REGISTERED CHARITY NUMBER: 1156217
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
FOR
LICHFIELD ARTS
Inspired Accountants Limited
Chartered Certified Accountants
4 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7FE
LICHFIELD ARTS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 11
Detailed Statement of Financial Activities 12 to 13
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LICHFIELD ARTS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31August2024.Thetrustees have
adoptedthe provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charities preparing
theiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Thecharity'sobjectivesaretoinspireandenrichourcommunitythroughthetransformativepowerofthearts.Byensuringthe quality
andrelevanceofourprogrammesandpartnerships,westrivetocreateopportunitiesforthewiderLichfieldDistrictcommunity and
beyond.Wearecommittedtobeingboldinoureffortstoaddressandreduceinequalitiesinaccesstoartisticexperiences and
opportunities,ensuringthateveryonecanparticipateinandbenefitfromthearts.Ourmissionistoincreasequalityaccesstothe arts
across Lichfield District.
Achievement and Performance
Over the period 1st September 2023 to 31st August 2024 we were able to operate with no restrictions,with the charity'sTrustees having
due regard at all times to guidance published by the Charity Commission on public benefit.
Staffing and Volunteers
A restructuringof the organisationtook place during the year.This involvedthe board of trustees delegatingday to day management of
the charityto a new operationsteam led by an operationsmanager,with the operationsteam overseeingand coordinatingall activities
delivered by our various strands of activity.
Aftermanyyears'dedicatedservicebetweenthemweweresadtoseeRobTilstonandourvice-presidentStuartDaviesstepdown as
trustees.
Followingavolunteerexperiencereviewanewvolunteerstrategywasimplementedtodiversifythevolunteerteam,addmore varied
roles, boost volunteersupport from the organisation,ensure volunteersare deployed to roles that best meet their skill sets, implement a
fairer way for volunteers to be assigned roles and recruit a new volunteer coordinator
ACHIEVEMENT AND PERFORMANCE
Events and Concerts
As a charity our objectives are focused on ensuring that Lichfield and the surrounding area has a thriving
arts community,and that all residents and visitorscan experienceand be inspired by a diverse range of arts.We are pleased to say that,
on the occasion of our 50th anniversary, this year proved very successful in delivering against these objectives.
Of particular note:
- There was a large increase in the number of concertsand other LichfieldArts events at the Guildhall,the CathedralHotel and Sandfields
Pumping Station, with audiences being up significantly on last year.
- Our three annual festivals- Fuse, Jazz & Blues and the LichfieldFestival Of Folk - were all very successful,between then attracting more
than 14,000 visitors and receiving excellent feedback from visitors, performers and volunteers.
- Planning commenced on a new major outreach tour project funded via a significant grant received from Lichfield District Council.
- Our EmergingTalent programme,aimed at giving young local artistes opportunitiesto develop their skills, confidenceand performance
slots,continuedtobuild.ThisincludedfurtherengagementwithSouthStaffordshireCollegeandTheGarrickTheatre,performances at
the Fuse Festival,a workshopfor Friary School sixth formerson event production,a workshopon event productionfor a national project
byRicNicTheatreCompany,establishingapartnershipwithEntrustMusicServiceStaffordshireandtheYoungSoundsUK Furthering
Talentprogrammeand,aspartoftheirearlycareerworkexperience,securinguniversitystudentstoshadowourteamacross Fuse
Festival weekend.
Page 1
LICHFIELD ARTS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
ACHIEVEMENT AND PERFORMANCE
Other Developments
Anewevaluationframeworkwasintroducedtoensurefutureeventsandactivitiesarecompetitivewithotherartisticofferingsin the
city,are in line with the expectationsof a contemporaryaudience,providethe best experiencefor our visitors,present the organisation
in a favourable manner and make best use of our resources.
Awide-rangingreviewofcustomerexperiencewasundertakentoseekopportunitiesforimprovementsatallstagesofthe customer
journey at our events, from how customers find information about us and our events through to post-event engagement.
A major overhaul was undertaken of the Guildhall bar to improve its efficiency and enhance the customer experience at Guildhall events.
FINANCIAL REVIEW
Overview
Afterthefinancialchallengeswefacedthepreviousyear,2023/24wasmuchimprovedforLichfieldArtsfinancially.Wereturned a
surplus for the year of £5,183 and finished the year with cash balances including restricted funds of £32,149.
The Charity'smain sourcesof incomecontinueto be grants,donations,sponsorship,event ticketsales and event refreshmentsales. It is
particularlynoteworthythatouroverallincomewasnearly25%higherthanthepreviousfinancialyear,asisreflectedinthe large
increasein the number of concertsand otherevents we staged plus an expandedEmergingTalentprogramme.We wouldlike to thank
all our regular visitors, donors, grant providers and commercial sponsors for enabling us to continue to run our activities.
