OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Company registration number: CE012638 Charity registration number: 1176237

Chaiya Trust

(A company limited by share capital) Annual Report and Financial Statements for the Year Ended 31 December 2021

Contents

Contents
Reference and Administrative Details 1
Trustees' Report 2 to 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 14

Reference and Administrative Details

Trustees

Ann Clifford Katrina Moss Jordan Martindale Richard Ward

Principal Office

Follys End Everton Road Hordle Lymington SO41 0HE

Company Registration Number

CE012638

Charity Registration Number

1176237

Independent Examiner

Kolade Andrew Alli ACMA 10 Gatcombe Gardens West End Hampshire SO18 3NA

Page 1

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2021.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Foreword from Katrina Moss, Founder

The Chaiya Art Awards is the UK’s largest theme based biennial art awards exploring spirituality through the visual arts, with a top prize of £10,000. Each new theme celebrates inspiring and thought-provoking art and although Chaiya has its roots in Christianity, this competition is open to people of all faiths, to those who have no belief in God, and to everyone in between.

Our second Chaiya Art Awards were booked and ready to go with the Winners exhibition featuring 50 artists taking place 9-19 April 2020. However, when the UK went into lockdown on 23 March 2020, all galleries had to shut according to government guidelines. We had been in constant contact with the OXO gallery and the artists, so we were prepared for this outcome and agreed to postpone until Easter 2021, much to the disappointment of the artists and the Chaiya team who had worked for eighteen months to put the Awards, the Winners exhibition and the accompanying hardback book together.

Page 2

Trustees' Report

COVID RESPONSE

As with many organisations, Chaiya chose to adapt to the changing landscape caused by the Covid Pandemic. We were one of the very early adopters of online gallery software and we commissioned a company in Germany to replicate the OXO gallery in 3D. This enabled us to hold two online exhibitions during 2020 and when the restrictions were finally lifted - to run the 2nd Chaiya Art Awards in the OXO gallery in 2021, so visitors could see the actual artwork in person, but also allowed us to hold the exhibition simultaneously online, for those unable to travel for any reason, increasing our audience.

Objectives and activities

Chaiya’s main operational activity is to advance the Christian faith, for the public benefit, through the provision of art awards which aim to generate and display art that is capable of enlightening the minds of the public, through raising awareness, understanding, promoting or increasing belief in the character and presence of God; to convey to the public, through the exhibition, an idea, emotion or experience of God which is, or capable of being, valuable to them.

Chaiya’s Vision – what we are working towards

Chaiya’s Aims – how we will make it happen

Page 3

Trustees' Report

The financial statements do not include the intangible benefit from the hours donated by volunteers and the dedicated time given by the Trustees of the charity to its governance and management. Chaiya records its sincere appreciation of this benefit.

The trustees review the aims, objectives and activities of the charity each year. This report looks at the charity’s achievements and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to engage. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and performance

The charity's main activities and those it tries to benefit are described below. All its charitable activities focus on delivering our strategic aims and are carried out to further Chaiya Trust’s charitable purposes for the public benefit. The report sets out key achievements delivered through the 3 main areas of activity identified below.

1. ARTIST ENGAGEMENT

2. PUBLIC ENGAGEMENT

3. LASTING LEGACY

ARTIST ENGAGEMENT

During the lead up to the Chaiya Art Awards, we had publicised the new theme of ‘God is …’ to most major art colleges and bible schools in the UK, alongside all the major artists’ online networks. Many websites and social media sites promoted Chaiya including the following:

Page 4

Trustees' Report

COMPETITION ENTRIES

Many of the artists wrote to us of their appreciation for the impetus we provided for them to create new work during this difficult time. They also thanked us for promoting their work online to new audiences, now able to visit the online exhibitions from across the globe.

PUBLIC ENGAGEMENT

The second awards were due to go ahead at Easter 2021, but once again Covid restrictions meant it had to be postponed, but we had provisionally reserved another date and the Winners exhibition finally went ahead at London’s prestigious OXO gallery on the Southbank 14-23 May 2021 and simultaneously online till 31 July, showcasing art on the intriguing theme: ‘GOD is …’

Visitors to ‘GOD is …’ exhibition:

Page 5

Trustees' Report

Just a few comments from our visitors book:

“What a great jewel in the city! Beautiful exhibition and full of joy.”

“Thank you for putting together such a wonderful exhibition! As a person of faith, it’s so interesting to see the different interpretations and perspectives on God!” HG

“Just fantastic. So inspired and has got me thinking about art and faith in new ways. All the pieces are stunning!” BB, London

“Incredibly Moving.” VM, Hertford

LASTING LEGACY

The website now attracts over 50,000 visits every year, with a demographic age spread from 18 to 65+, with people accessing the website from all over England, Scotland, Wales and Northern Ireland and overseas. During the exhibition marketing period the website received over 20,000 hits.

We continue to promote the 'Chaiya Art Awards and the artists work on our website, as well as interviews in the press, on radio, TV and through social media.

