This is a very simple document that shows any income (including grants) and expenditure you expect the group to have over the coming year. If a community group has been in existence for under a year, it will not have annual accounts and a funder may ask to see a financial projection.
The financial year runs from 1st April to 31st March.
Fine art refers to art created purely for the purpose of creative expression. Unlike applied art, fine art has no function beyond being a piece of art. The most common forms of fine art are painting, drawing and sculpture.
See also: Applied art
Raising money to support a project, organisation or cause.