2023-03-31-accounts

Trustees’ annual report (including Directors’ report) for the period

From: 01/9/22 To: 31/3/23

Charity name: Chelmsford Cultural Development Trust

Charity registration number: 1180431

Company number: 10894512

Objectives and activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The Charitable Company has been established for the public benefit for the advancement of arts and culture in Chelmsford
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The Company was established as a Charity on 24/10/18. During this period the Executive Director returned from a sabbatical and subsequently resigned from the role, leaving the employ of the Trust during January 2023. The interim consultant Executive Director was recruited to the permanent position of Chief Executive from December 2022. In addition to fund raising activities the key focus has been implementing the Tea, Toast & Talk project as a charitable activity and initiating development of the Cultural Strategy.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	All trustees / directors completed induction training on the Charity Governance Code and the Public Benefit Requirement. The company’s memorandum and articles were amended by special resolution on 5/10/18 to reflect the refined public benefit purpose.

Achievements and performance

Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The Charity was provided with grant totalling £58,500 via Chelmsford City Council and has been working closely with the Council to ensure the purpose, priorities and focus align with their expectations. The Chief Executive (CE) and Executive Director (ED) continued a strong partnership approach to the developing Cultural Strategy and they were successful in securing a £17,500 grant from Royal Opera House Bridge and £5,000 from Essex Community Foundation for activity to be delivered.

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Financial review

Financial review
Review of the charity’s financial position at the end of the period	Para 1.21	The Charity has ended the financial period with funds totalling £99,223. Grant and donor funding of £93,500 was received during the period. Gross expenditure of £69,930 was incurred.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The charity has established a minimum reserves requirement of £2,100 to allow for provision of loss against future funding streams.
Amount of reserves held	Para 1.22	At the 2022/23 period end Reserves stand at £99,223.
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. They have taken account of the current economic conditions and concluded that although increasing inflation is currently impacting costs of supplies the charity’s fundraising ability is encouraging and there are limited on-going commitments.

Structure, governance and management

Description of charity’s trusts:		Chelmsford Cultural Development Trust
Type of governing document: for example,trust deed, memorandum and articles of association etc	Para 1.25	Memorandum and Articles of Association – incorporated 1/8/17.
How is the charity constituted? for example limited company, unincorporated association, CIO	Para 1.25	A Charitable Company Limited by Guarantee Members of the company have provided a guarantee capped at £1 each.
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	The charity may appoint directors, the minimum number of directors is three and the maximum nine, however the Board may determine a higher number. Chelmsford City Council is entitled to nominate one individual to the Board as a Local Authority Nominee and decide their period of appointment.

2

Reference and administrative details

Charity name	Chelmsford Cultural Development Trust
Other name the charity uses	Culture Chelmsford
Registered charity number	1180431
Charity’s principal address	Civic Centre, Duke Street, Chelmsford Essex CM1 1JE

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13	Trustee name	Office (if any)	Dates acted if not for whole period	Name of person (or body) entitled to appoint trustee (ifany)
	Rear Admiral Roy Alexander George Clare CBE DL	Chair	To 3rdOctober 2022
	Mark Walmsley	Chair	From 3rdOctober 2022
	Benjamin Geoffrey Backhouse
	Julia Anne Frascona	Local Authority Nominee		Chelmsford City Council
	Ian Flint		To 3rdOctober 2022
	Nicola Jane Freshwater		To 19thJanuary 2023
	Stephanie Mitchener	Treasurer
	Caroline Porter
	Ajay Kumar Pabial
	Sarah Barfoot
	Elliot Boakes		From 13th December 2022
	Mark Garratt		From 13th December 2022
	Marie Goldman		10thJuly 2023

– Corporate trustees names of the directors at the date the report was approved

Director name None

There are no trustees holding title to property belonging to the charity. There are no Funds held as custodian trustees on behalf of others.

Additional information (optional)

Name of Chief Executive employed (optional information)

Claire Gevaux

Other optional information

Elliot Boakes provided company secretarial services to December 2022, invoicing for services provided

Declarations

The company has taken advantage of the small companies’ exemption in preparing the report above.

The trustees declare that they have approved the trustees’ report (including directors’ report) above.

Signed on behalf of the charity’s trustees/directors

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Signature(s) Stephanie Mitchener Full name(s) Mark Walmsley Position Chair Treasurer Date 06/12/2023

4

	Charity Name: Chelmsford Cultural Development Trust	Charity Name: Chelmsford Cultural Development Trust	Charity Name: Chelmsford Cultural Development Trust	CharityNo	1180431	1180431
				CompanyNo	10894512
	Annual accounts for the period
	Period start date		01/09/2022	To	Period end date	31/03/2023

Section A Statement of financial activities (including summary income and expenditure account)

Recommended categories by activity	Recommended categories by activity	Guidance Note	Unrestricted funds	Restricted income funds	Endowment funds	Total funds	Prior year funds
			£	£	£	£	£
Income(Note 3)			F01	F02	F03	F04	F05
Income and endowments from:
Donations and legacies		S01	12,500	81,000	-	93,500	97,500
Charitable activities		S02	-	-	-	-	-
Other trading activities		S03	-	-	-	-	-
Investments		S04	-	-	-	-	-
Separate material item of income		S05	-	-	-	-	-
Other		S06	-	-	-	-	-
Total		S07	12,500	81,000	-	93,500	97,500
Expenditure(Notes 6)
Expenditure on:
Raising funds		S08	-	14,738	-	14,738	15,682
Charitable activities		S09	-	55,192	-	55,192	26,913
Separate material expense item		S10
Other		S11	-	-	-	-
Total		S12	-	69,930	-	69,930	42,595
Net income/(expenditure) before tax for the reporting period		S13	12,500	11,070	-	23,570	54,905
Taxpayable		S14	-	-	-	-	-
Net income/(expenditure) after tax before investmentgains/(losses)		S15	12,500	11,070	-	23,570	54,905
Net gains/(losses) on investments		S16	-	-	-	-	-
Net income/(expenditure)		S17	12,500	11,070	-	23,570	54,905
Extraordinary items		S18	-	-	-	-
Transfers between funds		S19	-	-	-	-	-
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets for the charity’s ow n use		S20	-	-	-	-	-
Other gains/(losses)		S21	-	-	-	-	-
Net movement in funds		S22	12,500	11,070	-	23,570	54,905
Reconciliation of funds:
Total funds brought forw ard		S23	10,518	65,135	-	75,653	20,748
Total funds carried forward		S24	23,018	76,205	-	99,223	75,653

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Charity Name: Chelmsford Charity No 1180431 Cultural Development Trust Company No 10894512

Section B Balance sheet

	Guidance Note	Unrestricted funds	Restricted income funds	Endowment funds	Total this year	Total last year
		£	£	£	£	£
Fixed assets		F01	F02	F03	F04	F05
Intangible assets(Note 15)	B01	-	-	-	-	-
Tangible assets(Note 14)	B02	-	-	-	-	-
Heritage assets(Note 16)	B03	-	-	-	-	-
Investments(Note 17)	B04	-	-	-	-	-
Total fixed assets	B05	-	-	-	-	-
Current assets
Stocks(Note 18)	B06	-	-	-	-	-
Debtors(Note 19)	B07	-	45,000	-	45,000	-
Investments(Note 17.4)	B08	-	-	-	-	-
Cash at bank and in hand(Note 24)	B09	23,018	39,058	-	62,076	80,549
Total current assets	B10	23,018	84,058	-	107,076	80,549
Creditors: amounts falling due within oneyear(Note 20)	B11	-	7,853	-	7,853	4,896
Net current assets/(liabilities)	B12	23,018	76,205	-	99,223	75,653
Total assets less current liabilities	B13	23,018	76,205	-	99,223	75,653
Creditors: amounts falling due after oneyear(Note 20)	B14	-	-	-	-	-
Provisions for liabilities	B15	-	-	-	-	-
Total net assets or liabilities	B16	23,018	76,205	-	99,223	75,653
Funds of the Charity
Endowment funds(Note 27)	B17	-			-	-
Restricted income funds (Note 27)	B18		76,205		76,205	65,135
Unrestricted funds	B19	23,018		-	23,018 -	10,518
Revaluation reserve	B20
Fair value reserve	B21
Total funds	B22	23,018	76,205	-	99,223	75,653
The company was entitled to exemption from audit under s477 of the Companies Act 2006 small companies.						relating to
~~The members have not required the company to obtain an audit in accordance with section 476 of the~~ Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed by one or two trustees/directors on behalf of all the trustees/directors			Name			Date of approval dd/mm/yyyy
			Mark Walmsley			06/12/2023
			Ben Backhouse			06/12/2023
Signature of director authenticating accounts being sent to Companies House			Signature			Date dd/mm/yyyy
						06/12/2023
			Stephanie Mitchener

	Guidance Note	Unrestricted funds	Restricted income funds	Endowment funds	Total this year	Total last year
		£	£	£	£	£
Fixed assets		F01	F02	F03	F04	F05
Intangible assets(Note 15)	B01	-	-	-	-	-
Tangible assets(Note 14)	B02	-	-	-	-	-
Heritage assets(Note 16)	B03	-	-	-	-	-
Investments(Note 17)	B04	-	-	-	-	-
Total fixed assets	B05	-	-	-	-	-
Current assets
Stocks(Note 18)	B06	-	-	-	-	-
Debtors(Note 19)	B07	-	45,000	-	45,000	-
Investments(Note 17.4)	B08	-	-	-	-	-
Cash at bank and in hand(Note 24)	B09	23,018	39,058	-	62,076	80,549
Total current assets	B10	23,018	84,058	-	107,076	80,549
Creditors: amounts falling due within oneyear(Note 20)	B11	-	7,853	-	7,853	4,896
Net current assets/(liabilities)	B12	23,018	76,205	-	99,223	75,653
Total assets less current liabilities	B13	23,018	76,205	-	99,223	75,653
Creditors: amounts falling due after oneyear(Note 20)	B14	-	-	-	-	-
Provisions for liabilities	B15	-	-	-	-	-
Total net assets or liabilities	B16	23,018	76,205	-	99,223	75,653
Funds of the Charity
Endowment funds(Note 27)	B17	-			-	-
Restricted income funds (Note 27)	B18		76,205		76,205	65,135
Unrestricted funds	B19	23,018		-	23,018 -	10,518
Revaluation reserve	B20
Fair value reserve	B21
Total funds	B22	23,018	76,205	-	99,223	75,653
The company was entitled to exemption from audit under s477 of the Companies Act 2006 small companies.						relating to
~~The members have not required the company to obtain an audit in accordance with section 476 of the~~ Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed by one or two trustees/directors on behalf of all the trustees/directors			Name			Date of approval dd/mm/yyyy
			Mark Walmsley			06/12/2023
			Ben Backhouse			06/12/2023
Signature of director authenticating accounts being sent to Companies House			Signature			Date dd/mm/yyyy
						06/12/2023
			Stephanie Mitchener

~~6~~

Section C Notes to the accounts

Note 1Basis ofpreparation
This section should be completed by all charities.
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s)to these accounts.
The accounts have beenprepared in accordance with:
• and with*	✓	the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
• and with*	✓	the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
• and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.*					✓
* -Tick as appropriate
1.2 Going concern
If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:
The guidance on the implications of Covid-19 suggests that charities should take the opportunity to explain any financial uncertainties regarding the charity’s financial sustainability and consideration of going concern and the steps being taken to address these uncertainties.
An explanation as to those factors that support the conclusion that the charity is a going concern;				The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts.
Disclosure of any uncertainties that make the going concern assumption doubtful;
Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.

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1.3 Change of accounting policy

The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.

