REGISTERED CHARITY NUMBER.. 1177900 the Trn5te and Flnancl 15tateme tor the Year End 31 ARTHOUSE nllmlted Bennewith 2018 Limited Istatutory Audrtor51 Upper Ground Floor 18 Farnham Road Guildford Surrey GU14XA
Content5 of the Financial Ststements for the Year Ended 31 Ma 2024 Pa¢e Chalrfs Report Report oftheTrustee$ 3 to 4 Reportof the IndèpendentAuditors Statementot Financial ActSvFtles Balance Sh#•t Cash Flow Ststement io Notes to the Cash Flow StstÈment li Note5 to th¢ Flnanclal Statements 12 to 21 Detailed Ststement of Flnandal Acllvliles 22 to 23
ARTHOVSE Unllml Chalr's Report ar Ended 31 Ma 2024 forth The speed the years go past 15 difficuh to believe. We have now competed 6 years as a charity that showcases the artistic talents and skSlls of adults who live with diverse learning and physical disabilities. The charity empowers Individu315 to create and collaborate, fostering a Sense of value, respect and pride. By promoting inclusion and purpose, ARTHOUSE Unlimited believes in improving health and happiness. The charity depends on sales and donatlons to continue providing new and inclusive opportunitie5. But hS8h inflation and a weak high street has not made it any easier for us to sutteed this year. As you will see from the financial results. we have managed to get an increase in income from our sales in total (through our High Street shop, trade customers and online customers). The Artists are delighted to see how positively their work is received in the marketplace around the country- and of course overseas as well. The key to our charity is of course our studio and artists who come regularly. Over the last twefve months. the charlty has continued to provide a high-level service supporting these individua15 achieved wlth a dedicated team of staff and volurrteer5. In our last report we outlined the ch3nge in the way our Arttsts had to pay for our service and that it might result in challenges for some familie5 and individuals being able to continue to attend the sessions. We have been tt5sured that 80% of the individuals who attended sessions in the previou5 year havo contlnued to attend. We also have new attendees all of whom are enjoying their experience and this of course includes the support of our dedicated Art Instructors. Both our inclusion officers are trained in the administration of emergenty medication for those artists who have lrfe threatening seizures as well as first aid and personal care for all. They addition311y provSde emotioThal support to all the artists daily some artists requiring extremely high SktrPPOrt. We continue to deliver 71W subsidised placements during the week consirtin8 of art sessions, customer service roles as shop assistants and role5 assisting with our online delivery tearn in our adjacent dispatch facility. We employ 3 art instructor5 who lead the studio art $25sions with the inclusion officer5, SilPPOrting. This structure has enabled us to continue the fundament31 work of the charity ensuring personal, emotional, physical and medical requirerneThts are met in a safe and inclusive environment. In Ortober of 2023 we tspened on Saturdays for the first time with an Art Instructor leadirTrg the moming and afternoon sessions and an Inclusion Officer supporting. Due to weekend commitments for many individuals. we implemented an "every other week" structure with two Bfoup5 alternatin8 each week. This provided the flexlbS1ity that familie5 and individuals preferred and enabled the charity to work with more individuals. Our thanks to our generous supporters who funded this start up until it wa5 self-funding. We look forward to expanding Saturday'5 5es5ions further. Annual Awards We held our Annual Artists. Award Ceremony in December where each artist was recognised wlth a ttrtificate of achievErnent and a party to celebrate. ThSs was another joyhjl event and an opportunity for the staff, volunteers and parentsto join with the artists to honour the indlvidual and collective achievements the charity. In the last year we have been able to show the artlsts, work on current and new products at two national trade show5 -Top Drawer at Otympia and the other the International Food Fair at the Excel certt. Artists were able to Visit and tslk about their work. ARTHOVSE Unlimited wa5 chosen as the charity partner of the Affordable Art Falr In May in Hampstead london where we were able to exhibit a collection of artwork5 for sale, alongside prestlgSou5 galleries and artists. Several artists were able to attend the fair and to see thelr work on display. As a resuk of all our business endeavours we have been able to reduce our long-term debt. and we are so pleased to pay back the Government Covid Loan thanks to a generous dor40r. Page I
