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2022-03-31-accounts

Trustees’ Annual Report for the period

From: 01 January 2021 To: 31 March 2022

Charity name: Wyldwood Arts

Charity registration number: 1189046

Objectives and Activities

Objectives and Activities
SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 Provide services to the community which
promotes and encourages the engagement in
the arts and crafts through events,
participatory projects and performances
enhancing and providing health and well -being
to communities andparticipants of all ages.
Summary of the main activities
in relation to those purposes
for the public benefit, in
particular, the activities,
projects or services identified
in the accounts.		 Para 1.17 and 1.19 Enable creative encounters for communities
and individuals from across the southwest, and
beyond.
Specialise in intergenerational work that
provide therapeutic and educational benefits
that are tailored to individual and group needs,
ensuring everyone has access to a high-quality
artistic experience.
Work with older people, those with special
educational needs, children and young people
from disadvantaged backgrounds, and people
in rural areas to bringarts to them.
Statement confirming whether
the trustees have had regard
to the guidance issued by the
Charity Commission on public
benefit		 Para 1.18 The Wyldwood trustees have received the
guidance issued by the Charity Commission on
public benefit

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference
Policy on grant making Para 1.38 n/a
Policy on social investment
including program related
investment		 Para 1.38 n/a
Contribution made by
volunteers		 Para 1.38 n/a
Other

Achievements and Performance

SORP reference Jan 21-March 22
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to the
circumstances of its
beneficiaries and any wider
benefits to society as a whole.		 Para 1.20 We completed an Arts Council England funded
piece of work developing our intergenerational
newspaper The Meeting Post between Jan 21-
March 22 working with care homes and
organisations connecting with people living
alone. 6500 copies distributed and 50+
settings engaged.
Our commission from Forestry England as part
of their Foresters Forest project culminated
with a community banner making project
working with 250+ people and a performance
of an audio play spotlighting a Coleford steel
making family from the 1800’s working with a
community cast of 15 people aged 16-65+
Our intergenerational play sessions in
collaboration with The Courtyard Theatre
Herford continued online from Jan-July 21 and
then returned to in person provision from
September 21.
We continued to develop strategic
relationships across the Forest of Dean.
In December 2021 we were granted funding
From The National Lottery Community
Foundation’s (TNLCF) Reaching Communities
fund to support a 3 year programme from
2022-25 working with communities in the
Forest of Dean in recovering from the effects of
thepandemic.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41 We maintained a level of stability and were
able to use the opportunities of the pandemic
to develop work during a period of major
instability for the community arts sector.
Our remote offer was successful and impactful
with feedback describing how meaningful it
was to older people facing loneliness and
isolation due to pandemic restrictions.
In person work later in the reporting period
was undertaken with care to protect
vulnerable beneficiaries.
Performance of fundraising
activities against objectives set		 Para 1.41 The Arts England funding secured in 2020
underpinned our activity costs and contributed
to our core capacity for the reporting period.
Further funds from The Ashley Family
Foundation, Gloucestershire County council &
Garfield Weston.
As described above, funding from TNLCF was
secured following an 11 month application
process which will inform our programme for
the next 3years.
Investment performance
against objectives		 Para 1.41 n/a

Financial Review

Financial Review
Review of the charity’s
financial position at the end of
the period		 Para 1.21 Total income in the reporting period was:
£ 158,467
Total expenditure in the reporting period was:
£137,745
Reserves carried into the reporting period
were:
£10,108
Unrestricted Reserves at the end of the
reporting period are:
£30,002
Restricted funds carried forward into the next
financial year are:
£828
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 Reserves of £30,002 carried forward are
equivalent to 20 weeks running costs (core
staff)
The onset of the pandemic highlighted our
need for reserves. As an organisation using full
cost recovery from project costs to support our
core operation, when project activity stopped,
we had no back up to maintain the
continuation of our core. We also recognised
that if it became necessary to close the
organisation, we would need unrestricted
funds to do so.
Fundraising for unrestricted income has
enabled us to build reserves and going forward
we will use them to add essential core capacity
and maintain 12 weeks runningcosts.
Amount of reserves held Para 1.22 £30,002
Reasons for holding zero
reserves		 Para 1.22 n/a
Details of fund materially in
deficit		 Para 1.24 n/a
Explanation of any
uncertainties about the charity
continuingas agoingconcern		 Para 1.23 n/a

