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2021-03-31-accounts

Company number: 02881612 Charity Number: 1031721

The Institute of International Visual Arts

Report and financial statements For the year ended 31 March 2021

The Institute of International Visual Arts

Contents

For the year ended 31 March 2021

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent examiner’s report .................................................................................................... 17 Statement of financial activities (incorporating an income and expenditure account) ................... 19 Balance sheet ............................................................................................................................... 20 Notes to the financial statements ................................................................................................. 21

The Institute of International Visual Arts

Reference and administrative information

For the year ended 31 March 2021

Company number 02881612
Country of incorporation United Kingdom
Charity number 1031721
Country of registration England & Wales
Registered office 16 John Islip Street
and operational London
address SW1P 4JU
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:
Anita Bhalla Chair
Ritula Shah Vice-Chair
Larry Achiampong
Adam Epstein
Somil Goyal
Marc Nahum
Onyeije Nwokorie Resigned 15thFebruary 2021
Rodrigo Orrantia
Rebecca Sinker
Key management Sepake Angiama Artistic Director
personnel Sarah Mangan Deputy Director
Bankers CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling
KENT ME19 4JQ
Independent examiner Noelia Serrano FCA
Sayer Vincent LLP
Chartered Accountants and Statutory Auditors
Invicta House
108-114 Golden Lane
LONDON
EC1Y 0TL

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

The trustees present their report and the financial statements for the year ended 31 March 2021.

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

Purpose and aims

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.

iniva (The Institute of International Visual Arts) is an evolving, radical visual arts organisation dedicated to developing an artistic programme that reflects on the social and political impact of globalization. With the Stuart Hall Library acting as a critical and creative hub for its work, it collaborates with artists, curators, researchers and cultural producers to challenge conventional notions of diversity and difference. iniva engages a wide audience, particularly young people, in discourse and debate on issues surrounding the politics of race, class and gender.

iniva sees its core purposes as:

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.

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

Achievements and performance

Introduction from the Chair of Trustees

There is no doubt that the past year has been the most challenging for the whole of the cultural sector as the coronavirus pandemic forced closure of arts events and cultural venues. We have still some way to go before things will return to a near normal and the coming winter months will no doubt be challenging. iniva’s team, with great dedication and partnership, moved from an office and library-based model to working digitally and remotely. This has proven a great success with audiences at home and abroad. We kept up an impressive range of programme, public talks, group session, workshops, curatorial traineeship and a lot more. I want to take this opportunity to thank the staff team and trustees who in these challenging times kept the work of iniva moving and often in the limelight. Their dedication and commitment has delivered for us a stable position for the organisation enabling us to face the continuing uncertainty ahead with confidence. I am sure the many artists and individuals the iniva team has engaged with are also grateful for their continuing commitment, energy and determination to ensure our work continues.

Thank you to you all.

Anita Bhalla OBE, Chair of Trustees, iniva .

Over the course of 2020 and 2021 iniva had proven itself to be a dynamic, flexible and adaptable model of institutional praxis even in the face of a global pandemic. The institution effectively moved from an office and library-based model to working digitally and remotely attracting an international audience through providing an online programme. iniva managed to keep a programme of commissions, public talks, group reading sessions, screening and workshops running through the duration of the pandemic with limited staff. Staff were only furloughed if there was no other possibility for them to continue their work remotely. Programming and contracts with artists and freelancers were honoured to ensure continuity of practice, where programmes could not migrate to become online, we postponed parts of the programming so that it could take place at a later point in the year. Some staff members left iniva coming to the end of their contracts or going into retirement and new staff members joined the iniva team. We managed to continue with our curatorial traineeship and initiate a new network for emerging cultural workers and a new network of cultural and artistic researchers.

We received a number of significant grants for the continuation of our work with The Freelands Foundation, Art Fund, Esmée Fairbairn, and the Arts Council, England as well as The Marsh Award for Excellence in Gallery Education.

