29[th] April 2024
Trustee Report for British Contemporary Silversmiths Charity
The British Contemporary Silversmiths Charity is pleased to report that it is currently in a solvent position, with no breaches of policies recorded. The charity has diligently carried out its role in a legally compliant manner, ensuring that all activities are conducted in accordance with the relevant laws and regulations governing charitable organizations.
Financially, the charity has maintained a stable financial position, responsibly managing its resources to support its mission and activities. Through careful budgeting and oversight, the charity has been able to continue its vital work in promoting and supporting contemporary silversmiths across the UK.
In terms of governance, the trustees have remained committed to upholding high standards of transparency, accountability, and integrity in all aspects of the charity's operations. Regular meetings have been held to review progress, make strategic decisions, and ensure that the charity remains focused on its core objectives.
Looking ahead, the British Contemporary Silversmiths Charity is dedicated to furthering its mission and impact in the silversmithing community. We remain grateful for the support of our donors, partners, and stakeholders who have helped us reach this point of success.
Ashley Pover Chairman of Board of Trustees
## **THE CONTEMPORARY BRITISH SILVERSMITHS CHARITY**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[TH] JUNE 2023**
**Charity Number: 1194900**
Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## **Overview**
The Contemporary British Silversmiths Charity is a Charitable incorporated organisation (CIO) with registered charity number 1194900 and company number CE025972. Its objects are to focus on encouraging and improving the craft and preserving the artistry of silversmithing. For the purposes of the Charity silversmithing is defined as the creation of wrought articles, typically in silver or its allied materials, not generally to be worn on the body. The CIO runs professional development and training courses in connection with silversmithing.
## **Trustees**
Ashley Peter Pover (Chair)
Christopher Knight
Rajesh Kumar Gogna
John O’Loughlin – Appointed 19[th] October 2022
Joanne Fleming – Appointed 19[th] December 2022
Louise Newton – Appointed 1 June 2023
## **Risk management policy**
The trustees, considered the risks to which the charity faces over the forthcoming year and has taken appropriate steps where possible to mitigate these risks. Where risks cannot be mitigated the trustees have sought to reduce these where possible
## **Activities, achievements, and public benefit**
The funds raised by the charity have been utilised to provide professional development and training courses in connection with silversmithing. This has directly encouraged the preservation of the artistry of silversmithing.
Courses were held both in person and online, and being the first full year of the charities operation significant work has been carried out on governance and appointment of new trustees.
The trustees have considered the Charity Commission general guidance on public benefit when planning future activities and how planned activities will contribute to the aims and objectives they have set.
## **Review of financial results**
For the year ended 30[th] June 2023, total recognised income was £23,133, noting that by year end an additional £19,667 had been received for grants relating to future periods. At the end of the year total reserves stood at £9,508.
Approved by the Trustees on XX August 2023
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Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## Ashley Pover (Chairman)
## **Independent Examiners report to the Trustees**
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 30 June 2023.
## **Responsibilities and basis of report**
As the charity's trustees, 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 Trust’s accounts carried out under section 145 of the 2011 Act and 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 examiners Statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
• the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
• 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 this report in order to enable a proper understanding of the accounts to be reached.
## **Independent examiner – James Hallett ACA**
**Dated:** 7/4/2024 | 14:10 BST
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Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## **Statement of Financial Activities – Year ended 30[th] June 2023**
|**Recommended categories by activity**
**Income (Note 3)**
**Income and endowments from:**
Grants and donations
Charitable activities
**_Total_**
**Expenditure (Note 4)**
**Expenditure on:**
Charitable activities
Support costs
**_Total_**
**Net income before tax for the reporting**
**period**
Tax payable
**Net income after tax before investment**
**gains/(losses)**
Net gains/(losses) on
investments
**Net income**
**Extraordinary items**
**Transfers between funds**
**Other recognised** **gains/(losses):**
Gains and losses on revaluation of fixed
assets for the charity’s own use
Other gains/(losses)
**_Net movement in funds_**
**_Reconciliation of_**
**_funds:_**
Total funds brought forward
**_Total funds carried forward_**|**Unrestricted**
**funds**
**£**|
**Restricted**
**income**
**funds**
**£**|**Total**
**funds**
**£**|**Prior year**
**funds**
**£**|
|---|---|---|---|---|
||5,150|23,133|28,283|31,667|
||4,952|-|4,952|530|
||10,102|23,133|33,235|32,197|
||||||
||-|20,767|20,767|12,093|
||-|11,221|11,221|11,843|
||-|31,988|31,988|23,936|
||||||
||10,102|(8,855)|1,247|8,262|
||-|-|-|-|
||10,102|(8,855)|1,247|8,262|
||-|-|-|-|
||10,102|(8,855)|1,247|8,262|
||-|-|-||
||(6,123)|6,123|-|-|
||||||
||-|-|-|-|
||-|-|-|-|
||3,978|(2,732)|1,247|8,262|
||||||
||5,530|2,732|8,262|-|
||9,508|-|9,508|8,262|
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Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## **Balance sheet – as at 30[th] June 2023**
|**Current assets**
**Debtors (Note 7)**
**Cash**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 8)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Restricted income funds (Note 10)**
**Unrestricted funds (Note 10)**
**_Total funds_**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**£**
**£**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**£**
**£**|**Total this**
**year**
**Total last**
**year**
**£**
**£**|**Total this**
**year**
**Total last**
**year**
**£**
**£**|
|---|---|---|---|---|
||-|-|-|34,661|
||9,508|19,667|29,175|-|
||9,508|19,667|29,175|34,661|
||||||
||-|19,667|19,667|26,399|
||||||
||9,508|-|9,508|8,262|
||||||
||9,508|-|9,508|8,262|
||||||
||9,508|-|9,508|8,262|
||||||
|||-|-|2,732|
||9,508|-|9,508|5,530|
||9,508|-|9,508|8,262|
Signed by on behalf of all the trustees:
7/4/2024 | 14:10 BST
Ashley Pover
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Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## **Notes to the financial statements**
## **Note 1 – Basis of Preparation**
## **1.1 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 accounts 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) issued on 16 July 2014.
