2022-08-31-accounts

COMPANY REGISTRATION NUMBER: CE019011 CHARITY REGISTRATION NUMBER: 1185544

THE SUNNINGWELL SCHOOL OF ART UNAUDITED FINANCIAL STATEMENTS 31 AUGUST 2022

VINEYARD ACCOUNTANTS

Chartered Certified Accountants 5 The Chambers Vineyard Abingdon-on-Thames

THE SUNNINGWELL SCHOOL OF ART

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	6
Statement of financial activities (including income and
expenditure account)	7
Statement of financial position	8
Notes to the financial statements	9
The following pages do not form part of the financial statements
Detailed statement of financial activities	18

THE SUNNINGWELL SCHOOL OF ART

TRUSTEES' ANNUAL REPORT

YEAR ENDED 31 AUGUST 2022

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2022.

Chair's report

This report represents the report of The Sunningwell School of Art, a Charitable Incorporated Organisation, being registered with the Charity Commission as a CIO number 1185544 for the year 1 September 2021 to 31 August 2022.

Objectives and activities

The charitable objectives of the charity are to advance the education of the public in their appreciation and knowledge of the arts in all forms and in particular to continuing provision of a school of art.

Sunningwell School of Art was established in 1973 by a group of local artists to offer people of all ages and abilities the opportunity to encourage and develop an interest in, and an appreciation of, fine art through a variety of courses, visit lectures and exhibitions. The charity incorporated as a Charitable Incorporated Organisation on 30 September 2019 after previously operating as a Trust. The charity became active on 1 September 2020.

Public benefit

Public benefit of the charity has always been to offer the broadest and highest quality art education to all without any previous qualifications from people enrolling as students. The trustees review the aims, objectives and activities of the charity each year to make sure that all students have equal chances and that grants are offered to those who want to study, but are limited by financial circumstances.

In setting the objectives and planning activities, the trustees have given due regard to the Charity Commission's general guidance on public benefit and are satisfied that they have complied with the duty in Section 17(5) of the 2011 Charities Act to meet the requirement and uses this in their forward planning. The school also continues to offer 10% discount to residents in the Sunningwell Parish as part of our charitable objective to the local community.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

It has certainly been another eventful and challenging year at The Sunningwell School of Art. It has been a year of continued recovery following the easing of restrictions after the Global Pandemic. We have all been mindful that although the restrictions have been lifted, the need to keep everyone safe and healthy and student safety continues to be a priority.

We began to gradually increase the class capacity, following the previous year's Covid 19 restrictions on class size, and by the summer term most classes in the main studio and pottery had the potential to enroll pre-pandemic numbers of students. The student capacity in the upper studio continued to operate with a 16.5% capacity reduction during the summer term and classes continued to be taught in the village hall on three mornings per week. It has been decided that, to retain a quality workspace, some classes won't return to their previous capacity and more reasonable caps on numbers have been placed. We have reduced our use of the village hall from three days per week to two. This will remain in place as the classes on those mornings cannot fit into the school space. This expansion into the village hall is providing the hall with regular bookings, allowing us to offer more places to students, and is putting business back into our community.

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THE SUNNINGWELL SCHOOL OF ART

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2022

Achievements and performance (continued)

We observed over the year that most of our pre-pandemic students were keen to return on site and initial nervousness was overcome, only a small number of regular students have not returned.

The Board of Trustees has grown in confidence that comes from the continuity of service from each of its members. The role of the Trustees is to provide independent governance and support for the school to ensure prosperity, sustainability and growth going forward. Our quarterly meetings with the School Directors provide regular updates and opportunities to discuss any challenges as they arise. At other times we have an excellent and efficient system of communication through the Chair and Director which allows us to manage collaborative working.

The Board would like to acknowledge the relentless hard work completed by staff and to thank our local partners who make additional space available.

The school received a Winter Support Grant from the Vale of White Horse District Council. This support amounted to £6,660 and this was unrestricted. (2021 - local grants amounted to £18,097 and Job retention grants amounted to £18,490).