ARTHOUSE Chalrfs Re forthe Year Ended 31 May ZQU The future is looking strong, and we are entering our new year with great enthusiasm. We have a strong and dedicated team of employees who are the key to our succe55 a5 a charity. Our leader - Becky Sheraidah FRSA- has been managing the charity since 2(K)S and we are grateful for her longterm and successful artistic direction. There have seen some major moves on the Trustee Board. We were sad to see Jonathan Pepper retire but he ha5. 1 am pleased to say. stayed on as a very active and valuable volunteer. Joanna Nagel also retired. she helped u5 to be so active in Art Shows in London amongst everything else She did for us. Also to retire after his S-year contribution was Steve Longdon one of the key handlers of the separation from the Meath Epilepsy Charity We are delighted that new Trustees have joined us...David lukes, Zoe Marsden. J850n McEachran and lan Stokes. Al bringing their special capability and knowledge with them to the Charity. Dr Colin Stokes M8E Chairman of Trustees Page 2
ARTrIOUSE Unlimrled ort of the Trustees Ended 31 Ma 2024 STRUCTURE. GOVERNANCE AND MANAGEMEfr Governing do¢ument The charity is controlled by hs goveming documenL a deed of trust and constitutes an unincorporated charity. RÉFÈRENCE ANO ADMINisfRATIVE DEfAILS Reglstered Charlty number 1177900 Prln¢lpal address 96 High Street Godalmin8 SUrY GU7 IDW Trustees Dr Colin Stokes MBE Jonathan Pepper (resigned 23.7.231 Anna Coss Stephen Longdon Ire5igned 12.7.231 Joanna Nagel (resigned 7.2.241 Zoe Alice Marsdelb (appointed 19.3.241 David Charles Jukes lappointed 21.9.231 lan Stokes (appointed 15.2.241 Audltors 8ennewlth 2018 Limited IStatutoryAudltOf51 Upper Ground Floor 18 Farnham Road Guildford Surrev GU14XA STATEMENT OFTRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Annual Report and the financial ststements in accordance with applicable law and United Kingdom Aecounting Standèrds Iunited Kingdom Generally Accepted Accountlf8 Practice). The law applicable to charities in England and Wales. the Charities Act 2011. Charity (Accounts and Reports) Reeulations 2008 and the provisions irf the trust deed requires the trustees to prepare financlal statsments for each financial year which give a true and fair view of the 5tste of affairs of the charity and of the incoming resource5 and application of SourCes. including the income and expenditure. of the charity for that period. In preparing those financSal statements. the trustees are required to select suttable accounting policies and then apply thern consistently,. observe the methods and principle5 in the Charity SORP,. make judgements and estimate5 that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any materlal departures disclosed and explained in the financial statements-, prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charty will continue in business. Page 3
Re rt of the Trustee5 forthe Year End d 31 Ma 2024 STATEMENT OFTRUSTEES, RESPON51BIUTIES- continued The trustee5 are re5pon5ible for keeping proper accounting record5 which disclose th reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements tomply with the Charities Act 2011, the Charity IAccount5 and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charrty and hence for taking reasonable Steps for the prevention and detertion of fraud and other irregularitie5. Approved by ord f the board of trustees on..... and signed on its behalf by.. Dr Colin Stokes MBE- Trustee Page 4
the Ind ART dentAu itors to theTrustees of OUSE Unlimlted Opinion We have audited the financial statements of ARTHOUSE Unlimited (the 'charity'l for the year ended 31 May 2024 which cornprise the Statement of Financial Activities, the 8alance She, the Cash Flow Statement and notes to the financial statements. including a Summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kin8dom Accounting Standard5 lun1 Kingdom GernerallyAccepted Accounting practi). In our opinion the financlal statements.. give 3 true and fabr view of the state of the charity'5 affairs as at 31 May 2024 and of its inctsrning resources and application of resources, ftsrthe year then ended,. have been properly prepared in accordance with United Kingdom GeTheral Accepted Accounting Prattice.. and have been prepared in