ANNUAL REPORT
AND
STATEMENT OF ACCOUNTS
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN
(CHARITABLE INCORPORATED ORGANISATION)
CHARITY REGISTRATION NUMBER 1175879
Independent Examiners Ltd
Unit 2
The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN (CHARITABLE INCORPORATED ORGANISATION) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
| Page | |
|---|---|
| Legal and Administrative Information | 3 |
| Trustees' Report | 4 to 12 |
| Independent Examiner's Report on the Accounts | 13 |
| Statement of Receipts and Payments | 14 |
| Statement of Assets and Liabilities | 15 |
| Notes to the Accounts | 16 to 18 |
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN (CHARITABLE INCORPORATED ORGANISATION) LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1175879
START OF FINANCIAL YEAR END OF FINANCIAL YEAR
01 January 2022
31 December 2022
TRUSTEES AT 31 DECEMBER 2022 (All appointed on formation of CIO 31 August 2017-except as noted) MR T J Roberts (Treasurer & Chair Resigned 31 Dec 2022) Dr A McFadyen (Resigned 22 June 2022) Mr D Baird-Murray (Secretary) Mr A Craxford Mr R J Rigby Mr C Rowley Mrs G Bear Miss B Mistry (Resigned 18 October 2021) Miss L Sorrell (Resigned 19 January 2022) Mr W Parrott Mr N Israel Mr J-P Daeschler (Appointed 1 August 2022) Mr J Andrews (Appointed 23 May 22 & resigned 1 August 2022)
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
GOVERNING INSTRUMENT CIO - ASSOCIATION Registered 22 Nov 2017 REGISTRATION DATE 22 November 2017 To advance the education of the public in the craft of hand engraving OBJECTS through education and training. REGISTERED ADDRESS Brook House Homestead Road Edenbridge TN8 6JD PRIMARY BANKERS Metrobank One Southampton Row London WC18 5HA INDEPENDENT EXAMINER Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
3
TRUSTEES’ ANNUAL REPORT FOR YEAR ENDING 31 DECEMBER 2022
Financial Review
| Financial Review | |||||
|---|---|---|---|---|---|
| RECEIPTS | |||||
| Income and Endowments from: | Unrestricted funds | Restricted Funds | Total 2022 | Total 2021 | |
| Grants and Donations | 11,042 £ |
13,450 £ |
24,492 £ |
24,667 £ |
|
| Other tradingactivity- courses | 16,327 £ |
- £ |
16,327 £ |
8,374 £ |
|
| MembershipSubscriptions | 8,444 £ |
- £ |
8,444 £ |
6,599 £ |
|
| Other Income | - £ |
600 £ |
600 £ |
3,000 £ |
|
| 35,812 £ |
14,050 £ |
49,862 £ |
42,640 £ |
||
| PAYMENTS | |||||
| Costs of Charitable Activities | Unrestricted funds | Restricted Funds | Total 2022 | Total 2021 | |
| Charitable Activities - Courses | 12,495.00 £ |
14,733.00 £ |
27,228.00 £ |
4,807.00 £ |
|
| Charitable Actibities - Training | - £ |
3,253.00 £ |
3,253.00 £ |
10,000.00 £ |
|
| Charitable Activities - Events | 915.00 £ |
915.00 £ |
2,831.00 £ |
||
| Administration and support costs | 19,498.00 £ |
19,498.00 £ |
16,510.00 £ |
||
| Website and IT | - £ |
- £ |
838.00 £ |
||
| SundryExpenses | - £ |
- £ |
1,226.00 £ |
||
| Governance costs: | |||||
| Independent Examiner Fee | 840.00 £ |
840.00 £ |
- £ |
||
| Insurance | 235.00 £ |
235.00 £ |
216.00 £ |
||
| 33,983 £ |
17,986 £ |
51,969 £ |
36,428 £ |
The Hand Engravers Associa2on is registered with the Charity Commission as Charitable Incorporated Organisa2on number 1175879
www.handengravers.org.uk
Banking
The Associa4on holds two accounts with Metrobank; No.1 account used for unrestricted funds and No.2 account used for restricted funds such as grants received.
| METROBANK STATEMENT BALANCE | METROBANK STATEMENT BALANCE | METROBANK STATEMENT BALANCE |
|---|---|---|
| 01/01/2022 | 31/12/2022 | |
| No.1 acct | 16,353 £ |
18,183 £ |
| No.2 acct | 15,512 £ |
11,576 £ |
| 31,865 £ |
29,758 £ |
Going Concern
A>er making appropriate enquiries, the Trustees have a reasonable expecta4on that the charity has adequate resources to con4nue in opera4onal existence for the foreseeable future. For this reason, they con4nue to adopt the going concern basis in preparing the financial statements.
general guidance on public benefit when reviewing the Charity's aims and objec4ves and in planning future ac4vi4es.
