## Keighley Creative
Charity number 1190497
## Annual Report and Financial Statements
for the period ended 31 July 2021
## Keighley Creative
Annual Report and Financial Statements for the period ended 31 July 2021
|**Contents**|**Page**|
|---|---|
|Trustees' report|2 to 4|
|Examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the accounts|8 to 11|
**Prepared by West Yorkshire Community Accounting Service**
1
## Keighley Creative
## Trustees' report for the period ended 31 July 2021
## **Reference and administrative details of the charity, its trustees and advisors**
The trustees during the financial period and up to and including the date the report was approved were: **Name Position Dates**
**Position Dates** Caroline Ward Chair Georgina Webster Vice Chair Charles Oxtoby Treasurer from August 2021 Appointed 3 June 2021 Bob Smith Appointed 3 June 2021 France-Leigh Hadrysiak Appointed 9 December 2020 Riaz Meer Fiona Sherburn Treasurer to July 2021 Appointed 8 July 2021 Stephen Manthrop Appointed 6 May 2021 Tam Mason Damian Kearns Appointed 28 August 2020 Naseem Darby Resigned 20 July 2020 Mary Garrett Resigned 20 July 2020 Gemma Hobbs Resigned 20 July 2020 Janet Smithies Resigned 20 July 2020 Appointed 30 July 2020 Peter Blagg Resigned 9 September 2021
**Charity number** 1190497 **Registered and principal address Bankers** Old Sunwin House Yorkshire Bank plc Hanover Street 73 North Street Keighley Keighley BD21 3QJ BD21 3SD
Registered in England and Wales
## **Independent examiner**
Rhys North ACA **West Yorkshire Community Accounting Service** Stringer House 34 Lupton Street Leeds LS10 2QW
## **Structure, governance and management**
The charity is a Charitable Incorporated Organisation (CIO) foundation. The CIO was converted from Keighley Creative Space CIC (Company Number 11982523) on 21 July 2020 and is governed by a constitution.
## **Method of recruitment and appointment of trustees**
The trustees of the charity are appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
2
## Keighley Creative
## Trustees' report (continued) for the period ended 31 July 2021
## **Objectives and activities**
## **The charity's objects**
To promote and advance the visual arts in all their forms in particular but not exclusively by:
- a) exhibiting works of artistic excellence
- b) providing gallery and studio space and other facilities to enable the public to engage with the arts and the public display of artwork
To advance the education of the public in the arts and crafts in particular but not exclusively by the provision of a community arts centre, a community library, workshops, classes and art sessions.
## **The charity's main activities**
Running a community arts centre hosting start-up artists’ studios, exhibitions, community arts engagement and events and activities in the building and in the town in various venues; arts education.
## **Public benefit statement**
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular both the promotion and advancement of the visual arts and the advancement of education in the arts and crafts.
## **Achievements and performance**
Became a Charity and established a skilled and committed Trustee Board.
Managed to keep everything going practically and financially during the pandemic crisis despite limitations on building use during lock-downs and major infection control measures that have and still need to be actioned.
Turnover and activity has significantly increased when compared to 2019/20.
Significantly increased our profile, including through the development of a new website, strengthened social media presence and widened the range and number of artists, community groups and wider partners we work with, and funders who back us.
Engaged a cultural business specialist to work with us, and key stakeholders, to produce our Five Year Cultural Development Business Plan.
Have had bids for a new building, and staff for the Keighley Arts and Film Festival accepted by the Keighley Towns Fund Board and subsequently by Government for around £2.5m confirmed. All of this work should start to progress in the coming financial year.
Delivered around specific 20 arts projects using a wide range of arts mediums and working with varied geographical and communities of common interest.
Held an on-line Keighley Arts and Film Festival in autumn 2020, and attracted funds for KAFF in October 2021.
3
## Keighley Creative
## Trustees' report (continued) for the period ended 31 July 2021
## **Financial review**
The net income for the year was £38,702, including net income of £22,071 on unrestricted funds and net income of £16,631 on restricted funds, after transfers.
## **Reserves policy**
The charity's free reserves, excluding fixed assets, at the year end were £25,098.
The trustees have determined that there should always be at least £3,000 held in unrestricted reserves to enable the CIO to deal with any sudden unexpected costs. It is recognised that the current level of reserves exceed this target. The reserves policy will be reviewed in 2021/2022 in light of the Keighley Towns Fund Board income as mentioned above.
At the time of signing these accounts the charity has been impacted by the global Covid-19 virus by having limited access to grants and by having limitations on the income generation potential of our building. The trustees have reassessed the charity’s ability to continue for at least 12 months from the date that the accounts are approved and conclude that no material uncertainties exist that cast significant doubt on the charity’s ability to continue as a going concern.
