HASTINGS ARTS FORUM LTD

Company limited by guarantee

Company Registration Number:
07540627 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

HASTINGS ARTS FORUM LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

HASTINGS ARTS FORUM LTD

Directors' report period ended 31 December 2023

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

Principal activities of the company

The purposes of the charity are to advance the education of the public principally in Hastings and East Sussex in all areas of the arts but focusing mainly on the visual arts. All members of the public are eligible to join Hastings Arts Forum Limited upon payment of an annual subscription. The charity runs a gallery to exhibit members’ art work in a regularly changing series of exhibitions. The shows are promoted by newsletter, on the website, through social media and by advertisement, and are open to view by all members of the public. Accordingly, the Trustees believe the charity meets the public benefit test as set out in guidance by the Charity Commission. The charity presently has a policy that precludes the making of any grants.

Political and charitable donations

The charity presently has a policy that precludes the making of any grants.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Raymond McChrystal
Ian O'Leary
Paul Sayers
Jo Welsh
Lesley Barker


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
23 May 2024

And signed on behalf of the board by:
Name: Raymond McChrystal
Status: Director

HASTINGS ARTS FORUM LTD

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 32,124 34,385
Gross profit(or loss): 32,124 34,385
Administrative expenses: ( 28,940 ) ( 26,783 )
Operating profit(or loss): 3,184 7,602
Interest receivable and similar income: 463
Interest payable and similar charges: ( 793 ) ( 594 )
Profit(or loss) before tax: 2,854 7,008
Profit(or loss) for the financial year: 2,854 7,008

HASTINGS ARTS FORUM LTD

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Current assets
Stocks: 3 638
Debtors: 4 765 235
Cash at bank and in hand: 52,513 53,379
Total current assets: 53,916 53,614
Creditors: amounts falling due within one year: 5 ( 17,163 ) ( 19,715 )
Net current assets (liabilities): 36,753 33,899
Total assets less current liabilities: 36,753 33,899
Total net assets (liabilities): 36,753 33,899
Members' funds
Profit and loss account: 36,753 33,899
Total members' funds: 36,753 33,899

The notes form part of these financial statements

HASTINGS ARTS FORUM LTD

Balance sheet statements

For the year ending 31 December 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.

This report was approved by the board of directors on 23 May 2024
and signed on behalf of the board by:

Name: Ian O'Leary
Status: Director

The notes form part of these financial statements

HASTINGS ARTS FORUM LTD

Notes to the Financial Statements

for the Period Ended 31 December 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

    Turnover policy

    Recognition of incoming resources:These are included in the Statement of Financial Activities (SoFA) when:the charity becomes entitled to the resources;the trustees are sufficiently certain they will receive the resources; andthe monetary value can be measured reliably.

    Tangible fixed assets depreciation policy

    These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or a reasonable value on receipt. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:Fixtures and Fittings - 20% straight line

    Other accounting policies

    Expenditure Liability recognitionAssets

HASTINGS ARTS FORUM LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

HASTINGS ARTS FORUM LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Stocks

2023 2022
£ £
Stocks 638
Total 638

HASTINGS ARTS FORUM LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Trade debtors 500
Prepayments and accrued income 265 235
Total 765 235

HASTINGS ARTS FORUM LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Accruals and deferred income 2,733 2,868
Other creditors 14,430 16,847
Total 17,163 19,715

HASTINGS ARTS FORUM LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Financial Commitments

The charity does not have any future minimum lease payments under non-cancellable operating leases but does hold an informal tenancy agreement in respect of the gallery.Future rent and service charge payments due within one year. 2023 - £7,920 2022 - £7,500.