| ANNUAL REPORT AND FIN FORTHE YEAR ENDED 31 |
ANCIAL STATEMENTS NIARCH 2022 |
|
|---|---|---|
| Pages | ||
| Directors and advisers | ||
| Purpose | 3-4 | |
| Chair's report | 5-7 | |
| Directors' report | 8-14 | |
| Independent Examiner's |
report | 15 |
| Income and expenditure | account and statement offinancial activities | |
| Balance sheet | 17 | |
| Notes to the financial statements | 18-21 |
| r the year | ended | 3 | 1 March 202 | 2 | ||||
|---|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | funds | ||||||
| funds | ||||||||
| Total | Total | |||||||
| General E |
Designated 5 |
2022 E |
2021f | |||||
| Income | ||||||||
| income from | generated | funds | ||||||
| Voluntary income: grants |
164,106 | 227,564 | 391,670 | 234,852 | ||||
| Interest receivable | 1,849 | 1,649 | 2,682 | |||||
| 164,106 | 229,413 | 393,519 | 237,534 | |||||
| income from | operating | activities | ||||||
| Artistic programmes and |
consultancy | 25,10'I | 25,101 | 15,118 | ||||
| income | ||||||||
| Total income | 164,196 | 254,514 | 418620 | 252,652 | ||||
| Expenditure | ||||||||
| Charitable activities |
||||||||
| Cost ofartistic activities |
programmes | and other | 111,221 | 57,549 | 198,870 | 140,014 | ||
| Support costs | 7,363 | 60,715 | 68,078 | 71,541 | ||||
| Expenditure | on raising | funds | 76,929 | 70,029 | 81,394 | |||
| Governance | 2,320 | 2,320 | 2,220 | |||||
| Total expenditure | 118,584 | 225,713 | 339,297 | 295,159 | ||||
| NET INcoNEi(ExPENDITURE) YEAR |
FoR THE | 45,522 | 33,801 | 79,323 | (42,517) | |||
| Net transfers | between funds | 39,047 | (37,317) | (1,730) | (59) | |||
| Reconciliation | offunds | |||||||
| Fund balances brought 1 April |
forward at | 135,439 | 111.097 | 114,556 | 361,092 | 403,668 | ||
| FUND BALANCES CARRIED FORWARD AT 31 NIARCH |
220,008 | 107,581 | 112,826 | 4401415 | 5361,092 |
| INCOME | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Restricted f |
Unrestricted f |
2022f | 2021f | ||||||
| VOLUNTARY INCOME: GRANTsiOONATIONS |
|||||||||
| Arts Council England | 46,367 | 209,350 | 255,717 | 201,542 | |||||
| Arts Council England, |
Catalyst | funds | to | ||||||
| devolve | |||||||||
| Arts Council England, | Catalyst match fund | ||||||||
| Heart of England | Community | Foundation | |||||||
| Saintbury Trust |
|||||||||
| Garfield Weston | 16,800 | 16,800 | |||||||
| BNItish Council | |||||||||
| Arts & Humanities | Research | Council | |||||||
| Nottingham Trent |
University | 1,300 | 1,300 | ||||||
| Birmingham City |
Council | 11,500 | 11,500 | 10,900 | |||||
| Radcliffe Trust | 3,000 | 3,000 | |||||||
| Turner Trust | 1,000 | 1,000 | |||||||
| Harry Payne Trust | 1,500 | 1,500 | |||||||
| Grimmett Trust |
|||||||||
| Birmingham 2022 |
84,000 | 84,000 | |||||||
| Nottingham Trent |
University | 3,739 | 3,739 | 4,600 | |||||
| The Space CIC | 11,700 | 11,700 | 500 | ||||||
| Shape ofThings | Ltd | 5,900 | |||||||
| National Lottery Community |
Fund | 9,650 | |||||||
| Donations | 1,414 | 1414 | 1,560 | ||||||
| 164,106 | 227,564 | 391670 | 234,852 | ||||||
| INCOME FROM ARTISTIC | PROGRAMIEE &OPERATING ACTIVITIES | ||||||||
| (ALL UNRESTRICTED) | |||||||||
| Touring and workshop |
receipts | 11,675 | 6,972 | ||||||
| Exhibit, stocks and | catalogue | sales | 882 | 755 | |||||
| Full cost recovery | from projects | 5,798 | 2,400 | ||||||
| Consultancy services |
5,996 | 4,606 | |||||||
| Sundry income | 750 | 163 | |||||||
| 25 101 | 15,116 |
| EXPENDITURE |
|||||
|---|---|---|---|---|---|
| Charitable activities |
2022 | 2021 | |||
| E | E | ||||
| COST OF ARTISTIC PROGRAMISE AND OTHER ACTIVITIES | |||||
| Exhibition and projects (marketing, | publicity and catalogue) | 7,532 | 3,663 | ||
| Catalyst funds devolved | |||||
| Transportation, packaging and travel |
7,455 | 4,500 | |||
| Artists' fees and expenses | 39,853 | 30,234 | |||
| Exhibition and Project materials, |
fittings and costs | 9,524 | 11,561 | ||
| Professional fees and costs including | design, | artwork &curation | 44,701 | 10,369 | |
| Core salaries allocated to project | delivery | 85,868 | 77,591 | ||
| Venue rental and hospitality | 2,751 | 1,698 | |||
| Other | 1,186 | 398 | |||
| 198,870 | 140,014 |
| Other | , 1,186 198,870 |
, 398 140,014 |
|||||||
|---|---|---|---|---|---|---|---|---|---|
