||||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)|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|
##