accordance with the requi¥ements of the Charities Act 2011. Basls for oplnron We conducted our audlt In accordance with Intemational Standards on Audttin8 IUKI IISAS IUKII and applicable law. Our responsibilities under those stsndards a further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordan with the ethical requirements that are felevant to our audit of the financial statements in the UK, including the FRC'5 Ethical Standard, and we have fulfilled our other ethlcal responsibilities in accordaTrce with these requirements. We believe that the audlt evidence we have obtslned is Sufficient and appropfiate to provide a basis for our opinion. Concluslons relatSngto golng COnM In auditing the financial statements, we have concluded that the tru5tees' use of the 8oin8 concern basis of accounting in the preparation of the financial ststements 15 appropriate. ased on the work we have performed, we have not identified any material uncertainties relating to event5 Qr tonditlons that. individually or collectively. may cast significant doubt on the charity'5 abtlity to contlnue as a going Concem for a period of at least twelve months from when the financial statements are auth0ri5ed for issue. Our responsibilities and the responsibil¢ties of the trustee5 Wlth respect to going concern are described In the relevant 5ection5 of this report. Other Infomiati¢>n The trustee5 are fesponsible for the other information. The other information comprises the information included in the Annual Report. other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial staternents does not cover the other informatton and, except to the extent othen¥fse explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial st3tements, our re5POnsibi1ity is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi55tatements, we are required to determine whether this gives rlse to material mi5Statement in the financial statements thern5elves. If, based on the work we have perforrned, we conelude that there is a material misstatement of thi5 Other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exceptlon We have nothing to report in respect of the Following matters where the Charities (Accounts and 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 materfal respect with the financlal statements., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accountlng records and returns,. or we hève not received all the information and explanaisons we requife fof our audit. Page 5
rt otthe Inde ende to the Trustèes of ARTHOUSE Unll fjled Re5pon$iWlltles of trustees A5 explained more fully in the Statement of Twustees. Responsibilities. the trustees a responsible for the preparatlon of the fi'nancial statements which give a true and fair view, and for such illtemal control as the trustees determine is necessary to enable the preparation of financlal statements that are free frorn materSal misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assesslng the charity's ability to continue as a going concern. discloslng, as applicable. matters related to goin8 concern and using the going concern basis of accournting unless the trustees either intend to liquidate the charlty or to 3$e operations. or have no realist5c aernatIVe but to do so. Our re5ponsibilltles forthe audtt of the ffnanclal slatements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report In accordance with the Act and relevant regulation5 made or having effectthereunder. Our objectives are to obtsin reasonable assurance about whether the financial ststements as a whole are free from mateiial misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misst3tement when It exists. Misstatemenis can arise from fraud or error and are considered materi31 if. individually or in the aggregate, they could reasonably be expetted to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedu$ are capable of detecting irregularities, including fraud is detailed below.. We obtained an under5tsnding of the legal and regulatory frameworks ihat are applicable to the entity and determined the most SnifICant are those that relate to FRS 102 Section IA, pension laws and regulations and tax regulation5. We assessed the risk5 of rnaterial rnis5tatement in respect ol fraud as follows.. Enquiries made of management and those charged with governance a5 well as the payroll serwces - Analytical procedures were used to identrfy if there were any unusu31 or unexpeLted relationships Discussions with management to identify any fraud risk fatt0 of related