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2023-12-31-accounts

Charity number: 1176237

CHAIYA TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

CHAIYA TRUST

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 6
Independent Examiner's Report 7 - 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 - 16

CHAIYA TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees

Ann Clifford Katrina Moss Jordan Martindale Richard Ward

Charity registered number 1176237 Principal office Follys End Everton Road Lymington Hampshire SO41 0HE Bankers Santander Bank Plc

Page 1

CHAIYA TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report together with the financial statements of the Chaiya Trust for the year 1 January 2023 to 31 December 2023. The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 December 2021. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2015).

The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

Foreword from Katrina Moss, Founder

Please note that as the awards are usually biennial, the income and expenditure occur over a 2-year period. The awards launch in the Spring of one year, with the winners’ exhibition held the following Spring. So, it is advised to view 2022 and 2023 accounts for 2023 Awards, to see the full income and expenditure. We have always covered all costs if you view the two-year accounts cycle.

Chaiya Art Awards is the UK’s biggest art awards illuminating spirituality with a top prize of £10,000. Our name Chaiya means treasure in heaven. We set up Chaiya Art Awards charity because we are passionate about exploring spirituality for all humanity. This inclusive competition is open to visual artists of all faiths and to those with none. The Chaiya Art Awards occupies a unique space, standing in the public square for arts and faith, presenting new, innovative and immersive ways to illuminate spirituality right in the heart of our capital city.

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

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.

Page 2

CHAIYA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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 remain 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

  1. PUBLIC ENGAGEMENT

  2. LASTING LEGACY

ARTIST ENGAGEMENT

During the lead up to the third Chaiya Art Awards cycle we publicised the new theme of ‘AWE+WONDER’ to most major art schools in the UK, alongside all the major artists’ online networks. Many websites and social media sites promoted Chaiya including the following:

COMPETITION ENTRIES

Comments received from artists:

Absolutely lovely. And the exhibition that you have organised is a total triumph. It was brilliant seeing

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CHAIYA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

such wonderful work with such uplifting spirit. Huge congratulations and also massive thanks. It is a joy and honour to be part of this uplifting, ambitious and beautiful exhibition. JF

What a fantastic achievement is Chaiya Art Awards. The level of organisation, professionalism and sheer determination is phenomenal. Thank you so much for giving me the opportunity to be part of it this year. Over 3000 visitors! I had no idea.....when this work was first installed in St Nicholas' church in New Romney it was probably seen by about 30 people. I did a lot of work on it to make it more robust but hadn't reckoned on that level of throughput - and engagement! It was quite the learning experience and so worth it on many levels. It has renewed my faith in the value of what I do. MJ

I feel so very humbled to have been selected and to have been part of this diverse, thought-provoking and fabulous exhibition. It really did encapsulate Awe and Wonder, and for my painting to be hanging in this exhibition I did feel like I was in very good company! Absolutely mind blowing. Thank you. TH

Totally awe-inspiring. My friend and I were here for hours and loved every minute of it. Pieces were profound, joyous and speaking so movingly and eloquently of the awesomeness of God. Bless you all for this wondrous exhibition. PM, Non-selected artist (and bought a painting)

PUBLIC ENGAGEMENT

The third cycle of the awards went ahead at London’s prestigious OXO gallery on the Southbank 7-16 April 2023. Due to the success of the previous awards, in combination with our desire to promote more artists, we also expanded into an additional five floors of The Bargehouse next to the OXO gallery, which allowed us to offer 14 themed rooms over the two buildings. This provided us the opportunity to showcase not only more artwork, but to include bigger pieces, including a textile forest you could walk through and exciting interactive installations. At the AWE+WONDER EXHIBITION

The public engagement with the art and the exhibition was very high, the Chaiya team of volunteers talked to all 3000+ visitors about the exhibition, with over 2,000 people voting in the Public Choice award for their favourite artwork. You can see more details at

https://chaiyaartawards.co.uk/2023_public_vote/

Just a few comments from our visitors’ book:

It touched my soul, can’t explain why, but there was a feeling of transcendence and a change of consciousness. CS

Loved the exhibition, unexpected and had real depth. MM, Borehamwood

An extraordinary exhibition and an amazing touching experience that overwhelmed, warmed and awed our hearts. Thank you so much, it was the highlight of our day. S&N

The diversity of these artists are epic with this theme of spirituality running through its veins. PC Such an inspiring exhibition. Quiet places to ponder, exciting places to wonder. Thank you so much. AC, London

Loved the exhibition and ended up buying one of the artworks. Thank you! A&S

Fabulous and interactive. Evans family, Staffordshire

Amazing Art. MT, Glasgow

Page 4

CHAIYA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The exhibition is very good. The works have given me the inspiration to create. GY

Enormous variety – challenging pieces that make you think about spiritual things. 2nd time I have been – it is so good. KFS

LASTING LEGACY

Since we launched the Chaiya Art Awards Charity in 2018 we have run three award cycles and delivered: Three national competitions, these 10 day exhibitions were held at the gallery@oxo and expanded in 2023 to include The Bargehouse (16,500 sq metres).

