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2022-03-31-accounts

Company registration number: 02609490 Charity registration number: 1004137

Emergency Exit Arts (A company limited by guarantee)

for the Year Ended 31 March 2022

(Co No - 02609490)

Emergency Exit Arts

____________ ____________
Contents
Directors' Report 1
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12
Statement of cash flows 13
Notes to the Financial Statements 14- 19

(Co No - 02609490)

Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022

_____________

The Board of Directors are pleased to submit their report and independently examined financial statements for the year ended 31st March 2022.

Reference and Administrative Information

Formed in 1980, Emergency Exit Arts (EEA) is one of the leading outdoor performance companies in the UK, creating high quality and innovative artistic work. The Company runs a core programme of outdoor events, entertainment and participatory workshops with and for local communities, often resulting in free public events that include carnival processions for night and day, street theatre, music and pyrotechnics.

EEA is a registered charity (number 1004137) and is constituted as a company limited by guarantee (number 02609490). Its objects, powers and other constitutional matters are set out in its Memorandum and Articles of Association. These financial statements comply with current statutory Memorandum and Articles of Association and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Registered office Rothbury Hall Azof Street Greenwich London SE10 0EF

Directors

The directors of the company are its trustees for the purpose of charity law but throughout this report are collectively referred to as the directors. The directors serving during the year and since the year end were as follows:

Dana Segal Richard Muncaster (resigned 15[th] June 2022) Benjamin McKnight Alexander Homfray (resigned 8[th] Dec 2021) Teresa Hoey Reuben Alexander Nkosi Massiah Emma Judith Parkinson Dr Sita Thomas Miriam Coral Steiner (appointed 8[th] Dec 2021) Melanie Jayne Wilds (appointed 8[th] Dec 2021)

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ

Independent Examiners

Additude Ltd 9 Rhapsody Court Wakeman Road London NW10 5DF

Page 1

(Co No – 02609490)

Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022 (continued)

_____________

Objects, Aims and Principal Activities

The Company is established “to advance education for the public benefit through the promotion of the arts with particular but not exclusive reference to the performing arts”. In furtherance of these objects the Directors, as charity trustees, have complied with the duty in s.17 (5) of the Charities Act 2011 to have due regard to the Charity Commission’s published guidance concerning the interpretation of the Public Benefit requirement under that Act.

The Company works to a four-year strategic plan 2018-2022. The plan maintains and expands the Vision, Mission and Ethos. The company is regularly funded by Arts Council England’s NPO (National Portfolio Organisation) thereby securing funding to help cover core costs until 2023.

VISION

We inspire change through creativity.

MISSION

  1. Enhancing places by making dynamic and surprising Art in the public realm.

  2. Enabling people to be creative and confident.

  3. Astonishing audiences with moments of wonder.

Every year we:

Everyone deserves the chance to transform their ordinary into the extraordinary. We exist to make a positive difference to people who are discriminated against & those living in economically excluded communities across England. Like Thamesmead: an often-forgotten area of our hometown Greenwich where people are disproportionately affected by funding cuts, surrounded by unemployment and deprivation; Newham - a place where people from different cultural backgrounds collide, yet have very low community cohesion, and the Isle of Sheppey: a remote part of the country where people have very little opportunity for shared cultural activity or employment.

EEA began as an artist collective, born out of a desire to challenge the political notion that there is ‘no such thing as community’. We’ve been co-creating with partners and communities across the country since 1980. As we continue to face rapid social & political challenges, our work is more relevant than ever.

The Company prides itself on its monitoring of activities and embraces negative as well as positive feedback through a process of evaluation with its customers. In the event that any member of the public should wish to lodge a complaint, this should be addressed in writing to the Executive Director and sent to the Company’s principal place of business as shown on page 1.

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(Co No – 02609490)

Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022 (continued)

____________

Principal charitable activities

The principal charitable activity of Emergency Exit Arts is in seeking to meet the above aims. We deliver our services through various outdoor activities, events, carnivals and other projects in schools and in the community.

