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2024-03-25-accounts

The Spire Arts Limited

Charity No. 1165244

Company No. 08463076

Trustees' Report and Unaudited Accounts

25 March 2024

The Spire Arts Limited Contents

Pages
Trustees' Annual Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Summary Income and Expenditure Account 8
Balance Sheet 9
Notes to the Accounts 10 to 16
Detailed Statement of Financial Activities 17 to 18

Page 1

The Spire Arts Limited Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 25 March 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 08463076

Charity No. 1165244

Principal Office

The PCC of St George w St Anne & St Mark St George's Church St George's Road Brighton BN 2 1ED

Registered Office

The Spire Arts St Marks Chapel Eastern Road Brighton BN2 5JN

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

M.D. Adams L.E. Church L.S.M.L. Greci R. Hunt S.M. Meek A. Stanger A. Vernon-Smith (Resigned 29 July 2023)

Accountants

Simon Winnard & Company Redington Court 69 Church Road Hove

Page 2

The Spire Arts Limited Trustees Annual Report

BN3 2BB

OBJECTIVES AND ACTIVITIES

The Charity's objectives are to ‘advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama.’

The Spire Arts supports the development and presentation of theatre and performance for the former listed church it occupies in East Brighton. It encourages an open dialogue between professional artists and local people within our space and produces a programme of audience development activity that strives to remove barriers to access, engagement and understanding.

The Spire Arts Programme comprises three interlinked strands of activity. These are:

  1. A rolling programme of artist support through the provision of free or low-cost development space for artist and companies

  2. At key moments in Brighton & Hove’s cultural calendar we present a programme of events in partnership with other organisations (e.g. Brighton Festival, Brighton Digital Festival, Brighton Pride and at Christmas and Halloween)

  3. Advocacy and advice for local artists and companies comprising one-to-one sessions with the Co-Directors

In summary, The Spire Arts is working to:

ACHIEVEMENTS AND PERFORMANCE

Page 3

The Spire Arts Limited Trustees Annual Report

Following the success of Sheila Ghelani’s A Restorative we met with BF to reflect on the project and plan our Festival commission for May 2024. We commissioned artist Sue Hewlett to present a new iteration of her retrospective performance installation TV Dinners.

The Spire Arts successfully secured funding to support a new music festival, Our Sounds, from Arts Council England through the Grassroots Music programme.

Online Visitors and Social Media

The Spire Arts increased its online content and visitors. The Spire Arts left Twitter in this period due engagement and the questionable level of discourse on the platform. Social media followers on Facebook and Instagram increased from 2,627 in 2021/22 to 3,100 in 2023/24.

Investing in Local Artists and Creative Development

In 2023/24 The Spire Arts worked with 8 artists and companies through providing low cost and in kind residency space. The Spire Arts champions the value of the arts by continuing to contribute to local and regional strategy, policy and provision of services through involvement with East Brighton Hub, What’s Next Brighton & Hove and the Brighton & Hove Cultural Alliance.

Venue Hire and Income Generation

Our ability to hire the venue in 2022/23 was impacted by continuing issues with cost of living, we generated £29,308.99 in hire income mainly through wedding receptions. During 2023-24 £15,790.64 in car parking and storage charges. Donations to the charity totalled £160.43

Priorities and Policies

The Spire Arts has made successful applications for project support from Arts Council England, Sussex Community Foundation, Brighton & Hove City Council, and East Brighton Trust to support our artistic programme.

FINANCIAL REVIEW

The level of reserves is monitored by the Trustees at its quarterly meetings and is currently considered to be reasonable, given the nature and scale of our activities. Our aim is that the level of free reserves (that is those funds not tied up in fixed assets and not designated or restricted) should be in the region of £10,000, which has been achieved successfully during 2023/24 The charity uses Lloyds Bank for its banking purposes.

PLANS FOR FUTURE PERIODS

In January 2024, The Spire was forced to close our premises due to structural damage to the steeple of St Mark’s Chapel. This was particularly disappointing as The Spire had recently concluded a lengthy lease negotiation process securing the long-term use of St Mark's Chapel for cultural use. The closure resulted in the cancellation of our Brighton Festival 2024 commission and the Our Sounds Festival.

