DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 REGISTERED COMPANY NO: 03925616 (England and Wales) REGISTERED CHARITY NO: 1167455 ## REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE ## YEAR ENDED 31 MARCH 2022 ## FOR ## SOMERSET ART WORKS DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** ## CONTENTS OF THE FINANCIAL STATEMENTS ## For the year ended 31 March 2022 ||Page| |---|---| |Company Information|1| |Report of the Trustees|2| |Independent Examiner’s Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Financial Statements|7| DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** **COMPANY INFORMATION For the year ended 31 March 2022** **DIRECTORS:** P Dixon J Ollis M J Armitage (Co-chair) E S Clay F Yianni (Co-chair) O J Peace B Sterling **SECRETARY:** H Earl **HONARARY TREASURER** : J P Rata **REGISTERED OFFICE:** Town Hall Buildings Bow Street Langport Somerset TA10 9QR **REGISTERED NUMBER:** 03925616 (England and Wales) **INDEPENDENT EXAMINER** : GS Verde Accountants Ltd Maple House 5 The Maples Cleeve Bristol BS49 4FS Page 1 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** ## **REPORT OF THE TRUSTEES** ## **For year ended 31 March 2022** The trustees, who are also directors of the charity for the purpose of the Companies Act 2006, present their report together with the financial statements for the year to 31[st] March 2022. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102. ## **PRINCIPAL ACTIVITY** The principal activity of the company in the period under review was that of promotion of Somerset Art and Artists. As in previous years, the company’s activities have been presented under two headings, Core Activities and Artistic Projects. ## **Core Activities** The company’s core activities are membership, the annual Art Weeks festival and administrative support for artistic projects. It is the board’s intention to realise a surplus from these activities to increase the company’s reserves. For this year, a surplus of £1,460 has been recognised (2021: deficit of £7,331). ## **Artistic Projects** Our Artistic Projects, which are for the benefit of members and the community generally, are all the subject of detailed agreement with their funders. Monies are normally received from funders in advance of the actual expenditure. The unspent money is included in the balance sheet at 31 March 2022 as creditors, namely £110,330 (2021: £97,330). ## **Objectives and Activities** The charity’s objects as set out in the Memorandum and Articles of Association are: To advance education for the public benefit in Somerset in the fields of visual arts including collaborations with other art form in particular but not limited to: - a) placement and bursary opportunities for emerging artists - b) running educational workshops and participatory events to involve new audiences; and - c) other such activities as the trustees see fit from time to time to furtherance of the stated objects ## **Public Benefit** In working towards the company’s charitable objectives, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on The Advancement of Education for the Public Benefit. Our community projects and learning programme are at the heart of our public benefit provision. ## **Equality and Diversity** The organisation believes that diversity is about recognition and valuing of difference in the broadest sense and recognises that people with different backgrounds, skills, cultures, and experiences bring fresh ideas and perceptions that benefit the organisation and all of its stakeholders. Our Equality and Diversity Policy and Action Plan shows how we are working to remove barriers to our programmes and encourage and embed diversity across all areas of the organisations activities. With learning and participation at the core of its charitable aims, The Business Plan provides the framework within which the strategies are employed to achieve he aims and objectives: - To invest in artistic excellence by making professional development for artists an integral part of all our work, promoting imagination and risk in presenting the arts. Page 2 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** ## **Register Charity No: 1167455** - To engage with people of every age and ability within our communities and enrich their appreciation of the arts through participation and learning new skills. - To continue to grow and embed learning throughout all our activities. - To enhance the artistic, cultural, and economic benefits for artists as well as their communities. Our programme revolves around four strands: 1. Professional Development – Developing opportunities for artists and their CPD 2. Public Engagement – Promoting accessibility and excellence in the visual arts. 3. Education – Continue to grow and embed learning throughout all our activities. 