Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2022
for
West Yorkshire Society of Architects
West Yorkshire Society of Architects
Contents of the Financial Statements for the Year Ended 31 December 2022
| Page | |
|---|---|
| Charity Information | 1 |
| Report of the Trustees | 2 |
| Accountants' Report | 4 |
| Statement of Financial Activities | |
| (incorporating Income and Expenditure Account) | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 |
West Yorkshire Society of Architects
Charity Information for the Year Ended 31 December 2022
| TRUSTEES/DIRECTORS: | G Bareham (President) |
|---|---|
| DJ Smith (Hon Secretary) | |
| T Robbins (Hon Treasurer) | |
| JF Howes (Director) | |
| J Thorp (Hon Librarian) | |
| T Dean (Director) | |
| P Jackman (Past president) | |
| MEMBERS: | S Calvert |
| I Curry | |
| B Davies | |
| S Dixon | |
| R Donnelly | |
| K Drummond-Brassington | |
| D Gilhooley | |
| C Ionita | |
| M Larham | |
| D Lumb | |
| R Machell | |
| C Mason-Jones | |
| J Mate | |
| D Millard | |
| J Millard | |
| P Norris | |
| J Orrell | |
| B Pipkin | |
| M Piplica | |
| R Shaw | |
| P White | |
| REGISTERED OFFICE: | 10 High Street, |
| Tadcaster | |
| LS24 9AT | |
| COMPANY REGISTERED NUMBER: | 00021805 (England and Wales) |
| CHARITY NUMBER: | 1177816 |
| ACCOUNTANTS: | Malcolm Jones & Co LLP |
| Accountants and Business Advisors | |
| West Hill House | |
| Allerton Hill | |
| Chapel Allerton | |
| Leeds | |
| West Yorkshire | |
| LS7 3QB |
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West Yorkshire Society of Architects
Report of the Trustees for the Year Ended 31 December 2022
The trustees present their annual report together with the financial statements of the company for the year ended 31 December 2022, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
Structure, Governance & Management
The West Yorkshire Society of Architects is a charity and a private company limited by guarantee (company number 21805). Its governing documents are the Memorandum and Articles of Association.
The trustees are treated as directors for Companies House purposes.
The Society is governed by the Board of Trustees which meets at various times during the year. Its role is to confirm the strategy and set the direction of the Society. It is responsible for monitoring achievements and actual outcomes against its planned objectives.
The Board of Trustees is elected annually by the Members present at the Annual General Meeting (AGM). New trustees are recruited through word of mouth and appointed only until the next following AGM, when they shall be eligible for re-election.
The trustees/directors who have held office during the whole of the period from 1 January 2022 to the date of this report are as follows:
G Bareham T Dean D Gilhooley JF Howes C Ionita P Jackman M Larham (Resigned 16/06/2022) T Robbins DJ Smith J Thorp
Objectives & Activities
The objectives of the Society are:
The advancement of education in art, science, and practice of architecture within the county of Yorkshire for the public benefit, in particular but not exclusively through:
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a) Awarding financial prizes, bursaries, and other awards to those studying architecture.
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b) Organising, running, and funding architectural workshops, competitions, and exhibitions.
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c) In such other ways as the trustees in their absolute discretion shall determine.
Aims, objectives and activities are reviewed annually to ensure they remain focused on our principal objectives. We have referred to the Charity Commission’s general guidance on public benefit when undertaking this review process.
Risk Assessments
The Trustees examine the major risks that the charity faces each quarter when considering their plans and annual budgets. The charity has contracts in place to control these risks and mitigate any impact they may have on the charity’s future.
Financial Review
Incoming resources for the year amounted to £25,251. Total resources expended in the year increased by £10,499 to £19,767 meaning that there were net incoming resources in the year of £5,484. Total unrestricted funds carried forward increased to £498,188 and there were also restricted funds of £22,022 at the year end.
Reserves Policy
The charity’s policy on reserves is to ensure that sufficient unrestricted funds are maintained to enable the charity to continue in the event that there is an unpredicted and/or significant drop in the income levels. The trustees consider that the current level of general reserves meet the requirements of this policy.
