## **REPORT OF THE BOARD** ## **FOR THE YEAR ENDED 31 MARCH 2022** The Board presents their report with the financial statements of the chamber for the year ended 3l March 2022 The board has adopted the general provisions of UK FRS 102. Board members since I April 2021 to 31 March 2022 ## **Name and address resigned** ## **Date appointed or** ## **Chair:** Dr Tracie Trimmer-Platman 3 Leabank Square London E9 5LP Appointed: 11/11/2021 ## **Trustees:** Dr Alan Meades 21 Grosvenor Road Broadstairs CT10 2BT Michele Buchanan Flat 101, 57 Wadeson Street London E2 9DP Emma Meades FCCA 6 Canterbury Close Broadstairs CTIO 2SF Tina Hoare Appointed:11/11/2021 16 Chantry Park , Sarre, Sarre Birchington CT7 0LG Appointed: 31/03/2022 Appointed: 31/03/2022 Appointed: 04/12/2019 Resigned:13/10/2022 Fiona Kingsman Appointed: 19/07/2019 4 Guildford Ave Westgate-on-Sea CT8 8NB Resigned: 01/12/2022 Neil John Griffiths Appointed: 19/07/2019 43 St Peters Rd Margate CT9 lTJ Resigned:22/01/2022 Naami Padi Appointed: 19/07/2019 Resigned:13/10/2022 10 Glebe Rd Margate CT9 5PR ## **BANKER** Co-operative Bank ## **OBJECTIVES AND ACTIVITIES** Arts Education Exchange is a youth organisation based in Margate, East Kent. Our focus is to harness the potential of young people; to inspire social engagement through creative processes and to provide pathways to continued education, employment, or work-based training. ## **THE PUBLIC BENEFIT** The trustees confirm that they have taken due regard to the public benefit guidance published by the Charity Commission when reviewing the Trust's aims and objectives and in planning future activities. We act as a resource for young people up to the age of 30 years old, providing advice and assistance and organising educational programmes; particularly in the creative arts and other related disciplines and other activities as a means of': 1. Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals 2. Advancing education 3. Relieving unemployment ## **FINANCIAL REVIEW** ## Reserves policy The company endeavours to keep two to three months' running costs in reserve to allow for late receipt of income. ## Reserves As at 31 March 2022 the reserves stand at **£32,764** and will enable Trustees to implement their objectives over the next 12 months. ## Income Total income for the year ended 31 March 2022 was **£204,637** . Net incoming resources for the year were **£96,149.** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## Governing document The Group is controlled by a constitution, a copy of which can be obtained from the Board Secretary. ## Recruitment and appointment of new Board As and when a new board member is required, either due to a vacancy or to fulfil a new specific need, individuals with the relevant skills are identified and approached, If a board member is deemed appropriate and willing to make the required commitment, then they are proposed to the Board by the Chair. ## Induction and training of new Board New board members are fully briefed on the Group's activities and procedures. Each board member is given an induction which sets out their responsibilities as a board member. Organisational structure: Decisions are taken at meetings of the Trustees. ## Risk Management The trustees recognise their duty to identify and mitigate the risks to which the charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. On behalf of the Trustees ……………………………………………………… Dr Tracie Trimmer-Platman DATE: 26[th] April 2023 ## **Arts Education Exchange AEE** ## **BALANCE SHEET as at 31st March 2022** |Note
£
