| Page | |||
|---|---|---|---|
| Chair's Report | |||
| Report ofthe Trustees | 2 | to | 3 |
| Report ofthe Independent Auditors |
4 | to | 6 |
| Statement ofFinancial Activities | |||
| Balance Sheet | |||
| Cash Flow Statement | |||
| Notes to the Cash Flow Statement | 10 | ||
| Notes to the Financial Statements | 11 to | 20 | |
| Detailed Statement of Financial Activities | 21 | to | 22 |
| 31.5.23 | 31.5.22 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| funds | funds | funds | funds | |||||
| Notes | f | f | f | f | ||||
| INCOME AND | ENDOWMENTS | FROM | ||||||
| Donations and |
legacies | 80,659 | 44,707 | 125,366 | 146,599 | |||
| Charitable activities |
||||||||
| Shop sales | 40,237 | 40,237 | 46,182 | |||||
| Commissions | 36,008 | 36,008 | 20,615 | |||||
| Online retail sales | 142,016 | 142,016 | 171,016 | |||||
| Trade sales | 824,676 | 824,676 | 795,611 | |||||
| Art sessions | 97,430 | 97,430 | 97,403 | |||||
| Corporate gift |
sales | 16,392 | 16,392 | 26,933 | ||||
| Investment income |
596 | 596 | 14 | |||||
| Total | 1,238,014 | 44,707 | 1,282,721 | 1,304,373 | ||||
| EXPENDITURE | ON | |||||||
| Raising funds | 18,354 | 18,354 | (25,439) | |||||
| Charitable activities |
||||||||
| Goods Purchased for Resale | 524,160 | 524,160 | 566,854 | |||||
| Miscellaneous | Purchases | 4,353 | 4,353 | 3,001 | ||||
| Packaging and |
Carriage- Retail | Sales | 17,636 | 17,636 | 2,720 | |||
| Marketing and |
PR | 14,192 | 14,192 | 34,016 | ||||
| Courier Fees | 5,702 | |||||||
| Package and Carriage - Trade Sales | 53,078 | 53,078 | 73,553 | |||||
| Artist Materials | 1,851 | 1,851 | 1,664 | |||||
| Fundraising expenses |
417 | 417 | ||||||
| Trade show costs | 30,147 | 30,147 | ||||||
| Other | 502,560 | 72,719 | 575,279 | 577,719 | ||||
| Total | 1,166,331 | 73,136 | 1,239,467 | 1,239,790 | ||||
| NET INCOME/(EXPENDITURE) | 71,683 | (28,429) | 43,254 | 64,583 | ||||
| RECONCILIATION OF FUNDS |
||||||||
| Total funds brought | forward | 175,808 | 43,639 | 219,447 | 154,864 | |||
| TOTAL FUNDS | CARRIED FORWARD | 247,491 | 15,210 | 262,701 | 219,447 |
| 31.5.23 | 31.5.22 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | f | f | f | f | ||
| FIXEDASSETS | ||||||
| Tangible assets | 14 | 17,175 | 17,175 | 26,082 | ||
| CURRENT ASSETS | ||||||
| Stocks | 15 | 132,490 | 132,490 | 150,844 | ||
| Debtors: amounts | falling due within one year | 16 | 104,278 | 104,278 | 50,168 | |
| Prepayments and |
accrued income | 10,777 | 10,777 | 21,926 | ||
| Cash at bank | 237,447 | 15,210 | 252,657 | 224,553 | ||
| 484,992 | 15,210 | 500,202 | 447,491 | |||
| CREDITORS | ||||||
| Amounts falling due within one year |
17 | (155,467) | (155,467) | (84,732) | ||
| NET CURRENT ASSETS | 329,525 | 15,210 | 344,735 | 362,759 | ||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 346,700 | 15,210 | 361,910 | 388,841 | ||
| CREDITORS | ||||||
| Amounts falling due after more than one year |
18 | (99,209) | (99,209) | (169,394) | ||
| NET ASSETS | 247,491 | 15,210 | 262,701 | 219,447 | ||
| FUNDS | 19 | |||||
| Unrestricted funds |
247,491 | 175,808 | ||||
| Restricted funds | 15,210 | 43,639 | ||||
| TOTALFUNDS | 262,701 | 219,447 |
| Cash Flow Statement | ||||||