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West Yorkshire Society of Architects
Report of the Trustees for the Year Ended 31 December 2022
Statement of Responsibilities of the Trustees/Directors
The charity trustees (who are also the directors for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires that 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 as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure for the financial year. In preparing the financial statements, the members of the management committee are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees/directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The trustees also confirm that they have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance on public benefit published by the Charity Commission.
ON BEHALF OF THE TRUSTEES:
D Smith Dated: 16 May 2023
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Accountants' Report to the Board of Trustees on the Unaudited Financial Statements of West Yorkshire Society of Architects
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of West Yorkshire Society of Architects for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes from the charity's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Trustees of West Yorkshire Society of Architects, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of West Yorkshire Society of Architects and state those matters that we have agreed to state to the Board of Trustees, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Trustees, as a body, for our work or for this report.
It is your duty to ensure that the charity has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of West Yorkshire Society of Architects. You consider that the charity is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of West Yorkshire Society of Architects. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Malcolm Jones & Co LLP Accountants and Business Advisors West Hill House Allerton Hill Chapel Allerton Leeds West Yorkshire LS7 3QB
16 May 2023
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West Yorkshire Society of Architects
Statement of Financial Activities (Including Income and Expenditure Account) for the Year Ended 31 December 2022 (All funds are unrestricted)
| 31.12.22 | 31.12.21 | ||
|---|---|---|---|
| £ | £ | ||
| Notes | |||
| Income | |||
| Rents received | 22,500 | 14,062 | |
| Insurance claims | 2,716 | - | |
| Bank deposit account interest | 35 | 7 | |
| ______ | ______ | ||
| Total Incoming Resources | 25,251 | 14,069 | |
| ______ | ______ | ||
| Expenditure | |||
| Room hire | 1,148 | 320 | |
| Funding Bedford Travelling Scholarship costs (restricted fund) | 4,000 | - | |
| Insurance | 1,043 | 117 | |
| Building repairs & maintenance | 1596 | 2,450 | |
| Sundry expenses | 475 | 155 | |
| Sponsorship | 750 | - | |
| Student awards | 3,400 | - | |
| Sketching awards | 2,000 | 1,900 | |
| Independent examination | 525 | 310 | |
| Accountancy | 1,025 | 896 | |
| Legal fees | 3,805 | 3,120 | |
| _ | _ | ||
| Total Resources Expended | 19,767 | 9,268 | |
| _ | _ | ||
| Net Incoming Resources for the year | 5,484 | 4,801 | |
| Relating to restricted fund | 4,000 | - | |
| _ | _ | ||
| 9,484 | 4,801 | ||
| Total Unrestricted Funds brought forward | 8 | 492,704 | 487,903 |
| _ | _ | ||
| Total Unrestricted Funds carried forward | 8 | 502,188 | 492,704 |
| _ | _ |
These notes form part of the financial statements Page 5
West Yorkshire Society of Architects (Registered number: 00021805)
Balance Sheet 31 December 2022
| Notes FIXED ASSETS Tangible assets 3 CURRENT ASSETS Stocks Debtors 4 Prepayments Cash at bank CREDITORS Amounts falling due within one year 5 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS Unrestricted funds 8 Bedford Scholarship restricted funds 6/8 |
31.12.22 £ 15 - 262 116,504 116,781 6,861 |
£ 414,290 109,920 524,210 502,188 22,022 _ 524,210 _ |
31.12.21 £ 15 11,250 233 94,138 105,636 1,200 |
£ 414,290 104,436 518,726 492,704 26,022 _ 518,726 _ |
|---|---|---|---|---|
The charity is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the charity to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
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The Trustees acknowledge their responsibilities for:
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(a) ensuring that the charity keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charity.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and constitute the annual accounts required by the Companies Act 2006 and for circularization to members of the charity.
The financial statements were approved by the Board of Directors on 16 May 2023 and were signed on its behalf by:
D Smith - Director
The notes form part of these financial statements Page 6
West Yorkshire Society of Architects
Notes to the Financial Statements for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES Basis of Preparation
The financial statements have been prepared in accordance with the ‘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) – Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.