Signed on behalf of the board of trustees on 11/11/2021
Janet Smithies (Trustee)
4
## Keighley Creative
## Independent examiner's report to the trustees of Keighley Creative
I report to the charity trustees on my examination of the accounts of the CIO for the period ended 31 July 2021, which are set out on pages 6 to 11.
## **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 as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 in respect of the charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records; or
- 3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Rhys North ACA
23/11/2021
## **West Yorkshire Community Accounting Service**
Stringer House 34 Lupton Street Leeds LS10 2QW
5
## Keighley Creative
## Statement of Financial Activities
## (including summary income and expenditure account) for the period ended 31 July 2021
|Notes
1.6.2020 -
31.7.2021
2021
Unrestricted
funds
£
**Income from:**
Grants and donations
(2)
18,900
Studio fees
8,817
Fundraising
300
Art sales
549
Venue hire
75
Other income
-
**Total income**
28,641
**Expenditure on:**
Freelance fees
1,941
Events' costs
576
Project delivery costs
121
Caretaker
3,565
Repairs and maintenance
840
Professional fees
280
Office and postage costs
346
Telephone and IT
585
Utilities
3,864
Insurance
62
Website
96
Membership and subscription fees
50
Corporation tax
60
Other costs
-
**Total expenditure**
12,386
**Net income / (expenditure)**
16,255
**Transfers between funds**
5,816
**Net movement in funds**
22,071
**Fund balances brought forward**
3,027
**Fund balances carried forward**
(3)
25,098|1.6.2020 -
31.7.2021
2021
Restricted
funds
£
75,815
-
-
-
-
-
75,815
33,238
386
6,254
-
250
9,820
-
-
-
-
3,420
-
-
-
53,368
22,447
(5,816)
16,631
31,588
48,219|1.6.2020 -
31.7.2021
2021
Total
funds
£
94,715
8,817
300
549
75
-
104,456
35,179
962
6,375
3,565
1,090
10,100
346
585
3,864
62
3,516
50
60
-
65,754
38,702
-
38,702
34,615
73,317|Restated
2020
Total
funds
£
46,588
6,500
-
40
-
27,852
80,980
55,026
3,790
-
-
-
-
-
-
-
-
-
-
-
25,645
84,461
(3,481)
-
(3,481)
38,096
34,615|
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
6
## Keighley Creative
|Balance sheet
as at 31 July 2021
2021
Unrestricted
£
**Current assets**
Debtors and prepayments
(4)
311
Cash at bank
24,787
**Total current assets**
25,098
**Current liabilities:**
**amounts falling due within one year**
Creditors
-
**Total current liabilities**
-
**Net current assets / (liabilities)**
25,098
**Net assets**
25,098
**Funds**
Unrestricted funds
25,098
Restricted funds
-
**Total funds**
25,098|2021
Restricted
£
7,580
42,764
50,344
2,125
2,125
48,219
48,219
-
48,219
48,219|2021
Total
£
7,891
67,551
75,442
2,125
2,125
73,317
73,317
25,098
48,219
73,317|Restated
2020
Total
£
-
35,298
35,298
683
683
34,615
34,615
3,027
31,588
34,615|
|---|---|---|---|
The financial statements were approved by the board of trustees on 11/11/2021
Janet Smithies (Trustee)
7
## Keighley Creative
## Notes to the accounts
## for the period ended 31 July 2021
## **1 Accounting policies**
## **Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The previous year's accounts were not prepared in accordance with the Charities SORP. This resulted in unspent grants totalling £31,588 being treated as deferred income. The 2020 accounts have been restated to now include the deferred grant income as income in 2020 in order to be comparable to the figures for the year ended 31 July 2021.