|---|---|---|---|---|---|---|
| forthe Year Ended 31Ma | 2023 | |||||
| 31.5.23 | 31.5.22 | |||||
| Notes | f | f | ||||
| Cash flows from operating | activities | |||||
| Cash generated from operations |
25,043 | 68,953 | ||||
| Net cash provided by operating |
activities | 25,043 | 68,953 | |||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed assets |
(3,736) | (21,216) | ||||
| Sale oftangible fixed assets |
6,797 | |||||
| Net cash provided by/(used |
in) investing | activities | 3,061 | (21,216) | ||
| Change in cash and cash equivalents |
in the | |||||
| reporting period |
28,104 | 47,737 | ||||
| Cash and cash equivalents | at the beginning | |||||
| ofthe reporting period |
224,553 | 176,816 | ||||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period |
252,657 | 224,553 |
| 31.5.23 | 31.5.22 | |||||
|---|---|---|---|---|---|---|
| f | f | |||||
| Net income for the | reporting | period (as per the Statement of Financial | ||||
| Activities) | 43,254 | 64,583 | ||||
| Adjustments | for: | |||||
| Depreciation | charges | 5,844 | 10,686 | |||
| Decrease/(increase) | in stocks | 18,354 | (25,439) | |||
| Increase in debtors | (42,960) | (24,607) | ||||
| Increase in creditors |
551 | 43,730 | ||||
| Net cash provided | by operations | 25,043 | 68,953 | |||
| ANALYSIS OF CHANGES IN NET FUNDS | ||||||
| At | 1.6.22 | Cash flow | At 31.5,23 | |||
| f | f | f | ||||
| Net cash | ||||||
| Cash at bank | 224,553 | 28,104 | 252,657 | |||
| 224,553 | 28,104 | 252,657 | ||||
| Total | 224,553 | 28,104 | 252,657 |
| 2. | DONATIONS AND LEGACIES |
DONATIONS AND LEGACIES |
||||
|---|---|---|---|---|---|---|
| 31.5.23 | 31.5.22 | |||||
| f | f | |||||
| Donations | 124,018 | 145,523 | ||||
| Gift aid | 1,348 | 1,076 | ||||
| 125,366 | 146,599 | |||||
| 3. | INVESTMENT INCOME | |||||
| 31.5.23 | 31.5.22 | |||||
| f | f | |||||
| Investment | income | 596 | 14 | |||
| INCOME FROM CHARITABLE | ACTIVITIES | |||||
| 31.5.23 | 31.5.22 | |||||
| Activity | f | f | ||||
| Charitable | Activities | Shop sales | 40,237 | 46,182 | ||
| Charitable | Activities | Commissions | 36,008 | 20,615 | ||
| Charitable | Activities | Online retail sales | 142,016 | 171,016 | ||
| Charita ble | Activities | Trade sales | 824,676 | 795,611 | ||
| Charitable | Activities | Art sessions | 97,430 | 97,403 | ||
| Charitable | Activities | Corporate | gift sales | 16,392 | 26,933 | |
| 1,156,759 | 1,157,760 | |||||
| 5. | RAISING FUNDS | |||||
| Other trading activities | 31.5.23 | 31.5.22 | ||||
| f | f | |||||
| Opening stock Closing stock |
150,844 (132,490) |
125,405 (150,844) |
||||
| 18,354 | (25,439) |
| Direct | |||||||
|---|---|---|---|---|---|---|---|
| Costs | |||||||
| E | |||||||
| Goods Purchased | for | Resale | 524,160 | ||||
| Miscellaneous | Purchases | 4,353 | |||||
| Packaging and | Carriage- | Retail Sales | 17,636 | ||||
| Marketing and |
PR | 14,192 | |||||
| Package and Carriage | —Trade Sales | 53,078 | |||||
| Artist Materials | 1,851 | ||||||
| Fundraising expenses |
417 | ||||||
| Trade show costs | 30,147 | ||||||
| 645,834 | |||||||
| SUPPORT COSTS | |||||||
| Governance | |||||||
| Other | costs | Totals | |||||
| f | E | f | |||||
