Burslem School of Art Trust Limited 03899303 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a general public service trust to promote the cultural, economic, physical and social regeneration of the Burslem area and to create, develop and maintain a community facility in particular providing education and exhibition facilities. Digita Accounts Production Advanced 6.30.9574.0 true 03899303 2023-01-01 2023-12-31 03899303 2023-12-31 03899303 core:RetainedEarningsAccumulatedLosses 2023-12-31 03899303 core:CurrentFinancialInstruments 2023-12-31 03899303 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03899303 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-12-31 03899303 core:OfficeEquipment 2023-12-31 03899303 core:PlantMachinery 2023-12-31 03899303 bus:SmallEntities 2023-01-01 2023-12-31 03899303 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03899303 bus:FullAccounts 2023-01-01 2023-12-31 03899303 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03899303 bus:RegisteredOffice 2023-01-01 2023-12-31 03899303 bus:Director1 2023-01-01 2023-12-31 03899303 bus:Director2 2023-01-01 2023-12-31 03899303 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03899303 core:ComputerEquipment 2023-01-01 2023-12-31 03899303 core:LeaseholdImprovements 2023-01-01 2023-12-31 03899303 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-01-01 2023-12-31 03899303 core:OfficeEquipment 2023-01-01 2023-12-31 03899303 core:PlantMachinery 2023-01-01 2023-12-31 03899303 countries:EnglandWales 2023-01-01 2023-12-31 03899303 2022-12-31 03899303 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2022-12-31 03899303 core:OfficeEquipment 2022-12-31 03899303 core:PlantMachinery 2022-12-31 03899303 2022-01-01 2022-12-31 03899303 2022-12-31 03899303 core:RetainedEarningsAccumulatedLosses 2022-12-31 03899303 core:CurrentFinancialInstruments 2022-12-31 03899303 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03899303 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2022-12-31 03899303 core:OfficeEquipment 2022-12-31 03899303 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 03899303


Burslem School of Art Trust Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Burslem School of Art Trust Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Burslem School of Art Trust Limited

Company Information

Directors

P Redmond

N A Dawson

Registered office

Burslem School of Art
Queen Street
Burslem
Stoke on Trent
Staffordshire
ST6 3EJ

Accountants

Howsons
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Burslem School of Art Trust Limited

(Registration number: 03899303)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

589

718

Current assets

 

Cash at bank and in hand

 

7,195

6,687

Creditors: Amounts falling due within one year

5

(32,461)

(32,442)

Net current liabilities

 

(25,266)

(25,755)

Net liabilities

 

(24,677)

(25,037)

Capital and reserves

 

Retained earnings

(24,677)

(25,037)

Shareholders' deficit

 

(24,677)

(25,037)

For the financial year ending 31 December 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 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 August 2024 and signed on its behalf by:
 

.........................................
P Redmond
Director

 

Burslem School of Art Trust Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Burslem School of Art
Queen Street
Burslem
Stoke on Trent
Staffordshire
ST6 3EJ

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The presentational currency is pound sterling (£). The financial statements are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

Government grants

The company use the accruals model to account for government grants. Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, those in relation to expenditure are credited when the expenditure is charged to the profit and loss.

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:

 

Burslem School of Art Trust Limited

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

Asset class

Depreciation method and rate

Long leasehold

1% of cost

Plant and machinery

15 % reducing balance / 5 years straight line basis

Computer equipment

5 years straight line basis

Cafe equipment

20% reducing balance

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Burslem School of Art Trust Limited

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

4

Tangible assets

Office equipment
 £

Café Equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 January 2023

5,325

3,227

2,582

11,134

At 31 December 2023

5,325

3,227

2,582

11,134

Depreciation

At 1 January 2023

5,325

2,797

2,294

10,416

Charge for the year

-

86

43

129

At 31 December 2023

5,325

2,883

2,337

10,545

Carrying amount

At 31 December 2023

-

344

245

589

At 31 December 2022

-

430

288

718

 

Burslem School of Art Trust Limited

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

5

Creditors

2023
 £

2022
 £

Due within one year

Other borrowings

24,090

24,090

Directors loan account

8,023

8,023

Other creditors

348

329

32,461

32,442

6

Loans and borrowings

2023
 £

2022
 £

Current loans and borrowings

Other borrowings

24,090

24,090

Other borrowings

Loan from Burslem Community Development Trust with a carrying amount of £24,090 (2022 - £24,090) is denominated in pound sterling (£) with a nominal interest rate of 0%. The final instalment is due upon demand.

7

Going Concern

These financial statements have been prepared on a going concern basis. Although trading activities have reduced, the directors are willing to support to company for the foreseeable future and will not recall their loans until the company is in a position to repay them.