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Charity Registration Number: 1164226
Global Arts Kingston
Trustees' report and financial statements for the Year Ending 31 March 2022
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DocuSign Envelope ID: 40CAD377-BBB2-4BC0-B02D-E19495A5F726
Global Arts Kingston Charity Registration Number: 1164226
| Contents | |
|---|---|
| Page | |
| Trustees report | 3 - 8 |
| Independent Examiners' report to the Trustees | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12 – 15 |
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Global Arts Kingston Charity Registration Number: 1164226 Report of the Trustees Year Ending 31 March 2022
The Trustees present their report and the financial statements for the year ending 31 March 2022.
Objectives and activities
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1) To advance the education of the public in the arts of minority ethnic communities within the Royal Borough of Kingston-upon-Thames and its environs in particular but not exclusively by the provision and co-ordination of artistic events.
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2) To advance the education of young people in artistic skills through both informal and formal education channels and through community networks in order to foster and appreciation and enjoyment of them.
In order to achieve these aims GAK organises the following main areas of work in furtherance of its public benefit duties:
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An annual programme of exhibits, showcases and performances inspired by the diversity of our community;
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Participatory and professional development projects celebrating shared experience of heritage;
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Workshops, discussion groups and campaign action to represent diverse communities locally.
The Trustees consider that the activities undertaken, offered at no or minimal cost, provide benefit to the public and confirm that in exercising their powers and duties, they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission and have complied with their duties under Section 17 of the Charities Act 2011.
Achievements and performance
Between April 2020 and March 2021 Global Arts did not run any projects due to the Pandemic. It did spend considerable time and effort in the funding application for the Global Threads Project with the National Heritage Lottery Fund.
Financial review
The financial results for the year are as shown in the Accounts section of this report and run from 1[st] April 2021 to 31[st] March 2022.
The main emphasis this financial year was planning the Global Treads project, which involved meetings with several organisations including Kingston University and five local community organisations. Global Arts was successful in the bid and was awarded a grant of £66,590 295 from the National Heritage Fund for the Global Threads Project; of which 50% (£33,295) was received financial year 2021-22.
The core funding of GAK was from Royal Borough of Kingston as part of the commission process received in the previous financial year. This has been committed as match funding for the Global Threads project.
In the financial year concerned, GAK made a surplus of £31,741 for this period and ended the year with carry forward reserves of £67,883 of which £21,528 were in unrestricted funds.
Reserves Policy
The main aim of the Trustees is to ensure that GAK holds adequate reserves for working capital purposes and has sufficient funds to meet contractual liabilities and winding down costs, were the organization to
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close. This includes redundancy pay, were there to be any employees, amounts due to creditors and commitments under contracts.
GAK aims to have prudent reserves in the region of 15% of current expenditure. The current reserve (or contingency) is £5,000 which is in excess of the 15% guide. The trustees aim to keep the reserves as close to 15% as possible.
In addition to the contingency reserve, the current general unrestricted reserve is £22,082 which will be used for administration and running costs, as well as fundraising and project planning for GAK.
Details of all reserves can be found in notes 8 and 9.
Structure, governance and management
Global Arts Kingston (GAK) was established as a Charitable Incorporated Organisation (CIO) on 2[nd] November 2015 with its constitution based on the charity commission’s Association Model and a registration number of 1164226. This is the second trustee report and accounts for this structure of Global Arts Kingston.
The following Trustees were in place at the inception of the new CIO and throughout the period:
Mr Mahendra Thakar (Chair) Mrs Asina Ismail Mr Karim Jivraj Mrs Malti Patel Miss Sejal Sehmi Ms Sonal Shah (Treasurer) Mr Nicholas Shattock Mrs Dipti Sivlal
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Global Arts Kingston Charity Registration Number: 1164226 Report of the Trustees Year Ending 31 March 2022
INDUCTION AND TRAINING OF TRUSTEES
Induction and training of trustees is covered as presentations at the management committee meetings. The new trustees normally receive their induction at the first meeting of the financial year. The policies and procedures are reviewed on a rolling program basis at the management committee meetings. Governance training for the trustees is organized on a need basis.
