Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 April 2024

And signed on behalf of the board by:
Name: Niall Shamma
Status: Director

Profit And Loss Account

for the Period Ended 31 March 2023

Balance sheet

As at 31 March 2023

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2023

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Tangible fixed assets depreciation policy

  Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset over its useful life.- Plant and machinery etc. 25% reducing balance

  Other accounting policies

  - Fund AccountingFunds held by the charity are either restricted funds or unrestricted general funds. Unrestricted funds are funds that can be used in accordance with the charitable objects at the discretion of the trustees. Restricted Funds are used for specific purposes as laid down by the donor. Expenditure which meets the criteria is identified to the fund together with a fair allocation of management and support costs, subject to restrictions on their expenditure imposed by the donor. Capital project restricted funds are those that relateto funding for the feasibility, design and planning work for the early stages of the "Park Hill Art Space" capital project. During this year the project progressed to RIBA stage 2. As there is a degree of uncertainty about the generation of any tangible asset, this expenditure has not been capitalised.- Debtors and creditors receivable / payable within one yearDebtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Notes to the Financial Statements

for the Period Ended 31 March 2023

• 2. Employees

  	2023	2022
  Average number of employees during the period	3	3