## **Sydenham Arts Limited**
## **Directors’ Report and Financial Statements**
## **For the year ended 31 March 2022**
## **Company information**
**DIRECTORS** Jan Stockwell Katie Cross Damien McGlynn Barbara Morse Jemilla Olufeko Ioanna Papageorgiou Isabelle Robillard Rachel Scott Isabel White
**REGISTERED OFFICE** The Sydenham Centre 44a Sydenham Road Sydenham London SE26 5QX **REGISTERED NUMBER** 06835122 (England and Wales) **REGISTERED CHARITY** 1161590 (England and Wales) **BANKERS** Barclays Bank PLC 3 Beckenham Road Beckenham Kent BR3 4ES
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## **Sydenham Arts Limited**
## **Year ended 31 March 2022**
|**Year ended 31 March 2022 **||
|---|---|
|**Index**|Pages|
|Report of the Directors|2-4|
|Independent examiner’s report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8-9|
## **Report of the Directors**
The Directors present their report with the financial statements of the company for the year ended 31 March 2022.
## PRINCIPAL ACTIVITY
The objects of the company as set out in its Memorandum of Association are to provide, promote, and advance the arts for the benefit of the public, in particular people who live, work and are educated in Sydenham and the surrounding areas.
## DIRECTORS
The Directors during the year and at the date of this report are as follows: Jan Stockwell (chair) Katie Cross (appointed 26 July 2021) Damien McGlynn Barbara Morse Jemilla Olufeko Ioanna Papageorgiou Isabelle Robillard Rachel Scott Isabel White
The following Directors also served during the year: John Clark (resigned 11 May 2022) George Lee (resigned 6 June 2022) David Smurthwaite (resigned 6 June 2022)
New Directors are selected by consensus among the existing Directors with regard to the range of skills, experience and backgrounds that they can add to the Board.
## CHARITY GOVERNANCE CODE
The Directors have considered the Charity Governance Code for smaller charities issued 13 July 2017 and confirm that they have complied with the seven elements insofar as they are applicable to Sydenham Arts.
The company is led by an effective Board that is clear about the company’s aims and provides leadership to ensure they are being delivered. The Board acts with integrity and leads the company in being transparent and open. The Board works as an effective team with an appropriate balance of skills and experience to ensure its decisions are informed and timely, with delegation, control and risk assessment set up and monitored. The company seeks diversity in the composition of its Board, and in its performers and audiences.
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## **Sydenham Arts Limited**
## **Year ended 31 March 2022**
## **Report of the Directors (continued)**
## REVIEW OF BUSINESS
The Directors have met at regular intervals during the period in order to conduct the business of the company.
Sydenham Arts Festival was incorporated on 3 March 2009 and produced a summer festival every year from 2009 to 2018. On 16 October 2014 the company shortened its name from “Sydenham Arts Festival Limited” and on 24 November 2014 became a registered charity, adopting new Articles. In 2019, Sydenham Arts moved to year-round programming reflecting and addressing a wider range of community interests through the arts, as well as bringing Sydenham Film Club under our umbrella to deliver monthly films.
The previous accounts reported the change of year end from October to March, so that the comparatives in these accounts are for 17 months, the majority of which were affected by Covid lockdowns.
In the year under review Sydenham Arts continued with a broad range of programming and activity. The future development of the company was enhanced by a grant from Garfield Weston for £20,000 over the two years starting 1 July 2021, which also helped the charity leverage further support for its programmes throughout the year and into 2022-23. A broader focus on supporting young people incorporated mentoring approaches and events, “START”, has been a key aspect of development. The programme, “to.gather”, was held in the autumn, further funded by a grant from British Council Hong Kong, supported 8 young mentees delivering 6 crosscontinental performances. The Artists Trail moved from July to September and continues to improve in the range and quality of the exhibits. Towards the end of the year the monthly films resumed, and the experience gained during the pandemic has expanded the potential for online events. We resumed music events and concerts supporting local performers, using the remaining balance of the Lucille Graham grant, and our Moving with Parkinson’s programme with the support of the remainder of the grants from The Little Charity and Lewisham’s Small and Faith Fund. Broader public facing events including “Waking the Sydenham Dragon” promoted community responses to climate change, as part of Lewisham London Borough of Culture 2022.
The company also gratefully acknowledges the continuing support it receives from its commercial sponsors, Property World, and from its monthly donors.
Directors’ meetings are being held mostly online, between four and six a year.
Recording attendance and participation during the year, we have taken into account those registrants and physical attendees of events, which were largely restricted due to coronavirus, plus those who viewed live and recorded video online. An estimated 3,100 (2021-1,150) attended/registered for physical events. Over 11,000 (2021- over 15,000) viewed or interacted with our activity through online platforms.
The Directors consider that with the limitations imposed by lockdowns, the range of events met the objects of the company as being for the general public benefit, with regard to the Charity Commission’s guidance thereon.
