DocuSign Envelope ID: 4AF2A3F2-0B58-4B4C-9605-AFDD0784878A
REGISTERED CHARITY NUMBER: 1158370
THE DIDSBURY ARTS FESTIVAL CIO
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
DocuSign Envelope ID: 4AF2A3F2-0B58-4B4C-9605-AFDD0784878A
THE DIDSBURY ARTS FESTIVAL CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
DocuSign Envelope ID: 4AF2A3F2-0B58-4B4C-9605-AFDD0784878A
THE DIDSBURY ARTS FESTIVAL CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022
The trustees present their report with the financial statements of the charity for the year ended 31 October 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 objects of the organisation are to promote, improve and advance the arts in Didsbury and the education and encouragement of the arts, primarily but not exclusively, by means of a Community Arts Festival, including without any limitation, the arts of drama, mime, dance, singing, creative writing, poetry, sculpture and music without distinction.
The organisation shall be non-party in politics and non-sectarian in religion.
Significant activities
The most significant event during the year is the planning and delivery of the Arts Festival.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The organisation delivered events in the community and for the community during the year that were inclusive and accessible to all.
Fundraising activities
Funds were raised via membership fees, donations and sponsorship.
FINANCIAL REVIEW
Principal funding sources
Funds will continue to be generated via the same routes but a formal fundraising committee will be established to generate new ideas.
Reserves policy
The Board were fully aware that the key to future stability and sustainability of the Festival is to build the reserves.
FUTURE PLANS
It is hoped that the organisation will continue to develop its structure and framework in the coming year in order to secure its continuity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The organisation continues to enlist and retain a balanced set of trustees with an appropriate skill set.
Induction and training of new trustees
New trustees are encouraged to spend time with the chair and other members of the committee in order to become fully conversant in the aims, objectives and operations of the organisation.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1158370
Principal address
12 Westmorland Road Didsbury Manchester Greater Manchester M20 2TA
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THE DIDSBURY ARTS FESTIVAL CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022
Trustees
A Webb (resigned 31.12.22) M Stripling P Early D Grace K Jacobson J Taylor R Shawe (appointed 6.11.21) L Gower (appointed 6.11.21) N Mackenzie (appointed 9.11.21) C McAlinden (appointed 9.11.21) S S Mokhtassi (appointed 21.11.22)
Independent Examiner
Murray Smith LLP Chartered Accountants Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU 31-05-2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ S S Mokhtassi - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DIDSBURY ARTS FESTIVAL CIO
Independent examiner's report to the trustees of The Didsbury Arts Festival CIO
I report to the charity trustees on my examination of the accounts of The Didsbury Arts Festival CIO (the Trust) for the year ended 31 October 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out 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
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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 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.
Michael Benson
Murray Smith LLP Chartered Accountants Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU 01-06-2023 Date: .............................................
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THE DIDSBURY ARTS FESTIVAL CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,187 Other trading activities 2 12,578 Total 13,765 EXPENDITURE ON Charitable activities Charitable events 8,062 NET INCOME/(EXPENDITURE) 5,703 RECONCILIATION OF FUNDS Total funds brought forward 10,320 TOTAL FUNDS CARRIED FORWARD 16,023 |
2021 Total funds £ 2,200 - 2,200 7,822 (5,622) 15,942 10,320 |
|---|---|
The notes form part of these financial statements
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THE DIDSBURY ARTS FESTIVAL CIO
BALANCE SHEET 31 OCTOBER 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 - CURRENT ASSETS Prepayments and accrued income 2,600 Cash at bank 13,423 16,023 NET CURRENT ASSETS 16,023 TOTAL ASSETS LESS CURRENT LIABILITIES 16,023 NET ASSETS 16,023 FUNDS 6 Unrestricted funds 16,023 TOTAL FUNDS 16,023 |
2021 Total funds £ 1,000 2,600 6,720 |
|---|---|
| 9,320 | |
| 9,320 | |
| 10,320 | |
| 10,320 | |
| 10,320 | |
| 10,320 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 31-05-2023
............................................. S S Mokhtassi - Trustee
The notes form part of these financial statements
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THE DIDSBURY ARTS FESTIVAL CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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.
Fixtures and fittings - 25% on cost
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.
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.
2. OTHER TRADING ACTIVITIES
| Arts Council funding Other income ABA |
2022 £ 10,000 78 2,500 12,578 |
2021 £ - - - |
|---|---|---|
| - |
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continued...
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THE DIDSBURY ARTS FESTIVAL CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2022 nor for the year ended 31 October 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 2,200 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Charitable events | ||
| 7,822 | ||
| NET INCOME/(EXPENDITURE) | (5,622) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 15,942 | |
| TOTAL FUNDS CARRIED FORWARD | 10,320 | |
| 5. | TANGIBLE FIXED ASSETS | |
| Fixtures | ||
| and | ||
| fittings | ||
| £ | ||
| COST | ||
| At 1 November 2021 | 1,000 | |
| Disposals | (1,000) | |
| At 31 October 2022 | - | |
| NET BOOK VALUE | ||
| At 31 October 2022 | - | |
| At 31 October 2021 | 1,000 |
continued...
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THE DIDSBURY ARTS FESTIVAL CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022
6. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| At | movement | At | |
| 1.11.21 | in funds | 31.10.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 10,320 | 5,703 | 16,023 |
| TOTAL FUNDS | 10,320 | 5,703 | 16,023 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 13,765 | (8,062) | 5,703 |
| TOTAL FUNDS | 13,765 | (8,062) | 5,703 |
| Comparatives for movement in funds | |||
| Net | |||
| At | movement | At | |
| 1.11.20 | in funds | 31.10.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 15,942 | (5,622) | 10,320 |
| TOTAL FUNDS | 15,942 | (5,622) | 10,320 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,200 | (7,822) | (5,622) |
| TOTAL FUNDS | 2,200 | (7,822) | (5,622) |
continued...
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THE DIDSBURY ARTS FESTIVAL CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net At movement At 1.11.20 in funds 31.10.22 £ £ £ 15,942 81 16,023 15,942 81 16,023 |
Net At movement At 1.11.20 in funds 31.10.22 £ £ £ 15,942 81 16,023 15,942 81 16,023 |
|---|---|---|
| 16,023 |
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 | 15,965 | (15,884) | 81 |
| TOTAL FUNDS | 15,965 | (15,884) | 81 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2022.
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THE DIDSBURY ARTS FESTIVAL CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022 |
||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 1,187 | 2,200 |
| Other trading activities | ||
| Arts Council funding | 10,000 | - |
| Other income | 78 | - |
| ABA | 2,500 | - |
| 12,578 | - | |
| Total incoming resources | 13,765 | 2,200 |
| EXPENDITURE | ||
| Charitable activities | ||
| Salaries | 5,592 | 6,637 |
| Artists fees | - | 1,200 |
| Marketing, advertising and printing | 244 | 630 |
| Web/IT | 494 | - |
| Insurance | 560 | 560 |
| Other | 172 | (1,205) |
| Donations | 1,000 | - |
| 8,062 | 7,822 | |
| Total resources expended | 8,062 | 7,822 |
| Net income/(expenditure) | 5,703 | (5,622) |
This page does not form part of the statutory financial statements
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