SQUARE PEGS ARTS
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
CHARITY NUMBER: 1177858 COMPANY NUMBER: CE006911
SQUARE PEGS ARTS
INDEX TO ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2021
Reference and Administrative Details
Report to the Trustees
Independent Examiners Report to the Trustees
Statement of Financial Activities
Balance Sheet Notes to the Financial Statements
Detailed Statement of Financial Activities
SQUARE PEGS ARTS Reference and Administrative Information For year ended 31st March 2021
The Trustees present their report and the financial statements for the charity for the year ending 31st March 2021.
The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) 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)
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Square Pegs Arts Company number CE006911 Charity registration number 1177858 Principal address The Brook Theatre Old Town Hall The Brook Chatham Kent ME4 4SE
Trustees
The trustees and officers serving during the year and since the year end were as follows
Clara Green Joanne Woollett Claire Kellett Elizabeth Luxford Appointed April 2020 Independent Examiner The Sandwich Accountancy Group Ltd 148 Dover Road Sandwich Kent CT13 0DD
Approved by the Board of Trustees and signed on its behalf by
………………………………………. ………………………………………. Clara Green Date
SQUARE PEGS ARTS Report of the Trustees For year ended 31st March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an Charitable Incorporated Company. It was registered on 6th April 2018.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Statement on public benefit
The Trustees have considered the Charity Commission guidance on public benefit, including the guidance 'public benefit': Running a charity (PB2)',
OBJECTIVES AND ACTIVITIES
The main achievements of the charity, identifying the difference the charity's work has made to its beneficiaries and society as a whole over the last year
Our charitable aims are to provide support for the needs of children, young people and adults with learning disabilities, autism and social communication difficulties by providing drama and arts activities to help their confidence, self-esteem, communication skills, and general wellbeing.
During the year 2020 to 2021, we continued our programme of Drama Groups, Music Workshops and a professional Theatre Company, working with beneficiaries (‘members’) aged between 7 years and 43 years old.
Like all organisations, we had to adapt our programme when the pandemic hit in early 2020. We were able to retain the essence and quality of what we do by carefully thinking through the impact of our adjustments and consulting with our members, staff and volunteers at every stage. We successfully transferred all of our projects to remote delivery and have offered additional support and opportunities to our members and their families through this challenging time.
Over the period we ran five weekly Drama Groups; developed monthly collaborative singing projects; ran a course in sound design, and carried out an extensive research and development project with our Theatre Company on the theme of kindness. We also held online performances and social events.
The way in which Square Pegs Arts has responded to Covid19 has been recognised by The National Lottery Good Causes: our Artistic Director was selected to be part of the Chris Floyd ‘Portraits of the People’ campaign. A parent of one of Square Pegs’ members described our impact as life-changing:
Square Pegs Arts have brought a completely new dimension to my son’s life. It is heart-warming for me to see him develop skills, enjoy being part of a supportive group and gain so much confidence! Square Pegs is an absolute lifeline for us; their support is always amazing and has been highlighted even more during this year of pandemic.
Methods adopted for the recruitment and appointment of new trustees
Square Pegs Arts believes in the importance of a strong, qualified and diverse board. Our Trustees are recruited to represent expertise in relevant skills such as governance, safeguarding and arts management as well as lived experience of disability/ neurodivergence.
Square Pegs Arts must have a minimum of three trustees. Apart from the first Charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. Trustees are recruited via an open recruitment process, and then interviewed by our Artistic Director and the Chair of the Board, before being invited to join the Board, if appropriate.
The charity trustees make available to each new charity trustee, on or before his or her first appointment:
(a)�a copy of the current version of this constitution; and
(b) a copy of the CIO’s latest Trustees’ Annual Report and statement of accounts.
A charity trustee ceases to hold office if he or she:
(a)�retires by notifying the CIO in writing (but only if enough charity trustees will remain in office when the notice of resignation takes effect to form a quorum for meetings);
(b)�is absent without the permission of the charity trustees from all their meetings held within a period of six months and the trustees resolve that his or her office be vacated;
(c)�dies;
(d)�in the written opinion, given to the company, of a registered medical practitioner treating that person, has become physically or mentally incapable of acting as a director and may remain so for more than three months;
(e)�is disqualified from acting as a charity trustee by virtue of sections 178-180 of the Charities Act 2011 (or any statutory reenactment or modification of that provision).