Our Press and Publicity material is updated on our website.

Alongside the top prize of £10,000, 9 additional cash prizes were awarded to artists in the Winners Exhibition, which can be viewed on our website.

We also promote the Chaiya Art Awards, the artists and the artwork, through the sale of the accompanying hardback book to each exhibition, which can be bought from our website.

Chaiya Art Awards gave 10% from the exhibition sales of artwork and books to our charity partner UNSEEN UK, to support their work fighting against human trafficking and modern day slavery.

The annual report was approved by the trustees of the charity on 28 January 2022 and signed on its behalf by:

Katrina Moss Trustee

Page 6

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Chaiya Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 28 January 2022 and signed on its behalf by:

Katrina Moss Trustee

Page 7

Independent Examiner's Report to the trustees of Chaiya Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 9 to 14.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Chaiya Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Chaiya Trust 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 accounts 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Chaiya Trust as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

...................................... Kolade Andrew Alli ACMA Chartered Institute of Management Accountants UK

10 Gatcombe Gardens West End Hampshire SO18 3NA

Page 8

Statement of Financial Activities for the Year Ended 31 December 2021

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Statement of Financial Activities for the Year Ended 31 December
2021
(Including Income and Expenditure Account and Statement of
Total Recognised Gains and Losses)		 Statement of Financial Activities for the Year Ended 31 December
2021
(Including Income and Expenditure Account and Statement of
Total Recognised Gains and Losses)
Unrestricted
funds
Total
2021
Total
2020
Note
£
£
£
Income and Endowments from:
Charitable activities
2		 19,605
19,605
12,636
Expenditure on:
Charitable activities
3		 (32,205)
(32,205)
(10,632)
Total expenditure
(32,205)
(32,205)
(10,632)
Net movement in funds
(12,600)
(12,600)
2,004
Reconciliation of funds
Total funds brought forward
28,970
28,970
26,966
Total funds carried forward
8
16,370
16,370
28,970

All of the charity's activities derive from continuing operations during the above two periods.

The funds breakdown for 2020 is shown in note 8.

Page 9

(Registration number: CE012638) Balance Sheet as at 31 December 2021

(Registration number: CE012638)
Balance Sheet as at 31 December 2021		 (Registration number: CE012638)
Balance Sheet as at 31 December 2021
2021
2020
Note
£
£
Current assets
Cash at bank and in hand
6		 17,553
29,744
Creditors: Amounts falling due within oneyear
7
(1,183)
(774)
Netassets
16,370
28,970
Funds of the charity:
Unrestricted income funds
Unrestricted funds 16,370
28,970
Total funds
8
16,370
28,970

For the financial year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 9 to 14 were approved by the trustees, and authorised for issue on 28 January 2022 and signed on their behalf by:

Katrina Moss Trustee

Page 10

Notes to the Financial Statements for the Year Ended 31 December 2021

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Chaiya Trust 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Page 11

Notes to the Financial Statements for the Year Ended 31 December 2021

2 Income from charitable activities

Unrestricted funds

funds
Total Total
General 2021 2020
£ £ £
Sponsorship Income - - 10,000
Income from sale of artwork and exhibition 15,193
15,193
1,536
Income from book sales -
-
99
Other Income 4,412
4,412
1,001
19,605
19,605
12,636

3 Expenditure on charitable activities

3
Expenditure on charitable activities
Unrestricted
funds
Total
Total
General
2021
2020
Note £
£
£
Administrative expenses 473
473
562
Books 2,228
2,228
3,576
Exhibition Costs 2,256
2,256
3,334
Meetings 53
53
173
Marketing 1,198
1,198
354
Balance of payments to Artists for
Art Sold 8,850
8,850
936
Prize money 14,500
14,500
500
Membership 76
76
110
Research 171
171
112
Travel 325
325
15
Gifts to Charity 1,600
1,600
600
Insurance 115
115
-
Independent examiner's fee 360
360
360
32,205
32,205
10,632

Page 12

Notes to the Financial Statements for the Year Ended 31 December 2021

4 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Katrina Moss £408 (2020: £414) of expenses were reimbursed to Katrina Moss during the year.

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year.

5 Taxation

The charity is a registered charity and is therefore exempt from taxation.

6
Cash and cash equivalents
2021
2020
£
£
Cash at bank 17,553
29,744
7
Creditors: amounts falling due within one year
2021
2020
£
£
Other creditors 823
-
Accruals 360
774
1,183
774

Page 13

Notes to the Financial Statements for the Year Ended 31 December 2021

December 2021
8
Funds
Balance at
31
Balance at 1
Incoming
Resources
December
January 2021
resources
expended
2021

£
£

£
£
Unrestricted funds
General
28,970
19,605
(32,205)
16,370
Balance at
31
Balance at 1
Incoming
Resources
December
January 2020
resources
expended
2020

£
£

£
£
Unrestricted funds
General
26,966
12,636
(10,632)
28,970

Page 14