party relationships and transactions Based on the resu$ of our risk assessment we designed our audit procedures to identify non-compliance with wch laws and regulations identified above. Enquiries were made of management and those charged with 8overnance. We corroborated our enquiries through the review of Board minutes and other papers provided. There was no contradictory evidence. We considered the risk of fraud through mana£ement override and, in response, we incorporated testing of manual journal entries into our audit approach. We tested year end journals as well as journal entries throughout the year. There were no transactions identified outside the normal course of busine5S. Based on the results of our risk assessment we designed our audit procedures to identify and to address material mi55tatemefits in relation to fraud. We incorporated an elernent of unpredictab¢lity in the selettion of the nature, tlmln& and extent of audh procedures. Where transaction meeting risk criteria were identified. we carried out further work such as additional testing to source information. A further description of our responsibilities for the audit rjf the financial statements is located on the Firnancial Reportin8 Council's website at www.frc.org.uk/auditorsiesponsibilities. This description forms part of our Report of the Independent Auditors. Page 6
Re ort of the Inde ndent Audltors to the Tru ARTHOUSE Unlimlted Use of our report This report is made 501ely to the charity's trnstees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work ha5 been undertaken so that we might state to the charity's trustees those matters we are requiTed to state to them in an auditors, report and for no other purpose. To the fullest exter¢t pemitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work. for this report. or for the oplnions we have formed. Bennewith 2018 Limtted1Statutory Auditors) Upper Ground Floor 18 Farnham Road Guildford Surrey GU14XA Date.. Page 7
ARTHO statement of Flnanclal Artivrll ftsrthe Year Ended 3.1 M 2024 31.5.24 Totsl funds 31.5.23 Total funds Urnrestricted funds Restrirted funds Notes INCOME AND ENDOWMENTS FROM Donation5 and legacies 81.508 42.058 123,566 125,366 Charitable activities Shop sales Comrni55itins Online retail sales Trade sale5 Art sessions Corporate gift sales Original sales 43,459 164.181 124.931 822.890 97,255 31.611 24.330 43,459 164,181 124,931 822,890 97.255 31,611 24,330 40,237 36,008 126.412 824.676 97.430 16.392 15.604 Investment income Other income 2.472 2 2,472 200 596 Total 1,392,837 42,058 1,434,895 1,282,721 EXPENDtWRE ON Raising funds 18,939 18,939 18,354 Charitable activities Goods Purchased for Resale Miscellaneous Purchase5 Packaging and Carriage Marketing and PR Courier Fees Package and Carriage- Trade Sales Artist Materials Fundraising expenses Trade show costs 576,952 7,990 9,055 52,603 3.949 49,998 1.669 576,952 7,990 9,055 52,603 3,949 49,998 1.669 524,160 4,353 17,636 14,192 53,078 1.851 417 30.147 20.853 20,853 Other 584,973 28.873 613.846 575.279 Total 1,326,981 28,873 1,355.8S4 1,229.467 INCOME 65.856 13,185 79,041 43,254 RECONCIUATION OF FUNDS Total fund5 brliught forward 247,491 15,210 262,701 219,447 TOTAL FUNDS CARRIED FORWARD 313,347 28,395 341,742 262,701 The notes forni part of these financial 5taternent5 Page 8
RTHOUSE Unll l ed 8alance Sheet 31 May 2024 31.5.24 Total funds 31.5.23 Total funds Urnrestricted funds Restrleted funds Notes AXED A55ET5 Tangible assets 14 15,166 15,166 17,175 CURRENT ASSETS Stocks Debtors.. amounts falling due within one year Prepayments and accrued income Cash at bank 15 16 113,463 157,235 13,965 203,010 113.463 157,235 13,965 231,405 132,490 104,278 10,777 252,657 28.395 487.673 28,395 516,068 500.202 CREDThORS Arnounts falling due within one year 17 1152,2651 1152.2651 1155,4671 NET CURRETrTh ASSErs 335,408 28.395 363,803 344.735 TOTAL ASSEfs LESS CURRENT UABIUTIES 350,574 28.39S 378,969 361,910 CREDITORS Amounts falling due after more than one year 18 137,2271 137.2271 199.2091 NET ASSETS 313,347 28,395 341,742 262.701 FUNDS Unrestritted funds Restricted funds 19 313,347 28,395 247,491 15,210 TOTAL FUNDS 341.742 262,701 The financial statements were approved by the Board of Trustees and authorised for Issue . and were si8ned on behalf by.. on Dr Colln Stokes MBE- Trustee The notes form part of these financial statemerts Page 9