1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of the change in accounting policy;
(ii) the reasons why applying the new accounting policy provides more reliable and more relevant information; and
(iii) the amount of the adjustment for each line affected in the current period, each prior period presented and the aggregate amount of the adjustment relating to periods before those presented, 3.44 FRS102 SORP.
1.4 Changes to accounting estimates
No changes to accountingestimates have occurred in the reporting period (3.46 FRS102 SORP).
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of any changes;
(ii) the effect of the change on income and expense or assets and liabilities for the current period; and
(iii) where practicable, the effect of the change in one or more future periods.
1.5 Materialprioryear e		rrors
No materialprioryearerro		r have been identified in the reporting period(3.47 FRS102 SORP).
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of the prior period error;
(ii) for each prior period presented in the accounts, the amount of the correction for each account line item affected; and
(iii) the amount of the correction at the beginning of the earliest prior period presented in the accounts.

1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of the change in accounting policy;
(ii) the reasons why applying the new accounting policy provides more reliable and more relevant information; and
(iii) the amount of the adjustment for each line affected in the current period, each prior period presented and the aggregate amount of the adjustment relating to periods before those presented, 3.44 FRS102 SORP.
1.4 Changes to accounting estimates
No changes to accountingestimates have occurred in the reporting period (3.46 FRS102 SORP).
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of any changes;
(ii) the effect of the change on income and expense or assets and liabilities for the current period; and
(iii) where practicable, the effect of the change in one or more future periods.
1.5 Materialprioryear e		rrors
No materialprioryearerro		r have been identified in the reporting period(3.47 FRS102 SORP).
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of the prior period error;
(ii) for each prior period presented in the accounts, the amount of the correction for each account line item affected; and
(iii) the amount of the correction at the beginning of the earliest prior period presented in the accounts.

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Section C Notes to the accounts (cont)

Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.
2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE
Please provide a description of the nature of each change in accounting policy
Reconciliation of funds per previous GAAP to funds determined under FRS 102
	Start of period	End of period
	£	£
Fund balances as previously stated
Adjustments:
Fund balance as restated
Reconciliation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
		End of
		£
Net income/(expenditure) as previously stated
Adjustments:
Previous period net income/(expenditure) as restated

Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.
2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE
Please provide a description of the nature of each change in accounting policy
Reconciliation of funds per previous GAAP to funds determined under FRS 102
	Start of period	End of period
	£	£
Fund balances as previously stated
Adjustments:
Fund balance as restated
Reconciliation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
		End of
		£
Net income/(expenditure) as previously stated
Adjustments:
Previous period net income/(expenditure) as restated

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Section C Notes to the accounts (cont)

Note 2 Accounting policies
2.2 INCOME
Recognition of income	These areincludedinthe Statement of Financial Activities (SoFA)when:
	• the charity becomes entitled to theresources;
	• itismorelikely than not that the trusteeswill receive theresources;				Yes*	No*	N/a*
	• themonetaryvalue canbemeasuredwithsufficientreliability.				✓
Offsetting	There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.				Yes*	No*	N/a*
					✓
Grants and donations	Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).				Yes*	No*	N/a*
					✓
	In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).				Yes*	No*	N/a*
							✓
Legacies	Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.				Yes*	No*	N/a*
							✓
Government grants	The charity has received government grants in the reporting period				Yes*	No*	N/a*
					✓
Tax reclaims on donations and gifts	Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.				Yes*	No*	N/a*
					✓
Contractual income and performance related grants	This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.				Yes*	No*	N/a*
							✓
Donated goods	Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.				Yes*	No*	N/a*
							✓
	The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carryingamount of the stocks at distribution.				Yes*	No*	N/a*
							✓
	Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other tradingactivities'.				Yes*	No*	N/a*
							✓
	Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.				Yes*	No*	N/a*
							✓
	Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.				Yes*	No*	N/a*
							✓

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Donated services and facilities	Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.		Yes*	No*	N/a*
					✓
	Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate headingin the SOFA.		Yes*	No*	N/a*
					✓
Support costs	The charity has incurred expenditure on support costs.		Yes*	No*	N/a*
			✓
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.		Yes*	No*	N/a*
					✓
Income from interest, royalties and dividends	This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.		Yes*	No*	N/a*
					✓
Income from membership subscriptions	Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.		Yes*	No*	N/a*
					✓
	Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.		Yes*	No*	N/a*
					✓
Settlement of insurance claims	Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA.		Yes*	No*	N/a*
					✓
Investment gains and losses	This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.		Yes*	No*	N/a*
					✓
2.3 EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.		Yes*	No*	N/a*
			✓
Governance and support costs	Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.		Yes*	No*	N/a*
			✓
	Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.		Yes*	No*	N/a*
			✓
Grants with performance conditions	Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.		Yes*	No*	N/a*
					✓
Grants payable without performance conditions	Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.		Yes*	No*	N/a*
					✓
Redundancy cost	The charity made no redundancy payments during the reporting period.		Yes*	No*	N/a*
			✓
Deferred income	No material item of deferred income has been included in the accounts.		Yes*	No*	N/a*
			✓
Creditors	The charity has creditors which are measured at settlement amounts less any trade discounts		Yes*	No*	N/a*
				✓
Provisions for liabilities	A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date		Yes*	No*	N/a*
					✓
Basic financial instruments	The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17to11.19,FRS102SORP.		Yes*	No*	N/a*
			✓

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2.4 ASSETS
Tangible fixed assets for These are capitalised if they can be used for more than one year, and cost at least
£500
use by charity Yes No N/a
They are valued at cost.
✓
The depreciation rates and methods used are disclosed in note 14.
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through Yes No N/a
Intangible fixed assets
custody or legal rights. The amortisation rates and methods used are disclosed in
note 15. ✓
They are valued at cost. Yes No N/a
✓
The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and Yes No N/a
Heritage assets
maintained principally for their contribution to knowledge and culture. The ✓
depreciation rates and methods used as disclosed in note 16.
Yes No N/a
They are valued at cost. ✓
Fixed asset investments in quoted shares, traded bonds and similar investments are
Investments valued at initially at cost and subsequently at fair value (their market value) at the Yes No N/a
year end. The same treatment is applied to unlisted investments unless fair value
cannot be measured reliably in which case it is measured at cost less impairment. ✓
Investments held for resale or pending their sale and cash and cash equivalents with a Yes No N/a
maturity date of less than 1 year are treated as current asset investments ✓
Stocks and work in Stocks held for sale as part of non-charitable trade are measured at the lower or cost Yes No N/a
progress or net realisable value. ✓
Goods or services provided as part of a charitable activity are measured at net Yes No N/a
realisable value based on the service potential provided by items of stock. ✓
Work in progress is valued at cost less any foreseeable loss that is likely to occur on Yes No N/a
the contract. ✓
Debtors (including trade debtors and loans receivable) are measured on initial
recognition at settlement amount after any trade discounts or amount advanced by Yes No N/a
Debtors
the charity. Subsequently, they are measured at the cash or other consideration
✓
expected to be received.
Current asset The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on Yes No N/a
investments deposit and cash equivalents with a maturity of loss than one year held for investment ✓
purposes rather than to meet short-term cash commitments as they fall due.
Yes No N/a
They are valued at fair value except where they qualify as basic financial instruments. ✓
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM
THOSE ABOVE
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12

Section C Notes to the accounts (cont)

Note 3	Income
	Analysis of income	Unrestricte d funds	Restricted income funds	Endowmen t funds	Total funds	Prioryear
					£	£
Donations and legacies:	Donations and gifts	10,000		-	10,000	-
	Gift Aid	2,500		-	2,500
	Legacies	-	-	-	-	-
	General grants provided by government/other charities		81,000	-	81,000	97,500
	Membership subscriptions and sponsorships which are in substance donations	-	-	-	-
	Donatedgoods,facilities and services	-	-	-	-	-
	Other	-	-	-	-
	Total	12,500	81,000	-	93,500	97,500
Charitable activities:		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
Other trading activities:		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
Income from investments:	Interest income	-	-	-	-	-
	Dividend income	-	-	-	-	-
	Rental and leasing income	-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
Separate material item of income		-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Total	-	-	-	-	-
Other:	Conversion of endowment funds into income	-	-	-	-	-
	Gain on disposal of a tangible fixed asset held for charity's own use	-	-	-	-	-
	Gain on disposal of a programme related investment	-	-	-	-	-
	Royalties from the exploitation of intellectual property rights	-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
TOTAL INCOME		12,500	81,000	-	93,500	97,500
Other information:
All income in the prior year was unrestricted except for: (please provide description and amounts)		£42,500 grant awarded by Chelmsford City Council, £25,000 EU Welcome Back grant and £30,000 from Royal Opera House Bridge
Where any endowment fund is converted into income in the reporting period, please give the reason for the conversion.		N/A
Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)		£58,500 grant funding from Chelmsford City Council (prior year £42,500) and £17,500 from Royal Opera House Bridge (prior year £30,000)
Where sums originally denominated in foreign currency have been included in income, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).		N/A

13

Section C	Notes to the accounts	Notes to the accounts	(cont)	(cont)
Note 4 Analysis of receipts ofgovernmentgrants
			Thisyear		Lastyear
		Description	£		£
Government grant 1		Chelmsford City Council-core grant	42,500		42,500
Government grant 2		Chelmsford City Council-EU Welcome back	-		25,000
Government grant 3		Chelmsford City Council-Cultural Strategy	16,000		-
Government grant 4		Royal Opera House Bridge	17,500		30,000
		Total	76,000		97,500
Please provide details of any
unfulfilled conditions and other
contingencies attaching to grants		N/A
that have been recognised in
income.
Please give details of other forms
of government assistance from which the charity has directly		N/A
benefited.

Section C Notes to the accounts	Section C Notes to the accounts	(cont)	(cont)	(cont)
Note 4 Analysis of receipts ofgovernmentgrants
	Description	Thisyear	Lastyear
		£	£
Government grant 1	Chelmsford City Council-core grant	42,500	42,500
Government grant 2	Chelmsford City Council-EU Welcome back	-	25,000
Government grant 3	Chelmsford City Council-Cultural Strategy	16,000	-
Government grant 4	Royal Opera House Bridge	17,500	30,000
	Total	76,000	97,500
Please provide details of any unfulfilled conditions and other contingencies attaching to grants that have been recognised in income.	N/A
Please give details of other forms of government assistance from which the charity has directly benefited.	N/A
Section C	Notes to the accounts	(cont)
Note 5 Donatedgoods, facilities and services
		Thisyear		Lastyear
		£		£
Seconded staff		-		-
Use ofproperty		-		-
Other		-		-
		-		-
Please provide details of the accounting policy for the recognition and valuation of donated goods, facilities and services.	N/A
Please provide details of any unfulfilled conditions and other contingencies attaching to resources from donated goods and services not recognised in income.	N/A
Please give details of other forms of other donated goods and services not recognised in the accounts, eg contribution of unpaid volunteers.	N/A