Reserves
The trustees aim to keep funds to the equivalent of three months’ opera4ng costs in the No.1 account.
The Hand Engravers Associa2on is registered with the Charity Commission as Charitable Incorporated Organisa2on number 1175879
www.handengravers.org.uk
YEAR ENDING 31 DECEMBER 2022
2022 was a busy year for the Associa4on as we sought to move on from the pandemic, returning to in-person courses and more events.
The objec4ves of the Associa4on, as set out in the Cons4tu4on of November 2017, are to work towards the con4nua4on and protec4on of the cra> of hand engraving for the benefit of the public through educa4on and training. To this end, the Associa4on Director, Sally Dodson and Administra4on Manager, Lucinda Rowe supported by the board of trustees, organised a number of events, training courses and ac4vi4es during 2022.
Courses
One of the key aims of the Hand Engravers Associa4on is to provide educa4on and training in the cra>. During 2022 we ran courses on the basic principles of hand engraving, both online and in person, and in person courses in LeUering and Tools Prepara4on. All have been well aUended and received very posi4ve feedback. Our online courses con4nue to aUract an interna4onal audience, with aUendees from Australia, Canada, USA, Japan and Malaysia.
ApprenFceships and Training
In 2022 the Associa4on applied for and received funding to support two trainees:
Clockmakers’ Company
Our thanks go to the Masters, Emmet Smith and Malcolm Appleby, the funders and the dedicated trainees for enabling hand engraving skills to be passed on to the next genera4on.
The Hand Engravers Associa2on is registered with the Charity Commission as Charitable Incorporated Organisa2on number 1175879
www.handengravers.org.uk
It’s About Time – DemonstraFng Engraving in April
The Hand Engravers Associa4on were invited to exhibit at this popular public event organised by the South London Branch of the Bri4sh Horological Ins4tute. With thanks to Dudley Withers for volunteering his 4me to demonstrate engraving on behalf of the Associa4on.
Seal Engraving Course
Wayne ParroU, who was unable to teach the course face-to-face due to Covid restric4ons, developed wriUen learning resources and three step-by-step projects in seal engraving as a basis for the training. The workshop was led by Anastasia Young and Andrew Ashcro>, with live demonstra4ons given by Megan Rigby of Rebus Signet Rings and pre-recorded video demonstra4ons by Wayne. A>er the workshop Wayne assessed and gave individual feedback to each of the seven students.
workshops and specialist equipment, and to the Radcliffe Trust. Without the support from both these organisa4ons this unique project would not have been possible.
Photos above (from le0) – seal engraving students with Anastasia Young (course leader) and Sally Dodson (Associa?on Director), a seal being tested, Noriko with her seal.
Members Drinks in May
At our New Years Drinks Get-together (which was delayed un4l May) we were delighted to welcome special guests, Tamara Gomez and Banita Mistry. Tamara gave an insight into what it was like taking part in the first series of BBC2's "All That GliUers: Britain's Next Jewellery Star" series, in which she was a finalist. Banita talked about the Goldsmiths Cra> and Design Council Awards. As a consultant to GCDC she is part of the organising team for the awards, and we enjoyed hearing about what is involved in pulling everything together and it inspired many members to enter the 2022/23 compe44on.
The Hand Engravers Associa2on is registered with the Charity Commission as Charitable Incorporated Organisa2on number 1175879
www.handengravers.org.uk
AGM and Tessa Murdoch at the Royal Academy of Arts in June
We were privileged to be able to hold our AGM for 2022 in the pres4gious surroundings of the Royal Academy in Piccadilly. More than 60 members and guests joined us and were treated to a fascina4ng talk by Dr Tessa Murdoch on "Huguenots, Horology and Engravers in London 1680-1760". The evening also featured demonstra4ons from professional engravers Dudley Withers and Colin Mabey and pop-up displays of engraved clocks and watches by David Wood-Heath and Richard Stuart.
At the AGM Tim Roberts, Chair and Ac4ng Treasurer of the Associa4on, announced his inten4on to step down from the Board at the end of the year in order to devote more 4me to his other charitable commitments. Tim has been an invaluable member of the Board for many years and is very much missed. We wish him well for the future.
