2024-06-30-accounts - Contemporary British Silversmiths Charity

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THE CONTEMPORARY BRITISH SILVERSMITHS CHARITY

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[TH] JUNE 2024

Charity Number: 1194900

Contemporary Bri�sh Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2024

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

John O’Loughlin

Joanne Fleming

Louise Newton

James Dougall (Appointed 25[th] July 2023)

Nichole Wood (Appointed 24[th] August 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 2024, total recognised income was £19,667, noting that by year end an additional £10,000 had been received for grants relating to future periods. At the end of the year total reserves stood at £27,271.

Approved by the Trustees on 29 April 2025.

Contemporary Bri�sh Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2024

Statement of Financial Activities – Year ended 30[th] June 2024

Unrestricted funds Restricted income funds £ £	Unrestricted funds Restricted income funds £ £	Total funds Prior year funds £ £	Total funds Prior year funds £ £
5,000 14,667		19,667 28,283
1,983 -		1,983 4,952
6.893 14,667		21,650 33,235

- 2,231		2,231 20,767
- 1,666		1,666 11,221
- 3,897		3,897 31,988

6,893 10,870		17,763 1,247
- -		- -
6,893 10,870		17,763 1,247
- -		- -
6,983 10,870		17,763 1,247
- -		-
- -		- -

- -		- -
- -		- -
6,983 10,870		17,763 1,247


9,508 -		9,508 8,262
16,491	10,870	27,271	9,508

Contemporary Bri�sh Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2024

Balance sheet – as at 30[th] June 2024

Unrestricted funds Restricted income funds £ £	Unrestricted funds Restricted income funds £ £	Total this year Total last year £ £	Total this year Total last year £ £
- -		- -
16,491 20,780		37,271 29,175
16,491 20,780		37,271 29,175

- 10,000		19,667 19,667

16,491 10,780		27,271 9,508

16,491 10,780		27,271 9,508

16,491 10,780		27,271 9,508

10,780		10,780 -
16,491 -		16,491 9,508
16,491	10,780	27,271	9,508

Contemporary Bri�sh Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2024

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.

2.6 Support costs

Contemporary Bri�sh Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2024

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

Note 3 – Income	me
Analysis of income Donations and legacies: General grants provided by other charities and organisations Interest received Total Charitable activities: Course fees Total TOTAL INCOME	Analysis of income	Unrestricted funds	Restricted income funds	Total funds £	Prior year £
	General grants provided by other charities and organisations	5,000	14,667	19,667	28,317
	Interest received	-	-	-	-
	Total	5,000	14,667	19,667	28,317

		-	-	-	-
	Course fees	1,893	-	1,893	4,918
		1,893	-	1,893	4,918

		6,893	14,667	21,560	33,235

Contemporary Bri�sh Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2024

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	-	2,000	2,0000	-	17,170	17,170
Course workshop space	-	-	-	-	637	627
Course materials	-	231	231	-	2,970	2,970
Total expenditure on charitable activities - Expenditure on support activities:	-	2,231	2,231	-	20,767	20,767


Support staff	-	1,123	1,123	-	10,918	10,918
Bookkeeping	-	-	-	-	304	304
Insurance	-	441	441	-	-	-
Total expenditure on support activities TOTAL EXPENDITURE	-	1,566	1,566	-	11,221	11,221

	-	3,797	3,797	-	31,988	31,988

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

----- Start of picture text -----
This year
Activities Grant
Support Total this
Activity or programme undertaken funding of
Costs year
directly activities
£ £ £ £
-
Provision of training courses 2,231 1,566 3,797
Total 2,231 - 1,566 3,797
----- End of picture text -----

Contemporary Bri�sh Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2024

Note 5 – Expenses paid to Trustees

No trustees were paid expenses during the year.

Note 6 – Salaries and Wages

Salaries and wages Social security costs Other employee benefits Total staff costs

----- Start of picture text -----
This year Last year
£ £
3,123 28,088
- -
- -
3,123 28,088
----- End of picture text -----

No employee or consultant of the charity received remuneration in excess of £60,000 during the year.

The average headcount during the year was 1, employed on a consultancy basis and 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	This year Last year
	£ £
	- -
	- -
	- -
	-	-

There are no debtors in this or the prior year.

Contemporary Bri�sh Silversmiths Charity Charity number 1194900; Company number CE025972 Financial Statements for the Year ended 30[th] June 2024

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 £ £ £ £
	- - - -
	10,000 19,667 - -
	10,000	19,667	-	-

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.