In addition, we also received grants and donations totalling £3,227 (2021 - £9,829) as below:-

We received £477 from The Doris Field Trust and £500 from the Lord Faringdon Trust to run a series of children's workshops and a workshop at Headway Rehabilitation Centre to celebrate International Sculpture Day.

We also received a grant of £2,000 from the Cecil Pilkington Trust (unrestricted) which had no specific purpose other than to be used for our charitable objectives and individual donations of £250 (unrestricted).

We also put on events in the year which helped generate income of £3,632 (2021 - £360).

The results of the year have produced a surplus of £2,935 (2021 deficit - £ 24,308) which is indicative that the school is returning to a pre-covid position.

Financial review

Reserves

The reserves at 31 August 2022 stood at £67,425 (2021 - £64,490), which is made up of unrestricted funds totalling £38,819 (2021 - £35,884) and restricted funds totalling £28,606 (2021 - £28,606).

Principle funding sources

The principle funding sources of the charity are generally that of tuition fees. We also received donations, investment income and government and local grants.

Risk management

The trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been established and will be updated at least annually. Where appropriate, systems and procedures have been established to mitigate the risks that the charity faces.

Structure, governance and management

The charity was incorporated as an Charitable Incorporated Organisation on 30 September 2019.

The charity is controlled by it's governing document, a deed of trust and constitutes a Charitable Incorporated Organisation.

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THE SUNNINGWELL SCHOOL OF ART

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2022

Structure, governance and management (continued)

Organisational structure

The Sunningwell School of Art has a committee of trustees who meet and are responsible for the strategic direction and policy of the Charity. At present the committee consists of members from a variety of professional backgrounds relevant to the work of the charity.

A scheme of delegation is in place and day to day responsibility for the provision of the services rests with the School's Director.

Method of appointment or election of Trustees

The management of the Charity is the responsibility of the trustees, who are elected under the terms of the Constitutional Deed.

New trustees are appointed by an interview with the current trustees and directors. They must be fully conversant with the charity and supportive of its aims.

There is no policy in respect of re-appointment of trustees under the terms of the Constitutional Deed, but should they fail to support the charity sufficiently or act improperly according to the standards of the charity, they would be removed by a vote of the trustees.

Policies adopted for the induction and training of Trustees

Trustees avail themselves of the regular information on the requirements and responsibilities of trustees through the Charity Commission report advice service provided.

New trustees are presented with documents produced by the Charity Commission together with agreeing to the Constitutional Deed of the Charity. They are also fully appraised with regard to the objectives and plans of the charity.

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THE SUNNINGWELL SCHOOL OF ART

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2022

Reference and administrative details

Registered charity name

The Sunningwell School of Art

Charity registration number 1185544

Company registration number CE019011

Principal office and registered The Sunningwell School of Art office Sunningwell Abingdon-on-Thames OX13 6RD

The trustees

A Franklin Ms D Bell (Resigned 20 November 2021) J Simms (Resigned 20 June 2022) Dr J Gordon Ms S Wiseman Mrs A Jewell (Appointed 19 November 2021)

Trustee appointments after the year end

B G Birdseye was appointed as a trustee on 7 October 2022

The Board would like to extend their thanks to Mr John Simms for his dedication, help and advice following many years trusteeship.

During the year, a further trustee was appointed, Ms Amanda Jewell, who joined Mr Alan Franklin and Ms Sarah Wiseman who were re-appointed from the previous board.

Our school directors are as follows:-

Art Director - Ms Allyson Austin

Administration Director - Mrs Vanessa Woodward

Independent examiner

Helen Gee FCCA 5 The Chambers Vineyard Abingdon-on-Thames

Plans for future periods

The school will work towards a consolidation of new classes by focusing on selling the vacant spaces across the school timetable. This will be achieved by focusing on a comprehensive marketing and communications strategy.

We will also be focusing on our new CRM, training, and software package to streamline existing processes.

In 2022-23, the school has secured and received a grant of £28,125 from The Oxfordshire Community Foundation for an integrated CRM system, new website and financial software to allow online enrolment, booking and payment. The project is in two phases and will begin in the academic year 2022-2023.

