OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Charity Registration Number: 1189046

Wyldwood Arts CIO Unaudited Financial Statements

31 March 2023

CURRENT ACCOUNTANCY LIMITED

14 Harrison Way Lydney Gloucestershire GL15 5BN

Wyldwood Arts CIO Financial Statements Year ended 31 March 2023

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) Year ended 31 March 2023

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 year ended 31 March 2023.

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 J C Moran (appointed 07 July 2022) Independent examiner Current Accountancy Ltd Strategic report

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

31/8/23

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

R Chapman Trustee

1

Wyldwood Arts CIO Independent Examiner's Report to the Trustees of Wyldwood Arts CIO Year ended 31 March 2023

I report to the trustees on my examination of the financial statements of Wyldwood Arts CIO ('the charity') for the year ended 31 March 2023.

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) Year ended 31 March 2023

----- Start of picture text -----
2023 2022
Unrestricted Restricted
Note Funds Funds Total Funds Total Funds
£ £ £ £
Income and endowments
Donations and legacies 4 12,170 75,042 87,212 158,465
Income from charitable activities 2,700 - 2,700 -
Investment income 5 144 - 144 2
Total income 15,014 75,042 90,056 158,467
Expenditure
Expenditure on raising funds 6 - - - 299
Expenditure on charitable activities 7 25,281 74,269 99,550 137,446
Total expenditure 25,281 74,269 99,550 137,745
Net income and net movement in funds (10,267) 773 (9,494) 20,722
Reconciliation of funds
Total funds brought forward 30,002 828 30,830 10,108
Transfers between funds 773 (773) - -
Total funds carried forward 20,508 828 21,336 30,830
----- 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 Year ended 31 March 2023

----- Start of picture text -----
Note 2023 2022
£ £
Current assets
Debtors 10 2,797 5,574
Cash at bank and in hand 88,073 57,783
90,870 63,357
Creditors: amounts falling due within one year 11 69,534 32,527
Net current assets 21,336 30,830
Total assets less current liabilities 21,336 30,830
Net assets 21,336 30,830
Funds of the charity
Restricted funds 828 828
Unrestricted funds 20,508 30,002
Total charity funds 14 21,336 30,830
----- End of picture text -----

For the year ending 31 March 2023 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 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 Year ended 31 March 2023

----- Start of picture text -----
2023 2022
£ £
Cash flows from operating activities
Net income / (expenditure) (9,494) 20,722
Adjustments for:
Other interest receivable and similar income (144) (2)
Movement in accrued expenses (1,354) 1,073
Changes in:
Trade and other debtors 2,777 (1,039)
Trade and other creditors 38,361 (24,068)
Cash generated from operations 30,146 (3,314)
Interest received 144 2
Net cash from operating activities 30,290 (3,312)
Net increase / (decrease) in cash and cash equivalents 30,290 (3,312)
Cash and cash equivalents at beginning of year 57,783 61,095
Cash and cash equivalents at end of year 88,073 57,783
----- 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 Year ended 31 March 2023

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) Year ended 31 March 2023

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) Year ended 31 March 2023

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.

8

Wyldwood Arts CIO Notes to the Financial Statements (continued) Year ended 31 March 2023

4 Donations and legacies

£
£
£
Grants
Arts Council England
9,791
9,791
Coleford Town Council
200
200
Create Gloucestershire
2,170
2,170
The National Lottery Community Fund
44,092
44,092
Gloucester Carers Legacy
4,902
4,902
Garfield Weston
10,000
10,000
Forest Voluntary Action Forum
60
60
Digital Innovation Fund
3,390
3,390
Ashley Family Foundation
9,750
9,750
Gloucester County Council
2,857
2,857
12,170
75,042
87,212
5
Investment income
Unrestricted
Funds
Restricted
Funds
Total 2023
£
£
£
Bank interest receivable
144
- 144
6
Costs of raising donations and legacies
Unrestricted
Funds
Restricted
Funds
Total 2023
£
£
£
Advertising and marketing costs
- - -
Unrestricted
Funds
Restricted
Funds
Total 2023		 £
158,465
Total 2022
£
2
Total 2022
£
299
Total 2022

