Solihull Society of Arts
Report of the Trustees and
Financial Statements for the Year Ended 31 August 2021
Registered Charity Number 260027
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Solihull Society of Arts Report of the Trustees For the Year ended 31 August 2021
The Trustees present their report with the financial statements of the Charity for the year ended 31 August 2021.
The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005.
Reference and Administrative Details
Registered Charity Number 260027
Principal Address: The Edge at Alderbrook Blossomfield Road Solihull West Midlands B91 1SN
Trustees: A Moore Mrs P Ritchie A K Scott Independent Examiner: T J Hammond 38 Dene Hollow Kings Heath Birmingham B13 0EL
Structure, Governance and Management
Governing Document:
The Charity is controlled by its Governing Document, a Deed of Trust, and constitutes an unincorporated charity.
Risk Management :
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Objectives and Activities
Objectives of the Charity
The Society was established in 1944 to foster the appreciation, improvement and development of the Arts amongst the inhabitants of the Borough of Solihull.
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Solihull Society of Arts Report of the Trustees For the Year ended 31 August 2021
Objectives and Activities - continued
There are six sections of the Society – Art, Drama, Local History, Recorded Music, Solihull on Stage and its youth section, SOSage Factory. Solihull on Stage and SOSage Factory were previously affiliated members, becoming full members on 1 September 2015. Meetings and performances of the various sections are open to the public, normally on payment of an admission charge. Members pay a subscription, part of which goes to the Society as capitation and the balance goes to the individual sections to which members subscribe.
Activities of the Charity
The sections have been unable to fully continue their normal activities since late March 2020, due to the Covid-19 pandemic. Before that, a number of sections used to meet in Alderbrook School, under the terms of a 10 year Partnership Agreement of 6 December 2002, as updated by further Agreements dated 6 December 2012 and 6 December 2017. Under the Agreements the School would be due to repay to the Society the £270,000 which was originally advanced under the 2002 Agreement, if they terminated without agreeing a further renewal. This sum was treated as a grant when it was originally made in July 2003, and, consequently, does not appear in the accounts of the Society.
During the year the Local History section received a legacy of £30,000. Further receipts are expected in the future in respect of this legacy.
Financial Review
Reserves Policy
The Society’s policy is that unrestricted funds which have not been designated for a specific use should be maintained at a level of at least twelve months’ expenditure. The Trustees consider that Reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways of raising additional funds. This level of funds has been maintained throughout the year, and at the year end the funds are well in excess of this level. The Trustees believe that future commitments will utilise these excess Reserves.
Financial Position
The Society generated a surplus of £35,550 in the year to 31 August 2021. (Surplus of £1,502 for the year to 31 August 2020). Reserves amounted to £161,020 at 31 August 2021 (£125,470 at 31 August 2020).
On Behalf of the Board:
Trustee
3 November 2021
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Solihull Society of Arts
Independent Examiner’s Report To the Trustees of Solihull Society of Arts
I report on the Accounts of the Charity for the Year ended 31 August 2021, which are set out on pages 4 to 7.
Respective Responsibilities of Trustees and Examiner
The Charity’s Trustees are responsible for the preparation of the Accounts. The Charity’s Trustees consider that an Audit is not required for the period under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an Independent Examination is needed. It is my responsibility to:
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examine the Accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My Examination was carried out in accordance with the 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 you as 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
In connection with my Examination, no matter has come to my attention:
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which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare Accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.
T J Hammond 38 Dene Hollow Kings Heath Birmingham B13 0EL 3 November 2021
| Solihull Society of Arts Statement of Financial Activities for the Year to 31 August 2021 Notes INCOMING RESOURCES Incoming Resources from Generated Funds Voluntary Income Investment Income 2 Incoming Resources from Charitable Activities Furtherance of the Arts Other Incoming Resources Total Incoming Resources RESOURCES EXPENDED Charitable Activities Furtherance of the Arts Governance Costs Total Resources Expended NET INCOMING RESOURCES RECONCILIATION OF FUNDS Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Year to 31/8/2021 Unre- stricted Funds £ 30,119 3,925 7,699 109 41,852 6,302 6,302 35,550 125,470 161,020 |
Page 4 Year to 31/8/2020 Unre- stricted Funds £ 1,396 3,939 32,228 268 37,831 36,329 36,329 1,502 123,968 125,470 |
|---|---|---|
| Solihull Society of Arts Balance Sheet as at 31 August 2021 Notes Current Assets Debtors 4 Cash at Bank and in hand Creditors: amounts falling due wthin one 5 Net Current Assets Net Assets Funds Unrestricted Funds 6 Shareholders' Funds |
31/8/2021 Unre- stricted Funds £ 17,335 143,978 161,313 293 161,020 161,020 161,020 161,020 |
Page 5 31/8/2020 Unrestricted Funds £ 15,951 110,299 126,250 780 125,470 125,470 125,470 125,470 |
|---|---|---|
The financial statements were approved by the Board of Trustees on 3 November 2021 and were signed on its behalf by:
Trustee
Trustee
Solihull Society of Arts Notes to the Financial Statements for the Year to 31 August 2021
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1. Accounting Policies
Basis of Preparation
The Financial Statements have been prepared under the historical cost convention and in accordance with the Financial
Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the require-
Statement of Recommended Practice, "Accounting and Reporting by
Incoming Resources
All Incoming Resources are included in the Statement of Financial Activities when the Charity is legally income and the amount can be quantified with reasonable accuracy.
Resources Expended
Expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to
the category. Where costs cannot be directly attributed to particular headings they have been allocated 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 objectives of the Charity. Restrictions arise
when specified by the donor or when funds are raised for particular restricted purposes.
All of the Society's funds are currently held in Unrestricted
| 2. Investment Income Rents received Deposit account interest |
2021 3,745 180 3,925 |
2020 3,530 409 3,939 |
|---|---|---|
Solihull Society of Arts Notes to the Financial Statements for the Year to 31 August 2021
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3. Trustees' Remuneration and Benefits
No remuneration or other benefits were paid to Trustees in the Year to 31 August
Expenses of £26 (2020 £0) were refunded to
| 4. Debtors Other Debtors 5. Creditors: amounts falling due within one year Other Creditors 6. Movements in Funds Unrestricted Funds General Fund Art Section Drama Section Local History Section Recorded Music Circle Solihull on Stage SOSage Factory Total Funds |
2021 17,335 2021 293 At 31/8/20 Incoming Resources 78,264 3,916 5,675 1,002 385 1,087 2,846 30,090 1,182 4 24,734 5,738 12,384 15 125,470 41,852 |
2020 15,951 2020 780 Resources At 31/8/21 Expended 948 81,232 666 6,011 1,045 427 71 32,865 274 912 2,845 27,627 453 11,946 6,302 161,020 |
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