ARTHOUSE Unll Ited Cash Flow Statement for the Year Ended 31 Ma 2024 31.5.24 31.5.23 Note5 Cash flows from OPeran8 arthAtles Cash generated from operations 117,6551 25,043 Net cash (used ¢nl/provided by operating activities 117.6551 25.043 Cash flowsfrom Investing artivttles Purchase of tangible fixed assets Sale tsf tangible fixed assets 13,7971 2CMI 13.7361 6,797 Net cash lused inllprovided by investing activitles 13,5971 3,061 Chan8e In cash and $h equlvzlents in the reportlng period Cash and cash equlvalerrts at the beginning of the r¢portln8 perlod 121,2521 28.104 252,657 224,553 Cash and cash equivalènts at the end of the reporting period 231.405 252.657 The notes form part of these financial statements Page 10
ARThOU Illmlted Notes to the Cash Flow Stateme for the Year Ended 31 May 2024 RECONCIUATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVMES 31.5.24 31.5.23 Net Income for the reporti perfixl las perthe Statement of Flnanclal Activitie51 Adjustments for: Depreciation charges Profit on disposal of fixed assets Decrease in stocks Increase in debtors IDecreasellincrea5e in creditors 79.041 43,254 5.805 12001 19.027 156.1441 165.1841 18.354 142,9591 sso Net cash lused Inl/pmMded by operations 117,6551 25,043 ANALY515 OF CHANGES IN FUNDS At 1.6.23 Cash flow At 31.5.24 Net cash Cash at bank 252.657 121,2521 231,405 252,657 121,2521 231,405 Total 252.6S7 121.2521 231,405 The notes form part of these financial ststements Page 11
ARThOUSE Notes to the Finantlal Statements for the Year Ended 31 Ma 2024 ACCOUNTING POUCIES Basls of preparing the financlal statements The financial statements of the charity. which is a public benefrt entity under FRS 102, have been prepared in accordance with the CharStSes SORP IFRS 1021 'Accounting and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applScable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK Ènd Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical mst convention. Income l income is recognSsed in the Statement of Financial Attlvlties once the charity has entitlement to the funds. it is probable thai the income will be received and the amount can be measured lIably. Legacies are accounted for when received. Expendlture Liabilities are recognised as expendlture as soon as there is a legal or constructive obligation comrnittlng the char]ty to that expenditure, it 15 probable that a transfer of economic benefits will be required in Settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified undeT headin8S that aggregate all cost related to the tatÈgory. Where costs cannot be dirertly attributed to particular headSngs they have been allocated to activities on a basis c0ft5i5tent with the use of resources. Stock consists of good for resale. Stocks are valued at the lower of cost and net alIsable value. Taxation The charity is exempt from tax on tts charitable activities. Fund a¢¢ountlng Unrestricted funds can be used in accordance wrth the charitable objectives at the dis¢tIOn of the trustee5. Restricted funds can only be used for partlcular restricted purposes within the objects of the charity. Restrictions arise when specified bythe donor or when funds are raised for particular restrlcted purposes. Further explanation of the nature and purpose of each fund 15 included in the notés to the financial statements. Penslon ¢0#$ and other post-reiiremeni benefftts The charty operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activitie5 in the period to which they relate. Boun back loan scheme The Charity received Government 5UPPOrt during the year ended 31.05.2021 in the form of the Bounce Back Loan Scheme. Some payment5 have been made In the current period and the remaining balance at the year end is £Nil.12023.. £43,981.52). Page 12 contlnued...
ARTHOUSE Unlimlted Notes to the Flnanclal Ststements- ¢ontlnued forthe Year Ended 31 May 2024 DONATIONS AND LEGACIES 31.5.24 31.5.23 Donations Gift aid Grants 71.508 124,018 1,348 52,058 123.S66 125.366 Grants received. included in the above, are as follows.. 31.5.24 31.5.23 Reaching Comm Garfield Westorn ChildwickTrust 22,058 20,(KKJ iO,(KKJ 52,058 INVESTMENT INCOME 31.5.24 31.5.23 Investment income 2.472 596 INCOME FROM CHARITABLE ACTWMES 31.5.24 31.5.23 Acrivlty Shop sales Commissions Online retail sales Trade sales Art sessions Corporate gift sales Original 5ale5 Charitable Activitie5 Charitable Activities Charitable Activities Charitable Activities Charitable Activities Charitable Activities Charitsble ActNities 43.459 164.181 124.931 822,890 97.255 31,611 24.330 40,237 36,008 126,412 824.676 97.430 16.392 15,604 1,308,657 1,156.759 Page 13 continued...