Public Benefit

Emergency Exit Arts carries out a wide range of activities as detailed in pursuance of its charitable aims. In setting our work programme each year the Directors have regard to the Charity Commission’s guidance on public benefit and ensure activities we undertake are in line with our charitable objectives and aims.

The Trustees are satisfied that the Company’s activities throughout the year provided public benefit because:

Impact of Covid-19 Pandemic

EEA was resilient during the pandemic. We didn’t stop delivering activities to people who needed it most. In 2021-22 (whilst still recovering from the pandemic) we delivered 123 workshops to 6718 participants (slightly reduced on previous years due to pandemic), reached audiences of over 1m, delivered 87 performances & provided volunteering opportunities to 99 people. With support from the Cultural Recovery Fund, we retained all permanent staff & continued to provide work for our large pool of freelance creatives. We worked closely with clients & partners to ensure that events were not cancelled but postponed until they were able to go ahead safely, & pivoted activity online where possible. Working outdoors meant that we were able to come back faster than our colleagues in indoor venues, safely delivering events to audiences in 2021 when others couldn’t. Demand for our work & services is at its highest ever level.

EEA is now also working in consortium with Outdoor Arts UK, Walk the Plank & Without Walls on Boost, an initiative to broaden the production side of our sector to include more disabled people, women & people from Global Majority.

As we move forward, we are putting in place resources & systems to enable EEA & the people connected to us to continue to thrive, deliver efficiently & have minimal impact on the planet’s resources. We are achieving this by developing new partnerships with communities to cocreate work in their neighbourhoods. Whilst doing this we’re continuing to build EEA’s creative voice, profile & reputation as a sector leader by working on high profile, nation-grabbing events.

Review of Achievements and Performance

Whist the Covid-19 pandemic saw a reduction in the number of participants we were able to work with, we are proud of the impact we have managed to achieve, including delivering 123 workshops to 6,718 participants and audiences of over 1m. The pandemic allowed EEA to plan carefully how we might come back stronger in the future. This has been extremely successful with a number of high profile, high impact projects confirmed for 2022 and beyond.

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Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022 (continued)

_____________

Medway Light Nights - a 2-night spectacular in Rochester attracted 60,000 local visitors & engaged 1,100 participants - so popular that the Council have pledged to host it annually.

Walk with Amal Coventry Embraces - a flagship event for Coventry City of Culture, EEA welcomed Little Amal, the 3.5-metre-tall living artwork of a young Syrian refugee child with a spectacular performance featuring sound, light, pyrotechnics & mass ensemble choreography. EEA wowed over 2,500 live spectators & made national headlines.

Recovery Poems - EEA produced & commissioned artists Robert Montgomery & Deanna Rodger to create an inspiring light poem which has toured to over 40 UK towns & Cities, with audiences of over 250,000 during lockdown. We’re currently in discussions to produce 6 more poems over the next 3 years to meet demand.

Hourglass - during the pandemic we commissioned a new, COVID safe artistic creation: a beautiful structure built to show projection-mapped stories in light events.

Love Ashford (2019-2022) - EEA led a 3-year commission by the Economic Regeneration team to help increase footfall in the town centre. We programmed creative events in Ashford that brought the community together & helped change the perception of Ashford town centre. 175,000 people saw our installations; we had 16,150 live audiences for events; 2,961 local people participated in workshops; 30 local businesses got involved; we partnered 12 community groups; and provided sustainable employment for 15 local artists.

Historic England High Street Action Zones – Following an open call, in 2021, Emergency Exit Arts was selected by Heritage England to create a large-scale outdoor celebration of the high street, to be delivered in summer 2023. We will use our expertise in creating memorable participatory events which often include elements of visual performance, pyrotechnics and music. We will engage local communities to run the commission across seven English high streets and will also train local young people in arts production.