## **1.2 Going Concern**
The accounts have been prepared on a going concern basis. The trustees are not aware of any material uncertainties that make the going concern assumption doubtful as at the date of signature.
## **Note 2 – Accounting policies**
## **2.1 Recognition of income**
These 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;
- the monetary value can be measured with sufficient reliability.
## **2.2 Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP.
## **2.3 Grants and Donations**
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
## **2.4 Government grants**
The charity received no government grants in the year.
## **2.5 Tax reclaims on donations and gifts**
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
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Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## **2.6 Support costs**
The charity has incurred expenditure on support costs.
## **2.7 Liability recognition**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## **2.8 Redundancy costs**
The charity made no redundancy payments during the reporting period.
## **2.9 Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
## **2.10 Basic financial instruments**
The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.
## **2.11 Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
## **Note 3 – Income**
|**Analysis of income**
**Donations**
**and legacies:**
General grants provided by
other charities and
organisations
Interestreceived
**Total**
**Charitable**
**activities:**
Coursefees
**Total**
**TOTAL INCOME**|**Analysis of income**|**Unrestricted**
**funds**|**Restricted**
**income**
**funds**|**Total**
**funds**
**£**|**Prior**
**year**
**£**|
|---|---|---|---|---|---|
||General grants provided by
other charities and
organisations|5,150|23,133|28,317|31,667|
||Interestreceived|34|-|-|-|
||**Total**|5,184|23,133|28,317|31,667|
|||||||
|||-|-|-|-|
||Coursefees|4,918|-|4,918|530|
||**Total**|4,918|-|4,918|530|
|||||||
|||10,102|23,133|33,235|32,197|
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Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## **Note 4 – Expenditure**
|**Analysis**
**Expenditure on charitable**
**activities: **|**Unrestricted**
**funds**
**£**|**This Year**
**Restricted**
**income**
**funds**
**£**|**Total**
**funds**
**£**|**Unrestricted**
**funds**
**£**|**Last Year**
**Restricted**
**income**
**funds**
**£**|**Total**
**funds**
**£**|
|---|---|---|---|---|---|---|
|Course trainers|-|17,170|17,170|-|7,024|7,024|
|Course workshop space|-|637|627|-|3,650|3,650|
|Course materials|-|2,970|2,970|-|1,419|1,419|
|**Total expenditure on**
**charitable activities**|-|20,767|20,767|-|12,093|12,093|
|**Expenditure on support activities:**|||||||
||||||||
|Support staff|-|10,918|10,918|-|10,625|10,625|
|Bookkeeping|-|304|304|-|779|779|
|Insurance|-|-|-|-|439|439|
|**Total expenditure on**
**support activities**|-|11,221|11,221|-|11,843|11,843|
|**TOTAL EXPENDITURE**|-|31,988|31,988|-|23,936|23,936|
As the charities sole activity during the year was provision of training courses, 100% of the support costs have been allocated to this activity.
## **Analysis of expenditure on charitable activities**
|||**This year**|**This year**||
|---|---|---|---|---|
|**Activity or programme**|**Activities**
**undertaken**
**directly**|**Grant**
**funding of**
**activities**|**Support**
**Costs**|**Total this**
**year**|
||**£**|**£**|**£**|**£**|
|Provision of training courses|20,767|-|11,221|31,988|
|**Total **|20,767|-|11,221|31,988|
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Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## **Note 5 – Expenses paid to Trustees and Independent examiner**
No trustees were paid expenses during the year. The independent examiner was paid a total £nil.
## **Note 6 – Salaries and Wages**
Salaries and wages Social security costs Other employee benefits **Total staff costs**
|**This year**
**£**|**Last year**
**£**|
|---|---|
|28,088|
17,649|
|-|-|
|-|-|
|28,088|17,649|
No employee or consultant of the charity received remuneration in excess of £60,000 during the year.
