## The Barnet Guild of Artists
Registered Charity number: 1186028
## Trustees Report and Financial Statements
For the Year Ended 31st December 2022
## The Barnet Guild of Artists
Report of the Trustees for the year ended 31st December 2022
## Reference and Administrative Information
Registered Charity: 1186028
Registered Office and Operational Address: The Barnet Guild of Artists Whalebones Wood Street Barnet EN5 4BZ
## Trustees and Officers
The directors of the charitable company (the Charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. There have been no changes to the trustees during the year other than listed below.
Qing Qi Marie Susan Earnshaw Valerie Cowan David Longstaff
Members of the Management Committee David Longstaff Chairman Sue Russell Treasurer Nichola Hunt Business Manager Jackie Siaw-Smith Membership Bryan Polikoff Secretary Jenny Eaton Events Organiser Bankers Co-operative Bank
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## The Barnet Guild of Artists
Report of the Trustees for the year ended 31st December 2022
## Structure, Governance, and Management
Governing Document CIO - ASSOCIATION Registered 29 Oct 2019
Appointment of Trustees
A management committee consisting of a board of trustees and other volunteers govern the Charity. The board of trustees is elected at an annual general meeting in accordance with the Articles of Asociation, when one third of existing trustees retire from office. Trustees are eligible for re-election. There is a minimum of three trustees and, between annual general meetings, additional trustees may be co-opted by the board for a term of up to one year.
## Related Parties
The charity is independent of any other charities or organisations but works closely with other organisations. The Art Studio is leased from the Whalebones Trust.
## Risk Management
The trustees undertake regularly a review of the major risks to which the company is exposed and establish systems to mitigate those risks.
## Objectives and activities
The Guild was founded in 1948 and the CIO created in 2019 to take over the assets, liabilities, and all activities of the existing Guild, a private artists' club. The Studio is based in the gounds of the Whalebones Trust, created by original member and owner of the Whalebones Park, Gywneth Cowing. The Guild was founded to advance education in all the visual arts for the public benefit in particular, but without limitation, by means of lectures, meetings, demonstrations, workshops, exhibitions and the provisions of facilities for the practice of the visual arts. To further such other exclusively charitable purposes (under the law of England and Wales) as the Trustees may from time to time determine.
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## The Barnet Guild of Artists
## Report of the Trustees for the year ended 31st December 2022
## Achievements and Performance
Activities have resumed and gained momentum. Due to the uncertainty the annual exhibition was cancelled again. The development and growth of the charity, through the building of a new studio, is delayed pending a new planning application being developed and submitted by our landlords, the Whalebones Trustees. We expect the plans to be submitted for approval in summer 2023.
## Financial Review
## Results for the year
During the year to 31 December 2022 the charity showed a surplus of £5,947. The assets held by the charity currently stand at £53,954
## Format of the Accounts
The accounts comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2005) issued in March 2005.
## Investment Powers
The trustees are empowered by the Articles of Association to invest the funds of the Charity as they deem appropriate.
## Trustee Assurance
The Trustees can confirm that the Charity's Assets are sufficient to fulfil its obligations and that all cash and investments held by the Charity have been acquired in accordance with the powers available to them under the Articles of Association.
## Reserves Policy
The company has reserves of over £20,000.
Current expenditure is intended to be covered by members' subscriptions and donations.
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## The Barnet Guild of Artists Report of the Trustees for the year ended 31st December 2022
## Plans for Future Periods
The Guild aims to continue its development in the local community.
## Statement of Trustees Responsibilities
The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and regulations.
Company Law requires the Trustees to prepare financial statements for each financial period. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure of the Charity for that year.
In preparing these financial statements the Trustees are required to:
- Select suitable accounting policies and apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 24th May 2023
and signed on their behalf by David Longstaff
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## **The Barnet Guild of Artists**
## **Financial Statements**
## **For the Year Ended 31st December 2022**
## **Statement of Financial Activities**
|**Incoming Resources**
Studio fees and Hires
Grants and Donations
Demonstrations
Exhibitions
Membership Subscriptions
Interest
**Total Incoming Resources**
**Resources Expended**
Studio maintenance and running
Lectures and Workshops
Exhibitions
Bank Charges
Expenses
Governance, stationery & Printing
**Total Resources Expended**
**Net Movement of Funds**
**Fund Balances at 1st January 2022**
**Fund Balances at 31st December 2022**|**2022**
**2021**
£
£
2,788
1,572
10,000
0
165
65
494
785
820
1,105
8
13
**14,275**
**3,540**
3,795
3,135
898
363
1,366
705
0
5
120
2,149
370
**8,328**
**4,578**
**5,947**
**(1,038)**
48,007
49,045
**53,954**
**48,007**
**Unrestricted Funds**|**2022**
**2021**
£
£
2,788
1,572
10,000
0
165
65
494
785
820
1,105
8
13
**14,275**
**3,540**
3,795
3,135
898
363
1,366
705
0
5
120
2,149
370
**8,328**
**4,578**
**5,947**
**(1,038)**
48,007
49,045
**53,954**
**48,007**
**Unrestricted Funds**|
|---|---|---|
|||**3,540**|
|||3,135
363
705
5
370|
|||**4,578**|
|||**(1,038)**
49,045|
|||**48,007**|
All activities relate to continuing operations. There are no other recognised gains or losses apart from the ones shown above.
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## **The Barnet Guild of Artists**
## **Financial Statements**
## **As at 31st December 2020**
|**Balance Sheet**
Current Account
Deposit Account
Cash
**Net Current Assets/(Liabilities)**
**Net Assets**
Represented by:
**Restricted Funds**
**Unrestricted Funds**|**2022**
£
8,024
45,219
711
53,954
**0**
**0**
-
53,954
**53,954**|**2021**
£
2,727
45,217
63|
|---|---|---|
|||48,007|
|||**0**|
|||**0**|
|||-
48,007|
|||**48,007**|
Approved by the Trustees on 24th May 2023
and signed on their behalf by David Longstaff
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## **The Barnet Guild of Artists**
## **Notes to Financial Statements**
## **For the Year Ended 31st December 2022**
## **1. Principal Accounting Policies**
## **(a) Basis of Accounting**
The charity trustees must comply with the requirements of the Charities Act 2011 with regard to the keeping of accounting records, to the preparation and scrutiny of statements of accounts, and to the preparation of annual reports and returns. The statements of accounts, reports and returns must be sent to the Charity Commission regardless of the income of the CIO, within 10 months of the financial year end.
## **(b) Going Concern**
The Trustees consider there is reasonable expectation that the Charity has adequate resources to consider an operational existence for the forseeable future. Accordingly we continue to to adopt the going concern basis in preparing this annual report and financial statements.
## **(c) Change of Accounting Policy**
The accounts present a true and fair view and no changes have been made to the accounting policy.
## **(d) Income**
i) Donations and other income are credited to the Statement of Financial Activities on a receivable basis. All income arose from within the United Kingdom.
ii) Interest receivable is taken into the Statement of Financial Activities as it accrues to the charity.
## **(e) Resources expended**
Resources expended are included in the Statement of Financial Activities on an accruals basis.
## **(f) Depreciation**
All assets, except land, are written off in the year of the expense.
## **(g) Operating leases**
There are no operating leases.
## **2 Legal Status of the Charity**
The charity is a CIO Association. In the event of the Charity being wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
|**3**
**Grants and Donations**
**Grants**
Individual trusts and legacies
**Donations**
Other Donations (including Gift Aid)|**2022**
£
10,000|**2021**
£
0|
|---|---|---|
||||
- **4 Fixed Assets**
## **5 Development Costs**
0 0
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