9

Wyldwood Arts CIO Notes to the Financial Statements (continued) Year ended 31 March 2023

7 Expenditure on charitable activities by fund type

Charitable activities
Governance costs		 Unrestricted
Funds
Restricted
Funds
Total 2023
£
£
£
22,974
74,269 97,243
2,307
- 2,307
25,281
74,269
99,550		 Total 2022
£
134,514
2,932
137,446

8 Independent examination fees

Fees payable to the independent examiner for:
Independent examination of the financial statements
Other fees		 2023
£
240
2,067
2,307		 2022
£
240
2,692
2,932

9 Employment costs and defined contribution pension scheme

During the period the charity had 1 employee (2022 - 1).

The trustees of the charity are not remunerated for their services.

Salaries and wages
Pension costs (defined contribution scheme)
Statutory maternity pay reclaimed and NIC compensation
Debtors
Accrued income and prepayments
Other debtors		 2023
£
8,900
81
(439)
8,542
2023
£
1,111
1,686
2,797		 2022
£
4,660
62
-
4,722
2022
£
4,155
1,419
5,574

10 Debtors

10

Wyldwood Arts CIO Notes to the Financial Statements (continued) Year ended 31 March 2023

11 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Other creditors
12
Deferred income
At 1 April 2022
Amount released to income
Amount deferred in year
At 31 March 2023
13
Analysis of charitable funds		 2023
£
98
69,348
88
69,534
2023
£
29,850
(22,957)
61,681
68,574		 2022
£
524
31,977
26
32,527
2022
£
53,557
(50,590)
26,883
29,850
Unrestricted funds
General funds
Restricted funds
Restricted funds		 At 1 April
2022
Income
Expenditure
Transfers
At 31 March
2023
£
£
£
£
30,002
15,014
(25,281)
773
20,508
At 1 April
2022
Income
Expenditure
Transfers
At 31 March
2023
£
£
£
£
828
75,042
(74,269)
(773)
828

11

Wyldwood Arts CIO Notes to the Financial Statements (continued) Year ended 31 March 2023

14 Analysis of net assets between funds

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted|Total Funds|Total Funds| |Funds|Funds|2023|2022| |£|£|£|£| |Current assets|20,644|70,226|90,870|63,357| |Creditors less than 1 year|(136)|(69,398)|(69,534)|(32,527)| |Net assets|20,508|828|21,336|30,830|

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

15 Analysis of changes in net debt

----- Start of picture text -----
||||| |---|---|---|---| |At 1 April|At 31 March| |2022|Cash Flows|2023| |£|£|£| |Cash at bank and in hand|57,783|30,290|88,073|

