2022-03-31-accounts - Hammersmith And Fulham Arts Festival

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HAMMERSMITH AND FULHAM ARTS FESTIVAL

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

CHARITY REGISTERED NUMBER 1162116

LONDON ACCOUNTANCY PRACTICE SOJOURNER TRUTH CENTRE 161 SUMNER ROAD LONDON SE15 6JL

HAMMERSMITH AND FULHAM ARTS FESTIVAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

CONTENTS	Page
Administrative Information	3
Report of the Management Committee	4-5
Independent Examiner’s Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes and Schedules to the accounts	9-10

HAMMERSMITH AND FULHAM ARTS FESTIVAL ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2022

REGISTRATION DETAILS HAMMERSMITH AND FULHAM ARTS FESTIVAL registered as a charity in England and Wales – Charity Registration Number 1162116

GOVERNMENT DOCUMENT HAMMERSMITH AND FULHAM ARTS FESTIVAL is governed by it constitution and the Charities Act 2006 and 2011 respectively.

MANAGEMENT COMMITTEE. Helen Rowe.............................Trustees Esther Calatayud…….............Trustees Julian Hillman………...............Trustees

FORMAL ADDRESS Hammersmith & Fulham Arts Festival Riverside Studios 101 Queen Carolinest London. W6 9BN

BANKERS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling, ME19 4JQ

INDEPENDENT EXAMINERS London Accountancy Practice Sojourner Truth Centre 161 Sumner Road London SE15 6J

HAMMERSMITH AND FULHAM ARTS FESTIVAL MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Management Committee present their financial statements for the year ended 31 March 2022.

OBJECTIVES

3. Aims and Objectives

The object of the Hammersmith and Fulham Arts Festival (HFArtsFest) is to advance the appreciation of and involvement in the arts in the London Borough of Hammersmith and Fulham for the public benefits, in particular, but not exclusively, through the provision of arts festival. HFArtsFest is an inclusive annual ArtsFest for the whole community including disable and not disable artists.

4. Trustees Report

The Charity is governed by a board of four trustees recruited from the local arts community. The Charity is interested in expanding the board to reflect the diversity of the borough but paused that process during the pandemic. It intends to return to it during the next financial year.

Activities

The focus of the charity’s activities has moved away from the formal festival model established in the early days of the charity’s existence to a stronger emphasis on community participation and engagement in the arts. The trustees are particularly interested in facilitating access to the arts for the most disadvantaged members of our community. To this end, during the summer of 2021, arts activities were taken directly on to estates especially in Fulham to engage children and their families as they went about their day. These spontaneous events were very successful and clearly reached young people who would not otherwise have enjoyed these opportunities.

In February 2021, we were awarded a grant by HS2 to develop a project in the Old Oak area which brought regular participatory arts activities to local residents with the aim of increasing community cohesion through the shared enjoyment of arts activities. We have worked closely with local primary schools and volunteers to establish a weekly programme of activities especially for children and their families.

We continued to support the disability arts festival, JOY, delivered in partnership with Turtle Key Arts. This unique event provides opportunities for professional artists with

disabilities as well as for young people at the borough’s special schools. We have been grateful to the Arts Council and to John Lyons for financial support for this important development.

Looking to the future, we are keen to explore the contribution which participation in the arts can make to greater engagement with the climate change agenda. We have also contributed to the borough’s Arts commission and will continue to engage with the development of a council arts strategy.

Funding came from a range of local, London wide and national funders. We are very aware that we need to develop a longer term financial strategy to ensure that we have the resources to support our longer term strategic objectives for the charity.

HAMMERSMITH AND FULHAM ARTS FESTIVAL MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31 MARCH 2022

STATEMENT OF MANAGEMENT COMMITTEE RESPONSIBILITIES

The Management Committee are required to prepare financial statements which give a true and fair view of the state of affairs of the project and of the income and expenditure of the project for that period. In preparing these financial statements, the management committee are required to:

select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the project will continue in operation.

The Management Committee are responsible for keeping proper records which disclose at any time the financial position of the project. They are also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HAMMERSMITH AND FULHAM ARTS FESTIVAL INDEPENDENT EXAMINER’ S REPORT FOR THE YEAR ENDED 31 MARCH 2022

I report on the accounts of the Charity for the year ended 31[st] March 2022, which are set out on pages 7 to 8.

I report to the trustees on my examination of the accounts of the Hammersmith and Fulham Arts Festival for the year ended 31 March 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 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 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.

Signed………………………………………………..Date:………………………………..

A. Adebambo, MBA, ACMA, CGMA, ACG, For London Accountancy Practice. Sojourner Truth Community Centre 161 Sumner Road London SE15 6JL

HAMMERSMITH & FULHAM ARTS FESTIVAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 INCOMING RESOURCES Unrestricted Restricted Fund Fund 2022 Total 2021 Totsl Incoming Resources From Gener,. Voluntary Income Other Income Total Incomlng Resources 43,108 43,108 35,595 43,110 43,110 35,595 RESOURCES EXPENDED Charitable Activities Total Resources Expended 35.168. 35,168 35,168 35,168 24,355 24,355 Net Incoming Resources 7,942 7,942 11,240 Fund Balance Brought Forward 2,876 31,481 34,357 23,117 Fund Balance Carried Forward 2,876 39,423 42,299 34,357

Signed

Helen Rowe Chair 15 December 2022

HAMMERSMITH AND FULHAM ARTS FESTIVAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[st] MARCH 2022

1. ACCOUNTING POLICIES

1.1 Basis of preparation of Financial Statements

The financial statements are prepared under the historic cost convention and include the results of the charity’s operations which are described in the report of the directors /trustees all of which are continuing.

The accounts have been prepared in accordance with the Statements of Recommended Practice for charity accounts.

The charity has taken advantage of the exemption of Financial Reporting Standard No 1 from the requirements to produce a cash flow statement on the grounds that it qualifies as a small charity

1.2 Incoming Resources

1.2.1 Revenue grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the Balance Sheet as deferred income to be recognised in the future accounting period.
1.2.2 Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities.
1.3 Restricted Funds
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of management and support costs.
1.4 Unrestricted Funds

Unrestricted funds are donations and other incomes received or generated for the objects of the organisation without further specified purpose and are available for general funds.

1.5 Designated Funds

Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.

1.6 Resources Expended

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.

HAMMERSMITH AND FULHAM ARTS FESTIVAL NOTES TO THE ACCOUNTS (Contd) FOR THE YEAR ENDED 31[st] MARCH 2022 2.0 CREDITORS & ACCRUALS 2022 2021 £ £ Accountancy Fees 600 500 600 500 3.0