ORGANISATION STRUCTURE OF GAK AND DECISION MAKING PROCESS
The governance of the organisation is vested in a Management Committee who is also the trustees. This Committee is made up of eight members elected at the AGM and up to three people are co-opted if additional skills are required or gap in wider community representations. It has overall responsibility for management, policy, forward planning, finance, quality, monitoring and evaluation. The committee has wider representation as the members are from diverse ethnic backgrounds and community organizations.
The operational responsibilities, arts activities and development work are delegated to staff who work on a part time basis but as there were no activities in this financial year, no such costs were incurred.
RISKS AND INTERNAL CONTROL
The Trustees have overall responsibility for ensuring that GAK has appropriate systems of control, both financial and operational. These systems are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. During the Period, the Trustees continued to review the major financial and operational risks facing GAK and continue to monitor on a regular basis the implementation of any changes necessary to ensure that, as far as is reasonable, controls are in place to protect GAK, its members, those working for it, the general public and other stakeholders.
STRATEGIC DEVELOPMENT
GAK operates within a strategic framework in order to meet the objectives. The current business plan prepared with wider consultation with stake holders was reviewed and updated in 2015. The three key issues were identified to tackle as priorities these three issues form the basis of our key aims and are:
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Capacity and resourcing GAK : we recognise for the organisation to flourish it needs to move away from over reliance on the Board to being staff led
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Artistic Programme: everything we do should be driven by the right balance of high quality projects, events, showcases and opportunities for both professional and amateur artists to present their work to audiences and participants, both live and online
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Community buy-in: as a community organisation it is vital GAK continues to represent the communities it serves, at all levels, and remains relevant and connected to the wider borough of Kingston
GAK works in collaboration with other strategic organisations within the Borough including Kingston Racial and Equalities Council, Kingston Voluntary Action and Kingston Arts.
GAK also partners in joint activities with the local authority and other community organisations.
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Global Arts Kingston Charity Registration Number: 1164226 Report of the Trustees Year Ending 31 March 2022
Reference and Administration
Business Address and Registered Office
16 Greenfield Avenue Surbiton KT5 9HR
Independent Examiner
There was no independent examiner appointed for this period.
Bankers Co-op Bank Relationship Account Support Team PO Box 250 Skelmersdale WN8 6WT
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Global Arts Kingston Charity Registration Number: 1164226 Report of the Trustees Year Ending 31 March 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the report and accounts in accordance with applicable law and regulations. Charity law requires the Trustees to prepare accounts for each financial Period. Under that law the Trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these accounts, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charity SORP 2015. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board
Mahendra Thakar Sonal Shah Chair Treasurer
Date:
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Global Arts Kingston Charity Registration Number: 1164226 Statement of financial activities for the Year Ending 31 March 2022
| Notes Income from: Charitable activities 2 Total incoming resources Expenditure on: Charitable activities 3 Support costs 4 Total resources expended Gross incoming / (outgoing resources) Total funds brought forward Total funds carried forward |
2022 Total £ Restricted 33,295 33,295 1000 - 1000 32,295 7500 39,795 |
2022 Total £ Unrestricted 333 333 - 887 887 (554) 22,082 21,528 |
2022 Total £ 2021 Total £ 33,295 10,000 33,295 10,000 1000 - 887 552 1887 552 31,741 9448 22,582 26,694 61,323 36,142 |
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Prior year comparisons:
Income: In the previous year restricted income was NIL and unrestricted income was £10,000. Expenditure: In the previous year restricted expenditure was NIL and unrestricted expenditure was £552.
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Global Arts Kingston Charity Registration Number: 1164226
Balance sheet as at 31 March 2022
| Notes Current assets Debtors 6 Cash at bank and in hand Current Liabilities Creditors 7 Net Assets Funds Unrestricted funds General Fund Kingston Carnival Fund Contingency Fund 8 8 8 Restricted funds 9 Total funds |
£ - 61,779 61,779 456 |
2022 2021 £ £ £ - 30,038 30,038 456 61,323 29,582 11,528 2,500 5,000 22,082 2,500 5,000 42,295 - 61,323 29852 |
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The financial statements were approved by the Trustees on 30[th] January 2022 and signed on their behalf by
Mahendra Thakar Chair 31.01.2023
Sonal Shah Treasurer 31.01.2023
The notes on pages 12 to 15 form an integral part of these financial statements.