| Other resources | expended | 115,325 | 8,000 | 123,325 | |||
| AUDITORS' REMUNERATION | |||||||
| 31.5.23 | 31.5.22 | ||||||
| E | f | ||||||
| Fees payable to | the charity's auditors for the audit ofthe charity's | financial | |||||
| statements | 4,400 | 4,000 | |||||
| Auditors' remuneration |
for non audit work | 3,600 | 2,000 |
| 2022 | 2021 | |
|---|---|---|
| E | f | |
| 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 | n | umber | ofempl | oyees during the year was as |
follows: | |||
|---|---|---|---|---|---|---|---|---|
| 31.5.23 | 31,5.22 | |||||||
| Staff | 18 | 27 | ||||||
| No employees received |
emoluments | in excess off60,000. | ||||||
| 11. | COMPARATIVES FOR | THE STATEMENT OF FINANCIAL ACTIVITIES | ||||||
| Unrestricted | Restricted | Total | ||||||
| funds | funds | funds | ||||||
| f | E | E | ||||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
66,512 | 80,087 | 146,599 | |||||
| Charitable activities |
||||||||
| Shop sales Commissions |
46,182 20,615 |
46,182 20,615 |
||||||
| Online retail sales | 171,016 | 171,016 | ||||||
| Trade sales | 795,611 | 795,611 | ||||||
| Art sessions | 97,403 | 97,403 | ||||||
| Corporate gift sales |
26,933 | 26,933 | ||||||
| Investment income |
14 | 14 | ||||||
| Total | 1,224,286 | 80,087 | 1,304,373 | |||||
| EXPENDITURE ON | ||||||||
| Raising funds | (25,439) | (25,439) | ||||||
| Charitable activities |
||||||||
| Goods Purchased for |
Resale | 566,854 | 566,854 | |||||
| Miscellaneous Purchases |
3,001 | 3,001 | ||||||
| Packaging and Carriage- Retail Marketing and PR Courier Fees |
Sales | 2,720 34,016 5,702 |
2,720 34,016 5,702 |
|||||
| Package and Carriage Artist Materials |
—Trade | Sales | 73,553 1,252 |
412 | 73,553 1,664 |
|||
| Other | 531,510 | 46,209 | 577,719 | |||||
| Total | 1,193,169 | 46,621 | 1,239,790 | |||||
| NET INCOME | 31,117 | 33,466 | 64,583 | |||||
| RECONCILIATION OF |
FUNDS | |||||||
| Total funds brought | forward | 144,691 | 10,173 | 154,864 | ||||
| TOTAL FUNDS CARRIED FORWARD | 175,808 | 43,639 | 219,447 |
| The total amount of employee benef E54,591). |
its received |
by its Key Mana | gement p |
ersonnel | was f5 | 9,365.02 (20 |
|
|---|---|---|---|---|---|---|---|
| 13. | FUTURE COMMITMENTS | ||||||
| At 31May 2022 the Charity had annual | commitments | under operating | leases as | follows: | |||
| 96 High Street | Vehicle | Total | 2021 | Total 2022 | |||
| E | f | E | E | ||||
| Within one year | 35,000 | 3,637 | 38,637 | 35,000 | |||
| Within 2-5 years | 161,863 | 10,305 | 172,168 | 175,000 | |||
| More than 5years | 21,863 | ||||||
| Total | 196,863 | 13,942 | 210,805 | 231,863 | |||
| 14. | TANGIBLE FIXEDASSETS | ||||||
| Fixtures | |||||||
| Plant and | and | Computer | |||||
| machinery E |
fittings f |
equipment E |
Totals E |
||||
| COST | |||||||
| At 1June 2022 | 6,800 | 46,298 | 8,457 | 61,555 | |||
| Additions | 3,736 | 3,736 | |||||
| Disposals | (6,800) | (12,599) | (19,399) | ||||
| At 31May 2023 | 37,435 | 8,457 | 45,892 | ||||
| DEPRECIATION | |||||||
| At 1June 2022 | 30,707 | 4,766 | 35,473 | ||||
| Charge for year | 4,406 | 1,440 | 5,846 | ||||
| Eliminated on disposal |
(12,602) | (12,602) | |||||
