CHARITY REGISTRATION NUMBER: 1180104
National Open Art CIO
Trustees Report and Financial Statements
31 January 2023
National Open Art CIO
Trustees' Annual Report
Year Ended 31 January 2023
The trustees present their report and the financial statements of the charity for the year ended 31 January 2023
Reference and administrative details
Operating name National Open Art (NOA) Charity registration number 1180104 Principal office and registered Dormer Cottage office Old Broyle Road West Broyle Chichester West Sussex PO19 3PR Trustees David Barrie (Chairman) Viscountess Bridgeman Trevor James (Treasurer) Susan Wells Bankers Barclays Bank Southampton City Branch
Structure, governance and management
Charity Status
National Open Art (“the Charity”) is a charitable incorporated organisation. It is governed by its constitution which was registered by the Charity Commission on 27 September 2018. The trustees are the members of the Charity.
Recruitment, Appointment and Training of Trustees
Trustees are recruited from supporters of the Charity who share its aims and aspirations and are believed to be able to bring a breadth and depth of experience and skills to the trustee body. Prior to appointment trustees are briefed on the Charity's activities. Each trustee is required to complete a Declaration of Interests and a Fit and Proper Person form. They take seriously their obligations to maintain their knowledge and attend relevant courses and seminars.
Risk Management
The trustees have identified the major risks to which they believe the Charity is exposed. Where appropriate, systems have been established to minimise those risks. Procedures are in place to ensure compliance with health and safety requirements. The trustees believe that corruption, bribery and unfair actions hamper development and impede progress and insist on integrity in all aspects of the Charity's activities.
Objectives and activities
The main objectives of the Charity are to promote for the public benefit the arts of painting, drawing, sculpture, visual design and displays of any nature by providing opportunities for exhibitions and competitions and education in those arts. These objectives are achieved by an annual open art exhibition
Public benefit
The trustees have paid due regard to the Charity Commission's guidance on public benefit. The Charity aims to benefit the public by being a positive presence in the art world by staging an annual high quality open art exhibition and competition.
Achievements and performance
The Covid-19 pandemic meant it was not possible to undertake any activities during the year.
National Open Art CIO
Trustees' Annual Report
Year Ended 31 January 2023
Financial review
There was no income or expenditure during the year.
Investment policy
Funds not required for current needs may be invested in investments of any kind at the absolute discretion of the trustees.
Volunteers
Trustees, who are the only volunteers do not receive any payment or benefits for their work as trustees.
Pay Policy for Key Management Personnel
The Charity has no employees and therefore does not have a pay policy.
Fundraising
The Charity did not undertake any fundraising and did not employ any fundraisers.
Reserves Policy
The trustees have not set a reserves policy but have resolved that the charity cannot operate without holding reserves at the year end of sufficient size to ensure all operating expenses can be met prior to the launch of the next season's exhibition.
Plans for future periods
The lack of success in securing funding for an exhibition in 2019, the unsuccessful discussions with another national exhibition with the aim of collaboration and the effects of the Covid-19 pandemic has forced the trustees to conclude that there is no immediate future for the charity.
Governance
The trustees take governance seriously and seek to apply the Charity Governance Code.
Trustees' responsibilities statement
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).
Charity law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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. 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 irregularities.
The trustees are responsible for the maintenance and integrity of the financial information included in the charity's website.
National Open Art CIO
Trustees' Annual Report
Year Ended 31 January 2023
Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Independent examiner
The Charity’s income is below the examination threshold and therefore there is no independent examiner.
The trustees' annual report was approved on 30 October 2023 and signed on behalf of the trustees by:
T E James
Trevor James Trustee
National Open Art CIO
Statement of Financial Activities
Year Ended 31 January 2023
| Unrestricted | Total | Total Funds | |
|---|---|---|---|
| funds | funds | 2022 | |
| £ | £ | £ | |
| Income | |||
| Donations and grants | 0 | 0 | 0 |
| Charitable activities | 0 | 0 | 0 |
| Other income | 0 | 0 | 0 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| Total income | 0 | 0 | 0 |
| ================== | ============== | ================= | |
| Expenditure | |||
| Raising funds | 0 | 0 | 0 |
| Expenditure on charitable activities | 0 | 0 | 0 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| Total expenditure | 0 | 0 | 0 |
| ================= | ============== | ================= | |
| Net income/(expenditure) and net | |||
| movement in funds | 0 | 0 | (0) |
| ================== | ============= | ================= | |
| Reconciliation of funds | |||
| Total funds brought forward | (15) | (15) | (15) |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| Total funds carried forward | (15) | (15) | (15) |
| ================= | ============= | ================ |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
National Open Art CIO
Balance Sheet
31 January 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fixed assets | ||
| Heritage assets | 0 | 0 |
| Current assets | ||
| Stocks | 0 | 0 |
| Debtors | 400 | 400 |
| Cash at bank and in hand | 103 | 103 |
| ------------------------------ | -------------------------------- | |
| 503 | 503 | |
| Creditors: amounts falling due within one year | 518 | 518 |
| -------------------------------- | -------------------------------- | |
| Net current assets | (15) | (15) |
| -------------------------------- | ---------------------------------- | |
| Total assets less current liabilities | (15) | (15) |
| Creditors: amounts falling due after more than one year | 0 | 0 |
| ---------------------------------- | ------------------------------------ | |
| Net assets | (15) | (15) |
| =============== | =============== | |
| Funds of the charity | ||
| Restricted funds | 0 | 0 |
| Unrestricted funds | (15) | (15) |
| ---------------------------------------------------------------------------------------------------- | ||
| Total charity funds | (15) | (15) |
| ========================================== |
These financial statements were approved by the trustees and authorised for issue on 30 October 2023 and are signed on their behalf by:
T E James
T E James Trustee