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources
of funds (including any
fundraising)		 Para 1.47 Main funders in 21/22:
Arts Council England
Forestry England
Garfield Weston
Ashley Family Foundation
Gloucestershire County Council
The National Lottery Community Fund (new in
2022)
Investment policy and
objectives including any social
investment policy adopted		 Para 1.46 n/a
A description of the principal
risks facing the charity		 Financial insecurity has been our primary risk
as our income comes through fundraising

Para 1.46 rather than revenue. Building reserves has been key to creating financial security and this along with at least one confirmed piece of funding until 2025 helps to secure the organisation. However, an expanded core team is needed to manage the greater workload that has come with increased project activity post pandemic. It is not possible to fully fund our core costs and overheads via full cost recovery from project funds therefore there remains an annual fundraising target which must be met to ensure the charity’s continuation. External factors including the growing cost of living and energy crisis have seen our overheads increase and an emerging hostility in attitude towards the arts stoked by the so called ‘culture wars’ has the potential to jeopardise funding for the arts sector as a whole in the longer term. We mitigate against these risks by continual fundraising to a range of arts and socially conscious funders, partnership working and creating high quality projects with a range of health & social benefits. Other

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing
document
(trust deed,royal charter)		 Para 1.25 Constitution
How is the charity
constituted?
(e.g unincorporated
association,CIO)		 Para 1.25 CIO
Trustee selection methods
including details of any
constitutional provisions
e.g. election to post or
name of any person or body
entitled to appoint one or
more trustees		 Para 1.25 No constitutional provisions for the
appointment of trustees.
First board of 3 trustees appointed by
selection and invitation.
Further trustees to be appointed by
recruitment.
Trustees appointed for minimum of 2
years.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures
adopted for the induction and
training of trustees		 Para 1.51 We use theCharity Governance Codeand the
Charity CommissionsEssential Trustee
guidelines from gov.uk
The charity’s organisational
structure and any wider
network with which the charity
works		 Para 1.51
Relationship with any related
parties		 Para 1.51
Other

Reference and Administrative details

Charityname Wyldwood Arts
Other name the charityuses Wyldwood
Registered charitynumber 1189046
Charity’s principal address c/o Belle Vue Centre
6 Belle Vue Road
Cinderford
Gloucestershire
GL14 2AB

Names of the charity trustees who manage the charity

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20		 Trustee name Office (if any) Dates acted if not for whole year Name of person (or body) entitled to
appoint trustee(if any)
Rebecca Chapman Chair Appointed Feb 2020
Dr Jessica Dr
McCormack		 Appointed Feb 2020
Toki Allison Finance Appointed Feb 2020
Jean Cooper Moran Appointed June 2022

Corporate trustees – names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address
adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary, Chair,
etc)
Date
Rebecca Chapman


Chair
20/01/23
20/01/23

Charity Registration Number: 1189046

Wyldwood Arts CIO Unaudited Financial Statements

31 March 2022

CURRENT ACCOUNTANCY LIMITED

14 Harrison Way Lydney Gloucestershire GL15 5BN

Wyldwood Arts CIO Financial Statements Period ended 31 March 2022

Page
Trustees’ annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 2
Statement of financial activities (including income and expenditure 3
account)
Statement of financial position 4
Statement of cash flows 5
Notes to the financial statements 6-12

Wyldwood Arts CIO Trustees’ Annual Report (Incorporating the Directors' Report) Period ended 31 March 2022

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the period ended 31 March 2022.