- Impact of COVID 19

In line with of UK Government COVID-19 restrictions and guidance, we closed the iniva offices and the Stuart Hall Library on 16 March 2020 and an action plan was put in to place for staff to be able to work remotely from their homes. The Library staff and Development Manager were furloughed from April 2020 and returned in the autumn of 2020 to perform duties from home, and then in

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

the library at 2-metre social distance, in well-ventilated spaces. The public were not permitted to use onsite services until April 2021. The library staff dealt with all enquiries via email and telephone and referred users to digital and online resources where possible. iniva supplied PPE and hand sanitising facilities for all staff and volunteers were required to wear face masks covering their noses and mouths to mitigate the risk of spreading the COVID-19 virus. We provided additional face shields for use within the Stuart Hall Library and the working offices, and especially for library staff and library volunteers when engaging with library users and the general public. Anti-bacterial equipment was provided for all staff and users at reception, within the offices and the library restroom which were refilled periodically. The library maintained a limited number of users in the library at any one time, up to 6 per day via appointment only and books were quarantined after use for 3 days on a shelfing trolley. Monitoring was in place for visitors whereby on the occasion of any reported COVID case library staff and volunteers self-quarantine at home for 2 weeks and users are notified of any library closure. We did not experience any outbreak of COVID-19 on iniva team or any cases from the public but we continue to monitor and maintain protocol as cases in London continue to rise.

In other areas of our artistic, education and wellbeing programmes we delivered the programme online, sending materials and resources by post where possible. We managed to engage and enthuse a community who valued artistic expression, creativity, research, thinking and studying together in very difficult times centring care and wellbeing. We began to reopen the Stuart Hall Library and the exhibition at Manchester Art Gallery to the public in April 2021.

Artistic and Cultural Programme

iniva relocated from Rivington Place to its new street front location John Islip Street on Millbank in 2019. Sitting within the artistic, education and research community of the University of the Arts Chelsea, and next to Tate Britain. The artistic cultural programme gives our creative community and the wider public the opportunity to experience an extensive range of creative activity in the visual arts through partnership working with local cultural organisations and education institutions. iniva supports the development of our understanding to articulate the language around the practices of international art and artists with a focus on Africa, Asia, Middle East, the Caribbean, Latin America, Indigenous and the diaspora. iniva ’s work within the remit of schools and communities addresses creative thinking, making and learning by addressing emotional language and wellbeing with artists. iniva ’s work as a cultural agency advocate for changes within the arts sector to provide equitable employment and training opportunities for emerging curators. Whilst iniva also partners with arts organisations to provide opportunities for traineeships – the institutions broaden their knowledge and understanding of art and culture from the perspective of people of African, Asian, Caribbean, Middle Eastern, Latin American, Indigenous and the diaspora. iniva champions the transformation of the cultural landscape through partnership, programming, publishing and research.

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

Future Collect

In 2020 iniva continued to work on its large-scale legacy project Future Collect, whereby iniva invites museums and galleries to work in partnership to support artists in developing innovative new work that seeks to reanimate existing collections, engage with local audiences and communities and ask questions relevant to contemporary society.

Future Collect has three key aims:

For our first partnership with Manchester Art Gallery, Curatorial Project Manager, Rohini Malik Okon and the Curator-in-training, Nikita Gill were appointed. The Curatorial Trainee stayed in post full time (with a period of furlough) working mostly remotely from home under the supervision of the Curator for Modern and Contemporary Art of Manchester Art Gallery, Kate Jesson. Nikita’s contract was extended into 2021 so that she could achieve some onsite training and her placement at iniva .

In 2020 in partnership with Manchester Art Gallery, the commissioned artist Jade Montserrat began her research-led process and we managed to deliver an artist-led public programme online. Future Collect developed a digital programme which underpinned the critical context for the commission. Curatorial Trainee Nikita Gill, in virtual contact with the artist was able to curate an exhibition ‘Constellations of Care and Resistance’ made up of existing works by Jade and items from the MAG collection for display, opened to the public for a small period of time in the summer and autumn 2020.