14

Note 6	Expenditure	Expenditure
	Analysis of expenditure		Unrestricted funds	Restricted income funds	Endowmen t funds	Total funds	Prioryear
						£	£
Expenditure on raising funds:	Incurred seekingdonations		-	2,948	-	2,948	3,136
	Incurred seeking legacies		-	-	-	-	-
	Incurred seeking grants			11,790		11,790	12,546
	Operating membership schemes and social lotteries
	Stagingfundraisingevents
	Fundraising agents
	Operating charity shops
	Operating a trading company undertaking non-charitable tradingactivity
	Advertising, marketing, direct mail and publicity		-	-	-	-	-
	Start up costs incurred in generating new source of future income		-	-	-	-	-
	Database development costs		-	-	-	-	-
	Other trading activities
	Investment management costs:		-	-	-	-
	Portfolio management costs		-	-	-	-	-
	Cost of obtaining investment advice		-	-	-	-	-
	Investment administration costs		-	-	-	-	-
	Intellectual property licencing costs		-	-	-	-	-
	Rent collection, property repairs and maintenance charges		-	-	-	-	-
			~~-~~	~~-~~	~~-~~	~~-~~	~~-~~
	Total expenditure on raising funds		-	14,738	-	14,738	15,682
Expenditure on charitable activities	See Note 9			28,792	-	28,792	18,682
	Cultural Strategy Activity		-	26,400	-	26,400	8,231
			-	-	-	-	-
			-	-	-	-	-
	Total expenditure on charitable activities		-	55,192	-	55,192	26,913
Separate material item of expense			-	-	-	-	-
			-	-	-	-	-
			-	-	-	-	-
			-	-	-	-	-
	Total		-	-	-	-	-
Other					-	-
			-	-	-	-	-
			-	-	-	-	-
	Total other expenditure		-	-	-	-	-
TOTAL EXPENDITURE			-	69,930	-	69,930	42,595
Other information:
Analysis of expenditure on charitable activities
Activity or programme	Activities undertaken directly			Grant funding of activities	Support Costs	Total this year	Total prior year
	£			£	£	£	£
Activity1	Delivering grantfundingrequirements				28,792	28,792	18,682
Activity2	CulturalStrategy development				26,400	26,400	8,231
Other
Total					55,192	55,192	26,913
Prior year expenditure on charitable activities can be analysed as follows:		Continuing to establ	ishthe charity and Chelmsford CulturalStrategy
Within the expenditure items above the following items are material: (please disclose the nature, amount and any prior year amounts)		Employees £18,677and consultancy costs £43,042(Prioryear£28,714)
Where sums originally denominated in foreign currency have been included in expenditure, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).		N/A

15

Section C Notes to the accounts (cont)

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Note 7 Extraordinary items - there are none
Please explain the nature of each extraordinary item occurring in the period.
This year Last year
Description £ £
Extraordinary item 1
N/A
- -
Extraordinary item 2
- -
- -
Extraordinary item 3
- -
Extraordinary item 4
- -
Total extraordinary items - -
Section C Notes to the accounts
Note 8 Funds received as agent - there are none
8.1 Please complete this note if the charity has agreed to administer the funds of another entity as its agent. Note: If a
charity is acting as an agent, it should not recognise the income in the Statement of Financial Activities or the Balance
Sheet.
Balance held at period
Amount received Amount paid outpaid outaid out end
Description/name of party Related
party (Yes This yearyearear Last yearyearear This yearyearear Last yearyearear This yearyearear Last yearyearear
or No) £ £ £ £ £ £
N/A
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Total - - - - - -
8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in
the purchase of goods or services, please disclose details of any balances outstanding between any participating
members.
Balance held at period
Description/name of party
end
This yearyearear Last yearyearear
£ £
- -
- -
- -
- -
- -
Total - -
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Balance held at period
Amount received Amount paid outpaid outaid out end
Description/name of party Related
party (Yes This yearyearear Last yearyearear This yearyearear Last yearyearear This yearyearear Last yearyearear
or No) £ £ £ £ £ £
N/A
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Total - - - - - -
8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in
the purchase of goods or services, please disclose details of any balances outstanding between any participating
members.
Balance held at period
Description/name of party
end
This yearyearear Last yearyearear
£ £
- -
- -
- -
- -
- -
Total - -
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16

Note 9 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

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Charitable Cultural Basis of
Raising funds Activities Strategy Activity 3 Grand total allocation
Support cost (Describe
(examples) £ £ £ £ £ method)
1,000 - 1,000 100%
Governance Charitable
(Company secretary) activity
Chief Executive & 13,389 13,388 - 26,777
Executive Director Split 50:50
148 148 - 296
Payroll Services
Split 50:50
115 115 - 230
Insurance
Split 50:50
12,702 12,702
Consultancy
1,086 1,439 26,400 - 28,925 Split 50:50
Other - expenses business rates
charitable
activity only
14,738 28,792 26,400 - 69,930
Total
This assumes all activities of the Trust, other than
Governance, Other expenses and Cultural Strategy
activities, are split equally between Raising Funds
Please provide details of the accounting policy
adopted for the apportionment of costs between & Charitable Activities. Governance is deemed
activities and any estimation techniques used to 100% Charitable Activity, Other is split 50:50 other
calculate their apportionment. than ££353 business rates for charitable delivery
and there are a mix of costs attributed to the
Cultural Strategy activity.
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Note 10 Details of certain types of expenditure
Note 10.1 Fees for examination of the accounts
Please provide details of the amount paid for any statutory external scrutiny of
accounts and other services provided by your independent examiner. If
nothing was paid please enter '0' in the appropriate box(es).
This year Last year
£ £
Independent examiner’s fees
610 650
Assurance services other than independent examination
0 0
Tax advisory fees
0 0
Other fees (for example: financial advice, consultancy, accountancy services)
paid to the independent examiner 0 0
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17

Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees
Please complete this note if the charity has any employees (transactions with Trustees dealt with in Note 28)
11.1 Staff Costs
			Thisyear	Lastyear
			£	£
Salaries and wages			17,691	11,072
Social security costs			-	-
Pension costs(defined contributionpensionplan)			986	542
Other employee benefits			-	-
Total staff costs			18,677	11,614
Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party			N/A
Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000			TRUE
Band		Number of employees
£60,000 to £69,999			0
£70,000 to £79,999			0
£80,000 to £89,999			0
£90,000 to £99,999			0
£100,000 to £109,999			0
Please provide the total amount paid to key management personnel (includes trustees and senior management) for their services to the charity. For specific amounts paid to trustees, see Note 28.			£17,691
11.2 Average head count in the year			Thisyear	Lastyear
			Number	Number
The parts of the charity in which the employees work		Fundraising	0.40	0.40
		Charitable Activities	0.60	0.60
		Governance	-	-
		Other	-	-
		Total	1.00	1.00
11.3 Ex-gratiapayments to employees		and others(excluding trustees)
Please complete if an ex-gratia payment is made.
Please explain the nature of the payment		company secretarialservices
Please state the legal authority or reason for making the payment		To covercompany secretarialduties as agreed by theTrustBoard
Please state the amount of the payment (or value of any waiver of a right to an asset)		£1,000
11.4 Redundancy payments
Please complete if any redundancy or		termination payment is made in the period.
Total amount ofpayment		0
The nature of the payment (cash, asset etc.)
The extent of redundancy funding at the balance sheet date
Please state the accounting policy for any redundancy or termination payments

Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees
Please complete this note if the charity has any employees (transactions with Trustees dealt with in Note 28)
11.1 Staff Costs
			Thisyear	Lastyear
			£	£
Salaries and wages			17,691	11,072
Social security costs			-	-
Pension costs(defined contributionpensionplan)			986	542
Other employee benefits			-	-
Total staff costs			18,677	11,614
Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party			N/A
Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000			TRUE
Band		Number of employees
£60,000 to £69,999			0
£70,000 to £79,999			0
£80,000 to £89,999			0
£90,000 to £99,999			0
£100,000 to £109,999			0
Please provide the total amount paid to key management personnel (includes trustees and senior management) for their services to the charity. For specific amounts paid to trustees, see Note 28.			£17,691
11.2 Average head count in the year			Thisyear	Lastyear
			Number	Number
The parts of the charity in which the employees work		Fundraising	0.40	0.40
		Charitable Activities	0.60	0.60
		Governance	-	-
		Other	-	-
		Total	1.00	1.00
11.3 Ex-gratiapayments to employees		and others(excluding trustees)
Please complete if an ex-gratia payment is made.
Please explain the nature of the payment		company secretarialservices
Please state the legal authority or reason for making the payment		To covercompany secretarialduties as agreed by theTrustBoard
Please state the amount of the payment (or value of any waiver of a right to an asset)		£1,000
11.4 Redundancy payments
Please complete if any redundancy or		termination payment is made in the period.
Total amount ofpayment		0
The nature of the payment (cash, asset etc.)
The extent of redundancy funding at the balance sheet date
Please state the accounting policy for any redundancy or termination payments

~~18~~

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Note 12 Defined contribution pension scheme or defined benefit scheme
accounted for as a defined contribution scheme.
12.1 Please complete this note if a defined contribution pension scheme is operated.
Amount of contributions recognised £986
in the SOFA as an expense
Please explain the basis for Employee costs have been allocated 40:60 between activities, all
allocating the liability and expense of applied to restricted funds as either forms part of running the Trust /
defined contribution pension scheme seeking new funding.
between activities and between
restricted and unrestricted funds.
12.2 Please complete this section where the charity participates in a defined benefit pension plan but
is unable to ascertain its share of the underlying assets and liabilities.
Please confirm that although the NEST is a defined contribution occupational pension scheme
scheme is accounted for as a defined backed by the government, it is not a defined benefit pension plan.
contribution plan, it is a defined
benefit plan.
Please provide such information as is
available about the plan's surplus or
N/A
deficit and the implications, if any, for
the reporting charity
12.3 Please complete this section where the charity participates in a multi-employer defined benefit
pension plan that is accounted for as a defined contribution plan.
Describe the extent to which the
charity can be liable to the plan for
other entities' obligations under the N/A
terms and conditions of the multi-
employer plan
Explain how any liability arising from
an agreement with a multi-employer
N/A
plan to fund a deficit has been
determined.
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Note 12 Defined contribution pension scheme or defined benefit scheme
accounted for as a defined contribution scheme.
12.1 Please complete this note if a defined contribution pension scheme is operated.
Amount of contributions recognised £986
in the SOFA as an expense
Please explain the basis for Employee costs have been allocated 40:60 between activities, all
allocating the liability and expense of applied to restricted funds as either forms part of running the Trust /
defined contribution pension scheme seeking new funding.
between activities and between
restricted and unrestricted funds.
12.2 Please complete this section where the charity participates in a defined benefit pension plan but
is unable to ascertain its share of the underlying assets and liabilities.
Please confirm that although the NEST is a defined contribution occupational pension scheme
scheme is accounted for as a defined backed by the government, it is not a defined benefit pension plan.
contribution plan, it is a defined
benefit plan.
Please provide such information as is
available about the plan's surplus or
N/A
deficit and the implications, if any, for
the reporting charity
12.3 Please complete this section where the charity participates in a multi-employer defined benefit
pension plan that is accounted for as a defined contribution plan.
Describe the extent to which the
charity can be liable to the plan for
other entities' obligations under the N/A
terms and conditions of the multi-
employer plan
Explain how any liability arising from
an agreement with a multi-employer
N/A
plan to fund a deficit has been
determined.
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19

Section C Notes to the accounts (cont)

Note 13 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

13.1 Analysis of grants paid (included in cost of charitable activities)

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Grants to Grants to
Analysis institutions individuals Support costs Total
Activity or project 1 - -
Activity or project 2 - -
Activity or project 3 - -
Activity or project 4 - -
Total - - - -
Please enter “Nil” if the charity does not identify and/or allocate support costs.
13.2 Grants made to institutions
Please provide
My charity has made grants to particular institutions that are material
details of
in the context of its grantmaking. Details of the institution supported, '
charity s URL.
purpose of the grant and total paid to each institution is available on
Provide details
the charity's web site.
below
Total amount of
Names of institution Purpose
grants paid £
-
-
-
-
-
-
-
-
-
-
Total grants to institutions in reporting period -
Other unanalysed grants -
TOTAL GRANTS PAID -
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20

