Igloo Artists Limited - Filleted accounts
Igloo Artists Limited - Filleted accounts
Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2021 | 2020 | |||||
£ | £ | ||||||
Current assets | |||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 4 | ( |
( |
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Net current assets | |||||||
Total net (liabilities)/assets | |||||||
The funds of the charity | |||||||
accumulated funds | 5 | ||||||
Total charity funds | |||||||
Colm Lally | |||||||
Director | |||||||
Approved by the board on |
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Igloo Artists Limited | ||||||||
Notes to the Accounts | ||||||||
for the year ended 30 November 2021 | ||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales. The accounts have been drawn up in accordance with the provisions of the Charities Acts and the Companies Acts, and include the results of the charity’s operations which are described in the Trustees’ Report, all of which are continuing. | ||||||||
Incoming resources | ||||||||
Grants and donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Deferred income represents amounts received for future periods and is released to incoming sources in the period for which it has been received. Such income is only deferred when the donor specifies that the donation must only be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement. Investment income is recognised on a receivable basis. |
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Resources expended | ||||||||
Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. |
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Cash flow statement | ||||||||
The charity has taken advantage of the exemption applicable to small companies and not produced a cash flow statement. | ||||||||
Taxation | ||||||||
As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. | ||||||||
1 | Trustees remuneration and expenses | |||||||
No remuneration or benefits were paid to trustees or persons connected with them during the year. | ||||||||
2021 | 2020 | |||||||
Average number of employees | 1 | |||||||
2 | Income | Unrestricted funds | Total funds | |||||
2021 | 2021 | 2020 | ||||||
£ | £ | £ | ||||||
Other operating income | - | - | 10,000 | |||||
Artist fees | 26,574 | 26,574 | 94,459 | |||||
26,574 | 26,574 | 104,459 | ||||||
3 | Expenditure | 2021 | 2021 | 2020 | ||||
£ | £ | £ | ||||||
a | Costs of charitable activities | |||||||
Artists fees | 2,700 | 2,700 | 71,736 | |||||
Production costs | 976 | 976 | 3,348 | |||||
Directors' salaries | - | - | 9,400 | |||||
Travel | 127 | 127 | 190 | |||||
Other costs | 10,321 | 10,321 | 1,696 | |||||
14,124 | 14,124 | 86,370 | ||||||
b | Governance costs | |||||||
Bank charges | 70 | 70 | 70 | |||||
Rent and water rates | 12,500 | 12,500 | 15,000 | |||||
Examination and accountancy | 540 | 540 | 582 | |||||
13,110 | 13,110 | 15,652 | ||||||
4 | Creditors: amounts falling due within one year | 2021 | 2020 | |||||
£ | £ | |||||||
Accruals | 586 | 1,150 | ||||||
586 | 1,150 | |||||||
5 | Analysis of the Net movement in funds | 2021 | ||||||
£ | ||||||||
At 1 December 2020 | 7,479 | |||||||
Net movement in funds from Statement of Financial Activities | (660) | |||||||
At 30 November 2021 | 6,819 | |||||||
4 | Related party transactions | |||||||
There were no related party transactions during the year. |