2021-07-31-accounts - Leeds Community Arts Network

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Leeds Community Arts Network

Annual Report and Financial Statements For the Year Ended 31[st] July 2021 Charity No: 1183694

Leeds Community Arts Network

CONTENTS

Page
Legal and Administrative Information 2
Report of the Trustees 3
Report of the Independent Examiner 5
Statement of Financial Activities 6
Balance Sheet 7
Notes forming part of Financial Statements 8

Leeds Community Arts Network

Legal and administrative information

Trustees: Stephen Fryatt Gillian Myers Stephen Limb Matthew Stirk Anita Adams Kenneth Taylor James Sidgwick Diane McHale Fannon Ian Goodison Treasurer: Gillian Myers Secretary: Kenneth Taylor Chair: Matthew Stirk Charity Office: Carriageworks Theatre 3 Millenium Square Leeds LS2 3AD

Charity Number: 1183694

Independent Examiner: Robert Smith FCA Smith Turner Chartered Accountants Unit 7, Courtyard 31 Pontefract Road Normanton West Yorkshire WF6 1JU

Bankers:

National Westminster Bank Plc Leeds, City Office 8 Park Row Leeds LS1 5HD

Leeds Community Arts Network

Report of the trustees for the year ended 31[st] July 2021

The trustees present their report along with the financial statements of the charity for the year ended 31[st] July 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s trust deed and applicable law.

Trustees

The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.

Constitution, Objects and Policies

The Trust is constituted by trust deed dated 3[rd] June 2019, and is a registered charity number 1183694. The objects are the advancement of the arts such as theatre, opera, musical theatre, dance and creative writing for the public benefit in Leeds by:

coordinating the work of local community arts providers
providing practical assistance to the delivery of community arts activity
provision of affordable access to the arts
provision of workshops and participating activities

The charity is organised so that the trustees meet regularly to manage its affairs. To assist the trustees they have appointed a treasurer and secretary who manage the day to day administration of the charity.

Development, Activities, Achievements and Financial Review

When planning the activities for the year the trustees have considered the Commission’s guidance on public benefit. The trustees consider that the performance of the charity continues to be satisfactory.

Reserves Policy

The present level of funding and unrestricted funds is adequate to support the continuation of the charities activities in the long term. The reserves policy and its adequacy are reviewed annually.

Risk Management

The trustees actively review the major risk, which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.

Leeds Community Arts Network

Report of the trustees for the year ended 31[st] July 2021

Trustees’ responsibility for the accounts

Charity law requires the trustees to prepare statements of account for each financial year, which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently.
make judgments and estimates that are reasonable and prudent.
prepare the financial statements in accordance with the methods and principles set out in the Statement of Recommended Practice Accounting and Reporting by Charities and to state whether or not the accounts have been prepared in accordance with that statement and applicable accounting standards.
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records which are sufficient to show and explain the charity’s transactions and to disclose with reasonable accuracy at any time the financial position of the Charity, and to enable them to ensure that any statements of account comply with the requirements of the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the Trustees on and signed on their behalf.

Gillian Myers Trustee

Leeds Community Arts Network

Independent Examiner’s Report to the Trustees of Leeds Community Arts Network

I report on the accounts of the Charity for the year ended 31[st] July 2021 which are set out on pages 5 to 8.

Respective responsibilities of trustees and examiner

The charity trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners’ statement

In the course of my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe, that, in any material respect, the requirements:
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Robert Smith FCA, Smith Turner Chartered Accountants, Unit 7, Courtyard 31, Pontefract Road, Normanton, WF6 1JU. Dated 13[th] December 2021

Leeds Community Arts Network

Statement of Financial Activities for the year ended 31[st] July 2021

Incoming Resources: Ticket income Deposit interest Grant income Room hire Croyden House Skills workshop Subscriptions Awards evening Workshop Miscellaneous income Fundraising Events Total Incoming Resources Resources Expended: Charitable expenditure Society distributions Grants paid out Guild Evening Events Miscellaneous expenses Awards evening Rent & Utilities – Croyden House Room Hire Expenditure Skills workshop Governance Costs Examiner’s remuneration Insurance Administrative expenses Net incoming/(outgoing) resources for the year Reconciliation of Funds Total Funds Brought Forward Total Funds Carried Forward	Unrestricted Fund £ - 1 - - - - - 269 - 100 - 370 - 2,164 270 - 150 - 3,860 1,017 - 7,461 250 436 - 686 (7,777) 42,217 34,440	Restricted Fund £ - - 3,000 - - - - - - - - 3,000 - 4,264 - - - - - - 4,264 - - - - (1,264) 1,264 -	2021 Total £ - 1 3,000 - - - - 269 - 100 - 3,370 - 6,428 270 - 150 - 3,860 1,017 - 11,725 250 436 - 686 (9,041) 43,481 34,440	2020 Total £ 71,829 23 14,000 10,608 4,155 1,593 1,574 1,237 250 472 -
				105,741 68,124 3,094 461 - 462 1,237 3,901 12,323 1,843
				91,445
				250 436 43
				729
				13,567 29,914
				43,481

The notes on page 7 form part of these financial statements

Leeds Community Arts Network

Balance Sheet 31[st] July 2021

Notes Current Assets: Cash at bank Creditors: Amounts falling due within one year 3 Net Current Assets/(Liabilities) Total Assets Less Current Liabilities: Funds: Unrestricted funds Restricted funds Total funds	Unrestricted Restricted Fund Fund £ £ 34,690 - 250 - 34,440 - 34,440 -	2021 Total Fund £ 34,690 250 34,440 34,440 34,440 - 34,440	2020 Total Fund £ 43,731
			250
			43,481
			43,481
			42,217 1,264 43,481

Approved by the Trustees on and signed on their behalf by:

Ms G Myers Trustee

The notes on page 7 form part of these financial statements

Leeds Community Arts Network

Notes to the Financial Statements for the year ended 31[st] July 2020

1 Accounting Policies

In preparing the accounts the following accounting policies have been complied with.

Basis of preparation of accounts

The financial statements have been prepared under the historical cost convention as modified by the revaluation of investments, in accordance with the provisions of the Charity (Accounts and Reports) Regulations 2008, the Statement of Recommended Practice Accounting and Reporting by Charities (revised 2005) and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Income

Income is accounted for on an accruals basis as far as it is prudent to do so.

Gifts in kind

The Charity receives the benefit of work carried out by volunteers.

Taxation

As a registered Charity it is generally exempt from Income Tax and Capital Gains Tax but not VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

Governance costs

Expenditure on management and administration of the charity comprises costs of running the charity itself and this includes secretary’s honorarium and examiner’s fees.

2 Staff costs

No remuneration was paid to the trustees in the current year and no Trustees’ expenses were reimbursed in the year.

3 Creditors: Amounts Falling Due Within One Year Accrued expenses	31.07.21 £ 250