1 2 3 We thank Adem Holness and Rebecca Bruneel for their conth"bukn"ons to Blaze AJts as Trustees and we wish them all the best in their future. Lydia Hesketh Co-chwr of the Board of Trustees ● ● 5 6 7 8 - - - - 9 10 11 12 13 14 . 15 - - - - - - 16 Statement of Trustees, responsibilities The law applicable to charrties in England & Wales requires the truslees to prepare financial Statements for each financial year which give a true and fair view of the state of affairs of the charty and of the incoming resources and apPI￿ation of resources of the charity for that period. In preparing these linancial statement4 the trustees ￿e required to: select suitable accounting policies and then apply them consistently obsetve the methods and principles in the Chartties SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent state whether appI￿able UK accounting standards have been followed, subject to any material departures disclosed and explained in the financi￿ statements. prepare the financial 51atetrbents on the going concern basis unless rt is inappropriate to presume that the chanty will continue in business. At the time of approving the linancial statements and having due regard to the impact of Covid-19, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable hjture. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financiai statements. The trustees are responsible for keepirg proFer accounting records that disclose with reasonable accuracy at any time the financial posttion of the charty and enable them to ensure that the financial statements Comp￿ with the Charrties Acl ?0 l l. and the Charrties (Accounts and Reports) Regulations 2CK18. They are also responsible tor safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrty of the financial information included on the charrtls websrte. Legislation in the Unrted Kingdom governing the preparation and di55emination of financial statements may drffer from legislab'on in other jurisdiction& Stalemenl as to disclosure ol inlormalion to Examiners In so far as the Truslees are aware at the time of approving the Trustees, annual report: there is no relevant information, being information needed by the Examiner in conneclion with preparing their repor( of which the charty"s Examiners are unaware, and the Trustees have each taken all the steps thal they are obliged to have taken as a Director in order to make Ihemsefves aware of any relevant information and to establish that Ihe charitys Examiners are aware of that trnformat￿n. On behalt of the Board of Trustees: Derri Burdon CO- Chair of Trustees Date.. I 9th May 2021 Lydia Hesketh k-•- . CO- Chair of Trustees 17 ## Independent Examiner's Report to the Trustees of Blaze Arts I report to the charity trustees on my examination of the accounts of the charity for the year ended 31[st] July 2020 which are set out on pages 19 to 29. ## Responsibilities and basis of report As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 19/05/2021 ## **Alison Buckley FCA** Independent Examiner Mitchell Charlesworth LLP 44 Peter Street Manchester M2 5GP 18 19 Balance Sheet as at 31st July 2020 2020 2019 2019 CURRENT ASSETS Debtor5 Cash al bank and in hand 6,716 7,860 41.591 62,842 CREDITORS Amounts fallin9 due in one year NET CURRENT ASSETS 20.454 32,998 TOTAL NET ASSETS 32,998 FUNDS Unreslrided Restricted g54 19,500 32,gg8 TOTAL FUNDS 32,998 The notes on pages 22 to 29 form part of these accounts. Approved by the Board of Trustees and authonsed for issue on j g tkn "Ll and signed on their behalf by Derri Burdon Co-chair of the Board of Trustees Lydia Hesketh Co-chair of the Board of Trustees 20 21 Notes to the Financial Statements for the year to 31sI July 2020 I. AccDllnling Policies Blaze Arts is a charitable incorporated company, registered in the England and Wales, The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities are described in the Trustees Report Basis of Preparation The financial staterllents have been prepared in accordance with Accounting and Reporting by charities.. Statement of Recommended practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 March 2018) and the Charities SORP (FRS 102). Blaze Arts meets the definition of a public benef it entity under FRS 102, assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s), The financial statemenls are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £, Going concerr) These accounts are prepared on the going concern basis. At the time of approving the financial statements and having due regard to the impact of Covid-19, the trustees have some uncertainty that the charity has sufficient resources to conlinue in operational existence for the foreseeable future. The trustees continue to adopt the going concern basis of accounting in preparing the financial statements and monitor closely the financial position. Incoming resources Incorlle is recognised in the accounting period in which it is receivable, except in the following circurllstances, when the income is deferred and included in creditors: The income is unrestricted core funding for a specified future period. A sales invoice has been raised ahead of work being carried out and there is no contractual entitlerllent to the income until the work has been done Not all the terrlls and conditions for the receipt of the grant instalment have been met The project has been corllpleted and the grant conditions are such that unspent granl rllust be refunded Incorlle includes grants in respect of revenue and capital items, 22 Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where cosls cannot be directly attributed to particular headings, they have been allocaled to activities on a basis consistent with the use of resources. Allocation and apportiontnent of costs Support costs have been allocaled between the cost centres.. salaries., travel, subsistence, entertaining; learning, development and recruitment,. marketing and publicity,. office and sundry costs, Central costs are charged to unrestricted funds with contributions to overheads levied to individual prograrllrlles as appropriate. Contributions to overheads are charged to programme funds, as agreed with funders and where funds are restricted, these are shown within fund transfers along with relevant permissible recharges for specific programme work, Taxation The Charity is exempt from corporation tax on its charitable activities. The Charity is not registered for VAT and therefore all its input VAT is irrecoverable, Expenditure is analysed inclusive of VAT where this has been incurred. Fund accounting Unrestricted funds can be used in accordance with the charitable objedives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when f unds are raised for particular restricted purposes, Further explanation of the nature and purpose of each fund is included in this note to the financial statemenls. Restricted Funds ACE Etnergency Fund Covid 19 emergency business continuity support- 6 months contribution to salary and overheads, Includes £2,000 towards Ihe Zine project which corllmences in August 2020. Lancashire Music Service- Amplify A continualion of the collaboration with young people to produce research projects about music education, Curious Minds Pl Curious Minds Partnership Investment was awarded to Blaze Arts to help achieve Blaze Arts, vision of 'A world where all young people have the opportunity to produce their own culture,. Although forrllally restricted funding, its purpose is to cover general running and development costs of the new charity. A second round of Curious Minds Partnership Investment was awarded in July 2020 to contribute to core costs from August, 23 - - - - - 24 25 26 27 28 29