2023-03-31-accounts - Gloucester Culture Trust

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			Page
Legal and Administrative		Information
Report ofthe	Trustees		2 to 3
Independent	Examiner's	Report
Statement of	Financial	Activities
Balance Sheet
Notes to the Financial Statements			7to11

Trustees		Clair Greenaway (Appointed	Clair Greenaway (Appointed	Clair Greenaway (Appointed	Clair Greenaway (Appointed		Interim	Interim	Chair March 2023)
		S.Marston
		N. Hopwood	(Stepped down				as Interim		Chair back to Trustee March 2023)
		T.Attwood
		M. Edwards
		Cllr A. Lewis
		Hannah Brady (Appointed				Dec 2022)
		Amy Belson-Read		(Appointed				Dec 2022)
		Jennifer Taylor (Appointed				Dec 2022)
		Esther Croft	(Appointed		Dec		2022)
		Jessica Gibbs	(Appointed		Dec			2022)
		J.Adler (resigned August			2022)
		A. Qureshi (passed		away	Nov			2022)
		J.Fayter (resigned		Feb 2023)
Charity number		1177489
Registered	office	Jolt, First Floor Kings House
		27 St Aldate	street
		Gloucester
		GL1 1RP
Independent	examiner	iLex Accountancy		Services		Ltd
		41 Brunswick	Road
		Gloucester
		GL1 1JS
Bankers		CAF Bank Limited
		25 Kings Hill	Avenue
		Kings Hill
		West Mailing
		Kent
		ME194JQ

						Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
						funds	funds		funds	funds
						2023	2023	2023	2022	2022	2022
					Notes	f	f	f	f	f	f
Income from:
Donations	and	legacies			3	23,721	49,250	72,971	172,975	244,858	417,833
Charitable	activities					41,663		41,663	25,882		25,882
Other						142		142	5,001	1,655	6,656
						65,526	49,250	114,776	203,859	246,513	450,372
~Edit
Charitable	activities				4	144,663	60,024	204,687	183,314	219,089	402,403
Other					7	9,323	179	9,501	8,551	932	9,483
Total resources		expensed				153,986	60,202	214,188	191,865	220,022	411,886
Net (expenditure)/income			for the year/Net	movement	in funds	(88,460)	(10,952)	(99,412)	11,994	26,491	38,485
Gross transfers		between	funds			87,476	(87,476)
Fund balances		at 1April 2023				71,103	133,282	204,384	59,109	106,790	165,899
Fund balances		at31March 2023				70,119	34,853	104,973	71,103	133,282	204,384

					2023		2022
		Notes		E	E		E
Fixed assets
Tangible assets						5,140		8,793
Current assets
Debtors			9		37,756		23,451
Cash at bank and in	hand				64,500		172,140
					102,255		195,591
Creditors: amounts	falling due within one year		10		(2,423)
Net current assets						99,833		195,591
Total assets less current liabilities						104,972		204,384
Income funds
Restricted funds						34,853		133,282
Unrestricted funds						70,119		71,103
						104,973		204,384

Notes to the Financial Statements	Notes to the Financial Statements
for	the Year Ended 31March 2023
1.	Accounting policies
	Charity information
	Gloucester Culture Trust is a charitable	incorporated organisation registered		with		the Charity Commission			in	England			g	Wales.
	The registered office is Jolt, First Floor	King's House, 27 Aldate Street, Kings		Square, Gloucester, GL1 1RP.
1.1	Accounting convention
	The financial statements have been prepared in		accordance with the trust's	governing document,				the Charities Act 2011and "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 (FRS102)" (as amended for accounting					periods commencing			from January 2016).The							trust is a Public
	Benefit Entity as defined by FRS102.
	The trust has taken advantage ofthe provisions		in the SORP for charities applying			FRS 102 Updated		Bulletin		1	not	to prepare a Statement						of		Cash Flows.
	The financial statements 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 Statement of Recommended			Practice		for charities applying				FRS 102			rather than			the version				ofthe
	Statement ofRecommended Practice	which is referred to in the Regulations,		but	which has since been withdrawn.
	The financial statements are prepared	in sterling,	which is the functional currency			ofthe	trust. Monetary		amounts			in these			financial		statements				are
	rounded to the nearest E.
	The financial statements have been prepared under the historical cost convention.					The principal accounting				policies adopted are set out								below.
1.2	Going concern
	At the time of approving the financial statements,		the trustees have a reasonable		expectation that			the trust		has adequate					resources		to continue in
	operational existence for the foreseeable future.		Thus the trustees continue	to adopt the			going concern basis				ofaccounting				in preparing			the		financial
	statements.
1.3	Charitable funds
	Unrestricted funds are available for use at the discretion ofthe trustees in the furtherance						oftheir	charitable			objectives.
	Restricted funds are subject to specific	conditions	by donors as to how they	may	be used.		The purposes and			uses		ofthe		restricted		funds		are		set out in
	the notes ofthe financial statements.
1.4	Incoming resources
	Income is recognised when the trust is legally entitled to it after performance			conditions			have been met,		the	amounts			can		be measured reliably, and it is
	probable that income will be received.
	Cash donations are recognised on receipt. Other		donations are recognised once the trust				has been	notified ofthe				donation,			unless		performance
	conditions require deferral ofthe amount.
1.5	Expenditure
	Liabilities are recognised as expenditure	as soon	as there is a legal or constructive			obligation committing			the	charity to that					expenditure,			it	is	probable
	that settlement will be required and the amount		ofthe obligation can be measured			reliably.
	All expenditure is accounted for on an	accruals basis. All expenses including		support costs			and governance		costs are allocated to the applicable
	expenditures headings.
1.6	Tangible fixed assets
	Tangible fixed assets are initially measured at cost and subsequently measured at				cost or		valuation,	net ofdepreciation						and any impairment						losses.
	Depreciation is recognised so as to write offthe cost or valuation ofassets, less their residual values over								their		useful		lives on the following						bases:
	Fixtures and fittings		2096straight line
	Office Equipment		25% straight line
	The gain or loss arising on the disposal	of an asset is determined as the difference				between the sale proceeds					and	the	carrying value				ofthe		asset, and is
	recognised in net income/(expenditure)	for the year.

