Caseware UK (AP4) 2023.0.135 2023.0.135 2025-05-062023-04-21truetrue10false0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14818670 2023-04-21 2024-09-30 14818670 2022-10-01 2023-04-20 14818670 2024-09-30 14818670 2023-04-20 14818670 c:Director2 2023-04-21 2024-09-30 14818670 d:OfficeEquipment 2023-04-21 2024-09-30 14818670 d:OfficeEquipment 2024-09-30 14818670 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-21 2024-09-30 14818670 d:CurrentFinancialInstruments 2024-09-30 14818670 d:Non-currentFinancialInstruments 2024-09-30 14818670 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 14818670 c:FRS102 2023-04-21 2024-09-30 14818670 c:AuditExempt-NoAccountantsReport 2023-04-21 2024-09-30 14818670 c:FullAccounts 2023-04-21 2024-09-30 14818670 c:CompanyLimitedByGuarantee 2023-04-21 2024-09-30 14818670 d:Subsidiary1 2023-04-21 2024-09-30 14818670 d:Subsidiary1 1 2023-04-21 2024-09-30 14818670 2 2023-04-21 2024-09-30 14818670 6 2023-04-21 2024-09-30 14818670 e:PoundSterling 2023-04-21 2024-09-30 iso4217:GBP xbrli:pure


















Arts & Culture Finance























Unaudited

Financial statements



For the period ended 30 September 2024



Registered number: 14818670

 
Arts & Culture Finance - Registered number: 14818670


Statement of financial position
As at 30 September 2024

2024
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,226

Investments
 5 
1

  
7,227

Non current assets
  

Debtors: amounts falling due after more than one year
 6 
42,802

  
42,802

Current assets
  

Debtors: amounts falling due within one year
 6 
87,204

Cash at bank and in hand
  
323,239

  
410,443

Creditors: amounts falling due within one year
 7 
(460,472)

Net current liabilities
  
 
 
(50,029)

Total assets less current liabilities
  
(42,802)

  

Net assets
  
-


Capital and reserves
  

  
-


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
Arts & Culture Finance - Registered number: 14818670


Statement of financial position (continued)
As at 30 September 2024

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 6 May 2025.




R R Brass
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Arts & Culture Finance
 
 

Notes to the financial statements
For the period ended 30 September 2024

1.


General information

The company is a private company limited by guarantee without share capital and incorporated in England and Wales. Its registered office is 7 Bell Yard, London, WC2A 2JR. The registered number is 14818670.
The company was established for public benefit to support arts, cultural and heritage organizations to become more enterprising and financially resilient.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts

 
2.3

Going concern

At the time of approving the financial statements, the Directors have a reasonable expectation that the Company will have adequate resources to meet both ongoing and future commitments for at least 12 months from the date of signing these financial statements. Accordingly, the Directors consider it appropriate to adopt the going concern basis in preparing the financial statements.

Page 3

 
Arts & Culture Finance
 

Notes to the financial statements
For the period ended 30 September 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 4

 
Arts & Culture Finance
 

Notes to the financial statements
For the period ended 30 September 2024

2.Accounting policies (continued)

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Debtors

Debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 5

 
Arts & Culture Finance
 

Notes to the financial statements
For the period ended 30 September 2024

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from other third parties and loans to other third parties.


3.


Employees

The average monthly number of employees during the period was 10.



4.


Tangible fixed assets





Office equipment

£



Cost 


Additions
10,405



At 30 September 2024

10,405



Depreciation


Charge for the period
3,179



At 30 September 2024

3,179



Net book value



At 30 September 2024
7,226

Page 6

 
Arts & Culture Finance
 
 

Notes to the financial statements
For the period ended 30 September 2024

5.


Fixed asset investments





Investments in subsidiary company

£



Cost or valuation


Additions
1



At 30 September 2024
1





Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Class of shares

Holding

Arts & Culture Finance Partners Limited
7 Bell Yard, London,   WC2A 2JR
Ordinary
100%


6.


Debtors

2024
£

Due after more than one year

Loans receivable
42,802

42,802


2024
£

Due within one year

Prepayments and accrued income
30,237

Loans receivable
56,967

87,204


Page 7

 
Arts & Culture Finance
 
 

Notes to the financial statements
For the period ended 30 September 2024

7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
17,814

Amounts owed to group undertakings
1

Other taxation and social security
15,944

Other creditors
7,738

Accruals and deferred income
418,975

460,472




8.


Company status

The company is a private company limited by guarantee 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.


9.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from
those of the Company in an independently administered fund. The pension cost charge represents contributions
payable by the company to the fund and amounted to £9,945. Contributions totaling £6,738 were payable to the fund at 30 September 2024.


Page 8