REGISTERED COMPANY NUMBER: 12293124 (England and Wales) REGISTERED CHARITY NUMBER: 1192615
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
FOR DIRECT ART ACTION (UK) LIMITED
Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
DIRECT ART ACTION (UK) LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
| 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 | 8 |
DIRECT ART ACTION (UK) LIMITED (REGISTERED NUMBER: 12293124)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's Objects being aimed at the residents of Birmingham and beyond are specifically restricted to the following:
To advance, educate and promote the arts for the public benefit, by providing the display of artists work at public exhibitions;
To advance the education of arts for the public benefit through the provision of workshops at public galleries;
To support, the advancement and enjoyment of the arts, making it accessible to people of low sociol-economic background and those with mental and physical disabilities.
The Charity will achieve its Objects using the public galleries by scheduling workshops making it accessible to the general public and being open to the public for viewings during opening times. The Charity will also use a website and social media platforms to advertise its opening times and benefits available.
Public benefit
The charity provides public benefit through the production of a contemporary community gallery with free classes for adults and children weekly. An inclusive artistic environment has been created for the enrichment of the its beneficiaries, including community and contemporary exhibitions, workshop and study space for humanities, an art library, networking and social space for beneficiaries interested in art and humanities. The charity has aided in regeneration for town centre spaces through the use of disused property.
FINANCIAL REVIEW
Financial position
Income for the period is heavily donation dependent, at £36,316 (2022 - £29,434). Expenditure during the year is £23,661 (2022 - £27,918). With reserves brought forward of £1,916 the charity has reserves of £14,571 as at the year end.
Reserves policy
Reserves can be used in case of short term cash deficits when expecting a funding grant to arrive, or to fund a designated project that fulfils objects.
The trustees have considered a level of £2,000 unrestricted reserves to be appropriate. Current unrestricted reserves stand at £14,571, which is well above the considered level.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
FUTURE PLANS
Direct Art Action will continue to support public understanding and education through the arts and humanities through access to artists and art spaces that appear in town centres in the West Midlands. Workshops and drop in events will continue to be held in our temporary spaces in town centres for the public to access and participate in. Further emphasis will be developed into artist demonstration of work and the participation of the public into educational programs.
-1-
DIRECT ART ACTION (UK) LIMITED (REGISTERED NUMBER: 12293124)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
12293124 (England and Wales)
Registered Charity number
1192615
Registered office
14-20 The Parade The Gracechurch Centre Sutton Coldfield West Midlands B72 1PA
Trustees
G Lawley A P W Spencer Ms J H Skidmore
Independent Examiner
Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
Approved by order of the board of trustees on 20 September 2024 and signed on its behalf by:
G Lawley - Trustee
-2-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DIRECT ART ACTION (UK) LIMITED
Independent examiner's report to the trustees of Direct Art Action (UK) Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 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.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Mr R Smallwood FCCA
Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT
20 September 2024
-3-
DIRECT ART ACTION (UK) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 36,316 Other trading activities 2 - Total 36,316 EXPENDITURE ON Raising funds - Other 23,661 Total 23,661 NET INCOME 12,655 RECONCILIATION OF FUNDS Total funds brought forward 1,916 TOTAL FUNDS CARRIED FORWARD 14,571 |
2022 Total funds £ 29,434 400 |
|---|---|
| 29,834 | |
| 175 27,743 |
|
| 27,918 | |
| 1,916 - |
|
| 1,916 |
The notes form part of these financial statements
-4-
DIRECT ART ACTION (UK) LIMITED (REGISTERED NUMBER: 12293124)
BALANCE SHEET 30 NOVEMBER 2023
| 2023 Unrestricted fund Notes £ CURRENT ASSETS Debtors 5 25,773 Cash at bank 258 26,031 CREDITORS Amounts falling due within one year 6 (11,460) NET CURRENT ASSETS 14,571 TOTAL ASSETS LESS CURRENT LIABILITIES 14,571 NET ASSETS 14,571 FUNDS 7 Unrestricted funds 14,571 TOTAL FUNDS 14,571 |
2022 Total funds £ - 8,325 8,325 (6,409) 1,916 1,916 1,916 1,916 1,916 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20 September 2024 and were signed on its behalf by:
G Lawley - Trustee
The notes form part of these financial statements
-5-
DIRECT ART ACTION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Taxation
The charity is exempt from corporation 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. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Art Classes | - | 400 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022.
continued...
-6-
DIRECT ART ACTION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 29,434 | |||
| Other trading activities | 400 | |||
| Total | 29,834 | |||
| EXPENDITURE ON | ||||
| Raising funds | 175 | |||
| Other | 27,743 | |||
| Total | 27,918 | |||
| NET INCOME | 1,916 | |||
| TOTAL FUNDS CARRIED FORWARD | 1,916 | |||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Other debtors | 25,773 | - | ||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Trade creditors | 9,080 | 1,138 | ||
| Accruals and deferred income | 2,380 | 5,271 | ||
| 11,460 | 6,409 | |||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| At | movement | At | ||
| 1/12/22 | in funds | 30/11/23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 1,916 | 12,655 | 14,571 | |
| TOTAL FUNDS | 1,916 | 12,655 | 14,571 |
continued...
-7-
DIRECT ART ACTION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 36,316 | (23,661) | 12,655 |
| TOTAL FUNDS | 36,316 | (23,661) | 12,655 |
| Comparatives for movement in funds | |||
| Net | |||
| At | movement | At | |
| 1/12/21 | in funds | 30/11/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | - | 1,916 | 1,916 |
| TOTAL FUNDS | - | 1,916 | 1,916 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 29,834 | (27,918) | 1,916 |
| TOTAL FUNDS | 29,834 | (27,918) | 1,916 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2023.
-8-
Virtual Cabinet Portal Digital Signatures
Digital Signature Verification
You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page:
https://www.virtualcabinetportal.com/VerifySignedDocument
Signature Dates and Times
All dates and times shown in the signatures below are expressed in Coordinated Universal Time (UTC), which is generally equivalent to GMT. You can find out more about UTC at the following web page:
http://www.virtualcabinetportal.com/WhatIsUTC
Signature 1
Signed by Gavin Lawley using authentication code LHZeNyxeUC4pdDxN at IP address 176.154.185.83, on 2024/09/23 16:03:07 Z.
Gavin Lawley's e-mail address is: gavlawley@gmail.com.