Ideal Palace - In 2021, EEA produced this new show which toured around Greenwich. Part audio-theatre journey, part immersive art experience, part interactive trail; Ideal Palace inspires innovation, quench wanderlust, invite playfulness and allow you to be transported around the world using your imagination.

Thamesmead Light the Way - In November 2021 EEA was commissioned by London Borough of Bexley and Peabody to create a one-mile light trail from Lesnes Abbey to Thamesmead, the one-night spectacular attracted audiences of over 5000 from an area of typically low cultural engagement.

Empowering Love - Working with Thomas Tallis Secondary School in Greenwich the Empowering Love programme looked at various elements of what makes a relationship healthy or abusive, with the aim of educating participants and promoting relevant support services. Through the programme, we explored consent, early warning signs, coercive control and sexual harassment among other topics. Students created an exhibition of their thoughts and views.

Greenwich Cultural Educational Partnership - EEA has led on an initiative to start a network of Greenwich based cultural organisations and teachers to work better together. This has proved popular with over 50 people attending our first in-person meeting in Spring and new partnerships forming.

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Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022 (continued)

____________

Activism - Activism has always been a significant element of what EEA does. We are increasingly aware of the need for artists to engage with issues and help to activate members of the public to help make a difference in society.

The Trustees would like to take this opportunity to thank all staff, creative practitioners, funders, participants and members of the public who continue to value the work of Emergency Exit Arts through challenging economic, and politically turbulent times.

Financial Review

The charity made a surplus on its General Funds of £35,870 (2021 – £62,689) in the year. Free reserves (that is, funds which are neither restricted nor designated) increased from £97,972 to £133,842 at 31 March 2022. Total income during the period was £971,052 (2021 - £600,963).

Income fund (restricted): Grants and donations totaling £91,893 (2021 - £322,949) were received during the year. A brief description of the purpose of these funds and the amount of award spent or carried forward appears in note 11. All the restricted income was spent in the year and none was carried forward.

Contingency fund (designated): This fund exists to cover employee costs in the event of a winding up of the Company. The amount calculated to cover such costs, as if the Company had been wound up on 31 March 2022, was established at £50,000.

Structure, Governance and Management

EEA is a company limited by guarantee and a registered charity.

Governance

Responsible governance of the company is exercised through the Board of Trustees who are all directors of the company (‘the Board’). The Board is made up of independent lay members who are responsible for the conduct of EEA and for ensuring that it satisfies all legal and contractual obligations. The directors are volunteers and are not remunerated for their time.

The Board is responsible for setting the strategic direction of the company and is ultimately accountable for how effectively the company meets the defined aims through direct charitable activity. The Board employs executive, administrative and operational staff to engage in activities related to governance as defined by SORP (FRS102) such as strategic planning and direct charitable activities such as advice services to service users.

The Board meets at least four times a year. The Board delegates day to day responsibility to the CEO who is required to attend Board meetings and to report on all operational and financial matters including staff matters and service delivery. The company pays a premium for professional indemnity insurance for its Trustees which is included within the total insurance premium payable each year.

Trustee Investment powers

Investment powers are governed by the Memorandum and Articles of Association. There are no restrictions on EEA’s absolute powers of investment to the extent that any retained funds that arise are dealt with by depositing surpluses into the COIF Charities Deposit Fund or with authorised banks.

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Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022 (continued)

_____________

Trustee recruitment, induction and training

The Board endeavors to make sure Trustees are broadly representative of the local community. EEA recruits Trustees through advertising in local and national media and local VCS organisations. The Board are committed to encouraging applicants from BAME communities and those with disabilities. The Directors and CEO interview suitable candidates looking for experience identified by the Board in its annual skills audit. Suitable candidates attend one meetings of the Board to and if suitable are appointed by election thereafter.

New Trustees are taken through a period of induction and provided with relevant governance documents to help them understand their role and the services provided by EEA.

