BROXBOURNE ARTS FORUM REGISTERED CHARITY NUMBER: 1188425
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31 MARCH 2023 FOR BROXBOURNE ARTS FORUM
BROXBOURNE ARTS FORUM CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
| Detailed Statement of Financial Activities | 10 |
BROXBOURNE ARTS FORUM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1188425
Principal address
4 Warners Avenue Hoddesdon Hertfordshire EN11 8LR
Trustees
J M Gordon Chairman J Elson Treasurer Mrs L Rayner Programme Director Mrs M Hutchinson Ms K Broad Mrs H Marsh
Independent examiner
J Avery 11, Copthorn Avenue Broxbourne Herts EN10 7RA
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its governing document, its new constitution dated the 9th of July 2019, and constitutes a Charitable Incorporated Organistion (CIO) registered on the 9th of March 2020.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
Charitable Objectives
The objective of the CIO is the advancement of education for the public benefit by fostering and promoting understanding and appreciation of the arts, including but not exclusively by the provision of classes, seminars and training courses.
ACHIEVEMENT AND PERFORMANCE
Activities
The Broxbourne Art Forum, created in 2000, supplements the Borough's own programme of events by providing concerts, plays and operas which would not otherwise be performed. We engage a pianist at lunchtimes in the Spotlight Bar. We organize watercolour classes for local residents and we promote local artists' work by arranging displays. We make grants to eligible students. The Forum also acts as an umbrella organisation for arts groups within the Borough.
Performance
The Forum is now recovering from the effects of the Covid pandemic and our Lunchtime talks were held at the Dinant Room, and Watercolour Classes in person although it was unfortunate that we were not able to hold any outdoor theatre in the Spotlight Gardens during the year. The Lunchtine Talks and Classes were our main sources of income throughout the year. Fortunately our patrons continued to support us generously and we were also able to claim Gift Aid on their donations. That, together with a modest payment from the Broxbourne Lottery and some very welcome grants from The Borough of Broxbourne Council, ensured we finished the year with a £2,284 surplus.
Page 1
BROXBOURNE ARTS FORUM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
Approved by order of the board of trustees on: 18th July 2023
J M Gordon - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROXBOURNE ARTS FORUM
I report on the accounts for the year ended 31 March 2023, which are set out on pages four to nine.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the 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.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
J Avery 11, Copthorn Avenue Broxbourne Herts EN10 7RA
Date: 29th June 2023
Page 3
BROXBOURNE ARTS FORUM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
INCOMING RESOURCES Notes Incoming resources from generated funds Voluntary income Activities for generating funds 2 Investment income 3 Total incoming resources RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income Governance costs Other resources expended Total resources expended NET INCOMING RESOURCES RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Total funds £ 2,759 8,135 31 10,925 5,494 396 2,751 8,641 2,284 15,454 17,738 |
2022 Total funds £ 2,090 3,809 1 |
|---|---|---|
| 5,900 1,831 396 1,639 |
||
| 3,866 | ||
| 2,034 13,420 |
||
| 15,454 |
The notes form part of these financial statements
Page 4
BROXBOURNE ARTS FORUM
BALANCE SHEET AT 31 MARCH 2023
| 2023 Total Funds Notes £ FIXED ASSETS Tangible assets 5 212 CURRENT ASSETS Prepayments and accrued income 3,125 Cash at bank and in hand 18,311 21,436 CREDITORS Amounts falling due within one year 6 (3,910) NET CURRENT ASSETS 17,526 TOTAL ASSETS LESS CURRENT LIABILITIES 17,738 NET ASSETS 17,738 FUNDS Unrestricted funds 7 17,738 TOTAL FUNDS 17,738 |
2022 Total Funds £ 236 666 17,367 18,033 (2,816) 15,218 15,454 15,454 15,454 15,454 |
|---|---|
The financial statements were approved by the Board of Trustees on xxth June 2023
and were signed on its behalf by:
............................................ J M Gordon -Trustee
The notes form part of these financial statements
Page 5
BROXBOURNE ARTS FORUM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. ACTIVITIES FOR GENERATING FUNDS
Income from Classes Income from Lunches Affiliation Fees BARTS Programme Adverts Broxbourne Lottery Sundries Hall Hire Allowance |
2023 2022 Total Total Funds Funds £ £ 2,655 2,355 4,727 900 478 366 75 - 147 176 53 12 - - 8,135 3,809 |
|---|---|
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BROXBOURNE ARTS FORUM
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
3. INVESTMENT INCOME
| 2023 | 2022 | |
|---|---|---|
| Total | Total | |
| Interest receivable – trading | 31 | 1 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. .