| Allocation ofoverhead | costs | Charitable | |||||||
| Overhead costs are allocated |
on | a | basis | activities— | |||||
| consistent with the usa ofresources |
Support costs |
Fundralslng costsf |
Governance CostS r |
2022 E |
2021 E |
||||
| WageS and SalarieS (ths average employees in the year was 7 (2021 - yl |
number of | 31,276 | 70,029 | 101,307 | 103,847 | ||||
| Pension costs | 3,769 | 3,769 | 3,601 | ||||||
| Recruitment costs |
|||||||||
| Travel | 1,227 | 1,227 | 316 | ||||||
| Catalyst fundraising | 7,101 | ||||||||
| Printing and stationery |
1,472 | 1,472 | 2,248 | ||||||
| Telephone and postage |
1,967 | 1,967 | 2,151 | ||||||
| Rent, services and insurance | 16,227 | 16,227 | 15,855 | ||||||
| Removal cost | |||||||||
| Independent Examiner remuneration |
2,220 | 2,220 | 2,220 | ||||||
| Depreciation ofowned fixed |
assets | 740 | 740 | 987 | |||||
| Other professional costs |
2,927 | 2,927 | 2,523 | ||||||
| Bank charges | 97 | 97 | 74 | ||||||
| Subscriptions | 662 | 882 | 992 | ||||||
| Training | 1,670 | 1,870 | 533 | ||||||
| Equipment hire and (including IT maintenance |
maintenance contract) |
6,303 | 3,303 | 5,120 | |||||
| Marketing | 1,369 | 1,359 | 6,873 | ||||||
| Business development | 200 | ||||||||
| Board member expenses | 87 | 87 | |||||||
| Other | 960 | 13 | 973 | 514 | |||||
| 68,078 | 70029 | 2 320 | 140,427 | 155,155 |
| 2022 | 2022 | 2021 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5 | 8 | |||||||||||
| Other creditors | 9,996 | 18,892 | ||||||||||
| Other taxes and social | security | 5,934 | 3,733 | |||||||||
| Accruals and deferred | income | 11,166 | 35,571 | |||||||||
| 26 | 996 | 58,196 | ||||||||||
| 8 ANALYSIS OF NET ASSETS BETWEEN FUNDS |
||||||||||||
| General | Designated | |||||||||||
| Unrestricted | Unrestricted | Restricted | Total | |||||||||
| Fund f. |
Funds 8 |
Fund 8 |
E | |||||||||
| Tangible fixed assets | 2,222 | 2,222 | ||||||||||
| Cash at bank and in hand | 124,894 | 107,581 | 220,008 | 452,463 | ||||||||
| Other net current assets/(liabilities) | (14,290) | 14,290 | ||||||||||
| 112,828 | 107,581 | 220,008 | 440,415 | |||||||||
| 7 ANALYSIS OF FUNDS MOVEMENTS |
||||||||||||
| l April | 2021 f |
resources a |
Expenditure r. |
Transfers a |
31 March 2022 s |
|||||||
| Unrestricted Funds |
||||||||||||
| General | 111,097 | 254,514 | (220,713) | (32,072) | 112,826 | |||||||
| These are funds which can be | used in accordance |
with the | ||||||||||
| chanlable objects at the discretion ofthe Directors |
||||||||||||
| Designated —Artistic programme | research | 5 | 11,614 | 11,614 | ||||||||
| development | ||||||||||||
| This iss fund set aside by the | Directors out of | unrestricted | general | |||||||||
| funds for research &development |
||||||||||||
| Designated - creative | producer | 12,137 | (6,786) | 5,351 | ||||||||
| This isa fund set aside by the | Directors out of | unresbtcfed | general | |||||||||
| funds for the Creative Producer scheme and for creative | ||||||||||||
| apprenticeships | ||||||||||||
| Designated —premises equipment storage) 5 |
(including relocation |
display | 14,114 | 14,114 | ||||||||
| This isa fund set aside by the | Directors out of | unrestricted | general | |||||||||
| funds for future relocafion costs | ||||||||||||
| Designated —ITrenewal | 9,391 | 9,391 | ||||||||||
| This is a fund set aside by the | Directors out of | unresoicted | general | |||||||||
| funds for computer and other ITprojects |
||||||||||||
| Designated —Fundraising/business | development | 67,300 | (189) | 67111 | ||||||||
| This isa fund arising from an Arts Council Catalysl | Evolve | match | ||||||||||
| funding scheme, set aside for fundraising activities |
and business | |||||||||||
| development | ||||||||||||
| Total Unrestricted Funds |
225,653 | 254,514 | (220,713) | (39,047) | 220,407 | |||||||
| Restricted Funds | 135,439 | 164,106 | (118,584) | 39,047 | 220,008 | |||||||
| These are funds that can only | be used for pardcular | restriicled | ||||||||||
| purposes within the obfects of |
the charity. Restrictions arise when |
|||||||||||
| specified by the donor orwhen |
funds are raised for | particular | ||||||||||
| restncted purposes |
||||||||||||
| 361,092 | 418,620 | (339,297) | 440,415 |