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Global Arts Kingston Charity Registration Number: 1164226
Notes to financial statements for the Year Ending 31 March 2022
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the Period and the preceding Period.
1.1. Basis of accounting
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)).
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small charitable company.
Global Arts meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the Period in which they are receivable.
1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Equipment costs are considered to be minimal and therefore are charged to the Period in which they are purchased.
1.4. Leasing
Rentals payable under operating leases are charged against income on a straight-line basis over the lease term.
1.5 Going Concern
After making enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.
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Global Arts Kingston Charity Registration Number: 1164226 Notes to financial statements for the Year Ending 31 March 2022
| 2. Income from Charitable Activities RBK grants (commissioning) RBK grant (carnival) Waitrose National Heritage Fund 3. Expenditure on Charitable Activities Artists Fees and Expenses Project Service Costs Premises Hire Project Materials and Other Costs Analysis by Events Carnival Musical Chairs International Women Global Threads Total resources expended |
2022 Total £ Restricted - - - 33,295 33,295 2022 Total £ Restricted - 1000 - - 1000 - - - 1000 1000 |
2022 Total £ Restricted - - - 33,295 33,295 2022 Total £ Restricted - 1000 - - 1000 - - - 1000 1000 |
2022 Total £ Restricted - - - 33,295 33,295 2022 Total £ Restricted - 1000 - - 1000 - - - 1000 1000 |
2022 Total £ 2021 Total £ 2021 Total £ Unrestricted - 333 - 10,000 - - - 10,000 - - - 10,000 10,000 10,000 2022 Total £ 2022 Total £ 2021 Total £ Unrestricted - - - 887 - 1000 - 887 - - - 552 887 1887 552 - - - - - - - - - - 1000 - - 1000 - |
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| 1000 - - - 1000 1000 |
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Global Arts Kingston Charity Registration Number: 1164226 Notes to financial statements for the Year Ending 31 March 2022
| 4. Expenditure on Support Costs Independent Examination Fees Insurance and Legal Fees Premises Hire Publicity Freelance Personnel Costs Sundry Fees for Services Total resources expended |
2022 Total £ Restricted - - - - - - 1000 1000 |
2022 Total £ Unrestricted - 91 - - - 96 700 887 |
2022 Total £ 2021 Total £ - 91 - - - 96 1700 - 456 - - - 96 - 1887 7450 |
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5. Related Party Transactions
Trustees: No Trustees received any payments for services or for expenses during the Period.
Related Party Transactions: There were no related party transactions.
6. Debtors
| Income Receivable 7. Creditors Trade creditors |
2022 Total £ - - 2022 Total £ 456 456 |
2021 Total £ - |
|---|---|---|
| - | ||
| 2021 Total £ 456 |
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| 456 | ||
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Global Arts Kingston Charity Registration Number: 1164226 Notes to financial statements for the Year Ending 31 March 2022
| 8. Unrestricted funds General Fund Global Threads Fund Kingston Carnival Fund Contingency Fund |
Brought Forward 22,082 - 2,500 5,000 29,582 |
Incoming resources 333 43,295 - - 43,628 |
Outgoing resources 10,887 1,000 - - 21,887 |
At March 2022 11,528 42,295 2,500 5,000 61,323 |
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Purposes of unrestricted funds
The General Fund is established to further the objectives of the Charity and provide funding to cover the management and administration costs should income be insufficient.
The Global Threads fund is a fund designated to the Global Threads Project.
The Kingston Carnival Fund is a designated reserve to support the Annual Kingston Carnival.
The Contingency Fund is a designated reserve to ensure that GAK holds adequate reserves for working capital purposes and has sufficient funds to meet contractual liabilities and winding down costs, were the organization have to close.
| 9. Restricted funds Project Funds Carnival Global Threads International Women Global Beats |
Brought Forward Incoming resources 2,500 - - - - 43,295 - - 2,500 43,295 |
Outgoing resources - 1000 - - 1000 |
At March 2021 2,500 42,295 - - 44,795 |
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Purposes of restricted funds
To carry out the objectives as laid down in the project contracts signed between GAK and various funders.
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