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2024-04-05-accounts

Creative Culture Trust (CCT) Trustees’ Report For the Year Ended 2024

Formalities

The Trustees of the Charity present their report and the audited financial statements for the year ended 2024. The Trustees confirm that the annual report and financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011 and the requirements 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

2024 saw an increase in studio income compared to the previous year. Expenditure increased, fin relation to our activity costs for our community activity.

Creative Culture Trust CIO is a Charitable Incorporated Organisation . The volunteer Board of Trustees is responsible for the overall governance and direction of the charity. During the year the Board comprised 5 Trustees. With no additions . The Board met six times during the year, and conducted conference calls in between physical meetings.

The following served as Trustees during the period 2023 to 2024.

MARCUS DAVID BENSON CHEUK LAP LAU ALEXANDER JAMES LANGDON BREEZE CHLOE ROSE FOWLER DYLAN LINDSAY

CCT’s volunteer Board of Trustees continue to apply the Charity Governance Code. There are no Trustees’ interests to be disclosed. The Trustees have reviewed the major risks facing the Charity on a regular basis, to ensure sufficient resources are available to meet our obligations in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to manage significant risks.

Achievements

As we head towards our 10th year in 2025 we have taken the opportunity to reflect on the changes and developments made since we were founded in 2015. Although a huge amount has been achieved, including securing the Athenaeum in Sunderland and its subsequent refurbishment. The forced closure of Bamburgh House during Covid and an immediate need to re-house all its creative practices in the John Marley Centre, Newcastle whilst maintaining our services and growing local talent there is still so much more needed if we are to meet our aims of ‘increasing 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’. This year however, saw the enormous strides we are making towards that, with full capacity of creative workspace in both our sites, 100% engagement from the local community in our young persons activity programs, the introduction of new recreational events at the John Marley Centre, increase footfall at all exhibitions, creative markets and Art festivals and the re-development of our Educational Strategy, which at the outset of our plans the bold ambition to introduce a Foundation Arts Degree. This initially had some set backs due to statutory requirements and red tape, however we are delighted to have now overcome these barriers and inform you we are making positive strives for the course to be launched in our 10[th] Year in September 2025 with the enrolment of 12 Students.

As we move into our 10[th] year we are mindful of the environment we’re in and the need to carefully prioritise our work in order to have the maximum positive impact for Creatives. The economic and political climate will continue to be uncertain and we will need to be prudent to ensure that CCT is sustainable for the longer term. We are incredibly grateful to our many wonderful supporters, partners and volunteers who enable our work for the local Arts Community to continually grow, and

our fantastic and dedicated staff team, without whom the charity simply would not exist. Whilst so much has been achieved over the last year – and indeed the 8 before that – we are fully aware of our responsibility and we will continue to work hard to deliver lasting changes for those who need our help. There is much work to be done to achieve our mission but with 9 years of learning behind us we’re as dedicated as ever to that goal.

We would like to extend our thanks to the following organisations who have supported our work this year:

National Lottery Community Fund

Reece Foundation

Sunderland City Council

Signed Chair:

// Alexander Breeze

CREATIVE CULTURE TRUST CIO

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

5 APRIL 2024

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 2024

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 2024

The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 5 April 2024

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 M D Benson C Lap Lau A J Breeze

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 2024, 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 2024

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
£
37,766
0
615
4,000
42,381
46,223
(3,843)
33,394
29,551
Restricted
Funds
£
0
0
0
0
0
0
0
0
0
Total
2024
£
37,766
0
615
4,000
42,381
46,223
(3,843)
33,394
29,551
Total
2023
35,291
0
75
16,956
52,322
35,827
16,496
16,898
33,394

These notes form part of the financial statements

CREATIVE CULTURE TRUST CIO
BALANCE SHEET AS AT
5 APRIL 2024
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
29,583
38,383
600
600
30,183
38,983
632
5,589
29,551
33,394
29,551
33,394
29,551
33,394
29,551
33,394
2024
2023
£
£
30,183
632

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 2024

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
£
46,223
46,223
Restricted
Funds
£
0
0
2024
£
615
Total
2024
£
46,223
46,223
2023
£
75
Total
2023
£
35,827
35,827