We have displayed 320 artworks; welcomed nearly 12,000 visitors to our exhibitions; awarded £45,000 in prize money; over 5,000 have participated in our public votes; received over 320,000 hits on our website; networked with nearly 8,000 artists who now receive our emails; over 600 theme-based Chaiya hardback books sold. We continue to promote the Chaiya Art Awards, the artists work on our website and social media, as well as interviews in press, on radio, TV and on social media. Our Press and Publicity material is updated on our website, which can be viewed at https://chaiyaartawards.co.uk/press

Alongside the top prize of £10,000, 9 additional cash prizes were awarded to artists in the Winners Exhibition, which can be viewed at: https://chaiyaartawards.co.uk/exhibitions/awe-and-wonder

We are also promote the Chaiya Art Awards, the artists and the artwork, along with thought-provoking prose and poetry which compliments each theme, through the sale of the accompanying hardback book to each exhibition, which is building into a series of books, which can be viewed at https://chaiyaartawards.co.uk/books

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.

FUTURE

Due to recent world events following Covid and the ongoing War in Ukraine, it has been harder to find funding for arts based initiatives. We are currently seeking finances to enable the fourth cycle to progress

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 5

CHAIYA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management

a. Constitution

Chaiya Trust is a registered charity, number 1176237, and is constituted under a Trust deed.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity 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 Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

Approved by order of the members of the board of Trustees on 31 March 2024 and signed on their behalf by:

Katrina Moss

Page 6

CHAIYA TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Independent Examiner's Report to the Trustees of Chaiya Trust ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

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

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

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CHAIYA TRUST
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INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Signed:

Dated: 31 March 2024

Kolade Andrew Alli ACMA

West End Hampshire

SO18 3NA

Page 8

CHAIYA TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Charitable activities
2
Total income
Expenditure on:
Other expenditure
3
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
24,163
24,163
37,690
37,690
(13,527)
14,326
(13,527)
799		 Total
funds
2023
£
24,163
24,163
37,690
37,690
(13,527)
14,326
(13,527)
799		 Total
funds
2022
£
23,678
23,678
25,722
25,722
(2,044)
16,370
(2,044)
14,326

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 11 to 16 form part of these financial statements.

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CHAIYA TRUST

BALANCE SHEET AS AT 31 DECEMBER 2023

Fixed assets
Note
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
6
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
7
Unrestricted funds
7
Total funds		 1,842
1,842
(1,043)		 2023
£
-
799
799
799
799
-
799
799		 14,892
14,892
(566)		 2022
£
-
14,326
14,326
14,326
14,326
-
14,326
14,326

The financial statements were approved and authorised for issue by the Trustees on 31 March 2024 and signed on their behalf by:

Katrina Moss

The notes on pages 11 to 16 form part of these financial statements.

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CHAIYA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

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.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

All expenditure is inclusive of irrecoverable VAT.

1.4 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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CHAIYA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies (continued)

1.5 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

1.6 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

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CHAIYA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Income from donations and legacies

Unrestricted
funds
Total
Total
General
2023		 2022
£
£		 £
Sponsorship Income 12,270
12,270		 10,500
Income from competition entry
fees
0
0		 11,946
Income from book sales 1,038
1,038		 425
Other Income 2,467
2,467		 807
Income from Art Sales 8,388
8,388		 0
24,163
24,163		 23,678

3. Expenditure on charitable activities

Unrestricted
funds
Total
Total
General
2023		 2022
£
£		 £
Administrative expenses 385
385		 355
Books 4,812
4,812		 157
Exhibition Costs 11,646
11,646		 22,135
Meetings 21
21		 0
Marketing 1,266
1,266		 2,039
Prize money 15,000
15,000		 0
Membership 38
38		 38
Travel 240
240		 603
Gifts to Charity 1,000
1,000		 0
Independent examiner's fee 432
432		 360
37,690
37,690		 25,722

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CHAIYA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. Independent examiner's remuneration

2023 2022
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 432 360

4. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 December 2023, expenses totaling £ 836 were reimbursed directly to Katrina Moss (2022 - £566 to . This relates to expenses incurred on behalf of the charity.

5. Creditors: Amounts falling due within one year

2023 2022
£ £
Accruals and deferred income 1,043 566

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CHAIYA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Statement of funds

Statement of funds - current year
Balance at
Balance at 1 31
January December
2023 Income Expenditure 2023
£ £ £ £
Unrestricted funds
General Funds 14,326 24,163 (37,690) 799

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CHAIYA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7. Statement of funds (continued)

Statement of funds - prior year

Balance at
Balance at 31
1 January December
2022 Income Expenditure 2022
£ £ £ £
Unrestricted funds
General Funds 16,370 23,678 (25,722) 14,326

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