4. Art Weeks: Festival (artist led exhibitions, activities, and events) and Somerset Open Studios – Delivering the annual programme celebrating Art is for Everyone. ## **Review of activities and developments in the year** ## **The impact of the programme:** Participation in our programme will support the following: Developing knowledge and understanding of the visual arts Personal progression and achievement Engaging communities and families in life-wide and school learning Developing life skills and confidence Building emotional well-being ## **Reserves** The board believes that a prudent level of reserves is always necessary to enable the charity to meet its statutory obligations and especially in the event if short-term cash flow problems or closure of the charity. The board currently review quarterly the amount of reserves that are required to ensure that they are adequate to fulfil our continuing obligations. Our reserves position: ||Current Year
31 March 2022|Previous Year
31 March 2021|% Increase /
(Decrease)| |---|---|---|---| |Unrestricted Funds (Reserves)|||| |Employee Commitment Fund (to cover unforeseen
employment costs)|9,000|9,000|| |Building Contingency Fund (to cover costs related to
premises e.g., tenancy)|4,000|4,000|| |Development Fund (to enable company to respond to
opportunities that are not included in budgets)|5,000|5,000|| |A Capital Equipment Fund (computers / technical
equipment)|2,000|2,000|| |A General Reserve (four to six months operating
costs to cover eventualities, such as short-term cash
flow problems, sudden loss of funding)|29,260|27,800|| |Restricted / Designated Funds|-|-|| |Total Funds|49,260|47,800|| **Page 3** DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** ## **CHAIRS Report 2021/22** Somerset Art Works has entered into a new arena this year, as the county has developed new strategies for delivering culture across the region. Our Members and the communities we serve have become more focused on the role creativity plays in their lives and in the places they live. In 2021, we must commend our staff for having to reinvent their working lives, delivering programmes of work with a clear alternative of digital instead of actual attendant events. 2021 has heralded adaptation, whilst continuing to sustain and build on core areas of work. Somerset Art Works adapted, reframed and delivered. We remain in a fit financial state, thanks to the judicious reserves we built up prior to the pandemic. But these reserves are now much reduced and we continue to look at ways to reduce our core costs without impacting our workforce or programmes. We were delighted to add to our response to climate change by downsizing our offices at Langport into the ground floor, securing the ability to hire meeting rooms when necessary. We have embraced homeworking, resources for our staff with technology and balancing meetings in person with meetings in Zoom to further reduce our carbon footprint. We thank the team at SAW, Carol Carey, Becky Swaine, Zoe Li, Paul Newman, Emily Lewis and Hannah Earl. Hannah rose to the challenge we faced as an organisation regarding our online offer and created solutions and growth for us in this area so she is now Communication, Environmental and Digital Development Coordinator. Emily Lewin will now take on the role of Membership, Social Media and Project Supporter. Our HR subgroup is working with an HR consultant to refine our organisational structure. Our Trustee’s remain committed to opening up governance to new voices. Liz Clay has asked to stand down from the board and we thank her whole heartedly for her commitment and dedication with which she served us. She will be missed. Jasbinder Bilan SEN teacher and award-winning author has become our YP patron. Our Area Reps continue to represent our members and communicate potential areas of growth and opportunity. We would also like to thank our predecessor Tim Martin for his hard work as Co-Chair. We are working towards diversifying the artists and public that we work with. We stand with the Black community and other BAME communities against all forms of racism, whether overt, insidious or structural, and we encourage our membership to do the same. We will continue to promote our commitment to inclusion and anti-racism in all our work. We are working to an equalities action plan and as a board we review this document at every meeting. Financial resilience, in the wake of the pandemic, is foremost in our minds. We are extending our partnerships and continue to encourage individual giving exploring crowd funding, shop while you buy as well as reviewing our membership offer. Our Community and Commissions this year went ahead tentatively, and yet we still managed to deliver. Thread Bearing Witness. An exhibition of textile work by Alice Kettle at the Rural Life Museum. Priorswood