Reserves policy
ThetrusteesaimtomaintainunrestrictedreservessufficienttocoverthebasicrunningcostsofLichfieldArts,alongwithany other
foreseeableexpenses,forapproximately12months.Inthisway,thetrusteescanbecomfortablethatthecharitycanmeet its
commitments and cover any unexpected expenditure.
Available,unrestrictedreservesat the end of the year (excludingamountsalreadyowedto suppliers)were £32,870,whichis above this
target threshold.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1156217
Principal address
Donegal House
Bore Street
Lichfield
Staffordshire
WS13 6LU
Trustees
T Perks Trustee
P Beale Trustee
L Griffiths Trustee
P Harvey Trustee
S Horton Trustee
Page 2
LICHFIELD ARTS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Inspired Accountants Limited
Chartered Certified Accountants
4 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7FE
Approved by order of the board of trustees on 8 May 2025 and signed on its behalf by:
P Beale - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
LICHFIELD ARTS
Independent examiner's report to the trustees of Lichfield Arts
I report to the charity trustees on my examination of the accounts of Lichfield Arts (the Trust) for the year ended 31 August 2024.
Responsibilities and basis of report
As the charitytrusteesofthe Trustyouare responsibleforthe preparationofthe accountsin accordancewiththe requirementsof the
Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwiththe examination
giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I havenoconcernsandhavecomeacrossnoothermattersin connectionwiththeexaminationtowhichattentionshouldbe drawn in
this report in order to enable a proper understanding of the accounts to be reached.
Mr P Bulzacchelli
Inspired Accountants Limited
Chartered Certified Accountants
4 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7FE
8 May 2025
Page 4
LICHFIELD ARTS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
|
|
|
|
|
Period |
|
|
|
|
|
1.11.22 |
|
|
|
|
Year Ended |
to |
|
|
|
|
31.8.24 |
31.8.23 |
|
|
Unrestricted |
Restricted |
Total |
Total |
|
|
fund |
fund |
funds |
funds |
|
Notes |
£ |
£ |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
|
|
Donations and legacies |
|
37,166 |
2,544 |
39,710 |
29,701 |
Other trading activities |
2 |
170,798 |
- |
170,798 |
140,971 |
Total |
|
207,964 |
2,544 |
210,508 |
170,672 |
EXPENDITURE ON |
|
|
|
|
|
Raising funds |
|
202,781 |
2,544 |
205,325 |
196,306 |
NET INCOME/(EXPENDITURE) |
|
5,183 |
- |
5,183 |
(25,634) |
RECONCILIATION OF FUNDS |
|
|
|
|
|
Total funds brought forward |
|
27,687 |
- |
27,687 |
53,321 |
TOTAL FUNDS CARRIED FORWARD |
|
32,870 |
- |
32,870 |
27,687 |
The notes form part of these financial statements
Page 5
LICHFIELD ARTS
BALANCE SHEET 31 AUGUST 2024
Unrestricted
Restricted
fund
fund
Notes
£
£
FIXED ASSETS
Tangible assets
6
3,500
-
CURRENT ASSETS
Stocks
7
-
-
Debtors
8
7,437
-
Cash at bank and in hand
28,100
4,049
35,537
4,049
CREDITORS
Amounts falling due within one year
9
(6,167)
(4,049)
NET CURRENT ASSETS
29,370
-
TOTAL ASSETS LESS CURRENT LIABILITIES
32,870
-
NET ASSETS
32,870
-
FUNDS
10
Unrestricted funds
TOTAL FUNDS |
2024
Total
funds
£
3,500
-
7,437
32,149
39,586
(10,216)
29,370
32,870
32,870
32,870
32,870 |
2023
Total
funds
£
4,375
725
4,118
25,159 |
|
|
30,002
(6,690) |
|
|
23,312 |
|
|
27,687 |
|
|
27,687 |
|
|
27,687 |
|
|
27,687 |
The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issue on 8 May 2025 and were signed on its behalf
by:
P Beale - Trustee
The notes form part of these financial statements
Page 6
LICHFIELD ARTS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthe charity,whichis a publicbenefitentityunderFRS 102,havebeen preparedin accordance with
theCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthe historical
cost convention.
Income
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that
the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that
expenditure,it is probablethat a transferof economicbenefitswillbe requiredin settlementand the amountof the obligation
canbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadings that
aggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhave 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.
