2024-04-05-accounts - Arts & Heritage Alliance Milton Keynes

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Charity Registration No: 1158874

ARTS & HERITAGE ALLIANCE MILTON KEYNES

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 05 APRIL 2024

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

CONTENTS FOR THE YEAR ENDED 05 APRIL 2024

	Page
Report of the Trustees	2-4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8-11

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 05 APRIL 2024

The Trustees present their annual report and financial statements for the year ended 05 April 2024.

Objectives and Activities

The charitable aims of the alliance are :

1) To promote arts and heritage for the benefit of the public in Milton Keynes in particular but not exclusively by supporting and representing the arts and heritage sector through promotion, representation and development.
2) To work in partnership with other like-minded organisations to achieve joint goals that further the charitable purpose.

Arts and Heritage Alliance Milton Keynes is an alliance of over 40 cultural sector members, working collaboratively to ensure culture is at the heart of the growing city of Milton Keynes. There is emphasis on the areas of Cutural Advocacy, Inclusion and Diversity together with a Schools alliance to promote the importance of creative skills for children and young people.

The Alliance promotes, supports and celebrates the diverity of Milton Keynes culture by engaging with events held by underrepresented communities. It acts as a bridge between the cultural sector and diverse communties to build social cohesion through culture.

The Charity Commission's guidance on public benefit is at the forefront of our work and the trustees have due regard to the guidance when exercising their powers and duties.

Achievements and Performance

The main source of funding this year came from Milton Keynes City Council for the Cultural Apprenticeship Scheme.Three Cutural Employers offered three Level 3 apprenticeships: Bletchley Park ( Events Assistant ) ; MK Gallery (Digital Marketer) & Milton Keynes Theatre ( Cultural Learning & Participation Officer ). The apprentices were recruited in November 2023 and are due to complete in the spring of 2025.

Funds were also received from MK Museum for a joint project to widen the engagement with ethnic minority groups.Introductory sessions have been held with African Diaspora Guests, Wolverton Pakistani community and Q;alliance. This programme is ongoing.

Support was given to Milton Keynes City Council, through member consultation and feedback papers, in relation to their refreshed strategic priorities for the MK Creative and Cultural Strategy.

The council have agreed to finance one day a week of director salary for the purpose of supporting the cultural sector CPD and collaborative action.

Financial Review and Reserves Policy

The net assets at 5th April 2024 were £46,922, however,the trustees are aware that £41,259 of this is represented by restricted funds, the expenditure of which is carefully monitored throughout the year. In the year to 5th April 2024, membership fees were insufficient to cover unfunded expenditure and there was a small loss of £1,060. Unrestricted funds of £6,723 were bought forward so the carried forward funds at 5th April 2024 are £5,663.

There is a reliance on funding from Milton Keynes City Council, but the trustees are confident this will continue for the forseeable future as there is strong collaboration with the Council on mutual projects and objectives.

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 05 APRIL 2024

Structure, Governance and Management

The Arts and Heritage Alliance Milton Keynes is a Charitable Incorporated Organisation registered with the Charity Commission under number 1158874. It is governed by a constitution dated July 2014, with an amendment February 2018 and January 2020.

Trustees are recruited through an open call, charity contacts and membership ; their appointment is confirmed at the Annual General Meeting. The maximum number of trustees is ten and the minimum is five. They meet regularly throughout the year.

Trustees

The following Trustees acted throughout the year

Anna Francesca Skelton Chair Emma Courtney Vice Chair Laura Margaret Keen Treasurer Hannah Olarewaju Robert Gifford Amanda Louise Farr Victoria Gibb Lakshmana Kastala Yvonne Owour

Trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to :

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 05 APRIL 2024

Trustees' responsibilities in relation to the financial statements

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees declare that they have approved the Trustees' Report above.

Signed on behalf of the Charity's Trustees Vice Chair | EmmaDocuSignedCourtneyby:

Date : 31st January 2025

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report to the trustees on my examination of the accounts of the above charity (" the Trust ") for the year ended 05 April 2024.

Responsibilities and basis of report

As the charity's trustees, 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 2011 Act and in carrying out my examination, I have followed all the 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 which gives me cause to believe that in, any material respect:

The accounting records were not kept in accordance with Section 130 of the Charities Act ; or
The accounts did not accord with the accounting records; or
The accounts did 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.

Signature: 1A’ Name: Denise Balch Qualification: A.C.A Address: 15 Towcester Road Old Stratford Milton Keynes MK19 6AN Date: 31st January 2025

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 05 APRIL 2024

Notes
Incoming resources
Grants received
3
Membership
Donations
Speaking fees
Other income
Total
Resources expended
Project Delivery
Staff costs
2
Office costs
Consultancy
Forum costs
Insurance
Training
Independent Examination
Total
Net income/(expenditure)
Reconciliation of Funds
Total funds brought forward
Total Funds carried forward at 05 April 2024
6

2024
2023
£
£
£
£
Unrestricted Restricted
Total
Total
-
46,720
46,720
39,996
3,850
-
3,850
4,125
-
-
-
125
-
-
-
300
-
-
-
389
-
3,850
46,720
50,570
44,935
-
21,916
21,916
62,527
980
13,296
14,276
40,195
1,230
1,000
2,230
2,658
804
1,950
2,754
6,620
434
-
434
436
750
-
750
588
52
-
52
20
660
-
660
-
4,910
38,162
43,072
113,044
(1,060)
8,558
7,498
(68,109)
6,723
32,701
39,424
107,533
5,663
41,259
46,922
39,424

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

BALANCE SHEET AS AT 05 APRIL 2024

Notes Current Assets Debtors 4 Cash at bank and in hand	2024 2023 £ £ 7,686 1,750 56,378 47,616
Creditors : amounts falling due within one year 5	64,064 49,366 17,142 9,942
Total Net Assets	46,922 39,424
Funds of the Charity 6 Restricted Unrestricted	41,259 32,701 5,663 6,723
Total Funds	46,922 39,424

Approved on behalf of all the trustees and authorised for issue on 31st January 2025

…………………………………………………..

