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Charity Registration No 1195473
Creative Juices
Financial Statements For the year end 10 August 2024
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CREATIVE JUICES
LEGAL AND ADMINISTRATIVE DETAILS As of 10 August 2024
STATUS
Registered as a CIO on 11[th] August 2021.
CHARITY NUMBER
1195473
BOARD OF TRUSTEES
Professor Nicholas Ernest Cronk David Willoughby Pountney Lesley Garrett Elizabeth Abrahams Charles Edward Dumas Emma Jenkins Caroline Clegg
REGISTERED OFFICE
44 Dry Hill Park Road Tonbridge TN10 3BU
ACCOUNTANTS
Hogbens Dunphy 104 Oxford Street London W1D 1LP
BANKERS
ROYAL BANK OF SCOTLAND Drummonds Branch 49 Charing Cross London SW1A 2DX
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CREATIVE JUICES Report of the Board of Trustees
The trustees present their report and the unaudited financial statements for the year ended 10 August 2024. Included within the trustees’ report is the directors’ report as required by company law. Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Liability of members to contribute to the assets of the CIO if it is wound up
If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
Our objectives and activities
This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes:
To advance the public education, appreciation and understanding of the arts, in particular, but not exclusively the art of opera in all aspects, by the development, production and presentation of public operatic performances and educational workshops
This is achieved by presenting, promoting, organizing, providing, managing or producing operas, concerts, musical pieces, entertainments, exhibitions, tutorials, seminars, courses and workshops in a wide range of locations. The trustees believe that the promotion and fostering of an appreciation of the arts can only truly expand horizons if it is both accessible and of the highest artistic integrity and standard.
In shaping our activities for the year, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on public benefit and fee charging. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. The strategies employed to achieve the charity’s purpose thus combine artistic and broader social objectives with a requirement to establish financial sustainability.
Financial Information
An income of £10,000 from the Genesis Foundation’s “Kickstarter” Fund was received in 2022, with project outgoings of £4,831 leaving £5,251.41 to be carried forward.
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Reserves Policy
The trustees are of the view that reserves are needed to bridge the gap between the spending and receiving of resources, to fund the development of future productions and respond to ongoing requests for workshop programmes for schools and community programmes based on previous productions. Financial sustainability for an innovative company means having reserves to fund this important development activity. The lack of adequate reserves gives rise to a challenging backdrop to our ability to develop both our productions, our community activities and our objective of widening the engagement of new audiences in opera. The trustees will set a target to achieve an appropriate level of financial reserve/ongoing funding in the next financial year.
Functions and duties of Charity Trustees
The Charity Trustees shall manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO. It is the duty of each Charity Trustee:
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(a) To exercise his or her powers and to perform his or her functions in his or her capacity as a Trustee of the CIO in the way he or she decides in good faith would be most likely to further the purposes of the CIO; and
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(b) To exercise, in the performance of those functions, such care and skill as is reasonable in the circumstances having regard in particular to:
(i) Any special knowledge or experience that he or she has or holds himself or herself out as having; and,
(ii) If he or she acts as a Charity Trustee of the CIO in the course of a business or profession, to any special knowledge or experience that it is reasonable to expect of a person acting in the course of that kind of business or profession.
Number of Charity Trustees
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(a) There must be at least three Charity Trustees. If the number falls below this minimum, the remaining Trustee or Trustees may act only to call a meeting of the Charity Trustees, or appoint a new Charity Trustee.
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(b) There is no maximum number of Charity Trustees that may be appointed to the CIO.
First Charity Trustees
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The first Charity Trustees (elected for the term of office specified below) are as follows: a) Elizabeth Abrahams (indefinite term)
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b) Caroline Clegg (seven year term)
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c) Charles Dumas (Chair) (indefinite term)
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d) Lesley Garratt CBE (indefinite term)
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e) Emma Jenkins (seven year term)
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f) Sir David Pountney (seven year term)
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g) Nicholas Cronk (indefinite term)
Appointment of Charity Trustees
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(1) Apart from the first Charity Trustees, every Trustee must be appointed by a resolution passed at a properly convened meeting of the Charity Trustees.
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(2) In selecting individuals for appointment as Charity Trustees, the Charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Retirement and removal of Charity Trustees
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(1) A Charity Trustee ceases to hold office if he or she:
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(a) Retires by notifying the CIO in writing (but only if enough Charity Trustees will remain in office when the notice of resignation takes effect to form a quorum for meetings).
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(b) Is absent without the permission of the Charity Trustees from all their meetings held within a period of six months and the Trustees resolve that his or her office be vacated.
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(c) Dies.
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(d) In the written opinion, given to the company, of a registered medical practitioner treating that person, has become physically or mentally incapable of acting as a Trustee and may remain so for more than three months.
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(e) Is disqualified from acting as a Charity Trustee by virtue of sections 178180 of the Charities Act 2011 (or any statutory re-enactment or modification of that provision).
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(f) In the case of a trustee elected for a fixed term of office – the term expires.
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(2) Any person retiring as a Charity Trustee is eligible for reappointment.
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CREATIVE JUICES REVIEW OF ACTIVITIES
Due to the other activities of the Trustees taking precedence, the Charity was unable to record any activity in the year 23/24. However the trustees fully expect an important level of activity to take place in the year 24/5.
Statement of Financial Activities (including Income and Expenditure account) for the year ended 10 August 2024
| Unrestricted | Restricted | |
|---|---|---|
| funds | funds | |
| £ | £ | |
| Grant Income: Genesis Foundaton | 10 000 | 0 |
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Charitable Activities 0 Other trading activities 0 - Investments 0 - Total income 0 0 Expenditure on Balance sheet as at 10 August 2024 Debtors’ 0 0 Cash at bank and in hand 5,342.78 Total current assets 5,342.78 Liabilities Creditors: amounts falling due in less 0 than one year Net current assets Total assets less current liabilities 5,342.78 The funds of the charity: 5,342.78 Restricted income funds 0 Unrestricted income funds 5,251.41 Interest earned 91.37 Total charity funds: 5342.78
For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
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The notes on pages 11 to 20 form part of these accounts.
Approved by the trustees on 23 August 2024 and signed on their behalf by:
(Trustee)