REGISTERED COMPANY NUMBER: 02692770 {England and Wales) REGISTERED CHARITY NUMBER: 1011599 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR PEAK - ART IN THE BLACK MOUNTAINS LTD (A COMPANY LIMITED BY GUARANTEE) Graham Paul Limited Court House Court Road Bridgend CF311BE
PEAK - ART IN THE BLACK MOUNTAINS LTD CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees 1 to 13 Independent Examinerfs Report 14 Statement of Financial Activities 15 Balance Sheet 16 Notes to the Financlal Statements 17 to 27
PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with th8 financial statements of Ihe charity for the year ended 31 March 2024. Th8 trustees have adopted the provisions of 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 {FRS 102) {8ffective 1 January 2019).
PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Objectives and aims Objects Peak Art in the Black Mountains (operating as 'Peak' and 'Peak Cymru,) was established as a charity in 1992 under the name 'Arts Alive,. Our charitable objects are: to benefit the communities of Wales (without distinction of sex or of political, religious, or other opinions) by advancins education and providing facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life., - to advance education and promote appreciation and involvement in the arts. What we do Peak Cymru was founded thirty years ago as an experimental creative spaca for children. It has evolved into an organisation which collaborates with Young Peop18 (14-25 years), Artists and Intersenerational Communities at our two sites in Southeast Wales - Platfform 2 at Abergavenny Train Station and The Old School, Crickhowell - and from rural locations such as mountains, c8ves and canals. We work across the Southeast Wales region including the Black Mountains, the Welsh Borders and Vale of Usk as well as developing national and Intemational partnerships. We celebrat8 the uniqu8 quallties of our region through programm8s whSch connect people and place. We prioritlse cr05s-disciplinary ways of working, connecting our collaborators with diverse practitioners Including eGologists, geologists. musicians, wrlters, gardeners and designers. We offer time, space and resources, foregrounded in contemporary vlsual arts practices, for those lacking cultural opportunities and facing additional barriers of mental ill-health, neurodivergence, 8nd low income. We prioritise divérsity and Inclusion, working with different materials. practices and knowledg8 Systams, exploring ways to live now and the cre8liv8 potential of living and working in rural contexts. Strategic Aims Work with, and for, Young People Be a good neighbour Support artist. curator + cross-disciplinary r8search Root global conversations in the local Celebrate the unique qualitie5 and ecologies of our region Build f ield5 + be a catalyst for change - Act ecological Howwedoft -we prioritise creating well-paid, supported and flexible working conditions for staff, artists, Young People and collaborators we work with. We transfer resources directly to the Young Peopl8. offering paid bursaries for tim8, travel and materials. -We're committed to actively ensuring equity, access and diversity in our programme and organisational structures. supporting people with diverse backgrounds, lived experiences and identities. We prioritise climate justice for all species. -we embrace Cymraeg across our programme, communications 2nd practlC8S With a lono-term vision to embrace multilingual ways of working. -We're committed to building income generation that is sustainable and holistically allgned with our mission and values, from ethical future-facing sources.
PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Why we do it Wa believe: artists build worlds and imagine and manifest n8w ways to live - Young Peop18 are at the forefront of change; thay need support. solidarity and empowemient to do thé work of the future multiple ways of thinking, communicatlng, making and being ar& needed in a wotld where all sp8CieS thrive Where we work We work with individuals and communities across the county boundaries of Powys, Monmouthshire, Torfaen, BlaenaGWent and Merthyr Tydfil, wrapping around the length of Ihe river Usk, from: Yr Hen Ysgol {The Old School) near the small town of Crug H1 in the 8recon Be8cons N8tional Park. The site has a large and airy studio. kiln facilities, a community kitchen, Peak's offices and (currently in development), a community garden. Preparing and sharing food together is valued by staff, partners and collaborators, and is considered integral to hosting across our programmes. Gorsaf Dr8nau'r Fenni (Abergavenny Train St8tlon) the last stop on the trainline into and out of Wales in the town of Ab8rgavenny, on the busy Welsh Marches line (100,000 annual passenger joumeys from Abergavenny). We have a reading room and studio space on Platfform 2 (direction Cardiff Centrall and are d8veloping artist studlo spaces in the main station building in partnership with Transport for Wales. Eln tirlun gwledig (Our rural landscape) where the complexilies of its geology, history. archaeology, ecology and economy is the grounding for our work with partners and collaborators. A talk, a workshop, or a walk might take us uphill onto the Iron Age hillfort of Crug 14ywel amongst kites, buzzards and wild horses, or downhill to the rlver Usk or along the Monmouthshire & Br8con Canal. Who we work with Artists Peak works wllh artists. Curators and cr88tive practitioners at 811 stages of career, especially those al the beginning of developing their practi. We work with them in community settings., their work is responsive to the distinctive context of bilingual, rural Wales at a time of ecological crisls. Peak, and the wider arts sector, has a duty to ensure fair payment for artistlc 8xpertise, administration, meetings. ras8arch and production. and to provide opportunities for training, clear organisational structures and support for access, health and wellbeing. Young People 'Nearly a quarter of young people are telling us that they will n8ver recover from the emotlonal impact of the past two yaars, highlighting increasing feelings of anxiety. burn out and stress as negatively impacting their wellbeing." (Johnathan Townsend. Chiaf Executive, The Prince's Trust). The Prince's Trust Natwest Youth Index 2022 reflects the stark reality of how the pandemic has affected Young People's m8ntal health knith 48 % experiencing a mental health problem. as well as havlng a negative impact on their relationships and feelings about the future. These effects are amplified in the rural contexts in which we work. Powys is the largest county in Wales and the most sparsely populated, with the highest out-migration of 15-25 year olds (ONS Census 20211. Specific rural challenges faced by Young People include social isolation, lack of access to seNices such as public transport, higher education and libraries, unreliable broadband and mobile connectivity. P82k cannot 'gap fill, for this lack of support. however young people tell us that our creative and inclusive social spaces offer acceptsnGe, friendship and open creative outputs and have a positive impact on Young People's wellbeing. skills and careers development. The intersecting forces of covid, the climate crisis and economic precarity underscore that Peak's creative programme needs to 'Work with, and for, Young People,.
PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 026927701 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Rural Communities Peak works with intergeneralional rural communities in the counlies of Powys (the Most sparsely populated county in Wales), Monmouthshire and 'post- induslrial, Heads of the Valleys where over 50'k of land use is non-urt)an. Research by the Joseph Rowntree Foundation has highlighted the high levels of deprivation in rural areas, where people typically need to spend 10-20Yo more on everyday living than those in urban areas. The biggest differ8nce is Ihe lack of access to public servicas and transport. social isolation, unaffordabl& housing and unreliable digital connectivity. Peak is committed to making its sites opan, accessible and welcoming spaces for intergeneralional communities. th8 development of a community garden at Yr Hen Ysgol will enhance the site as an everyday Tesource for residents and neighbours. ACHIEVEMENT AND PERFORMANCE Charitable activities The trustees have considered th8 Charity Commission's guidance on public benefit and how our aclivity meets the aims and objectives we have set for our artistic programme and for our organisation. Overview 202&24 was a significant year for Peak Cymru as Chief Executive, Justine Wheatley, retired 8ft8r many years of successfully leading the organisation. Towards Peak's new sirategic aims (Strategic Pl8n rewritten in January 2023). Peak transitioned to a tleadershiP model. lad by Melissa Appleton ICo-Director Strategy and Programme) and Louise Hobson {Co-Director Operations and Programme). Arts Council Wales, Investment Review procesg awarded Peak Cymru inv8Stmenl funding of £76,811 per annum (8 3Q/o reduction on Peak's previous agreement). Other notable funding awards included: multi-annual support from Paul Hamlyn Foundation (2023-26), supporting a new Co-Director for Young People and paid Young People's development roles., Strategic Priority Funding, 'Powys Making a Difference Fund, (2023-24) managed by Powys Association of Voluntary Organisations (PAVO) to develop the first stage of a new communty gardan at Peak's Old School site. Towards its strategic aim of worklng with, and for, Young People, P8ak embedded programme strands for Young People. Open Stiwdio (14-18 years) and Peak Peers 118-30 years), th8 latter supported by an openly-recruited Peak Peers Curator, Ellen Wilson, wilh significant experi8nce in Youth Work. Peak continued to support Wales, U.K. and Ireland-based artists and cur8lors through artist residencies at Platfform 2, Peak's space at Abergavenny Train Station and as delivery partner on the Future Wales Fellowship programme12023-251 and Jerwood Curatorial Accelerator programme (2023). A new Community Coordinator role, underlaken by Polly Huntgr, transform8d Peak's Old School site, embedding community partnerships and activity, increasing incomes from community hlres and initiating the first stage of a new community garden.
PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Artistlc Programme Hlghlights Young People In 2023-24, Peak conlinued to embed its Young People's work across t0 strands Open Stiwdio (14-18 years) and Peak Peers (18-30 years). In November 2023 Peak was awarded Paul Hamlyn Funding lo create Peak's first ever leadership role dedicated to Young People and funds to support p8id development roles for YP and Youth Governance work. Recruitment for Co-Director: Young People & Programme was launched early in 2024, with an appointment made in the next financial year. Applications and selected cohcrts across Peak's YP programmes exceaded diversity targets across socio-aconomic factors, Global Majority identity and disabilty. Strengthened by partnership working and establishing repeat progrsmmes across years. Peak Peers (18-30 years) Peak Pe8rs is Peak Cymru's keystone programme and central in refocusslng the organisation's work wlth and for Young People. It is a developmeni programme invitlng Young People lo explore questions of climate change. land rights, biodiversily and creativity rooted in the Black Mountains. The inaugural programm8 (developed from pilot Platfform H8f in 20221 took place across long weekends in October 2023 with a group of 11 Young People, An open call attracted 37 applications including 600k of applicants from lower socioeconomic backgrounds. 27'k who identify as disabled and 110/0 Wlth Global Majority identities. The sélection panel induded two Young People who had previously tsk8n part in Peak programmes; selection W8s carefully monitored to raflect tha same diversity in the cohort as demonstrated in applications. Every participant r8ceived a bursary to cover their travel and expenses. In part one, participants explored the deep time of the Usk Valley and learnt from agricultural practices and intergenerational land stewarding projects. The programme included.. a walk with geologist Alan Bowring. creative writing with poet TaOr Edmonds: a visit to 'The Penpont Project., an intergenerational land stewarding project near Brecon: exploring ideas of 'Water as Kin. with ecologist Fin Jordao., learning about methodologies from organic farming with artist Phoebe Davies and farmer Polly Davies of Slade Fami Organics,. watching artist Ma8 Arsanios, film, Who is Afraid of Ideology IV.. Reverse Shot., and exploring relationships to land and place with Sophie Mak-shram. In part two, participants explored speculatlV8 storytelllng as a way to shift humen relationshlps with a planet in climate crisis. They created their own wealher ststion with Open Weather, learning how to decode transmissions from satellites- vlsited the L18ngattock E5carpmenl with artist Rebecca Jagoe, to think about language, animacy and time., met viith Right to Roam campaigner and writer Jon Moses to discuss land ownership and access., and drew th8 programme to a Glose by hosting a day of Ihe dead celebration, led by one of the Peak Peers. Most Signlficant Change evaluation activity (a new evaluation methodology for Peak) was undertaken in November 2023 with external evaluator Jenny Peevers. The group reported significant changes including: increased confidence in one's own cr8ative processes- expanded and shifting perspectives about relationship to land: being moved and in awe of naturelfeeling more connected to the land and Ihe univ8rse' a safe space to express oneself as a radical act in a capitslist society., and empowered to h8ve access lo different and axpansive knowledges. Opon Stiwdlo (1&18 years) In July 2023 Peak hosted Open Stiwdio, a development from Criw Celf (2014-2020), an intensive 'masterclass' craative programme led by Peak as a oommission from Powys County Council and Arts Council Wales. Over four days, a group of eight Young People from Monmouthshire and South Powys worked with guest artists. writers and filmmakers. The programme included.. creating stories, maps and tools lo imagin8 100 years into the futur8 With writer and artist Radha Patel,. pattern cutting and clothes making with costume designer and artlst George H. Wale. filmm8king and editing with photographer and filmmaker Zillah Bowes., sound and oral histories with sound artist Heledd C Evans.
PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770} REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Artists Bella Milroy Rèsldencyj In partnership with Arcadecampfa In July 2023 Peak hosted Bella Milroy at Abergavenny Train Ststion jointly prograrnmed with Arcadecampfa. Bella Milroy is an artist and wriler who works responsively through mediums of sculpture. drawing, photography, text, writing, gardening and curating. Sh8 makes work about rnaking work (and being disabled) and not being able to make work land being disabled). This process-based practice is fundamental to her as disabled artist. She is continually motivated by concepts of public and private spaces and where the sick andlor disabled body exists within them, themes which emerge throughout much of her work. Yellow Back Books, a reading room and artist book shop project hosted Arcad8Campfa. hosted a con-current pop-up at the staiion. Toyosi Adenuga, Pegwn Artist Residency Toyosi Adenuga spent a week in Abergav8nny in October 2023, selected through an Op8n Call process for Peak's first Pegwn artist residency. Reflecting on the residency. Toyosi said. I've been curious about the diasporic future of Yoruba and to what ext8nt knowledge of its language and culture is affected by connections to particular spatial environments. Baing in dialogue with Pégwn's enquiry was room tc revisit and also questionlchallenge certain ideas I had about the relationship belween home and land...The residency was a reminder that my Yoruba identity exists within my Ire)memory, Its ways of knowing are flexible and embodied within my being. Before the residency, I hadn't realised to what extent this was embedded within my praclice and I'm discovering thal there's so much more., To close the residency. Toyosi hosted a18nguage reclamation workshop, hosling a walk from Platfform 2 to the River Usk. Sean Edwards Following on from Sean Edwards, recent exhibition, FOR WHAT WE HAVE (part of The Common Guild's 'Anywhere in the Universe,, project centring the public library), Peak hosted S88n at Platfform 2, October December 2023. In FOR WHAT WE HAVE, Sean made a series of small-scal8 sculptur8s designed, like books, to b8 held In Ihe hand and clos8 to the body, ané to sit on the shelves of a Ilbrary. Considering the library catalogue as a site for sculpture, each work was assigned a unique shelf mark and entered into the Ilbrary sysiem. Through his residenGy with Peak, Sean continued researching the library as a space Imbued with a subtle and enduring political consciousness. On Thursday 7th December, Sean Edwards was in conversation with writer Jude Rodgers. David Cleary In February 2024 Peak hosted curator David Cleary at our Platfiorm 2 reading room, for a curatorial residency supported by Jemood Arts. This residency followed on from Peak's participation as a host organisation in Jerwood's Curatorial AcleratOr Programme. David Claary is based in Ncrth Wales and his curatorial practice seeks to improve access to cultural and natural spaces. During hi5 residency, David undertook research towards the development of Conveyor - a nomadic arts initiative and curatorial platform which seeks to support artislic collaboration with people and place in North Wales. David's research included conversations wilh curators to consider entangled practices in relatlon to queemess, disability and working-class cultures. Future Wales Fellowshlp In November 2023 Peak was selected via an open call to be the 8rts partner for the Future Wales Fellowship programme 2024125, a partnership betW8en ACW, Natural Resources Wales, The Elan Valley Trust and National Trust. The Fellowship supports eight Wales-based artists to develop research exploring the complex relationship between humans. living species, place and clirnale. It aims to cultivate the relationship between the arts and Ihe natural environment, as part of a shar8d commilment to improv8 the environmental and cultural well-being of Wales. Peak's role is to develop and hosting a development programme combining curatorial dialogu8, mentoring and support- including three resldential visits with gu8St practitioners basad at partner sites. The first resldential took place in February 2024 at th8 Stackpole Estate. Pembrokeshire.
PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Jerwood Curatorlal Aelerator (JCA) JCA was a development programme, led by Jerwood Arts, for working-class early-career curators, combining mentoring. online learning and tWOThday visits to seven visual arts organisations across the UK. Peak hosted the group in May 2023 as one of the programme partners. We set out to share the processes, practices and ways of working we support at Peak and hosted visits to several local landscapes and ecological siles. Contributors included Kandace Siobhan Walker, Owen Griffiths, Alan Bowring and Penny Hallas. Further information: httPS:Iljerwoodartsarchive.orglprogrammefJerwood-curatorial-acceleratorl Interyenerational Rural Communities Cultural Partnershlps Peak partnered with Abergavenny Food Festival and The Angel Bakery for 2023's Abergavenny Community Feast, held in Abergavenny Market Hall. Peak commissioned artist and gardener Gwenllian Spink to respond to the Feast's theme of 'The Kitchen Garden,, with whom w8 previously collaborataé on last yearfs Pegwn and Platfform Haf programmes. Gwenllian Spink responded ta the brief by looking to oral histories of folk rernedies embodied in Welsh-speakins communities and produced an artist's edition of 350 works for the fest tables. Partnershlps and Communlty Resources at The Old School Pottery for Wellbeing, a provislon delivered in partnership with Brecon & Dlstrict Mind continued at the Old School,. th8 new Community Coordinator role, undertaken by Polly Hunter, d8veloped new community hires and partnerships including Crafter's Café with Fathom Trust, an accessible weekly craft-based group based at the Old School. Our Plot Peak was awarded funding through the Powys Sh8red Prosperity Grant Fund Scheme in Oclober 2023, enabling the first phase in our plan to develop the Old School yard into a community gardenlaccessible green space. In early 2024. we worked with Peek Peers alumni <18-3Q years) and invited guests to establish series of pemiaculture principle for the sit8 and programme which will act as a framework for work with differ8nt groups across 2024-25. Planning was undertaken for Our Plot, a new residents drop-in gardening and creative group, anchored around a new community garden at the Old School and PlaylGround, a new programme for Young People114-18 years) offering design, horticultural and creatlV8 activities and shaping the future development of the garden.
PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Organlsational Activity Intemal Context Co-Leadership Model During 2023-24, the Peak team transitioned to a CleaderShip model following the resignation of Executive Director Justine Wheatley after 144 years in the role working towards greater diversity in the leadership team. In Summer 2023 Melissa Appleton transitioned from her role as Director of Programme to CowDirector (strategy and programme) and Louise Hobson from Deputy Director to Co-Director {operations and programme)- In late 2023. Peak received confirmation of Paul Hamlyn Foundation and Art Fund funding. underpinning a third Co-Director role for Young People and Programme. Recruitment planning was undartaken in late 2023 and a widely shared open call launched in early 2024 for Co-Director IYP and Programme). Governance Peak undertook a review of the Board and a recruitment process In 2022-23, recruiting three new Boarcl members. These Board members bedded-in in 2023-24. Through this process Peak strengthened skills and experience within its leadership and management, and new Board Mambers actively engaged in recruitment, programmes and training as and wh8r8 appropriat8. Abby Poulson stepped down as a member of the Board at the AGM in November 2023. -Further recruitment is planned for 2024-26 with two new locally-based trust88S Wlth wide experience in food systems, sustalnability and business approached at the end of 2Q23-24 being appoinled at Peak's AGM, October 2024. -Further diversity-focused board recTUitment is planned from 2025126. acknowledging the need to further expand the breadth of lived experiencas engaged in future decision making. -Paul Hamlyn Foundation support will enable development of Peak's YP governance in 2024125, underpinned by the incoming Co-Dir8Ctor (Young People & Programrne). Communlty Coordlnator Role A new role of Community Coordinator (recruited In May 2023) strengthened snd initiated new community partnerships (including Mind, Credu, The Fathom Trust ané local wellbeing providers), expanded ntergeneralional community use for wellbeing whilst increasing earned income from hires, and planned community garden pilot project and associated creative programme at Peak's Old School sit8 for the benefit of local people, acting as a hub for future trans-dlsciplinary and cross-border programming. S¢¢tor Contributlon -Louise Hobson was selected to take part in a-n Curator Bursaries.. Exploring Northern Ireland 2024. Designed to encourage UK-wide exchange and collaboration, a-n Curator Bursaries.. Exploring Northem Ireland 2024 will connect curatots with artists and colleagues in Belfast and DerrylLondondery, opening opportunities for18arning and exchang8. -melissa Appleton, Loulse Hobson and Justine Wheatley attended the opening of Liverpool Biennale 2023. meeting artist-led ané rurally-based organisations at this key regional event. -melissa Appleton undertook de Appel's Guralorial Rese8rch Fellowship 2023124, a legacy of the Curatorial Programme 2022 and was part of the selection committee that selected John Akomfrah for the British Pavilion. L8 Biennale di Venezia 2024. External Context Cost-of-livlng Pressures Cost-of-living increases centinue to impact P8ak staff and collaborators wilh daily rural living costs averaging 20°/o higher than urban communities. To help address this, Peak implem8nt8d practical measuros including a 6% employed staff pay increase. 25'k freelance day rate rate increase and increased Young People's bursaries across programmes.
PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770) REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Young People's Mental Health & Climate Anxlety Young People conlinu8 ta experience profound impacts as a legacy of the pandemic, reinforced by deepening climate anxiety. A high percentage of programm8 applicants disclosed social anxiety and mentsl health conditions. shaping decisions around programme structures. partnerships, contenl 8nd governance. Our evaluation indicates that Peak's programmas have positlV8 impact as friendly. supportive and inclusive spaces, in communities with limited work, education and cultural opportunities and often without statutory youth provision. Transport for Wales (fFW) Partnership - spaces at Gorsaf Y Fenni (Abergavenny Traln Station) Complex external relationships between Nebmork Rall ané TFW have continued to preven progress on realising affordable station-based studio spaces at Y Fenni Train Station but we8 Plvoted to provision al our Old School site and are exploring other options for accessible, sust8in8ble rural studio Spa options. We continue to advocate for future studio provision at Abergavenny station through our positive ongoing relationships with TFW leadership and local staff. A new passenger lift. opening in early 2025, will unlock future potential, FINANCIAL REVIEW Financlal position In 2023124 Peak received £279,143 of statutory funding and incom8 from trusts and foundations. This includes multi-annual funders.. £120,156 from Arts Council of Wales (including £76,811 investment funding 2023-27),. £60,000 from Paul Hamlyn Foundalion {2023-27)', £30,000 core funding from Esmée Falrbairn Foundation (2022-24),. £22,500 from ArtFund12023-25)- and further project-based grants from Ashley Famlly Foundation. National Lottery Awards for All and Powys Associatlon of Voluntary Organisations. Peak receiv8d further income from partnershiplhost contracts including the 'Future Wales Fellowship,, 'Jerwood Curatorial Accelerator Programme, and Disability Arts Cymru's 'Cr8ativity is Mistakes, and income from hire of Peak's spaces increased dramatically due to the new Community Coordinator Rol8 to oversee hires and altemative income generation. Total incoming resources recognised in the year ended 31 March 2024 wer8 £305.022 (2023: £260,467). Of thls, £279,143 (2023.. £245,135) derived from cor8 grants and income for specific projects of which £128,987 {2023: £126,010) is shown in the Statement of Financial Activities as Restricted Funds. Incom8 of £14,755 (2023: £11.152) was earned from running commissioned projects. Rental income from lettings during the year was £8.133 {2023'. £2,895). There was a defirAt on unreslricted funds of £300 (2023.. £17,303 surplus) in the period. Pricing Pollcy Our pricing policy reflects Peak's values and aims to enable those wlth least access to participate in the arts. During the year under review. all activities, events and publications were offered for free. Bursaries were available lor Young People to support access and travel costs. Volunte6rs Peak continues to rely on the generosity and skills of volunteers and support from Partner organisations which in 2023-24 included Transport for Wales, Brecon & District MIND. Powys County Council and Bannau Brycheiniog Naticnal Park Aulhority. Reserves pollcy Th8 Board has examined the major stralegic business and operational risks to which the charity is exposed and determined Ihe charity's requirement for reserves in the light of these risks. The Board aims lo maintain an unrestricted funds reserve level of approximalely £35,000, representing over threa months. running costs. Tha fr8e reserves of the charity al the year-end were £91,779 {2023: £89,495). Monitoring will continue on a quarterly basis to consider the extent lo which activities and expenditure might be curtailed, should a situation arise where funds were no longer available.
PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS Work with, and for, Young People -In Quarter 4 of 2022-23 Peak leadership rewrote Peak's strategic plan around seven strategic aims, aligned with Wales, Wellbeing of Fulure Generations Act. These includeé 'Work with, and for, YoLJng People,, looking ahead to 3 10-year vision that the organisalion is st8ered by Young People. -In 2023-24, we underpinned this key strategic aim by successfully fundraising to support a CowDirector dedicated to Young People and launched a racruitment process in Q4 of 2023-24. In 2024-25, this new rola will be embedded with a focus on.. developing Peak's key programme strands for Young People, facilitating a pilot phase for Youth Voice and Governance mechanisms and craating Peak's Youlh People's Strategic Plan. -A dedicated Young CuratorlProducer will be supporteé by Paul Hamlyn Foundation funding in 2023-24. providing vitally-needed arts development and curatorial roles in Southeast Wales. -After increasing the upper age limit of Peak's Young People's work to 30 years beeen 2020-23 la decision made in dialogue with key funders recognising th8 impact of the covid pand8mic), Peak's Young People's programmes will relurn to an upper age limit of 25 years to allow for development of 25 years+ programmes for artists. Organisational Structure & Co-Leadership Model -Peak is committed to realising a flatter-organisational modal to ensure greater diversity in its organisational and leadership structure. Underpinned by successful fundraising from Paul Ham1 Foundation and ArtFund in 2023-24. Ihe Co-Dir8Ctor for Young People role was appointeé in Q4 of 2023-24 and will commence the role in Q12024-25. -Fundraising was undertaken in 2023-24 to continue and enhance the Community Coordinalor role which has had a positive impact on Peak's work during the 6-month pilot phase,. we anticipate further increases in earned income, strengthened community partnerships and the further activation of Peak's Old Schocl site as a result of continuing this role. Peak Sites as Community Resources -Building on the impact Of the Community Coordinator role. Strategic Priority Funding will klckstart the first phase of Peak's community garden at the Old School. working with Young People, artists and Intergenerational residents and partners towards the realisatian of 8 bicdiverse and thriving spaces. The community garden will be used as practical lens and learning tool for developing Peak's Environmental Plan. Equalltles & Welsh Languaga work -Peak sets and monitors targets to widen the diversity of board, slaff and collaborators through our Strategic Equalities Action Plan and our Anli-Racism plan (reviewed annually) and through 8dopiing 8 Co-Leadership model and an ecosyst8m of paid opportunities for Young People. -w8 will continue to embr8ce the creative potential of bilingual working practices across Cymraeg and English via our Cynllun laith Gymraeg I Welsh Language Plan. To embed the voices of artists into our programme, Peak continues to support a Welsh Language programme 'Pegwn', supporting Welsh-speaking artlsts, writers and activists. In 2024-25 P8ak will host an intensive Pegwn residency for elght Wales-based artists and creative practitioners exploring language in their work. this will also creale an opportunity for an inlernational curator to design the programme STRUCTURE, GOVERNANCE AND MANAGEMENT Gov8rnlng document Paak - Art in the Black Mountsins Ltd is 8 company limited by guarantee governed by its Memorandum and Articles of Association inGorporated on 2 March 1992 and registered as a charity with Ihe Charity Commission on 3 June 1992. Each board mémber agrees to contribute an amount not exceeding £1 in the 8vent of Ihe charity winding up. -10-
PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER: 02692770 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constitutlon The Directors of the Company are also charity trustees for Ihe purposes of charity law. Under the compantys Arlicjes, the Trustee Directors are known as members of the Board. Peak's Board has a maximum membership of eleven who are appointed by the company in gener81 meeting.They serve for an initial period of five years, which may be extended by a further 0-year temi. The Board may co-opt not more than four individuals nead not b8 members of tha Company and may speak but not vct8 at Board meetings. Co-opted Members retire at the next Annual General Meeting but may be COwOPted again by the newly elected Board. R&cruftment and appolntmont of new trustees The Board audits th8 skills and contributions of ils trustees. It identifies and recruits new trusteés openly through public advertisement to fill any skill gaps or vacancies that arise. Applications from potential trustees are reviewed by the Board and new Board members are appointed at the AGM. Addilional Board rnembers may be 8ppointed to the Board during the year to fill casual vacanci8S, Wlth the agreement of the trustees. Organisatlonal structurn The Board meets four limes a year and is responsible for the strategic direction and policy of Peak. Day to day running of Peak is delegated to Peak's stsff team. In 2023124 CowDirectors, M81issa Appleton (Strategy and Programme) and Louise Hobson (Operations and Programme) led the company and reported to the Board. A collaborative approach to Peak's strategic and creative direction was supported throughout th8 year by freelance staff. Ellen Wilson (Peak Peers Curator) and Polly Hunter (Community Coordinator) and Associates Owen Griffiths, Dan Huw, Esyllt Lewis and Sophie Mak-schram. Financa officer Hannah Griffiths continued to provide financial 8UPPOrt alongside a pool of tslented and experienced fr8elanc8 practitioners, who are contracted to work on projects and commlssions. Key managoment remuneration The Trust88 Directors consider that the key management personnel, who are responsible for directing, controlling, runnlng and operating Peak on a day-to-day basis, comprise the Board of Trustees and the senior management team. Trustees gave thelr lime freely éuring the year under review, receiving no remuneration for their services. Peak's leadership team salaries are reviewed annually, and 8ny pay rises are determined following annual appraisal. Peak offers at least 'real living wage, rales to everyone it works with and has accreditstion from the Living Wage Foundation. Peak publishes a Pay Policy. including Young People's Pay Policy, on its websile which also sets a ratio betW88n the highest and lowest paid in tha organisation and reviews freelance pay rates annually. Related partles None of our trustee5 receive remuneration or other benefit from their work with the charity and no related party transactions were reported in Ihe year.
