REGISTERED CHARITY NUMBER: 1164035
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
FOR
COVENTRY PRIDE
Prime Chartered Accountants Corner Oak 1 Homer Road Solihull B91 3QG
COVENTRY PRIDE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 to | 3 |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Notes to the Financial Statements | 7 to | 12 |
| Detailed Statement of Financial Activities | 13 |
COVENTRY PRIDE
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2023
| TRUSTEES | P J Desson-Baxter (resigned 1/10/22) |
|---|---|
| A Khan | |
| C E Spreadbury (appointed 17/1/23) | |
| R J Harty (appointed 17/1/23) | |
| Rev K Mabbott (appointed 17/1/23) | |
| Mrs G S Musgreaves (appointed 17/1/23) | |
| D J Brightside (appointed 17/1/23) | |
| PRINCIPAL ADDRESS | 18 Owens Road |
| Coventry | |
| CV6 5QT | |
| REGISTERED CHARITY | 1164035 |
| NUMBER | |
| INDEPENDENT EXAMINER | Prime |
| Chartered Accountants | |
| Corner Oak | |
| 1 Homer Road | |
| Solihull | |
| B91 3QG |
Page 1
COVENTRY PRIDE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023
The trustees present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions 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 and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The promotion of equality and diversity for the public benefit by the organisation of an annual lesbian, gay, bisexual and trans pride event and other events including but not limited to the commemoration of International Day against Homophobia and Transphobia (IDHOT), LGBT History Month, Transgender Day of Remembrance, Coming Out Day and World AIDS Day.
Significant activities
This year we have been unable to plan nor run any of our usual events. As a new board of trustees, we focused on the administrative and legal responsibilities to comply with the accurate recording of the Charity's financial position to the Charity Commission that were up to two years overdue. We liased with existing funders, reviewing and renegotiating variances to the agreed projects to support the recruitment, training and development of new trustees to build the capacity of the trustee board to carry the charity into the future.
FINANCIAL REVIEW
Financial position
The statement of financial activities is set out on page 5 of the financial statements. In summary the incoming resources for the year amounted to £595 (2022: £2,537) with grants and other donations. The expenditure was £7,473 (2022: £33,048), with the main expense being the approval of accounts and future training..
Reserves policy
The trustees have reviewed the reserves of the charity. The review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves. The review concluded that to allow the charity to be managed efficiently and to provide for uninterrupted services, a general reserve equivalent to 3 months operating costs should be achieved.
FUTURE PLANS
To recruit additional trustees, and continue to train existing and future trustees in their legal responsibilities, developing their skills to build the capacity of the trustee board to carry the charity into the future. To reassess and update the Charity's governing document.
To rebuild relationships with the LGBTQIA+ community To recruit and train a team of volunteers to support the Charity's work.
To run the annual LGBT pride festival to celebrate the diversity of the LGBT community and to increase the social cohesion and inclusiveness of the LGBT local community. Other events are to be organised including but not limited to IDAHOT, TDOR, National Coming Out Day, World AIDS Day and LGBT history month. Run additional awareness campaigns surrounding LGBT sexual health and identity issues
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a Foundation Charitable Incorporated Organisation (CIO).
Organisational structure
The trustees who have served during the year are set out on page 1 and are appointed at the AGM, and meet on a regular basis. The Trustees have ultimate control ove all the affairs of the 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.
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COVENTRY PRIDE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. C E Spreadbury - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COVENTRY PRIDE
Independent examiner's report to the trustees of Coventry Pride
I report to the charity trustees on my examination of the accounts of Coventry Pride (the Trust) for the year ended 31 July 2023.
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 Act and in carrying out my examination I have followed all 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.
Jeremy Kitson FCA
Prime Chartered Accountants Corner Oak 1 Homer Road Solihull B91 3QG
Date: .............................................
