BROXBOURNE ARTS
REGISTERED CHARITY NUMBER: 1188425
REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR BROXBOURNE ARTS FORUM
BROXBOURNE ARTS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 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 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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
This year the Forum presented a full range of activities including an outdoor Shakespeare production; six lunchtime talks and three sessions of Watercolour Classes. As usual the Lunchtine Talks and Classes were our main sources of income throughout the year. We also produced three editions of our programme publicizing the arts events of the Borough Our patrons continued to support us generously and we were also able to claim Gift Aid on their donations. During the year we received a minor payment from the Broxbourne Lottery and some very welcome grants from The Borough of Broxbourne Council, and Hertfordshire County Council and finished the year with a loss of just £185.
Page 1
BROXBOURNE ARTS FORUM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Approved by order of the board of trustees on: 9th July 2024
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 2024, 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: 24th June 2024
Page 3
BROXBOURNE ARTS FORUM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
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 |
2024 Total funds £ 4,702 10,482 128 15,312 10,997 396 4,103 15,496 (184) 17,738 17,554 |
2023 Total funds £ 2759 8,135 31 |
|---|---|---|
| 10,925 5,494 396 2,751 |
||
| 8,641 | ||
| 2,284 15,454 |
||
| 17,738 |
The notes form part of these financial statements
Page 4
BROXBOURNE ARTS FORUM
BALANCE SHEET AT 31 MARCH 2024
| 2024 Total Funds Notes £ FIXED ASSETS Tangible assets 5 191 CURRENT ASSETS Prepayments and accrued income 3,537 Cash at bank and in hand 16,484 20,021 CREDITORS Amounts falling due within one year 6 (2,659) NET CURRENT ASSETS 17,362 TOTAL ASSETS LESS CURRENT LIABILITIES 17,553 NET ASSETS 17,553 FUNDS Unrestricted funds 7 17,553 TOTAL FUNDS 17,553 |
2023 Total Funds £ 212 3,125 18,311 21,436 (3,910) 17,526 17,738 17,738 17,738 17,738 |
|---|---|
The financial statements were approved by the Board of Trustees on 9th July 2024 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 2024
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 Events Income from Classes Income from Lunches Affiliation Fees BARTS Programme Adverts Broxbourne Lottery Sundries Hall Hire Allowance |
2024 2023 Total Total Funds Funds £ £ 2,368 - 3,300 2,655 3,827 4,727 519 478 330 75 120 147 18 53 - - 10,482 8,135 |
|---|---|
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BROXBOURNE ARTS FORUM
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
3. INVESTMENT INCOME
| 2024 | 2023 | |
|---|---|---|
| Total | Total | |
| Interest receivable – trading | 128 | 31 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. .
5. TANGIBLE FIXED ASSETS
| COST At 1 April 2023 Additions At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2023 NET BOOK VALUE QQQ At 31 March 2024 At 31 March 2023 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors |
Fixtures and fittings £ 6,397 0 6,397 6,185 21 6,206 191 212 2024 £ 1,707 2023 £ 3,004 952 906 2,659 3,910 |
|---|---|
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BROXBOURNE ARTS FORUM
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2024
7. MOVEMENT IN FUNDS
| Net | ||||
|---|---|---|---|---|
| movement | ||||
| At 1/4/23 | in funds | At 31/3/24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 17,738 | (184) | 17,554 | |
| TOTAL FUNDS | 17,738 | (184) | 17,554 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 15,312 | (15,496) | (184) | |
| TOTAL FUNDS | 15,312 | (15,496) | (184) | |
| Comparatives for 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 | |
| Comparative net movement in funds, included in the | above are as follows: | |||
| 2022/23 | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 10,925 | (8,641) | 2,284 | |
| 2 | ||||
| TOTAL FUNDS | 10,925 | (8,641) | 2,284 |
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BROXBOURNE ARTS FORUM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| INCOMING RESOURCES Voluntary income Donations Gift Aid Grants & Allowances 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 |
2024 £ 2,110 311 2,281 4,702 2,368 3,300 3,827 519 330 120 18 10,482 128 15,312 6.066 2.080 2,611 240 10,997 396 - 396 1,375 234 288 1,467 541 - 100 77 21 4,104 15,496 (184) |
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 |
|---|---|---|
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4
BROXBOURNE ARTS FORUM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
INCOME AND EXPENDITURE ACCOUNT
| SURPLUS | ||||
|---|---|---|---|---|
| / | ||||
| INCOM | EXPENDITUR | |||
| E | E | LOSS | ||
| EVENTS | ||||
| Romeo & Juliet | 2,368 | Romeo & Juliet | 5,407 | (3,039) |
| My Kind of Music | 660 | (660) | ||
| EVENTS TOTAL | 2,368 | EVENTS TOTAL | 6,067 | (3,699) |
| LUNCHES | LUNCHES | |||
| Celebrity Cause | 704 | Celebrity Cause | 472 | 232 |
| Movers & Shakers | 624 | Movers & Shakers | 419 | 205 |
| Town & Country | 544 | Town & Country | 427 | 117 |
| By Royal Appointment | 624 | By Royal Appointment | 434 | 190 |
| Art & Audacity | 736 | Art & Audacity | 478 | 258 |
| Health, Wealth & | Health, Wealth & | |||
| Happiness | 576 | Happiness | 381 | 195 |
| General | 19 | General | 0 | 19 |
| LUNCHES TOTAL | 3,827 | LUNCHES TOTAL | 2,611 | 1216 |
| WATERCOLOUR | 3,300 | WATERCOLOUR | 2,080 | 1,220 |
| CLASSES | CLASSES | |||
| INCOME | EXPENDITURE | |||
| Income from Events | 2,368 | Expenditure on Events | 6,066 | |
| Income from Lunches | 3,827 | Expenditure on Lunches | 2,611 | |
| Income from Classes | 3,300 | Expenditure on Classes | 2,080 | |
| Donations | 2,110 | Insurance Premium | 1,375 | |
| Affiliation fees | 519 | Stationery, Post. & Print. | 234 | |
| Programme Adverts | 330 | Love Hoddesdon | 100 | |
| Gift Aid Claimed | 311 | Advertisements | 240 | |
| Grants | 2,281 | BArts Programme | 1,467 | |
| Broxbourne Lottery | 120 | Broadsheet | ||
| Amazon | 18 | Accountancy | 396 | |
| Interest | 128 | Web-site | 541 | |
| Bank Charges | 77 | |||
| Sundries | 288 | |||
| Net Depreciation | 21 | |||
| Total Income | 15,312 | Total Expenditure | 15,496 | (184) |
| Surplus over period | (184) |
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