**£**
£
**FIXED ASSETS**
Tangible assets
8
3,324
**Current Assets:**
Investment
Debtors
5
2,000
2,000
Cash at Bank
6
219,730
109,127
221,730
111,127
**Creditors:**
Amounts falling due within
one year
7
20,417
8,077
Net current assets and total net assets
201,313
**NET ASSETS**
204,637
**Funds represented by the assets:**
Unrestricted funds
94,869
Restricted funds
10
109,768
**Total funds**
204,637|£
5,438| |---|---| ||103,050| ||| ||108,488| ||25,351
83,137| ||108,488| Approved by the trustees on ………………. 2023 and signed on their behalf by:28th April Chairman Treasurer 6 ## Certificate of Completion ## **BS Signed EM.pdf** ID: c0fcdbc4-b55d-4b71-8d14-f888d7fb4d18 SIGN REQUEST ISSUED: REQUESTED BY: **Apr 28, 2023 Emma Meades** 08:07 AM UTC emma@meadesaccounting.com STATUS: **Completed** on 28 Apr, 2023, 08:28 AM UTC ## **Audit trail** Generated on Apr 28, 2023 28 Apr, 2023, 08:09 AM UTC **Emma Meades** has invited to sign the document emma@meadesaccounting.com **Verified** 28 Apr, 2023, 08:28 AM UTC **Tracie Trimmer** has signed the document tracietrimmer@hotmail.com **Verified** 90.218.51.83 **Generated with eSign from Smallpdf.com** Sign documents and request signatures electronically. ARTS EDUCATION EXCHANGE ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 March 2022 Charity number 1184494 s Education Exchan ANNUAL REPORT AND FINANCIAL STATEMENTS Fort ar ended ar h 2022 Particulars of Trustoes Report of Trustees Independent Examinerfs Report Statement of FinancSal Aclvities Bal¥nce Sheel Notes lo the Flnan¢ial Slalemenls 7 onwards ART5 EDUCATION EXCHANGE REPORT OF THE BOARO OF TRusfEES FOR THE YEAR ENDEO 31 MARCH 2022 The board of trustees presents their report with the financial statements of the tharity for the year ended 31 March 2022 The board has adopted the general provisions of UK FRS 102. Board members who served the Charity between l April 2021 and 31 March 2022 were- Date appolnted or resigned Chalr: Dr Tracie Trimmer-platman Appointed: 1211012021 Trustee5: DrAlan Meades Appointed.. 3110312022 Michele Buchanan Appointed: 3110312022 Emma Meade5 FCCA Appointed: 0411212019 Tina Hoare Appointed.. 1111ty2021 Resigned.'1311012022 Fiona Kingsman Appolnted. 1910712019 Resigned: OV1212022 Neil John Griffiths Appolnted.. 1910712019 Res18ned:2210112022 Naami Padi Appointed.. 1910712019 Re5i8ned:1311012022 ARTS EDUCATION EXCHANGE REPORTOFTHE BOARD OFTRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 contlnued BANKER Co-operative Bank OBJEcfivES AND Acriv￿lEs Arts Education Exchange is a youth organisation based in Margate. East Kent. Our focu5 is to harness the potential of young people,. to inspire social engagement throu8h creative proce5se5 and to provide pathways to continued education, employment, or work-based tralnin8. THE PUBLIC BENEFIT The trustees confirm that they have tsken due regard to the publlc benefit guidance published by the Charity Commission when reviewing the Trust's aims and objectives and in plannin8 future activities. We act as a resource for young people up to the age of 30 years old, providing advice and assistance and or8anising educational programmes.. particularty In the creative arts and other related disciplines and other artivitles as a means of: l. Advancing in life and helping young people by developing their skills, capacities and capabilrties to enable them to participate in society as independent, mature and responsible individuals. 