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← Clacton And North East Essex Arts And Literary Society

2025-03-15-accounts

Charity Registration No. 801385

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 15 MARCH 2025

92 Station Road Clacton on Sea Essex CO15 1SG

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

CONTENTS

Page
Company information 1
Trustees report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 15

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

COMPANY INFORMATION

Trustees Mrs M Stephens Mr J Snow Mrs Z Gilbert Mrs D Day Mrs L Schatten Mrs E Weston Mrs V Horley (Appointed 15 April 2024) Charity number 801385 Independent examiner TC Group 92 Station Road Clacton on Sea Essex CO15 1SG

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

TRUSTEES REPORT

FOR THE YEAR ENDED 15 MARCH 2025

The trustees present their annual report and financial statements for the year ended 15 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The trustees have regard to the public benefit general guidance issues by the Charity Commission, as evidenced through the delivery of a variety of different services.

The object of the Charity is to promote, improve, develop and maintain public education in an appreciation of Science and the Arts, including the Arts of literature, music and drama. The Trustees' policy is to attract high calibre presentations in the pursuit of excellence as declared in the words of the Society's motto "Praestantiam petimus". However, as a significant number of the residents of the area have reached retirement age, it is also the Trustees' policy to ensure that the presentations are affordable to prospective members.

It is present practice to arrange sixteen presentations during a season, which extends from mid-October to early March, with a break during the Christmas period. Approximately one half is devoted to music (in many forms) and among the remainder, evenings are given to drama, poetry, dance, film and adventure of a scientific nature.

Local residents are invited to become members of the Charity by purchasing a season ticket which permits entry to all presentations. The proceeds from these memberships form the greater part of the Charity's income. In addition, non-members may purchase tickets for individual performances, subject to availability. In the summer months a small number of outings are arranged with the purpose of maintaining members' interest in the Charity from season to season and of providing an opportunity to visit places of interest they might not otherwise be able to reach.

Achievements and performance

The trustees have invested in line with the Trustees Act 2000. The investment aim was to obtain a return of 5% annually with the possibility of some growth in capital to cover inflation. Due to the volatility of the global economy this has not always been possible, however over the 16 years the investment has been in place it has increased allowing the Trustees to withdraw £50,084 and enabling the Trustees to continue to support its aims. The funds are monitored regularly and we are satisfied they are performing well compared with other funds of a similar type.

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

Financial review

The charity's financial year commences on 16th March each year and ends on the 15th March of the following year. Membership in 2024/25 closed at 820, which included 15 Life members. Membership numbers are still well below pre Covid levels and this reduction coupled with increasing operating costs has resulted in a deficit of £4,700 during this financial period.

In order to limit the cost of the season's presentations, the Charity seeks sponsorship from local companies and members of the Society and these contributions are used to help meet the cost of hiring the theatre in which the Charity's presentations are made. The Society also attempts to increase income by welcoming donations from members and organising fund raising activities. The income from fund raising has improved but is still below historic levels. With the cost of both the venue and the artiste rising each year and the Charity's previously stated aims to enhance presentations as well as continuing to limit the cost of the season ticket, the Trustees are fully aware of the situation and are taking steps to increase our Membership to pre Covid levels. The Trustees are conscious that the Society has an advance contractual commitment to an agreed programme and its attendant cost, before knowing what its membership and related income will be. This is and continues to be a risk.

However, since the Society received generous donations from the estates of former members, the Society is in a less precarious position. Some of the money received has been, and will continue to be, spent to further the aims and objectives of the Society and to enhance presentations. The entire cost of at least one presentation in each season is met from these funds.

The Trustees have a responsibility to maintain funds to ensure the financial security of the Society and its future viability and in doing so they have to bear in mind several very important factors. The present venue which we hire for presentations is large enough to cater for over eight hundred members, whose membership fees produce sufficient income to cover most of the cost of those presentations, hiring the theatre and running costs of the Society. However the Society has no guarantee that this venue will always be available. If this facility should be withdrawn, because all other venues in the locality are considerably smaller, we would be unable to sustain the Society in its present form and capital would be needed. In addition, the advancement in the technical equipment required to be hired for many performances increases costs.

At the end of the year under review, the General Funds of the Charity stood at £222,793. The only restricted fund of the Society is £2,000 from the Mr & Mrs Tom England Memorial Fund which was received, as a one off grant, by the Society during the 1997/98 season. All the Charity's money is held with HSBC, COIF Charity Funds or invested with Bullseye Financial under a general investment account.

Structure, governance and management

The governing instrument of the Clacton and North East Essex Arts and Literary Society is a constitution adopted on 14 March 1989 and registered on 13 April 1989 with the Charity Commission.

The Trustees are known as the Officers of the Society and they, together with up to ten other members, form the Management Committee. All trustees (officers) and other committee members act in an honorary capacity and are appointed annually.

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

Plans for future periods

The Charity is regarded locally and nationally as one of some standing. It has a good working relationship with the local authority, Tendring District Council, who own the theatre hired by us and who provide staff at a cost to us for lighting, sound etc. However the Society has been obliged to accept that the local authority is not prepared to give any assurance about the future use of the theatre beyond the period for which the annual budget has been approved.