Any person retiring as a charity trustee is eligible for reappointment.
Volunteers
The Charity has a strong volunteer programme and offers development opportunities to those who dedicate their time to volunteer. The volunteers are integral to the running of the organisation, without their dedicated support the projects would not be delivered effectively and impact on the lives of the participants in such a meaningful way. The Trustees would like to thank all the volunteers for their support.
SQUARE PEGS ARTS Financial Review For year ended 31st March 2021
FINANCIAL REVIEW
The Statement of Financial Position 'SOFA' shows the charity's total incoming resources for the year were £107,258 (2020: £73,963). Total resources expended amounts to £94,251 (2020: £77,700). The SOFA reveals a deficit of £13,007 (2020: Deficit £3,737).
The charity's unrestricted funds income for the year amounted to £33,438. and the restricted funds amounted to £73,820.
Financial position
The Charity held fund balances at 31st March 2021 of £49,188. These balances include restricted funds of £37.332.
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.
Principal risks and uncertainties
The trustees conduct regular assessments of the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and we are satisfied that appropriate controls are in place to mitigate our exposure to major risks. These include financial controls which will be reviewed every two years.
Financial risk management objectives and policies
The main financials risks arising from the charity's activities are credit, liquidity, and fraud.
Credit risk
The charity does not hold any material balance sheet positions with regards to donations receivable and so does not consider credit risk a material risk.
Cash flow risk
The Charity Director reports on finances to Trustees on a bi-monthly basis. The board of Trustees signs off major expenditure and signs off the year end accounts. In addition the Treasurer regularly meets with the director to review financial transactions and offer support. The charity understands its cash flow requirements and its policy is to maintain sufficient funds in a liquid form at all times to ensure the charity can meet its liabilities as they fall due. The charity is reliant upen grants and donations for cash flow.
Liquidity risk
The charity does not hold any material day to day liabilities on its balance sheet and always tries to settle any accounts owed to creditors within the credit given.
Price risk
The charity is not subject to any price risk
Reserves policy
The trustees have agreed to ensure there is enough funds in unrestricted reserves to cover 3 months of running costs. Based on average expenditure over the last financial year. This means that £5,945 of free reserves should be retained to ensure the charity has funds in case it needs to close. Trustees will review the need to designate these funds in the next financial year.
Approved by order of the board of trustees on…................................and signed on its behalf by
…..........................................
Trustee
SQUARE PEGS ARTS
Independent Examiners Report to the Trustees
For year ended 31 March 2021
I report to the trustees on my examination of the accounts of the charity for the year ending 31st March 2021.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiners Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act, or
-
the accounts do not accord with those records: or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities 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.
-
there is no further information needed for a proper understanding of the accounts.
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with the followng the Directions of the Charity Commission I have no matters that require drawing to your attention.
……………………………………… Mrs J Wilkinson FMAAT FICB Accountant The Sandwich Accountancy Group Ltd 148 Dover Road Sandwich Kent CT13 0DD
SQUARE PEGS ARTS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2021 (Including Income & Expenditure Account)
| INCOME Notes Income from charitable activities Donations & grants 2 Other trading activities Other trading activities 3 Total income EXPENDITURE Expenditure on charitable activities 4 Total expenses NET MOVEMENT IN FUNDS Funds brought forward Funds carried forward |
Unrestricted fund 2021 £ 32818 620 33438 23783 23783 9655 2201 11856 |
Restricted fund 2021 £ 73820 73820 70468 70468 3352 33980 37332 |
Total funds 2021 £ 106638 620 107258 94251 94251 13007 36181 49188 |
Total funds 2020 £ 73752 211 |
|---|---|---|---|---|
| 73963 | ||||
| 77700 | ||||
| 77700 | ||||
| (3737) 0 |
||||
| (3737) |
All the above results are derived from continuing activities. There are no other gains or losses other than those shown above
SQUARE PEGS ARTS
STATEMENT OF FINANCIAL POSITION
| Notes CURRENT ASSETS Debtors Cash at bank and in hand CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS NET ASSETS The Funds of the Charity General unrestricted funds 8 Restricted funds TOTAL FUNDS |
Unrestricted Fund Restricted Fund £ £ 50 0 16652 37332 16702 37332 4846 0 11856 37332 11856 37332 |
Funds 2021 £ 50 53984 54034 4846 49188 49188 11856 37332 49188 |
Funds 2020 £ 0 36681 |
|---|---|---|---|
| 36681 500 |
|||
| 36181 | |||
| 36181 | |||
| 2201 33980 |
|||
| 36181 |
For the year ending 31st March 2020, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies
The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006
The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime
The financial statements were approved by the board and authorised for issue by the Board and signed on its behalf by
………………………………...……
Clara Green Trustee
Date:…………………………………
SQUARE PEGS ARTS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting Policies Basis of accounting
The financial statements have been prepared under the historical costs convention, in accordance with the Charities (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 1st January 2015).