Page 4
COVENTRY PRIDE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
| 2023 Unrestricted Restricted Total fund funds funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 551 - 551 Investment income 2 43 - 43 Total 594 - 594 EXPENDITURE ON Charitable activities Direct charitable expenditure 2,806 4,999 7,805 Other - 263 263 Total 2,806 5,262 8,068 NET INCOME/(EXPENDITURE) (2,212) (5,262) (7,474) Transfers between funds 8 (30) 30 - Net movement in funds (2,242) (5,232) (7,474) RECONCILIATION OF FUNDS Total funds brought forward 3,658 14,001 17,659 TOTAL FUNDS CARRIED FORWARD 1,416 8,769 10,185 |
2022 Total funds £ 2,536 1 2,537 32,785 263 33,048 (30,511) - (30,511) 48,170 17,659 |
|---|---|
The notes form part of these financial statements
Page 5
COVENTRY PRIDE
BALANCE SHEET 31 JULY 2023
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 5 - 527 CURRENT ASSETS Stocks 6 - - Cash at bank and in hand 4,444 8,683 4,444 8,683 CREDITORS Amounts falling due within one year 7 (3,028) (441) NET CURRENT ASSETS 1,416 8,242 TOTAL ASSETS LESS CURRENT LIABILITIES 1,416 8,769 NET ASSETS 1,416 8,769 FUNDS 8 Unrestricted funds Restricted funds: Other restricted funds Coventry & Warwickshire Friends Coventry City Council Resilience Arts Council Cultural Recovery Fund TOTAL FUNDS |
2023 Total funds £ 527 - 13,127 13,127 (3,469) 9,658 10,185 10,185 1,416 745 - 7,647 377 8,769 10,185 |
2022 Total funds £ 790 2,135 18,229 20,364 (3,495) 16,869 17,659 17,659 3,658 3,438 677 7,647 2,239 14,001 17,659 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. C E Spreadbury - Trustee
The notes form part of these financial statements
Page 6
COVENTRY PRIDE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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COVENTRY PRIDE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
2. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Deposit account interest | 43 | 1 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,536 - Investment income 1 - Total 2,537 - EXPENDITURE ON Charitable activities Direct charitable expenditure 1,351 31,434 Other - 263 Total 1,351 31,697 NET INCOME/(EXPENDITURE) 1,186 (31,697) RECONCILIATION OF FUNDS Total funds brought forward 2,472 45,698 TOTAL FUNDS CARRIED FORWARD 3,658 14,001 |
Total funds £ 2,536 1 2,537 32,785 263 33,048 (30,511) 48,170 17,659 |
|---|---|
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COVENTRY PRIDE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
| 5. | TANGIBLE FIXED ASSETS | |||||||
|---|---|---|---|---|---|---|---|---|
| Computer | ||||||||
| equipment | ||||||||
| £ | ||||||||
| COST | ||||||||
| At 1 August 2022 and 31 July 2023 | 1,053 | |||||||
| DEPRECIATION | ||||||||
| At 1 August 2022 | 263 | |||||||
| Charge for year | 263 | |||||||
| At 31 July 2023 | 526 | |||||||
| NET BOOK VALUE | ||||||||
| At 31 July 2023 | 527 | |||||||
| At 31 July 2022 | 790 | |||||||
| 6. | STOCKS | |||||||
| 2023 | 2022 | |||||||
| £ | £ | |||||||
| Stocks | - | 2,135 | ||||||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||||||
| 2023 | 2022 | |||||||
| £ | £ | |||||||
| Trade creditors | 442 | 615 | ||||||
| Other creditors | 3,027 | 2,880 | ||||||
| 3,469 | 3,495 | |||||||
| 8. | MOVEMENT IN FUNDS | |||||||
| Net | Transfers | |||||||
| movement | between | At | ||||||
| At 1.8.22 | in funds | funds | 31.7.23 | |||||
| £ | £ | £ | £ | |||||
| Unrestricted funds | ||||||||
| General fund | 3,658 | (2,212) | (30) | 1,416 | ||||
| Restricted funds | ||||||||
| Other restricted funds | 3,438 | (2,693) | - | 745 | ||||
| Coventry & Warwickshire Friends | 677 | (707) | 30 | - | ||||
| Coventry City Council Resilience | 7,647 | - | - | 7,647 | ||||
| Arts Council Cultural Recovery Fund | 2,239 | (1,862) | - | 377 | ||||
| 14,001 | (5,262) | 30 | 8,769 | |||||
| TOTAL FUNDS | 17,659 | (7,474) | - | 10,185 |
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COVENTRY PRIDE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 594 | (2,806) | (2,212) |
| Restricted funds | |||
