REGISTERED CHARITY NUMBER: 1206119
Report of the Trustees and
Unaudited Financial Statements
for the Period ended 31 December 2024
for
Bosla Arts (CIO)
Bosla Arts (CIO)
Contents of the Financial Statements for the Period ended 31 December 2024
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 to 8 |
| Detailed Statement of Financial Activities | 9 |
Bosla Arts (CIO)
Reference and Administrative Details for the Period ended 31 December 2024
TRUSTEES Georgia Rose Fairweather Beeston (Chair) H H Hussein Ahmed Fazalla (Trustee) Mo Langmuir (Trustee) Sophie Mandall Watson (Trustee) H H Mohamed Abdelmagid (Trustee) PRINCIPAL ADDRESS Flat 2 90A Wilberforce Road London N4 2SR REGISTERED CHARITY 1206119 NUMBER INDEPENDENT EXAMINER Quilfords Limited Chartered Certified Accountants 113 Romford Road London E15 4LY
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Bosla Arts (CIO)
Report of the Trustees for the Period ended 31 December 2024
The trustees present their report with the financial statements of the charity for the Period ended 31 December 2024. 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).
Bosla Arts supports art-activists and social change makers worldwide while educating the UK public about various global issues through the medium of art. Bosla Arts' work falls under three main objectives; to support, promote, and educate.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the CIO is: the promotion of art for the public benefit, including but not limited to multimedia art, visual art, photography, film, dance, poetry and literature, by offering residencies to artists which provide facilities and mentoring for the development of artistic practice enabling them to produce art for public exhibition
FINANCIAL REVIEW
Funds in surplus
The charity received total income of £75,844 during the year. After payments of outgoing expenses of £9,308, the charity was left with a surplus of £66,536 for the year.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Approved by order of the board of trustees on 6 May 2025 and signed on its behalf by:
Georgia Rose Fairweather Beeston - Chair
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Independent Examiner's Report to the Trustees of Bosla Arts (CIO)
Independent examiner's report to the trustees of Bosla Arts (CIO)
I report to the charity trustees on my examination of the accounts of Bosla Arts (CIO) (the Trust) for the Period ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do 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.
Askir Ali
Quilfords Limited Chartered Certified Accountants 113 Romford Road London E15 4LY
Date: ............................................. 28/05/2025
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Bosla Arts (CIO)
| Statement of Financial Activities | ||
|---|---|---|
| for the Period ended 31 December 2024 | ||
| Unrestricted | ||
| fund | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 75,844 | |
| EXPENDITURE ON | ||
| Raising funds | 2 | 9,308 |
| NET INCOME | 66,536 | |
| TOTAL FUNDS CARRIED FORWARD | 66,536 |
The notes form part of these financial statements
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Bosla Arts (CIO)
Statement of Financial Position 31 December 2024
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| CURRENT ASSETS | ||
| Cash at bank | 67,736 | |
| CREDITORS | ||
| Amounts falling due within one year | 4 | (1,200) |
| NET CURRENT ASSETS | 66,536 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 66,536 | |
| NET ASSETS | 66,536 | |
| FUNDS | 5 | |
| Unrestricted funds | 66,536 | |
| TOTAL FUNDS | 66,536 |
The financial statements were approved by the Board of Trustees and authorised for issue on 6 May 2025 and were signed on its behalf by:
Georgia Rose Fairweather Beeston - Chair
The notes form part of these financial statements
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Bosla Arts (CIO) Notes to the Financial Statements for the Period ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. 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 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.
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continued...
Bosla Arts (CIO) Notes to the Financial Statements - continued for the Period ended 31 December 2024
2. RAISING FUNDS
Raising donations and legacies
£ Support costs 9,308
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 December 2024.
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£ Other creditors 1,200
5. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||
|---|---|---|
| Net | ||
| movement | At | |
| in funds | 31.12.24 | |
| £ | £ | |
| Unrestricted funds | ||
| General fund | 66,536 | 66,536 |
| TOTAL FUNDS | 66,536 | 66,536 |
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 75,844 | (9,308) | 66,536 |
| TOTAL FUNDS | 75,844 | (9,308) | 66,536 |
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continued...
Bosla Arts (CIO)
Notes to the Financial Statements - continued for the Period ended 31 December 2024
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 December 2024.
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Bosla Arts (CIO)
Detailed Statement of Financial Activities for the Period ended 31 December 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other revenue Total incoming resources EXPENDITURE Support costs Finance Bank charges Other Postage and stationery Travel and subsistence Event expenses Charitable donation Advertising Equipment expensed General expenses Computer maintenance Podcast costs Governance costs Accountancy fees Legal fees Total resources expended Net income |
£ 575 72,443 2,826 75,844 75,844 11 2 903 1,809 730 121 1,063 55 1,122 2,192 7,997 1,200 100 1,300 9,308 66,536 |
|---|---|
This page does not form part of the statutory financial statements
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