REGISTERED CHARITY NUMBER: 1177900
Report of the Trustees and
Financial Statements
for the Year Ended 31 May 2022
for
ARTHOUSE Unlimited
Bennewith 2018 Limited (Statutory Auditors)
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
ARTHOUSE Unlimited
Contents of the Financial Statements for the Year Ended 31 May 2022
|
Page |
Chair's Report |
1 to 2 |
Report of the Trustees |
3 to 4 |
Report of the Independent Auditors |
5 to 7 |
Statement of Financial Activities |
8 |
Balance Sheet |
9 |
Cash Flow Statement |
10 |
Notes to the Cash Flow Statement |
11 |
Notes to the Financial Statements |
12 to 20 |
Detailed Statement of Financial Activities |
21 to 22 |
ARTHOUSE Unlimited
Chair's Report for the Year Ended 31 May 2022
Thisreportcoversourfourthyearofoperationasastand-alonecharity,andithasbeenanotheryearofthe most
unusualcircumstancesin whichthe charityhas managedto continueto thrive- just.Ourthanksgo to ourartists, the
staff, our wonderful volunteers and of course our customers and as well as the donors who support us.
The interventionof Covid meant disruptionfor the artistsfor a long periodof time but they have been hugely resilient
andbacktheycameinfullswingandwithgreatenthusiasm.Asateamwemanagedtokeepintouchwith them
through all the Covid interruptions via interactive technology (thank you to Shanley Homes).
This year there was huge excitementwhen the RoyalAcademyselectedthree of our artist'spicturesfor their Summer
Exhibition(heldintheAutumnbecauseofCovid),arealtestimonytothedeterminationofalltheArtistsand the
quality of the art instructors. Our inclusion has been repeated again in 2022.
Whenwe set the budgetsfor the year,we were not sure if shopswouldever openroutinelyagain,andif online sales
wouldholdup,strengthenorcollapse.ThewholestaffteamledbyourremarkableCEOBeckySheraidahFRSA set
about working on being as flexible as possible to respond to each and every issue thrown at them.
The resultscontainedin this reportshows that all their hard work, flexibility,expertiseand determinationhas paid off
and we have continued to grow this year with turnover reaching £1.3m.
WewereofcourseheavilyimpactedbyCovidandoneoftheissuesoutsidethestudiohasbeenourability to
introducenewproductswhicharethelifebloodofourgrowingsocialenterprise.Existingsuppliers,new suppliers,
finishingdesigns with artists in the studiowere all in a difficultpositionso the flow of new productsslowed and with it
our growth opportunity.
Add to this, a key plank of our social enterpriseis selling to retail outletsand the exhibitionswe usuallyattended were
heavily disrupted. However, this turned out to be a huge area of success for us as we grew our reach into this sector.
Thereasonsellingproductissoimportanttousisthatthisishowtheartistsachievetherecognitioninsociety that
theydeserve.Moreandmoreindividualsaroundthecountryknowoftheirwork,theirability,theirtalentand they
arebeingfullyincludedandrecognisedoneveryitemwesell.Onekeystatisticthatissoimportantisthat 420,000
individualitems of producthave been sold across the UK in the past year, each tellingthe story of our artistsand their
creativity.This is an amazingstatistic.In addition,we now have HollyTuckerMBE as a Patronso ourreachhas grown
again.
UrbanOutfittershavebecomeacustomerandjoinLush,HealsandtheRoyalAcademyamongstsomeof our
better-knownoutlets.Overall,we haveover600outletsintheUK sellingourproducts.We areverygratefulto every
oneofthemandtheyareallpartofour'community'ofsupporters.OnInstagramwe haveanother29,000 followers
who know of us and support us.
We are now backup andrunningfullspeedandwe have two new rangespreparedreadyfor launchin the early part
ofourfifthyear(oneofthemayearlateduetoalltheholdupsCovidcreated).Sonotonlyhavewe been
outstandinglysuccessfulthisyearbutlookingaheadwe see theopportunitytocontinuegrowingandexpanding. We
just hope that the new 'cost of living' issues that the UK is facing do not knock us off course.
Ourloyalvolunteersarenowsteadilyreturning,andwearestillactivelyseekingnewonestojoinus.Lastyear we
received and provided over 3400 hours of volunteering. Needless to say, the five trustees are all volunteers.
WehaveaverycloserelationshipwithMencapBerkshirewhodoallourtradepick,packandfulfilment.We are
mutually supportive of each other's work and the positive affect on the 65 beneficiaries who are involved in Newbury.
We have neededhelpfrom externaldonors,andwe are so very gratefulfor theirsupportandwithoutthatsupport it
would have been difficult to have got through the early years of the charity with such robust growth.
The team have made great progressin improvingour technologyand it has been one of the factorsin containing costs
of operatingthe charity.Obviously,every charityhas to keep a very close eye on costs,andwe are alwayslooking for
ways to remain effective without increasing our spending. This was signalled in last year's report.
Page 1
ARTHOUSE Unlimited
Chair's Report for the Year Ended 31 May 2022
A key event in our annualcalendaris our Christmaspartyfor the artistsand their familiesand carers.This year held in
Maydueto Covid,it was theopportunityto awardeveryartista personalcertificaterecognisingtheirown individual
contribution.It is an amazingeveningandone whichis enthusiasticallywelcomedby ourmost importantpeople, the
artists.
We are delighted that early in the year we appointed a new trustee, Joanna Nagel, who is now fully active.
We wouldhaveideallyfounda largerstudiothisyearorexpandedouractivitytonewpasturesbutitwasnotto be.
However, we still have big ambitions for our charity.
Ineverywayourfinancialresultsfortheyeardonotreflecttheturmoilwehavebeenthrough.Weface2022 with
excitementevenconsideringhowthenew'costofliving'andotherchallengesintheeconomycouldaffect our
progress. It means I can repeat last year's final paragraph:
ARTHOUSEUnlimitedgoesintothenextfinancialyearinaverystrongposition- productrange,staffteam,artists in
thestudio,tradesalesgoingwell,strongonlinebusinessandtradeshowsplannedforSeptember2022and January
2023.
Dr Colin Stokes MBE
Chair of Trustees
Page 2
ARTHOUSE Unlimited
Report of the Trustees for the Year Ended 31 May 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1177900
Principal address
96 High Street
Godalming
Surrey
GU7 1DW
Trustees
Dr C Stokes
J T Pepper
A L Cross
S J Longdon
J Nagel (appointed 10.9.21)
Auditors
Bennewith 2018 Limited (Statutory Auditors)
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
STATEMENT OF TRUSTEES' RESPONSIBILITIES
ThetrusteesareresponsibleforpreparingtheAnnualReportandthefinancialstatementsinaccordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accountsand Reports)
Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsfor each
financialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparing those
financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
time the financialpositionof the charityandto enablethem to ensurethatthe financialstatementscomplywith the
CharitiesAct 2011, the Charity(Accountsand Reports)Regulations2008 and the provisionsof the trust deed. They are
alsoresponsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsforthe prevention
and detection of fraud and other irregularities.
Page 3
ARTHOUSE Unlimited
Report of the Trustees for the Year Ended 31 May 2022
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
Dr C Stokes - Trustee
Page 4
Report of the Independent Auditors to the Trustees of ARTHOUSE Unlimited
Opinion
WehaveauditedthefinancialstatementsofARTHOUSEUnlimited(the'charity')fortheyearended31May 2022
whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCashFlowStatementandnotesto the
financialstatements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframework that
hasbeenappliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 May 2022 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicable law.
OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditof the
financialstatementssectionofourreport.Weareindependentofthecharityinaccordancewiththe ethical
requirementsthat are relevantto our auditof the financialstatementsin the UK, includingthe FRC's Ethical Standard,
andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethat the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditingthe financialstatements,we have concludedthat the trustees' use of the going concernbasis of accounting
in the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoevents or
conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueasa going
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilitiesand the responsibilitiesof the trusteeswith respect to goingconcernare describedin the relevant
sections of this report.
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in
the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in
doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our
knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material
inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesriseto a
materialmisstatementin the financialstatementsthemselves.If, based on the work we have performed,we conclude
thatthereis a materialmisstatementof thisotherinformation,we are requiredto reportthatfact.We have nothing
to report in this regard.
Matters on which we are required to report by exception
We have nothingto reportin respect of the followingmatters where the Charities(Accountsand Reports) Regulations
2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Page 5
Report of the Independent Auditors to the Trustees of ARTHOUSE Unlimited
Responsibilities of trustees
As explainedmore fullyin the Statementof Trustees'Responsibilities,the trusteesare responsiblefor the preparation
ofthefinancialstatementswhichgivea trueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is
necessaryto enablethe preparationof financialstatementsthat are free from materialmisstatement,whetherdue to
fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueas a
goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of
accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic
alternative but to do so.
Our responsibilities for the audit of the financial statements
WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportinaccordancewith the
Act and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat includes
ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in
accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from
fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to
influence the economic decisions of users taken on the basis of these financial statements.
Weobtainedanunderstandingofthelegalandregulatoryframeworksthatareapplicabletotheentity and
determinedthemostsignificantarethosethatrelatetoFRS102Section1A,pensionlawsandregulationsand tax
regulations.
We assessed the risks of material misstatement in respect of fraud as follows:
- Enquiries made of management and those charged with governance as well as the payroll services
- Analytical procedures were used to identify if there were any unusual or unexpected relationships
- Discussions with management to identify any fraud risk factors of related party relationships and transactions
Basedontheresultsofourriskassessmentwedesignedourauditprocedurestoidentifynon-compliancewith such
laws and regulations identified above.
Enquiriesweremadeofmanagementandthosechargedwithgovernance.Wecorroboratedourenquiries through
the review of Board minutes and other papers provided. There was no contradictory evidence.
Weconsideredtheriskoffraudthroughmanagementoverrideand,inresponse,weincorporatedtestingof manual
journalentriesintoourauditapproach.Wetestedyearendjournalsaswellasjournalentriesthroughoutthe year.
There were no transactions identified outside the normal course of business.
Basedontheresultsofourriskassessmentwedesignedourauditprocedurestoidentifyandtoaddress material
misstatementsinrelationtofraud.Weincorporatedanelementofunpredictabilityintheselectionofthe nature,
timing, and extent of audit procedures.
Wheretransactionmeetingriskcriteriawereidentified,wecarriedoutfurtherworksuchasadditionaltesting to
source information.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of
the Independent Auditors.
Page 6
Report of the Independent Auditors to the Trustees of ARTHOUSE Unlimited
Use of our report
This reportis made solelyto the charity'strustees,as a body,in accordancewith Part 4 of the Charities(Accounts and
Reports)Regulations2008. Our auditwork has been undertakenso that we might state to the charity'strustees those
matterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothefullest extent
permittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthe charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Bennewith 2018 Limited (Statutory Auditors)
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Date: .............................................