Jade’s public programme and performance work, all took place online during various lockdowns over the course of the pandemic. Funders supported the decision to extend the project through to 2021. Jade made a set of drawings from January through to March 2021 and we have also produced an artist publication with her to be distributed by Cornerhouse.

In 2021 the Future Collect project team expanded to include a Producer and the Network Coordinator for Future Commons. An open call for a Year 2 partner was made and the Artistic Director and Curatorial Project Manager selected the second institutional partnership through an open call. iniva received a number of very strong expressions of interest, and shortlisted and

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

selected through an interview process, The Hepworth, Wakefield to be the second partner for the Future Collect commission and curatorial traineeship in 21/22.

Future Commons

Our Future Commons coordinator Priya Jay developed a creative network of emerging curators and creative producers, providing a platform to share opportunities, ideas, information and support. The network influences and feedback on the Future Collect programme, and iniva ’s programmes more widely, as well as producing peer-to-peer led events for 18-35 year olds that support the main Future Collect programme and develop new audiences.

Syllabus

Syllabus V

Due to the pandemic, the Syllabus V retreat, initially due to take place at iniva in June 2020 was postponed. An online retreat took place in September 2020, with sessions delivered by artist Raju Rage, curator Annie Jael Kwan and organiser Joon Lynn Goh of Art-Asia-Activism and Migrants in Culture. The last session of Syllabus V took place online in March 2021 and was a workshop delivered by Larry Achiampong and Zara Truss-Giles around ways of working with sound, music, memory and heritage.

Syllabus VI

Plans for Syllabus VI have been impacted by the pandemic and the partner organisations have agreed to deliver hybrid retreats, partly online and partly physical. A first session took place online in December 2020 and was led by art therapist and artist Georgina Obaya Evans. The group was kept engaged throughout the programme through online sessions and planning meetings. A second part of the Syllabus VI retreat was delayed to autumn 2021 and focused of notions of working with archives.

Stuart Hall Library Artist’s Residency 2020

In collaboration with Stuart Hall Foundation, artist, writer and educator Rosa-Johan Uddoh was selected for the fourth Stuart Hall Library Artist’s Residency. Despite the lockdown in London, the artist was keen to begin her residency. The artist began her residency in May 2020. We selected Uddoh for her ongoing interest in her practice concerning the construction of the performative act and characterisation in popular culture that produces the black or British subjectivity. Uddoh’s previous work has drawn on popular figures such as Moira Stuart, Hercule Poirot, Venus Williams, Una Marson. Rosa-Johan Uddoh furthered her research into Stuart Hall's writings and following the residency, has produced a text for Dazed & Confused Magazine, which was subsequently used in her video work commissioned by Focal Point Gallery.

Reflections on Public Realm

Between March and April 2021 iniva worked in partnership with GLA on a project for the ‘Commission for Diversity in the Public Realm’. The project included starting conversations around

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

public space and collective memory in London with artists Ting-Ting Cheng, YARA + DAVINA and Harun Morrison. Each artist engaged with questions and offered prompts for discussion on public space and social practice on our social media platforms.

The first week of March was dedicated to artist Ting-Ting Cheng and revisiting her 2018 work, “2 March 1981” that retraces Black People’s Day of Action, one of the biggest marches against racism in UK at the time.

Mid-March was dedicated to social practice duo YARA + DAVINA who invited audiences to actively participate in their public artwork Arrivals + Departures, installed at BAM in New York, and in doing so ask questions about the role of public art and memorials. Arrivals + Departures is a large-scale public art installation that pays tribute to people—both those entering the world and leaving it.

The final section of the project was dedicated to artist and writer Harun Morrison and his text “Ice Cream over Bronze”. Divided into three parts, this commissioned piece proposed three monuments for the future, interrogating our relationship with public space.

iniva and Art Night

iniva and Art Night continued their partnership from 2019 into 2020. Due to the outbreak of COVID-19 the night in 2020 was postponed. Art Night took on a new model of partnership with cultural organisations across the country. iniva and Art Night worked together to commission fanzine makers OOMK (One Of My Kind). A rare full set of the publication is held with Stuart Hall Library. Represented by Rose Nordin OOMK contributed STUART Papers which brought together artists and makers who practice has drawn from time spent at Stuart Hall Library. 30,000 papers were distributed across the country during a month of activity in July 2021.

