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|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|
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|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|
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|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|
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|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|
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|||||||||||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|