Page 7
ARTHOUSE Unlimited
Statement of Financial Activities
for the Year Ended 31 May 2022
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Shop sales
Commissions
Online retail sales
Trade sales
Art sessions
Corporate gift sales
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
5
Goods Purchased for Resale
Miscellaneous Purchases
Packaging and Carriage- Retail Sales
Marketing and PR
Courier Fees
Package and Carriage - Trade Sales
Artist Materials
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
66,512
46,182
20,615
171,016
795,611
97,403
26,933
14
-
1,224,286
541,415
3,001
2,720
34,016
5,702
73,553
1,252
531,510
1,193,169
31,117
144,691
175,808 |
Restricted
funds
£
80,087
-
-
-
-
-
-
-
-
80,087
-
-
-
-
-
-
412
46,209
46,621
33,466
10,173
43,639 |
31.5.22
Total
funds
£
146,599
46,182
20,615
171,016
795,611
97,403
26,933
14
-
1,304,373
541,415
3,001
2,720
34,016
5,702
73,553
1,664
577,719
1,239,790
64,583
154,864
219,447 |
31.5.21
Total
funds
£
116,422
22,607
18,000
296,546
452,487
68,590
-
34
13,720 |
|
|
|
|
988,406 |
|
|
|
|
349,862
2,729
8,800
15,251
5,799
39,612
1,022
518,376 |
|
|
|
|
941,451 |
|
|
|
|
46,955
107,909 |
|
|
|
|
154,864 |
The notes form part of these financial statements
Page 8
ARTHOUSE Unlimited
Balance Sheet
31 May 2022
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
26,082
CURRENT ASSETS
Stocks
15
150,844
Debtors: amounts falling due within one year
16
50,168
Prepayments and accrued income
21,926
Cash at bank
180,914
403,852
CREDITORS
Amounts falling due within one year
17
(84,732)
NET CURRENT ASSETS
319,120
TOTAL ASSETS LESS CURRENT LIABILITIES
345,202
CREDITORS
Amounts falling due after more than one year
18
(169,394)
NET ASSETS
175,808
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
-
-
-
43,639
43,639
-
43,639
43,639
-
43,639 |
31.5.22
Total
funds
£
26,082
150,844
50,168
21,926
224,553
447,491
(84,732)
362,759
388,841
(169,394)
219,447
175,808
43,639
219,447 |
31.5.21
Total
funds
£
15,552
125,405
25,436
22,051
176,816
349,708
(63,169)
286,539
302,091
(147,227)
154,864
144,691
10,173
154,864 |
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
C Stokes - Trustee
The notes form part of these financial statements
Page 9
ARTHOUSE Unlimited
Cash Flow Statement
for the Year Ended 31 May 2022
31.5.22
Notes
£
Cash flows from operating activities
Cash generated from operations
1
68,953
Net cash provided by operating activities
68,953
Cash flows from investing activities
Purchase of tangible fixed assets
(21,216)
Net cash used in investing activities
(21,216)
Change in cash and cash equivalents in the
reporting period
47,737
Cash and cash equivalents at the beginning
of the reporting period
176,816
Cash and cash equivalents at the end of
the reporting period
224,553 |
31.5.21
£
31,592
31,592
(7,927)
(7,927)
23,665
153,151
176,816 |
|
|
The notes form part of these financial statements
Page 10
ARTHOUSE Unlimited
Notes to the Cash Flow Statement
for the Year Ended 31 May 2022
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
|
31.5.22 |
31.5.21 |
|
£ |
£ |
Net income for the reporting period (as per the Statement of Financial |
|
|
Activities) |
64,583 |
46,955 |
Adjustments for: |
|
|
Depreciation charges |
10,686 |
12,083 |
Increase in stocks |
(25,439) |
(8,181) |
Increase in debtors |
(24,607) |
(43,822) |
Increase in creditors |
43,730 |
24,557 |
Net cash provided by operations |
68,953 |
31,592 |
2. ANALYSIS OF CHANGES IN NET FUNDS
|
At 1.6.21 |
Cash flow |
At 31.5.22 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank |
176,816 |
47,737 |
224,553 |
|
176,816 |
47,737 |
224,553 |
Total |
176,816 |
47,737 |
224,553 |
The notes form part of these financial statements
Page 11
ARTHOUSE Unlimited
Notes to the Financial Statements
for the Year Ended 31 May 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Legacies are accounted for when received.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Stocks
Stock consists of good for resale. Stocks are valued at the lower of cost and net realisable value.