Exhibitions

Ben Yau: Proximate Currents – When Everything Fuses together

In June 2020, iniva 's first online exhibition, Proximate Currents – When Everything Fuses together brought together a montage of found footage and imagery that took Stuart Hall’s essay on the Neoliberal Revolution as a starting point. Ben Yau who has previously been on a work placement with iniva had originally planned for the exhibition to exhibit in the library. After the lockdown, Ben made the work to be shown online and we have had over 1000 views of the video work which was streamed live on Facebook for the opening and now is on iniva ’s Vimeo channel.

The public programme of the exhibition has included an in conversation with Benjamin Cook the director of LUX and continued with a reading group with Annie Jael Kwan and Cubitt residency curators Languid Hands, to reflect how the work echoes some of today’s concerns around state violence.

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

Stuart Hall Library

The Stuart Hall Library continues to be an invaluable resource for contemporary art with 125 new users signed up for library membership during the pandemic.

While the library was physically closed to the public for the year, we increased visibility of the collection through the launch of our first online podcast ‘Chatting the Stacks’ in April 2020. The six-episode series led by our Curatorial Trainee with library volunteers discussing their area of research interest in art and culture from the collection with cultural recommendations was streamed 897 times on SoundCloud, Spotify and Apple podcast platforms.

Our library and archive staff increased digital accessibility to the library collection for local and international users by remotely cataloguing items and making them available online in our Library Management System, KOHA. Simultaneously, as we worked towards a post-pandemic future, we moved our popular Research Network public events and reading groups online to continue to facilitate research into artistic practice within the public forum.

In the autumn, we prepared to reopen the library to the public with reduced opening hours by focusing on purchasing gaps in the collection, materials to support our public programme and claiming lost journal issues disrupted by global shipping and postage issues. There was a targeted initiative to purchase books, journal articles and exhibition catalogues in PDF or web format with accessibly linked to our catalogue to ensure support and access for worldwide users. We also waived photocopying fees to help alleviate the financial pressure on our users while meeting the increased demand for scanning of physical materials from the collection.

Through funds from Cockayne Grants for the Arts, staff in reception are now supported by an iPad to register users swiftly and a Goodbox for a contactless donation point to take cash free donations, supporting the work of the library. To connect library visitors to our other programming and events we have purchased a large flat screen TV which will be mounted in the reception area. Helping researchers or library visitors understand iniva ’s broader work nationally and attend events hosted in the library and beyond.

Reading Groups & Research Network

In celebration of iniva 25th Anniversary Year, from April 2020 through to March 2021, our Research Network programmed ‘Global Revisions’, hosting 7 artists and researchers to present their work around iniva ’s founding ideas of new internationalism and globalisation.

Participants selected through an open call to bring new dialogue around the theme through artistled presentations and open reading groups included Leila Mehulic, Katy Shahandeh, Jessica Taylor, Deniz Sözen, Xiaoyi Nie, Bo Choy and Fortunata Calabro.

For the first time ever the entire programme was delivered and hosted online in 10 events with 473 attendees with video and audio recordings of events on YouTube and SoundCloud viewed 665 times.

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

Our 2021-22 programme ‘Archipelagos in Reserve’ will feature a blended programme of physical and digital events that aims to explore the ‘archipelagic’ as a cartography of thought that finds commonalities and affinities in waves, movement and post-colonial & ecological Black and Asian feminist practice.

iniva Creative Learning

ArtLab

ArtLab is funded by Children in Need to deliver integrated art and art therapy workshops to 15 children from years 4 – 5 at Earlsmead Primary School in Tottenham over one term per year for three years. Now in its final year we selected according to social / emotional needs, and interest in art. The workshops were delayed until January 2021 because of school closure and a reduced access to the schools by external guests or visitors.