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

12

Trustees’ Annual Report for the period

From: 01 April 2022 To: 31 March 2023

Charity name: Wyldwood Arts

Charity registration number: 1189046

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 in the Forest of Dean,
Gloucestershire.
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 April 2022-March 2023
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 In spring 2022 we phased out our remote
working projects with the final issue of our
pandemic response magazine The Meeting Post
and began to really connect again in person
with 2 new projects, a 3 year National Lottery
Community Fund ‘Reaching Communities’
Project and a shorter term project ‘The
Meeting Place’ offering taster arts sessions as a
gentle way to re-engage with society post-
restrictions.
Our Reaching Communities work began in
earnest with a pop-up community consultation
and light touch arts & crafts activities at
multiple summer events.
Our first hands on Reaching Communities
project took place with ‘Cinderford Grows’ a
volunteer gardening group helping them to
secure and clear an orchard site.
A previously unspent Arts Council grant that we
had been unable to fulfil during the pandemic
restrictions was completed with a sharing of a
scratch performance of The Farmer & The
Clown, adapted from a wordles picture book of
the same title by American author Marla
Frazee. The performance was shared at
Clearwell School, Lydbrook Memorial Hall and
in St Briavels with a newly formed Ukrainian
community of refugees.
We delivered 12 Creative Wellbeing sessions
with carers and their families at Birds Pottery
with funding from the Gloucestershire Carers
Legacy and secured funding from
Gloucestershire County Council to create The
Meeting Post Online-a web based version of
our magazine for care homes.
We kicked off the autumn with a return to our
intergenerational roots, piloting a Forest School
inspired project with Sydenham House care
home and Blakeney primary School. The
children and residents got to know each other
in the outdoor with Forest School style
exercises, crafts and conversations starters.
We connected with CANDI Youth space to
deliver 6 weeks for drama sessions for young
people in Cinderford and hosted a cross sector
consultation evening for our colleagues from a
range of VCS organisations serving the local
area.
The first weekend of December saw us working
with Cinderford Grows to plant new fruit trees
secured through a council grant at their
orchard site. We have plans in progress to
continue workingwith thegroupand use the

site as a community venue for future arts & culture projects. Later in December we received news of a successful application to Arts Council England to widen access to Arts & Culture in the Forest of Dean through a Community Ensemble project and support for our new What’s On website. In the final quarter, we continued our work with CANDI youth space, helped ‘Eye Know Productions’ community theatre group create props and set for their show ‘KNOW a THING or 7’ from recycled materials, and supported 2 Warm Space initiatives with a Pudding Club at Sheppard House in Newent and a Coffee & Cake morning in Ruardean. We’ve built and launched a new What’s On website for the Forest of Dean www.whatsonfod.co.uk , built and launched the Meeting Post Online website, developed our Community Ensemble project and worked together as a team to refine our Mission, Vision & Values.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41 We have successfully emerged from the
pandemic restrictions with our finances intact,
secured funding in place and a range of
community activities for people to get involved
in that suit a range of needs.
Performance of fundraising
activities against objectives set		 Para 1.41 The Reaching Communities grant is for £180k
over 3 years (April 2022-March 2025) and will
enable us for the first time to have a long-term
strategic programme of work in place with core
support included.
Arts Council England funding secured in later
2022 further supports the core and
development of a community theatre initiative
that feeds into our NLCF work.
Further funds from Gloucestershire County
Council supports our remote offer for Care
Homes and £10k from Garfield Weston is
dedicated core funding.
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 Accounts for 22-23 are presented on an
accruals basis.
Total income in the reporting period was:
£ 90,056
Total expenditure in the reporting period was:
£ 99,550
Total reserves carried into the reporting period
were: £ 30,830
Unrestricted Reserves at the end of the
reporting period are: £ 20,508
Restricted funds carried forward into the next
financialyear are: £ 828
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 Our Reserves policy for 2022-23 was follows:
Unrestricted reserves @ 31 March 2022
£30002
Basic Reserves
12 weeks core running costs (senior
management & overheads) @ £900/week =
£10,800
Emergency Fund
3% of annual income (FY 21-22 £158,476) =
£4754
Total Reserves held during FY 23-24 =£15554
The remainder of£11,984was allocated to
support the core for FY 22-23 and£9,494spent
Amount of reserves held Para 1.22 @31 March 2023 £ 21,336
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 22/23:
The National Lottery Community Foundation
Gloucestershire County Council
Arts Council England
Garfield Weston
Gloucestershire Carers Legacy
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 and as it is not possible to fully fund our core costs and overheads via full cost recovery from project funds there remain an annual fundraising target which must be met to ensure the charity’s continuation. External factors including the cost of living and energy crisis have seen our overheads increase and an emerging hostility in attitude towards the arts as 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

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
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		 Safeguarding 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 n/a in this capacity Name and objects of the n/a charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for n/a 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) Becky (Rebecca) Chapman Position (eg Secretary, Chair, etc) Chair

Date 31/8/23