2. Advancing education 3. Relieving unemployment FINANCIAL REVIEW Reserves policy The Charity endeavours to keep two to three months, running costs In reseNe to allow for late receipt of income. Reserves As at 31 March 2022 the reserves stand at £204,637 and will enable Trustees to implement their objettives over the next 12 months. Income Total income for the year ended 31 March 2022 was £352,546. Net incoming resources forthe year were £96.199. ARTS EDUCATION EXCHANGE REPORTOFTHE BOARDOFTRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 continued STrUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT The Charity is constituted as a Foundation Charrtable Incorporated Organisation, charity number 1184494 and is controlled by a constitution, a copy of which can be obtained from the Board Secretary. TrusrEES Recrijitment and appointment of new Board Members As and when a new board member Itrusteel is required, either due to a vacancy orto fulfil a new specific need, individuals with the relevant skills are identrfied and approached. If a board member is deemed appropriate and wllling to make the required commitment, then they are proposed to the ljoard by the Chair. Induction and training of new Board Members New board members are fully briefed on the Charit￿$ arthjities and procedures. Each board member Is given an induction which sets Qut their responsibilities as a board member. Organisational structure- Decisions are taken at meetings of the board of trustees. Risk Management The trustees recognise their duty to identify and mitiBate the risks to which the charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. On behalf of the Trustees Dr Tracie Trimmer-Platman 26" April 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTELS OF ART EDUCATION EXCHANGE FOR THE YEAR ENDED 31 MARCH 2022 I report on the accounts of Art FAucation Exchange for the year ended 31 Ma￿h 2022 which comprise the statement of financial activilies, balance sheet and related notes set out on page8 5 to 10. Respective responsibilities ofmembers and rxamineT The ttvstees are responsible for the preparation of the accounts. The trustees Consider that an audit is not required for this year under section 144{2) of the Charities Act 2011 (the 2011 Act) and Ihat an independent examination is needed. The charity's gross income exe¢eded £250.000 and I am qualified to undertake the exa]nination by being a qualified member of the Institute of Chartered Accountants in England and Wales. It is my reswinsibilily 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 Commissioner under Section 145(5)(b) of the 2011 Act. and to state whether particular matters have come to my attention. Basis ofindependenl ￿o￿lner'S report My examination was carried out in a￿OrdanCe with the Genernl Directions given by the Charity Commissioner. An examination includes a review of th¢ accounting records kept by the charity and a Comparison of the accounts pres¢nted with those records. It also includes consid¢rntion of any unusual it￿nS or disclosures in the ac¢ounls, and the seeking of explanations from you as members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequcntly, no opinion is given as to whether the accounts prescnt a 'trne and fair view, and the report is limited lo those matters set out in the