Management and Staffing Structure

Daniel Bernstein, CEO leads the organisation supported by an Executive Director, Senior Creative Producer and Head of Production who make up the senior management team. Artistic Direction comes from a range of sources including senior management team, freelance directors, producers and designers who are deemed most appropriate for the project or role allowing for greater flexibility and diversity. EEA’s core staffing structure remains small, and relies on freelance Artists, Technicians, Fundraisers and Consultants to remain at low risk financially and reactive to the workload.

Membership Model

In 2021 we updated our Memorandum and Articles of Association to ensure that they are relevant for a company operating in 2022. We have developed a pioneering new model to work with our freelance teams & revived the dormant company membership. EEA now has 8 company members who ensure the interests of our 70+ freelancers are at the core of what we do. Members support EEA to embed artists & freelancers into our decision making, and they have ownership of, and progression within, the organisation. Members attend board meetings & are consulted in key strategic decisions. As well as remuneration, Members have access to increased support from EEA including creative professional development, advice, support, access to the company-wide Employee Assistance Programme. This pioneering model recognises that Board, Staff & Freelancers have a crucial role to play in the co-leadership of the organisation.

Offices and Premises

EEA are in rented premises Rothbury Hall. We are still hopeful of a long-term lease or acquisition of the building. The Company also has one additional storage facility in the Titan Industrial Estate in Deptford for the storage of props and structures from past processions and carnival event. EEA have also been using meanwhile premises next door to us in Azof street before a new development starts, scheduled for June 2022.

Principle Risks and Uncertainties

The Company undertakes periodic reviews for different areas of risk including, insurance cover; health and safety policies in the workplace and whilst performing; working with young children; financial affairs; personnel practices; ICT technology. In relation to these matters, and apart from matters completely outside the Company’s control, the Directors consider that the risks to which the Company is subject have been mitigated to a satisfactory level.

Page 6

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Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022 (continued)

____________

Reserves policy

The Company holds free reserves for a variety of purposes. In a relatively steady operating environment such purposes would include:

The Company’s free reserves stood at £183,842 at 31 March 2022 (2021 - £147,972). The Directors remain of the view that a minimum level of free reserves of £200,000, roughly equivalent to four months of core operating costs, should be maintained though they accept that in these financially constricted times it may take several years before the target is achieved. In the meantime, the Company is committed to ensuring that no further reduction in reserves occurs.

Plan for future periods

In the next 12 months, we aim to:

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(Co No – 02609490)

Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022 (continued)

_____________

Statement as to Disclosure of Information to Statutory Auditor

Each of the persons who are directors at the time when this report is approved confirms that:

Independent Examiners

If the charity still qualifies for an independent examination in 2022-23, a resolution to reappoint Additude Ltd as the company’s independent Examiner will be put forward to the forthcoming Annual General Meeting.

If the charity will reach the audit threshold, then an auditor will be appointed through an open and competitive tendering process.

The directors have prepared this report in accordance with the special provisions relating to small companies within part 15 of the Companies Act 2006.

Approved by the Board and signed on its behalf by:

.........................................

Dana Segal

Date: 07.12.2022

Chair

Page 8

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Emergency Exit Arts

Directors’ Report for the year ended 31st March 2022 (continued)

_____________

Statement of Trustees’ responsibilities

The Trustees (who are also the Directors of EEA for the purposes of company law) are responsible for preparing the Directors’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income or expenditure, of the charitable company for that period.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping proper and adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Emergency Exit Arts

Independent Examiner’s Report to the Directors of Emergency Exit Arts for the year ended 31st March 2022

____________

We report on the accounts of the company for the year ended 31 March 2022, which are set out on pages 11 to 19.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of CIPFA.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in, any material respect, the requirements:

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Andi Dollia, CPFA ADDITUDE LTD 9 Rhapsody Court Wakeman Road London NW10 5DF