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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity's pension
scheme are charged to the Statement of Financial Activities in the period to which they relate.
Bounce back loan scheme
TheCharityreceivedGovernmentsupportduringthepreviousperiodintheformoftheBounceBack Loan
Scheme.Some paymentshavebeenmadein the currentperiodandthe remainingbalanceat the yearend is
£49,537.04.
continued...
Page 12
ARTHOUSE Unlimited
Notes to the Financial Statements - continued
for the Year Ended 31 May 2022
2.
DONATIONS AND LEGACIES
Donations
Gift aid
3.
INVESTMENT INCOME
Investment income
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Charitable Activities
Shop sales
Charitable Activities
Commissions
Charitable Activities
Online retail sales
Charitable Activities
Trade sales
Charitable Activities
Art sessions
Charitable Activities
Corporate gift sales
5.
CHARITABLE ACTIVITIES COSTS
Goods Purchased for Resale
Miscellaneous Purchases
Packaging and Carriage- Retail Sales
Marketing and PR
Courier Fees
Package and Carriage - Trade Sales
Artist Materials |
|
|
|
continued...
Page 13
ARTHOUSE Unlimited
Notes to the Financial Statements - continued
for the Year Ended 31 May 2022
6. SUPPORT COSTS
6.
SUPPORT COSTS |
|
Governance
Other
costs
£
£
Other resources expended
129,720
6,000
7.
AUDITORS' REMUNERATION
31.5.22
£
Fees payable to the charity's auditors for the audit of the charity's financial
statements
4,000
Auditors' remuneration for non audit work
2,000 |
Totals
£
135,720 |
|
31.5.21
£
-
- |
8. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31May2022norforthe year
ended 31 May 2021.
Trustees' expenses
Duringthe year no trusteewas reimbursedfor expenses.One Trusteeswas reimbursed£1,740for expenses in
the previous year.
9. STAFF COSTS
|
2022 |
2021 |
|
£ |
£ |
Wages and salaries |
375,110 |
337,810 |
Social security |
28,510 |
29,734 |
Pension costs |
18,330 |
19,610 |
Other staff costs |
3,354 |
3,070 |
|
|
|
Total |
425,305 |
390,224 |
|
|
|
The average monthly number of employees during the year was as follows:
Staff |
31.5.22
27 |
31.5.21
23 |
No employees received emoluments in excess of £60,000.
continued...
Page 14
ARTHOUSE Unlimited
Notes to the Financial Statements - continued
for the Year Ended 31 May 2022
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
38,731
Charitable activities
Shop sales
22,607
Commissions
18,000
Online retail sales
296,546
Trade sales
452,487
Art sessions
68,590
Investment income
34
Other income
13,720
Total
910,715
EXPENDITURE ON
Charitable activities
Goods Purchased for Resale
349,862
Miscellaneous Purchases
2,729
Packaging and Carriage- Retail Sales
8,800
Marketing and PR
-
Courier Fees
5,799
Package and Carriage - Trade Sales
39,612
Artist Materials
-
Other
439,156
Total
845,958
NET INCOME/(EXPENDITURE)
64,757
RECONCILIATION OF FUNDS
Total funds brought forward
79,934
TOTAL FUNDS CARRIED FORWARD
144,691 |
Restricted
funds
£
77,691
-
-
-
-
-
-
-
77,691
-
-
-
15,251
-
-
1,022
79,220
95,493
(17,802)
27,975
10,173 |
Total
funds
£
116,422
22,607
18,000
296,546
452,487
68,590
34
13,720 |
|
|
988,406 |
|
|
349,862
2,729
8,800
15,251
5,799
39,612
1,022
518,376 |
|
|
941,451 |
|
|
46,955
107,909 |
|
|
154,864 |
continued...