PEAK - ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBER= 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management Peak, in common with all charities, faces a level of risk across its activities. Risk assessment is embedded within the organisation, including th& building of contingencies intc budgets. and all our activities are rigorously risk assassed. In accordance with good practice guidelines from the Charity Ccmmission. the trustees identify, assess and monitor operational risks in the following areas: personnel, venue. finance, extemal and compliance risks. The trustees, risk management strategy involves.. quarterly rlsk reviews embedded into operation reports annual internal control review. in line with Charity Commission ouid81ines tha establishmant of policies. systems and procedures to mitigate any identified risks arising from annual review management accountlng systems which id8ntify and manage our key financial risks standing items on board meeting agendas including safeguarding updales and reporting The trustees also recognise that Peak, in common with all arts organisations, faces (and embraces) artistic risk in relation to its artistlc programming, partlcularly in a rural 8rea where the cultural offer is limited and 0ft8n traditional. It therefore monitors artistic risks in relation to the repulation of the organisation and the artist by invesling in careful researGh, discussion with partners and funders. consultation with artists and dear public communication. REFERENCE ANO ADMINISTRATIVE DETAILS Registered Company number 02692770 (England and W81es) Registered Charity numbor 1011599 Registered office The Old School 8r8con Road Crickhowell Powys NP8 1DG Trustee8 S M Allen (Chairl J H Allen MCNLord L A Shipp A K Poulson (resigned 1,12.23) M J Hinkin Dr C R Ellis-Jones Independent Examiner Graham Paul Limited Court House Court Road Bridgend CF31 1BE -12-
PEAK- ART IN THE BLACK MOUNTAINS LTD (REGISTERED NUMBEFL. 02692770) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 This report has been prepared In accordance with the special provislons of Part 15 of the Companies Act 2006 relating to small comp8nies. Approved ty order of Ihe boaffl of Irustees on .... and signed on tts behaK by: iGi(airj- Trustee S M Allen
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PEAK- ART IN THE BLACK MOUNTAINS LTD Independent examinerfs report to the trustees of Peak Art in the Black Mountains Ltd ('the Company.) I report lo the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of rèport As the charity's trustees of the Company (and also lis directors for Ihe purposes of company lawl you are responsible for tha preparation of the accounts in accordance with the requirements of the Companies Act 20061'th8 2006 Act,). Having satisfied myself that the accounts of the Company are not requir8d to be audited under Part 16 of the 2006 Act and are eligible for independént 8xamination, I report in respect of my examination of your charitys accounts as carried out under Section 145 of the Charities Act 2011 I'lhe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 14515) Ib) of the 2011 Act. Independent 8xamlnerfs statement Since your charitys gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualifi8d to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my 8ttentlon In connection with the examination giving me cause to b8li8ve'. accounting records were not kept in respect of the Cornpany as required by Section 386 of the 2006 the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of Seclion 396 of tha 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and prlnciples of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to anab18 8 proper undarstanding of the accounts to be reached. J E Payne ACA Graham Paul Limited Court House Court Road Bridgend CF311BE 6 December 2024 -14-
PEAK - ART IN THE BLACK MOUNTAINS LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted Restrict8d funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 385 Charitable activitles Commissions and consultancy Charitable Activities 4,755 150,156 10.000 128,987 14,755 279,143 11,152 245,135 Other trading activities Investment income other income 8,133 2.367 624 8.133 2,367 624 2,895 900 Total 166,035 138.987 305,022 260,467 EXPENDITURE ON Raising funds 4,500 4,500 4,243 Charltable actlv6tles Charitable Activities 161,835 51,623 213,458 229.825 Total 186,335 51,623 217,958 234,068 NET INCOMEI(EXPENDITURE 1300) 87,364 87.064 26,399 RECONCILIATION OF FUNDS Total funds brought forward 89,495 23,159 112,654 86,255 TOTAL FUNDS CARRIED FORWARD 89,195 110,523 199,718 112,654 The notes form part of these financial ststements -15-
PEAK- ARTIN THE BLACK MOUNTAINS LTD (REGISTERED NUM8EII. 02692Tro) BALANCE SHEEr 31 MARCH 2024 2024 Total funds 2023 T(Aal funds Unrestricted Restricted funds funds Notes CURRENT ASSETS Debtors Cash in hand 16 12,248 102,048 12,248 212.571 22.537 102,040 110.523 114.296 110,523 224,819 124,577 CREDITORS Amounts falling due wthln year 17 (25,101) (25.101 } (11,923) NEf CURRENT ASSETS 89,195 110,523 199.718 112,654 TOTAL ASSETS LESS CURRENT LIABILMES 89,195 110,523 199,718 112,654 NEf ASSErs 89,195 110,523 199,718 112,654 FUNDS Vnrestrlcted funds Restricted funds 18 89,195 110,523 89.495 23,159 TOTAL FUNDS 199,718 112.654 The charftable company is entltted lo axemption from audlt under Sedlon 477 of ihe CompanSeg Act 2006 for Ihe year ended 31 March 2024. Th8 members have not required the company to Lthin an audit of ils financial ststhents for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The Injstees a¢nowledg8 thelr responsibilrlies for {a) ensuring that the ch8ritalle company keeps accountlng rewrds that comply with SectSons 386 and 387 of the Companies Act 2006 and preparing financial slatements which glve a true and fair vithv of the stale of affairs of the chafilable company as at the end of each financlal year and of its surplus or deficit for each financ481 year in accThdance with the requlrements of Sedlons 394 and 395 and which otheTY•ise comply with ihe requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the chajltabk company. These financlal slalements have been prepared in aCrdan wilh the provislons applicable to ¢harilable mpanies subject to Ihe small companies regim8. The financtal statements were approved by Ihe Board of Trustees and 8uthorised for issue on and were signed on its behalf by: (b) Thp. nnlpq Inm) nArt nf IhpqA finanp,iAI PAtAmp.nl<
PEAK - ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHARITY INFORMATION Peak - Art in the Black Mountains Lid is a private company limitod by guarantee incorpor8ted in England and W818s. The registered office is The Olé School, Brecon Road, Crickhowell, Powys NP8 1 DG, United Kingdom. ACCOUNTING POLICIES Basis of preparing th• flnancial statements The financial statements of the charitable company, which is a public b8nefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial R8POrting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and Ihe Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financlal statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in th8se financial statements are rounded to the nearest £. At the time of approving th8 financial statements, the trustees have a reasonable exp8Ctation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going conc8rn basls of accounting in preparing the financial statements. Income Income is recognlsed when the charity is legally entitled to it aftar any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will b8 receivad. Cash donations ar8 recognised on receipt. Other donatlons are recognised once the charity has ba8n notified of the donation, unless performance conditlons require deferral of th8 amount. Income tax recoverable in relation to donations received under gift Aid or deeds of covenant is recognised at the time of the donation. In the case of performance related grants, income must only be recognised to Ihe extent that the charity has provided the specified goods or services as 8nlitlement to the grant only occur8 when the performance related conditions are met. Unrestrictsd grants ar8 r8cognised wh8n recelved. Income from rental is invoiced and recognised in th8 period lo which the rentsl was provided, Income from classes is recognised when the class is attended. Income from fundraising events is recognis8d when the Income is reGeived. Bank interest is induded is in the accounts whén receipt is probable and the amount receivable can b8 measured reliably. Expenditure Expenditure is recognised once there is a legal or conslruclive obligation to make a payment to a third party. it is probable that settlement will be required and the amounl of th8 obligation can be measured reliably. Costs of raislng funds comprise Ihe costs in relalion to generating incorne such as fundraising activities and primarily relates to costs associated with the art auction. -17- continued...