Date: 07 Dec 2022

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Emergency Exit Arts

Statement of financial activities for the year ended 31st March 2022 (incorporating an income and expenditure account)

___
Income from:
Note
Donations and
legacies
3
Charitable
activities
4
Investment
Income
Other income
Total income
Expenditure on:
5
Raising funds
Charitable
activities
Support Costs
Total expenditure
Net income
(expenditure)
Transfers between
funds
Net movement in
funds
Reconciliation of funds:
Total funds
brought forward
Total funds
carried forward		 _____
Restricted
£
91,893
-
-
-
91,893
11,773
80,120
-
91,893
-
-
-
-
-		 _____
Unrestricted
£
218,438
660,677
44
-
879,159
87,432
755,857
-
843,289
35,870
-
35,870
147,972
183,842		 ____
2022
Total
£
310,331
660,677
44
-
971,052
99,205
835,977
-
935,182
35,870
-
35,870
147,972
183,842		 ____
Restricted
£
322,949
-
-
-
322,949
15,048
307,901
-
322,949
-
-
-
-
-		 _____
Unrestricted
£
114,483
163,461
70
-
278,014
67,740
147,585
-
215,325
62,689
-
62,689
85,283
147,972		 ____
2021
Total
£
437,432
163,461
70
-
600,963
82,788
455,486
-
538,274
62,689
-
62,689
85,283
147,972

The notes on pages 14 to 19 form part of these financial statements.

Page 11

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Emergency Exit Arts

Balance Sheet as at 31st March 2022

_______
Note
Fixed Assets
Tangible fixed assets

Current assets
Debtors 8
Cash at bank
Creditors: amounts falling due within one year9
Net current assets
Net assets10
Funds
11
Unrestricted:
General
Designated
Total funds		 ____
2022 2021
£
£
- -
25,360
6,460
437,094
404,479
462,454
410,939
278,612
(262,967)
183,842
147,972
183,842
147,972
133,842
97,972
50,000
50,000
183,842
147,972

For the year ended 31 March 2022 the company was entitled to exemption under section 477 of the Companies Act 2006; and no notice has been deposited under section 476. No members have required the company to obtain an audit of its accounts for the year in question. The directors acknowledge responsibility for: i) Ensuring the company keeps accounting records which comply with section 386; and ii) Preparing financial statements which give a true and fair view of the state of affairs of the company as at the year-end in accordance with requirements of section 394 and 395, and which otherwise comply with requirements of the Companies Act 2006 relating to financial statements, so far applicable to the company. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Directors on 07.12.2022 and signed on their behalf by:

Dana Segal Chair, Director

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Emergency Exit Arts

Statement of cashflows as at 31st March 2022

______________
Reconciliation of net income to net cash flow from operating activities*
2022
£
Net income/(expenditure) for the reporting period
35,870
Adjustments for:
Interest from investments
(44)
Depreciation charges
-
(Increase)/Decrease in debtors
(18,900)
(Decrease)/Increase in creditors
15,645
Net cash provided by/(used in) operating activities
32,571
Note
2022
£
Cash flows from operating activities
Net cash provided by operating activities *
32,571
Cash flows from investing activities
Purchase of fixed assets
-

Bank Interest
44

Net cash provided by investing activities
44

Change in cash and cash equivalents in the
reporting period
32,615
Cash and cash equivalents at the start of the period
404,479

Cash and cash equivalents at the end of the period
437,094**
 _ _
2021
£
62,689
(70)
12,841
13,746
171,686
2021
£
260,892
-
70
70
260,962
143,517
404,479
260,892

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Emergency Exit Arts

Notes to the Financial Statements for the year ending 31st March 2022

_____________

1. Accounting policies

a. General information

Emergency Exit Arts is a public benefit entity and a company limited by guarantee, company number 02609490, registered in England. Emergency Exit Arts is also a charity, registered with the Charity Commission (charity registration number 1004137). The registered office and its principal place of business is Rothbury Hall, Azof Street, Greenwich, London, SE10 0EF.