Pollinators, in collaboration with partners developed creative activities for people in North Taunton in the Spring and Summer of 2021, in Lynford Park, at home, and in schools. Quiet Places for Unquiet Minds, delivered an art residency programme for Mind and Wellbeing and engaged communities with a better quality of life. Somerset Open Studios 2021 opened over 300 Somerset Art Works Members in more than 200 studios and spaces across the county. A series of films were made for a selection of members to offer an online experience for audiences that still felt nervous of venturing out. Our fold-out venue map and listings replaced our brochure and also a new App, providing full venue details, including art forms, accessibility information and opening times. The App worked offline providing links to Google Maps, Venue listings, images, and editorial for Evolver magazine. This was met with mixed feelings and we will hold a forum for our members and audiences to discuss the next year. A new initiative for 2021, venue details were also listed on the Visit Somerset website, enabling visitors from outside the county to plan their visit. This year, there was an increased focus on improving access for visitors- information was available in a range of print and digital formats and artists have been doing their best to ask if they can help to make access easier to venues. QR codes helped visitors locate information easily- just scanning the codes would lead to the App or to the Open Studios page on the website. SAW supported and paved the way to return to creativity across Somerset in the safe and known territory of Open Studios, which offered a wide and stimulating palette of art. Page 4 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** ## **Register Charity No: 1167455** We are dedicated to increasing the visibility of our ethnic groups, and exercise diversity, whilst nurturing cultural development within the county and beyond. Our members and the communities of Somerset are who we represent and will continue to deliver excellence within our region and reach out to an International platform to engage and work with us. Our member artists, organisations, partners, staff, trustees, funders and our community make Somerset Arts Works what it is today and we will continue to inspire our society with the gift and transformational qualities art has to offer. Melita Armitage & Freeny Yianni SAW Co-chairs Page 4 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** ## **DIRECTORS** The Directors show below have, unless stated, held office during the whole period from 1 April 2021 to the date of this report: J Ollis M J Armitage E S Clay terminated 30 November 2021 P Dixon F Yianni O J Peace I Langley appointed 8 July 2021 B Sterling appointed 30 November 2021 ## **COMPANY STATUS** The Company is limited by guarantee, has no share capital and is a non-profit making organisation. This report has been prepared in accordance with the special provisions of Part XV of the Companies Act 2006 relating to small companies. ## **ON BEHALF OF THE BOARD** ………………………………….. Melita Armitage – Co-chair ## 13/12/2022 Date……………………………... Page 5 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** ## **Register Charity No: 1167455** ## **Independent Examiner’s Report of the Trustees of Somerset Art Works** I report on the accounts for the year ended 31 March 2022 as set out on pages 5 to 10. ## **Respective responsibilities of trustees and examiner** The trustees (who are also the directors for the purpose of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for the period under review (under section 114(2)) of the Charities Act 2011 and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under Section 145 of the 2011 Act; to follow the procedures laid down in the General Directions given by the Charities Commission (under Section145(5)(b) of the 2011 Act; and state whether particular matters have come to my attention. ## **Basis of the independent examiner’s report** My examination was carried out in accordance with the General Directions given by the Charities Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items of disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statements below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: 1. which gives me cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of Section 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice; Accounting and Reporting by Charities (revised 2015) have not been met; or 2. to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached. Carol Neale AFA GS Verde Accountants Maple House 5 The Maples Cleeve Bristol BS49 4FS 12/12/2022 Date…………………… Page 6 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** ## **Statement of Financial Activities For year ended 31 March 2022** |**Income:**
Donations and legacies