The trustees, who served during the year and up to the date of signature of the financial statements were:

Mrs M Stephens Mr J Snow Mrs Z Gilbert Mrs D Day Mrs L Schatten Mrs E Weston Mrs V Horley

The trustees report was approved by the Board of Trustees.

Mrs M Stephens

President Dated: 31 March 2025

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

I report to the trustees on my examination of the financial statements of Clacton & North East Essex Arts & Literary Society (the charity) for the year ended 15 March 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Simon Garner FCA Independent Examiner

92 Station Road Clacton on Sea Essex CO15 1SG

Dated: 1 April 2025

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 15 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
2,002
-
Charitable activities
3
63,545
-
Other trading activities
4
820
-
Investments
5
2,043
-
Total income
68,410
-
Expenditure on:
Raising funds
6
16,030
-
Charitable activities
7
67,853
-
Total expenditure
83,883
-
Net gains/(losses) on
investments
10
10,773
-
Net expenditure and
movement in funds
(4,700)
-
Reconciliation of funds:
Fund balances at 16 March
2024
227,493
2,000
Fund balances at 15 March
2025
222,793
2,000		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
2,002
1,812
-
63,545
51,036
-
820
546
-
2,043
1,639
-
68,410
55,033
-
16,030
4,553
-
67,853
64,989
-
83,883
69,542
-
10,773
9,943
-
(4,700)
(4,566)
-
229,493
232,059
2,000
224,793
227,493
2,000		 Total
2024
£
1,812
51,036
546
1,639
55,033
4,553
64,989
69,542
9,943
(4,566)
234,059
229,493

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

BALANCE SHEET

AS AT 15 MARCH 2025

Notes
Fixed assets
Tangible assets
12
Investments
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
17
Unrestricted funds		 2025
£
64
7,390
36,695
44,149
(21,421)		 £
35
202,030
202,065
22,728
224,793
2,000
222,793
224,793		 2024
£
90
4,055
47,965
52,110
(16,905)		 £
47
194,241
194,288
35,205
229,493
2,000
227,493
229,493

The financial statements were approved by the Trustees on 31 March 2025

Mr J Snow Trustee

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 15 MARCH 2025

1 Accounting policies

Charity information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 113 Holland Road, Clacton on Sea, Essex, CO15 6HB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The entity satisfies the critera of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income in relation to outings that are to be taken after the year end have been deferred.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, and other sales related taxes.

1.5 Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attribute to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investments

Listed investments, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date.

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

1 Accounting policies

(Continued)

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2 Donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations 2,002 1,812

3 Charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Subscription income 43,385 42,175
Box office income 1,755 1,140
Sponsorship income 3,300 2,700
Raffles income 1,572 1,373
Outing income 13,378 3,402
Badges and books income 155 246
63,545 51,036

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

4 Other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Tax reclaimed 820 546
Investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Income on other investments 1,039 689
Bank interest received 1,004 950
2,043 1,639
Raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising
Raffles 299 256
Outings 11,683 2,994
Badges and books 25 -
Total fundraising 12,007 3,250
Investment management
Portfolio management 4,023 1,303
16,030 4,553

5 Investments

6 Raising funds

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

7 Charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Depreciation 12 16
Artists fees 49,819 46,939
Hospitality 185 130
Hire of theatre 12,240 12,210
Hire of equipment 975 1,220
Advertising 333 9
Insurance 358 450
Printing, postage and stationery 1,825 1,783
Sundry 342 516
Independent examination fees 1,164 1,100
Website 384 384
Bank charges 216 232
67,853 64,989
67,853 64,989

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

There were two trustees (2024: three) who received £552 (2024: £591) as reimbursement of expenses such as stationery, telephone and postage.

9 Employees

There were no employees during the year (2024: none).

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

10 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Revaluation of investments 6,316 (18,376)
Realised gains on listed investments 4,457 28,319
10,773 9,943

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Plant and
machinery
£
Cost
At 16 March 2024 7,157
At 15 March 2025 7,157
Depreciation and impairment
At 16 March 2024 7,110
Depreciation charged in the year 12
At 15 March 2025 7,122
Carrying amount
At 15 March 2025 35
At 15 March 2024 47

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

13
Investments
Fair value
At 16 March 2024
Income reinvested
Net gains or losses
Investment costs deducted
At 15 March 2025
All investments shown above are held at valuation.
14
Stocks
Raw materials and consumables
15
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Accruals and deferred income
17
Restricted funds
16
Mr and Mrs Tom England - Memorial Fund		 2025
£
194,241
1,039
10,773
(4,023)
202,030
2025
2024
£
£
64
90
2025
2024
£
£
300
-
7,090
4,055
7,390
4,055
2025
2024
£
£
21,421
16,905
Balance at
March 2024
Balance at
15 March 2025
£
£
2,000
2,000
2,000
2,000

CLACTON & NORTH EAST ESSEX ARTS & LITERARY SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 15 MARCH 2025

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 16 March Incoming Resources Gains and At 15 March
2024 resources expended losses 2025
£ £ £ £ £
General funds 227,493 68,410 (83,883) 10,773 222,793
Previous year: At 16 March Incoming Resources Gains and At 15 March
2023 resources expended losses 2024
£ £ £ £ £
General funds 232,059 55,033 (69,542) 9,943 227,493

19 Related party transactions

There were no disclosable related party transactions during the year (2024 - none) other than the transactions listed in note 9.