ARThOU5E Unll Ited Notes to the Flnanclal Ststements- corrtinued forthe Year Ended 31 Ma 2024 RAISING FUNDS RaIn8 donatlons and le8acie5 31.5.24 31.5.23 Support costs 180 OthertradSn8 athvltles 31.5.24 31.5.23 Opening stock Closing Stock Support costs 132.490 1113,4631 12681 150,844 1132,4901 18,759 18,354 Aggregate amounts 18,939 18,354 CHARffABLE A1VITIEs C05rs Direct Costs Goods Purchased for Resale Miscellaneous Purchases Packaging arsd Carriage Marketing and PR Courier Fees Package and Carriage- Trade Sales Artist Materials Trade show costs 576,952 7,990 9.055 52.603 3,949 49,998 1,669 20.853 723.069 SUPPORT COSTS Govemance costs Other Totals Raising donations and legacies Other trading activities Other resources expended 180 12681 137.211 12681 145.211 137,123 145.123 Page 14 continued...
ARThOU Unllmlted Notes to the Financlal Ststements- contlnu forthe Year Ended 31 May 2024 AUDITORS. REMUNERATION 31.5.24 31.5.23 Fees payable to the chartty's auditors forthe audit of the charity's financ(al statements Audltor5' remuneration for non audit work 4.400 3.600 4.400 TRUSTEES. REMUNERATION AND BENEFITS The were no trustees. remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023. Trustees, exptnses During the year £Nil was reimbursed for expenses. £Nil in the previous year. io. STAFF COSTS 2024 2023 Wage5 and salarie5 Social security Pension costs Other staff costs 382.811 33,497 23,IXII 5,745 375.110 28,510 18.330 3.354 Total 457,121 425.305 The average monthly number of employees during the yearwas as follows: 2024 16 2023 18 Staff The nurnber of employees whose employee benefits (excludin8 employer pension costs) exceeded £60.(KK> was.. 2024 2023 £80,000- £90.000 ii. COMPARATIVES FOR THE STATEME OF FINANCIALAcnvmES Unre5trirted funds Restricted funds Totsl funds INCOME AND ÉNDOWMENfs FROM Donations and legacies 80,659 44,707 125.366 Charitable activffÉles Shop sales Commissions Online retail 5ale5 Trade sales Art sessions Corporate gift sale5 ortginal sales 40,237 36,(JJ8 126,412 824,676 97,430 16,392 15,604 40,237 36,008 126,412 824,676 97,430 16,392 15,604 Page 15 continued...
ARThOU5 mfted Notes to the Fing.nclal Statements- corÉlw rthe Yea¥ Ended 31 May 2024 ii. COMPARATIVES FOR THE STATEME* OF FINANCIALACTIVITIES- contlnued Unrestricted funds Restricted funds Totsl lunds Investment income 596 596 Totsl 1,238,014 44.707 1,282,721 EXPENDITURE ON Raising fund5 18.354 18,354 Charitsble actkntles Goods Purchased fo¥ Resale MislIaneOUS Purchases Packaging and Carriage Marketing and PR Package and Carriage-Trade Sales Artist Materials Fundraising expense5 Trade show costs 524,160 4,353 17,636 14,192 53,078 1,851 524,160 4.353 17,636 14.192 53.078 1,851 417 30,147 417 30.147 Other 502.560 72,719 575.279 Total 1.166.331 73.136 1,239,467 INCOMEIIEXPENDIWREI 71.683 128.4291 43,254 RECONCIUATION OF FUNDS Total funds brought forward 175,808 43,639 219,447 TOTAL FUNDS CARRIED FORWARD 247.491 IS.210 262,701 12. KEY MANAGEMENT The total amount of employee benefits received by its Key Management personnel was £88,373 12023.. £S9,36SI. Page 16 continued...
ARTHO Notes to the Financlal Staternents- contlnued forthe Year Ended 31 Ma 2024 FUTURE COMMITMEfrirs At 31 May 2024 the Charity had annual commitments undei operating leases as follows.. 96 High street Vehicle Unit 2 Angel Court Total 2024 Total 2023 Within one year Wlthirn 2-5 years More than 5 years 35,OLY) 126.863 3,637 6,668 13,000 34,049 51,637 167,581 38,637 172,168 Total 161,863 10.305 47,049 219.218 210,805 TANGIBLE FIXED ASSETS Fixtures and fittings Computer equipment Totals COST At l June 2023 Additions Disposals 37,435 3,797 11,yJoi 8,457 45,892 3,797 11,9(M)I At 31 May 2024 39,332 8,457 47.789 DEPRECIATION At l June 2023 Charge for year Eliminated on disposal 22,511 4,482 11,9001 6,2( 1,324 28.717 5.806 11.9001 At 31 May 2024 25,093 7,530 32,623 NET 8OOKVALUE At 31 May 2024 14.239 927 15.166 At 31 May 2023 14,924 2.251 17.17S Depreciation is provided at the following annual rates in order to write off the cost less estlmated re5idval value of each asset over its estimated useful life. Furniture, flttin8s and tsffite equipment 2033.3% straight line Pa8e 17 continued...
