HB. 1.1 Accountlng convantlon The financial statements have been prepar6d in accordance with the INste8s's [governing documentl, Ihe Companies Act 2008, FRS 102 "Tho Financial Rgporting Standard applicabla in tha UK and Republic of Ireland" {'FRS 102.1 and the Charities SORP 'Accounling and Reporting by Charilies: Statement of Rocommended Practice applicable to charities preparlng their accounls in accordance wlth the Financial Reporting Standard applic8ble in tha UK and Republic of Ir8land (FRS 1Q2)" lgffgctive 1 January 2019). The Irust88s is a Publ1¢ Benefit Entlly as deflned by FRS 102. The truste88 has taken advanlag8 of th6 provisions in the SORP for charitl8s not to prapar8 a Stat8m6nl of Cash Flows. The financial statements are prepared in sterling. which is Ihe funclional currency of Ihe trustees. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under Ihe historical cost convention, [modified to include the revaluation of fr8ghold propertigs and to include inveslm8nt prDP8rties and certain financial instrumgnts at fair valuel. The principal accounting polici8s adopt6d are $8t out below. 1.2 Going concern At the time of approving the financial statemants, Ihe trustaas have a reasonable axpactation that the Irustaes has adequate resources to continue in operational existence for the foreseeable future. Thus the truslees ontinue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unreslricted funds are available for use at Ihe discretion of the trustees in furtherance of their charitable objectives. Restricled funds are subject to specific conditions by donors or grantors as to how they may be used. The purposès and usés of Ihe restrictéd funds are set out in the notes lo the financial slalements. Endowment funds are subjeGt to specific conditions by donors that the capltal must bè maintained by the trustees. 1.4 Incomè Inwme is recognised when the trustees is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it 18 probable that income will be received. Cash donations are recognised on receipt, other donations are recognised once the trustees has been notified of the donation, unl8ss p&rformanc& conditions raquire déferral of thé amount. Income tax rècoverable in relation to donations recaived undar Gfft Ald or daads of ¢ovenant Is recognlsed al the tlme of the donallon, Legacles are recognlsed on receipt or othemlse if thg trust88s has be8n notified of an impending distiibution, the amount Is known, and reIpt is expected. If the amount is not known, the legacy is treated as a contingent asset.
MOORE ARTS: MILLOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accountlng pollcles {Continued} 1.5 Expenditure Exp&ndlture Is rscognlsed onca th&re Is a legal or con$tru¢tive obligation lo Iransfer economic benefit to a thlrd party, It Is probable that a transfer of economic benefils will be required in settlernenl, and the amount of the obligallon can be measured reliably. Exp8nditure is classified by activity. The costs of each actlvlty ara mada up of the total of dlract costs and shared costs, including support costs involved In undertaktng each acllvity. Dlrecl costs attrfbutable lo a slngle activily are allocated directly lo that activity. Shared costs which contribute to more than one activity and support costs which ara not attrlbutabla to a slngle activity are apportion8d between those activities on a basis consistont with th8 usa of résources. Central staff costs ara allo¢ated on the basis of time spent, and depreciation charges are allocated on the portlon of the asset's Use. Unrestricted funds are available for use at the dlscretlon of the trustees In furtherance of thelr charllable objectives, 1.6 Cash and cash equlvalents Cash and cash equivalents include cash in hand, d6posits held al call with banks, other short-term liquid inv8Stments with original maturities of thr88 months or18ss, and bank overdrafts. Bank ovardratts are shown wlthln borrowlngs in ourrent liabilities. 1.7 Financial instrument8 Thè trustees has e18¢ted to apply the provislons of Section 11 'Basic Financial Instruments, and Section 12 'Other Flnanclal Instwments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the trustees's balance she@t when the trustaes becom@s party lo the ¢ontra¢tual provisions of the instrument. Financial assets and liabiltties are offset, wilh the net arnounts pres8nted in the financial stat8m8nts, when there is a legally enforcaable rlght to Sat off the racognlsed amounts and there is an intention lo séttlé on a nel basis or to realise the asset and settle the Ilablllty simultaneously, Basic flnancial assets Basic financial assets, whlch Include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using tho effective interest method unless the arrangement constitutes a flnancing transaction, whera the Iransacllon is measured al the present value of the future roceipts discounted at a markel rate of Interest. Flnanclal assets classified a5 receivable wilhin one year are not amortised. Basic linancial liabilitlgs Basic financial liabilities. including creditors and bank loans are inltially recognlsed at transaction pdce unless the arrangom@nt constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilitios classtfied as payable within one year are not amortised. Debt instrum&nls ara subsequently carrlad al amortlsad cost, using the effective inlerest rate method. Trade credltors are obligalions lo pay for goods or services that have be@n acquired in the ordinary course of operatlons from suppliers. Amounts payable ara classified as current liabilitias if payment is due within one year or less. If not, they aro presont8d as non-curtBnl liabilities. Trada ¢redltors ara recognisad Initially at transaction price and subsequently measured at amortised cost using the effe¢tive interest method, Derecognitlon of IlnanGlal Ilabllltles Financial liabllltles a dere¢ogni$ed when Ihe trustees'5 Gonlractual ob5igation5 expire or ar? discharged or cancelled.
