Company number: 02763418 Charity Number: 1015459
Multi-Cultural Arts
T/A
Manchester International Arts
Report and financial statements For the year ended 31st March 2023
Multi-Cultural Arts
Reference and administrative information
for the year ended 31st March 2023
Company number 02763418
Charity number 1015459
Registered office and operational address
Apartment 10 4 Barton Street Manchester M3 4NN
The charity is also known as Manchester International Arts.
Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Kathleen Robinson Edward Taylor Anne Tucker Lillian Pons
Key management Jeremy Shine
personnel
Bankers
Royal Bank of Scotland Drummond House (EX) Branch Customer Service Centre Drummond House 1 Redheughs Avenue Edinburgh EH12 9JN
Yorkshire Bank (Virgin Money) 48-50 Market Street Manchester M1 1PW
Independent Examiner
Christy Lau FCCA CTA DChA Slade & Cooper Limited Beehive Mill Jersey St Ancoats Manchester M4 6JG
1
Multi-Cultural Arts
Trustees’ annual report
for the year ended 31st March 2023
The trustees present their report and the unaudited financial statements for the year ended 31st March 2023. Included within the trustees’ report is the directors’ report as required by company law.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Objectives and activities
The Objects for which the Company is registered are to promote, maintain, improve and advance education by the encouragement of the Arts with particular reference to performance, visual and social arts involving different cultures and countries and to the promotion of artistic objects of international interest conducive to the advancement of education.
To present, promote, organise, provide, manage and produce such events as are conducive to the above Objects.
Our principal activity is to promote directly or assist other organisations to present high quality arts events and festivals which are open to the general public either free of charge or with a low admission cost to enable as many people as possible to attend. The majority of these take place in the open air.
The Trustees believe that the activities described above are compliant with the Charity Commissionís guidance on public benefit.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
Achievements and performance
The charity's main activities and who it tries to help are described below. All its charitable activities focus on presenting high quality arts events to the widest possible audience especially people with restricted income and are undertaken to further Multi-Cultural Arts charitable purposes for the public benefit.
2
Multi-Cultural Arts
Trustees’ annual report
for the year ended 31st March 2023
As previously reported, our contract to provides services as Artistic Director of SIRF was extended to a fourth year to develop the programme that took place over the first weekend of August 2022.The festival was well attended and positively received by the audience.
We directly presented a small free festival in Castlefield over the last weekend in July 2022 sharing some of the international acts with SIRF. The programme featured nineteen acts and expenditure was in the region of £60,000 - this was about 20% higher than initial estimates because of greatly increased costs of production & technical services and hotel prices which have risen post-COVID. (This has affected the whole sector and the wider events industry nationally).
The programme was of high quality and well received by attendees although attendance was lower than anticipated - in the region of 1,000-1,500 people each day. This is partly attributable to poor weather and a clash on the Sunday with the final of the Women’s Euro championship although marketing was problematic given the three years that have passed since our last presentation in Manchester and our low profile on social media.
Beneficiaries of our services
In both Stockton and Manchester, we attracted a wide range of people from different communities especially families.
Financial review
The Company continued to receive income from it’s contract with Stockton Borough Council of £38,000 per annum. As the contract was extended to the end of October 2022, we receives payment for 7 months amount to just over £22,000. At year end we had around £100,000 in our reserves.
Reserves policy
The Trustees believe that a reserve of about £5,000 is adequate at the present time given the low risk nature of our current and projected projects. Reserves are held in a deposit account at our bank and currently amount to £100,000. – reserves are held to cover any unexpected problems with projects budgets and to cover potential close-down costs.
Plans for the future
Our contract with Stockton Borough Council to provide the services of Artistic Director of SIRF 2022 has now ended but we have awarded a contract to provide services to SIRF by supporting the new Artistic Director in developing the programme for a fee of £6,000 in 2023/24.
Stockport has been designated as Greater Manchester Borough of Culture 2023/24 and we are working with Deb Ashby on plans for a weekend of activities in March 2024. An initial grant of £5,000 has been awarded by Stockport Council which is insufficient so the event will only go ahead if further funding is secured.
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Multi-Cultural Arts
Trustees’ annual report
for the year ended 31st March 2023
As a result of the disappointing attendance in Castlefield last summer, our intention is to try and find partners in Manchester with larger marketing operations to co-present work in the future and are exploring various options.
Structure, governance and management
Ttustees are selected to represent artists from the street arts sector, the public in Manchester who attend our events and people with some influence or good contacts in the city.