Note 14 Tangible fixed assets	Note 14 Tangible fixed assets	Note 14 Tangible fixed assets	Note 14 Tangible fixed assets	Note 14 Tangible fixed assets
Please complete this note if the charity has any tangible fixed assets
14.1 Cost or valuation
	Freehold land & buildings	Other land & buildings	Plant, machinery and motor vehicles	Fixtures, fittings and equipment	Total
	£	£	£	£	£
At the beginning of the year	-	-	-	779	779
Additions	-	-	-	-	-
Revaluations	-	-	-	-	-
Disposals	-	-	-	-	-
Transfers *	-	-	-	-	-
At end of the year	-	-	-	779	779
14.2 Depreciation and impairments
**Basis	SL or RB	SL or RB	SL or RB	Straight Line	SL or RB	Straight Line ("SL") or Reducing Balance
** Rate				3 Years
At beginning of the year	-	-	-	779	779
Disposals	-	-	-	-	-
Depreciation	-	-	-	-	-
Impairment	-	-	-	-	-
Transfers*	-	-	-	-	-
At end of the year	-	-	-	779	779
14.3 Net book value
Net book value at the beginning of the year	-	-	-	-	-
Net book value at the end of the year	-	-	-	-	-
14.4 Impairment
Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.			N/A
14.5 Revaluation
If an accounting policy of revaluation is adopted, please provide:
the effective date of the revaluation			N/A
the name of independent valuer, if applicable
the methods applied and significant assumptions
the carrying amount that would have been recognised had the assets been carried under the cost model.
14.6 Other disclosures
(i) Please state the amount of borrowing costs, if any, capitalised in the construction of tangible fixed assets and the capitalisation			N/A
(ii) Please provide the amount of contractual commitments for the acquisition of tangible fixed assets.			N/A
(iii) Details of the existence and carrying amounts of property, plant and equipment to which the charity has restricted title or that arepledged as security for liabilities.			N/A
* The"transfers" row is for movements between fixed asset categories.
** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is thepercentage annual deduction.

~~21~~

Section C Notes to the accounts

Note 15 Intangible assets - there are none

Please complete this note if the charity has any intangible assets

Section C Notes to the accounts (cont)

Note 16 Heritage assets - there are none

Section C Notes to the accounts (cont)

Note 17 Investment assets - there are none

Please complete this note if the charity has any investment assets.

Section C Notes to the accounts

Note 18 Stocks - there are none

Please complete this note if the charity holds any stock items

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Note 19 Debtors and prepayments
Please complete this note if the charity has any debtors or prepayments.
19.1 Analysis of debtors
This yearyearear Last yearyearear
£ £
Trade debtors - -
Prepayments and accrued incomepayments and accrued incomeayments and accrued incomeyments and accrued incomements and accrued income 45,000 - ,000 - 000 -
Other debtors - -
Total 45,000 -
Complete 19.2 where a material debtor is recoverable more than a year after the reporting
date.
19.2 Disclosure of debtors recoverable in more than 1 year (included in debtors above)
This yearyearear Last yearyearear
£ £
Trade debtors - -
Prepayments and accrued incomepayments and accrued incomeayments and accrued incomeyments and accrued incomements and accrued income - -
Other debtors -
Total - -
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Note 19 Debtors and prepayments
Please complete this note if the charity has any debtors or prepayments.
19.1 Analysis of debtors
This yearyearear Last yearyearear
£ £
Trade debtors - -
Prepayments and accrued incomepayments and accrued incomeayments and accrued incomeyments and accrued incomements and accrued income 45,000 - ,000 - 000 -
Other debtors - -
Total 45,000 -
Complete 19.2 where a material debtor is recoverable more than a year after the reporting
date.
19.2 Disclosure of debtors recoverable in more than 1 year (included in debtors above)
This yearyearear Last yearyearear
£ £
Trade debtors - -
Prepayments and accrued incomepayments and accrued incomeayments and accrued incomeyments and accrued incomements and accrued income - -
Other debtors -
Total - -
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22

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Note 20 Creditors and accruals
Please complete this note if the charity has any creditors or accruals.
20.1 Analysis of creditors
Amounts falling due Amounts falling due
within one year after more than one year
This year Last year This year Last year
£ £ £ £
Accruals for grants payable - - - -
Bank loans and overdrafts - - - -
Trade creditors - - - -
Payments received on account for
contracts or performance-related grants - - - -
Accruals and deferred income - - - -
Taxation and social security - - - -
Other creditors 7,853 4,896 -
Total 7,853 4,896 - -
20.2 Deferred income
Please complete this note if the charity has deferred income.
Please explain the reasons why income is deferred.
Movement in deferred income account This year Last year
£ £
Balance at the start of the reporting period - -
Amounts added in current period - -
Amounts released to income from previous periods - -
Balance at the end of the reporting period - -
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Section C Notes to the accounts (cont)

Note 21 Provisions for liabilities and charges - there are none

You should complete this note if you have included in the charity expenditure any provisions. A provision is made when the charity has a liability of uncertain timing or amount.

23

Section C Notes to the accounts (cont)

Note 22 Other disclosures for debtors, creditors and other basic financial instruments
22.1 Please provide information about the significance of financial instruments (eg. debtors, creditors, investments etc) to the charity's financial position or performance, for example, the terms and conditions of loans or the use of hedging to manage financial risk.	N/A
22.2 If the charity has provided financial assets as a form of security, the carrying amount of the financial assets pledged as security and the terms and conditions related to its pledge should be given here.	N/A

Section C Notes to the accounts	Section C Notes to the accounts	Section C Notes to the accounts	Section C Notes to the accounts	Section C Notes to the accounts	(cont) one Thisyear Lastyear £ £ - - - - 62,075 80,549 - - 62,075 80,549	(cont) one Thisyear Lastyear £ £ - - - - 62,075 80,549 - - 62,075 80,549	(cont) one Thisyear Lastyear £ £ - - - - 62,075 80,549 - - 62,075 80,549	(cont) one Thisyear Lastyear £ £ - - - - 62,075 80,549 - - 62,075 80,549
Note 23 Contingent liabilities and contingent assets -there are n					one
Note 24 Cash at bank and in hand
					Thisyear		Lastyear
					£		£
Short term cash investments(less than 3 months maturity date)					-		-
Short term deposits					-		-
Cash at bank and on hand					62,075		80,549
Other					-		-
Total					62,075		80,549
Section C Notes to the accounts					(cont)
Note 25 Fair value of assets and liabilities
25.1 Please provide details of the charity's exposure to credit risk (the risk of incurring a loss due to a debtor not paying what is owed) , liquidity risk (the risk of not being able to meet short term financial demands) and market risk (the risk that the value of an investment will fall due to changes in the market) arising from financial instruments to which the charity is exposed at the end of the reporting period and explain how the charity manages those risks.		The trustees do not deem the charity to be exposed to these risks.
25.2 Please give details of the amount of change in the fair value of basic financial instruments (debtors, creditors, investments (see section 11, FRS102 SORP)) measured at fair value through the SoFA that is attributable to changes in credit risk.		N/A

24

Section C Notes to the accounts (cont)

Note 26 Events after the end of the reporting period

Please complete this note where events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.

Please provide details of the nature of the event N/A Provide an estimate of the financial effect of the event or a statement that such an estimate cannot be made N/A Note 27 Charity funds

Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds
27.1 Details of material funds held and movements during the CURRENT reporting period
Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.
* Key: PE - permanent endowment funds; EE - expendable endowment funds; R - unrestricted funds			restricted income funds, including special trusts, of the charity; and U -
Fund names	Type PE, EE **R or UR ***	Purpose and Restrictions	Fund balances brought forward	Income	Expenditure	Transfers	Gains and losses	Fund balances carried forward
			£	£	£	£	£	£
Donations including Gift aid	UR	To support the purposes of the charity	10,518	12,500		-	-	23,018
Chelmsford City Council Set up & core staffing support Grant	R	Can be applied to staffing costs, including but not limited to, solicitor and other professional fees, equipment, registration and other administrative costs	52,730	42,500	-19,025	-	-	76,205
Chelmsford City Council EU Welcome Back grant	R		12,405		-12,405	-	-	-
Royal Opera House Bridge	R		-	17,500	-17,500	-	-	-
Essex Community Foundation	R		-	5,000	-5,000	-	-	-
Chelmsford City Council Cultural Strategy	R		-	16,000	-16,000	-	-	-
Other funds (balancing figure)			-			-	-	-
Total Funds asper balance sheet			75,653	93,500	- 69,930	-	-	99,223
				Yes*	No*
Fund balances carried forward include assets and liabilities denominated in a foreign cur			rency		✓
If yes, please state the basis on which the assets and/or liabilities have been translated into sterling (or the currency in which the accounts are drawn up).			N/A

25

Note 27 Charity funds

Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds
27.2 Details of material funds held and movements during the PREVIOUS reporting period Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet. * Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
Donations including Gift aid Chelmsford City Council Set up & staffing support Grant Chelmsford City Council EU Welcome Back grant Royal Opera House Bridge Other funds (balancing figure) Fund names			UR R R R R Type PE, EE **R or UR ***								Fund balances brought forward			Income			Expenditure £ -12,595 -30,000 - - 42,595		Transfers		Gains and losses		Fund balances carried forward £ 10,518 52,730 12,405 - - - - 75,653
											£ 10,518 10,230 - - - - 20,748			£ 42,500 25,000 30,000 - 97,500					£ - - - - - - -			£ - - - - - - -
														Yes No
														Yes*			No*
																	✓
Section C Notes to the accounts														Amount (cont) o
27.3 Transfers between funds -there are none Note 27Charity funds (cont)
		Reason for transfer and where endowment is converted t income, legalpower for its conversion												o	Amount
Between unrestricted and restricted funds Between endowment and restricted funds
Between endowment and unrestricted funds
27.4 Designated funds -there are none
Section C Notes to the accounts														(cont)
Note 28 Transactions with trustees and related parties
If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.
28.1 Trustee remuneration and benefits
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)																		TRUE
Section C Notes to the accounts																		(cont)
Note 29 Additional Disclosures - there are none

26

Trustees’ annual report (including Directors’ report) for the period

From: 01/9/22 To: 31/3/23

Charity name: Chelmsford Cultural Development Trust

Charity registration number: 1180431

Company number: 10894512

Objectives and activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The Charitable Company has been established for the public benefit for the advancement of arts and culture in Chelmsford
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The Company was established as a Charity on 24/10/18. During this period the Executive Director returned from a sabbatical and subsequently resigned from the role, leaving the employ of the Trust during January 2023. The interim consultant Executive Director was recruited to the permanent position of Chief Executive from December 2022. In addition to fund raising activities the key focus has been implementing the Tea, Toast & Talk project as a charitable activity and initiating development of the Cultural Strategy.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	All trustees / directors completed induction training on the Charity Governance Code and the Public Benefit Requirement. The company’s memorandum and articles were amended by special resolution on 5/10/18 to reflect the refined public benefit purpose.

Achievements and performance

Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The Charity was provided with grant totalling £58,500 via Chelmsford City Council and has been working closely with the Council to ensure the purpose, priorities and focus align with their expectations. The Chief Executive (CE) and Executive Director (ED) continued a strong partnership approach to the developing Cultural Strategy and they were successful in securing a £17,500 grant from Royal Opera House Bridge and £5,000 from Essex Community Foundation for activity to be delivered.