		Unrestricted	Restricted
		funds	funds	Total	Total
		2023	2023	2023	2022
				E	E
Grant funding		23,721	49,250	72,971	406,929
Partner Contributions					5,304
Sponsorship					5,600
Jolt		41,663		41,663	25,882
Interest Earned		142		142
Other					6,656
		65,526	49,250	114,776	450,371
Forthe year ended 31March 2022			450,371		450,371
Supported	by the following funders				E
NLHF via GCC					43,943
Paul Hamlyn	Foundation				63,000
Arts Council		7,971		7,971	173,884
Gloucester	City Council	15,000		15,000	63,750
Gloucester	Quays				237
Gloucester	County Council	750	4,250	5,000
Historic England			45,000	45,000	55,000
Kickstart 2021					7,115
Partner Contibutions					5,304
Sponsorship					5,600
Jolt		41,663		41,663	25,882
Interest Earned		142		142
Other					6,656
		65,526	49,250	114,776	450,371

			Charitable	Charitable
			Expenditure	Expenditure
			2023	2022
			E
Staffcosts			115,926	138,080
Depreciation		and impairment	3,654	5,338
Marketing	support			300
Fundraising		services		5,409
Jolt costs			16,989	21,052
Partners fees			43,150	149,894
Other Creative Activities				29,135
Subcontractors			24,968	53,196
			204,687	402,403
			204,687	402,403
Analysis by		fund	2023	2022
Unrestricted		funds	144,663	183,314
Restricted funds			60,024	219,089
			204,687	402,403

Employee Costs	Employee Costs
Number ofemployees
The average	monthly	number ofemployees	during the year was:			2023	2022
						Number	Number
						4	4
Employment	costs					2023	2022
						E	E
Wages and salaries						105,951	127,967
Social security costs						5,433	6,265
Other pension costs						4,542	3,848
						115,926	138,080
Other
				Unrestricted	Restricted
				funds	funds	Total	Total
				2023	2023	2023	2022
						E	E
Professional	fees						95
Accountancy	fees			4,628		4,628	3,339
Insurance
Financing costs				72		72	96
Other expenditure				4,623	179	4,801	5,953
				9,323	179	9,501	9,483
Forthe year	ended 31March 2022			8,551	932		9,483
Tangible fixed assets
				Fixtures and	Office
				fittings	equipment	Total
				E	E	f
Cost
At 1April 2022				8,574	17,764	26,338
Additions
At 31March	2023			8,574	17,764	26,338
Depreciation	and impairment
At 1April 2022				5,145	12,400	17,545
Depreciation	charged	in the year		1,715	1,939	3,654
At 31March	2023			6,859	14,339	21,198
Carrying amount
At 31March	2023			1,715	3,425	5,140
At 31March	2022			3,429	5,364	8,793
Debtors
						2023	2022
						E	E
Amounts falling due within one year:
Trade debtors						37,275	23,261
Other debtors						481	190
						37,756	23,451

Creditors
			2023	2022
				E
Amounts	falling due	within one year:
Trade creditors
Other creditors
Accruals	and deferred	income	2,423
			2,423

			Balance at	Incoming	Resources	Transfer to	Balance at
			1April 2022	resources	expended	Unrestricted	31March 2023
			E		E		E
Donated assets (via GCC)			8,154				8,154
Great Place	Funding	(via GCC)	28,842			-28,842
Arts Council			-753				-753
Gloucester	City Council		-9,862		2,000		-11,862
Gloucester	Quays		-1,120				-1,120
Barnwood Trust			-239				-239
Active Gloucestershire			-182				-182
Gloucester	County Council		1,000	4,250	4,250		1,000
Paul Hamlyn	Foundation		64,573		20,002	-44,571
Historic England			19,500	45,000	31,900		32,600
Kickstart 2021			7,115			-7,115
Partner Contributions			5,304		2,050	-3,254
Sponsorship			5,600				5,600
Other			1,655				1,655
			129,587	49,250	60,202	-83,782	34,853

Analysis ofnet assets between funds
		Unrestricted	Restricted	Total
		funds	funds
		2023	2023	2023
		E	E	E
Fund balances at31March 2023are represented	by:
Tangible assets		-3,014	8,154	5,140
Current assets/(liabilities)		73,133	26,700	99,833
		70,119	34,853	104,972
		Unrestricted	Restricted	Total
		funds	funds
		2022	2022	2022
			E	E
Fund balances at31March 2022 are represented	by:
Tangible assets		640	8,154	8,793
Current assets/(liabilities)		74,157	121,434	195,591
		74,797	129,587	204,384