Our thanks go to our Trustee and Patron, Chris Rowley and Carl Hitchcock at the Royal Academy of Arts for organising this amazing venue for our AGM and event.
Photos clockwise from top le0: Dr Tessa Murdoch speaking at the AGM; the room set up for demonstra?ons and displays; the audience at the talk in the grand surrounds of the Royal Academy.
The Hand Engravers Associa2on is registered with the Charity Commission as Charitable Incorporated Organisa2on number 1175879
www.handengravers.org.uk
InternaFonal Symposium
One of the highlights of our year was the Interna3onal Hand Engraving Symposium hosted by Dr Malcolm Appleby MBE at his workshop in Perthshire, Scotland. Around 30 members of the Associa3on aGended and enjoyed three days of engraving in the beau3ful and convivial environment. It was an ac3on packed few days with opportuni3es to try bronze cas3ng and tour the gunmakers, John Dickson and Son.
Photos above (from le0) – Malcolm Appleby (credit Andrew Ashcro0), bronze cas?ng (credit Andrew Ashcro0), engraving (credit Kyle Howie), Vikkii Chen (credit Kyle Howie)
Visits to Clockmakers Museums and Clockworks
Museum at the Science Museum where we were given a tour led by the curator, Anna Rolls. Our second members only day out was to The Clockworks in West Norwood where Dr James Nye, then Master of the Worshipful Company of Clockmakers, showed us around his fascina4ng museum and workshop. A>er lunch six engravers stayed on in the workshop to try their hands at engraving a watch dial.
Photos above (from le0) – Dr James Nye at Clockworks, in the workshop at Clockworks, the Paperweight Collec?on at the Clockmakers Museum, Anna Rolls – curator of the Clockmakers Museum.
The Hand Engravers Associa2on is registered with the Charity Commission as Charitable Incorporated Organisa2on number 1175879
www.handengravers.org.uk
GreeFng card compeFFon with Baddeley Brothers
In the summer we were excited to be able to hold, once again, a Gree4ng Card Design Compe44on in conjunc4on with specialist printers, Baddeley Brothers.
The winner of the compe44on was Megan Rigby, who visited the Baddeley Brothers print workshop in November to see her design being printed. John Cook and Anna Olafsson were commended for their designs.
We are very grateful to Charles Pertwee and everyone at Baddeley Brothers for their support of this compe44on.
Photos above (from le0) – Charles Pertwee, Director of Baddeley Brothers, and Megan Rigby, Megan’s winning design, the cards being printed, the workshop floor at Baddeley Brothers
Clock and Watch Engraving Compe55on
in partnership with the Worshipful Company of Clockmakers and with a prize sponsored by HS Walsh.
Photos above (from le0) – the entries from Ibrahim Batchelder, John Farman, John Cook
The Hand Engravers Associa2on is registered with the Charity Commission as Charitable Incorporated Organisa2on number 1175879
www.handengravers.org.uk
Patrons
The Associa4on is supported by a small number of wonderful and generous Patrons, and we would like to take this opportunity to say a huge thank you to Sir George and Lady White, Chris and Anna Rowley, John Dickson & Son and the ACH Crisford Charitable Trust for their support.
As a token of our apprecia4on, each year our Patrons are presented with a "Patron Pin", a very limited edi4on piece only available to our Patrons. Every year has a different design by a different engraver; the 2022 pins were designed and engraved by Megan Rigby.
(photo le0 – one of the pins engraved by Megan Rigby)
We really are extremely grateful to all our Patrons. Without their support the Associa4on would not be able to operate.
Funding and Support
Once again, we have been very generously supported through the year. Megan Rigby’s three-year appren4ceship to Rebus Signet Rings is coming to an end and we are all very grateful to the Portal Trust who have provided the funding. The Goldsmiths Centre and the Radcliffe Trust kindly supported the Seal Engraving Course; without their support it would not have been possible.
Trustees
Tim Roberts stepped down from trustee du4es in 2022 as well as trustee (and former Chair) Angus McFadyen. A huge thank you to them both for their support of the Associa4on over the years. Member and supporter John Andrew became a trustee in 2022 but had to step down shortly a>erwards due to unexpected increase in other charitable commitments. John remains a keen supporter of the Associa4on and is working closely with us to organise an exhibi4on of hand engraving in Yorkshire this summer. In 2022 we were delighted to welcome J-P Daeschler as trustee and in 2023 we are delighted to welcome another two new trustees to the Board, Jeffrey Lassaline and Jo Price.