1

Financial review

Financial review
Review of the charity’s financial position at the end of the period	Para 1.21	The Charity has ended the financial period with funds totalling £99,223. Grant and donor funding of £93,500 was received during the period. Gross expenditure of £69,930 was incurred.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The charity has established a minimum reserves requirement of £2,100 to allow for provision of loss against future funding streams.
Amount of reserves held	Para 1.22	At the 2022/23 period end Reserves stand at £99,223.
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. They have taken account of the current economic conditions and concluded that although increasing inflation is currently impacting costs of supplies the charity’s fundraising ability is encouraging and there are limited on-going commitments.

Structure, governance and management

Description of charity’s trusts:		Chelmsford Cultural Development Trust
Type of governing document: for example,trust deed, memorandum and articles of association etc	Para 1.25	Memorandum and Articles of Association – incorporated 1/8/17.
How is the charity constituted? for example limited company, unincorporated association, CIO	Para 1.25	A Charitable Company Limited by Guarantee Members of the company have provided a guarantee capped at £1 each.
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	The charity may appoint directors, the minimum number of directors is three and the maximum nine, however the Board may determine a higher number. Chelmsford City Council is entitled to nominate one individual to the Board as a Local Authority Nominee and decide their period of appointment.

2

Reference and administrative details

Charity name	Chelmsford Cultural Development Trust
Other name the charity uses	Culture Chelmsford
Registered charity number	1180431
Charity’s principal address	Civic Centre, Duke Street, Chelmsford Essex CM1 1JE

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13	Trustee name	Office (if any)	Dates acted if not for whole period	Name of person (or body) entitled to appoint trustee (ifany)
	Rear Admiral Roy Alexander George Clare CBE DL	Chair	To 3rdOctober 2022
	Mark Walmsley	Chair	From 3rdOctober 2022
	Benjamin Geoffrey Backhouse
	Julia Anne Frascona	Local Authority Nominee		Chelmsford City Council
	Ian Flint		To 3rdOctober 2022
	Nicola Jane Freshwater		To 19thJanuary 2023
	Stephanie Mitchener	Treasurer
	Caroline Porter
	Ajay Kumar Pabial
	Sarah Barfoot
	Elliot Boakes		From 13th December 2022
	Mark Garratt		From 13th December 2022
	Marie Goldman		10thJuly 2023

– Corporate trustees names of the directors at the date the report was approved

Director name None

There are no trustees holding title to property belonging to the charity. There are no Funds held as custodian trustees on behalf of others.

Additional information (optional)

Name of Chief Executive employed (optional information)

Claire Gevaux

Other optional information

Elliot Boakes provided company secretarial services to December 2022, invoicing for services provided

Declarations

The company has taken advantage of the small companies’ exemption in preparing the report above.

The trustees declare that they have approved the trustees’ report (including directors’ report) above.

Signed on behalf of the charity’s trustees/directors

3

Signature(s) Stephanie Mitchener Full name(s) Mark Walmsley Position Chair Treasurer Date 06/12/2023

4

	Charity Name: Chelmsford Cultural Development Trust	Charity Name: Chelmsford Cultural Development Trust	Charity Name: Chelmsford Cultural Development Trust	CharityNo	1180431	1180431
				CompanyNo	10894512
	Annual accounts for the period
	Period start date		01/09/2022	To	Period end date	31/03/2023

Section A Statement of financial activities (including summary income and expenditure account)

Recommended categories by activity	Recommended categories by activity	Guidance Note	Unrestricted funds	Restricted income funds	Endowment funds	Total funds	Prior year funds
			£	£	£	£	£
Income(Note 3)			F01	F02	F03	F04	F05
Income and endowments from:
Donations and legacies		S01	12,500	81,000	-	93,500	97,500
Charitable activities		S02	-	-	-	-	-
Other trading activities		S03	-	-	-	-	-
Investments		S04	-	-	-	-	-
Separate material item of income		S05	-	-	-	-	-
Other		S06	-	-	-	-	-
Total		S07	12,500	81,000	-	93,500	97,500
Expenditure(Notes 6)
Expenditure on:
Raising funds		S08	-	14,738	-	14,738	15,682
Charitable activities		S09	-	55,192	-	55,192	26,913
Separate material expense item		S10
Other		S11	-	-	-	-
Total		S12	-	69,930	-	69,930	42,595
Net income/(expenditure) before tax for the reporting period		S13	12,500	11,070	-	23,570	54,905
Taxpayable		S14	-	-	-	-	-
Net income/(expenditure) after tax before investmentgains/(losses)		S15	12,500	11,070	-	23,570	54,905
Net gains/(losses) on investments		S16	-	-	-	-	-
Net income/(expenditure)		S17	12,500	11,070	-	23,570	54,905
Extraordinary items		S18	-	-	-	-
Transfers between funds		S19	-	-	-	-	-
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets for the charity’s ow n use		S20	-	-	-	-	-
Other gains/(losses)		S21	-	-	-	-	-
Net movement in funds		S22	12,500	11,070	-	23,570	54,905
Reconciliation of funds:
Total funds brought forw ard		S23	10,518	65,135	-	75,653	20,748
Total funds carried forward		S24	23,018	76,205	-	99,223	75,653

5

Charity Name: Chelmsford Charity No 1180431 Cultural Development Trust Company No 10894512

Section B Balance sheet

	Guidance Note	Unrestricted funds	Restricted income funds	Endowment funds	Total this year	Total last year
		£	£	£	£	£
Fixed assets		F01	F02	F03	F04	F05
Intangible assets(Note 15)	B01	-	-	-	-	-
Tangible assets(Note 14)	B02	-	-	-	-	-
Heritage assets(Note 16)	B03	-	-	-	-	-
Investments(Note 17)	B04	-	-	-	-	-
Total fixed assets	B05	-	-	-	-	-
Current assets
Stocks(Note 18)	B06	-	-	-	-	-
Debtors(Note 19)	B07	-	45,000	-	45,000	-
Investments(Note 17.4)	B08	-	-	-	-	-
Cash at bank and in hand(Note 24)	B09	23,018	39,058	-	62,076	80,549
Total current assets	B10	23,018	84,058	-	107,076	80,549
Creditors: amounts falling due within oneyear(Note 20)	B11	-	7,853	-	7,853	4,896
Net current assets/(liabilities)	B12	23,018	76,205	-	99,223	75,653
Total assets less current liabilities	B13	23,018	76,205	-	99,223	75,653
Creditors: amounts falling due after oneyear(Note 20)	B14	-	-	-	-	-
Provisions for liabilities	B15	-	-	-	-	-
Total net assets or liabilities	B16	23,018	76,205	-	99,223	75,653
Funds of the Charity
Endowment funds(Note 27)	B17	-			-	-
Restricted income funds (Note 27)	B18		76,205		76,205	65,135
Unrestricted funds	B19	23,018		-	23,018 -	10,518
Revaluation reserve	B20
Fair value reserve	B21
Total funds	B22	23,018	76,205	-	99,223	75,653
The company was entitled to exemption from audit under s477 of the Companies Act 2006 small companies.						relating to
~~The members have not required the company to obtain an audit in accordance with section 476 of the~~ Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed by one or two trustees/directors on behalf of all the trustees/directors			Name			Date of approval dd/mm/yyyy
			Mark Walmsley			06/12/2023
			Ben Backhouse			06/12/2023
Signature of director authenticating accounts being sent to Companies House			Signature			Date dd/mm/yyyy
						06/12/2023
			Stephanie Mitchener

	Guidance Note	Unrestricted funds	Restricted income funds	Endowment funds	Total this year	Total last year
		£	£	£	£	£
Fixed assets		F01	F02	F03	F04	F05
Intangible assets(Note 15)	B01	-	-	-	-	-
Tangible assets(Note 14)	B02	-	-	-	-	-
Heritage assets(Note 16)	B03	-	-	-	-	-
Investments(Note 17)	B04	-	-	-	-	-
Total fixed assets	B05	-	-	-	-	-
Current assets
Stocks(Note 18)	B06	-	-	-	-	-
Debtors(Note 19)	B07	-	45,000	-	45,000	-
Investments(Note 17.4)	B08	-	-	-	-	-
Cash at bank and in hand(Note 24)	B09	23,018	39,058	-	62,076	80,549
Total current assets	B10	23,018	84,058	-	107,076	80,549
Creditors: amounts falling due within oneyear(Note 20)	B11	-	7,853	-	7,853	4,896
Net current assets/(liabilities)	B12	23,018	76,205	-	99,223	75,653
Total assets less current liabilities	B13	23,018	76,205	-	99,223	75,653
Creditors: amounts falling due after oneyear(Note 20)	B14	-	-	-	-	-
Provisions for liabilities	B15	-	-	-	-	-
Total net assets or liabilities	B16	23,018	76,205	-	99,223	75,653
Funds of the Charity
Endowment funds(Note 27)	B17	-			-	-
Restricted income funds (Note 27)	B18		76,205		76,205	65,135
Unrestricted funds	B19	23,018		-	23,018 -	10,518
Revaluation reserve	B20
Fair value reserve	B21
Total funds	B22	23,018	76,205	-	99,223	75,653
The company was entitled to exemption from audit under s477 of the Companies Act 2006 small companies.						relating to
~~The members have not required the company to obtain an audit in accordance with section 476 of the~~ Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed by one or two trustees/directors on behalf of all the trustees/directors			Name			Date of approval dd/mm/yyyy
			Mark Walmsley			06/12/2023
			Ben Backhouse			06/12/2023
Signature of director authenticating accounts being sent to Companies House			Signature			Date dd/mm/yyyy
						06/12/2023
			Stephanie Mitchener

~~6~~

Section C Notes to the accounts

Note 1Basis ofpreparation
This section should be completed by all charities.
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s)to these accounts.
The accounts have beenprepared in accordance with:
• and with*	✓	the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
• and with*	✓	the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)
• and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.*					✓
* -Tick as appropriate
1.2 Going concern
If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:
The guidance on the implications of Covid-19 suggests that charities should take the opportunity to explain any financial uncertainties regarding the charity’s financial sustainability and consideration of going concern and the steps being taken to address these uncertainties.
An explanation as to those factors that support the conclusion that the charity is a going concern;				The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts.
Disclosure of any uncertainties that make the going concern assumption doubtful;
Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.

7

1.3 Change of accounting policy

The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.

1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of the change in accounting policy;
(ii) the reasons why applying the new accounting policy provides more reliable and more relevant information; and
(iii) the amount of the adjustment for each line affected in the current period, each prior period presented and the aggregate amount of the adjustment relating to periods before those presented, 3.44 FRS102 SORP.
1.4 Changes to accounting estimates
No changes to accountingestimates have occurred in the reporting period (3.46 FRS102 SORP).
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of any changes;
(ii) the effect of the change on income and expense or assets and liabilities for the current period; and
(iii) where practicable, the effect of the change in one or more future periods.
1.5 Materialprioryear e		rrors
No materialprioryearerro		r have been identified in the reporting period(3.47 FRS102 SORP).
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of the prior period error;
(ii) for each prior period presented in the accounts, the amount of the correction for each account line item affected; and
(iii) the amount of the correction at the beginning of the earliest prior period presented in the accounts.

1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy	1.3 Change of accounting policy
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of the change in accounting policy;
(ii) the reasons why applying the new accounting policy provides more reliable and more relevant information; and
(iii) the amount of the adjustment for each line affected in the current period, each prior period presented and the aggregate amount of the adjustment relating to periods before those presented, 3.44 FRS102 SORP.
1.4 Changes to accounting estimates
No changes to accountingestimates have occurred in the reporting period (3.46 FRS102 SORP).
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of any changes;
(ii) the effect of the change on income and expense or assets and liabilities for the current period; and
(iii) where practicable, the effect of the change in one or more future periods.
1.5 Materialprioryear e		rrors
No materialprioryearerro		r have been identified in the reporting period(3.47 FRS102 SORP).
Yes*	✓	* -Tick as appropriate
No*
Please disclose:
(i) the nature of the prior period error;
(ii) for each prior period presented in the accounts, the amount of the correction for each account line item affected; and
(iii) the amount of the correction at the beginning of the earliest prior period presented in the accounts.