The attached financial statements show total income £40,416 (2021: £56,845 for 17 months, annualised to be £40,126) for the year ended 31 March 2022.
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## **Sydenham Arts Limited**
## **Year ended 31 March 2022**
## **Report of the Directors (continued)**
## REVIEW OF BUSINESS (continued)
Fundraising continues to be directed towards both covering core costs that provide a stable platform for building an enriched arts programme in line with the objective of holding events throughout the year, and funding for a variety of programmes.
Donations in kind came from local residents who gave their professional expertise in design, marketing and promotion, accountancy and health and safety. There was also a brigade of local residents who volunteered to assist at events in a variety of capacities.
The future programme is continually under review, maintaining consistently high standards for the quality, diversity and appreciation of events.
£14,434 (2021: £15,543) is carried forward which can be applied to any activity within our charitable objectives.
## COMMUNICATION WITH SUPPORTERS
During the year the company spent £5,286 on the redesign of its website, supported by a donation of £2,500 and a grant of £350. This has improved communication with the local community, although the company recognises that there is scope for further development, with further enhancements after the end of the year.
## RISK
As well as undertaking a risk assessment before each physical event, the Board continues to review and update the company’s policies and procedures to ensure that they remain fit for the purpose of identifying and reducing the company’s exposure to operating, financial and other risks.
## CONSTITUTION
Sydenham Arts Limited is a company limited by guarantee and has no shareholders. It is registered in England and Wales, company number 06835122. The governing document of the company is its Memorandum and Articles of Association. The company is also a registered charity in England and Wales, number 1161590.
## Jan Stockwell
## Chair
24 October 2022
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## **Sydenham Arts Limited**
## **Year ended 31 March 2022**
## **Independent examiner’s report to the Trustees/Directors of Sydenham Arts Limited, a charitable company number 1161590**
I report on the accounts of the company for the year to 31 March 2022, which are set out on pages 6 to 9.
## **Respective responsibilities of Trustees and examiner**
The Trustees (who are also the 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 period 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 audit under company law and is eligible for independent examination, it is my responsibility:
- To examine the accounts under section 145 of the 2011 Act;
- 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 report**
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 seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be 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 the matters set out in the next statement.
## **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:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met: or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
M Brooks FCA 12 Princethorpe Road London SE26 4PF 24 October 2022
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## **Sydenham Arts Limited**
## **Statement of Financial Activities For the year ended 31 March 2022**
|**2022**
**2022**
**Restricted**
**Unrestricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Income from**
Grants
10,180
7,850
Donations
-
12,083
________
________
Total grants and donations
10,180
19,933
Charitable activities
10,303
-
________
________
**Total income**
20,483
19,933
Direct cost of charitable activities
15,735
-
**________**
**________**
4,748
19,933
Administrative expenses
4,748
21,042
________
________
**Net (deficit)/excess of income over expenses**
2
-
(1,109)
________
_______
Tax
4
**Net (deficit) / excess of income over expenses**
**after tax**
**7**|**1 Nov 2019 to**
**2022 31 Mar 2021**
**Total**
**Total**
**£**
**£**
18,030
23,893
12,083
20,013
________
________
30,113
44,006
10,303
12,839
________
________
40,416
56,845
15,735
22,922
**________**
_**__**_____
24,681
33,923
25,790
23,771
________
________
**(**1,109)
10,152
**-**
-
**________**
________
(1,109)
10,152
________
________|
|---|---|
All amounts above are derived from continuing activities.
The notes on pages 8 and 9 form part of these financial statements.
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## **Sydenham Arts Limited**
## **Balance Sheet**
## **31 March 2022**
|Notes
**CURRENT ASSETS**
Debtors
5
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
6
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**THE FUNDS OF THE CHARITY**
Unrestricted funds
7|**2022**
**£**
283
26,430
**________**
26,713
12,279
________
14,434
________
14,434
________|**2021**
**£**
250
23,288
_**__**_____
23,538
7,995
________
15,543
________
15,543
________|
|---|---|---|
For the year ended 31 March 2022, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to smaller companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved by the Board of Directors on 24 October 2022 and were signed on its behalf by
Jan Stockwell Chair
The notes on pages 8 and 9 form part of these financial statements.
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**Sydenham Arts Limited**
**Notes to the Financial Statements For the year ended 31 March 2022**
## **1. ACCOUNTING POLICIES**
## **Accounting Convention**
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP FRS 102), applicable accounting standards and company law.
## **Going Concern**
The accounts have been prepared on a going concern basis on the premise that grants continue to be awarded to allow it to carry out its objectives.
## **Public Benefit**
The company is a public benefit entity to promote, maintain and advance education, by the encouragement of the arts and to develop new and existing opportunities for local residents and visitors to the area in order that they may experience the arts through active and passive participation
## **Turnover**
Turnover represents grant funding received, together with localised sponsorship and donations. Other income is also received from box office and ticket sales generated from various events. Further income is generated from the sale of publicity and marketing space within flyers and brochures.