Charitable activities
Investment income
COVID Support grant
**Total income:**
**Expenditure:**
Cost of raising funds
Charitable activities
**Total expenditure**
**Net income/(expenditure)**
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**Funds**
£
-
129,353
1
-
129,354
127,894
-
127,894
1,460
47,800
**49,260**|**Year ended**
**31 March 2022**
**Restricted**
**Funds**
£
1,383
51,377
-
-
52,760
-
52,760
52,760
-
-
**-**|**Total**
**Funds**
£
**1,383**
**180,730**
**1**
**-**
**182,114**
**127,894**
**52,760**
**180,654**
**1,460**
**47,800**
**49,260**|**Year ended**
**31 March 2021**
**Total**
**Funds**
£
977
100,224
1
14,000| |---|---|---|---|---| |||||115,202
(102,816)
(19,717)| |||||(122,533)| |||||(7,331)
55,131| |||||**47,800**| Page 7 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** ## **BALANCE SHEET At 31 March 2022** |Notes
**FIXED ASSETS**
Tangible assets
4
**CURRENT ASSETS**
Debtors and prepayments
5
Cash at bank and in hand
**TOTAL CURRENT ASSETS**
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**RESERVES**
Funds held at 31 March 2021
7
Surplus / Deficit for the year
Expenditure allocated to future
projects
At 31 March 2022|31 March 2022
£
£
237
23,067
176,031
199,098
150,075
49,023
**49,260**
47,800
1,460
-
**49,260**|31 March 2021
£
£
316
3,434
159,636
163,070
115,586
47,484
**47,800**
55,131
(7,331)
-
**47,800**|31 March 2021
£
£
316
3,434
159,636
163,070
115,586
47,484
**47,800**
55,131
(7,331)
-
**47,800**| |---|---|---|---| ||||**47,800**| ||||55,131
(7,331)
-| ||||**47,800**| The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the Company to obtain an audit of the financial statements for the period ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. The Directors acknowledge their responsibilities for: - a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and - b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. 13/12/2022 The financial statements were approved by the Board of Directors on …………………… and signed on its behalf by: ………………………… ……………………… M J Armitage – Co-chair F Yianni – Co-chair Page 8 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022** ## 1. **ACCOUNTING POLICIES** ## **Accounting convention** 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. ## **Basis of Preparation** Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant & Machinery -25% on reducing balance Fixtures & Fittings -25% on reducing balance ## 2. **FUNDS SURPLUS / (DEFICIT)** |The surplus / (deficit is stated after charging:
Depreciation – owned assets
Directors’ emoluments and other benefits|31 March
2022
31 March
2021
£
£
79
105
-
-| |---|---| ## 3. **INVESTMENT INCOME** All the charity’s investment income arises from money held in interest bearing deposit accounts. ## 4. **TAXATION** The charity is exempt from tax on income and gains falling within section 256 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## 5. **TRUSTEES’ REMUNERATION AND EXPENSES** There were no payments to trustees during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered by the charity during the year. Page 9 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** ## **NOTES TO THE FINANCIAL STATEMENTS – continued** **For the year ended 31 March 2022** ## 6. **ANALYSIS OF STAFF COSTS** The average number of persons employed by the charity during the period was as follows: |||2022|2021| |---|---|---|---| ||Full time employees|-|-| ||Part time employees|3|3| |7.|**TANGIBLE FIXED ASSETS**||| |**COST**
At 31 March 2021
Additions
At March 2022
**DEPRECIATION**
At 31 March 2021
Charge for year
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Plant and
machinery
£
8,677
-| |---|---| ||8,677| ||8,361
79| ||8,440| ||237| ||316| 8. **DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Other debtors
Prepayments and accrued income|At 31 March
2022
£
22,750
-
317
23,067|At 31 March
2021
£
250
-
3,184| |---|---|---| |||3,434| Page 10 DocuSign Envelope ID: 68E3EF70-282A-4ABE-84CC-C6D8EAE0E675 ## **Somerset Art Works** **Register Charity No: 1167455** ## **NOTES TO THE FINANCIAL STATEMENTS – continued** **For the year ended 31 March 2022** ## 9. **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Creditors and accruals
Core activities income received in advance
Artistic project income received in advance
**ESERVES**
As at 31 March 2021
Surplus / (deficit) for the period
As at 31 March 2022|At 31 March
2022
£
2,848
36,898
110,330
150,076|At 31 March
2021
£
1,897
16,359
97,330
115,586
Income and
expenditure
account
£
47,800
1,460
49,260| |---|---|---| ## 10. **RESERVES** ## 11. **RELATED PARTY TRANSACTIONS** It is noted that during the year JP Rata Ltd, a company owned by Jonathan Rata the charity’s Honorary Treasurer, provided financial services to Somerset Art Works for which the company was paid fees, on an arm’s length basis, of £5,328. Page 11