**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.
Page 2
**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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Page 7
continued...
**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|
|---|---|
Page 8
continued...
**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**|
Page 9
continued...
**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|
Page 10
continued...
**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|
Page 11
continued...
**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.
Page 12
**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
Page 13