As of the end of the financial year 23/24 the trustees were working closely with the Co Directors to monitor the situation with our ability to generate income curtailed. However, on learning the building was out of use for the foreseeable future and the unacceptable level of financial risk this presented to The Spire Arts, the trustees made the difficult decision to begin winding down of the charity in July 2024 and communicating with key stakeholders.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Spire Arts Ltd was incorporated as a company limited by guarantee on 26 March 2013 (Company number 08463076) and registered as a charity on 20 January 2016 ( Registered Charity Number 1165244) . Its governing document is its Memorandum and Articles of Association.

Page 4

The Spire Arts Limited Trustees Annual Report

The Spire Arts is governed by a Board of Trustees; these volunteers are trustees of the charity and members of the company. The minimum number of trustees is three and, unless otherwise determined by a General Meeting, a maximum of twelve.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

R Hunt Trustee 24 January 2025

Page 5

The Spire Arts Limited Independent Examiners Report

Independent Examiner's Report to the trustees of The Spire Arts Limited

I report to the charity trustees on my examination of the financial statements of The Spire Arts Limited for the year ended 25 March 2024.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

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 financial statements to be reached.

E de Souza

Edward R de Souza MAAT Simon Winnard & Company Redington Court 69 Church Road Hove

BN3 2BB 24 January 2025

Page 6

The Spire Arts Limited Statement of Financial Activities

for the year ended 25 March 2024

Notes
Income and endowments
from:
Donations and legacies
4
Other trading activities
5
Investments
6
Other
7
Total
Expenditure on:
Raising funds
8
Other
9
Total
Net gains on investments
Net expenditure
10
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Unrestricted
funds
2024
£
160
49,628
454
57,633
Restricted
funds
2024
£
-
-
-
-
Total funds
2024
£
160
49,628
454
57,633
Total funds
2023
£
1,241
40,408
68
13,903
107,875
43,575
70,685
-
-
-
107,875
43,575
70,685
55,620
19,360
46,075
114,260
-
-
-
114,260
-
65,435
-
(6,385)
-
-
-
(6,385)
-
(9,815)
-
(6,385) - (6,385) (9,815)
(6,385)
44,144
-
15,000
(6,385)
59,144
(9,815)
68,959
37,759 15,000 52,759 59,144

Page 7

The Spire Arts Limited Summary Income and Expenditure Account

for the year ended 25 March 2024

Income
Interest and investment income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net expenditure before tax for the year
Net expenditure for the year
2024
£
107,421
454
107,875
114,260
-
114,260
(6,385)
(6,385)
2023
£
55,552
68
55,620
64,338
1,097
65,435
(9,815)
(9,815)

Page 8

The Spire Arts Limited Balance Sheet

at 25 March 2024

Company No.
08463076
Notes
2024
£
Fixed assets
Tangible assets
12
127
127
Current assets
Debtors
13
20
Cash at bank and in hand
53,592
53,612
Creditors:Amount falling due within one year
14
(980)
Net current assets
52,632
Total assets less current liabilities
52,759
Net assets excluding pension asset or liability
52,759
Total net assets
52,759
The funds of the charity
Restricted funds
15
Restricted income funds
15,000
15,000
Unrestricted funds
15
General funds
37,759
37,759
Reserves
15
Total funds
52,759
2023
£
127
127
1,540
60,701
62,241
(3,224)
59,017
59,144
59,144
59,144
15,000
15,000
44,144
44,144
59,144

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 25 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 25 March 2024

And signed on its behalf by:

S.M. Meek Trustee 25 March 2024

Page 9

The Spire Arts Limited Notes to the Accounts

for the year ended 25 March 2024

Basis of preparation

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)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

The Spire Arts Limited Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery 25% Straight line Fixtures & fittings 25% Straight line Computer equipment 25% Straight line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 11

The Spire Arts Limited Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 12

The Spire Arts Limited Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Other trading activities
Investments
Other
Total
Expenditure on:
Raising funds
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Donations
Unrestricted
funds
2023
£
1,241
40,408
68
13,903
55,620
19,360
46,075
65,435
(9,815)
(9,815)
(9,815)
53,959
44,144
Unrestricted
£
160
160
Restricted
funds
2023
£
-
-
-
-
-
-
-
-
-
-
-
15,000
15,000
Total
2024
£
160
160
Total funds
2023
£
1,241
40,408
68
13,903
55,620
19,360
46,075
65,435
(9,815)
(9,815)
(9,815)
68,959
59,144
Total
2023
£
1,241
1,241

