2023-08-31-accounts - Music & Arts For The Shepway Community

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Music and Arts for the Shepway Community Charitable Incorporated Organisation Registered Charity Number 1170602

Trustees Report and Accounts for the year ended

31 August 2023

Music And Arts for the Shepway Community CIO Registered Number 1170602 Trustees Report and Accounts for the year ended: 31[st] August 2022 Contents

Charity Information	2
Introduction	3
Organisation	3
Objectives and activities	3
Achievements and Performance	3
Financial Review	3
Independent examiner's report on the accounts	5
Statement of Financial Activities	7
Balance Sheet	8
Notes to the accounts	9

Music And Arts for the Shepway Community CIO Registered Number 1170602 Trustees Report and Accounts for the year ended: 31[st] August 2023

Charity Information

Address	Ridgewood
	North Lyminge Lane
	Lyminge
	Folkestone
	Kent
	CT18 8EE
Bankers	HSBC
	Ashford
Accountant	Anderson Accounts Ltd
	Mill Meadow
	Tanners Hill
	Hythe
	Kent
	CT21 5UG

Music And Arts for the Shepway Community CIO Registered Number 1170602 Trustees Report and Accounts for the year ended: 31[st] August 2023

Introduction

The trustees present their report and financial statement for the year ending 31[st] August 2023. This report is presented in accordance with the Charities SORP (Statement of Recommended Practice) for FRS 102 which became effective 1 January 2015.

The Charity is a Charitable Incorporated Organisation (CIO). It was established on 7[th] December 2016 to take forward the activities of the registered company, Guildhall Sports and Arts CIC (registration number 07376827) after independent advice around funding possibilities and gift aid.

Organisation

The trustees are:-

Ms Samantha Wraight (chair)

Mr John Garlinge (treasurer) Ms Lauren Meston (resigned June 2022)

Ms Linda Harris

The Members of the CIO are individuals who undertake to act in good faith to further the purposes of the CIO. The affairs of the CIO are managed by the Charity Trustees.

Objectives and activities

The objectives of the organisation are to provide arts services within the Folkestone and Hythe district, primarily focussed on four key demographics – the elderly, children, the disabled and anyone in social or economic deprivation. Where possible, all activities are provided free of charge although donations are encouraged to fund these activities.

Achievements and Performance

In the 2019-20 financial year, the MASC Board set an objective to build the reserves pot up to a level that, together with contributions from its members, would fund the charity for 12 months in the event that external funding could not be obtained. This objective was achieved by the end of that financial year. This pot will only be spent in the event of an emergency.

The charity is still in this position with annual expenditure in 2022-23 being £36,000 and the charity having over £43,000 available in cash.

Financial Review

Year on year income has reduced slightly from £35,946 to £33,087, a decrease of 7%. After all costs have been taken into account, there was a deficit of £3,000 compared to a surplus

of £4,932. This is the first time that the Charity has recorded a deficit. The main factors are a redurtion in grant income and sponsorship, and increased rent costs. Golng Concern Despite the deflcit, it is felt that the CIO is stlll in a strong position. Due to this, the trustees have no concerns about the entity as a going concern. Signed John Garlinge Trustee

Music And Arts for the Shepway Community CIO Registered Number 1170602 Trustees Report and Accounts for the year ended: 31[st] August 2023

Independent examiner's report on the accounts

Report to the trustees of Music and Arts for the Shepway Community on the accounts for the year ended 31st August 2023 set out on pages 7 to 10.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). The charity’s trustees consider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination is needed.

It is my responsibility to: examine the accounts under section 145 of the Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity 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 or disclosures in the accounts, and seeking explanations from the 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 is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

• accounting records were not kept in accordance with section 386 of the Companies Act 2006; or

the accounts do not accord with such records; or
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or

•the accounts have not been prepared in accordance with the Charities SORP (FRS102).

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.

Signed:

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Date: I 'f / 11 / 2 o 23

Ben Weiner ACMA CGMA

Address:

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Music And Arts for the Shepway Community CIO Registered Number 1170602 Trustees Report and Accounts for the year ended: 31[st] August 2023

Statement of Financial Activities

Note Incoming resources 2 Non-exchange transactions Exchange transactions Total incoming resources Resources expended 3 Direct charitable expenditure Administrative expenses Total resources expended Surplus/(deficit) for the year Brought forward from previous year Carried forward 31st August 2023 4	2023 2022 25,965 31,358 7,122 4,588
	33,087 35,946 (31,933) (26,781) (4,154) (4,233)
	(36,087) (31,014) (3,000) 4,932 43,577 38,645
	40,577 43,577

Musk And Arts for the Sl*pwty CnIty QO Reqlstered 14umber 117C602 Tnth Report and Accounts the ar ended.. 31° A¥ust 2023 8alante Sheet 2022 2,455 Current Assets Stock Oebtors Cash at bank and In hand 1.5ixi 2,817 265 44,669 41,822 Credltors: am(wnts lalll due wlthln one year 16.086) (7CQ} N•t Cuffent •sMts 38J83 41,122 Cndltors: amounts f•lll due after one year Net •$ts Charfty Funds Unrestricted Funds 40.5TI 43,577 Total Charlty Fund5 Notrs I to 8 forni part ofthese ac¢tyJnts. Accounts apprtyed by trust¢es J fjarllnÉr Date..