Fixtures and fittings- 33% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictionsarise 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
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity'spensionscheme are
charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 7
LICHFIELD ARTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
2. OTHER TRADING ACTIVITIES
Year Ended
31.8.24
£
Bar takings
61,533
FUSE income
19,265
Events tickets
88,796
Raffles and sundry fundraising
895
Equipment hire/storage income
200
Sundry income
109
170,798 |
Period
1.11.22
to
31.8.23
£
50,897
9,928
76,329
1,307
1,371
1,139 |
|
140,971 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2024norfortheperiod ended
31 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the period ended 31 August 2023.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
|
Period |
|
|
1.11.22 |
|
Year Ended |
to |
|
31.8.24 |
31.8.23 |
Office |
2 |
2 |
No employees received emoluments in excess of £60,000.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
29,701
-
Other trading activities
140,971
-
Total
170,672
-
EXPENDITURE ON
Raising funds
196,306
-
NET INCOME/(EXPENDITURE)
(25,634)
- |
Total
funds
£
29,701
140,971 |
|
170,672 |
|
196,306 |
|
(25,634) |
continued...
Page 8
LICHFIELD ARTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
5. |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|
|
|
|
|
Unrestricted |
Restricted |
Total |
|
|
fund |
fund |
funds |
|
|
£ |
£ |
£ |
|
RECONCILIATION OF FUNDS |
|
|
|
|
Total funds brought forward |
53,321 |
- |
53,321 |
|
TOTAL FUNDS CARRIED FORWARD |
27,687 |
- |
27,687 |
6. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
|
Fixtures |
|
|
|
|
and |
|
|
|
|
fittings |
|
|
|
|
£ |
|
COST |
|
|
|
|
At 1 September 2023 and 31 August 2024 |
|
|
6,079 |
|
DEPRECIATION |
|
|
|
|
At 1 September 2023 |
|
|
1,704 |
|
Charge for year |
|
|
875 |
|
At 31 August 2024 |
|
|
2,579 |
|
NET BOOK VALUE |
|
|
|
|
At 31 August 2024 |
|
|
3,500 |
|
At 31 August 2023 |
|
|
4,375 |
7. |
STOCKS |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Stocks |
|
- |
725 |
8. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other debtors |
|
- |
1,000 |
|
VAT |
|
1,410 |
494 |
|
Prepayments |
|
6,027 |
2,624 |
|
|
|
7,437 |
4,118 |
continued...
Page 9
LICHFIELD ARTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Taxation and social security
Other creditors
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
2024
2023
£
£
1,917
(666)
8,299
7,356
10,216
6,690
Net
movement
At
At 1.9.23
in funds
31.8.24
£
£
£
27,687
5,183
32,870
27,687
5,183
32,870
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
207,964
(202,781)
5,183
2,544
(2,544)
-
210,508
(205,325)
5,183
Net
At
movement
At
1.11.22
in funds
31.8.23
£
£
£
53,321
(25,634)
27,687
53,321
(25,634)
27,687 |
2023
£
(666)
7,356 |
|
|
6,690 |
|
|
|
|
|
27,687 |
10. MOVEMENT IN FUNDS
continued...
Page 10
LICHFIELD ARTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
170,672
(196,306)
(25,634)
170,672
(196,306)
(25,634) |
|
|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2024.
Page 11
LICHFIELD ARTS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
|
|
Period |
|
|
1.11.22 |
|
Year Ended |
to |
|
31.8.24 |
31.8.23 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Grants and donations |
39,450 |
29,545 |
Subscriptions |
260 |
156 |
|
39,710 |
29,701 |
Other trading activities |
|
|
Bar takings |
61,533 |
50,897 |
FUSE income |
19,265 |
9,928 |
Events tickets |
88,796 |
76,329 |
Raffles and sundry fundraising |
895 |
1,307 |
Equipment hire/storage income |
200 |
1,371 |
Sundry income |
109 |
1,139 |
|
170,798 |
140,971 |
Total incoming resources |
210,508 |
170,672 |
EXPENDITURE |
|
|
Raising donations and legacies |
|
|
Wages |
24,719 |
22,718 |
Social security |
1,337 |
1,138 |
Pensions |
837 |
733 |
Insurance |
1,554 |
1,514 |
Office rent and room hire |
3,734 |
3,605 |
Telephone |
865 |
740 |
Postage and stationery |
1,786 |
1,048 |
General administration costs |
886 |
1,652 |
Accountancy |
820 |
800 |
Bank charges |
1,104 |
1,326 |
Fixtures and fittings |
875 |
1,094 |
|
38,517 |
36,368 |
Other trading activities |
|
|
Bar purchases and costs |
12,900 |
2,803 |
FUSE expenditure |
62,322 |
59,478 |
Event costs |
69,109 |
79,308 |
Marketing |
12,182 |
8,833 |
Staging and other costs |
10,295 |
9,516 |
|
166,808 |
159,938 |
This page does not form part of the statutory financial statements
Page 12
LICHFIELD ARTS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2024
|
|
Period |
|
|
1.11.22 |
|
Year Ended |
to |
|
31.8.24 |
31.8.23 |
|
£ |
£ |
Total resources expended |
205,325 |
196,306 |
Net income/(expenditure) |
5,183 |
(25,634) |
This page does not form part of the statutory financial statements
Page 13