Page 13

The Spire Arts Limited Notes to the Accounts

Event income and room hire
Parking and storage rent
6
Income from investments
Deposit account interest
7
Other income
Grants
8
Expenditure on raising funds
Fundraising trading costs
Purchases
Other direct costs
9
Other expenditure
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
Unrestricted
£
33,837
15,791
49,628
Unrestricted
£
454
454
Unrestricted
£
57,633
57,633
Total
2024
£
33,837
15,791
49,628
Total
2024
£
454
454
Total
2024
£
57,633
57,633
Total
2023
£
27,051
13,357
40,408
Total
2023
£
68
68
Total
2023
£
13,903
13,903
Unrestricted
£
1,063
42,512
43,575
Unrestricted
£
41,069
-
2,887
26,729
70,685
Total
2024
£
1,063
42,512
43,575
Total
2024
£
41,069
-
2,887
26,729
70,685
Total
2023
£
2,462
16,898
19,360
Total
2023
£
25,024
1,097
2,387
17,567
46,075

Page 14

The Spire Arts Limited Notes to the Accounts

10 Net expenditure before transfers
2024 2023
This is stated after charging: £ £
Depreciation of owned fixed assets - 1,097
11 Staff costs
No employee received emoluments in excess of £60,000.
12 Tangible fixed assets
Cost or revaluation
At 26 March 2023
At 25 March 2024
Depreciation and
impairment
At 26 March 2023
At 25 March 2024
Net book values
At 25 March 2024
At 25 March 2023
13 Debtors
Trade debtors
14 Creditors:
amounts falling due within one year
Trade creditors
Other creditors
Accruals
Plant and
machinery
£
1,151
1,151
1,024
1,024
127
127
Fixtures &
fittings
£
3,032
3,032
3,032
3,032
-
-
2024
£
20
20
2024
£
-
404
576
980
Computer
equipment
£
205
205
205
205
-
-
Total
£
4,388
4,388
4,261
4,261
127
127
2023
£
1,540
1,540
2023
£
2,204
420
600
3,224

Page 15

The Spire Arts Limited Notes to the Accounts

15 Movement in funds

At 26 March
2023
Restricted funds:
Restricted income funds:
Capital works fund
15,000
Total
15,000
Unrestricted funds:
General funds
44,144
Total funds
59,144
Purposes and restrictions in relation to the funds:
Restricted funds:
Capital works fund
16 Analysis of net assets between funds
Fixed assets
Net current assets
17 Reconciliation of net debt
Cash and cash equivalents
Net debt
Incoming
resources
(including
other
gains/losses
)
£
-
-
107,875
107,875
Resources
expended
£
-
-
(114,260)
(114,260)
At 25
March
2024
£
15,000
15,000
37,759
52,759
Unrestricted
funds
£
127
36,962
37,089
At 26 March
2023
£
Restricted
funds
£
-
15,670
15,670
Cash flows
£
Total
£
127
52,632
52,759
At 25
March
2024
£
60,701 (7,109) 53,592
60,701
60,701
(7,109)
(7,109)
53,592
53,592
18 Related party disclosures
Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 16

The Spire Arts Limited Detailed Statement of Financial Activities

for the year ended 25 March 2024

Income and endowments from:
Donations and legacies
Donations
Other trading activities
Event income and room hire
Parking and storage rent
Investments
Deposit account interest
Other
Grants
Total income and endowments
Expenditure on:
Costs of other trading activities
Purchases
Other direct costs
Total of expenditure on raising
funds
Premises costs
Rent
Rates
Light, heat and power
Premises cleaning
Premises insurances
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of Plant and
machinery
Depreciation of Fixtures & fittings
Depreciation of Computer
equipment
Unrestricte
d funds
2024
£
160
160
33,837
15,791
49,628
454
454
57,633
57,633
107,875
1,063
42,512
43,575
43,575
1,000
360
2,823
2,612
9,325
24,949
41,069
-
-
-
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Total funds
2024
£
160
160
33,837
15,791
49,628
454
454
57,633
57,633
107,875
1,063
42,512
43,575
43,575
1,000
360
2,823
2,612
9,325
24,949
41,069
-
-
-
Total funds
2023
£
1,241
1,241
27,051
13,357
40,408
68
68
13,903
13,903
55,620
2,462
16,898
19,360
19,360
1,200
-
2,375
5,426
6,674
9,349
25,024
288
758
51