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THE SUNNINGWELL SCHOOL OF ART

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 AUGUST 2022

The trustees' annual report and the strategic report were approved on .............................. and signed on behalf of the board of trustees by:

Dr J Gordon Trustee

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THE SUNNINGWELL SCHOOL OF ART

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SUNNINGWELL SCHOOL OF ART

YEAR ENDED 31 AUGUST 2022

I report to the trustees on my examination of the financial statements of The Sunningwell School of Art ('the charity') for the year ended 31 August 2022.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Helen Gee FCCA Independent Examiner

5 The Chambers Vineyard Abingdon-on-Thames

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THE SUNNINGWELL SCHOOL OF ART

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 AUGUST 2022

			2022		2021
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	2,250	977	3,227	9,829
Charitable activities	5	298,771	–	298,771	188,123
Investment income	6	4	–	4	157
Other income	7	6,660	–	6,660	36,587
		─────────	────	─────────	─────────
Total income		307,685	977	308,662	234,696
		═════════	════	═════════	═════════
Expenditure
Expenditure on charitable activities	8,9	304,750	977	305,727	259,004
		─────────	────	─────────	─────────
Total expenditure		304,750	977	305,727	259,004
		═════════	════	═════════	═════════
		─────────	────	─────────	─────────
Net income/(expenditure) and net
movement in funds		2,935	–	2,935	(24,308)
		═════════	════	═════════	═════════
Reconciliation of funds
Total funds brought forward		35,884	28,606	64,490	88,798
		─────────	────────	─────────	─────────
Total funds carried forward		38,819	28,606	67,425	64,490
		═════════	════════	═════════	═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 16 form part of these financial statements.

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THE SUNNINGWELL SCHOOL OF ART

STATEMENT OF FINANCIAL POSITION

31 AUGUST 2022

		2022		2021
	Note	£	£	£
Fixed assets
Tangible fixed assets	15		30,410	32,426
Current assets
Cash at bank and in hand		112,315		104,590
Creditors: amounts falling due within one year	16	75,300		72,526
		─────────		─────────
Net current assets			37,015	32,064
			────────	────────
Total assets less current liabilities			67,425	64,490
			────────	────────
Net assets			67,425	64,490
			════════	════════
Funds of the charity
Restricted funds			28,606	28,606
Unrestricted funds			38,819	35,884
			────────	────────
Total charity funds	19		67,425 ════════	64,490 ════════

For the year ending 31 August 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

A Franklin Trustee

Dr J Gordon Trustee

The notes on pages 9 to 16 form part of these financial statements.

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THE SUNNINGWELL SCHOOL OF ART

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2022

1. General information

The charity is a public benefit entity and a registered charity in England and Wales. The address of the registered office is Sunningwell, Abingdon-on-Thames, OX13 6RD.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Creditors

Creditors are recognised where the charity has a present obligation as a result of a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligations can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Going concern

The trustees consider there to be no material uncertainties about the charity's ability to continue as a going concern.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the company.

(b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income tax

The Sunningwell School of Art is a registered charity and accordingly is exempt from taxation and its gains where they are applied for charitable purposes.

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THE SUNNINGWELL SCHOOL OF ART

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2022

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

• Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• Income from charitable activities relates to tuition fees and events and is accounted for based on the term the tuition will be taught. Tuition fees receivable are stated after deducting bursaries.

• Income from investment income is included when receivable and the amount can be measured reliably.

• Other income from grants is recognised when there is evidence of entitlement to the grant, receipt is probable and its amount can be measured reliably. The previous year also included Covid 19 support package income which was recognised on receipt.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property (land is not - 2% straight line amortised) School Equipment - 20% straight line

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THE SUNNINGWELL SCHOOL OF ART

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2022

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2022
		£	£	£
Donations
Donations and legacies		2,250	–	2,250
Grants
Local grants receivable		–	977	977
		───────	────	───────
		2,250	977	3,227
		═══════	════	═══════
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
Donations
Donations and legacies		3,829	–	3,829
Grants
Local grants receivable		2,000	4,000	6,000
		───────	───────	───────
		5,829	4,000	9,829
		═══════	═══════	═══════
Charitable activities
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Tuition fees	297,545	297,545	189,277	189,277
Bursaries from unrestricted fund	(2,406)	(2,406)	(1,514)	(1,514)
Events	3,632	3,632	360	360
	─────────	─────────	─────────	─────────
	298,771	298,771	188,123	188,123
	═════════	═════════	═════════	═════════