Page 15
ARTHOUSE Unlimited
Notes to the Financial Statements - continued
for the Year Ended 31 May 2022
11. KEY MANAGEMENT
The total amount of employee benefits received by its Key Management personnel was £54,591
12. CORONAVIRUS JOB RETENTION SCHEME
A sum of £13,720.17 was received in the 2021 (£nil in 2022) from the government towards salaries and wages
13. FUTURE COMMITMENTS
At 31 May 2022 the Charity had annual commitments under operating leases as follows:
|
96 High Street |
Vehicle |
Total 2021 |
Total 2020 |
|
£ |
£ |
£ |
£ |
|
|
|
|
|
Within one year |
35,000 |
3,324 |
38,324 |
36,762 |
Within 2-5 years |
140,000 |
1,662 |
141,662 |
144,986 |
More than 5 years |
56,863 |
- |
56,863 |
91,863 |
|
|
|
|
|
Total |
231,863 |
4,986 |
236,849 |
273,611 |
|
|
|
|
|
14. TANGIBLE FIXED ASSETS
Depreciationisprovidedatthefollowingannualratesinordertowriteoffthecostlessestimated residual
value of each asset over its estimated useful life.
Furniture, fittings and office equipment
15.
STOCKS
Goods held for resale
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors |
20%-33.3% straight line |
20%-33.3% straight line |
|
31.5.22
£
150,844
31.5.22
£
50,168 |
31.5.21
£
125,405
31.5.21
£
25,436 |
continued...
Page 16
ARTHOUSE Unlimited
Notes to the Financial Statements - continued
for the Year Ended 31 May 2022
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Taxation and social security
Other creditors
18.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other creditors
19.
MOVEMENT IN FUNDS
At 1.6.21
£
Unrestricted funds
General fund
144,691
Restricted funds
Awards for all
4,722
Fundraising
417
The National Lottery Community Fund
3,534
Artist fund
1,500
Big Issue
-
Wates foundation
-
10,173
TOTAL FUNDS
154,864
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
1,224,286
Restricted funds
The National Lottery Community Fund
42,087
Big Issue
31,000
Wates foundation
7,000
80,087
TOTAL FUNDS
1,304,373 |
31.5.22
£
25,461
23,924
35,347
84,732
31.5.22
£
169,394
Net
movement
in funds
£
31,117
-
-
(3,534)
-
31,000
6,000
33,466
64,583
Resources
expended
£
(1,193,169)
(45,621)
-
(1,000)
(46,621)
(1,239,790) |
31.5.21
£
13,889
24,505
24,775
63,169
31.5.21
£
147,227
At
31.5.22
£
175,808
4,722
417
-
1,500
31,000
6,000
43,639
219,447
Movement
in funds
£
31,117
(3,534)
31,000
6,000
33,466
64,583 |
|
|
|
continued...
Page 17
ARTHOUSE Unlimited
Notes to the Financial Statements - continued
for the Year Ended 31 May 2022
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
At 1.6.20
£
Unrestricted funds
General fund
79,934
Restricted funds
Awards for all
4,722
Fundraising
417
The National Lottery Community Fund
22,336
Artist fund
500
27,975
TOTAL FUNDS
107,909
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
910,715
Restricted funds
The National Lottery Community Fund
76,691
Artist fund
1,000
77,691
TOTAL FUNDS
988,406 |
Net
movement
At
in funds
31.5.21
£
£
64,757
144,691
-
4,722
-
417
(18,802)
3,534
1,000
1,500
(17,802)
10,173
46,955
154,864
Resources
Movement
expended
in funds
£
£
(845,958)
64,757
(95,493)
(18,802)
-
1,000
(95,493)
(17,802)
(941,451)
46,955 |
|
|
continued...
