Chelmsford Art and Cultural Festival Charity number 1177882 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" March 2021 Nicola Deackes Independent Examiner Chelmsford Art and Cultural Festival CONTENTS FOR THE YEAR ENDED 31 MARCH 2021 Page Trustees Annual Report Statement of financial activitie5 Balance Sheet Notes forming part of the financial statements 6-8 Independent examination report Chelmsford Art and Cultural Festival TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2021 REFERENCE AND ADMINISTRATIVE DEfAILS Registered Charty Name and Number Ideas Hub Chelmsford1177862 Admin address 20 Roxwell Road, Chelmsford. Essex, CM12PP E-hosts@ideashubchelmsford.org T:07880990443 Trustees Mr M Noble- appointed 26.03.2018 Mrs E Miller- appointed 26.03.2018- renewed 29.07.2020 Ms Candy Joyce- appointed 01.07. 2019 Independent Examiner Nicola Deackes Commencement of Actlvltles Activities commenced 09 April 2018 STRucfuRE, GOVERNANCE. AND MANAGEMEKr Governlng document The charity is controlled by tts governing document. a deed of Trust, and constitutes an incorporated charity 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. OBJEcfivES AND ACTivrriES Chelmsford Arts and Cultural Festival became a charity on the 09 April 2018. The festival was created in response to the local community wanting more Arts and Culture in Chelmsford. Chelmsford Art and Cultural Festival TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2021 Objectlves and alms 11 To promote, the arts, culture, heritage and science in Chelmsford, in particular by- al encouraging public participation in the arts and culture by stagin8 public events. including performances and exhibttions of work of artistic merit, workshops. talks and by such other means as the trustee5 may determine. bl supporting charities. arts organisations and other notfor profft bodies engaged in the provision of artistic and cultural activities and events. 21 To advance education in the arts and the artistic and cultural history and heritage of Chelmsford by the provision of workshops, classes, arts projects. performances and exhibttions. 31 To further or benefit the residents of Chelmsford. without distinction of sex, sexual orientation or race, or of political, religious or other opinions, by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents. Significant activitles In the period Chelmsford Arts and Culture was limited in June 2020 because of lockdown and ran online with videos being made for ideas for homemade costumes. The year was also spent forging relationships for the festival 2021. The online work enabled the festival to launch Chelmsford Make Music Day with the view to grow this grassroot movement in the years to come. Publlc benefit Chelmsford Festival has engaged the community via online activities, hence providin8 cultural support during Lockdown Chelmsford Art and Cultural Festival TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31st MARCH 2021 Organisational information Chelmsford arts and Cultural Festival is managed by the trustees with the support of local organisations and individuals. Chelmsford Arts and Cultural Festival is a self-financing charity- Its income for the tax year 2020-2021 came from the balance of the 2019 budget and grants and sponsorships in preparation of the June 2020 Festival. Chelmsford Arts and Cultural Festival does not own premises and uses vacant private and public spaces to deliver its attivities Final Overview and Plans for the Future Chelmsford Arts and Cultural festival is collecting grants and sponsorship for the Festival 2021. Chelmsford Festival is also developing a strategy of events for future festivals with a carnival as the lead event and Make Music day as a grassroot annual event. A festival director has been appointed to ensure the long- term resilience of the festival organisation. Chelmsford Arts and Cultural Festival will be workin8 on the quality on the events delivered Reserve Pollcy The trustees agree that a resepie needs to be built to act as a reserve to ensure the health of the charity. Approved by order of the board of trustees on and signed on its behalf by- Mrs E Miller- Trustee Chelmsford Art and Cultural Festival STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31st MARCH 2021 Total Funds 2021 2020 Notes Incoming resources Incoming resources from generated funds Donations and grants Charitable Activities Activities for generating funds Total incomlng resources 11,500 19,500 11.500 19.500 Resources expended Cost of generating funds Charitable activities Charitable events Total resources expended Net incoming/(outgoing) resources before transfers Gross transfers between funds 15.237 2,800 18.037 2,064 2.064 (6,537) 17,436 Net incoming/(outgoing)resources (6.537) 17,436 Net movement in funds (6.537) 17,436 Total funds brought forward at l Aprfl 2020 17.436 1,584 Total funds carrled forward at 31" March 2021 10,899 17, 436 The notes on page 6-8 form part of these financial statements Chelmsford Art and Cultural Festival BALANCE SHEEr FOR THE YEAR ENDED 31st MARCH 21 Notes 2021 2020 Fixed asset5 Tangible assets Current assets Debtors Bank balance Cash on hand 12,480 19,017 12,480 19,017 