8

Section C Notes to the accounts (cont)

Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.
2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE
Please provide a description of the nature of each change in accounting policy
Reconciliation of funds per previous GAAP to funds determined under FRS 102
	Start of period	End of period
	£	£
Fund balances as previously stated
Adjustments:
Fund balance as restated
Reconciliation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
		End of
		£
Net income/(expenditure) as previously stated
Adjustments:
Previous period net income/(expenditure) as restated

Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.
2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE
Please provide a description of the nature of each change in accounting policy
Reconciliation of funds per previous GAAP to funds determined under FRS 102
	Start of period	End of period
	£	£
Fund balances as previously stated
Adjustments:
Fund balance as restated
Reconciliation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
		End of
		£
Net income/(expenditure) as previously stated
Adjustments:
Previous period net income/(expenditure) as restated

9

Section C Notes to the accounts (cont)

Note 2 Accounting policies
2.2 INCOME
Recognition of income	These areincludedinthe Statement of Financial Activities (SoFA)when:
	• the charity becomes entitled to theresources;
	• itismorelikely than not that the trusteeswill receive theresources;				Yes*	No*	N/a*
	• themonetaryvalue canbemeasuredwithsufficientreliability.				✓
Offsetting	There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.				Yes*	No*	N/a*
					✓
Grants and donations	Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).				Yes*	No*	N/a*
					✓
	In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).				Yes*	No*	N/a*
							✓
Legacies	Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.				Yes*	No*	N/a*
							✓
Government grants	The charity has received government grants in the reporting period				Yes*	No*	N/a*
					✓
Tax reclaims on donations and gifts	Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.				Yes*	No*	N/a*
					✓
Contractual income and performance related grants	This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.				Yes*	No*	N/a*
							✓
Donated goods	Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.				Yes*	No*	N/a*
							✓
	The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carryingamount of the stocks at distribution.				Yes*	No*	N/a*
							✓
	Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other tradingactivities'.				Yes*	No*	N/a*
							✓
	Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.				Yes*	No*	N/a*
							✓
	Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.				Yes*	No*	N/a*
							✓

10

Donated services and facilities	Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.		Yes*	No*	N/a*
					✓
	Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate headingin the SOFA.		Yes*	No*	N/a*
					✓
Support costs	The charity has incurred expenditure on support costs.		Yes*	No*	N/a*
			✓
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.		Yes*	No*	N/a*
					✓
Income from interest, royalties and dividends	This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.		Yes*	No*	N/a*
					✓
Income from membership subscriptions	Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.		Yes*	No*	N/a*
					✓
	Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.		Yes*	No*	N/a*
					✓
Settlement of insurance claims	Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA.		Yes*	No*	N/a*
					✓
Investment gains and losses	This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.		Yes*	No*	N/a*
					✓
2.3 EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.		Yes*	No*	N/a*
			✓
Governance and support costs	Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.		Yes*	No*	N/a*
			✓
	Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.		Yes*	No*	N/a*
			✓
Grants with performance conditions	Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.		Yes*	No*	N/a*
					✓
Grants payable without performance conditions	Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.		Yes*	No*	N/a*
					✓
Redundancy cost	The charity made no redundancy payments during the reporting period.		Yes*	No*	N/a*
			✓
Deferred income	No material item of deferred income has been included in the accounts.		Yes*	No*	N/a*
			✓
Creditors	The charity has creditors which are measured at settlement amounts less any trade discounts		Yes*	No*	N/a*
				✓
Provisions for liabilities	A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date		Yes*	No*	N/a*
					✓
Basic financial instruments	The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17to11.19,FRS102SORP.		Yes*	No*	N/a*
			✓

11

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2.4 ASSETS
Tangible fixed assets for These are capitalised if they can be used for more than one year, and cost at least
£500
use by charity Yes No N/a
They are valued at cost.
✓
The depreciation rates and methods used are disclosed in note 14.
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through Yes No N/a
Intangible fixed assets
custody or legal rights. The amortisation rates and methods used are disclosed in
note 15. ✓
They are valued at cost. Yes No N/a
✓
The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and Yes No N/a
Heritage assets
maintained principally for their contribution to knowledge and culture. The ✓
depreciation rates and methods used as disclosed in note 16.
Yes No N/a
They are valued at cost. ✓
Fixed asset investments in quoted shares, traded bonds and similar investments are
Investments valued at initially at cost and subsequently at fair value (their market value) at the Yes No N/a
year end. The same treatment is applied to unlisted investments unless fair value
cannot be measured reliably in which case it is measured at cost less impairment. ✓
Investments held for resale or pending their sale and cash and cash equivalents with a Yes No N/a
maturity date of less than 1 year are treated as current asset investments ✓
Stocks and work in Stocks held for sale as part of non-charitable trade are measured at the lower or cost Yes No N/a
progress or net realisable value. ✓
Goods or services provided as part of a charitable activity are measured at net Yes No N/a
realisable value based on the service potential provided by items of stock. ✓
Work in progress is valued at cost less any foreseeable loss that is likely to occur on Yes No N/a
the contract. ✓
Debtors (including trade debtors and loans receivable) are measured on initial
recognition at settlement amount after any trade discounts or amount advanced by Yes No N/a
Debtors
the charity. Subsequently, they are measured at the cash or other consideration
✓
expected to be received.
Current asset The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on Yes No N/a
investments deposit and cash equivalents with a maturity of loss than one year held for investment ✓
purposes rather than to meet short-term cash commitments as they fall due.
Yes No N/a
They are valued at fair value except where they qualify as basic financial instruments. ✓
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM
THOSE ABOVE
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12

Section C Notes to the accounts (cont)

Note 3	Income
	Analysis of income	Unrestricte d funds	Restricted income funds	Endowmen t funds	Total funds	Prioryear
					£	£
Donations and legacies:	Donations and gifts	10,000		-	10,000	-
	Gift Aid	2,500		-	2,500
	Legacies	-	-	-	-	-
	General grants provided by government/other charities		81,000	-	81,000	97,500
	Membership subscriptions and sponsorships which are in substance donations	-	-	-	-
	Donatedgoods,facilities and services	-	-	-	-	-
	Other	-	-	-	-
	Total	12,500	81,000	-	93,500	97,500
Charitable activities:		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
Other trading activities:		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
Income from investments:	Interest income	-	-	-	-	-
	Dividend income	-	-	-	-	-
	Rental and leasing income	-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
Separate material item of income		-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
	Total	-	-	-	-	-
Other:	Conversion of endowment funds into income	-	-	-	-	-
	Gain on disposal of a tangible fixed asset held for charity's own use	-	-	-	-	-
	Gain on disposal of a programme related investment	-	-	-	-	-
	Royalties from the exploitation of intellectual property rights	-	-	-	-	-
	Other	-	-	-	-	-
	Total	-	-	-	-	-
TOTAL INCOME		12,500	81,000	-	93,500	97,500
Other information:
All income in the prior year was unrestricted except for: (please provide description and amounts)		£42,500 grant awarded by Chelmsford City Council, £25,000 EU Welcome Back grant and £30,000 from Royal Opera House Bridge
Where any endowment fund is converted into income in the reporting period, please give the reason for the conversion.		N/A
Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)		£58,500 grant funding from Chelmsford City Council (prior year £42,500) and £17,500 from Royal Opera House Bridge (prior year £30,000)
Where sums originally denominated in foreign currency have been included in income, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).		N/A

13

Section C	Notes to the accounts	Notes to the accounts	(cont)	(cont)
Note 4 Analysis of receipts ofgovernmentgrants
			Thisyear		Lastyear
		Description	£		£
Government grant 1		Chelmsford City Council-core grant	42,500		42,500
Government grant 2		Chelmsford City Council-EU Welcome back	-		25,000
Government grant 3		Chelmsford City Council-Cultural Strategy	16,000		-
Government grant 4		Royal Opera House Bridge	17,500		30,000
		Total	76,000		97,500
Please provide details of any
unfulfilled conditions and other
contingencies attaching to grants		N/A
that have been recognised in
income.
Please give details of other forms
of government assistance from which the charity has directly		N/A
benefited.

Section C Notes to the accounts	Section C Notes to the accounts	(cont)	(cont)	(cont)
Note 4 Analysis of receipts ofgovernmentgrants
	Description	Thisyear	Lastyear
		£	£
Government grant 1	Chelmsford City Council-core grant	42,500	42,500
Government grant 2	Chelmsford City Council-EU Welcome back	-	25,000
Government grant 3	Chelmsford City Council-Cultural Strategy	16,000	-
Government grant 4	Royal Opera House Bridge	17,500	30,000
	Total	76,000	97,500
Please provide details of any unfulfilled conditions and other contingencies attaching to grants that have been recognised in income.	N/A
Please give details of other forms of government assistance from which the charity has directly benefited.	N/A
Section C	Notes to the accounts	(cont)
Note 5 Donatedgoods, facilities and services
		Thisyear		Lastyear
		£		£
Seconded staff		-		-
Use ofproperty		-		-
Other		-		-
		-		-
Please provide details of the accounting policy for the recognition and valuation of donated goods, facilities and services.	N/A
Please provide details of any unfulfilled conditions and other contingencies attaching to resources from donated goods and services not recognised in income.	N/A
Please give details of other forms of other donated goods and services not recognised in the accounts, eg contribution of unpaid volunteers.	N/A

14

Note 6	Expenditure	Expenditure
	Analysis of expenditure		Unrestricted funds	Restricted income funds	Endowmen t funds	Total funds	Prioryear
						£	£
Expenditure on raising funds:	Incurred seekingdonations		-	2,948	-	2,948	3,136
	Incurred seeking legacies		-	-	-	-	-
	Incurred seeking grants			11,790		11,790	12,546
	Operating membership schemes and social lotteries
	Stagingfundraisingevents
	Fundraising agents
	Operating charity shops
	Operating a trading company undertaking non-charitable tradingactivity
	Advertising, marketing, direct mail and publicity		-	-	-	-	-
	Start up costs incurred in generating new source of future income		-	-	-	-	-
	Database development costs		-	-	-	-	-
	Other trading activities
	Investment management costs:		-	-	-	-
	Portfolio management costs		-	-	-	-	-
	Cost of obtaining investment advice		-	-	-	-	-
	Investment administration costs		-	-	-	-	-
	Intellectual property licencing costs		-	-	-	-	-
	Rent collection, property repairs and maintenance charges		-	-	-	-	-
			~~-~~	~~-~~	~~-~~	~~-~~	~~-~~
	Total expenditure on raising funds		-	14,738	-	14,738	15,682
Expenditure on charitable activities	See Note 9			28,792	-	28,792	18,682
	Cultural Strategy Activity		-	26,400	-	26,400	8,231
			-	-	-	-	-
			-	-	-	-	-
	Total expenditure on charitable activities		-	55,192	-	55,192	26,913
Separate material item of expense			-	-	-	-	-
			-	-	-	-	-
			-	-	-	-	-
			-	-	-	-	-
	Total		-	-	-	-	-
Other					-	-
			-	-	-	-	-
			-	-	-	-	-
	Total other expenditure		-	-	-	-	-
TOTAL EXPENDITURE			-	69,930	-	69,930	42,595
Other information:
Analysis of expenditure on charitable activities
Activity or programme	Activities undertaken directly			Grant funding of activities	Support Costs	Total this year	Total prior year
	£			£	£	£	£
Activity1	Delivering grantfundingrequirements				28,792	28,792	18,682
Activity2	CulturalStrategy development				26,400	26,400	8,231
Other
Total					55,192	55,192	26,913
Prior year expenditure on charitable activities can be analysed as follows:		Continuing to establ	ishthe charity and Chelmsford CulturalStrategy
Within the expenditure items above the following items are material: (please disclose the nature, amount and any prior year amounts)		Employees £18,677and consultancy costs £43,042(Prioryear£28,714)
Where sums originally denominated in foreign currency have been included in expenditure, explain the basis on which those sums have been translated into sterling (or the currency in which the accounts are drawn up).		N/A