PEAK. ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Expenditure Expenditure on charitsble activities includes all costs relating to the furtherance of th8 charitys objective5 as stated in the Irust8es report and their associated support costs. Support costs have been allocated baeen govemance cosls and other support. Govemance costs comprise all costs involving public accounlability of the charity and its compliance with regulation and good practice. Tangible flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at Cost or valuation, net of depreciation end any impairment losses. Depreciation is recognised so as to wrlte off the cost or valuation of assets less thelr residual values over their useful lives on Ihe following bases: Plant and equipment 20V/o Straight line The gain or loss arlslng on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the assel and Is recagni5ed in the slalement of fin8nci81 activities. Taxatlon The Gharity is exempt from corporation tax on Its charitable activities. Fund accounting Unrestricted funds are av8ilable for use at the discretion of the trustees in furtherance of their charitable objeGtives. Designat8d funds are those which have been set aside at the discretion of Ihe trustees for speclfic purposes. The purpos8s and uses of the designated funds are set out in the notes to the financial stat8ments. Restricted funds ar8 subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds ar8 set out in the notes to the financial statemants. Furthar explanation of the nature end purpose of each fund is included in the not8S to the financial statements. Pension costs and olher post-retlrement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to th8 charitable ccmpany's pension scheme ar8 charged to the Ststemenl of Financlal Activities in the period to which they relate. Impaimient of fixed assets At each reporting end date, Ihe charity reviews the carrying amounts of its tangible assets to detennine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the ext8nt of Ihe impaimient loss (if any)- Cash and cash equlvalents Cash and cash equivalents indude cash in hand, deposits held at call wilh banks, other short-term liquid Investmenls with original maturities of three months or less, bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Flnancial Instruments -18- continued...
PEAK - ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued Th8 charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial Instruments are r8cognised in the charItS balance sheet when the charity b8comes party to the contractual provisions of the instrument. Financial instruments and liabilities are offset, with the net amounts presented in the financial statements, when Ihere is a legally enforc8able right to sét off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc financial assets Basic financial assets, which include debtors and cash bank b818nces, are initlally measure at transaction price including transaction transaction costs and are subsequently carried at amortised cost using the effectiv8 interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of Interest. Financial 8SS8ts classified as receivable within one year ara not amortised. Derecognition of financlal assets Financial assets are derecognised only when the contractual rlghts to the cash flows from the asset expire or are settled, or when th8 charity transf8rs the financial asset and substantially all th8 risks and rewards of cwnership to another entity, or if some significant risks and r8ward of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financlal liabilities Basic financial liabilities, including creditors are initially recognisad at transactlon price unless the arrangement Gonstitules a financial trans8Ction, where the debt Instrument is measured at the present value of the future payments discounted at a market rale of inter8St. Financial liabilitles classifled as payable within one year are not amortiS8d. Debt instruments are subsequently carried at 8mortised cost, using the effectSve interest rale method. Trade creditors are obligalions to pay for goods or servlces that have been acquir8d in th8 ordinary course of operations from suppllers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognlsed initially at transaction price and subsequently measured at amortised cost using the effectiv8 interest method. Derecognltlon of financlal Ilabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Employeo benefEt8 The cost of any unus8d holiday enlitlement Is recognised in Ihe period in lch the employee's services are raceived. Termination benefits 8r8 recognised immediately as an expens8 when the charity is demonstrably committed to terminate the employment of an employee or lo provide termlnation benefits. Retlrement ben8flts Payments lo defined conlrlbution retirement benefit schemes are charged as an expense as they fall due. Leases Rental charges are charged on a straight line basis over Ihe term of the lease. -19- continued...
PEAK- ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In the application of the charitvs accounting policies, the trustees 8re required to make judgements, estimates and assumptions about the carrwng amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these eslimates. The estimates and underlying assumption5 are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in th8 period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future p8riods wher& the revision affects both currènt and future periods. DONATIONS AND LEGACIES 2024 2023 Donations 385 OTHER TRADING ACTMTIES 2024 2023 Renlal from hires 8,133 2,895 INVESTMENT INCOME 2024 2023 Deposlt account interest 2,367 900 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Commissions & consultancy Gran18 Commissions and consullancy Charftsble Activities 14,755 279.143 11,152 245,135 293.898 256.287 Grants rec8ived, included in the above, are as follows: 2024 2023 Crlw Celf Arts Council of Wal8S Esmee Fairbairn Foundation National Lottery Awards for all Wales Powys County Council Art Fund Colwinslon Charitable Trust Ashley Family Foundation DAC 29,550 168,085 36,000 120,156 30,000 19,000 1,000 500 10,000 22,500 10,000 2,500 Carried fOard 204,156 245.135 -20- continued...
PEAK - ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES - continued 2024 2023 Brought fOard Powys Association of Voluntary Organisations Paul Hamlyn Foundation 204.156 14,987 60.000 245,135 279,143 245,135 OTHER INCOME 2024 2023 Other Income 624 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 10) Support costs (see note11) Totals Charitsble Activities 199,674 13,784 213,458 10. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Light and heat Telephone Postage and stationery Sundri8S Project costs Rent & insurance Travel Maintenanc8 & general building costs Professional fees Core acllvity costs staff Training Translation costs Venue Costs IT Costs Rates 81,688 2,658 993 1,774 2,790 90,504 2,201 862 6,625 488 2,255 530 1,347 708 3,937 314 90,928 3,016 976 767 903 92,840 1,665 313 6,598 8,159 1,915 359 93 254 7,711 388 199,674 216,885 -21- continued...
PEAK- ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 11. SUPPORT COSTS Management Finance Totals Charitable Aclivities 13,508 276 13,784 12. NET INCOMEIIEXPENDITURE) Net incomel(expenditur8) is stat8d after charging1(editing). 2024 2023 DefiGIt on disposal of fixed assets 3,040 13. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for th8 year anded 31 March 2024 nor for Ihe year anded 31 March 2023, Trustees, expenses There were no trust888' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 14. EMPLOYEES & STAFF COSTS 2024 2023 Wages and salarles Social security Gosts Other pension costa 77,735 2,793 1,160 86,421 2,392 2,115 81,688 90,928 The average rncnthly numb8r of employees durlng the year was as follows: 2024 2023 Management & administration No employ8es received emoluments in excess of £60,000. The key management personnel as detsiled in the Iruslees report received remuneration consisting of gross salary. employers nalional insurance contributions and employers pension contribulions tot811ing £63,448. (2023 £36,446). -22- continued...