Looking forward
2023 is promising to be another exci4ng year for the Associa4on. We are thrilled to be able to hold our AGM in Birmingham, and we are looking forward to our upcoming exhibi4on at Tennants in Leyburn, Yorkshire in the Summer, members visit to John Rigby and members visit to a private engine turning collec4on in September. We are also thrilled that Baddeley Brothers have agreed to partner another Gree4ng Card Compe44on to support and promote copperplate engraving.
The Hand Engravers Associa2on is registered with the Charity Commission as Charitable Incorporated Organisa2on number 1175879
www.handengravers.org.uk
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN (CHARITABLE INCORPORATED ORGANISATION) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
Report to the trustees/ members of The Hand Gravers Association of Great Britain on the accounts for the year ended 31st December 2022.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities 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 matter has come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 23rd October 2023
13
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
| Notes RECEIPTS Donations & Legacies 3b TOTAL RECEIPTS Costs of Charitable Activities 4 TOTAL PAYMENTS NET INCOMING/(OUTGOING) RESOURCES 5 Balances Brought Forward BALANCES CARRIED FORWARD TRANSFERS BETWEEN FUNDS NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: |
Unrestricted Restricted Total Total Funds Funds 2022 2021 £ £ £ £ 35,812 14,050 49,862 42,640 |
|---|---|
| 35,812 14,050 49,862 42,640 |
|
| 33,983 17,986 51,969 36,428 |
|
| 33,983 17,986 51,969 36,428 |
|
| 1,830 (3,936) (2,107) 6,212 - - - - |
|
| 1,830 (3,936) (2,107) 6,212 |
|
| 18,100 13,766 31,865 25,654 |
|
| 19,929 9,829 29,758 31,865 |
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages 16 to 18
14
| Unrestricted | Restricted | Total | Total | Total | |
|---|---|---|---|---|---|
| Fund | Fund | 31-Dec-22 | 31-Dec-21 | ||
| £ | £ | £ | £ | ||
| Cashatbankandinhand | |||||
| Metro Bank no 1_Ne_ | 8,354 | 9,829 | 18,183 | 16,353 | |
| Metro Bank no 2_Ne_ | 11,576 | 11,576 | 15,512 | ||
| 19,929 | 9,829 | 29,758 | 31,865 | ||
| TOTALCURRENTASSETS | 19,929 | 9,829 | 29,758 | 31,865 | |
| NETCURRENTASSETS | 19,929 | 9,829 | 29,758 | 31,865 | |
| TOTALASSETS lesscummtliabilities | 19,929 | 9,829 | 29,758 | 31,865 | |
| NetAssets | 19,929 | 9,829 | 29,758 | 31,865 | |
| Representedby: | |||||
| General Funds | 19,929 | 19,929 | 18,100 | ||
| Restricted Funds | 9,829 | 9,829 | 13,766 | ||
| 19,929 | 9,829 | 29,758 | 31,865 | ||
| OtherAssets | |||||
| HMRC- Gift Aid | 1,393 | 1,393 | 750 | ||
| 1,393 | 1,393 | 750 | |||
| Liabilities | |||||
| IndependentExaminer'sFee | 870 | 870 | 840 | ||
| 870 | 870 | 840 |
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
1. BASIS OF ACCOUNTING
The accounts have been prepared under the “Receipts and Payments” basis as prescribed by the Charity Commissioners, and they meet the appropriate legal requirements.
The Charitable Incorporated Organisation (CIO) 1175879 was registered on 22 November 2017, to continue the work of the unregistered membership association known as the Association of Hand Engravers of Great Britain which had been established more than 10 years earlier. The net assets of the previous body were transferred on 1 January 2018 and the charity was recognised as the successor of the previously unregistered body. These Financial Statements cover the year to 31 December 2022.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest pound. The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Fund Accounting
Funds held by the charity are either:
-
Unrestricted Funds - these are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
-
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or
- Restricted Funds - these are funds that can only be used for particular restricted purposes within the objects of the charity.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Incoming Resources
All income is included in the accounts when actually received by the Charity.
Resources Expended
Resources expended are recognised when paid by the Charity.
2. TANGIBLE FIXED ASSETS
The Charity held no fixed assets investments during this or the previous financial period.
