REGISTERED NUMBER:
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Report of the Directors and |
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Financial Statements for the Year Ended 31st October 2022 |
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Crave Arts |
REGISTERED NUMBER:
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Report of the Directors and |
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Financial Statements for the Year Ended 31st October 2022 |
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Crave Arts |
Crave Arts (Registered number: 12933201) |
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Contents of the Financial Statements |
for the Year Ended 31st October 2022 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Statement of Income and Retained Earnings | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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Crave Arts |
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Company Information |
for the Year Ended 31st October 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Thorneloe House |
25 Barbourne Road |
Worcester |
Worcestershire |
WR1 1RU |
Crave Arts (Registered number: 12933201) |
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Report of the Directors |
for the Year Ended 31st October 2022 |
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The directors present their report with the financial statements of the company for the year ended 31st October 2022. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of |
a) | providing high quality participatory arts and heritage activities for communities and the wider public; |
b) | supporting people's health and wellbeing through engagement with the arts and heritage; and |
c) | providing specialist support services to those working in or with the arts and heritage sector. |
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REVIEW OF BUSINESS |
The second year of operations for Crave Arts has been a varied and busy year. We have carried out a number of projects in new writing and socially engaged creative work with communities, as well as delivering more consultancy within the creative sector. The Directors also created a website for their organisation: www.cravearts.co.uk to complement their online social media presence. |
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The year began with the culmination of the community-based writing project, 'Whisper to Voice' which was undertaken at the Swan Theatre with Worcester Theatres. Whisper to Voice was well received and further established Crave Arts as a company who are leading on new writing. Worcester Theatres also asked Crave Arts to become an Associate Company, which the Directors were pleased to do. |
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Spring 2022 was a very busy period. We were funded by England's Illegal Money Lending Team and South Worcestershire Community Safety Partnership to use creativity to raise awareness of the dangers of loan sharks with vulnerable people. This comprised workshops, visual arts and performances with Ourside Youth Centre, Worcester Community Trust, Regency School, Malvern Cube and Crowngate Shopping Centre. Community Living Room was a project funded by the National Lottery. We contracted three freelance artists to work with targeted Worcester communities (Eastern Europeans and vulnerable women) to ask the question 'What is Home?' Visual artist Nicola Winstanley then produced an inspiring installation in an empty shop in Worcester, visited by over 60 people in a memorable day. |
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Steve and Debbie also ran a half day creative business advice session for Worcestershire Libraries' Business and Intellectual Property Centre to over 40 new and emerging creatives. This was received positively and will inform our future work. The session was repeated in the Autumn to a smaller audience at Worcester Theatres. |
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Steve continued the work with Worcester Theatres through 'On the Verge' in the Summer, supporting emerging playwrights and culminating in a performance at the Worcester Fringe. Debbie began work with Gloucestershire County Council Libraries Department as a fundraising consultant, and started a second year of evaluation for Arts Uplift working with male offenders in Warwickshire. Steve undertook workshops as part of the Arts Council funded Feast Festival in Malvern. |
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In the Autumn, Crave Arts worked in collaboration with the Everyman Theatre and Worcester Cathedral on a new writing project called Writing the Wrongs, partially funded through the support of Divisional Funding by two Worcestershire County Councillors, Lynn Denham and Matt Jenkins. |
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There are challenges ahead with the worsening economic situation across the UK creating a competitive funding climate. As we move forward into 2023, we seek to combine funded project work with consultancy and training. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st November 2021 to the date of this report. |
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QUALIFYING THIRD PARTY INDEMNITY PROVISIONS |
The company has made third party indemnity provisions for the benefit of its directors during the year and these provisions remain in force at the reporting date. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Crave Arts (Registered number: 12933201) |
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Statement of Income and |
Retained Earnings |
for the Year Ended 31st October 2022 |
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Period |
6.10.20 |
Year Ended | to |
31.10.22 | 31.10.21 |
£ | £ |
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TURNOVER |
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Cost of sales |
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GROSS SURPLUS |
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Administrative expenses |
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OPERATING DEFICIT and |
DEFICIT BEFORE TAXATION | ( |
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Tax on deficit |
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DEFICIT FOR THE FINANCIAL YEAR | ( |
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Retained earnings at beginning of year | ( |
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RETAINED EARNINGS AT END OF YEAR | ( |
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Crave Arts (Registered number: 12933201) |
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Balance Sheet |
31st October 2022 |
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2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES |
Income and expenditure account | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which 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 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 company. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Crave Arts (Registered number: 12933201) |
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Notes to the Financial Statements |
for the Year Ended 31st October 2022 |
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1. | STATUTORY INFORMATION |
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Crave Arts is a
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In the event of the company being wound up, the liability in respect of the guarantee is limited to £1. |
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Grant income is recognised on an accruals basis. |
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Consultancy income is recognised on an accruals basis. |
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TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 - NIL). |
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4. | GRANTS AWARDED |
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The following grants were awarded to Crave Arts in the year: |
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2022 | 2021 |
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Birmingham City Council | - | 4,960 |
The Elmley Foundation | - | 1,500 |
The National Lottery Community Fund | - | 4,980 |
Worcester City Council | 2,488 | 1,200 |
Worcester Live | - | 8,000 |
Worcestershire County Council | 450 | - |
2,938 | 20,640 |
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Last year £13,073 of grant income was deferred since the projects had either not yet commenced or were still in progress. No income has been deferred in the current year. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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Crave Arts (Registered number: 12933201) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st October 2022 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Directors' loan accounts |
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Deferred income |
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Accrued expenses |
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Deferred income relates to monies received for projects which have either not yet got underway or are still in progress, and the funds will be spent in the next financial year. The following project income has been deferred: |
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2022 | 2021 |
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Loan Sharks | - | 4,960 |
Places Called Home | - | 4,980 |
Whisper to Voice | - | 3,133 |
- | 13,073 |
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7. | GOING CONCERN |
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As at 31 October 2022 the balance sheet was overdrawn. The directors have agreed to support the company therefore these accounts have been drawn up on a going concern basis. |