5. TANGIBLE FIXED ASSETS
| COST At 1 April 2022 Additions At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors |
Fixtures and fittings £ 6,397 0 6,397 6,161 24 6,185 212 236 2023 £ 3,004 2022 £ 2,364 906 452 3,910 2,816 |
|---|---|
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BROXBOURNE ARTS FORUM
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
7. MOVEMENT IN FUNDS
| Net | |||
|---|---|---|---|
| movement | |||
| At 1/4/22 | in funds | At 31/3/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 15,454 | 2,284 | 17,738 |
| TOTAL FUNDS | 15,454 | 2,284 | 17,738 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 10,925 | (8,641) | 2,284 |
| TOTAL FUNDS | 10,925 | (8,641) | 2,284 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | |||
| At 1/4/21 | in funds | At 31/3/22 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 13,420 | 2,034 | 15,454 |
| TOTAL FUNDS | 13,420 | 2,034 | 15,454 |
| Comparative net movement in funds, included in the above are as follows: | |||
| 2021/22 | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 5,900 | (3,866) | 2,034 |
| 2 | |||
| TOTAL FUNDS | 5,900 | (3,866) | 2,034 |
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BROXBOURNE ARTS FORUM
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1/4/21 in funds At £ £ Unrestricted funds General fund 13,420 (4,318) TOTAL FUNDS 13,420 (4,318) |
31/3/23 £ 17,738 17,738 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 16,825 | (12,507) | 4,318 |
| TOTAL FUNDS | 16,825 | (12,507) | 4,318 |
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BROXBOURNE ARTS FORUM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| INCOMING RESOURCES Voluntary income Donations Gift Aid Herts CC Grants Activities for generating funds Income from Events Income from Classes Income from Lunches Affiliation Fees BARTS Programme Adverts Broxbourne Lottery Sundries Investment income Interest receivable - trading Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Expenditure on Events Expenditure on Classes Expenditure on Lunches Expenditure on Advertisements Governance costs Independent Examiner AGM and meeting room hire Support costs Management Insurance Postage and stationery Sundries BARTS Programme / Broadsheet Website Costs Grants to Students Love Hoddesdon Membership Fee Bank Charges Fixtures and fittings Total resources expended Net income |
2023 £ 1,929 230 600 2,759 - 2,655 4,727 478 75 147 53 8,135 31 10,925 660 2.080 2,514 240 5,494 396 - 396 1,150 204 55 854 322 - 50 92 24 2,751 8,641 2,284 |
2022 £ 1813 277 - 2,090 - 2,355 900 366 - 176 12 3,809 1 5,900 - 1.650 181 - 1,831 396 - 396 1,152 114 46 72 129 - 100 - 26 1,639 3,866 2,034 |
|---|---|---|
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BROXBOURNE ARTS FORUM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
INCOME AND EXPENDITURE ACCOUNT
| SURPLUS/ | ||||
|---|---|---|---|---|
| INCOME | EXPENDITURE | LOSS | ||
| EVENTS | ||||
| My Kind of Music | 660 | -660 | ||
| LUNCHES | LUNCHES | |||
| Debunking History | 780 | Debunking History | 548 | 232 |
| Two Elizabeths | 646 | Two Elizabeths | 333 | 312 |
| Mind the Gap | 580 | Mind the Gap | 263 | 317 |
| National Treasures | 675 | National Treasures | 308 | 367 |
| Pianissimo | 736 | Pianissimo | 381 | 355 |
| Rainbow Rebels | 586 | Rainbow Rebels | 337 | 249 |
| Mists of Time | 720 | Mists of Time | 343 | 377 |
| General | 5 | General | 0 | 5 |
| LUNCHES TOTAL | 4,728 | LUNCHES TOTAL | 2,513 | 2,214 |
| WATERCOLOUR | 2,655 | WATERCOLOUR | 2,080 | 575 |
| CLASSES | CLASSES | |||
| INCOME | EXPENDITURE | |||
| Income from | ||||
| Events | 0 | Expenditure on Events | 660 | |
| Income from | ||||
| Lunches | 4,728 | Expenditure on Lunches | 2,513 | |
| Income from | ||||
| Classes | 2,655 | Expenditure on Classes | 2,080 | |
| Donations | 1,929 | Insurance Premium | 1,150 | |
| Affiliation fees | 478 | Stationery, Post. & Print. | 204 | |
| Programme | ||||
| Adverts | 75 | Love Hoddesdon | 50 | |
| Gift Aid Claimed | 230 | Advertisements | 240 | |
| Borough Grants | 600 | BArts Programme | 790 | |
| Broxbourne Lottery | 147 | Broadsheet | 64 | |
| Amazon | 5 | Accountancy | 396 | |
| Interest | 31 | Web-site | 322 | |
| Prior Year | 48 | Bank Charges | 92 | |
| Sundries | 55 | |||
| Net Depreciation | 24 | |||
| Total Income | 10,925 | Total Expenditure | 8,641 | 2,284 |
| Surplus over | ||||
| period | 2,284 |
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