REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Macclesfield Community Artspace |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Macclesfield Community Artspace |
Macclesfield Community Artspace |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 11 |
Macclesfield Community Artspace (Registered number: 08290455) |
Report of the Trustees |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objects of the charity are: To promote for the benefit of the inhabitants of Macclesfield and the surrounding area the provision of community facilities for recreation or other leisure time occupation for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants, in particular but not exclusively by delivering a range of creative arts and community projects. |
The principles of the charity include inclusivity, accessibility and recycling. |
Public benefit |
The Trustees are aware of the guidance issued by the Charity Commission and the requirement of the Charities Act 2011 in respect of this. |
The review of the charity's strategy and achievement shows that it is operating to provide public benefit and that its services are readily available to all those who need them. |
Staff and Volunteers |
The charity appointed a coordinator in April 2022, who is a paid member of staff. Occasionally payments are also made to professionals for specific projects. Generally the charity operates with the help of an amazing team of volunteers who give their time, energy and passion to provide great activities and opportunities for the community |
ACHIEVEMENT AND PERFORMANCE |
Review April 2022 to March 2023 |
The main Trustee priority at the beginning of April 2022 was to ensure and support the appointment of a part time co - ordinator whose remit would be both to enable ArtSpace to expand post Covid by reaching out into the local community to provide more Arts based activities for local families and also to recruit more volunteers. |
Jane our co ordinator has made a tremendous difference through her hard work and dedication. |
As an organisation, ArtSpace has increased its revenue streams through collaborative working with other local organisations, particularly Macclesfield Town Council and local charities supporting adults in the community. |
ArtSpace now offers taught sewing and woodwork classes which are always fully booked. |
ArtSpace also hosts regular drop in family craft sessions plus Home Ed ArtSessions . |
We provide volunteer led and paid opportunities for our Artists to support local charities, festivals, events and adult user groups with Art and Craft projects. |
There has been a change of Trustee personnel and the new board is going forward with the necessary processes to bring ArtSpace accounts, policies and procedures up to date. |
FINANCIAL REVIEW |
Some unrestricted and restricted funds were carried over from the previous year. During the course of the year the charity raised funds through its own activities, friends scheme and donations along with some funds received from Macclesfield Town Council for specific projects. Funding was obtained for one year from Macclesfield Town Council to appoint a paid coordinator and this contract has since been extended for a further period and is currently self-funded. However at the end of the year after outgoings for premises, materials, equipment, payment of the coordinator, there was a deficit which the team are aware of and are trying to increase income and obtain future funding to cover all costs. The charity recognises the importance of funding from multiple sources to ensure sustainability. |
The trustees would like to thank the Friends of Artspace and volunteers for their support and especially our wonderful coordinator Jane Griffiths who has done an amazing job during her time working for Artspace. |
Macclesfield Community Artspace (Registered number: 08290455) |
Report of the Trustees |
FUTURE PLANS |
Various seasonal events are planned at Artspace and also in the community through to 2024 where we will take part in Chinese New Year once again. Weekly opening times continue for drop in arrangements and regular groups also meet at Artspace. With the support of a growing group of volunteers and access to new funding, we hope to continue to expand what we offer and improve our facilities. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The company (08290455) was originally formed on incorporation on 12th November 2012. The company registered as a charity (1153606) in August 2013. |
The company is governed by its Memorandum and Articles of Association which state that its objects are: |
To promote for the benefit of the inhabitants of Macclesfield and the surrounding area the provision of community facilities for recreation of other leisure time occupation for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants, in particular but not exclusively by delivering a range of creative arts and community projects. |
Organisational structure |