The Charity recruits trustees who it believes have a good understanding of the type of work we do and how we go about it and includes representatives from the arts community, people with experience of working in social or community development and the audience. Recruitment is from our extensive network of contacts in the North West of England.
The organisation is a charitable company limited by guarantee, incorporated on 9[th] November 1992 and registered as a charity on 26[th] November 1992.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.
Related parties and relationships with other organisations
None
Risk management
All direct activities are funded from reserves and earned income.
As no income is derived from activities presented there is no risk of a lack of income.
Expenditure on artists fees and expenses is known in advance of any event - technical costs are more difficult to assess accurately in advance so budgets include an appropriate contingency.
Funds held as custodian trustee on behalf of others
None
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Multi-cultural Arts Trustees. annual report for the year ended 31st March 2023 Statement of responsibilities of the trustees The trustees (who are also dlrertors of Multi-cultural Arts for the purposes of company law) are responslble for preparing the tru5tees' annual report and the financial 5taternents in accordance with applicable law and United Kingdom ACClntIng Standards (United ngdorn Generally Accepted Accounting Practice). Company law requlres the trustees to prepare finanaal statements for eath finanaal year which give true and fair view of the state of affairs of the tharitable company and of the incoming re50urres and application of resources, including the Income and expendtture, of the charltable company for that pedod. In weparfng these flnanaal statements, the tnjstees are required to: Select Suitable accounting policies and then app them conslstently Observe the method5 and prfnoples in the aritIeS SORP Make judgements and estirnates that are reax)nable and prudent state whether appllcable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departu$ disclosed and explaine¢l in the financial staternents Prepare the finanaal statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The trustee5 are responsible for keeping proper accounting records that disclose wlth reasonable accurKy at any time the financial position of the charitable company and able them to ensure that the financial statements comply with the Companles Art 2006. They a also responsible for safeguarding the assets of the charitable company and hen for takj.ng reasonable steps for the prevention and detection of fraud and other irregularities. Thls report has been prepared in accordan with the provisions applicable to companies subjert to the srnall companle5' reglme of the Companles Act 2006. The trustees, aonual rep)rt has been apEYoved by the trustees on thelr behalf by and slgned on Edward Taylor Trustee
Independent examiner’s report
to the trustees of
Multi-Cultural Arts
I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] March 2023 which are set out on pages 7 to 22.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 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 principles 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 enable a proper understanding of the accounts to be reached.
Christy Lau FCCA CTA DChA
Slade & Cooper Limited Beehive Mill, Jersey Street Manchester, M4 6JG
20[th] December 2023
6
Multi-Cultural Arts T/A Manchester International Arts
Statement of Financial Activities
(including Income and Expenditure account) for the year ended 31 March 2023
| Unrestricted funds Note £ Income from: Donations and legacies 3 32,104 Charitable activities: 4 528 Investments 5 306 Total income 32,938 Expenditure on: Charitable activities: 6 73,079 Total expenditure 73,079 (40,141) 8 (40,141) Transfer between funds - Net movement in funds for the year (40,141) Reconciliation of funds Total funds brought forward 137,601 Total funds carried forward 97,460 Net income/(expenditure) before net gains/(losses) on investments Net income/(expenditure) for the year |
Restricted funds £ - - - - - - - - - - - - |
Total funds 2023 £ 32,104 528 306 32,938 73,079 73,079 (40,141) (40,141) - (40,141) 137,601 97,460 |
Total funds 2022 £ 28,050 963 342 |
|---|---|---|---|
| 29,355 | |||
| 9,085 | |||
| 9,085 | |||
| 20,270 | |||
| 20,270 - |
|||
| 20,270 117,331 |
|||
| 137,601 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
A full comparative SOFA is available on the last page of the financial statements.