CREATIVE CULTURE TRUST CIO

Page 6

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

4 TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.

5 CREDITORS : AMOUNTS FALLING DUE
WITHIN ONE YEAR
Other Creditors
2024
£
632
632
2023
£
5,589
5,589

Page 7

CREATIVE CULTURE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

6 MOVEMENT IN FUNDS

Balance at
Net Movement
6 April
in funds
2023
£
£
General Funds
Unrestricted Funds
33,394
(3,843)
Total Funds
33,394
(3,843)
Net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
expended
£
£
General Funds
Unrestricted Funds
42,381
(46,223)
Total Funds
42,381
(46,223)
Comparatives for 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
Comparative 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)
Balance at
5 April
2024
£
29,551
29,551
Movement in
funds
£
(3,843)
(3,843)
Balance at
5 April
2023
£
33,394
33,394
Movement in
funds
£
16,496
16,496

CREATIVE CULTURE TRUST CIO

Page 8

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024

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)
£
£
£
£
37,766
35,291
0
0
615
75
4,000
16,956
42,381
52,322
720
719
22,474
22,557
353
0
1,631
3,600
151
3,547
4
15
8
15
675
780
0
0
18,927
729
60
0
60
61
0
100
1,160
3,704
46,223
35,827
(3,843)
16,496
2024
2023
£
£
£
£
37,766
35,291
0
0
615
75
4,000
16,956
42,381
52,322
720
719
22,474
22,557
353
0
1,631
3,600
151
3,547
4
15
8
15
675
780
0
0
18,927
729
60
0
60
61
0
100
1,160
3,704
46,223
35,827
(3,843)
16,496
2024
2023
720
22,474
353
1,631
151
4
8
675
0
18,927
60
60
0
1,160
16,496

CREATIVE CULTURE TRUST CIO

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

5 APRIL 2024

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 2024

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 2024

The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 5 April 2024

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 M D Benson C Lap Lau A J Breeze

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 2024, 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 2024

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
£
37,766
0
615
4,000
42,381
46,223
(3,843)
33,394
29,551
Restricted
Funds
£
0
0
0
0
0
0
0
0
0
Total
2024
£
37,766
0
615
4,000
42,381
46,223
(3,843)
33,394
29,551
Total
2023
35,291
0
75
16,956
52,322
35,827
16,496
16,898
33,394

These notes form part of the financial statements

CREATIVE CULTURE TRUST CIO
BALANCE SHEET AS AT
5 APRIL 2024
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
29,583
38,383
600
600
30,183
38,983
632
5,589
29,551
33,394
29,551
33,394
29,551
33,394
29,551
33,394
2024
2023
£
£
30,183
632

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 2024

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
£
46,223
46,223
Restricted
Funds
£
0
0
2024
£
615
Total
2024
£
46,223
46,223
2023
£
75
Total
2023
£
35,827
35,827

CREATIVE CULTURE TRUST CIO

Page 6

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

4 TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.

5 CREDITORS : AMOUNTS FALLING DUE
WITHIN ONE YEAR
Other Creditors
2024
£
632
632
2023
£
5,589
5,589

Page 7

CREATIVE CULTURE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

6 MOVEMENT IN FUNDS

Balance at
Net Movement
6 April
in funds
2023
£
£
General Funds
Unrestricted Funds
33,394
(3,843)
Total Funds
33,394
(3,843)
Net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
expended
£
£
General Funds
Unrestricted Funds
42,381
(46,223)
Total Funds
42,381
(46,223)
Comparatives for 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
Comparative 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)
Balance at
5 April
2024
£
29,551
29,551
Movement in
funds
£
(3,843)
(3,843)
Balance at
5 April
2023
£
33,394
33,394
Movement in
funds
£
16,496
16,496

CREATIVE CULTURE TRUST CIO

Page 8

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024

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)
£
£
£
£
37,766
35,291
0
0
615
75
4,000
16,956
42,381
52,322
720
719
22,474
22,557
353
0
1,631
3,600
151
3,547
4
15
8
15
675
780
0
0
18,927
729
60
0
60
61
0
100
1,160
3,704
46,223
35,827
(3,843)
16,496
2024
2023
£
£
£
£
37,766
35,291
0
0
615
75
4,000
16,956
42,381
52,322
720
719
22,474
22,557
353
0
1,631
3,600
151
3,547
4
15
8
15
675
780
0
0
18,927
729
60
0
60
61
0
100
1,160
3,704
46,223
35,827
(3,843)
16,496
2024
2023
720
22,474
353
1,631
151
4
8
675
0
18,927
60
60
0
1,160
16,496