Music And Arts for the Shepway Community CIO Registered Number 1170602

Trustees Report and Accounts for the year ended: 31[st] August 2023

Notes to the accounts

1 Accounting Policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Charities SORP for FRS 102 which came into effect on 1 January 2015. The company has opted to report on a receipts and payments basis.

Turnover

Turnover on sales is recognised when the sales activity has been completed or a donation has been received.

2 Incoming resources

Non-exchange transactions

Donations from clients Grants Other donations Sponsorship Gift aid income Exchange transactions Income from concerts Sales to customers Special events proceeds Interest Received	2023 2022 £ £ 11,760 8,757 7,096 15,012 3,246 246 365 6,609 3,498 734
	25,965 31,358 2023 2022 £ £ 3,831 582 - 165 2,990 3,831 301 10
	7,122 4,588

3 Resources Expended

Direct charitable expenditure

Practitioners Special events costs Venue hire Uniforms Other direct costs Administrative expenses Bank charges Insurance Software Printing costs Depreciation Website Entertainment Admin fees Accountancy fees Other costs 4 Charity funds Brought forward from previous fnancial year Surplus/(defcit for the year) 5 Debtors Trade debtors Gift aid reclaim due from HMRC	2023 2022 £ £ 20,710 22,281 975 445 9,391 1,612 732 1,593 125 850
	31,933 26,781 2023 2022 £ £ 126 80 607 607 1,054 1,269 566 486 1,132 1,104 53 123 - 55 - 88 300 350 316 71
	4,154 4,233 2023 2022 £ £ 43,577 38,645 (3,000) 4,932
	40,577 43,577 2023 2021 £ £ - - 265 2,817
	265 2,817

6 Creditors: amounts falling due within 1 year

2023 2022 £ £ Trade creditors - - Deferred sponsorship income - - Grant - - Other creditors and accruals 6,086 700 6,086 700 7 Creditors: amounts falling due within 1 year 2023 2022 £ £ Deferred Income relating to grant for funding fxed assets - will be ofset against depreciation in following years - - - - 8 Fixed Assets - Cost Ofce Equipment PA Equipment Total £ £ £ Opening Balance 1 Sep 2022 1,799 3,270 5,519 Additions 671 - - Disposals - - - Closing Balance 31 Aug 2023 2,470 3,720 5,519 Fixed Assets - Depreciation Ofce Equipment PA Equipment Total £ £ £ Opening Balance (1,060) (2,004) (3,064) Charge in the Year (387) (745) (1,132) Disposals - - - (1,447) (2,749) (4,196) Total Fixed Assets Closing 1,023 971 1,994 Total Fixed Assets Opening 739 1,716 2,455	2023 2022 £ £ Trade creditors - - Deferred sponsorship income - - Grant - - Other creditors and accruals 6,086 700 6,086 700 7 Creditors: amounts falling due within 1 year 2023 2022 £ £ Deferred Income relating to grant for funding fxed assets - will be ofset against depreciation in following years - - - - 8 Fixed Assets - Cost Ofce Equipment PA Equipment Total £ £ £ Opening Balance 1 Sep 2022 1,799 3,270 5,519 Additions 671 - - Disposals - - - Closing Balance 31 Aug 2023 2,470 3,720 5,519 Fixed Assets - Depreciation Ofce Equipment PA Equipment Total £ £ £ Opening Balance (1,060) (2,004) (3,064) Charge in the Year (387) (745) (1,132) Disposals - - - (1,447) (2,749) (4,196) Total Fixed Assets Closing 1,023 971 1,994 Total Fixed Assets Opening 739 1,716 2,455	2023 2022 £ £ Trade creditors - - Deferred sponsorship income - - Grant - - Other creditors and accruals 6,086 700 6,086 700 7 Creditors: amounts falling due within 1 year 2023 2022 £ £ Deferred Income relating to grant for funding fxed assets - will be ofset against depreciation in following years - - - - 8 Fixed Assets - Cost Ofce Equipment PA Equipment Total £ £ £ Opening Balance 1 Sep 2022 1,799 3,270 5,519 Additions 671 - - Disposals - - - Closing Balance 31 Aug 2023 2,470 3,720 5,519 Fixed Assets - Depreciation Ofce Equipment PA Equipment Total £ £ £ Opening Balance (1,060) (2,004) (3,064) Charge in the Year (387) (745) (1,132) Disposals - - - (1,447) (2,749) (4,196) Total Fixed Assets Closing 1,023 971 1,994 Total Fixed Assets Opening 739 1,716 2,455
		2,470 3,720 5,519 Ofce Equipment PA Equipment Total £ £ £ (1,060) (2,004) (3,064) (387) (745) (1,132) - - -
		(1,447) (2,749) (4,196)
		1,023 971 1,994
		739 1,716 2,455