stAtetllent below. Independeni examiner'3 slalemenl In connection with my cxamillation, no material matters have come to my attention which give me cause to believe that in any material respect: the accounting records were not kepl in accordance with section 130 of the 2011 A¢t' or the accounts did not accord with the accounting records" or the accounts did not comply with the applicable requirements concerning the forni and content of the accounts sct out in the Clwities (Accounts and Reports) Regulations 2008 other than any requirement to show a 'true and fair, view, which is not a mattcr considered as part of an independent examination. I have come across no other matters in COnn￿lI0n wilh the examination to which attention should be drawn in order to enable a proper understanding of the ￿CoUnt5 to be reached. 61 London Road Maidstone Kcnt ME16 8TX J A GTiggs FCA LEVICKS Chartered Accountants & Business Advisers 28 April 2023 Art Education Exchan AEE STATEMENT NANCIAL ACTIVITY For the ear ded 31st March 2022 2022 unrestriet￿Re¥trIcl•d Total Unrestricted RestrKt Funds Funds Funds Funds Funds 2021 Total Funts INCOME FROM: Donation5 and legacies 111.761 238,48S 350,246 2.300 2.300 6,640 159,444 166,084 16,916 16.916 TOTAL INCOME 114,061 238 485 352 546 23,556 159,444 183.000 expENDITURE ON.. Charitablg activrties Other 44,493 210,204 254.697 1,650 1.650 2,4S4 135,724 138.178 1.176 1,176 TOTAL EXPENDITURE 44 493 211854 256,347 2 454 136,900 139,354 NET INCOMEIEXPENDITURE 69,568 26.631 96.199 21.102 22,544 43.646 Profitlllo8•} 4)n dl¥poBal 150) NET MOVEMENT IN FUNDS BEFORE TRANSFERS 69.518 21631 9Q149 21,102 22.544 43,646 TRANSFERS 11,2e61 1,266 BALINCES BROUGHT FORWARD As AT I APRIL 2021 25,351 83.137 10B.488 5.515 59,327 64,842 BALANCES CARRIED FORWARD AS AT 31 MAJICH 2022 83 137 108,488 Arts Education Exchan e AEE BALANCE HEET as at 31st March 2022 Note FIXED ASSETS Tangible assets 3,324 5,438 Current Assgt$: Investmonl Debtors Cash at Bank 2.000 219.730 221.730 109,127 111.127 Cr•dttors: Amounts falling due wilhln one year 20,417 8,077 Nel current assets anil lolal net assets 201,313 103 050 NET ASSETS 204,637 Funds ropr•$ont•d by the as8e¢8: Unrestricted funds Restricted funds Totsl funds 94,869 109.768 204 637 25.351 83,137 108.488 10 Approved by th& truste85 on 28 April 2023 and signed on thelr behalf by:_ Chairman Tr8cie Trimmer-Pl8trnan Treasurer Emma Meades Arts Edueatl¢n Ex¢h#n AEE NOTES FORMING PART OF THE FINANCIAL STATEMENTS or th• oar end•d 31 Mar¢h 202 A¢￿￿nI￿r￿ Polieio*: al Accountin Pl￿￿￿0$.. financk81 statemarts have been prepared in ac4)rd&r￿ wthAccounbw 8rx1 Rew#)g bYchan￿&S.. ststemenlof Recomff￿nd•y Practlc8 applicabla to thariiigs prep8riry their acwunts In accordarte vllh Fina￿4￿1 Rèportyrq Stand8rd applicabk in the UK 8nd Rèpublic ¢1 IrdorKI IFRS 1021 8TrJ Charthas Acl 2011. tryst¢o$ {#￿Tthal￿￿O are no mgterial wc*rt8thl￿B 8botstl￿ ChorW$ etsltyto cnn11n￿ as a g￿n9 cOr￿rn. Thb ChBrlty * a Publc Benefit EW as de1fftr￿d by FRS102. crnwL8 basL8 Al incom• Is accounted forwhen Charlty bewmes anthd lo re￿pt. Eypenses are accounted for %then th$ Ilabllity Is Incurr9d ortheTe is an oblbJ8ton lorpaYm￿l 8nd L% &(thur*Éd for gro65 ¢lVAT. No incom8 is nette¢J off 8981nst8xptr￿IUr¥. dl Flxed ass6ts Purchase8 of llxbjres 8quIF¥nent ar8 gentralyexperoed to the irKJ)m8 8ThJ exp8ndibJre 8cwthI or cawta*5ed atthe discretion of the trusloes. D8preoatlon is wovN1od w the (￿t residual