The charity 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 note.
The charity has availed itself of paragraph 3(3) of Schedule 4 of the Companies Act formats to reflect the special nature of the company’s activities.
Preparation of the accounts on a going concern basis
The trustees consider there are no material uncertainties about the charity’s ability to continue.
Company and Charitable Status
The West Yorkshire Society of Architects is a company limited by guarantee, the liability of each member of the company not exceeding £1, and a charity. The company is registered in England. Its Registered Office Address can be found on the Charity Information page.
Financial Reporting Standard Number 1
Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies as a small company.
Fund Accounting
Funds held by the charity are all unrestricted funds, which are funds that can be used in accordance with the charitable objects at the discretion of the trustees.
Incoming Resources
Incoming resources comprise all incoming resources becoming available to the company during the year and includes income from all sources regardless of its source or of the purpose to which it is applied.
All income is reported gross with no setting off of costs or expenses.
Resources Expended
All expenditure is accounted for on an accruals basis.
Tangible Fixed Assets
Tangible fixed assets are capitalised at cost including any incidental expenses of acquisition.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and equipment - 15% on cost
2 EMPLOYEES AND TRUSTEES
The average number of employees/trustees during the year was 9 (2021 – 10).
No employees received emoluments in excess of £60,000 (2021 – none).
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West Yorkshire Society of Architects
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
| 3. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Freehold |
Plant and | ||||
| land and | machinery |
||||
| buildings | etc |
Total | |||
| £ | £ | £ | |||
| COST OR VALUATION | |||||
| At 1 January 2022 | |||||
| and 31 December 2022 | 414,290 | 4,402 | 418,692 | ||
| DEPRECIATION | |||||
| At 1 January 2022 | |||||
| and 31 December 2022 | - | 4,402 | 4,402 | ||
| NET BOOK VALUE | |||||
| At 31 December 2022 | 414,290 | - | 414,290 | ||
| At 31 December 2021 | 414,290 | - | 414,290 | ||
| The freehold land and buildings were revalued in 2005. If they had not been revalued, they would | be included | ||||
| at their cost price of £99,918. | |||||
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.12.22 | 31.12.21 | ||||
| £ | £ | ||||
| Other debtors | - | 11,250 | |||
| 5. | CREDITORS: AMOUNTS FALLING | DUE WITHIN ONE YEAR | |||
| 31.12.22 | 31.12.21 | ||||
| £ | £ | ||||
| Other creditors | 6,861 | 1,200 | |||
| 6. | RESTRICTED FUNDS | ||||
| Balance | Outgoing | Balance | |||
| 01.01.22 | Transfer | Resources | 31.12.22 | ||
| £ | £ | £ | £ | ||
| Bedford Scholarship fund | 26,022 | - | 4,000 | 22,022 | |
| _____ | _____ | _____ | _____ |
This represents a fund set up many years ago to provide scholarship awards for architects. It was previously accounted for separately, but has now been incorporated within the accounts of the charity.
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Restricted fund General fund |
Tangible Fixed Assets Net Current Assets £ £ - 22,022 414,290 87,898 __ ______ 414,290 109,920 __ ______ |
31.12.22 Total £ 22,022 502,188 _ 524,210 _ |
31.12.21 Total £ 26,022 492,704 _ 518,726 _ |
|---|---|---|---|
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West Yorkshire Society of Architects
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
8. RECONCILIATION OF MOVEMENT IN FUNDS
| RECONCILIATION OF MOVEMENT IN FUNDS | ||
|---|---|---|
| Deficit/Surplus for the financial year Opening funds Bedford Scholarship funds introduced Closing funds Realised funds Unrealised funds Bedford Scholarship fund |
31.12.22 5,484 518,726 - _ 524,210 _ 187,816 314,372 22,022 _ 524,210 _ |
31.12.21 4,801 487,903 26,022 _ 518,726 _ |
| 178,332 314,372 26,022 _ 518,726 _ |
- RELATED PARTIES
The Trustees of the Society are considered to be related parties.
No Trustees received remuneration or expenses from the Society during the year ended 31 December 2022 (2021 - £nil).
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