Vice Chair ………………………………………………….. [raeC19826525B4F4DC...by:

Treasurer

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 05 APRIL 2024

1 ACCOUNTING POLICIES

Basis of Preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice : Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and with the Charities Act 2011.

There have been no changes to accounting estimates in the reporting period and no material prior year errors have been identified.

INCOMING RESOURCES

Recognition of incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

the charity becomes entitled to the resources;
it is more likely than not that the trustees will receive the resources;
the monetary value can be measured with sufficient reliability.

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP.

Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met.

Government grants

The charity has received government grants in the reporting period.

Contractual Income and performance related grants

This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.

EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount can be measured with reasonable certainty.

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the service or output.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

Debtors

Debtors are measured on initial recognition at settlement amount after any trade discounts. Subsequently, they are measured at the cash or other consideration expected to be received.

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 05 APRIL 2024

----- Start of picture text -----
|||| |---|---|---| |2|Staff Costs| |2024|2023| |£|£| |Salaries|13,860|39,027| |Pension costs ( defined contribution scheme )|416|1,168| |14,276|40,195|

----- End of picture text -----

The average number of employees during the year was as follows :

----- Start of picture text -----
||| |---|---| |2024|2023| |£|£| |2|2|

----- End of picture text -----

----- Start of picture text -----
|||| |---|---|---| |3|Government Grants| |Grants were received from Milton Keynes City Council ( MKCC ) for the following| |2024|2023| |£|£| |-| |Apprenticeship scheme|21,680| |-| |Operational Grant|7,500| |-| |Director Funding|2,290| |Overhead contribution|1,000|-| |-| |MAKE Funding|15,000| |32,470|15,000| |Further details regarding funds are shown in note 6| |4|Debtors| |2024|2023| |£|£| |Trade Debtors|6,934|950| |Prepayments|751|800| |7,685|1,750| |5|Creditors : amounts falling due within one year| |2024|2023| |£|£| |Trade creditors|11,974|3,612| |Accruals|4,515|3,900| |Taxation and social security|653|2,430| |17,142|6,330|

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 05 APRIL 2024

6 (a) Movement in funds during the current reporting period

Restricted Funds: MAKE projects Programme of change Apprenticeship scheme HLF MKCC Director/overhead support MKCC Organisation Grant Magic Little Grant	Balance Incoming Outgoing Balance Resources Resources 31/03/24 £ £ £ (2,446) 2,623 (1,632) - 21,680 (21,226) 26,454 13,750 (2,280) 11,470 3,290 (2,578) 712 7,500 (7,500) - 500 (500) - 01/04/23 £ 5,069 1,632 26,000
General Funds	46,720 (38,162) 41,259 3,850 (4,910) 5,663 32,701 6,723
Total Funds	50,570 (43,072) 46,922 39,424

6 (b) Movement in funds during the previous reporting period

Restricted Funds: MAKE projects Programme of Change Artswork Apprenticeship scheme General Funds Total Funds	Incoming Outgoing Balance Resources Resources 31/03/23 £ £ £ 15,000 35,188 5,069 10,000 57,544 1,632 14,996 14,996 26,000 39,996 107,728 32,701 4,939 5,316 6,723 44,935 113,044 39,424 100,433 7,100 25,257 49,176 26,000 107,533 Balance 01/04/22 £

6 (c) Restricted Funds

MAKE Projects

Make is the Milton Keynes Cultural Education Partnership, with it's vision to work together to nourish and support the creative skills and cultural wellbeing of Milton Keynes children and young people, being part of a national movement of Cultural Education Partnerships to deliver creative thinking at the heart of education.

Programme of Change

A two year project funded by Milton Keynes Community Foundation, to build cultural inclusion and diversify the cultural ecology of Milton Keynes, focusing on the importance of connectivity, building bridges and trusted relationships between the cultural sector and communities.

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ARTS & HERITAGE ALLIANCE MILTON KEYNES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 05 APRIL 2024

6 (c ) continued

Artswork

Funding from Artswork to develop a MAKE website as a central portal for the MK Cultural Education Partnership network. This included arts and heritage resources for teachers, cultural sector education offers, and a platform for connection and information between the cultural sector and education sector.

Apprenticeship Scheme

Funds from MKCC as part of our inclusion and diversity stategy.

Following applications for on-the-job training for an apprentice, it was decided to support the following three cultural organisations ; Bletchley Park, MK Gallery and Milton Keynes Theatre.

HLF

Funding from MK Musuem for projects involving inclusion and engagement with underrepresented communities.

Organisation grant

Funds from MKCC for traing and promoting in the following three areas ; Inclusion and Diversity

Cultural and Creative Education Cultural Advocacy

14 Transactions with trustees and related parties

14 (a) Trustee remuneration and benefits

None of the trustees have been paid any remuneration or expenses, or received any other benefits from the charity or a related entity.

14 (b) Transactions with related parties

There have been no related party transactions in the current and prior year reporting periods.