PEAK- ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 15. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricled funds Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 385 385 Charitable activities Commissions and consultancy Charitable Aclivitl8S 1,162 119,125 9,990 126,010 11.152 245,135 Other trading activities Investment Income 2,895 900 2,895 900 Total 124,467 136,000 260,467 EXPENDITURE ON Raising funds 4,243 4,243 Charltable actlvltSes Charitable Activilies 101,762 128,063 229,825 Toial 106.005 128,063 234,068 NET INCOME Transfers between funds 18,462 (1,159) 7,937 1,159 26,399 Net movement in funds 17,303 9,096 26,399 RECONCILIATION OF FUNDS Total funds brought fOard 72,192 14,063 86,255 TOTAL FUNDS CARRIED FORWARD 89,495 23,159 112,654 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade d8btors Prepayments and accrued Income 3,216 9,032 21,086 1,451 12,248 22,537 -23- continued...
PEAK- ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Tr8de creditors Social security and other taxes Olh8r cr8ditors Accrued expenses 8,894 1,610 8,047 6,550 4,062 2.867 394 4,600 25,101 11,923 18. MOVEMENT IN FUNDS Net movement In funds At 31.3.24 At 1.4.23 Unregtrfcted funds General fund 89,495 (300) 89.195 Restrided funds Art Fund National Lottery Awards for All Wales Arts Council of Wales- Casgleb Colwinston Charitable Foundation M8ntal Health Pottery Groups Paul Hamlyn Foundation Ashley Family Foundation Arts Council of Wales Futur8 Wal8S Fellowshlp 22,500 18,921 (12,000) (10,000) 22,500 18,921 12,000 10,000 1,159 1,159 56,778 8.581 56,778 8,581 2,584 2,584 23,159 87,364 110,523 TOTAL FUNDS 112,654 87,064 199,718 -24- continued...
PEAK - ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows- Incoming resources Resources expand8d Movemant in funds Unrestrlcted funds General fund 166,035 (166,335) (300) Restricted funds Art Fund National Lottery Awards for All Wal88 Arts Council ofWales- Casgleb Colwinston Charitable Foundation Paul Hamlyn Foundation Ashley Family Foundation DAC Powys Association of Vcluntsry Organisations Arts Council of Wales Future Wales Fellowship 22,500 19,000 22,500 18,921 (12,000) (10,000) 56,778 8,581 179) (12,000) (10,000) (3,222) (1,419) {2,500) 60,000 10,000 2,500 14.987 (14.987) 10,000 (7,416) 2,584 138,987 (51,623) 87,364 TOTAL FUNDS 305,022 1217,9581 87,064 Comparatlves for movement in funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrastrlcted funds General fund Fixed Asset Fund 69,152 3,040 18,462 1.881 {3,040) 89.495 72,192 18,462 (1,159) 89,495 Restrlcted funds Scops Arts Trust Arts Council of Wales- Covld Recovery 2 Arts Council of Wales - Covid Recovery 3 Arts Council of Wales - Casgleb Powys County Council - Criw Celf 2023 Colwinston Charitsble Foundation Mental Health Pottery Groups 4,627 (4,627) 1,525 (1,525) 2,909 5,002 <2,909) (5,002) 12.000 10,000 12,000 10,000 1,159 1,159 14,063 7,937 1,159 23,159 TOTAL FUNDS 86.255 26,399 112,654 -25- continued..
PEAK- ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS - eontlnued FOR THE YEAR ENDED 31 MARCH 2024 18. MOVEMENT IN FUNDS - contlnued Comparative net movement in funds, induded in Ihe above are as follows: Incoming resources Resources expended Movemant in funds Unrestrlded funds General fund 124.467 (106,005) 18,462 Rastrlcted funds Scops Arts Trust Arts Council of Wales- Covid R8covery 2 Arts Council of Wales- Covid R6cov8ry 3 Arts Council of Wales - Casglab Jonathan Ruff8r Award Awards for All - Pottery Powys County Council - Criw Celf 2022 Powys County Council - Crlw Celf 2023 Colwinston Charitable Foundation {4,627) 14,627) 1,268 (2,793) 11,525} 12,909) (89,694) {500) (9,990) (15,075) (2,475) 12,909) 15,002) 84,692 500 9,990 15,075 14,475 10,000 12,000 10,000 136,000 (128,063) 7,937 TOTAL FUNDS 260.467 1234,068) 26,399 Art Fund - funding contribution towards 'Co4irector Young People & Programme role, {2 year funding aw£rd). National Lottery Awards for All Wales - fundlng tha Inltlal stages of developlng a community garden at Peak's Old School site. Arts Council of Wales - Casgleb - supporting collaborative research with young people and artists. Colwlnston Charitable Trust was received to fund art programmes for young people aged 18-30 years. Mental Health Pottery these represent funds donated towards mental health pottery activities (MIND Groups). Paul Hamlyn Foundatlon funding of 'Co-director Young People & Programme, role, paid development roles for Young People and data and evaluation work (3 funding award). Ashley Family Foundatlon funding of practitionar fees and materials for PlaylGround 2023-24, Peak's creative studio programme for 14-18 y8ar olds. Arts Councll of Wales - Future Wales Fellowship - contract to 5UPPOrt the Future Wales Fellowship as arts partner {18 month programme). -26- ccntinued...
PEAK- ART IN THE BLACK MOUNTAINS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 19. EMPLOYEE BENEFIT OBLIGATIONS Defined contribution schemes The charity operates a defined contribution pension scheme for all qualifying employee. The assets of lh8 schema are held sep2rat8ly from those of the charity in an independently administered fund. The charge to profit or loss in respect contribution schemes was £1,160 (2023: £2,115). There wera amounts outstanding of £Nil (2023:£Nil) at the year end. 20. RELATED PARTY DISCLOSURES There were no related p8ty transactions for the year ended 31 March 2024. -27-