Grant funding received can be in the form of general funding and restricted funding. Any restricted funding which has not been spent at the year-end will be recorded in the balance sheet and carried forward to later periods.
Donations are treated as income at the time of receipt, unless they are specifically to cover a future expense.
## **Reserves**
The Directors consider it prudent that unrestricted reserves are kept at a level sufficient to cover core costs for six months.
## **2. OPERATING PROFIT**
The operating profit is stated after charging:
|Directors’ remuneration and benefits|**2022**
**£**
-
________|**2021**
**£**
-
________|
|---|---|---|
## **3. STAFF COSTS AND NUMBERS**
All staff are engaged on short term contracts covering specific events or, for core staff, periods of not longer than one year. The total paid was £20,724 (2021: £29,994) which included 2 core staff (2021: 2).
## **4. TAXATION**
The company is a registered charity. None of its sources of income is taxable.
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## **Sydenham Arts Limited**
## **Notes to the Financial Statements (continued) For the year ended 31 March 2022**
## **5. DEBTORS**
|**5. DEBTORS**||||||
|---|---|---|---|---|---|
||||**2022**|**2021**||
||||**£**|**£**||
|Prepayments and accrued income|||283|250||
|||________||________||
|**6. CREDITORS : AMOUNTS FALLING DUE WITHIN ONE**||**YEAR**||||
||||**2022**|**2021**||
||||**£**|**£**||
|Grants received for future activities|||8,960|4,550||
|Income received in advance|||1,800|2,000||
|Accrued expenses|||1,519|1,445||
|||________||________||
||||12,279|7,995||
|||________||________||
|Grants received for future activities include restricted income grant||funding not spent||at the balance|sheet date|
|£8,960 (2021: £4,550).||||||
|**7. FUNDS OF THE CHARITY**||||||
||**1 Apr 21**|**Income**||**Expenses**|**31 Mar 22**|
||**£**||**£**|**£**|**£**|
|Restricted income funds|-||20,483|20,483|-|
|Unrestricted funds|15,543||19,933|21,042|14,434|
||________|________||________|________|
|Total|15,543
________|40,416
________||41,525
________|14,434
________|
The restricted income funds are not considered material enough to be shown individually. The restricted income funds not spent at the balance sheet date are recorded as creditors in note 6 to be spent in later periods. The unrestricted funds of the charity are retained to meet the costs of future activities and are not distributable to members.
## **8. COMPANY STATUS**
The company is limited by guarantee without having a share capital. The number of members is not limited. At 31 March 2022 there were twelve members (2021: eleven members).
## **9. RELATED PARTY TRANSACTIONS**
None of the current Directors received any remuneration or reimbursement of expenses during the year. There were no transactions required to be reported with the Directors or with parties related to them.
## **10. CONTINGENT LIABILITIES**
The rental agreement for the company’s office at the Sydenham Centre has a six month notice period. At the current rent this would amount to £1,210. The company also has a two year contract with Plusnet, early termination of which would incur a charge of £314 at the balance sheet date.
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## **Sydenham Arts Limited**
## **Trading and Profit and Loss Account For the year ended 31 March 2022**
|||**1 Nov 2019 to 1 Nov 2019 to**|**1 Nov 2019 to 1 Nov 2019 to**|**1 Nov 2019 to 1 Nov 2019 to**|
|---|---|---|---|---|
||**2022**|**2022 31 Mar 2021 31 Mar 2021**|||
||**£**|**£**|**£**|**£**|
|**Turnover**|||||
|Box Office and ticket sales|2,397||4,705||
|Refreshment sales at events|664||774||
|Visual Arts|3,095||1,910||
|Grant funding|18,030||23,893||
|Advertising and sponsorship|4,113||5,450||
|Donations, including Gift Aid|12,083||20,113||
|Other income|34||-||
||________|40,416|________|56,845|
|**Cost of Sales**|||||
|Performers’ costs|5,325||7,776||
|Event technical costs|1,660||1,137||
|Venue hire|1,656||1,438||
|Costs of refreshment sales|209||310||
|Marketing|1,557||1,338||
|Booking charges|148||673||
|Other expenses|-||-||
|Event specific personnel|5,180||10,278||
||________|15,735|________|22,950|
|||________||________|
|**GROSS PROFIT**||24,681||33,895|
|**Expenditure**|||||
|Administration personnel|15,544||19,716||
|Technical and marketing (non-specific)|21||35||
|Insurance|400||366||
|Website update|5,286||-||
|Office costs|4,539||3,626||
||________|25,790|________|23,743|
|||________||________|
|**(DEFICIT) / EXCESS OF INCOME OVER**|||||
|**EXPENDITURE**||(1,109)||10,152|
|||________||________|
|This page does not form part of the statutory financial|statements.||||
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