ARThOUSE Unlimrled Notes to the Financial Statements. corrtlnued for the Year Ended 31 M 2024 STOCKS 31.5.24 31.S.23 Goods held for resale 113,463 132,490 16. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.5.24 31.5.23 Trade debtors VAT 149,643 7,592 104,278 157,235 104,278 17. CREDITORS.. Amouts FALUNG DUE WITHIN ONE YEAR 31.5.24 31.5.23 Trade creditors Taxation and social security Other creditors 122,958 4,473 24.834 38,630 19,592 97.245 152,265 155,467 i& CREDITORS: Amoumfs FALUNG DUE AER MORE THAN ONÉ YEAR 31.5.24 31.5.23 Other cieditors 37,227 99,209 19. MOVEMENT IN FUNDS Net movement in fund5 At 31.5.24 At 1.6.23 Unrestricted funds General fund 247,491 65,856 313,347 Restrlcted funds Wates foundation Philip King CharitableTru5t Garfield Weston 2,710 12,500 12,7101 14,1051 20,0(X) 8.395 20.000 15,210 13,185 28,395 TOTAL FUNDS 262.701 79,041 341,742 Pa8e 18 continued...
ARTrIOU E Unllmited Notesto the Flnanclal siatèments- contlnued for the Year E_nded 31 May 2024 19. MOVEMENT IN FUNDS- continued Net movement In fund5. included in the above are as follows-. Incoming resources Resour5 expended Movement in funds Vnrestrl¢ted fiJnd5 General fund 1,392,837 11,326.9811 65,856 Restricted funds Wates foundation Philip King CharitableTrust Reachin8 Community Garfield Weston 12.7101 14,1051 122,0581 12.7101 14.1051 22,058 20.000 20,0(K) 42.058 128,8731 13,185 TOTAL FUNDS 1.434,895 11,355.8541 79,041 Comparatfves for movement Sn funds Net movement in funds At 31.5.23 At 1.6.22 Unre$trlcted funds General hjnd 175,808 71,683 247.491 Restrlrted funds Awards for all Fundraising Artlst fund Big Issue Wates foundation Philip King CharitableTrvst 4,722 417 i.S(KJ 31.000 14,7221 14171 11,5001 131,(L)01 13,2901 12.500 2.710 12,5(X) 43,639 128,4291 15,210 TOTAL FUNDS 219.447 43.254 262.701 Page 19 continued...
ARTHOUSE Unlimited Note5to the Flnanclal Statements- continued for the Year Ended 31 Ma 2024 19. MOVEMENT IN FUNDS-continued Comparative net movement in fund5. included in the abtsve are as follow5.' Incoming resource5 Resources expended Movement in funds Unrestrlrted fvnds General fund 1,238,014 11,166.3311 71.683 Restricted ft4nds Award5 for all Fundraising The National Lottery Cornmunity Fund Artistfund Big Issue W3tes foundation Philip Kin8 Ch3ritableTrn5t 14,7221 14171 132.2071 11,5WI 131.0(K)I 13,29Jl 14.7221 14171 32.207 11,5001 131.0001 13.2901 12.500 12,S(KJ 44,707 173,1361 128,4291 TOTAL FUND5 1.282.721 11.239.467) 43,254 A eurrent year 12 months and prior year 12 months combined position 15 as follow5.. Net rnovernent in funds At 31.5.24 At 1.6.22 Unlestricd funds General fund 17S,808 137,539 313.347 Restrlrted fvnds Awards for all FundraisinR Artist fund Bi8 Issue Wates foundation Philip King CharitsbleTrust Garfield Weston 4,722 417 1.500 31,000 14,7221 14171 11.5001 131.0001 16,0001 8,395 20,000 8,395 20,(KK) 43,639 115.2441 28,395 TOTAL FUNDS 219,447 122.295 341.742 Page 20 continued...