Square Pegs Arts meets 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(s)
Incoming resources
All incoming resources are included on the Statement of Financial Activity when the Charity is legally entitles to the income and the amount can be quantified with reasonable accuracy
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources
Taxation
The Charity is exempt from tax on its charitable activities
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees
Restricted funds can be used for particular restricted purposes within the objectives of the Charity. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose or project.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements
| 2 Income from donations and legacies Donations & Grants received Memberships received 3 Other trading activities Other activities for generating funds |
Unrestricted fund 2021 £ 28631 4187 32818 Unrestricted fund 2021 £ 620 620 |
Restricted fund 2021 £ 73820 73820 Restricted fund 2021 £ 0 0 |
Total funds 2021 £ 102451 4187 106638 Total funds 2021 £ 620 620 |
Total funds 2020 £ 67088 6664 |
|---|---|---|---|---|
| 77095 | ||||
| Total funds 2020 £ 211 |
||||
| 211 |
| 4 Expenditure on Charitable Actives Project Costs Project Subcontracted Staff Costs Core Freelance Staff Costs Support Costs 5 Analysis of support costs Rent Postage and stationery IT & Software Telecommunications Equipment repairs and maintenance General expenses Accountancy fees Consultancy Legal fees Insurance Staff training 6 Net income/(expenditure) for the year This is stated after charging/(crediting) Accountancy fees 7 Creditors Trade creditors Accruals and deferred income 8 Movement in funds Unrestricted Funds General Fund Restricted Funds Total 9 Unrestricted funds - Previous year Unrestricted Funds General Fund Restricted Funds Total Fund 2019 |
Unrestricted fund 2021 £ 1031 2200 14300 6252 23783 Unrestricted fund 2021 £ 156 163 275 942 948 409 2542 0 200 396 221 6252 Balance at April 2020 £ 2201 33980 36181 £ Balance at April 2019 £ 23019 16899 39918 |
Restricted fund 2021 £ 0 44855 19300 6313 70468 Restricted fund 2021 £ 0 0 0 0 0 0 0 6000 0 0 313 6313 Incoming resources £ 33438 73820 107258 £ Incoming resources £ 33954 40009 73963 |
Total funds 2021 £ 1031 47055 33600 12565 94251 Total funds 2021 £ 156 163 275 942 948 409 2542 6000 200 396 534 12565 Total 2021 £ 2542 2021 £ 3346 1500 4846 Outgoing resources £ (23783) (70468) (94251) £ Outgoing resources £ (54772) (22928) (77700) |
Total funds 2020 £ 9701 30154 33756 4089 |
|---|---|---|---|---|
| 77700 | ||||
| Total funds 2020 £ 571 333 12 710 740 64 500 555 150 454 |
||||
| 4089 | ||||
| Total 2020 £ 500 |
||||
| 2020 £ 500 |
||||
| 500 | ||||
| Balance at March 2021 £ 11856 37332 |
||||
| 49188 | ||||
| £ Balance at March 2020 £ 2201 33980 |
||||
| 36181 |
Purpose of unrestricted funds
Generating income for charitable objectives at the discretion of the Trustees.
10 Taxation
Square Pegs Arts is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities