ARTS ALIVE IN SHROPSHIRE AND HEREFORDSHIRE
STATEMENT OF FINANCIAL ACTIVITIES
31 March 2021
Arts Alive in Shropshire and Herefordshire Statement of Financial Activities to March 31[st] 2021
Reference and Administration Details
Arts Alive is a registered charity, number 1182373.
The principal address is Office 007, Enterprise House, Station Street, Bishops Castle, Shropshire SY9 5AQ
Trustees of Arts Alive as at 1 April 2020 were:
Paul Graham Helen Powers Kim Smith Stephanie Jayne Hinton Hannah Prior Ben Mowbray
The following trustees were appointed in August 2020:
Michael James Connolly, Rachel Ann Rees, Judith Ann Trustman, and Louisa Harriet Cresswell Mayor. Helen Powers resigned.
Arts Alive’s bank is: CAF BANK Ltd, 25 Kings Hill Avenue, West Malling, Kent ME19.
The independent examiner of the accounts is Philip Green, FCA AIMS - Accountants for Business
Structure, Governance and Management
Arts Alive has existed as an unincorporated trust since 1999. On 7[th] March 2019, Arts Alive became a Charitable Incorporated Organisation and all assets from the old Charity were transferred to the new one on October 1[st] 2019.
Arts Alive is governed by its constitution adopted on 7[th] March 2019.
Trustees are elected for a three-year term on the expiry of which they may stand for re-election.
Objectives
The objectives of Arts Alive, as set out in the constitution, may be summarised as fostering and developing artistic taste, knowledge, and appreciation of the arts in Shropshire & Herefordshire and the surrounding areas.
Primarily, these objectives are achieved through the promotion, via some 200 individual promoters based in village halls, little theatres, libraries and other appropriate venues in the area covered, of a wide range of public arts events, including theatre, dance, music and films, plus musical and live screenings of drama, opera and ballet. The promotion of films is badged as Flicks in the Sticks (“Flicks”). The matching of live shows to promoters commences with an annual showcase event (usually in March) at which excerpts from a number of shows, that will be included in the “menu” of companies from which promoters are able to choose, are performed. The local promoters of films have a free choice of what showings they wish to put on, but are guided by a menu provided by Flicks.
In planning activities for the year, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on fee charging. For the most part admission prices are set by the individual promoters but Arts Alive issues strong recommendations on the level at which they should be set.
2
Arts Alive in Shropshire and Herefordshire Statement of Financial Activities to March 31[st] 2021
Incoming resources from generated funds: Voluntary income: Grants Donations Investment income from charitable activities: Income from live and flicks events Total incoming resources Resources expended Costs of generating funds Fundraising costs of grants and donations Charitable activities Operation of live and flicks events Governance costs Total resources expended Net incoming resources Total funds brought forward Transfers to reserve funds Funds Carried Forward |
31.03.2021 Note Restricted £ 2 262,065 3,925 3 1,514 ------------- 267,503 7,449 ------------- 274,952 ------------- 4 0 4 203,375 4 3,609 ------------- 206,984 ------------- 67,968 760 (68,572) ------------- 157 ======= |
31.03.2020 Restricted £ 110,234 865 51 ------------- 111,150 79,370 ------------- 190,520 ------------- 4,750 190,177 548 ------------- 195,475 ------------- (4,955) 5,715 0 ------------- 760 ======= |
|---|---|---|
3
Arts Alive in Shropshire and Herefordshire Statement of Financial Activities to March 31[st] 2021
Balance Sheet
| Fixed assets Fixtures and fittings Flicks Equipment Current assets Debtors Cash at Bank and in hand Creditors: Amounts falling due within one year Current assets less current liabilities Total assets less current liabilities Restricted funds Total funds |
Notes 5 5 6 7 9 8 |
31.03.2021 31.03.2020 £ £ £ £ 996 365 13,683 15,920 --------- --------- 14,678 16,285 1,542 23,783 161,288 100,025 --------- --------- 162,830 123,808 177,352 139,332 --------- --------- (14,522) (15,524) --------- --------- 157 760 ===== ===== 157 760 ---------- ---------- 157 760 ====== ====== |
|---|---|---|
P Graham
Date: 29/12/2021
For and on behalf of the Board of the Trustees
4
Arts Alive in Shropshire and Herefordshire Statement of Financial Activities to March 31[st] 2021
NOTES TO THE FINANCIAL STATEMENTS
1 Accounting policies
The following accounting policies have been used consistently in dealing with items which are considered material in relation to the charity's financial statements.
Basis of accounting
The financial statements have been prepared in accordance with applicable accounting standards and follow recommendations in Statement of Recommended Practice: Accounting by Charities.
Voluntary income and fundraising expenditure
Voluntary income represents amounts received and recorded at events and projects during the year. Except in the case of charity shops and fundraising events such as fetes and galas,
no costs of fundraising have been netted against voluntary income.
Fundraising expenditure represents the direct costs of fundraising and includes the salaries and other direct costs of fundraising staff. Publicity costs directly related to fundraising are included in the fundraising costs.
Fees, contributions and grants
These comprise amounts receivable during the year.
Investment income
This comprises interest received in the year.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings and Flicks equipment - 25% on reducing balance.