7
Multi-cultural Arts TIA Manchester Intematlonal Arts Company number 02763418 Balance sheet as at 31 March 2023 2023 2022 Flxed assets Tanglble assets Iz 508 Total flxed assets S08 Current assets Debtors Cash at bank and In hand 13 904 98,320 14 139,555 Totsl current assets 99,224 139,555 Liabilities Credltors., amounts falllng due In less than one year Is {1,764) (2,462) Net current assets 97.460 137,093 Trtal assets less current Ilabllltles 97,460 137,601 Net ¥$$ets 97h60 137,601 The funds of the Charlty: Unrestrirted income funds 16 97,460 137,601 Total charity funds 97.460 137,601 For the year in question, the company wa5 entitled to exemption from an audlt under sertlon 477 of the Companies Art 2006 relatlng to small companles. Directors, responsibilities: The members have not required the company to obtain an audlt of its accounts for the year In question in accordan with 5ettion 476 of the Companies Act 2006, The directors acknowledge their responslbillties for complying with the requirements of the Act wlth respett to accounting record5 and the pparation of accounts. These accounts are prepared In aCrdance with the spedal prowsions of part IS of the Compènles Act 2006 relating to small companies and In aCCordare with FR5102 SORP. and constltute the annual atcounts requlred by the Companies Act 2006 and are for drculation to member5 of the company. The notes on page5 10 to 22 forni part of these accounts. Approve&bythe tnjstees on and sfgned on thelr behalf by: Edward Taylor rfrustee)
Multi-Cultural Arts T/A Manchester International Arts
Statement of Cash Flows for the year ending 31 March 2023
| Note 2023 £ Cash provided by/(used in) operating activities 18 (41,541) Cash flows from investing activities: Dividends, interest, and rents from investments 306 Cash provided by/(used in) investing activities 306 (41,235) Cash and cash equivalents at the beginning of the year 139,555 Cash and cash equivalents at the end of the year 98,320 Increase/(decrease) in cash and cash equivalents in the year |
2022 £ 20,612 |
|---|---|
| 342 | |
| 342 | |
| 20,954 118,601 |
|
| 139,555 |
9
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023
1 Accounting policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a Basis of preparation
The financial statements have been prepared 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 (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Multi-Cultural Arts T/A Manchester International Arts meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
b Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
The trustees have made no key judgments which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
10
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
c Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ 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.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
d Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
11
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
f Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
g Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs.
-
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 8.
i Tangible fixed assets
Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
Office fixtures and equipment 20%
12
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
j Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
k Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
l Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2 Legal status of the charity
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.
3 Income from donations and legacies
| Current reporting period Donations Total Previous reporting period Donations Total |
Unrestricted £ 32,104 32,104 Unrestricted £ 28,050 28,050 |
Restricted £ - - Restricted £ - - |
Total 2023 £ 32,104 |
|---|---|---|---|
| 32,104 | |||
| Total 2022 £ 28,050 |
|||
| 28,050 |
13
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
4 Income from charitable activities
| Current reporting period Arts events, services and advice Services Total Previous reporting period Arts events, services and advice Services Total 5 Investment income Current reporting period Income from bank deposits Previous reporting period Income from bank deposits |
Unrestricted £ 528 528 Unrestricted £ 963 963 Unrestricted £ 306 306 Unrestricted £ 342 342 |
Restricted £ - - Restricted £ - - Restricted £ - - Restricted £ - - |
Total 2023 £ 528 |
|---|---|---|---|
| 528 | |||
| Total 2022 £ 963 |
|||
| 963 | |||
| 2023 £ 306 |
|||
| 306 | |||
| 2022 £ 342 |
|||
| 342 |
14
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
6 Analysis of expenditure on charitable activities
| Current reporting period Travel & subsistence Project Costs Depreciation Previous reporting period Travel & subsistence Project Costs Depreciation Restricted expenditure Unrestricted expenditure Governance costs (see note 7) Governance costs (see note 7) Support costs (see note 7) Support costs (see note 7) |
Arts events, services and advice £ 13,211 54,922 508 1,802 2,536 72,979 Arts events, services and advice £ 4,395 - 507 1,920 1,775 8,597 2023 £ - 73,079 73,079 |
Total 2023 £ 13,211 54,922 508 1,802 2,636 |
|---|---|---|
| 73,079 | ||
| Total 2022 £ 4,395 - 507 1,920 2,263 |
||
| 9,085 | ||
| 2022 £ - 9,085 |
||
| 9,085 |
15
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
7 Analysis of governance and support costs
| Current reporting period Office Administration Accountancy services Governance Previous reporting period Office Administration Accountancy services |
Support £ 2,636 - - 2,636 Support £ 2,263 - 2,263 |
Governance £ - 1,608 194 1,802 Governance £ - 1,920 1,920 |
Total 2023 £ 2,636 1,608 194 |
|---|---|---|---|
| 4,438 | |||
| Total 2022 £ 2,263 1,920 |
|||
| 4,183 |
16
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
8 Net income/(expenditure) for the year
| This is stated after charging/(crediting): | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| Depreciation | 508 | 507 |
| Independent examiner's fee | ||
| -Accounting services | 1,260 | 1,200 |
| -Independent examination | 210 | 200 |
| -Bookkeeping Services | - | 200 |
9 Staff costs
The charity has no paid staff and is run by volunteers.
10 Trustee remuneration and expenses, and related party transactions
Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2022: Nil).
No members of the management committee received travel and subsistence expenses during the year of £Nil (2022:£Nil).