The workshops led by artist Shepherd Manyika, art therapist Anna Sikorska and supported by iniva trainee Tammi Bello created a safe space for the children to develop their confidence, their emotional, creative, critical thinking and visual literacy skills. It also provided a supportive and caring environment which fostered new cross year friendships, the effect of COVID-19 and the subsequent lockdowns dramatically impacted the confidence and stability of participants. The project provided the opportunity to showcase the pupils work in an exhibition, curated by Shepherd Manyika at the Stuart Hall Library at iniva with a closing event for family and friends and the wider public.

Contemporary Art Space

The Contemporary Art Space project was launched in the West Midlands through funding from The Saintbury Trust, The Elmley Foundation and partnership agreement with RSA Academies. This saw the delivery of artist and art therapist led workshops in three schools with 15 children from each school. Through a process of collaboration between the artists and the children, three new works of art were created and installed in outdoor spaces accessible by all. A programme of whole school engagement followed resulting in a series of resources that support and extend the understanding around each artwork.

The three ArtLab sessions have been held in all three ‘original artwork’ schools, namely Abbeywood First School, RSA Academy in Tipton and Holyhead School, working with Haseebah Ali, Toni Lewis and De’Anne Crooks respectively.

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

The artworks from Year 1, have all been refreshed and installed in the ‘touring schools’, namely St Stephen’s CE First School, Arrow Vale and Sutton Park Primary. We have run teacher CPD sessions in St Stephen’s and Sutton Park aiming to generate whole school support for engagement in the artworks and creative responses to it. We brought to light the potential opportunities for supporting oracy (a key school priority) using the artwork and resources created (emotional learning card, artist worksheets and Amerah Saleh’s poem) as stimulus. We have also connected the schools to the artists, encouraging visits/talks/workshops. The response so far has been great.

My Westminster

Funded by Westminster Council, this project provided iniva with the opportunity of introducing itself to its new local area of Westminster.

Over the course of the pandemic My Westminster workshop project worked with artist Zarah Hussain to create an activity pack, alongside online videos to encourage participants (particularly female) to develop creative skills and invited responses that demonstrate existing creative hobbies e.g. gardening, sewing, painting, displaying objects on a mantelpiece. This is a project with the Women’s Network at Westminster Council working with ETAT (Encouragement through the arts and talking), Open Age, Mosaic Trust, and ESOL communities to engage isolated individuals who faced extended periods of lockdown. An online sharing event was held alongside a physical exhibition at the Westminster Town Hall (22 March -22 June 2021)

Emotional Learning

Funded and in partnership with Barking and Dagenham Culture and Wellbeing department, iniva delivered two workshops, one tailored to primary teachers and another one to secondary teachers, facilitated collaboratively by an art therapist and an artist.

The aims of the workshop were:

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

We worked with the artists Rudy Loewe and Zarah Hussain and art therapist Georgina Obaya Evans (from A Space art therapy service) to deliver workshops that provided a space for emotional learning through creativity. The workshops explored contemporary international artists work to open up new vocabulary and thinking, opening discussions around the issues that affected us over the period of lockdowns due to the global pandemic in 2020.

Space was made for discussion around difference such as class, culture, gender and race and how this impacted our national wellbeing throughout the pandemic. The workshops included 'hands on' exploration of key themes and art exercises which could be used or adapted for inclusion in continued individual practice, group or individual sessions with all ages.

Internships, trainees and placement opportunities

During the global pandemic the UK underwent a number of lockdowns to quell and reduce the impact of the COVID - 19 outbreak. iniva usually offers a number of internships, traineeships and placement opportunities in partnership with universities, galleries, museums and initiatives. As iniva ’s team was much reduced and did not have access to the Stuart Hall Library we reduced this programme of supporting entry level opportunities. Through the year we recruited for a Curatorial Trainee in partnership with Barbican Art Gallery.