Taxation
No provision has been made for corporation tax or deferred tax as the charitable company is a registered charity and is therefore exempt. Reserves
Reserve Funds are monies that has been set aside to cover unforeseen events such as equipment failures or renewals (Equipment Reserve), the major loss of funds (Stability Reserves) and a future fund to aid with broadening our income sources (Catalyst Reserves). A full reserves policy is available on request.
5
Arts Alive in Shropshire and Herefordshire Statement of Financial Activities to March 31[st] 2021
2 Grants
| 2 | Grants | |||||
|---|---|---|---|---|---|---|
| 31.03.2021 | 31.03.2020 | |||||
| Restricted | Restricted | |||||
| Funds | Funds | |||||
| £ | £ | |||||
| Local government grants | 10,934 | 0 | ||||
| Other grants | 251,131 | 110,234 | ||||
| ---------- | ---------- | |||||
| 262,065 | 110,234 | |||||
| ====== | ====== | |||||
| 3 | Investment income | |||||
| 31.03.2021 | 31.03.2020 | |||||
| Restricted | Restricted | |||||
| Funds | Funds | |||||
| £ | £ | |||||
| Interest received | 1,514 | 51 | ||||
| ===== | ===== | |||||
| 4 | Analysis of charitable expenditure | |||||
| Fundraising | Charitable | Governance | Total | Total | ||
| Costs | Activities | Costs | 31.03.2021 | 31.03.2020 | ||
| Artists fees | 39,724 | 39,724 | 85,511 | |||
| Salaries | 87,549 | 5,000 | 92,549 | 55,528 | ||
| Overheads | 3,656 | 2,296 | 5,952 | 7,220 | ||
| Project costs | 60,382 | 60,382 | 39,548 | |||
| Other expenses | 52,970 | 52,970 | 12,955 | |||
| ---------- | ----------- | ---------- | ----------- | ---------- | ||
| 0 | 244,281 | 7,296 | 251,577 | 200,762 | ||
| ===== | ====== | ===== | ====== | ===== |
6
Arts Alive in Shropshire and Herefordshire Statement of Financial Activities to March 31[st] 2021
| 5 | Tangible fixed assets | ||||
|---|---|---|---|---|---|
| Fixtures | Flicks | ||||
| & fittings | Equipment | Total | |||
| £ | £ | ||||
| Cost | |||||
| At 31 March 2020 | 17,055 | 138,253 | 155,308 | ||
| Additions | 861 | 921 | 1,782 | ||
| Disposals | 0 | ||||
| --------- | --------- | --------- | |||
| At 31 March 2021 | 17,916 | 139,173 | 157,089 | ||
| --------- | --------- | --------- | |||
| Depreciation | |||||
| At 31 March 2020 | 16,691 | 122,333 | 139,023 | ||
| Charge for year | 230 | 3,158 | 3,388 | ||
| Eliminated on Disposals | 0 | ||||
| --------- | --------- | --------- | |||
| At 31 March 2021 | 16,921 | 125,491 | 142,411 | ||
| --------- | --------- | --------- | |||
| Net Book Value At 31 March 2021 | 996 | 13,683 | 14,678 | ||
| ==== | ===== | ===== | |||
| 6 | Debtors | ||||
| 31.03.2021 | 31.03.2020 | ||||
| £ | £ | ||||
| Trade debtors | 1,542 | 23,783 | |||
| Other debtors | 0 | ||||
| --------- | --------- | ||||
| 1,542 | 23,783 | ||||
| ===== | ===== | ||||
7 |
Creditors: amounts falling due within | one year | |||
| 31.03.2021 | 31.03.2020 | ||||
| £ | £ | ||||
| Trade creditors | 5,145 | 8,611 | |||
| Other creditors | (2,982) | 6,099 | |||
| Live project development fund | 3,000 | 0 | |||
| Film Rights Holding | 5,351 | 5,480 | |||
| Stability Reserve | 55,996 | 48,662 | |||
| Contingency Fund | 5,000 | 5,000 | |||
| Catalyst Reserves | 24,906 | 24,906 | |||
| Accruals | 0 | 0 | |||
| Deferred Income | 67,093 | 26,732 | |||
| Project Reserve Fund | 13,842 | 13,842 | |||
| --------- | --------- | ||||
| 177,352 | 139,332 | ||||
| ===== | ===== |
7
Arts Alive in Shropshire and Herefordshire Statement of Financial Activities to March 31[st] 2021
8 Analysis net assets by fund
| Analysis net assets by fund | ||||
|---|---|---|---|---|
| 31.03.2021 | 31.03.2020 | |||
| Restricted | Total | Restricted | Total | |
| Fixed assets | 14,678 | 14,678 | 16,284 | 16,284 |
| Current assets | 162,830 | 162,830 | 123,808 | 123,808 |
| Current liabilities | (177,351) | (177,351) | (139,332) | (139,332) |
| ---------- | ---------- | ---------- | ---------- | |
| 157 | 157 | 760 | 760 | |
| ====== | ====== | ====== | ====== | |
| Reserves to fund future depreciation | 14,678 | 14,678 | 16,284 | 16,284 |
| Other reserves | (14,521) | (14,521) | (15,524) | (15,524) |
| ---------- | ---------- | ---------- | ---------- | |
| 157 | 157 | 760 | 760 | |
| ====== | ====== | ====== | ====== |
9 Trustees remuneration and expenses
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any persons known to be connected to any of them.
No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year.
10 Related party transactions
There were no related party transactions during the year.
8