Creditors: amount falllng due within one year Net current Assets 12,480 19,017 Total assets less current liabilities Funds of the charity Unrestricted funds Total Funds 12,480 19, 017 19,017 These financial statements were approved by the Board of Trustees on and were signed on their behalf by E.Miller Signed: C£dil Date: '{ -riiLld Chelmsford Art and Cultural Festival NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021 l.Accounting policies 1.1 Basls of preparation The flnancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statements on Recommended Practise applicable to charities preparin8their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffettive l January 20151- ICharitie5 SORP IFRS102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) and the Companies Act 2(K)6. Recommended Practice ISORPI issued in October 20CM), revised 2005. 1.2 Incoming res¢)urces Income from donation5 and grants, including capital grants, is included in incoming resources when these are receivable. When donors specifythat donations and grants, including capital grants are for a restritted purpose, this income is included in incoming resources of restricted funds when receivable. 1.3 Resources expended and recognition of Ilabllltles All expenditure is incurred on a receipts and payments basis. The majority of costs are directly attributable to the specific Charitable attivities. Liabiltties are recognised on the receipts and payments basis in accordance with the Charity Commission accountlng principles for small charities. Management and administration of the charity represent costs incurred in the management of the Charitws assets, organisational administration and compliance with Charitable and statutory requirements 1.4 Depreciation Depreciation is provided to write of the cost of fixed assets over their expected useful All assets 33% Straight Line 1.5 Fund Accounting Funds held by the Charity are either: Unrestricted general funds- These are funds which can be used in accordance with the Charitable objects t the discretion of the Trustees Restritted funds- These are fundsthat can only be used for particular restrirted purposes within the objects of the CharFty. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Chelmsford Art and Cultural Festival NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021 2. Charitable Activities Total 2021 Total 2020 Sponsorship Fundraising Crowdfunding 3. Grants and Donations Total 2021 Total 2020 Donation51commission Grants 11,500 11.500 Total 2021 19,500 19,500 Total 2020 4. Costs of generating funds Sponsorship package 5. Charftable activities Total 2021 Total 2020 Advertising Post & Stationary Insurance Telephone & Internet Venues hire Sundries lentertainment/thank you) Vol expenses Professional fees Equipment& infrastructure First aid Depreciation 236.65 1961 15.000 103 15,236.65 Total 2021 2.064 Total 2020 6.Charitable events Vlsual Arts Music Educational workshops Street theatre Comedy Dance 2,8CKJ 2.800 Chelmsford Art and Cultural Festival NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021 7. Credltors Accruals: none 8. Tangible fixed Assets (Fixtures and Fittings) No tangible assets 8. Going Concern The charity is operatin8 on a 80ing concern basis 9. Related Parties There were no related parties duringthe year 10. Restricted Fund5 No comparative figures are included in these accounts a5 no restricted funds were receNed or spent in elther period Chelmsford Art and Cultural Festival INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31st MARCH 2021 I report on the accounts of Ideas Hub Chelmsford for the year ended 31 March 2021 which are set out on pa8es 4 to 8. Respective respon5ibllltles of trustees and examlner The Charl￿S Trustees are responsible for the preparation of the accounts. The Charitvs Trustees consider that an audit is not required for this year (under section 14412) of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to: Examine the accounts under section 145 of the Charities Act, To follow the procedures laid down in the General Directions given bythe Charity Commissioners (Under settion 145{5llbl of the Charities Act. and To state whether particular matters have come to my attention. Basis of the independent examinerfs Ststement My examination was carried out in accordance with the General Direction given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the account presented with those records. It also includes considerations of any unusual item5 or disclosures in the accounts and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given bythe accounts. Independent examinerfs statement In the course of my examination, nothing has come to my attention which gives me cause to believe that: The accounting records were not kept in accordance with section 130 of the Charity Act; or The accounts did not accord with the accounting records; or The accounts did not comply with the applicable requirements concerning the form and content set out in the current Charities (Accounts and Reports) Regulations. I have come across nothing during my examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts. Nicola Deackes Independent Examiner Date: