2022-03-31-accounts - Sandy Hill Studios Trust CIO

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Charity Number: 1193387

SANDY HILL STUDIOS TRUST CIO

TRADING AS SANDY HILL ARTS

TRUSTEES REPORT AND FINANCIAL STATEMENTS PERIOD ENDED 31 MARCH 2022

SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

CHARITY INFORMATION

Trustees	M Viney (appointed 3 February 2021)
	S E Western (appointed 22 April 2022)
	S H Lansbury (appointed 22 April 2022)
	F Pollard (appointed 28 February 2021)
	D R R Sutcliffe (appointed 3 February 2021)
	R Jeffery (appointed 3 February 2021)
	P Geraghty (appointed 3 February 2021)
	P Angel (appointed 3 February 2021resigned 15 January 2023)
	P Handy (appointed3 February 2021resigned 11 January 2022)
	J Winsor (appointed3 February 2021resigned 10 February 2021)
	E C Ormond (appointed3 February 2021)
Charity number	1193387
Trading Name	Sandy Hill Art
Address	Sandy Hill Studios
	Sandy Hill Lane
	Corfe Castle
	Dorset
	BH20 5JF
Independent Examiner	Christina Moncur FCCA DChA
	Canopy Accounting
	4 Alexandra Mews
	70 Langdon Road
	Poole
	BH14 9EA

SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

CONTENT

	Page
Report of the Trustees	1
Independentexaminer'sreport	4
Statementoffinancial activities	5
Balance sheet	6
Notes to thefinancialstatements	7

SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

REPORT OF THE TRUSTEES

FOR THE PERIOD ENDED 31 MARCH 2022

The trustees present their report and the financial statements of the charity for the period ended 31 March 2022.

Principal Activity

The principal activity of Sandy Hill Arts encourages the public to enjoy the creative arts in Purbeck, especially visual arts and crafts. We will promote participation in the arts through exhibitions of new work, events, performance and education, as well as working with community groups and schools. We want the natural setting of the site to be a new visitor attraction in Purbeck.

In all its activities the Trustees have due regard to the Charity Commission’s guidance on public benefit.

Activities and Future Plans

Since incorporation Sandy Hill Arts has produced a new website for general promotion, to promote events and education and sell tickets and book courses.

Our Social Media presence is regularly updated to archive and evidence activity, engage with our community and to promote new activity.

We have a team of 15 plus volunteers who help at events with photography, bar work, setting up lighting and infrastructure, managing bookings and front of house.

We have consolidated the Board of Trustees through new trustees to represent a better gender and interest balance. This is an ongoing and a skills audit is planned.

We ran a mini festival in conjunction with a local environmental charity which was successful and a good start to letting the public know about us. We also gained important experience in running ticketed events managing a busy site and running a bar.

We have converted two unused studios into a modest combined classroom and education space.

We plan to continue running ticketed events for our community, along with providing studio space for local artists. We also plan to start holding exhibitions of local artists and local schools.

We are also planning art courses to utilise our new teaching space.

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SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2022

FINANCIAL REVIEW

During the year under review the unrestricted funds had a balance of £12,755 at the year end.

RESERVES POLICY

The Trust’s Reserves policies are:

a. that liquid assets should be maintained sufficient to meet three months’ forward operational expenditure.
b. capital expenditure commitments are permitted only against agreed lines of funding available for immediate drawdown.

TRUSTEES

The Trustees who served throughout the period and at the date of this report are as follows: M Viney (appointed 3 February 2021)

S E Western (appointed 22 April 2022)

S H Lansbury (appointed 22 April 2022) F Pollard (appointed 28 February 2021)

D R R Sutcliffe (appointed 3 February 2021) R Jeffery (appointed 3 February 2021) P Geraghty (appointed 3 February 2021) P Angel (appointed 3 February 2021resigned 15 January 2023) P Handy (appointed 3 February 2021 resigned 11 January 2022) E C Ormond (appointed 3 February 2021)

LEGAL AND ADMINISTRATION DETAILS

The official name of the Charity is Sandy Hill Studios Trust. The Charity received its charitable incorporated organisation registration on 3 February 2021, charity number 1193387.