Reference and administrative details

Registered charity name Wyldwood Arts CIO Charity registration number 1189046 Principal office and registered office Belle Vue Centre St. Annals House 6 Belle Vue Road Cinderford Gloucestershire GL14 2AB The trustees T Allison Dr J McCormack R Chapman Independent examiner Current Accountancy Ltd Strategic report

The Trustees' Annual Report is appended as a separate document using the Charity Commission template.

The trustees’ annual report and the strategic report were approved on …................. and signed on behalf of the 20/01/23 board of trustees by:

R Chapman

Trustee

1

Wyldwood Arts CIO Independent Examiner's Report to the Trustees of Wyldwood Arts CIO Period ended 31 March 2022

I report to the trustees on my examination of the financial statements of Wyldwood Arts CIO ('the charity') for the period ended 31 March 2022.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (’the Act’).

I report in respect of my examination of the CIO's accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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

  1. Accounting records were not kept as required by section 130 of the Act; or

  2. The accounts do not accord with those records.

I confirm that there are no matter to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Current Accountancy Limited

Independent Examiner

13 Harrison Way Lydney Gloucestershire GL15 5BN

2

Wyldwood Arts CIO

Statement of Financial Activities (including income and expenditure account) Period ended 31 March 2022

----- Start of picture text -----
2022 2020
Unrestricted Restricted
Note Funds Funds Total Funds Total Funds
£ £ £ £
Income and endowments
Donations and legacies 4 23,000 135,465 158,465 110,979
Investment income 5 2 - 2 8
Total income 23,002 135,465 158,467 110,987
Expenditure
Expenditure on raising funds 6 - 299 299 17,709
Expenditure on charitable activities 7 - 137,446 137,446 83,170
-
Total expenditure 137,745 137,745 100,879
Net income and net movement in funds 23,002 - 2,280 20,722 10,108
Reconciliation of funds
-
Total funds brought forward 7,000 3,108 10,108
Total funds carried forward 30,002 828 30,830 10,108
----- End of picture text -----

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 6 to 12 form part of these financial statements

3

Wyldwood Arts CIO Statement of Financial Position Period ended 31 March 2022

----- Start of picture text -----
Note 2022 2020
£ £
Current assets
Debtors 10 5,574 4,535
Cash at bank and in hand 57,783 61,095
63,357 65,630
Creditors: amounts falling due within one year 11 32,527 55,522
Net current assets 30,830 10,108
Total assets less current liabilities 30,830 10,108
Net assets 30,830 10,108
Funds of the charity
Restricted funds 828 3,108
Unrestricted funds 30,002 7,000
Total charity funds 14 30,830 10,108
----- End of picture text -----

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

Directors' responsibilities:

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 20/01/23 are signed on behalf of the board by:

R Chapman Trustee

The notes on pages 6 to 12 form part of these financial statements.

4

Wyldwood Arts CIO Statement of Cash Flows Period ended 31 March 2022

----- Start of picture text -----
2022 2020
£ £
Cash flows from operating activities
Net income 20,722 10,108
Adjustments for:
Other interest receivable and similar income (2) (8)
Movement in accrued expenses 1,073 1,055
Changes in:
Trade and other debtors (1,039) (4,535)
Trade and other creditors (24,068) 54,467
Cash generated from operations (3,314) 61,087
Interest received 2 8
Net cash from operating activities (3,312) 61,095
Net increase / (decrease) in cash and cash equivalents (3,312) 61,095
Cash and cash equivalents at beginning of year 61,095 -
Cash and cash equivalents at end of year 57,783 61,095
----- End of picture text -----

The notes on pages 6 to 12 form part of these financial statements.

5

Wyldwood Arts CIO Notes to the Financial Statements Period ended 31 March 2022

1 General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Belle Vue Centre, St. Annals House, 6 Belle Vue Road, Cinderford, Gloucestershire, GL14 2AB.

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

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

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.