Page 18
ARTHOUSE Unlimited
Notes to the Financial Statements - continued for the Year Ended 31 May 2022
19. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Awards for all
Fundraising
The National Lottery Community Fund
Artist fund
Big Issue
Wates foundation
TOTAL FUNDS |
At 1.6.20
£
79,934
4,722
417
22,336
500
-
-
27,975
107,909 |
Net
movement
in funds
£
95,874
-
-
(22,336)
1,000
31,000
6,000
15,664
111,538 |
At
31.5.22
£
175,808
4,722
417
-
1,500
31,000
6,000 |
|
|
|
43,639 |
|
|
|
219,447 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
Restricted funds
The National Lottery Community Fund
Artist fund
Big Issue
Wates foundation
TOTAL FUNDS |
Incoming
resources
£
2,135,001
118,778
1,000
31,000
7,000
157,778
2,292,779 |
Resources
expended
£
(2,039,127)
(141,114)
-
-
(1,000)
(142,114)
(2,181,241) |
Movement
in funds
£
95,874
(22,336)
1,000
31,000
6,000
15,664
111,538 |
|
|
|
|
continued...
Page 19
ARTHOUSE Unlimited
Notes to the Financial Statements - continued
for the Year Ended 31 May 2022
20. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2022.
21. ULTIMATE CONTROLLING PARTY
The Board of Trustees are considered to be the ultimate controlling party.
22. FUNDS
General Fund
The general fund is used for the day to day running of the Charity.
Awards for All
This fund is for the purpose of recruiting, supporting and training volunteers.
Fundraising
This fund is for the purpose of employing a fundraising consultant for 12 months.
The National Lottery Fund
ThisfundistosupporttheprovisionofartopportunitiesinSurreycommunities,specificallyforadultswith a
dual diagnosis of a complex learning disability and epilepsy.
Artist Fund
Thisfundis to enableprovisionof improvedandbespokesound,communicationandIT equipmentforuse by
the Artists to enhance the atmosphere and working environment of the studio.
Wates Foundation
Received for the provision of support work training for the Art Instructors
Big Issue Grant
Fundingprovidedfor improvementof premises which can be moved in the futureshouldARTHOUSE Unlimited
relocate.
Page 20
ARTHOUSE Unlimited
Detailed Statement of Financial Activities for the Year Ended 31 May 2022
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Investment income
Investment income
Charitable activities
Charitable Activities
Other income
Government grant
Total incoming resources
EXPENDITURE
Charitable activities
Marketing and PR
Artist materials
Goods purchased for sale
Carriage/courier
Packaging and carriage
Miscellaneous purchases
Other
Wages
Social security
Pensions
Bank charges
Professional fees
Bad debts
Other staff costs
Depreciation of tangible fixed assets
Support costs
Other
Light and heat
Carried forward |
31.5.22
£
145,523
1,076
146,599
14
1,157,760
-
1,304,373
34,016
1,664
541,415
5,702
76,273
3,001
662,071
375,111
28,510
18,330
3,363
2,345
300
3,354
10,686
441,999
5,849
5,849 |
31.5.21
£
115,306
1,116
116,422
34
858,230
13,720
988,406
15,251
1,022
349,862
5,799
48,412
2,729
423,075
337,810
29,734
19,610
2,592
10,333
(17,500)
3,070
12,083
397,732
5,028
5,028 |
|
|
|
This page does not form part of the statutory financial statements
Page 21
ARTHOUSE Unlimited
Detailed Statement of Financial Activities
Detailed Statement of Financial Activities |
|
|
for the Year Ended 31 May 2022
Other
Brought forward
Telephone
Sundries
Rent and rates
Travelling
Printing and stationery
Maintenance, equipment hire an d rental
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit work
Total resources expended
Net income |
31.5.22
£
5,849
44,671
12,033
47,221
7,619
6,616
5,711
129,720
4,000
2,000
6,000
1,239,790
64,583 |
31.5.21
£
5,028
35,175
5,698
48,294
2,128
13,628
10,693 |
|
|
120,644
-
- |
|
|
- |
|
|
941,451 |
|
|
46,955 |
This page does not form part of the statutory financial statements
Page 22