HvH Arts Ltd - Charities report - 22.2
HvH Arts Ltd - Charities report - 22.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2023 |
| for |
| HvH Arts Ltd |
| HvH Arts Ltd |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2023 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
| HvH Arts Ltd (Registered number: 07842254) |
| Report of the Trustees |
| for the Year Ended 30 April 2023 |
| 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 30 April 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 charity aims to inspire a generation of young people by offering them a gateway to the Arts by funding after and out of school classes in primary and secondary state schools in England. The foundation provides children with the inspiration and tolls to develop lifelong artistic passions. |
| The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. |
| Public benefit |
| The policies adopted to further the objectives of the Charity for public benefit in accordance with section 4 of the 2006 act to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties are disclosed in section headed objectives and aims in this report. |
| FINANCIAL REVIEW |
| Reserves policy |
| It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six 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 in which additional funds may be raised. This level of reserves has been maintained throughout the year. |
| FUTURE PLANS |
| HvH Arts currently supports 650 unique children/young people per year through our Arts programmes and it is our aim to grow this to 2,500 children/young people per year. |
| To achieve this, we need to secure more grants, funding and private donations. |
| Having access to a larger space to deliver our Arts programmes is a key driver to reaching our target of 2,500 children/young people per year, thus our long-term strategy is to secure our own building to deliver our Arts programmes from. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| HvH Arts Ltd (Registered number: 07842254) |
| Report of the Trustees |
| for the Year Ended 30 April 2023 |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Mudd Partners LLP |
| Chartered Accountants |
| Lakeview House |
| 4 Woodbrook Crescent |
| Billericay |
| Essex |
| CM12 0EQ |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| HvH Arts Ltd |
| Independent examiner's report to the trustees of HvH Arts Ltd ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 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. |
| David Petrassi FCCA | FCA |
| Mudd Partners LLP |
| Chartered Accountants |
| Lakeview House |
| 4 Woodbrook Crescent |
| Billericay |
| Essex |
| CM12 0EQ |
| 24 November 2023 |
| HvH Arts Ltd |
| Statement of Financial Activities |
| for the Year Ended 30 April 2023 |
| 30.4.23 | 30.4.22 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Investment income | 2 |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 55,828 |
| HvH Arts Ltd (Registered number: 07842254) |
| Balance Sheet |
| 30 April 2023 |
| 30.4.23 | 30.4.22 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 7 |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 10 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 11 |
| Unrestricted funds | 55,828 |
| TOTAL FUNDS | 55,828 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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. |
| HvH Arts Ltd (Registered number: 07842254) |
| Balance Sheet - continued |
| 30 April 2023 |
| 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 |
| HvH Arts Ltd |
| Notes to the Financial Statements |
| for the Year Ended 30 April 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. |
| HvH Arts Ltd |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2023 |
| 2. | INVESTMENT INCOME |
| 30.4.23 | 30.4.22 |
| £ | £ |
| Deposit account interest |
| 3. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 30.4.23 | 30.4.22 |
| £ | £ |
| Depreciation - owned assets |
| Other operating leases | 3,334 | 4,200 |
| Surplus on disposal of fixed assets | ( |
) |
| Computer software amortisation |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022. |
| 5. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 30.4.23 | 30.4.22 |
| Management | 5 | 4 |
| Admin | 2 | 1 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted |
| fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| HvH Arts Ltd |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2023 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted |
| fund |
| £ |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 55,828 |
| 7. | INTANGIBLE FIXED ASSETS |
| Computer |
| software |
| £ |
| COST |
| At 1 May 2022 and 30 April 2023 |
| AMORTISATION |
| At 1 May 2022 |
| Charge for year |
| At 30 April 2023 |
| NET BOOK VALUE |
| At 30 April 2023 |
| At 30 April 2022 |
| HvH Arts Ltd |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2023 |
| 8. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 April 2023 |
| DEPRECIATION |
| At 1 May 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2023 |
| NET BOOK VALUE |
| At 30 April 2023 |
| At 30 April 2022 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.23 | 30.4.22 |
| £ | £ |
| Prepayments |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.23 | 30.4.22 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 11. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.5.22 | in funds | 30.4.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 55,828 | 41,579 | 97,407 |
| TOTAL FUNDS | 41,579 | 97,407 |
| HvH Arts Ltd |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2023 |
| 11. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 213,955 | (172,376 | ) | 41,579 |
| TOTAL FUNDS | ( |
) | 41,579 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.5.21 | in funds | 30.4.22 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 72,082 | (16,254 | ) | 55,828 |
| TOTAL FUNDS | 72,082 | (16,254 | ) | 55,828 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 146,203 | (162,457 | ) | (16,254 | ) |
| TOTAL FUNDS | 146,203 | (162,457 | ) | (16,254 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.5.21 | in funds | 30.4.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 72,082 | 25,325 | 97,407 |
| TOTAL FUNDS | 72,082 | 25,325 | 97,407 |
| HvH Arts Ltd |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2023 |
| 11. | 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 | 360,158 | (334,833 | ) | 25,325 |
| TOTAL FUNDS | 360,158 | (334,833 | ) | 25,325 |
| 12. | RELATED PARTY DISCLOSURES |