| At 31May 2023 | 22,511 | 6,206 | 28,717 | ||||
| NET BOOK VALUE | |||||||
| At 31May 2023 | 14,924 | 2,251 | 17,175 | ||||
| At 31May 2022 | 6,800 | 15,591 | 3,691 | 26,082 |
| 15. | STOCKS | |||||||
|---|---|---|---|---|---|---|---|---|
| 31.5.23 | 31.5.22 | |||||||
| f | f | |||||||
| Goods held for resale | 132,490 | 150,844 | ||||||
| 16. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||||||
| 31.5.23 | 31.5.22 | |||||||
| f | f | |||||||
| Trade debtors | 104,278 | 50,168 | ||||||
| 17. | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||||||
| 31.5.23 | 31.5.22 | |||||||
| f | f | |||||||
| Trade creditors | 38,630 | 25,461 | ||||||
| Taxation and | social security | 19,592 | 23,924 | |||||
| Other creditors | 97,245 | 35,347 | ||||||
| 155,467 | 84,732 | |||||||
| 18. | CREDITORS: AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | ||||||
| 31.5.23 | 31.5.22 | |||||||
| f | f | |||||||
| Other creditors | 99,209 | 169,394 | ||||||
| 19. | MOVEMENT | IN FUNDS | ||||||
| Net | ||||||||
| movement | At | |||||||
| At 1.6.22 | in funds | 31.5.23 | ||||||
| f | f | f | ||||||
| Unrestricted | funds | |||||||
| General fund | 175,808 | 71,683 | 247,491 | |||||
| Restricted funds | ||||||||
| Awards for all | 4,722 | (4,722) | ||||||
| Fundraising | 417 | (417) | ||||||
| Artist fund | 1,500 | (1,500) | ||||||
| Big Issue | 31,000 | (31,000) | ||||||
| Wates foundation | 6,000 | (3,290) | 2,710 | |||||
| Philip King CharitableTrust |
12,500 | 12,500 | ||||||
| 43,639 | (28,429) | 15,210 | ||||||
| TOTAL FUNDS | 219,447 | 43,254 | 262,701 |
| Incoming | Resources | Movement | ||||
|---|---|---|---|---|---|---|
| resources f |
expended f |
in funds f |
||||
| Unrestricted | funds | |||||
| General fund | 1,238,014 | (1,166,331) | 71,683 | |||
| Restricted funds | ||||||
| Awards for all | (4,722) | (4,722) | ||||
| Fundraising | (417) | (417) | ||||
| The National | Lottery Community | Fund | 32,207 | (32,207) | ||
| Artist fund | (1,500) | (1,500) | ||||
| Big Issue | (31,000) | (31,000) | ||||
| Wates foundation | (3,290) | (3,290) | ||||
| Philip King CharitableTrust |
12,500 | 12,500 | ||||
| 44,707 | (73,136) | (28,429) | ||||
| TOTAL FUNDS | 1,282,721 | (1,239,467) | 43,254 | |||
| Comparatives | for movement | in | funds | |||
| Net | ||||||
| movement | At | |||||
| At 1.6.21 | in funds | 31.5.22 | ||||
| f | f | f | ||||
| Unrestricted | funds | |||||
| General fund | 144,691 | 31,117 | 175,808 | |||
| Restricted funds | ||||||
| Awards for all | 4,722 | 4,722 | ||||
| Fundraising | 417 | 417 | ||||
| The National | Lottery Community | Fund | 3,534 | (3,534) | ||
| Artist fund | 1,500 | 1,500 | ||||
| Big Issue | 31,000 | 31,000 | ||||
| Wates foundation | 6,000 | 6,000 | ||||
| 10,173 | 33,466 | 43,639 | ||||
| TOTAL FUNDS | 154,864 | 64,583 | 219,447 |
| Comparative net mo |
vement in fu |
nds, included in the |
above are as follows: | ||
|---|---|---|---|---|---|
| Incoming | Resources | Movement | |||
| resources f |
expended f |
in funds f |
|||
| Unrestricted funds General fund |
1,224,286 | (1,193,169) | 31,117 | ||
| Restricted funds | |||||
| The NationalLottery Big Issue Wates foundation |
Community | Fund | 42,087 31,000 7,000 |