ARTHOUSE Unllmfted Notestothe Flnanclal Statements- continued forthe Year Ended 31 ma.y 2024 19. MOVEMENT IN FUNDS- continued A Current year 12 months and prlor year 12 months comblneLI net movement fund5, included in the above are 85 follows.. Incoming resources Resources expended Movement in fvnds Unrestrl¢ted fund5 General fund 2.630.851 12,493,312) 137,539 Re5trided funds Awards for all Fundrai5in8 The National Lottery Communlty Fund Artist fund Big Issue Watos foundatlon Philip King CharitableTrust Reathing Community Garfield Weston 14,7221 14171 132,2071 11,S(K)I 131,INJOI 16,0Tr)1 14.1051 122.0581 14.7221 14171 32.207 11.5001 131.0001 16,0(Kil 8.395 12,500 22,058 20,000 20.(KKJ 86,765 1102,(M191 115,2441 TOTAL FUNDS 2,717,616 12.595.321) 122,295 20. RELATED PARTY DISCLOSURES 10,00012023.- NIL) water bottlè5 were sold to Univar Solutions Inc where one of the trustees is a presldent and CEO. The total transaction induding carriage comes to £136,60512023.. NIL and was condutted at arm's length. 21. ULTIMATE CONTROLUNG PARTY The Board of Tnjstees are considered to be the ultlmate Controlling party. 22. FUNDS General Fund The general fund is used for the day to day running of the Charitv. Wates Foundatlon Reeelved for the provision of support work training for the Art Instructors. Phlllp King CharltableTNst This fund is for renovating existing studio 3nd shop space at 96 Angel Court. This indudes flexible moveable fixtures that have longevitythat can move with AHU if AHU moves one day. Garfield Westorl This wa5 a grant to provide funding for sessions. Reathlng Community This is the final year of the National Lottery Grant to support salaries for inclusion staff to enable the expansion of Art sessions to Saturdays. Page 21
ARTHOUS Unllmlted Detalled Ststement of financsal Artlvlties lorthe Year Énded 31 Ma 2024 31.5.24 31.5.23 INCOME AND ENDOWMETr¥rs Donatlons and leBacles Donations Gift aid Grants 71,508 124.018 1.348 S2,OS8 123,566 125,366 Invertment In¢ome Investment income 2,472 596 Charltable a¢Wvltles Charhable Activttres 1,308.657 1,156,759 Other Income Galn on sale of tangible fixed assets 200 Total In¢omlbW resources 1.434,895 1,282,721 EXPENDITURE Other tradlngactlvities Opening stock C105ing stock 132.490 1113.4631 150,844 1132,4901 19,027 18,354 Charitable artivities Marketing and PR Artist materials Goods purchased for sale Carriagelcourier Packaging and carriage Miscellaneou5 purchases Trade show costs Design 42,926 1,669 576,952 3,949 59,053 7,990 20,853 9.677 14,609 1,851 518,858 12.6S6 63,360 4.353 30.147 723,069 645.834 Other Wages Social security Pensions Bank charges Professional fees Carried forward 382,811 33,497 20,632 3.547 13.496 453,983 427,837 4,881 13,392 446,110 This pa£e does not form part of the statutory financial statements Page 22
ARTHOUSE Unlimit Detsiled Statement of Flnancial Artrvitles tor the Year Ended 31 Ma 2024 31.5.24 31.5.23 Other 8rought forward Other staff costs Loan interest Depreciation of tsngible fixed assets 453,983 8,290 557 5,805 446,110 468,635 451.954 Support cost5 Other Insurance ght and heat Telephone Sundries Rent and rates TVe111Thg Printing and stationery Maintenance, equipment hire an d rental 4,865 12,352 29,294 8.861 51.442 7,949 4,375 17.985 864 5,552 28,631 13.103 50.954 9.416 1251 6.830 137.123 115.325 Governance c05tS AudY(ors' MneratIOn Auditors, remuneration for non audffc work 4,400 4,4CM) 3.6 Total resources expended 1,355,854 1.239.467 Net rncome 79,041 43,254 This page does not fomi part of the statutoryfinancial statements Page 23