Bath Arts Workshop Limited - Charities report - 22.2

REGISTERED COMPANY NUMBER: 01114273 (England and Wales)

REGISTERED CHARITY NUMBER: 0266038

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BATH ARTS WORKSHOP LIMITED

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

to

7

Notes to the Financial Statements

8

to

14

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 principal objective of the company is to promote, encourage and increase the appreciation and understanding by the general public of the arts generally, and promote education in all sections of the community of both cultural and creative arts. This is achieved primarily though the performances of The Natural Theatre Company (a trading name) and educational workshops.

Significant activities

This financial year was the first year of full trading post the 2020/21 pandemic. We planned to invest heavily in a programme of new work getting the Company working again. The Board had agreed to £18,000 being taken from reserves to facilitate this. This cash was all earned back in increased fees as many people put on "bounce-back events" and our NLHF project was also able to continue.

- Costumed Interpretation at The Romans, the continuation of this provision. We are now in year one of a new three-year contract.

- Christmas residency at Tyntesfield House.

- Unheard Voices project (WECA funded) finished with a community/Naturals performance tour on 9th April

- A very successful run of Shakespeare Undone in Bath and in Sutton Coldfield

- Many appearances at major events including The Commonwealth Games in Birmingham, Ascot, Glastonbury Festival, Hampton Court Flower Show, Jane Austen Festival, Bath Christmas Market.

- A big increase on performances at Parties and Weddings

- Actor training days and staff training in safeguarding.

- Hidden Heroes - the NLHF funded project ran and completed in Bath, with the project continuing in Filton, Bristol. This involves adult participants as well as young people from the local communities

- Theatre School for young people continues

- We co-produced the Radstock Fayre with Creativity Works for the Queen's Platinum Jubilee.

- We ran workshops in local schools and for local drama clubs.

- We continued and expended our programme of one-to-one work supporting three SEN students

- We created a Christmas Show for families "A Christmas Cracker" at The Rondo Theatre.

Public benefit

The charity objectives and aims are performed with regard to the Charity Commission guidance on public benefit.

Social investments

These were received from:

- performance fees

- The National Lottery Heritage Fund

- donations from local business and trusts

- building hire.

Strategies

Strategies employed to achieve the objectives:

- continued support of several community and education projects, including youth theatres and work experience weeks for young people

- the hire of the studio, workshop and office space

- increased Twitter, Facebook and Instagram activity

Future plans

Our future plans are detailed in our business plan for 2023-6

- to make the company more environmentally friendly, through improving the building insulation and reducing power usage; by recycling and re-using props and costumes; by using shared transport as often as possible

- develop new performances

- continue to develop education/participation strands

- create projects to sell directly to the general public

- to reach new clients through long-term business relationship development

- to continually review the success of the current business plan.

RESERVES

The trustees have decided that £80,000 should be kept in reserve at all times as a contingency. This figure breaks down as follows; £45,000 to cover maintenance of essential services, £15,000 to support the cash flow of the charity and £20,000 for unplanned closure, to meet pay and redundancy costs. This Reserves Policy was reviewed for this financial year.

At the end of the year, the charity had unrestricted net current assets of £149,530.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies House Act 2006.

Trustees and organisational structure

Trustees are appointed by the board of trustees and normally serve for a period of three years, at the end of which time they may seek re-appointment. The minimum number of trustees (a quorum) is three and the maximum thirty. Trustees agree the broad strategy for the company and delegate day to day administration and implementation to the artistic director. The trustees keep the skill requirements of the board under review. New trustees may be sought by open advertisement or through dialogue with candidates with relevant expertise. Selection of new members is a matter for the existing board. On appointment, new members are given an introduction to the work of the company and provided with information about their role and charity law.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01114273 (England and Wales)

Registered Charity number

0266038

Registered office

Widcombe Institute

Widcombe Hill

BATH

BA2 6AA

Trustees

D J Looman (resigned 30.3.23)

P B Eccleson (resigned 25.1.23)

G D Stobart (resigned 20.1.23)

H D Blyth (resigned 25.1.23)

C E Richards (appointed 2.8.22) (resigned 25.1.23)

A P S Born (appointed 8.2.23)

J S Herring (appointed 7.2.23)

J T Walters (appointed 7.2.23)

J Bennett (appointed 3.2.23)

J A W Butterworth (appointed 7.2.23)

Company Secretary

A P Burden

Independent Examiner

Berkeley Hall Marshall Limited

6 Charlotte Street

Bath

BA1 2NE

INVESTMENT POLICY AND OBJECTIVES

The charity has limited reserves and these are generally held in accounts which are readily accessible. The trustees are, however, mindful of their responsibilities and seek to obtain the best returns available within the context of such a policy.