The average headcount during the year was 2, employed on a consultancy basis and both were involved in the provision of courses and associated support.
## **Note 7 – Debtors**
|Trade debtors
Prepayments and accrued income
Other debtors
**Total**|**This year**
**£**|**Last year**
**£**|
|---|---|---|
||-|-|
||-|-|
||-|34,683|
||-|
34,683|
The full amount owed by a related party in the prior year was transferred to the charity during the year.
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## Contemporary British Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2023
## **Note 8 – Creditors**
|**Note 8 – Creditors**|||||
|---|---|---|---|---|
|Trade creditors
Payments received on account for
grants
**Total**|**Amounts falling due within**
**one year**||**Amounts falling due after**
**more than one year**||
||**This year**
**£**|**Last year**
**£**|**This year**
**£**|**Last year**
**£**|
||-|3,289|-|
-|
||19,667|23,133|
-|-|
||19,667|
26,422|
-|
-|
Included in creditors is an amount for funds received for grants for periods which are yet to start. As such these have not been included in the Statement of Financial Activities.
## **Note 9 – Events after the reporting period**
There were no events after the reporting period which required an adjustment in these accounts
## **Note 10 – Restricted funds**
Restricted funds represent grants received for the provision of training and professional development courses.
Unrestricted funds represent donations received without restrictions.
## **Note 11 – Transactions with trustees and related parties**
There were no payments made to trustees during the year.
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Contemporary British Silversmiths Charity Persistence Works 21 Brown Street Sheffield S1 2BS
## Dear James
This representation letter is provided in connection with your independent examination of the financial statements of the charity for the year ended 30 June 2023 for the purpose of expressing an opinion as to whether the financial statements are presented fairly, in all material aspects, (or give a true and fair view) in accordance with Charities Act 2011.
We confirm that the following representations are made on the basis of enquiries of the trustees, management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you:
1. We have fulfilled our responsibilities as trustees Charities Act 2011 for preparing financial statements, in accordance with the applicable financial reporting framework the FRS 102 Charity SORP.
We confirm that in our opinion the financial statements give a true and fair view and in particular that where any additional information must be disclosed in order to give a true and fair view that information has in fact been disclosed. We confirm that the selection and application of the accounting policies used in the preparation of the financial statements are appropriate, and we approve these accounts for the year ended 30 June 2023
2. We confirm that all accounting records have been made available to you for the purpose of your independent examination, in accordance with your terms of engagement, and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management, trustees’ and members’ meetings, have been made available to you. We have given you unrestricted access to persons within the charity in order to obtain evidence and have provided any additional information that you have requested for the purposes of your independent examination.
3. We acknowledge that it is a criminal offence to make a false statement in this regard, and where any director either makes a false statement; is aware that the statement is false; is reckless in preventing this statement; or fails to take reasonable steps to prevent the directors’ report from being approved, we acknowledge that each director will be guilty of a criminal offence.
4. We confirm the charity has satisfactory title to all assets and there are no liens or encumbrances on the assets, except for those disclosed in the financial statements.
5. We confirm that the methods, significant assumptions and data used by us in making accounting estimates, and the related disclosures, are appropriate to achieve recognition, measurement or disclosure that is in accordance with the applicable financial reporting framework.
6. We confirm that we have no plans or intentions that may materially alter the carrying value or classification of assets and liabilities reflected in the financial statements.
7. We confirm that the charity has no liabilities or contingent liabilities other than those disclosed in the financial statements.
8. We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to you and accounted for and disclosed in accordance with th.
9. We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
10. We confirm that we are aware of the definition of a related party for the purpose of the accounting framework being applied in the preparation of the accounts.
We confirm that there have been no material transactions with related parties.
11. We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the applicable financial reporting framework.
12. We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
13. We confirm that the charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of noncompliance.
14. We confirm that we are not aware of any possible or actual instance of noncompliance with those laws and regulations which provide a legal framework within which the charity conducts its activities and which are central to the charity’s ability to conduct its activities except as explained to you and as disclosed in the financial statements.
15. We acknowledge our responsibility for the design, implementation and maintenance of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our risk assessment of the risk of fraud in the organisation.
There have been no deficiencies in internal control of which we are aware.
16. We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by trustees, former trustees, analysts, employees, former employees, regulators or others.
17. We confirm that, in our opinion, the charity’s financial statements should be prepared on the going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. In reaching this conclusion, we have taken into account all relevant matters of which we are aware, and have considered a period of at least one year from the date on which the financial statements were approved.
18. We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
19. We acknowledge our legal responsibilities regarding disclosure of information to you as independent examiner and confirm that:
- so far as each trustee is aware, there is no relevant information of which you as independent examiner are unaware; and
each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant independent examination information and to establish that you are aware of that information.
Yours faithfully, ...............................................................
Signed on behalf of the board of trustees
Ashley Pover Trustee............................................................... 7/4/2024 | 14:10 BST Date..................................................................