Aggregate donations from related parties were £Nil (2022: £Nil).
There was a donation from Jeremy Shine of £32,104 in the year. He contracted with an external organisation to undertake work only he could fulfil. This donation was not outside the normal course of business and there were no restricted donations from related parties (2022: £28,050).
No trustee or other person related to the charity had any personal interest in any other contract or transaction entered into by the charity, including guarantees, during the year (2022: nil).
17
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
11 Corporation tax
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
12 Fixed assets: tangible assets
| Cost Additions Disposals Depreciation Charge for the year Disposals Net book value At 31 March 2022 At 1 April 2022 At 31 March 2023 At 1 April 2022 At 31 March 2023 At 31 March 2023 |
Fixtures and Fittings £ 7,916 - (5,380) 2,536 7,408 508 (5,380) 2,536 - 508 |
£ 7,916 - (5,380) Total |
|---|---|---|
| 2,536 | ||
| 7,408 508 (5,380) |
||
| 2,536 | ||
| - | ||
| 508 |
18
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
13 Debtors
| 13 Debtors |
|
|---|---|
| 2023 £ Prepayments and accrued income 904 904 14 Cash at bank and in hand 2023 £ Cash at bank and on hand 98,320 98,320 15 Creditors: amounts falling due within one year 2023 £ Trade creditors - Other creditors and accruals 1,764 1,764 |
2022 £ - |
| - | |
| 2022 £ 139,555 |
|
| 139,555 | |
| 2022 £ 542 1,920 |
|
| 2,462 |
19
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
16 Analysis of movement in unrestricted funds
| General fund General fund Capital expenditure Current reporting period Previous reporting period Capital expenditure |
Balance at 1 April 2022 £ 137,093 508 137,601 Balance at 1 April 2021 £ 116,316 1,015 117,331 |
Income £ 32,938 - 32,938 Income £ 29,355 - 29,355 |
Expenditure £ (72,571) (508) (73,079) Expenditure £ (8,578) (507) (9,085) |
Transfers £ - - - Transfers £ - - - |
As at 31 March 2023 £ 97,460 - |
|---|---|---|---|---|---|
| 97,460 | |||||
| As at 31 March 2022 £ 137,093 508 |
|||||
| 137,601 |
Name of unrestricted fund Description, nature and purposes of the fund
General fund The free reserves after allowing for all designated funds Capital expenditure Represents the net book value of non-liquid assets, namely fixed assets
20
Multi-Cultural Arts T/A Manchester International Arts
Notes to the accounts for the year ended 31 March 2023 (continued)
17 Analysis of net assets between funds
| Current reporting period Tangible fixed assets Net current assets/(liabilities) Total Previous reporting period Tangible fixed assets Net current assets/(liabilities) Total |
General fund £ - 97,460 97,460 General fund £ 508 136,585 137,093 |
Designated funds £ - - - Designated funds £ - 508 508 |
Restricted funds £ - - - Restricted funds £ - - - |
Total £ - 97,460 |
|---|---|---|---|---|
| 97,460 | ||||
| Total £ 508 137,093 |
||||
| 137,601 |
18 Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/(expenditure) for the year Adjustments for: Depreciation charge Dividends, interest and rents from investments Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating |
2023 £ (40,141) 508 (306) (904) (698) (41,541) |
2022 £ 20,270 507 (342) 437 (260) |
|---|---|---|
| 20,612 |
21
Multi-Cultural Arts T/A Manchester International Arts
Statement of Financial Activities
(including Income and Expenditure account) for the year ended 31 March 2023
Prior year Statement of Financial Activities
| Unrestricted funds Note £ Income from: Donations and legacies 3 28,050 Charitable activities: 4 963 Investments 5 342 Total income 29,355 Expenditure on: Charitable activities: 6 9,085 Total expenditure 9,085 20,270 8 20,270 Transfer between funds - Net movement in funds for the year 20,270 Reconciliation of funds Total funds brought forward 117,331 Total funds carried forward 137,601 Net income/(expenditure) for the year Net income/(expenditure) before net gains/(losses) on investments |
Restricted funds £ - - - - - - - - - - - - |
Total funds 2022 £ 28,050 963 342 29,355 9,085 9,085 20,270 20,270 - 20,270 117,331 137,601 |
Total funds 2021 £ 23,509 4,230 95 |
|---|---|---|---|
| 27,834 | |||
| 5,805 | |||
| 5,805 | |||
| 22,029 | |||
| 22,029 - |
|||
| 22,029 95,302 |
|||
| 117,331 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
22