The charity owns the freehold of the building from which it operates. The building is shown as a designated fund in the accounts to distinguish it from readily available funds.

FINANCIAL REVIEW

The financial statements of the charity for the year ended 31 March 2023 show a deficit of £6,998. After taking into account all sources of income, and not including the depreciation of the building, there was a surplus of £6,701.

During the year, the company received £40,466 in grants and donations from the general public, which was used during the year to meet the running costs of the company. The trustees continue to actively review and consider all funding options and the Board has implemented strategies to match income to costs to secure the long term future of the Company.

Approved by order of the board of trustees on 22 November 2023 and signed on its behalf by:

A P S Born - Trustee

Independent examiner's report to the trustees of Bath Arts Workshop Limited ('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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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.

Matthew Small FCA

Berkeley Hall Marshall Limited

6 Charlotte Street

Bath

BA1 2NE

13 December 2023

2023

2022

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2,179

38,286

40,465

86,581

Charitable activities

Performing income

300,914

-

300,914

-

Touring income

-

-

-

198,524

Other trading activities

2

77,289

-

77,289

71,239

Investment income

3

308

-

308

2

Total

380,690

38,286

418,976

356,346

EXPENDITURE ON

Raising funds

10,984

-

10,984

9,494

Charitable activities

Production expenses

301,038

25,641

326,679

251,957

Touring expenses

21,435

1,669

23,104

8,892

Administration

6,002

7,291

13,293

22,957

Overheads

50,584

-

50,584

26,685

Other

4

1,330

-

1,330

1,181

Total

391,373

34,601

425,974

321,166

NET INCOME/(EXPENDITURE)

(10,683

)

3,685

(6,998

)

35,180

RECONCILIATION OF FUNDS

Total funds brought forward

768,072

119,149

887,221

852,041

TOTAL FUNDS CARRIED FORWARD

757,389

122,834

880,223

887,221

2023

2022

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

9

643,410

87,283

730,693

746,726

CURRENT ASSETS

Debtors

10

44,106

-

44,106

44,356

Cash at bank and in hand

89,878

46,042

135,920

130,850

133,984

46,042

180,026

175,206

CREDITORS

Amounts falling due within one year

11

(20,005

)

(10,491

)

(30,496

)

(34,711

)

NET CURRENT ASSETS

113,979

35,551

149,530

140,495

TOTAL ASSETS LESS CURRENT LIABILITIES

757,389

122,834

880,223

887,221

NET ASSETS

757,389

122,834

880,223

887,221

FUNDS

12

Unrestricted funds:

General fund

154,123

154,172

Designated fund

603,266

613,900

757,389

768,072

Restricted funds

122,834

119,149

TOTAL FUNDS

880,223

887,221

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 22 November 2023 and were signed on its behalf by:

A P S Born - Trustee

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, as modified by the revaluation of certain assets.

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.

Improvements to property

-

2% on cost

Motor vehicles

-

15% on reducing balance

Equipment

-

25% on reducing balance

Freehold property is to be depreciated over 50 years, holding a residual value of £200,000.

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.

The restricted fund represents funds received towards the capital building costs to be carried out to transform the premises into more practical workable areas, together with grants from the Arts Council and Bath and North Somerset Council specifically to maintain the artistic programme.

The designated fund consists of funds raised towards the purchase of freehold premises.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	OTHER TRADING ACTIVITIES

2023

2022

£

£

Sundry income

77,289

71,239

3.	INVESTMENT INCOME

2023

2022

£

£

Bank interest received

308

2

4.

OTHER

2023

2022

£

£

Accountancy

830

681

Independent examination

500

500

1,330

1,181

5.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023

2022

£

£

Depreciation - owned assets

16,033

16,534

6.	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.

