Docusign Envelope ID: 130D54A2-C16F-42E1-9A56-AFD2FABA48A0
SQUARE PEGS ARTS
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CHARITY NUMBER: 1177858 COMPANY NUMBER: CE006911
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SQUARE PEGS ARTS
INDEX TO ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2024
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
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SQUARE PEGS ARTS Reference and Administrative Information For year ended 31st March 2024
The Trustees present their report and the financial statements for the charity for the year ending 31st March 2024.
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 Elizabeth Luxford Alice Linnane Amie Agapito
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
31/01/25
………………………………………. ………………………………………. Clara Green Date
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SQUARE PEGS ARTS Report of the Trustees For year ended 31st March 2024
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
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 this year we continued our programme of Drama Groups, Music projects, Accessible Film Club, Theatre Company, strategic and partnership projects. All of our work is with Learning Disabled, autistic and neurodivergent children, young people and adults. This includes:
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8 Drama Groups in 4 locations across Kent: 240 workshops and 12 performances, working with 72 young people
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10 workshops and 2 performances with our Singing Group of 20 participants
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2 holiday music projects working with total of 16 participants
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48 Performing Arts workshops and 8 performances at Spadework Charity
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38 workshops/rehearsals and 1 showcase with our Theatre Company of 11 Disabled Artists
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12 Accessible Film Screenings/events with an average of 35 audience/participants
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30 Dramatherapy sessions with 12 beneficiaries
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26 songwriting sessions, working with over 60 partner organisations and 200 young people from all 13 districts of Kent and Medway to write and record an album of 13 original songs (Kent Album Project)
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5 Young Music Ambassadors learned leadership skills and completed Arts Awards (Kent Album Project)
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1 album launch event with 250 attendees (Kent Album Project)
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2 paid Traineeships initiated as part of National ‘Transforming Leadership’ programme led by Access All Areas
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1 Inclusive/Accessible Arts conference (Elevate), comprising 17 events, supporting 424 Disabled Artists, practitioners, and participants, delivered in partnership with University of Kent
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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:
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(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);
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(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 re-enactment 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. This year we worked with 18 volunteers, who all completed Safeguarding and Makaton training. The Trustees would like to thank all the volunteers for their continuous hard work and support.
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SQUARE PEGS ARTS Financial Review For year ended 31st March 2024
FINANCIAL REVIEW
The Statement of Financial Position 'SOFA' shows the charity's total incoming resources for the year were £236,407 (2023: £163,350). Total resources expended amounts to £246,140 (2023: £198,485). The SOFA reveals a deficit of £9,733 (2023: Deficit £35,135).
Financial position
The Charity held fund balances at the bank of £83,043, liabilities payable within one year amounted to £18,342. Leaving total funds of £64,701, of which £51.416 were restricted.
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 upon 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 £23,223 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.
31/01/25 Approved by order of the board of trustees on ….......................................... and signed on its behalf by
Clara Green ….......................................... Trustee
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SQUARE PEGS ARTS
Independent Examiners Report to the Trustees
For year ended 31 March 2024
I report to the trustees on my examination of the accounts of the charity for the year ending 31st March 2024.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act, or
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the accounts do not accord with those records: or
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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.
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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 following 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
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SQUARE PEGS ARTS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2024 (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 2024 £ 32071 5914 37985 39057 39057 (1,072) 14,357 13,285 |
Restricted fund 2024 £ 198422 0 198422 207083 207083 (8,661) 60,077 51,416 |
Total funds 2024 £ 230493 5914 236407 246140 246140 (9,733) 74,434 64,701 |
Total funds 2023 £ 159650 3700 163350 198485 198485 (35,135) 109,569 74,434 |
|---|---|---|---|---|
All the above results are derived from continuing activities. There are no other gains or losses other than those shown above
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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 2024 2024 £ £ 0 0 31627 51416 31627 51416 18342 0 13,285 51,416 13,285 51,416 |
Funds 2024 £ 0 83043 83043 18342 64,701 64,701 13,285 51,416 64,701 |
Funds 2023 £ 0 88293 88293 13859 74,434 74,434 14,357 60,077 74,434 |
|---|---|---|---|
For the year ending 31st March 2024, 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
………………………………...…… Clara Green Trustee
31/01/25 Date:…………………………………
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SQUARE PEGS ARTS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
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 4 Expenditure on Charitable Actives Project Costs Project Subcontracted Staff Costs Core Staff Costs Support Costs |
Unrestricted fund 2024 £ 24518 7553 32071 Unrestricted fund 2024 £ 5914 5914 Unrestricted fund 2024 £ 0 0 30326 8730 39057 |
Restricted fund 2024 £ 198422 198422 Restricted fund 2024 £ 0 0 Restricted fund 2024 £ 35048 82488 75054 14493 207083 |
Total funds 2024 £ 222940 7553 230493 Total funds 2024 £ 5914 5914 Total funds 2024 £ 35048 82488 105380 23223 246140 |
Total funds 2023 £ 152279 7371 159650 Total funds 2023 £ 3700 3700 Total funds 2023 £ 20531 88627 68214 21113 198485 |
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| 5 Analysis of support costs Advertising & marketing Postage and stationery IT, computer & Software Website Telecommunications Subscriptions Equipment repairs and maintenance Travel costs General expenses Accountancy fees Consultancy Legal fees Insurance Staff training Bank fee 6 Net income/(expenditure) for the year This is stated after charging/(crediting) Accountancy fees 7 Creditors Trade creditors Net pay, PAYE & NI Accruals and deferred income 8 Movement in funds Unrestricted Funds General Fund Restricted Funds Total Fund 9 Unrestricted funds - Previous year Unrestricted Funds General Fund Restricted Funds Total Fund |
Unrestricted fund 2024 £ 2447 319 487 0 1780 304 0 1957 953 0 0 400 0 0 83 8730 Balance at April 2023 £ 14,357 60,077 74,434 £ Balance at April 2022 £ 45552 64017 109569 |
Restricted fund 2024 £ 2446 0 487 2500 0 0 0 1957 0 1738 4050 0 0 1315 0 14493 Incoming resources £ 37,985 198,422 236,407 £ Incoming resources £ 75345 88005 163350 |
Total funds 2024 £ 4893 319 974 2500 1780 304 0 3914 953 1738 4050 400 0 1315 83 23223 Total 2024 £ 1738 2024 £ 8098 9244 1000 18342 Outgoing resources £ (39,057) (207,083) (246,140) £ Outgoing resources £ (106540) (91945) (198485) |
Total funds 2023 £ 59 91 323 0 1601 0 150 1618 2196 2014 9300 0 415 3280 66 21113 Total 2023 £ 2014 2023 £ 5567 7292 1000 13859 Balance at March 2024 £ 13,285 51,416 64,701 £ Balance at March 2023 £ 14357 60077 74434 |
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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