| Other restricted funds | - | (2,693) | (2,693) |
| Coventry & Warwickshire Friends | - | (707) | (707) |
| Arts Council Cultural Recovery Fund | - | (1,862) | (1,862) |
| - | (5,262) | (5,262) | |
| TOTAL FUNDS | 594 | (8,068) | (7,474) |
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Other restricted funds Coventry & Warwickshire Friends Coventry City Council Resilience Arts Council Cultural Recovery Fund TOTAL FUNDS |
Net movement At 1.8.21 in funds £ £ 2,472 1,186 3,437 1 1,386 (709) 7,647 - 33,228 (30,989) 45,698 (31,697) 48,170 (30,511) |
At 31.7.22 £ 3,658 3,438 677 7,647 2,239 |
|---|---|---|
| 14,001 | ||
| 17,659 |
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COVENTRY PRIDE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,537 | (1,351) | 1,186 |
| Restricted funds | |||
| Other restricted funds | 1 | - | 1 |
| Coventry & Warwickshire Friends | (1) | (708) | (709) |
| Arts Council Cultural Recovery Fund | - | (30,989) | (30,989) |
| - | (31,697) | (31,697) | |
| TOTAL FUNDS | 2,537 | (33,048) | (30,511) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Other restricted funds Coventry & Warwickshire Friends Coventry City Council Resilience Arts Council Cultural Recovery Fund TOTAL FUNDS |
Net Transfers movement between At 1.8.21 in funds funds £ £ £ 2,472 (1,026) (30) 3,437 (2,692) - 1,386 (1,416) 30 7,647 - - 33,228 (32,851) - 45,698 (36,959) 30 48,170 (37,985) - |
At 31.7.23 £ 1,416 745 - 7,647 377 |
|---|---|---|
| 8,769 | ||
| 10,185 |
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COVENTRY PRIDE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 3,131 | (4,157) | (1,026) |
| Restricted funds | |||
| Other restricted funds | 1 | (2,693) | (2,692) |
| Coventry & Warwickshire Friends | (1) | (1,415) | (1,416) |
| Arts Council Cultural Recovery Fund | - | (32,851) | (32,851) |
| - | (36,959) | (36,959) | |
| TOTAL FUNDS | 3,131 | (41,116) | (37,985) |
PURPOSE OF THE RESTRICTED FUND
Included within restricted funds are the following funds:
Coventry & Warwickshire Friends - This restricted funding is to be used to continue the support groups previously managed by CWF and to contribute towards the storage of CWF and Coventry Pride equipment and assets and the charity's mobile phone.
Coventry City Council Resilience - This bursary is for community and voluntary organisations who work to increase the capacity and resilience of Coventry people. The bursary is to increase the financial sustainability of these organisations so they can continue and grow their current work.
Arts Council Cultural Recovery Fund - The funds received are to fund the main pride festival, as well as several artistic commissions for LGBT+ artists exploring LGBT+ life and culture and the charity are also commissioning a piece of work exploring Black LGBT+ life in the UK. The funding will also help towards enabling Coventry Pride to remain sustainable in the future.
Other Restricted Funds - This relates to smaller restricted funds which have been combined for presentation in the accounts and relate to various purposes.
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2023.
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COVENTRY PRIDE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Hire of plant and machinery Rent and Venue Hire Refreshments & staff welfare Volunteers expenses General purchases Subcontractors Event entertainment costs Other Computer equipment Support costs Management Telephone Postage and stationery Advertising Travel and hire expenses IT consumables Professional fees Training costs Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net expenditure |
2023 £ 551 43 594 - 960 187 - 2,282 - - 3,429 263 211 15 - - 173 - 2,354 2,753 39 1,584 8,068 (7,474) |
2022 £ 2,536 1 2,537 200 3,111 368 642 17,547 3,300 3,625 28,793 263 394 9 1,125 124 173 55 - 1,880 72 2,040 33,048 (30,511) |
|---|---|---|
This page does not form part of the statutory financial statements
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