This page does not form part of the statutory financial statements
16
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
3. RECEIPTS
| Note 4. PAYMENTS Note a) Costs of Charitable Activities Income and Endowments from: Grants and Donations Other trading activity-Courses Membership Subscriptions Other Income Charitable Activities-Courses for members Charitable Activities-Training Charitable Activities-Events Administration and support costs Website and IT Sundry Expenses Governance costs:- Independent Examiner Fee Insurance |
Unrestricted Restricted Total Total Funds Funds 2022 2021 £ £ £ £ 11,042 13,450 24,492 24,667 16,327 - 16,327 8,374 8,444 - 8,444 6,599 - 600 600 3,000 |
|---|---|
| 35,812 14,050 49,862 42,640 |
|
| Unrestricted Restricted Total Total Funds Funds 2022 2021 £ £ £ £ 12,495 14,733 27,228 4,807 - 3,253 3,253 10,000 915 - 915 2,831 19,498 - 19,498 16,510 - - - 838 0 - 0 1,226 840 - 840 - 235 - 235 216 |
|
| 33,983 17,986 51,969 36,428 |
WITH THANKS:
Grants received from The Portal Trust (2019-2022) to support the traineeship of Megan Rigby at Rebus Signet Rings.
Grant received from The Clockmakers' Company (2021) to support the traineeship of Anna Olafsson with Malcolm Appleby.
Grants received from The Radcliffe Trust (2022) and The Goldsmiths' Centre (2021) to support the Seal Engraving Project.
Grant received from The Goldsmiths' Company (2021) to support Training the Trainers III project.
This page does not form part of the statutory financial statements
17
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| Clockmakers Company (SJCF) Portal Trust Goldsmith's Company GC TRT Seal Engraving |
Balance Gains & Balance 01-Jan-22 Income Expenditure (Losses) Transfer 31-Dec-22 £ £ £ £ £ 2,320 - (2,500) - - (180) 844 6,400 (753) - - 6,491 10,602 - (650) - - 9,952 - 7,650 (14,083) - - (6,433) |
|---|---|
| 13,766 14,050 (17,986) - - 9,829 |
In the year there were costs for an apprentice paid to the training master of £753 (2021 - £10,000) which were expended from grants received from the Sir John Cass Foundation for this purpose. it is listed as The Portal Trust but this is the new name for what was the Sir John Cass's Foundation. It is part of the same three year grant 20192022 - Megan Rigby training at Rebus. (NB due to Covid the finish was extended into 2023)
PREVIOUS FINANCIAL YEAR
| Clockmakers Company (SJCF) Portal Trust Goldsmith's Company |
Balance Gains & Balance 01-Jan-21 Income Expenditure (Losses) Transfer 31-Dec-21 £ £ £ £ £ - 3,000 (380) - (300) 2,320 2,844 8,900 (10,000) - (900) 844 1,302 9,300 - - - 10,602 |
|---|---|
| 4,146 21,200 (10,380) - (1,200) 13,766 |
The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
This page does not form part of the statutory financial statements
18
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
6. STAFF COSTS AND NUMBERS
The CIO employed no members of staff but had the services of an administrator on a part time basis who invoiced their services on a time basis.
| 31-Dec-21 Transfers 31-Dec-22 7. ANALYSIS OF FUNDS Funds brought forward at Plus: Net gain for the period Total Funds at the end of the period These funds at Cash at Bank Other Net Liabilities (Current assets less liabilities) Net Assets |
Unrestricted Restricted Total Funds £ £ £ 18,100 13,766 31,865 1,830 (3,936) (2,107) - - - |
|---|---|
| 19,929 9,829 29,758 |
|
| 19,929 9,829 29,758 - - - |
|
| 19,929 9,829 29,758 |
8. TRUSTEES AND OTHER RELATED PARTIES
None of the Trustees have been paid remuneration for acting as a Trustee, also no trustees claimed expenses during the period.
(2021 - None)
The only related party transactions during the year were:-
-
Angus McFadyen, a trustee, carried out training for the Association and £1,979 (2021 - £3,750) is included in the cost of courses for this. He resigned 22 June 2022.
-
Wayne Parrott, a trustee, carried out Filming, editing, remote feedback to students and developing new course structure and notes for the Association and £3,900 (2021 - £nil) is included in the cost of courses for this.
-
Unrestricted donations of £2,540 (2021 - £3,000) made up of £2,500 from Trustee Chris Rowley & £40 from Trustee Griselda Bear during the period.
No other payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
9. TAXATION
The charity is exempt from tax on its charitable activities.
10. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
11. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
19
THE HAND ENGRAVERS ASSOCIATION OF GREAT BRITAIN (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
12. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
This page does not form part of the statutory financial statements
20