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SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2022

Statement of Trustees' Responsibilities

The trustee is responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales require the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustee are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed by order of the Trustees

R Jeffery 24 January 2023

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SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES

FOR THE PERIOD ENDED 31 MARCH 2022

I report on the accounts of Sandy Hill Studios Trust CIO (charity number 1193387) for the period ended 31 March 2022, which are set out on pages 9 to 19.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act, and
to state whether particular matters have come to my attention

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

I have completed my examination. In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records
the accounts did 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 order to enable a proper understanding of the accounts to be reached.

Christina Moncur FCCA DChA

24 January 2023

Canopy Accounting

4 Alexandra Mews, 70 Langdon Road Poole, BH14 9EA

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SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2022

Income Donations and grants Income from charitable activities Other income Total income Expenditure Raising funds Charitable Activities Total expenditure Net income/ (expenditure) Transfer between funds Net movement in funds Balance carried forward 31 March 2022	Period ended 31 March 2022 £ 15,000
	15,000 - -
	15,000
	15 2,230
	2,245

	12,755
	-
	12,755
	12,755

All recognised gains and losses during the year are included in the Statement of Financial Activities. All the activities of the charity are classed as continuing.

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SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

BALANCE SHEET FOR THE PERIOD ENDED 31 MARCH 2022

2022 Unrestricted Funds £ Fixed assets Buildings - Current assets Debtors - Cash at bank 14,540 14,540 Current liabilities Creditors: amounts falling due within one year: 1,785 Net current assets 12,755 Net assets 12,755 Represented by: Restricted Funds Unrestricted Funds 12,755 Total funds 12,755 On behalf of the Board of Trustees …………………………………………………….. R Jeffery 24 January 2023

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SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2022

1 Accounting policies

1.1 Basis of the preparation of accounts

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Charity Commission Statement of Recommended Practice - 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 (second edition).

The Trustees confirm that the Charity is a public benefit entity as defined by FRS 102.

At the time of approving the financial statements and after considering the ongoing COVID-19 pandemic, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees have adopted the going concern basis of accounting in preparing the financial statements.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Fund accounting

1.2.1 Unrestricted Funds These funds can be used for any of the charity's purposes. 1.2.2 Restricted Funds These funds have been given to the Trust for a particular purpose to be used in accordance with the wishes of the donor.

1.3 Depreciation The policy is that assets are capitalised that cost over £1,000 and have an ongoing value in use to the charity.

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SANDY HILL STUDIOS TRUST CIO TRADING AS SANDY HILL ARTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2022

1.4 Income Donations, gifts, legacies and similar incoming resources are accounted for when receivable, which is when the Charity becomes entitled to the resource. Deferred income represents accounts received for future periods and is released to incoming resources in the period for which it is received. Gift Aid reclaimable on donations to the Charity is included with the amounts received. Investment income, represented by bank interest is credited to the Statement of Financial Activities on a receivable basis.

1.5 Expenditure All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for the expenditure. The direct costs have been allocated as described below. The indirect costs have been allocated as described in note 6. Charitable activities: comprise of those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs: costs incurred in the governance of the Trust and associated constitutional and statutory requirements. These costs are allocated to charitable activities. Raising funds: costs incurred in raising income for the charity. Irrecoverable VAT is charged to the Statement of Financial Activities as incurred. 1.6 Financial Instruments The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised initially in the accounts at transaction price, including any transaction costs. At the end of each accounting period, basic financial instruments are recognised at amortised cost. For debt instruments this is calculated using the effective interest rate method. 1.7 Critical estimate and judgements and key sources of estimation uncertainty In the application of the Charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision effects both current and future periods.

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