15

Section C Notes to the accounts (cont)

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Note 7 Extraordinary items - there are none
Please explain the nature of each extraordinary item occurring in the period.
This year Last year
Description £ £
Extraordinary item 1
N/A
- -
Extraordinary item 2
- -
- -
Extraordinary item 3
- -
Extraordinary item 4
- -
Total extraordinary items - -
Section C Notes to the accounts
Note 8 Funds received as agent - there are none
8.1 Please complete this note if the charity has agreed to administer the funds of another entity as its agent. Note: If a
charity is acting as an agent, it should not recognise the income in the Statement of Financial Activities or the Balance
Sheet.
Balance held at period
Amount received Amount paid outpaid outaid out end
Description/name of party Related
party (Yes This yearyearear Last yearyearear This yearyearear Last yearyearear This yearyearear Last yearyearear
or No) £ £ £ £ £ £
N/A
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Total - - - - - -
8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in
the purchase of goods or services, please disclose details of any balances outstanding between any participating
members.
Balance held at period
Description/name of party
end
This yearyearear Last yearyearear
£ £
- -
- -
- -
- -
- -
Total - -
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Balance held at period
Amount received Amount paid outpaid outaid out end
Description/name of party Related
party (Yes This yearyearear Last yearyearear This yearyearear Last yearyearear This yearyearear Last yearyearear
or No) £ £ £ £ £ £
N/A
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Total - - - - - -
8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in
the purchase of goods or services, please disclose details of any balances outstanding between any participating
members.
Balance held at period
Description/name of party
end
This yearyearear Last yearyearear
£ £
- -
- -
- -
- -
- -
Total - -
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16

Note 9 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

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Charitable Cultural Basis of
Raising funds Activities Strategy Activity 3 Grand total allocation
Support cost (Describe
(examples) £ £ £ £ £ method)
1,000 - 1,000 100%
Governance Charitable
(Company secretary) activity
Chief Executive & 13,389 13,388 - 26,777
Executive Director Split 50:50
148 148 - 296
Payroll Services
Split 50:50
115 115 - 230
Insurance
Split 50:50
12,702 12,702
Consultancy
1,086 1,439 26,400 - 28,925 Split 50:50
Other - expenses business rates
charitable
activity only
14,738 28,792 26,400 - 69,930
Total
This assumes all activities of the Trust, other than
Governance, Other expenses and Cultural Strategy
activities, are split equally between Raising Funds
Please provide details of the accounting policy
adopted for the apportionment of costs between & Charitable Activities. Governance is deemed
activities and any estimation techniques used to 100% Charitable Activity, Other is split 50:50 other
calculate their apportionment. than ££353 business rates for charitable delivery
and there are a mix of costs attributed to the
Cultural Strategy activity.
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Note 10 Details of certain types of expenditure
Note 10.1 Fees for examination of the accounts
Please provide details of the amount paid for any statutory external scrutiny of
accounts and other services provided by your independent examiner. If
nothing was paid please enter '0' in the appropriate box(es).
This year Last year
£ £
Independent examiner’s fees
610 650
Assurance services other than independent examination
0 0
Tax advisory fees
0 0
Other fees (for example: financial advice, consultancy, accountancy services)
paid to the independent examiner 0 0
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17

Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees
Please complete this note if the charity has any employees (transactions with Trustees dealt with in Note 28)
11.1 Staff Costs
			Thisyear	Lastyear
			£	£
Salaries and wages			17,691	11,072
Social security costs			-	-
Pension costs(defined contributionpensionplan)			986	542
Other employee benefits			-	-
Total staff costs			18,677	11,614
Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party			N/A
Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000			TRUE
Band		Number of employees
£60,000 to £69,999			0
£70,000 to £79,999			0
£80,000 to £89,999			0
£90,000 to £99,999			0
£100,000 to £109,999			0
Please provide the total amount paid to key management personnel (includes trustees and senior management) for their services to the charity. For specific amounts paid to trustees, see Note 28.			£17,691
11.2 Average head count in the year			Thisyear	Lastyear
			Number	Number
The parts of the charity in which the employees work		Fundraising	0.40	0.40
		Charitable Activities	0.60	0.60
		Governance	-	-
		Other	-	-
		Total	1.00	1.00
11.3 Ex-gratiapayments to employees		and others(excluding trustees)
Please complete if an ex-gratia payment is made.
Please explain the nature of the payment		company secretarialservices
Please state the legal authority or reason for making the payment		To covercompany secretarialduties as agreed by theTrustBoard
Please state the amount of the payment (or value of any waiver of a right to an asset)		£1,000
11.4 Redundancy payments
Please complete if any redundancy or		termination payment is made in the period.
Total amount ofpayment		0
The nature of the payment (cash, asset etc.)
The extent of redundancy funding at the balance sheet date
Please state the accounting policy for any redundancy or termination payments

Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees	Note 11 Paid employees
Please complete this note if the charity has any employees (transactions with Trustees dealt with in Note 28)
11.1 Staff Costs
			Thisyear	Lastyear
			£	£
Salaries and wages			17,691	11,072
Social security costs			-	-
Pension costs(defined contributionpensionplan)			986	542
Other employee benefits			-	-
Total staff costs			18,677	11,614
Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party			N/A
Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000			TRUE
Band		Number of employees
£60,000 to £69,999			0
£70,000 to £79,999			0
£80,000 to £89,999			0
£90,000 to £99,999			0
£100,000 to £109,999			0
Please provide the total amount paid to key management personnel (includes trustees and senior management) for their services to the charity. For specific amounts paid to trustees, see Note 28.			£17,691
11.2 Average head count in the year			Thisyear	Lastyear
			Number	Number
The parts of the charity in which the employees work		Fundraising	0.40	0.40
		Charitable Activities	0.60	0.60
		Governance	-	-
		Other	-	-
		Total	1.00	1.00
11.3 Ex-gratiapayments to employees		and others(excluding trustees)
Please complete if an ex-gratia payment is made.
Please explain the nature of the payment		company secretarialservices
Please state the legal authority or reason for making the payment		To covercompany secretarialduties as agreed by theTrustBoard
Please state the amount of the payment (or value of any waiver of a right to an asset)		£1,000
11.4 Redundancy payments
Please complete if any redundancy or		termination payment is made in the period.
Total amount ofpayment		0
The nature of the payment (cash, asset etc.)
The extent of redundancy funding at the balance sheet date
Please state the accounting policy for any redundancy or termination payments

~~18~~

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Note 12 Defined contribution pension scheme or defined benefit scheme
accounted for as a defined contribution scheme.
12.1 Please complete this note if a defined contribution pension scheme is operated.
Amount of contributions recognised £986
in the SOFA as an expense
Please explain the basis for Employee costs have been allocated 40:60 between activities, all
allocating the liability and expense of applied to restricted funds as either forms part of running the Trust /
defined contribution pension scheme seeking new funding.
between activities and between
restricted and unrestricted funds.
12.2 Please complete this section where the charity participates in a defined benefit pension plan but
is unable to ascertain its share of the underlying assets and liabilities.
Please confirm that although the NEST is a defined contribution occupational pension scheme
scheme is accounted for as a defined backed by the government, it is not a defined benefit pension plan.
contribution plan, it is a defined
benefit plan.
Please provide such information as is
available about the plan's surplus or
N/A
deficit and the implications, if any, for
the reporting charity
12.3 Please complete this section where the charity participates in a multi-employer defined benefit
pension plan that is accounted for as a defined contribution plan.
Describe the extent to which the
charity can be liable to the plan for
other entities' obligations under the N/A
terms and conditions of the multi-
employer plan
Explain how any liability arising from
an agreement with a multi-employer
N/A
plan to fund a deficit has been
determined.
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Note 12 Defined contribution pension scheme or defined benefit scheme
accounted for as a defined contribution scheme.
12.1 Please complete this note if a defined contribution pension scheme is operated.
Amount of contributions recognised £986
in the SOFA as an expense
Please explain the basis for Employee costs have been allocated 40:60 between activities, all
allocating the liability and expense of applied to restricted funds as either forms part of running the Trust /
defined contribution pension scheme seeking new funding.
between activities and between
restricted and unrestricted funds.
12.2 Please complete this section where the charity participates in a defined benefit pension plan but
is unable to ascertain its share of the underlying assets and liabilities.
Please confirm that although the NEST is a defined contribution occupational pension scheme
scheme is accounted for as a defined backed by the government, it is not a defined benefit pension plan.
contribution plan, it is a defined
benefit plan.
Please provide such information as is
available about the plan's surplus or
N/A
deficit and the implications, if any, for
the reporting charity
12.3 Please complete this section where the charity participates in a multi-employer defined benefit
pension plan that is accounted for as a defined contribution plan.
Describe the extent to which the
charity can be liable to the plan for
other entities' obligations under the N/A
terms and conditions of the multi-
employer plan
Explain how any liability arising from
an agreement with a multi-employer
N/A
plan to fund a deficit has been
determined.
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19

Section C Notes to the accounts (cont)

Note 13 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

13.1 Analysis of grants paid (included in cost of charitable activities)

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Grants to Grants to
Analysis institutions individuals Support costs Total
Activity or project 1 - -
Activity or project 2 - -
Activity or project 3 - -
Activity or project 4 - -
Total - - - -
Please enter “Nil” if the charity does not identify and/or allocate support costs.
13.2 Grants made to institutions
Please provide
My charity has made grants to particular institutions that are material
details of
in the context of its grantmaking. Details of the institution supported, '
charity s URL.
purpose of the grant and total paid to each institution is available on
Provide details
the charity's web site.
below
Total amount of
Names of institution Purpose
grants paid £
-
-
-
-
-
-
-
-
-
-
Total grants to institutions in reporting period -
Other unanalysed grants -
TOTAL GRANTS PAID -
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20

Note 14 Tangible fixed assets	Note 14 Tangible fixed assets	Note 14 Tangible fixed assets	Note 14 Tangible fixed assets	Note 14 Tangible fixed assets
Please complete this note if the charity has any tangible fixed assets
14.1 Cost or valuation
	Freehold land & buildings	Other land & buildings	Plant, machinery and motor vehicles	Fixtures, fittings and equipment	Total
	£	£	£	£	£
At the beginning of the year	-	-	-	779	779
Additions	-	-	-	-	-
Revaluations	-	-	-	-	-
Disposals	-	-	-	-	-
Transfers *	-	-	-	-	-
At end of the year	-	-	-	779	779
14.2 Depreciation and impairments
**Basis	SL or RB	SL or RB	SL or RB	Straight Line	SL or RB	Straight Line ("SL") or Reducing Balance
** Rate				3 Years
At beginning of the year	-	-	-	779	779
Disposals	-	-	-	-	-
Depreciation	-	-	-	-	-
Impairment	-	-	-	-	-
Transfers*	-	-	-	-	-
At end of the year	-	-	-	779	779
14.3 Net book value
Net book value at the beginning of the year	-	-	-	-	-
Net book value at the end of the year	-	-	-	-	-
14.4 Impairment
Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.			N/A
14.5 Revaluation
If an accounting policy of revaluation is adopted, please provide:
the effective date of the revaluation			N/A
the name of independent valuer, if applicable
the methods applied and significant assumptions
the carrying amount that would have been recognised had the assets been carried under the cost model.
14.6 Other disclosures
(i) Please state the amount of borrowing costs, if any, capitalised in the construction of tangible fixed assets and the capitalisation			N/A
(ii) Please provide the amount of contractual commitments for the acquisition of tangible fixed assets.			N/A
(iii) Details of the existence and carrying amounts of property, plant and equipment to which the charity has restricted title or that arepledged as security for liabilities.			N/A
* The"transfers" row is for movements between fixed asset categories.
** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is thepercentage annual deduction.

