THE ARTS SOCIETY SIDMOUTH TrfEMTS SOCIErY SiJvCxil Registered CIO Charity 1178103 Trustees, Report and Financial Statements For the year ended 31st March 2024
The Arts Society Sidmouth CIO Trustees, Report for the period 1 st April 2023 to 31 st March 2024 References and Admlnistratlve Inforniatlon Trustees during the year were: Graham Gill Philip Hughes Barbara Murphy Sheila Hughes Annette Cross Chair of Trustees Deputy Chair & Finance Officer Resigned 19.02.24 Principal Office Ruan House, Cliff Road, Sidmouth EX10 &JN email sidrnouth@the Charity Number 1178103 Bankers CAF Bank Limrf(ed, 25 Kings Hill Avenue. Kings Hill, West Malling, Kent, ME19 4JQ
Report of the tru8te•s for the y•ar and 318t March 2024 The Trustees present their CIO annual report and financial statements for the year ended 31 st March 2024. The financial statements have been prepared in accordance with the policies set out in the Statement of Trustee responsibilities and comply with the CIO'S Constitution. the Charities Act 1993 and The Charities (Accounts 8nd Reports) Regulations 2008. Structurng gOvWnan and management The CIO is a registered chlty. number 1178703, and operates under the constitution adopted by the members of The Arts kniety Sidmouth on 7th February 2018 New trustees are appointed by the existing trustees and serve for up to three yea - each year one third of the trustees stand down and they may then put themsefves fonvard for a second term. The Constitution provides for between 5 and 12 trustees. The trustees meet two or three tlmes each year, to agree the broad strategy and areas of activity for the CIO, the functions of grant application assessment and award, investment, rewves. risk rnanagernt policies and performance. The day to day administration of the CIO'S programme is delegated to a Committee whose composition and modus operandi are described in the Appendix to the Constitution. The Gommrtt88, a dedicated team of volunteers has met monthly to coordinate another excellent programme of lectures and study days stwctured by Anthea Cridlan and Catherine Bech respectively. All Trustees and Committee Members give of their time freejy." no Trustee remuneration or expenses were paid during the year, no Committee remuneration was paid during the year and Committee expenses are summarised in the "Other expenditur8" Section of th8 accounts. It had been intended to update the ConstitLrtion for TASS to recognise recent changes. However, the Head Office of The Arts Society has proposed a revised constttution which is due to be voted on by Societies on 03 June 2024. Once the result of this vote is declared, in conjunction with the national AGM in August. we then know what changes need to be made to our own Constitution. This will therefore be updated in September and will be put to our members at an EGM in October/November. Objective8 and activities The Society promotes the education of the wider public in respect of decorative and fin8 arts with the intention that this should lead to a greater appreciation of the wealth of our heritage for the benefit of the public.
The Society carries out these obiectlves by atrariging each year nlne monthly lectures, two Study Days and IrKlividual Arts Visits, and by pvIdIng grants to further aesthetic education. to study decorative & fine arts. to further heritage preservation and for arts education in schools. All lectures and study days are rated by the attendees to wJsist In maintaining a high quallty, and the results in 2023124 were again invariably very positive Grwrt making policy The receipt and consideration of grant applications is urKlertaken by the Committee with applications satisfying the assessment crlteria being passed to the Trustees for approval and execution. Grants awarded in 20/23 were £600 for the River Sid Walkway Project which is an ongoing development this year. Financial review Membership numbers fell from 241 to 228 with Donations and Subscriptlon Income of £11101. a 1 % reduction on the prevlous years. Expenditure on charltable activities Incr8ased by £702 (+ 5.4%)) The end of year Reserves at £17601 are equlvalent to 9.9 mnths of overall expenditure. The Society's Financial Reserves Pollcy is to rnalntaln reserves at tevel of between 3 and 9 months of annual expendrture. However, whilst the Reserves Polfcy has been met this financial year, It should be recognised that our membership numbers and income are falling and that we made a loss of £3289 in the year. These are ominous slgns which need to be addressed urgentty to avoid reserrfes being depleted over time and the future of the Society being threatened. Further grants are currently on hold until the 24/25 financial PiGture becomes clear. The Lecture and Study Day programmes for next year are secure but it has been necessary to increase the annual subscription by £5 to £45 for 24125. This still remains excellent value being only £5 per lectu. Relmbursement of tax under the Gfft Ald Scheme is obtained annually and the appropriate declarations are held for each taxpayer. The amount for 23124 was £1267 up 8% on the prevk>us year.
