for the Period Ended 31 December 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2023
Principal activities of the company
Additional information
Due to the financial status of the Foundation and the challenging external environment in relation to raising funds, the Trustees have determined that the Foundation will not be able to continue in operation for more than a year and consequently these accounts have not been prepared on the going concern basis Art360 Foundation has been focussed on completing existing projects in 2023 as it winds down its activities. The Foundation received funding from the Arts Council UK for a new project called Recollect that will provide ten artists with bursaries to assist them with the archival of their work. In 2024 it was agreed with the Arts Council that this project and associated funds, be transferred to DACS who will complete it. On dissolution, any net assets after the charity’s debts and liabilities have been paid, will be distributed in accordance with Clause 6 of Art360 Articles of Association to a charity with for purposes similar to the Objects or to a charity for particular purposes that fall under the Objects. Each recipient to our bespoke archival programme, receives practical support and consultation towards archiving and legacy planning, which takes place over a 12-month period with flexibility around activities and timeframes. The types of practical support we offer include: Inventory-building Cataloguing Database creation and implementation Analogue, film and video digitisation Production of a documentary film on the studio and archive (essential) Legal consultation (essential)
Directors
The directors shown below have held office during the whole of the period from
1 January 2023
to
31 December 2023
The directors shown below have held office during the period of
1 January 2023
to
4 August 2023
The director shown below has held office during the period of
3 May 2023
to
31 December 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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2023 | 2022 | |
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£ |
£ |
Turnover: |
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Gross profit(or loss): |
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Administrative expenses: |
(
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(
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Operating profit(or loss): |
( |
( |
Profit(or loss) before tax: |
( |
( |
Profit(or loss) for the financial year: |
( |
( |
As at
Notes | 2023 | 2022 | |
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£ |
£ |
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Current assets | |||
Debtors: | 3 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 4 |
(
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(
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2023
Basis of measurement and preparation
Other accounting policies
for the Period Ended 31 December 2023
2023 | 2022 | |
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Average number of employees during the period |
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for the Period Ended 31 December 2023
2023 | 2022 | |
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£ | £ | |
Trade debtors |
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Prepayments and accrued income |
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Total |
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for the Period Ended 31 December 2023
2023 | 2022 | |
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£ | £ | |
Trade creditors |
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Accruals and deferred income |
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Total |
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