Artburst Limited 05771971 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Art Education Services Digita Accounts Production Advanced 6.30.9574.0 true 05771971 2022-04-01 2023-03-31 05771971 2023-03-31 05771971 core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 05771971 core:OtherReservesSubtotal 2023-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2023-03-31 05771971 core:CurrentFinancialInstruments 2023-03-31 05771971 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05771971 core:FurnitureFittingsToolsEquipment 2023-03-31 05771971 bus:SmallEntities 2022-04-01 2023-03-31 05771971 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05771971 bus:FullAccounts 2022-04-01 2023-03-31 05771971 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05771971 bus:RegisteredOffice 2022-04-01 2023-03-31 05771971 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 05771971 bus:Director2 2022-04-01 2023-03-31 05771971 bus:Director3 2022-04-01 2023-03-31 05771971 bus:CompanyLimitedByGuarantee 2022-04-01 2023-03-31 05771971 core:FurtherSpecificReserve1ComponentTotalEquity 2022-04-01 2023-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 05771971 core:FurnitureFittings 2022-04-01 2023-03-31 05771971 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 05771971 core:MotorVehicles 2022-04-01 2023-03-31 05771971 6 2022-04-01 2023-03-31 05771971 countries:EnglandWales 2022-04-01 2023-03-31 05771971 2022-03-31 05771971 core:FurtherSpecificReserve1ComponentTotalEquity 2022-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2022-03-31 05771971 core:FurnitureFittingsToolsEquipment 2022-03-31 05771971 2021-04-01 2022-03-31 05771971 2022-03-31 05771971 core:OtherReservesSubtotal 2022-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2022-03-31 05771971 core:CurrentFinancialInstruments 2022-03-31 05771971 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 05771971 core:FurnitureFittingsToolsEquipment 2022-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 05771971 2021-03-31 05771971 core:RetainedEarningsAccumulatedLosses 2021-03-31 iso4217:GBP xbrli:pure

Registration number: 05771971

Artburst Limited
(a company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2023

 

Artburst Limited
(a company limited by guarantee)

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Artburst Limited
(a company limited by guarantee)

Company Information

Directors

Amy Bicat

Penny Embden

Jill Humphrey

Company secretary

Amy Bicat

Registered office

Wynford Community Hall
Wynford Estate
Risinghill Street
London
N1 9SY

 

Artburst Limited
(a company limited by guarantee)

(Registration number: 05771971)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible fixed assets

5

2,522

3,364

Current assets

 

Debtors

6

11,277

14,126

Cash at bank and in hand

 

5,904

3,537

 

17,181

17,663

Creditors: Amounts falling due within one year

7

(2,593)

(11,278)

Net current assets

 

14,588

6,385

Net assets

 

17,110

9,749

capital and reserves

 

Restricted funds

7,327

-

Income and expenditure account

9,783

9,749

Total equity

 

17,110

9,749

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 November 2023 and signed on its behalf by:
 

 

Artburst Limited
(a company limited by guarantee)

(Registration number: 05771971)
Balance Sheet as at 31 March 2023

.........................................
Amy Bicat
Company secretary and director

.........................................
Jill Humphrey
Director

 

Artburst Limited
(a company limited by guarantee)

Statement of Changes in Equity for the Year Ended 31 March 2023

Restricted funds
£

Retained earnings
£

Total
£

At 1 April 2022

-

9,749

9,749

Surplus for the year

-

34

34

Grant income received unspent at year end

7,327

-

7,327

Movements on restricted funds

7,327

34

7,361

At 31 March 2023

7,327

9,783

17,110


 

Retained earnings
£

Total
£

At 1 April 2021

15,870

15,870

Deficit for the year

(6,121)

(6,121)

At 31 March 2022

9,749

9,749

 

Artburst Limited
(a company limited by guarantee)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Wynford Community Hall
Wynford Estate
Risinghill Street
London
N1 9SY
United Kingdom

These financial statements were authorised for issue by the Board on 9 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Other grants

Grant funding is accounted for on the accruals basis. Where funding for specific purposes they are accounted for within restricted funds. Movement on these funds are disclosed within the notes to the financial statements.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Artburst Limited
(a company limited by guarantee)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Furniture, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised initially at the transaction price.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 4).

 

Artburst Limited
(a company limited by guarantee)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Turnover

2023

2022

£

£

GRANT INCOME

Peabody Community Fund

5,084

28,707

Hackney Grants

3,590

13,690

Action for Bow

14,197

7,001

East End Community Foundation

2,449

-

I Can Charity

-

13,393

£25,320

£62,791

OTHER PROJECT INCOME

London Transport Museum

26,275

23,205

The Wimbledon Foundation

5,000

-

Museum of the Order of St John

4,560

-

The Wimbledon Society

4,000

-

Royal Botanic Gardens, Kew

500

10,000

Museum of London

1,055

200

The Theatre Chipping Norton

-

2,620

Peabody Trust

-

2,750

Schools

20,970

13,970

Other workshop income

11,189

4,582

Other fundraising income

-

-

£73,549

£57,327

Total turnover

£98,869

120,118

 

Artburst Limited
(a company limited by guarantee)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

14,979

14,979

At 31 March 2023

14,979

14,979

Depreciation

At 1 April 2022

11,615

11,615

Charge for the year

842

842

At 31 March 2023

12,457

12,457

Carrying amount

At 31 March 2023

2,522

2,522

At 31 March 2022

3,364

3,364

6

Debtors

Current

2023
£

2022
£

Trade debtors

9,011

14,126

Other debtors

2,266

-

 

11,277

14,126

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

3,082

Accruals and deferred income

2,385

7,882

Other creditors

208

314

2,593

11,278

 

Artburst Limited
(a company limited by guarantee)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Reserves

Restricted funds

Peabody Community Fund

East End Community Foundation

Total

At 1 April 2022

£0

£0

£0

Funds received from grant

9,860

5,000

£14,860

Grant expenditure in year

(5,084)

(2,449)

£(7,533)

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At 31 March 2023

£4,776

£2,551

£7,327

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