Page 17

The Spire Arts Limited Detailed Statement of Financial Activities

Exchange rate (gain)/loss
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Management charges
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net expenditure
Net expenditure before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
243
494
8
448
602
1,092
2,887
552
23,728
2,449
26,729
70,685
114,260
-
(6,385)
(6,385)
-
(6,385)
44,144
37,759
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15,000
15,000
243
494
8
448
602
1,092
2,887
552
23,728
2,449
26,729
70,685
114,260
-
(6,385)
(6,385)
-
(6,385)
59,144
52,759
597
368
8
323
32
1,059
3,484
438
17,129
-
17,567
46,075
65,435
-
(9,815)
(9,815)
-
(9,815)
68,959
59,144

Page 18

Issuer

Simon Winnard & Company

Document generated Mon, 27th Jan 2025 12:03:40 GMT

Document fingerprint e2d0bf6d24dd12c2a8de9fc694e6db25

Parties involved with this document

Document processed

Party + Fingerprint

Mon, 27th Jan 2025 12:05:06 GMT Mon, 27th Jan 2025 12:14:53 GMT Mon, 27th Jan 2025 12:14:53 GMT

Mr R Justin Hunt - Signer (bd836a34f3ba89836a52b8d55baa1c5f) Edward de Souza - Signer (5f8a8db6c6f1673c057e8e90d5c16b40) Mr David Sheppeard - Copied In (14d2c04dc22adb1d9314d027fb776b85)

Audit history log

Date

Action

Mon, 27th Jan 2025 12:03:40 GMT Mon, 27th Jan 2025 12:03:40 GMT

Mon, 27th Jan 2025 12:03:40 GMT Mon, 27th Jan 2025 12:03:40 GMT Mon, 27th Jan 2025 12:03:40 GMT Mon, 27th Jan 2025 12:03:50 GMT Mon, 27th Jan 2025 12:03:50 GMT Mon, 27th Jan 2025 12:03:50 GMT Mon, 27th Jan 2025 12:04:37 GMT Mon, 27th Jan 2025 12:05:06 GMT Mon, 27th Jan 2025 12:05:06 GMT Mon, 27th Jan 2025 12:05:06 GMT Mon, 27th Jan 2025 12:05:07 GMT Mon, 27th Jan 2025 12:14:22 GMT Mon, 27th Jan 2025 12:14:31 GMT Mon, 27th Jan 2025 12:14:53 GMT Mon, 27th Jan 2025 12:14:53 GMT Mon, 27th Jan 2025 12:14:53 GMT Mon, 27th Jan 2025 12:14:54 GMT

Envelope generated with fingerprint 0830e983fa2b1f846ad0fb82fc04c49b18.133.63.166 Document generated with fingerprint e2d0bf6d24dd12c2a8de9fc694e6db25.18.133.63.166 Mr R Justin Hunt has been assigned to this envelope.18.133.63.166 Edward de Souza has been assigned to this envelope.18.133.63.166 Mr David Sheppeard has been assigned to this envelope.18.133.63.166 Envelope generated Sent the envelope to Mr R Justin Hunt for signing Document emailed to party email18.175.227.246 Mr R Justin Hunt viewed the envelope86.30.205.212 Mr R Justin Hunt signed the envelope86.30.205.212 Sent the envelope to Edward de Souza for signing86.30.205.212 Mr R Justin Hunt viewed the envelope86.30.205.212 Document emailed to party email3.10.208.42 Edward de Souza viewed the envelope109.73.121.1 Edward de Souza viewed the envelope51.141.81.232 Edward de Souza signed the envelope109.73.121.1 Sent the envelope to Mr David Sheppeard for signing109.73.121.1 This envelope has been signed by all parties109.73.121.1 Edward de Souza viewed the envelope109.73.121.1

Mon, 27th Jan 2025 12:14:54 GMT Document emailed to party email18.134.132.230