(45,621) (1,000) |
(3,534) 31,000 6,000 |
| 80,087 | (46,621) | 33,466 | |||
| TOTAL FUNDS | 1,304,373 | (1,239,790) | 64,583 |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1.6,21 f |
in funds f |
31.5.23 f |
|||
| Unrestricted funds |
|||||
| General fund | 144,691 | 102,800 | 247,491 | ||
| Restricted funds | |||||
| Awards for all | 4,722 | (4,722) | |||
| Fundraising The National Lottery |
Community | Fund | 417 3,534 |
(417) (3,534) |
|
| Artist fund | 1,500 | (1,500) | |||
| Wates foundation | 2,710 | 2,710 | |||
| Philip King Charitable |
Trust | 12,500 | 12,500 | ||
| 10,173 | 5,037 | 15,210 | |||
| TOTAL FUNDS | 154,864 | 107,837 | 262,701 |
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources f |
expended E |
in funds E |
|||
| Unrestricted | funds | ||||
| General fund | 2,462,300 | (2,359,500) | 102,800 | ||
| Restricted funds | |||||
| Awards for all | (4,722) | (4,722) | |||
| Fundraising | (417) | (417) | |||
| The National | Lottery Community | Fund | 74,294 | (77,828) | (3,534) |
| Artist fund | (1,500) | (1,500) | |||
| Big Issue | 31,000 | (31,000) | |||
| Wates foundation | 7,000 | (4,290) | 2,710 | ||
| Philip King CharitableTrust |
12,500 | 12,500 | |||
| 124,794 | (119,757) | 5,037 | |||
| TOTAL FUNDS | 2,587,094 | (2,479,257) | 107,837 |
| Detailed Statement of Financial | Activities | |||
|---|---|---|---|---|
| forthe Year Ended 31Ma | 2023 | |||
| 31.5.23 | 31.5.22 | |||
| f | E | |||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Donations Gift aid |
124,018 1,348 |
145,523 1,076 |
||
| 125,366 | 146,599 | |||
| Investment income |
||||
| Investment income |
596 | 14 | ||
| Charitable activities |
||||
| Charitable Activities |
1,156,759 | 1,157,760 | ||
| Total incoming resources | 1,282,721 | 1,304,373 | ||
| EXPENDITURE | ||||
| Other trading activities | ||||
| Opening stock Closing stock |
150,844 (132,490) |
125,405 (150,844) |
||
| 18,354 | (25,439) | |||
| Charitable activities |
||||
| Marketing and PR Artist materials Goods purchased for sale Carriage/courier Packaging and carriage Miscellaneous purchases Trade show costs |
14,609 1,851 518,858 12,656 63,360 4,353 30,147 |
34,016 1,664 566,854 5,702 76,273 3,001 |
||
| 645,834 | 687,510 | |||
| Other | ||||
| Wages Social security Pensions Bank charges Professional fees Bad debts Other staff costs Depreciation oftangible fixed assets |
427,837 4,881 13,392 5,844 |
375,111 28,510 18,330 3,363 2,345 300 3,354 10,686 |
||
| 451,954 | 441,999 |
| Detailed Statement of Financial | Activities | ||||
|---|---|---|---|---|---|
| for the Year Ended 31Ma | 2023 | ||||
| 31.5.23 | 31,5.22 | ||||
| f | f | ||||
| Support costs | |||||
| Other | |||||
| Insurance Light and heat Telephone Sundries Rent and rates Travelling Printing and stationery Maintenance, equipment |
hire an d rental | 864 5,552 28,631 13,103 50,954 9,416 (25) 6,830 |
5,849 44,671 12,033 47,221 7,619 6,616 5,711 |
||
| 115,325 | 129,720 | ||||
| Governance costs Auditors' remuneration Auditors' remuneration |
for non audit work | 4,400 3,600 |
4,000 2,000 |
||
| 8,000 | 6,000 | ||||
| Total resources | expended | 1,239,467 | 1,239,790 | ||
| Net income | 43,254 | 64,583 |