6

Wyldwood Arts CIO Notes to the Financial Statements (continued) Period ended 31 March 2022

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

7

Wyldwood Arts CIO Notes to the Financial Statements (continued) Period ended 31 March 2022

3 Accounting policies (continued)

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Financial Activities in the same period as the related expenditue. The deferred element of grants is included in creditors as deferred income.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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Wyldwood Arts CIO Notes to the Financial Statements (continued) Period ended 31 March 2022

4 Donations and legacies

£
£
£
Donations
Miscellaneous donations
2,229
2,229
Forest Voluntary Action Forum
3,100
3,100
The Courtyard Trust
8,000
8,000
Barnwood Trust
3,400
3,400
Active Gloucestershire
1,600
1,600
Garfield Weston
10,000
10,000
Ashley Family
10,000
10,000
Grants
Gloucestershire Community Fund
2,500
2,500
Arts Council England
61,391
61,391
Forestry Commission
26,714
26,714
Coleford Town Council
1,800
1,800
D'Oyly Carte
3,500
3,500
The Grateful Society
7,000
7,000
Create Gloucestershire
5,093
5,093
The Courtyard Trust
12,119
12,119
The National Lottery Community Fund
19
19
23,000
135,465
158,465
5
Investment income
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
Bank interest receivable
2
- 2
6
Costs of raising donations and legacies
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
Advertising and marketing costs
- 299 299
Unrestricted
Funds
Restricted
Funds
Total 2022		 £
110,979
Total 2020
£
8
Total 2020
£
17,709
Total 2020

9

Wyldwood Arts CIO Notes to the Financial Statements (continued) Period ended 31 March 2022

7 Expenditure on charitable activities by fund type

Unrestricted
Funds
Restricted
Funds
£
£
Charitable activities
-
134,514
Governance
-
2,932
-
137,446
8
Independent examination fees
Fees payable to the independent examiner for:
Independent examination of the financial statements
Other fees
9
Employment costs and defined contribution pension scheme
During the period the charity had 1 employee (2020 - £Nil).
The trustees of the charity are not remunerated for their services.
Salaries and wages
Pension costs (defined contribution scheme)
10
Debtors
Trade debtors
Accrued income and prepayments
Other debtors		 Total 2022
£
134,514
2,932
137,446
2022
£
240
2,692
2,932
2022
£
4,660
62
4,722
2022
£
-
4,155
1,419
5,574		 Total 2020
£
81,672
1,498
83,170
2020
£
570
927
1,497
2020
£
-
-
-
2020
£
4,535
-
-
4,535

10

Wyldwood Arts CIO Notes to the Financial Statements (continued) Period ended 31 March 2022

11 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Other creditors
12
Deferred income
At 1 January 2021
Amount released to income
Amount deferred in year
At 31 March 2022		 2022
£
524
31,977
26
32,527
2022
£
53,557
(50,590)
26,883
29,850		 2020
£
910
54,612
-
55,522
2020
£
39,495
(39,495)
53,557
53,557

13 Analysis of charitable funds

Unrestricted funds

General funds
Restricted funds
Restricted funds		 Income
Expenditure
£
£
£
£
7,000
23,002
-
30,002
Income
Expenditure
£
£
£
£
3,108
135,465
(137,745)
828
At 1 January
2021
At 31 March
2022
At 1 January
2021
At 31 March
2022

11

Wyldwood Arts CIO Notes to the Financial Statements (continued) Period ended 31 March 2022

14 Analysis of net assets between funds

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted|Total Funds|Total Funds| |Funds|Funds|2022|2020| |£|£|£|£| |Current assets|30,002|33,355|63,357|65,630| |Creditors less than 1 year|-|(32,527)|(32,527)|(55,522)| |Net assets|30,002|828|30,830|10,108|

----- End of picture text -----

15 Analysis of changes in net debt

----- Start of picture text -----
||||| |---|---|---|---| |At 1 Jan|At 31 Mar| |2021|Cash Flows|2022| |£|£|£| |Cash at bank and in hand|61,095|(3,312)|57,783|

----- End of picture text -----

12