5. Charitable activities

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THE SUNNINGWELL SCHOOL OF ART

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2022

6. Investment income

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Interest receivable	4	4	157	157
		════	════	════	════
7.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Job retention grant income	–	–	18,490	18,490
	Local authority grant income	6,660	6,660	18,097	18,097
		───────	───────	────────	────────
		6,660 ═══════	6,660 ═══════	36,587 ════════	36,587 ════════

8. Expenditure on charitable activities by fund type

Expenditure on charitable activities	by fund type
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Tuition and school	276,584	977	277,561
Building and services	28,166	–	28,166
Support costs	–	–	–
	─────────	────	─────────
	304,750	977	305,727
	═════════	════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Tuition and school	232,982	1,000	233,982
Building and services	20,371	–	20,371
Support costs	4,651	–	4,651
	─────────	───────	─────────
	258,004	1,000	259,004
	═════════	═══════	═════════

Wages are now allocated as 100% to charitable activities previously 2% had been treated as support costs which was felt was no longer appropriate.

9. Expenditure on charitable activities by activity type

	Activities
	undertaken	Total funds	Total fund
	directly	2022	2021
	£	£	£
Tuition and school	277,561	277,561	238,633
Building and services	28,166	28,166	20,371
	─────────	─────────	─────────
	305,727 ═════════	305,727 ═════════	259,004 ═════════

10. Analysis of support costs

General office

Total	2022	Total 2021
	£	£
	–	4,651
	════	═══════

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THE SUNNINGWELL SCHOOL OF ART

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2022

11. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

	2022	2021
	£	£
Depreciation of tangible fixed assets	2,016	2,023
	═══════	═══════

12. Independent examination fees

	2022	2021
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	2,160 ═══════	1,560 ═══════

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2022	2021
	£	£
Wages and salaries	130,796	132,367
Social security costs	8,349	7,617
Employer contributions to pension plans	2,971	2,909
	─────────	─────────
	142,116 ═════════	142,893 ═════════

The average head count of employees during the year was 5 (2021: 6). The average	The average head count of employees during the year was 5 (2021: 6). The average	number of
full-time equivalent employees during the year is analysed as follows:
	2022	2021
	No.	No.
Number of staff	5	6
	════	════

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

14. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees in this year or previous period.

No trustee expenses have been incurred in this year or the previous period.

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THE SUNNINGWELL SCHOOL OF ART

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2022

15. Tangible fixed assets

Tangible fixed assets
	Freehold
	property	Equipment	Total
	£	£	£
Cost
At 1 September 2021 and 31 August 2022	25,718	8,731	34,449
	════════	═══════	════════
Depreciation
At 1 September 2021	276	1,747	2,023
Charge for the year	271	1,745	2,016
	────────	───────	────────
At 31 August 2022	547	3,492	4,039
	════════	═══════	════════
Carrying amount
At 31 August 2022	25,171	5,239	30,410
	════════	═══════	════════
At 31 August 2021	25,442	6,984	32,426
	════════	═══════	════════
Creditors: amounts falling due within one year
		2022	2021
		£	£
Trade creditors		355	137
Accruals and deferred income		72,417	69,098
Social security and other taxes		2,528	3,291
		────────	────────
		75,300	72,526
		════════	════════
Deferred income
		2022	2021
		£	£
Amount deferred in year		70,257 ════════	67,538 ════════

16. Creditors: amounts falling due within one year

17. Deferred income

Deferred income relates to the Autumn terms tuition fees which have been received in advance.

18. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,971 (2021: £2,909).

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THE SUNNINGWELL SCHOOL OF ART

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2022

19. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At 1
	September				At 31 August
	2021	Income	Expenditure	Transfers		2022
	£	£	£	£		£
General funds	35,884	307,685	(304,750)	–		38,819
	════════	═════════	═════════	════		════════
	At 1
	September				At	31 August
	2020	Income	Expenditure	Transfers		2021
	£	£	£	£		£
General funds	60,192 ════════	230,696 ═════════	(258,004) ═════════	3,000 ═══════		35,884 ════════

Unrestricted fund - This fund can be used in accordance with the charitable objectives at the discretion of the trustees. The charity does not have any stipulation on how these funds are spent.