b. Going concern

The trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Charity’s ability to continue in operational existence for the foreseeable future. In arriving at this conclusion the Trustees have taken account of current and anticipated financial performance in the current economic conditions, its business plan and its reserves position. For this reason, the going concern basis continues to be adopted in the preparation of the Charity’s financial statements.

c. Basis for preparation

The financial statements have been prepared under the historic cost convention unless otherwise stated in the relevant accounting policy notes and in accordance with Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1st January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The principal accounting policies that have been applied to all years presented in these financial statements are set out below.

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires Trustees to exercise their judgement in the process of applying the accounting policies. Use of available information and application of judgement are inherent in the formation of estimates. Actual outcomes in the future could differ from such estimates. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 2.

d. Recognition of outstanding employee benefits

No provision for outstanding holiday pay was made under previous UK GAAP. Under FRS 102 the costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employees’ services are received.

e. Fixed assets

Individual fixed assets costing £2,000 or more are initially recorded at cost.

f. Fund accounting

The nature and purpose of each fund is explained in Note 9 to the financial statements.

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Notes to the Financial Statements for the year ending 31st March 2022 (continued)

_____________

g. Financial instruments

The only financial instruments held by the company are debtors and creditors. These are categorised as ‘basic’ in accordance with Section 11 of FRS 102 and are initially recognised at transaction price. These are subsequently measured at their transaction price less any impairment.

h. Income

Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:

Donations and grants are split between restricted and unrestricted funds in accordance with the terms of the grant or donation.

Donations and gifts are recognised in the statement of financial activities when receivable. Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Donated services and facilities are included at the value to the charity where this can be quantified.

Bank interest is recognised on an accrual basis.

i. Expenditure

Expenditure is included in the statement of financial activities on an accruals basis, inclusive of any VAT that cannot be recovered. It is recognised when there is a legal or constructive obligation to pay for it. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff or resources used on those activities.

j. Defined contribution pension scheme

The charity operates a defined contribution scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

k. Leases

Rentals applicable to operating leases are charged to the statement of financial activities over the period they are incurred.

l. Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Fixtures, fittings and equipment 33.33% straight line basis Motor Vehicle 20% straight line basis

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Notes to the Financial Statements for the year ending 31st March 2022 (continued)

_____________

m. Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.

2. Critical judgements and estimates

No critical judgements have been made by management in applying the charity’s accounting policies.

3. Donations and Legacies

Arts Council
Big Lottery Fund
Royal Borough of Greenwich
Charlton Athletic Community Trust
London Borough Of Lewisham
Halley Academy
Greater London Authority
Craftship Enterprise CIC
Without Walls
Lanbury London
Other Grants
Total		 Restricted
Unrestricted
2022
Total
2021
Total
£
£
£
£
-
175,925
175,925
299,041
-
-
-
18,940
58,438
10,000
68,438
36,862
5,455
-
5,455
21,320
-
-
-
5,000
-
-
-
818
5,000
-
5,000
-
3,000
-
3,000
1,350
20,000
-
20,000
-
-
-
-
2,000
-
32,513
32,513
52,101
91,893
218,438
310,331
437,432

There were no unfulfilled conditions or other contingencies attaching to these grants.

