## **A** rts **D** estination South Molton **(AD** SM **)** Trustees **’** nnual eport 2024 **A R -** 2 **5** The trustees of the charity submit their nnual eport and the Financial Statements A R for the year ended 31 March 2025. The trustees have complied with statutory requirements and the governing document in preparing the report and accounts. ## Constitution and **O** rganisational Structure The charity was entered on the egister of Charities on March 2020 and is R 9 Charitable Incorporated rganisation CIO ( O) governed y a Foundation Model b constitution adopted on March 20209 . Its registered charity number is 1188431 and its registered office address is: The mory Centre, 2 **A 1 5** ast Street, South Molton **E EX36** 4 **BB.** |It is go erned y a oard of
v
b
b|trustees which consists of
:|trustees which consists of
:|trustees which consists of
:|trustees which consists of
:|trustees which consists of
:|| |---|---|---|---|---|---|---| |arolina ndreaso a
**K**
**A**
**v**|–||||appointed Septem er 2024
b|| |Matthew ushell
**B**
–|||||appointed March 2020|| |peter ishop
**b**
, Treasurer||
–|||appointed ecem er 2022
D
b|| |e
r Michael
randey
**R v. D .**
**G**|||, Secretary|
–|appointed Fe ruary 202
b|1| |ohn St ohn
**J**
**J**
, Chair
–|||||appointed uly 2022
J|| |a id Worden
**D v**
–|||||appointed uly 2022
J|| New trustees are elected y the oard of trusteesb b . part from the founding trustees, A who serve initial terms of etween two and four years, trustees serb ve for four years but may e reb -elected. ne new trustee O (Karolina ndreasoA va) was recruited during 2024/2025 and Matthew ushell is to serB ve another term. We continue to need to look at the skill sets which we currently possess and focus on uilding up a strong b trustee team with a alanced, and appropriate, range of capab bilities and nowledgek . ## **Obj** ectl **v** es The objects of the CIO remain to advance and promote the arts, culture, and heritage for the enefit of persons predominately, ut not eb b xclusively, resident in South Molton and the surrounding area, as well as for isitors to the areav . AS stated in our last nnual eport A R ADSM charity The trustees decided to take a step back from active involvement in arts events. We want to encourage local people in all areas of the arts to come forward with ideas for events. These should enefit oth b b artists and the wider community through participation or experience. Our aim is that ADSM look for ways that these programmes‘ ’ can e supported and b funded, where appropriate, remunerating the artists involved as well as assisting with finance for materials and other costs relating to their events. For us it is most important local people can have their say and that their oices are v heard when we discuss these proposals. It is still our intention to hold regular open meetings where any interested parties can ring ideas andb /or oin in discussionsj . ## **A** ccounts Summary Accounts are prepared on a eceipts and ayments asisR P b . Opening alanceB : 2,£ 805.29 Closing alanceB : 2,£ 878.13 Total eceipts 400 Including compensation and refundsR £ ( ) Total Expenditure £327.16 Arts estination South Molton has a policy of ensuring that D £1,500 is held in reserves to cover unforeseen expenditure. ## **Arts Destination South Molton** ## **No: 1188431** ## **Receipts and Payments accounts For the period from 01 April 2024 to 31 March 2025** ## **Section A Receipts and payments** |**A1 Receipts**|**Unrestricted**
**funds**
**£**|**Unrestricted**
**funds**
**£**|**Restricted funds**
**£**|**Restricted funds**
**£**|**Endowment**
**funds**
**£**|**Endowment**
**funds**
**£**|**Total funds**
**£**| |---|---|---|---|---|---|---|---| |Compensation NatWest|100.00||-||-||100.00| |Compensation NatWest|300.00||-||-||300.00| ||-||||-||-| ||||-||-||-| ||-||||-||-| ||-||||-||-| ||-||||||-| ||**-**||**-**||**-**||**-**| |**_Sub total_**_(Gross income for AR)_|**£400.00**||**£0.00**||**£0.00**||**£400.00**| ||||||||| |**A2 Asset and investment sales, (see**
**table).**|||||||| ||**-**||||||**-**| ||**-**||||||**-**| |**_Sub total_**|**-**||||||**-**| |**_Total receipts_**
**A3 Payments**|||||||| ||||||||**£400.00**| ||||||||| |
Artist/performer costs|**175.00**||||||**175.00**| |Event Costs|||||||**-**| |Artists materials|||||||**-**| |Leaflet design, printing and delivery|||||||**-**| |Other PR - video, photography|||||||**-**| |Travel Costs|||||||**-**| |Web site and email|**152.16**||||||**152.16**| ||**-**||||||**-**| ||**-**||||||**-**| |**_Sub total_**|**£327.16**||||||**327.16**| ||||||||| |**A4 Asset and investment purchases,**
**(see table)**|||||||| ||**-**||||||**-**| ||**-**||||||**-**| |**_Sub total_ **|**-**||||||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||| ||||||||**327.16**| ||||||||| ||**72.84**||||||**72.84**| ||**-**||||||**-**| ||**2,805.29**||||||**2,805.29**| ||**£2,878.13**||||||**£2,878.13**| **Section B Statement of assets and liabilities at the end of the period Unrestricted Restricted funds Categories Details funds £ £ B1 Cash funds** Cash Balance at year end **2,878.13 -** _**Total cash funds**_ **£2,878.13 £0.00** (agree balances with receipts and payments account(s)) OK OK **Fund to which Amount due Details liability relates (optional) B5 Liabilities** **Note 1:** Refunds for faulty equipment purchased Signed by one or two trustees on behalf of all the trustees **----- Start of picture text -----**
Signature Print Name
peter bishop
Matthew Bushell
**----- End of picture text -----**