The charity is governed by the board of trustees who oversee the workings of the steering group and forum of the charities users. |
Induction and training of new trustees |
Trustees are encouraged to participate in the programmes of training provided by the CVS. This year CVS training courses were attended by Artspace volunteers. All trustees are acquainted with the responsibilities of their role and duties and provided with the relevant Charity Commission literature. |
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. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
N F Puttick (resigned 10.5.23) |
N S Young (resigned 10.5.23) |
T Bennett Manager (appointed 25.6.21) (resigned 28.11.22) |
Ms L Lewis Senior Support Worker (resigned 29.6.22) |
R S Melville Event Site Manager (resigned 20.3.23) |
T J Swift (appointed 8.6.23) |
Mrs L C Lewis (appointed 8.6.23) |
F E Nicholson (appointed 10.5.23) |
M Handley (appointed 1.5.22) (resigned 8.6.23) |
Company Secretary |
Macclesfield Community Artspace (Registered number: 08290455) |
Report of the Trustees |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
Karen L Hunter FCCA |
Nolan James Ltd |
Chartered Accountants |
Suite 1 Armcon Business Park |
London Road South |
Poynton |
Stockport |
Cheshire |
SK12 1LQ |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Macclesfield Community Artspace |
Independent examiner's report to the trustees of Macclesfield Community Artspace ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
Karen L Hunter FCCA |
Nolan James Ltd |
Chartered Accountants |
Suite 1 Armcon Business Park |
London Road South |
Poynton |
Stockport |
Cheshire |
SK12 1LQ |
7 November 2023 |
Macclesfield Community Artspace |
Statement of Financial Activities |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 | 1,267 | - | 1,267 | 394 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Charitable activites | 15,987 | - | 15,987 | 13,299 |
Other | ( |
) |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 8 | 3,250 | (3,250 | ) | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 39,105 |
Macclesfield Community Artspace (Registered number: 08290455) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank and in hand | 6 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 8 |
Unrestricted funds | 25,680 |
Restricted funds | 13,425 |
TOTAL FUNDS | 39,105 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Macclesfield Community Artspace |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 Companies Act 2006. 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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Taxation |
The charity is exempt from corporation 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
2. | OTHER TRADING ACTIVITIES |
31.3.23 | 31.3.22 |
£ | £ |
Fundraising events | - | 196 |
Tuck shop sales |
Merchandise income | 52 | - |
Room hire | 955 | - |
1,267 | 394 |
Macclesfield Community Artspace |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.23 | 31.3.22 |
£ | £ |
Independant examiner | - | 780 |
Other operating leases | 9,039 | 8,824 |
Surplus on disposal of fixed assets | ( |
) |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 394 | - | 394 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Charitable activites | 13,299 | - | 13,299 |
Other | ( |
) | ( |
) |
Total | ( |
) |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 22,906 | 13,325 |
TOTAL FUNDS CARRIED FORWARD | 25,680 | 13,425 | 39,105 |
Macclesfield Community Artspace |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | CASH AT BANK AND IN HAND |
Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Accrued expenses |
8. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 25,680 | (7,286 | ) | 3,250 | 21,644 |
Restricted funds |
Restricted Funds | 13,425 | (9,175 | ) | (3,250 | ) | 1,000 |
TOTAL FUNDS | (16,461 | ) | 22,644 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 17,924 | (25,210 | ) | (7,286 | ) |
Restricted funds |
Restricted Funds | 1,000 | (10,175 | ) | (9,175 | ) |
TOTAL FUNDS | ( |
) | (16,461 | ) |
Macclesfield Community Artspace |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
8. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 22,906 | 2,774 | 25,680 |
Restricted funds |
Restricted Funds | 13,325 | 100 | 13,425 |
TOTAL FUNDS | 36,231 | 2,874 | 39,105 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 16,640 | (13,866 | ) | 2,774 |
Restricted funds |
Restricted Funds | - | 100 | 100 |
TOTAL FUNDS | 16,640 | (13,766 | ) | 2,874 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 22,906 | (4,512 | ) | 3,250 | 21,644 |
Restricted funds |
Restricted Funds | 13,325 | (9,075 | ) | (3,250 | ) | 1,000 |
TOTAL FUNDS | 36,231 | (13,587 | ) | - | 22,644 |
Macclesfield Community Artspace |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
8. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 34,564 | (39,076 | ) | (4,512 | ) |
Restricted funds |
Restricted Funds | 1,000 | (10,075 | ) | (9,075 | ) |
TOTAL FUNDS | 35,564 | (49,151 | ) | (13,587 | ) |
9. | RELATED PARTY DISCLOSURES |