7.	STAFF COSTS

Staff costs :

2023 2022

£ £

Salaries and performance fees 395,092 281,175

Social security costs 3,999 2,781

Total 399,091 283,956

The average weekly number of employees during the year,

including the services of performers who retained reserved

self-employed status, was 47 part time and 2 full time (2022 - 47 part time and 2 full time)

No employee received emoluments of more than £60,000 during the year.

The average monthly number of employees during the year was as follows:

2023

2022

Administration

2

2

Performers

47

47

49

49

No employees received emoluments in excess of £60,000.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

72,307

14,274

86,581

Charitable activities

Touring income

198,524

-

198,524

Other trading activities

71,239

-

71,239

Investment income

2

-

2

Total

342,072

14,274

356,346

EXPENDITURE ON

Raising funds

9,494

-

9,494

Charitable activities

Production expenses

243,498

8,459

251,957

Touring expenses

8,809

83

8,892

Administration

20,492

2,465

22,957

Overheads

26,685

-

26,685

Other

1,181

-

1,181

Total

310,159

11,007

321,166

NET INCOME

31,913

3,267

35,180

RECONCILIATION OF FUNDS

Total funds brought forward

736,159

115,882

852,041

TOTAL FUNDS CARRIED FORWARD

768,072

119,149

887,221

9.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Motor

property

property

vehicles

Equipment

Totals

£

£

£

£

£

COST

At 1 April 2022 and 31 March 2023

650,000

234,908

25,321

123,245

1,033,474

DEPRECIATION

At 1 April 2022

108,000

44,258

13,479

121,011

286,748

Charge for year

9,000

4,699

1,776

558

16,033

At 31 March 2023

117,000

48,957

15,255

121,569

302,781

NET BOOK VALUE

At 31 March 2023

533,000

185,951

10,066

1,676

730,693

At 31 March 2022

542,000

190,650

11,842

2,234

746,726

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

33,588

25,884

Other debtors

-

9,150

VAT

1,196

-

Prepayments

9,322

9,322

44,106

44,356

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

11,903

942

Social security and other taxes

563

562

VAT

-

6,684

Other creditors

5,183

1,359

Accrued expenses

1,357

1,357

Deferred income

11,490

23,807

30,496

34,711

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.22

in funds

31.3.23

£

£

£

Unrestricted funds

General fund

154,172

(49

)

154,123

Designated fund

613,900

(10,634

)

603,266

768,072

(10,683

)

757,389

Restricted funds

Restricted funds

119,149

3,685

122,834

TOTAL FUNDS

887,221

(6,998

)

880,223

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

380,690

(380,739

)

(49

)

Designated fund

-

(10,634

)

(10,634

)

380,690

(391,373

)

(10,683

)

Restricted funds

Restricted funds

38,286

(34,601

)

3,685

TOTAL FUNDS

418,976

(425,974

)

(6,998

)

Comparatives for movement in funds

Net

movement

At

At 1.4.21

in funds

31.3.22

£

£

£

Unrestricted funds

General fund

111,624

42,548

154,172

Designated fund

624,535

(10,635

)

613,900

736,159

31,913

768,072

Restricted funds

Restricted funds

115,882

3,267

119,149

TOTAL FUNDS

852,041

35,180

887,221

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

342,073

(299,525

)

42,548

Designated fund

(1

)

(10,634

)

(10,635

)

342,072

(310,159

)

31,913

Restricted funds

Restricted funds

14,274

(11,007

)

3,267

TOTAL FUNDS

356,346

(321,166

)

35,180

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.4.21

in funds

31.3.23

£

£

£

Unrestricted funds

General fund

111,624

42,499

154,123

Designated fund

624,535

(21,269

)

603,266

736,159

21,230

757,389

Restricted funds

Restricted funds

115,882

6,952

122,834

TOTAL FUNDS

852,041

28,182

880,223

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

722,763

(680,264

)

42,499

Designated fund

(1

)

(21,268

)

(21,269

)

722,762

(701,532

)

21,230

Restricted funds

Restricted funds

52,560

(45,608

)

6,952

TOTAL FUNDS

775,322

(747,140

)

28,182