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2023-04-05-accounts

CREATIVE CULTURE TRUST CIO

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

5 APRIL 2023

REGISTERED NUMBER - 1161184

29 Howard Street North Shields Tyne and Wear NE30 1AR

Tel : 0191 259 2743 Fax : 0191 257 2249 E-mail : info@essell.co.uk Ref: ACR/2998

CREATIVE CULTURE TRUST CIO

FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

CONTENTS

Report of the Trustees Page 1
Independent Examiner's Report Page 2
Statement of Financial Activities Page 3
Balance Sheet Page 4
Notes to the Financial Statements Page 5 - 7
Detailed Statement of Financial Activities Page 8

29 Howard Street North Shields NE30 1AR Tel: 0191 259 2743 : Fax 0191 257 2249 E-mail: info@essell.co.uk Ref: ACR/2998

CREATIVE CULTURE TRUST CIO

Page 1

Report of the Trustees for the Year Ended 5 April 2023

The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 5 April 2023

The trustees have adopted the provisions of the Statement of Recommended Practice - Accounting and Reporting by Charities issued in March 2005

Registered Charity number

1161184

Principal address

The Athenaeum 27 Fawcett Street Sunderland SR1 1RE

Trustees

C Fowler D P Lindsay Z Breeze Resigned 21 December 2022 M D Benson Appointed 06 March 2023 C Lap Lau Appointed 06 March 2023 A J Breeze Appointed 21 December 2022

Structure, Governance & Management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

OBJECTIVES AND ACTIVITIES

Objectives and aims

Creative Culture Trust CIO promotes access to culture, creative workspace, engagement and participation in arts through educational and recreational activities which develop the skills and confidence of individuals providing a platform for them to grow artistically.

ON BEHALF OF THE BOARD :

Trustee …………………………………………..

A J Breeze Date :

Page 2

INDEPENDENT EXAMINER'S REPORT

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CREATIVE CULTURE TRUST CIO

I report on the accounts of Creative Culture Trust CIO for the year ended 5th April 2023, which are set out on pages 3 to 8.

This report is made solely to the trustees, as a body, in accordance with the regulations made under Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees, as a body, for my work, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible or independent examination it is my responsibility to:

Examine the accounts and to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would by required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

1.) which gives me reasonable cause to believe that in any material respect, the requirements;

have not been met; or

2.) to which, in my opinion, attention should be drawn in order to enable a proper understand of the accounts to be reached.

Alex C. Robinson FCCA ESSELL ACCOUNTANTS, North Shields

Date:

CREATIVE CULTURE TRUST CIO

Page 3

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023

Income and Endowments
Incoming Resources from
Generated Funds:
Voluntary Income
Donations
Investment Income
Government Grant Income
Total Incoming resources
Resources Expended
Costs of generating voluntary income
Net Income / (Expenditure) resources
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Notes
2
3		 Unrestricted
Funds
£
35,291
0
75
16,956
52,322
35,827
16,496
16,898
33,394		 Restricted
Funds
£
0
0
0
0
0
0
0
0
0		 Total
2023
£
35,291
0
75
16,956
52,322
35,827
16,496
16,898
33,394		 Total
2022
17,986
0
2
21,925
39,912
42,471
(2,558)
19,456
16,898

These notes form part of the financial statements

CREATIVE CULTURE TRUST CIO
BALANCE SHEET AS AT
5 APRIL 2023
CURRENT ASSETS
Cash at Bank and in Hand
Debtors
CREDITORS : AMOUNTS FALLING DUE
WITHIN ONE YEAR(Note 5)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted Funds (Note 10)		 Page 4
38,383
23,568
600
600
38,983
24,168
5,589
7,270
33,394
16,898
33,394
16,898
33,394
16,898
33,394
16,898
2023
2022
£
£
38,983
5,589

These financial statements were approved by the Trustees on _______ and were signed on its behalf by :

A J Breeze

Charity registered number : 1161184

CREATIVE CULTURE TRUST CIO

Page 5

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

1. ACCOUNTING POLICIES

Accounting Convention

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015) and the Charities Act 2011. The principal accounting policies adopted in the preparation of the financial statements are as follows:

Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

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.

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 INVESTMENT INCOME
Deposit Account Interest
3 EXPENDITURE ON RAISING FUNDS
Support Costs		 Unrestricted
Funds
£
35,827
35,827		 Restricted
Funds
£
0
0		 2023
£
75
Total
2023
£
35,827
35,827		 2022
£
2
Total
2022
£
42,471
42,471

CREATIVE CULTURE TRUST CIO

Page 6

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

4 TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.

5 CREDITORS : AMOUNTS FALLING DUE
WITHIN ONE YEAR
Other Creditors		 2023
£
5,589
5,589		 2022
£
7,270
7,270

Page 7

CREATIVE CULTURE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

6 MOVEMENT IN FUNDS

Balance at
Net Movement
6 April
in funds
2022
£
£
General Funds
Unrestricted Funds
16,898
16,496
Total Funds
16,898
16,496
Net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
expended
£
£
General Funds
Unrestricted Funds
52,322
(35,827)
Total Funds
52,322
(35,827)
Comparatives for movement in funds
Balance at
Net Movement
6 April
in funds
2021
£
£
General Funds
Unrestricted Funds
19,456
(2,558)
Total Funds
19,456
(2,558)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
expended
£
£
General Funds
Unrestricted Funds
39,912
(42,471)
Total Funds
39,912
(42,471)		 Balance at
5 April
2023
£
33,394
33,394
Movement in
funds
£
16,496
16,496
Balance at
5 April
2022
£
16,898
16,898
Movement in
funds
£
(2,558)
(2,558)

CREATIVE CULTURE TRUST CIO

Page 8

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023

INCOMING RESOURCES
Voluntary income
Studio Rentals
Donations
Investment income
Deposit account interest
Grant Income
Grants Received
Total incoming resources
RESOURCES EXPENDED
Management
Insurance
Rent and Management Costs
Advertising
Light and Heat
Rates and Water
Postage and stationery
Travel
Accountancy
Professional Fees
Activity Costs
Entertainment
Bank Charges
Sundries
Repairs and Maintenance
Total resources expended
Net Surplus / (Deficit)		 £
£
£
£
35,291
17,986
0
0
75
2
16,956
21,925
52,322
39,912
719
553
22,557
19,786
0
0
3,600
1,122
3,547
107
15
0
15
0
780
0
0
11,391
729
3,980
0
50
61
20
100
767
3,704
4,693
35,827
42,471
16,496
(2,558)
2023
2022		 £
£
£
£
35,291
17,986
0
0
75
2
16,956
21,925
52,322
39,912
719
553
22,557
19,786
0
0
3,600
1,122
3,547
107
15
0
15
0
780
0
0
11,391
729
3,980
0
50
61
20
100
767
3,704
4,693
35,827
42,471
16,496
(2,558)
2023
2022
719
22,557
0
3,600
3,547
15
15
780
0
729
0
61
100
3,704
(2,558)