## **Going concern**
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
## **Incoming resources**
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
## **Grants and donations**
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
## **Expenditure and liabilities**
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
## **Taxation**
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
8
## Keighley Creative
## Notes to the accounts continued
## for the period ended 31 July 2021
|**2 Grants and donations**
The Arts Council England
Bradford Metropolitan District Council (BMDC)
Bradford 2025
Leeds Community Foundation
National Lottery Community Fund
The Leap
Keighley College
Donations
**3 Restricted funds**
Balance b/f
£
ACE Covid Emergency Fund
21,588
BDMC Consultancy
10,000
BDMC Culture
-
BDMC LIT
-
BDMC Literacy
-
BDMC Project Manager
-
BDMC Summer Unlocked
-
BDMC Transformation Fund
-
BDMC Video Camera
-
Bradford 2025
-
Keighley BID
-
Keighley College
-
LCF Keighley Health
-
Leap - Mind the Gap 1
-
Leap - Mind the Gap 2
-
Lottery Awards for All
-
31,588|2021
Unrestricted
funds
£
-
18,000
-
-
-
-
-
900
18,900
Incoming
£
2,488
-
1,000
2,500
1,499
500
23,500
4,400
250
2,500
500
380
18,213
3,585
4,600
9,900
75,815|2021
Restricted
funds
£
2,399
32,649
2,500
18,213
9,900
8,185
380
1,589
75,815
Outgoing
£
20,697
8,000
1,000
830
1,499
-
2,000
3,200
-
-
441
378
3,749
2,858
4,466
4,250
53,368|2021
Total
funds
£
2,399
50,649
2,500
18,213
9,900
8,185
380
2,489
94,715
Transfers
£
(3,379)
(2,000)
-
-
-
-
-
-
-
-
(59)
-
(244)
-
(134)
-
(5,816)|2020
Total
funds
£
36,588
10,000
-
-
-
-
-
-
46,588
Balance c/f
£
-
-
-
1,670
-
500
21,500
1,200
250
2,500
-
2
14,220
727
-
5,650
48,219|
|---|---|---|---|---|
9
## Keighley Creative
## Notes to the accounts continued
## for the period ended 31 July 2021
## **3 Restricted funds continued**
**Fund name**
ACE Covid Emergency Fund
BDMC Consultancy
BDMC Culture BDMC LIT BDMC Literacy BDMC Project Manager BDMC Summer Unlocked BDMC Transformation Fund BDMC Video Camera Bradford 2025 Keighley BID Keighley College LCF Keighley Health
Leap - Mind the Gap 1 Leap - Mind the Gap 2 Lottery Awards for All
## **Purpose of restriction**
To support the CIO during the Covid-19 pandemic. The transfers are for an agreed contribution towards reduced studio fee income and core costs. To fund a Business Planning consultant. The transfer is for a contribution towards overhead costs.
To fund costs concerning the Culture is our Plan consultation. To support the Keighley stained glass windows project. To fund the Response 2 Literacy project. To support costs of a sessional project manager. To support the Ramp Revamp Mural project. To fund HR and Social Media support. To part fund a video camera.
To fund the Keighley Arts and Film Festival Mystical Beasts project. To support the Christmas Baubles project. To provide a graffiti arts course.
To support a dementia arts project. The transfer is for a contribution towards overhead costs.
To fund Reality - a young person's spoken word project. To fund a creative women and girls photography project. To support Keighley Arts and Film Festival 2021 coordinator and volunteer training costs.
|**Debtors and prepayments**
Debtors
Prepayments|2021
£
7,580
311
7,891|2020
£
-
-
-|
|---|---|---|
## **6 Debtors and prepayments**
## **7 Related party transactions**
## **Trustee expenses**
No trustee received any expenses during this period.
## **Trustee remuneration and benefits**
No trustee received any remuneration or benefit during this period.
## **Other transactions with trustees or related parties**
|**Other transactions with trustees or related parties**
Naseem Darby
**Name of trustee**
**or related party**
**Relationship to**
**charity**
**Description of transaction**
Wife of trustee
Peter Blagg
Freelance fees|2021
£
4,870
4,870|
|---|---|
10
## Keighley Creative
## Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the period ended 31 July 2021
|2021
2020
Unrestricted Unrestricted
funds
funds
£
£
**Income**
Grants and donations
18,900
-
Studio fees
8,817
6,500
Fundraising
300
-
Art sales
549
40
Venue hire
75
-
Other income
-
27,852
**Total income**
28,641
34,392
**Expenditure**
Freelance fees
1,941
40,026
Events' costs
576
3,790
Project delivery costs
121
-
Caretaker
3,565
-
Repairs and maintenance
840
-
Professional fees
280
-
Office and postage costs
346
-
Telephone and IT
585
-
Utilities
3,864
-
Insurance
62
-
Website
96
-
Membership and subscription fees
50
-
Corporation tax
60
-
Other costs
-
25,645
**Total expenditure**
12,386
69,461
**Net income / (expenditure)**
16,255
(35,069)
**Transfers between funds**
5,816
-
**Net movement in funds**
22,071
(35,069)
**Fund balances brought forward**
3,027
38,096
**Fund balances carried forward**
25,098
3,027|2021
Restricted
funds
£
75,815
-
-
-
-
-
75,815
33,238
386
6,254
-
250
9,820
-
-
-
-
3,420
-
-
-
53,368
22,447
(5,816)
16,631
31,588
48,219|2020
Restricted
funds
£
46,588
-
-
-
-
-
46,588
15,000
-
-
-
-
-
-
-
-
-
-
-
-
-
15,000
31,588
-
31,588
-
31,588|2021
Total
funds
£
94,715
8,817
300
549
75
-
104,456
35,179
962
6,375
3,565
1,090
10,100
346
585
3,864
62
3,516
50
60
-
65,754
38,702
-
38,702
34,615
73,317|2020
Total
funds
£
46,588
6,500
-
40
-
27,852
80,980
55,026
3,790
-
-
-
-
-
-
-
-
-
-
-
25,645
84,461
(3,481)
-
(3,481)
38,096
34,615|
|---|---|---|---|---|
11