Restricted funds

Restricted funds
	At
	1 September			At 31 August
	2021	Income	Expenditure	Transfers	2022
	£	£	£	£	£
Development fund	28,606	977	(977)	–	28,606
Events	–	–	–	–	–
Local grants	–	–	–	–	–
	────────	────	────	────	────────
	28,606	977	(977)	–	28,606
	════════	════	════	════	════════
	At
	1 September				At 31 August
	2020	Income	Expenditure	Transfers	2021
	£	£	£	£	£
Development fund	28,606	–	3,000	(3,000)	28,606
Events	–	1,000	(1,000)	–	–
Local grants	–	3,000	(3,000)	–	–
	────────	───────	───────	───────	────────
	28,606	4,000	(1,000)	(3,000)	28,606
	════════	═══════	═══════	═══════	════════

The restricted funds of the charity are as follows:-

Development fund - The development fund represents funds raised and spent on the cost of studies and certain equipment.

Events - This relates to grants received specifically to put on an international sculpture day. The fund was fully expended in the year on costs to run the event.

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THE SUNNINGWELL SCHOOL OF ART

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 AUGUST 2022

20. Analysis of net assets between funds

Analysis of net assets between funds
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Tangible fixed assets	30,410	–	30,410
Current assets	83,709	28,606	112,315
Creditors less than 1 year	(75,300)	–	(75,300)
	────────	────────	─────────
Net assets	38,819	28,606	67,425
	════════	════════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Tangible fixed assets	32,426	–	32,426
Current assets	75,984	28,606	104,590
Creditors less than 1 year	(72,526)	–	(72,526)
	────────	────────	─────────
Net assets	35,884	28,606	64,490
	════════	════════	═════════

21. Related parties

There were no related party transactions requiring disclosure in this or the previous year other than those mentioned below.

During the year, payments totalling £1,108 (2021 - £nil) were made to Bower and Bailey solicitors in respect of legal advice regarding the incorporation of the charity. John Simms, who resigned as a trustee on 29 June 2022 was a partner in this practice. There were no amounts owed to them at 31 August 2022 (2021 - £nil).

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THE SUNNINGWELL SCHOOL OF ART

MANAGEMENT INFORMATION

YEAR ENDED 31 AUGUST 2022

The following pages do not form part of the financial statements.

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THE SUNNINGWELL SCHOOL OF ART

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2022

	2022	2021
	£	£
Income and endowments
Donations and legacies
Donations and legacies	2,250	3,829
Local grants receivable	977	6,000
	───────	───────
	3,227	9,829
	───────	───────
Charitable activities
Tuition fees	297,545	189,277
Bursaries from unrestricted fund	(2,406)	(1,514)
Events	3,632	360
	─────────	─────────
	298,771	188,123
	─────────	─────────
Investment income
Interest receivable	4	157
	────	────
Other income
Job retention grant income	–	18,490
Local authority grant income	6,660	18,097
	───────	────────
	6,660	36,587
	───────	────────
	─────────	─────────
Total income	308,662	234,696
	═════════	═════════
Expenditure
Expenditure on charitable activities
Purchases	23,096	15,991
Wages and salaries	130,796	132,367
Employer's NIC	8,349	7,617
Pension costs	2,971	2,909
Rent	3,002	2,512
Light and heat	5,711	3,688
Cleaning, repairs and maintenance	14,927	9,730
Insurance	2,510	2,418
Legal and professional fees	1,108	–
Telephone	1,445	1,457
Other office costs	1,552	1,183
Depreciation	2,016	2,023
Miscellaneous expenses	945	486
Independent examination fees	2,760	2,940
Tutoring fees	104,539	73,683
	─────────	─────────
	305,727	259,004
	─────────	─────────
	─────────	─────────
Total expenditure	305,727	259,004
	═════════	═════════
	─────────	─────────
Net income/(expenditure)	2,935	(24,308)
	═════════	═════════

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