Public benefit The Trustees have paid due regard to the relevant Charity Commission guidance, and consider that the activities outlined in this report meet the public benefit requirement for charities. ststement of Trustees responsibilities The Trustees are responsible for preparing the Trustees, Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methcmjs and principles in the Charities 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 ongoing basis unless it is inappropriate to presume the Charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy, at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity accounts SORP FRS102. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irTegularities. Signature and Declaration I declare, in my capacity of charty trustee, that the trustees have approved the report above and have authorised me to sign it on their behalf. Signature: Full name: Graham Richard Gill Position: Chair of Trustees Date: 10.05.2024.
THE ARTS SOCIETY SIDMOLITH REG15fERED CIO: 1178103 RECEIPTS AND PAYMENTS ACCOUP FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Reserves Total 31.03.2024 Totsl 31.03.2023 RECEIPTS 31.03.2024 Donations and Subscriptions 11.l(K).75 11,i(Ki.75 11,622 Investment Income 237 Other Income 6.418.05 6.418.05 5,213 TOTAL RECEIPTS 18,127.86 18,127.86 17.072 PAYMENTS On Charitsble Actimties 13,556.13 13,556.13 12,854 Other Expenditure 7.861.09 7.861.09 5.983 TOTAL PAYMENTS 21.417.22 21.417.22 18,837 NET OF RECEIPTSIPAYMENTS 13.289.361 13.289.361 {1,7651 8alance as at l April 2023 20.890.50 20,890.50 22.655 BALANCE AS AT 31 MARCH 2024 17,601.14 17,6DI.14 20,891
THE ARTS clETh SIDMOLITH REGISTERED CIO: 1178103 STATEMEr F ASSETS AND UABILMES AS AT 31 MARCH 2 24 AsAt 3.2023 CURRE ASSETS 31.03.2024 COIF Charities Deposit Fund 10.844.11 10.341 Cash in Hand 105.90 Loan to the Patricia Fay Memorial Fund 5,(MXI.IY) CAF Cash Extra Account 630.63 707 CAF Gold Account 1,020.50 4,543 Totsl Current Assets 17,601.14 20,891 UABILITIES Net Asset Surplus (Defidt) 17,601.14 20,891 REPRESEf4TED BY FUNDS Unrestricted General 12,601.14 15,891 Unrestricted- Designated IPatricia Fay Memorial Fund) 5,OCM).00 Totsl 17,601.14 20,891 Approved by the board of Trustees and $18ned on thelr behalf br. Philip Hughes, Treasurer & Trustee Graham Gill, Chairman & Trustee Date
' THE ARTS SOCIETY SIDMOUTH REGISTERED CIO: 1178103 NOTE5 TO AcCOuPs FOR THE YEAR ENDED 31 MARCH 2024 INCOME Unrestrlcted Reserve5 Total 31.0 31.03.2024 24 Donatlons and subKrlptlons 31.03.2023 subscriptions Gift Aided Subscriptions not Gift Aided Subscriptions Paid in Advance Joining Fees Gift Aid Tax Recovered Visitors Donations Donatlons and substJlptlons toial 4.660.CK) 4.477.75 4,660.CM) 4.477.75 4,680 160 160 1,170 202 21XI.IXI 1.267.IX) 496.IX) 11 I.75 200. 1,267. 496.crfj 11 IW.75 Investments Interest Income 237 Invesbnents Totals 609.06 237 Othw Income Grants Received Coffee Donations Educational Study Days Christmas Lunch Committee Lunch * Educational Trips Sundries -Income oth Income Totsls 250 410 2,551 1,998 357 52 293.05 3.289.(Ml 2.259. 416.IX) 293.05 3,289. 2,259.LK) 416.th) 156. 156.fK) 6,418.05 6,418.05 5,623 Income Grand totals 18,127.86 18,127.86 17.072 • Notes Committee lunch self balancin8. £357 tsken in year ending 2023
THE ARTS soaEff SlDMOlml REGISTERED CIO: 1178103 NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Reserve 31.03.2024 EXPENDITURE On charllable artlvlties Decomtlve & FlneArts & Aesthetlc Educatl lerturer's Fees Total Total 31.03.2024 31.03.2023 3.450.c#J 999.22 3,450.(KI 999.22 3,295 1,140 1,395 4,134 Lecturer's Expenses Hire of Lecture Rooms Arts Society Affiliation Fees Grants 1.395.LKI 3.962.04 1,395.C(I 3,962.04 Art & Technology Lecture Audio V15ual Costs Post Lecture Lunches & Discussion Web Site 223.50 223.50 144 1,695.80 1,140.57 90.(M) 1,695.80 1,140.57 90. 1,284 957 Totsl 12,956.11 12.956.13 12,439 Presemitl¢ oIArtlstlc Herftoqe Grants Sidmouth Coastal Walkwèy Project Total Schoolond un1veItyArts Education Grants Schools Projects Total 415 415 Total Expendlture on tharltsble actS¥ltles 13,556.13 13,S56.13 12,854
Other expendlture Cornmittee & Governance Committee Lunch expenditure. Independent Examiner's Fees Office & Running Expenses Insurance 463.75 463.75 392 773.00 773.00 420.00 420.(X) 420 23.35 23.35 69 184.CX) i84.) 173 Catering and coffee Costs Bank Charges Christmas Lunch Expenditure Educational Study Days Expenditure Educational Trips Expenditure Membership Services -Comrnunications Membership Services-AGM & Events Total Other expendlture 176.99 176.99 173 97.20 97.20 126 2,300.00 3,044.80 156. 2,3C.1xl 3,044.80 156.00 1.490 2,627 114.00 114. 310 108.Th) 108.00 202 7.861.09 7,861.09 5,982 Expendlture Grand totsls 21,417.22 21,417.22 18,836 * Notes Committee Lunch self balancing
CHARITY COMMISSION; Independent examiner's FOR ENGLAND AND WALES | report on the accounts Section A Independent Examiner s Report Report to the trusteesl members of Th• Arts Soclety Sldmouth On accounts for the year andod 31* March 2024 Charity no lif any) 1178103 Set out on pages I report to the trustees on my examination of the accounts of the st charity (Xhe Trust") for the yaar ended 31 March 2024. Responsibllltles and As the tharity trustees of the Trust, you are reSnble for the preparation basis of report of the attounts in xcordance with the r4uirements of the Charities Act 2011 (Yhe Acr}. I report in respect of my examination of the Trust's )Unts carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed the applicable Directions given by the Charty Commission under section 145{5llbl of the Act. I have Mpleted my examination. I confimi that no material matters have come to my attents'on "} in connection with the examinab.on which 9ives ITE cause to believe that in. any material resFEd: aco)unts"ng records were not kept in a(rdance yth section 130 of the Act or the accounts do not Cord wrth the accounting records Independent examinerfs statement I have no COnmS and have come across no other matters in connection with the examination to whith attents'on should be drawn in order to enable a proper understanding of the acts)unts to be reached. . Please delete the words in Ihe brad(ets rf they do not apply. Signod: Name: HiiIP Ro Relevant professlonal qualificallon(51 or body (rfany): Address: IER October 2018