MOORE ARTS: MILLOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Ac¢ounllng pollcles (Continued) 1.8 Employee benefits The cost of any unused holiday 6ntitl&ment is recognised in the period in which the employee's servlces are received, Termlnation benefits are recognised immediately as an expense when Ihe trustees Is demonstrably committed to tarminate the employmenl of an employea or to provide termination benefits. 1.9 Rotirement benefits Payments to definèd contrlbutlon retlremant beneflt schemes are charged as an expensè as they fall due. Crltical accounting eslimates and judgements In the application of th6 trusteès's accountlng policies. th8 trusl88s are r8quir8d to mak8 judgem8nts, eslirnates and assumptlons about the carrying amount of assets and liabilitias that ar& not roadily appar8nt from other sources. The estimates and associated assumptions are based on hlstorlcal experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are revlewed on an ongoing basis. Revlslons to accountlng estimates arg r8cognised in the period in which the estimale is revised where the revlslon affects only that period, or In tha parlod of the revislon and future periods where the revision affecls both current and future periods, Donatlons and logaclos Unrestrlcted Restrlcted fund8 funds Total Unrestricted funds 2024 2024 2024 2023 Donations and gifls Govarnmenl grant Membarship fe8s 644 45.750 5,896 1,273 11,600 4,840 40,750 5.896 5,000 47,290 5,000 52,290 17,713
MOORE ARTS: MILLOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Charllabla actfvitles Charitable Incomè 2024 Charltable Income 2023 Grants and funding Grants, donations and subscriptions 138,369 6.400 59,178 22,520 144,769 81,698 Analysis by fund Unreslrrcted funds Restricted funds 6.400 138,369 22,520 59,178 144,769 81,698 For th• year ond•d 31 July 2023 Unreslricted funds Restricted funds 22.520 59.178 81.698 Incom6 from Invostment8 Unrestricted Unrestricted funds funds 2024 2023 Intarest receivable 67
MOORE ARTS: MILLOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Expenditure on charitable actlvltles 2024 2023 Dlrect costs Staff costs UF Purchasbs Rant and rates Insuranc8 Light and ha81 Talephone RF Purchases and other direct costs Accountancy fees and subscriptions Sundry expenses Bank ¢harges Repairs and maintenance 120,945 258 7,201 950 6,189 621 2,498 748 1,785 342 5,202 90,835 2,000 8.618 1,542 5,504 463 203 236 1,261 32 146,737 108,694 Share of support and governance costs (see nole ) Support 16,774 163,511 108,694 Analysis by fund Unreslrict8d funds Restricted funds 24,741 138,770 52,094 56,600 163,511 108,694 Trustees None of the Iru5tees lor any persons connoctad wllh them) received any ramunaration or benefits from the trustees during the year. 10
MOOREARTS: MILLOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Employegs Number of omployeos The average monthly number of employees during the year was- 2024 Number 2023 Number Taxation The ¢harity is exempt from laxatlon on its activities because all Its Income Is 8pplled for charitable purposes. 10 Debtors 2024 2023 Amounts falling due wilhin on8 year: Trade debtors Other debtors 1,441 8,489 8,491 1,441 11 Loans and overdrafts 2024 2023 Bank loans 3,926 5,208 Payable wlthln one year 3,926 5,208 11
MOOREARTS: MILLOM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 12 Creditors., amounts falling dug within one year 2024 2023 Notes Bank loans other laxalion and social security Accruals and deferred income 11 3,926 808 400 5,208 5,134 5,208 12-