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Section C Notes to the accounts

Note 15 Intangible assets - there are none

Please complete this note if the charity has any intangible assets

Section C Notes to the accounts (cont)

Note 16 Heritage assets - there are none

Section C Notes to the accounts (cont)

Note 17 Investment assets - there are none

Please complete this note if the charity has any investment assets.

Section C Notes to the accounts

Note 18 Stocks - there are none

Please complete this note if the charity holds any stock items

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Note 19 Debtors and prepayments
Please complete this note if the charity has any debtors or prepayments.
19.1 Analysis of debtors
This yearyearear Last yearyearear
£ £
Trade debtors - -
Prepayments and accrued incomepayments and accrued incomeayments and accrued incomeyments and accrued incomements and accrued income 45,000 - ,000 - 000 -
Other debtors - -
Total 45,000 -
Complete 19.2 where a material debtor is recoverable more than a year after the reporting
date.
19.2 Disclosure of debtors recoverable in more than 1 year (included in debtors above)
This yearyearear Last yearyearear
£ £
Trade debtors - -
Prepayments and accrued incomepayments and accrued incomeayments and accrued incomeyments and accrued incomements and accrued income - -
Other debtors -
Total - -
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Note 19 Debtors and prepayments
Please complete this note if the charity has any debtors or prepayments.
19.1 Analysis of debtors
This yearyearear Last yearyearear
£ £
Trade debtors - -
Prepayments and accrued incomepayments and accrued incomeayments and accrued incomeyments and accrued incomements and accrued income 45,000 - ,000 - 000 -
Other debtors - -
Total 45,000 -
Complete 19.2 where a material debtor is recoverable more than a year after the reporting
date.
19.2 Disclosure of debtors recoverable in more than 1 year (included in debtors above)
This yearyearear Last yearyearear
£ £
Trade debtors - -
Prepayments and accrued incomepayments and accrued incomeayments and accrued incomeyments and accrued incomements and accrued income - -
Other debtors -
Total - -
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Note 20 Creditors and accruals
Please complete this note if the charity has any creditors or accruals.
20.1 Analysis of creditors
Amounts falling due Amounts falling due
within one year after more than one year
This year Last year This year Last year
£ £ £ £
Accruals for grants payable - - - -
Bank loans and overdrafts - - - -
Trade creditors - - - -
Payments received on account for
contracts or performance-related grants - - - -
Accruals and deferred income - - - -
Taxation and social security - - - -
Other creditors 7,853 4,896 -
Total 7,853 4,896 - -
20.2 Deferred income
Please complete this note if the charity has deferred income.
Please explain the reasons why income is deferred.
Movement in deferred income account This year Last year
£ £
Balance at the start of the reporting period - -
Amounts added in current period - -
Amounts released to income from previous periods - -
Balance at the end of the reporting period - -
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Section C Notes to the accounts (cont)

Note 21 Provisions for liabilities and charges - there are none

You should complete this note if you have included in the charity expenditure any provisions. A provision is made when the charity has a liability of uncertain timing or amount.

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Section C Notes to the accounts (cont)

Note 22 Other disclosures for debtors, creditors and other basic financial instruments
22.1 Please provide information about the significance of financial instruments (eg. debtors, creditors, investments etc) to the charity's financial position or performance, for example, the terms and conditions of loans or the use of hedging to manage financial risk.	N/A
22.2 If the charity has provided financial assets as a form of security, the carrying amount of the financial assets pledged as security and the terms and conditions related to its pledge should be given here.	N/A

Section C Notes to the accounts	Section C Notes to the accounts	Section C Notes to the accounts	Section C Notes to the accounts	Section C Notes to the accounts	(cont) one Thisyear Lastyear £ £ - - - - 62,075 80,549 - - 62,075 80,549	(cont) one Thisyear Lastyear £ £ - - - - 62,075 80,549 - - 62,075 80,549	(cont) one Thisyear Lastyear £ £ - - - - 62,075 80,549 - - 62,075 80,549	(cont) one Thisyear Lastyear £ £ - - - - 62,075 80,549 - - 62,075 80,549
Note 23 Contingent liabilities and contingent assets -there are n					one
Note 24 Cash at bank and in hand
					Thisyear		Lastyear
					£		£
Short term cash investments(less than 3 months maturity date)					-		-
Short term deposits					-		-
Cash at bank and on hand					62,075		80,549
Other					-		-
Total					62,075		80,549
Section C Notes to the accounts					(cont)
Note 25 Fair value of assets and liabilities
25.1 Please provide details of the charity's exposure to credit risk (the risk of incurring a loss due to a debtor not paying what is owed) , liquidity risk (the risk of not being able to meet short term financial demands) and market risk (the risk that the value of an investment will fall due to changes in the market) arising from financial instruments to which the charity is exposed at the end of the reporting period and explain how the charity manages those risks.		The trustees do not deem the charity to be exposed to these risks.
25.2 Please give details of the amount of change in the fair value of basic financial instruments (debtors, creditors, investments (see section 11, FRS102 SORP)) measured at fair value through the SoFA that is attributable to changes in credit risk.		N/A

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Section C Notes to the accounts (cont)

Note 26 Events after the end of the reporting period

Please complete this note where events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.

Please provide details of the nature of the event N/A Provide an estimate of the financial effect of the event or a statement that such an estimate cannot be made N/A Note 27 Charity funds

Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds
27.1 Details of material funds held and movements during the CURRENT reporting period
Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.
* Key: PE - permanent endowment funds; EE - expendable endowment funds; R - unrestricted funds			restricted income funds, including special trusts, of the charity; and U -
Fund names	Type PE, EE **R or UR ***	Purpose and Restrictions	Fund balances brought forward	Income	Expenditure	Transfers	Gains and losses	Fund balances carried forward
			£	£	£	£	£	£
Donations including Gift aid	UR	To support the purposes of the charity	10,518	12,500		-	-	23,018
Chelmsford City Council Set up & core staffing support Grant	R	Can be applied to staffing costs, including but not limited to, solicitor and other professional fees, equipment, registration and other administrative costs	52,730	42,500	-19,025	-	-	76,205
Chelmsford City Council EU Welcome Back grant	R		12,405		-12,405	-	-	-
Royal Opera House Bridge	R		-	17,500	-17,500	-	-	-
Essex Community Foundation	R		-	5,000	-5,000	-	-	-
Chelmsford City Council Cultural Strategy	R		-	16,000	-16,000	-	-	-
Other funds (balancing figure)			-			-	-	-
Total Funds asper balance sheet			75,653	93,500	- 69,930	-	-	99,223
				Yes*	No*
Fund balances carried forward include assets and liabilities denominated in a foreign cur			rency		✓
If yes, please state the basis on which the assets and/or liabilities have been translated into sterling (or the currency in which the accounts are drawn up).			N/A

25

Note 27 Charity funds

Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds	Note 27 Charity funds
27.2 Details of material funds held and movements during the PREVIOUS reporting period Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet. * Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
Donations including Gift aid Chelmsford City Council Set up & staffing support Grant Chelmsford City Council EU Welcome Back grant Royal Opera House Bridge Other funds (balancing figure) Fund names			UR R R R R Type PE, EE **R or UR ***								Fund balances brought forward			Income			Expenditure £ -12,595 -30,000 - - 42,595		Transfers		Gains and losses		Fund balances carried forward £ 10,518 52,730 12,405 - - - - 75,653
											£ 10,518 10,230 - - - - 20,748			£ 42,500 25,000 30,000 - 97,500					£ - - - - - - -			£ - - - - - - -
														Yes No
														Yes*			No*
																	✓
Section C Notes to the accounts														Amount (cont) o
27.3 Transfers between funds -there are none Note 27Charity funds (cont)
		Reason for transfer and where endowment is converted t income, legalpower for its conversion												o	Amount
Between unrestricted and restricted funds Between endowment and restricted funds
Between endowment and unrestricted funds
27.4 Designated funds -there are none
Section C Notes to the accounts														(cont)
Note 28 Transactions with trustees and related parties
If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.
28.1 Trustee remuneration and benefits
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)																		TRUE
Section C Notes to the accounts																		(cont)
Note 29 Additional Disclosures - there are none

26

Independont Examin0￿8 Report to the Trustees of ChelmsfNd Cultural Devolopmont Trust report to the trustees {who are also Directors for the PUTpose of company law) on my examinalion of Ihe financial statemenls of Chelmsford Cullural Develcpmenl Trust ('the charitable company,) for the period ended 31 March 2023 which comprise the Statement of Financial kttvthes, the Baance Sheet and rdated notes. This report is made solely to the charity's trustees, ag a txyty, in ￿cOrdar￿e with section 145 of the Charities Act 2011. My work has b8en undertaken so that I might state to the charity's trustees those matter51 am required to state to them in th￿ report and for no other purpose. To the fullest extent pemiitted by law. I do not accept or &SSLThe responsibility to anyone other than the charity and the charity's tntslees as a bc4Jy. for my worf(, for this report. or for the opinions I have fCffl￿d. Rosponsibilitios basis of report As the trustees rA tharita￿e company you are reswnsible for the preparatK)n of the finanrial statements in &cordance ￿1th the requirements of the Compardes Ad 20Cffj ('the 2006 Act,). Having satisfied mysdf that the fina￿la1 statements of the charitable company are not required to be audited under Part 16 of the Act and are eligit￿e for independent examination, I reFQrt in resped of rrry exanination cl the charrtable C(￿pary'S fina￿la1 statements carried out under s￿li0n 145 of the Charities Ad 2011 {'the 2011 Act'l and in carryirrfJ out ry examination I have followed all the applicable Directions gtven by the Charity Ccfflmission under section 145151(b) of the 2011 kt. Indop0nd0nt oxamlnor's $tstomont I have completed my examination. I confinn that no material matters have cc¥ne to my attention in conn&tion bMth the examination giviNJ me cause to believe that in ary material respect: accounting records were not kept in res￿ of the Charitat￿e company as required by section 386 of the 2006 Acl; or the finar￿la1 statements do not ￿COrd with those records; or the finar￿la1 statements do not comply the accounting requirements of sedion 3￿ of the 201￿ Act other than any requirement that the financial statements give a 'tnJe and fair view, vthich is rK)t a matter considered as part crf an independent examination., or the finanaal slatemenls have nol been prepared in a(xordance bmth the metI￿3dS and principles of the Statement of ReCC￿mended P￿tice for accounting and reportirffJ by charits'es applicable to charities prepanng their ￿0￿nts in &cordance wlh the Financial Reporting Standard ap ￿lcable in the UK and RepU￿1C of Ireland IFRS 1021. I have no corKems and have come aCr(￿S no other matters in Connectic￿ the examination to wh￿h attention should be drawn in this report in order lo enable a proper understanding of the finartial statements to be re8c￿d. &Qdd Elaine Oddie OBE MA FCA FCCA NSO Asscciates LLP Chartered Certffied AcC￿ntants 75 Springfield Road Chelmsford CM2 Date: 08.12.2023 kT•] A C l A J