value overthe anwatsd Lwlul 8¢ontJni¢ Irfa oltho asset. sic and u)rnpulerequipm•nl. 25% Stra￿h1 Ihe Unr8slricted funds represent funds ofthe tharfty not subjectto any spÈiaal reskndon reggrdkn9115 Use aTrJ whlch are ayailable forlhe g￿Tal Purpos￿ of tho ¢harity. ReBtricted fvnds reF¥88eTrt mon￿9 som? rÈ8tridkM dthled bythe (l)noras to Its u88. Grnbtt8and donititin• 2021 In¢om• Exp•nt•s Income Ewen$8S Nat Grnnta Arts Cwndl Acl¥Aty Fundlng Cotyer Fergusson Cotyer Forgusson Hard$hlp N3￿n81 Lottery KCC Early Help Garfield Waston AEP Youth Mu8iC 16.391 3.958 45,000 32,882 J86 107,536 150.341 B.512 4254 20.000 377 109.080 34,923 3&951 19,656 12A33 12.118 1,709 142.8051 4250 19.623 74.457 1929S 1,418 2S.C*)O 7,736 111,080 14,210 10,15B 18,7401 13.037 11,￿3 6,027 1,709 97,726 13,354 9.952 4.258 Donatlon¥ Don8Ions Gift aMI 2.881 14,6641 11.4791 534 8,119 Other TDC 14251 500 16.212 170 3.264 12.948 135 35 352 $46 256 43 Arts Education Exchan • AEE NOTES FORMING PART OF THE FINANCIAL STATEMENTS For the ar ended 31 March 2022 DonatSons: 2022 2021 Thanet Lottwy Sundry Tes Resort Studk) Artcry Corf frggdman Kent olice 195 277 1,000 900 450 2.681 Charllable acdvltle8 2022 2021 Grants Renl, Rates. Heat. LyhL Power Tebphona R￿1r$ aryj mainténance Equipment ex￿n￿ed Insurance Printing, Statv)nery arvj off￿e supF4ies Sofhwdr8 Stsffiw cosls Works?￿p costs SurKIry Professicffi81 fee5 DeprecfjatK)n 9,147 15,384 795 2.159 4.336 295 910 1.703 103,S08 753 2.202 14,8271 1.813 14954 1,186 10.640 1,001 310 1,377 198245 8A52 IndepeThYent examlnerfees Aecountancy feas B34 816 360 816 255 531 Arts Education Ex AEE NOTES FORMING PART OF THE FINANCIAL STATEMENTS For the ar ended 31 March 2022 Debtors and wopaJTnor 2022 2021 Glft Ajd recoverable k acwunt INT.NLXw85t Deposit paid in advance 2.000 2,OQQ 2,(K)O 2,￿0 C*¥h at Bonk: 2022 2021 Cwp Bank 219.730 219.730 109,127 109,127 A¢¢1￿15 and d•fewr•d Incomo 2022 2021 Deferred income Cotyer Ferguson Hardship grants 774 13.8 1.709 4,258 Cr*Jitors Ind8pendenl examSTraUoTr PAYE and Nl Paydl fee5 360 1,750 4371 816 20.417 8,077 Tonglbl? fix•d a•s•ts Mu•k •nd comp￿r•4￿1PThnl Cost Opening balanc8 1 ￿￿12027 DIskY)5al C105ing baL3nco 31 March 2022 7.251 6.650 Accumul•tsd d¢pr•¢i•ti¢ Openlng balanc8 1 Aprtl 2021 DepreC48t￿n on di5wsal Provlsbn for ts yèar c1￿￿j balanea 31 Marth 2022 1,813 1,6e2 3?24 Ngt book values Opening balance 1 April 2021 clo￿n9 balan¢4 31 Marth 2022 TruBtW8' r•munoratk¥n and •xwnsg$ Th¢ tru$tees dld not rece￿8 any reMun￿on orexpensesduring thisyeor Lythe lagt. Edu¢&tlon Ex¢han • AEE NOTES FORMING PART OF THE FINANCIAL STATEMENTS ended 31 10 Rejfrlctedfunds CO￿$r Natkjwl G8fvKI Youih To Yeai ended 31 ljarch ￿21 Coun￿1 FergU8￿ Hardship E8rty Hdp Loiw Wew Uul¢ T¢gMAed IneAxne 1,418 25.IKX) 7.736 14210 111.080 1$9.444 Expendtur¢ 10.158 13.037 9.￿2 97.726 136.wo l incom {*xpendliur•l 18.7401 1.709 4258 13.354 21544 Tr4n5fers 1,266 Brwyh1fg￿rd 01 Apr¥ 2020 7.474 2(t.257 31,596 59,327 32.2ZO 4.258 44,950 83.127 31 March 2021 Yearended 31 March2022 t&391 4StNVI 1095 .512 107,5 98.951 238,4B5 EXP￿￿11vr* 19N 31882 4254 150,341 19.656 2*1￿54 N•t Incomel ItAp•ndhur•l 11433 11118 1.7Q9 ￿2￿ 142MQ51 19,623 1929$ ZWI 3,418 8.516 2,145 19,623 31 M•i¢h 2022 Gwanw d•b The trusw¢anfirm. In acPthanCe￿th ChaISts￿e Inc(¥p)rated 0rgan*atiornslGene￿} RegLlations2012. that8t the eThl t*e CK)tthd noihaveany￿￿IStsTr91n9￿ar￿ntQes tolhird partm, rnranYde￿ts secLYed on the oftt￿ CIO. to