4. Income from Charitable Activities

Youth Arts fees
Artistic fees
Total		 Restricted
Unrestricted
2022
Total
2021
Total
£
£
£
£
-
22,749
22,749
2,000
-
637,928
637,928
161,461
-
660,677
660,677
163,461

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Notes to the Financial Statements for the year ending 31st March 2022 (continued)

_____________

5. Total Expenditure

Expenditure
Raising
funds
Charitable
activities
Support
Costs
£
£
Staff costs (note 7)
52,185
191,345
43,488
Materials
-
194,281
-
Rent, insurance
-
-
60,940
Fees
-
343,790
-
Office Overheads
-
-
24,484
Transport and Travel
-
3,105
-
Bank Charges
-
-
110
Auditor / Independent
Examination fee
-
-
2,650
Marketing and other
project expenses
18,804
-
-
Sundry Expenses
-
-
-
Depreciation
-
-
-


70,989
732,521
131,672
Add: allocation of
support costs
28,216
103,456
(131,672)
Total expenditure
99,205
835,977
-
6.
Net income/(expenditure) for the year
This is stated after charging / crediting:
Depreciation
Auditor / Independent Examination fee
No expenses were reimbursed to trustees during the year.		 2022
Total
2021
Total

£
£

287,018
253,410
194,281
21,602
60,940
67,468
343,790
155,479
24,484
17,259
3,105
1,781
110
97
2,650
1,805
18,804
1,157
-
5,375
-
12,841


935,182
538,274
-
-
935,182
538,274
2022
2021
£
£
-
12,841
2,650
1,805		 2021
Total
£
253,410
21,602
67,468
155,479
17,259
1,781
97
1,805
1,157
5,375
12,841
538,274
-
538,274
2022
£
-
2,650

Page 17

(Co No – 02609490)

Emergency Exit Arts

Notes to the Financial Statements for the year ending 31st March 2022 (continued)

_____________

7. Staff Costs

Staff costs were as follows:
Salaries and wages
Social security costs
Pension contributions
 2022
£
259,726
19,641
7,651
287,018		 2021
£
232,656
15,777
4,977
253,410

The average weekly number of staff (expressed as full-time equivalents) during the year was 8.0 (2021: 6.6)

Raising funds
Charitable activities
Support costs
Debtors
Trade debtors
Other debtors
Creditors: amounts due within 1 year
Trade creditors
Taxation and social security
Deferred income
Accruals and provisions		 2022
No.
1.2
5.8
1.0
8.0
2022
£
23,760
1,600
25,360
2022
£
10,737
42,327
199,398
26,150
278,612		 2021
No.
1.2
4.1
1.0
6.6
2021
£
4,860
1,600
6,460
2021
£
44,541
21,593
180,833
16,000
262,967

8. Debtors

9. Creditors: amounts due within 1 year

Page 18

(Co No – 02609490)

Emergency Exit Arts

Notes to the Financial Statements for the year ending 31st March 2022 (continued)

_____________

10. Analysis of net assets between funds

Restricted
Funds
£
Tangible fixed assets
-
Net current assets
-
Net assets at the end of the year
-
11. Movements in Funds
At the
start of
the year
Incoming
resources
£
Unrestricted funds:
General funds
97,972
879,159
Designated Funds
50,000
-
Total unrestricted funds
147,972
879,159
Restricted funds:
Donations and legacies
-
91,893
Total funds
147,972
**971,052 **		 Restricted
Funds
£
Tangible fixed assets
-
Net current assets
-
Net assets at the end of the year
-
11. Movements in Funds
At the
start of
the year
Incoming
resources
£
Unrestricted funds:
General funds
97,972
879,159
Designated Funds
50,000
-
Total unrestricted funds
147,972
879,159
Restricted funds:
Donations and legacies
-
91,893
Total funds
147,972
**971,052 **		 Unrestricted
funds
Total funds
£
£
-
-
183,842
183,842
183,842
183,842
Outgoing
resources Transfers
At the
end of
the year
£
£
£
(843,289)
-
133,842
-
-
50,000
147,972
879,159		 (843,289)
-
183,842
-
91,893		 (91,893)
-
-
147,972
**971,052 **		 (935,182)
-
183,842

Purposes of funds

General funds : these are available for use at the Directors' discretion in furtherance of the objectives of the charity.

Designated funds : these are unrestricted funds set aside at the discretion of the Directors for specific purposes.

Restricted funds : these are donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 19