Throughout 2020 we continued to partner with Barbican Art Gallery for the third year, with a one day per week placement for a Curatorial Trainee, Chloe Austin. Chloe was based at the Stuart Hall Library and was focused on a number of initiatives including research for our “People Directory” archive, and went on to produce our first podcast series, “Chatting in the Stacks”.

In January 2021 we launched the recruitment with an online Visual Arts Open Workshop in partnership with Barbican Art Gallery and Chisenhale Gallery.

In 2020 we gained funding from Artquest in partnership with University of the Arts London helped us to support student Ben Yau to join us as a paid, 6-month, Digital Internship until May 2020. We were also proud to be able to offer our first iniva Scholarship, again in partnership with University of the Arts London and generously supported by KEL Trust. The Scholarship was established to support a postgraduate student on the MA Curating and Collections course at Chelsea College of Arts and provided a contribution towards course tuition fees and living expenses.

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

Organisational Development

In 2020 iniva attracted significant additional funding to our landmark project Future Collect. £146,000 from Art Fund and £120,000 Esmée Fairbairn Foundation will allow us to deliver this project in full in two further locations in 21/22 and 22/23.

We applied successfully for Covid-response Emergency Funds totalling £13,255 from Children in Need and National Lottery Awards for all in order to continue and enhance our ArtLab programme in 2020 producing online resources for schools, mail-out packs for children, and a publication.

In March 2020 iniva received £54,000 from Esmée Fairbairn’s Racialised Communities Top Up Fund, which funded organisations led by individuals from racialised communities to improve social justice and equality in the arts and culture sector.

We were awarded £500 match funding from Townsweb Archiving in December 2020 in order to begin digitising files from our Veil archive in 2021.

In November 2020 the Freelands Foundation announced that they would support iniva with a grant of approximately £500,000 over three years to transform current programming, embedding education throughout our work, allow for sustainable reach by recruiting 4 new staff posts including a Communications Manager and a Business Development Manager, and allowing for a cultural mapping and organisational review. This work will begin in 21/22.

iniva collapsed the tiered nature of its supporters’ scheme in September 2020 to reflect the inclusive and non-hierarchical approach we take in all of our work. All supporters regardless of level of giving are now a community of Friends. Despite the pandemic iniva grew its core group of 20 Friends and with additional one-off donations made.

Financial review

iniva ’s income remained consistent this year, at £551,185 (2020: £565,027). Some areas of income were impacted by Covid-19 and the consequent closure of the Stuart Hall Library and office space for 9 months this year, principally sales of artwork and publications, income generation activities and grant funding for the library, with a net decrease of £84,934 across these areas. This was offset by support from the CJRS furlough scheme (£31,701), and an unsolicited major unrestricted grant from the Esmée Fairbairn Foundation (£54,000). Grant income from non-Arts Council England sources increased by 80% to £258,833 (2020: £143,720), 47% of total income for the year.

Income from individual donations and the iniva membership scheme was not affected by Covid-19 and remained consistent at £18,165 (2020: £18,560).

Expenditure in the year was £356,437, a reduction of 21% from 2020 (2020: £452,625). This reflects delays in delivery of some programme and trading activities due to Covid-19, a significant rent

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

rebate for the 9 month period of closure of the UAL site, and a reduction in freelance and interim staff support costs due to reduced activity and the ending of the library fit-out work in 2019/20.

Project costs decreased by 31% to £75,505 (2020: £108,741), due to a reduction in project activities arising from Covid-19.

Principal risks and uncertainties

The risk register has been updated and is being reviewed by the Finance Committee and annually by the Board. Risk management is an ongoing activity for the organisation with each item on the register and relevant strategies for mitigation discussed regularly by the Director and General Manager, quarterly at Finance Committee and with the Board. Risk is addressed in the Arts Council England’s annual survey and the feedback letter is also shared with the Board. The current major risks identified for the organisation are financial, as we develop and refine our partnership-driven business model.

Fundraising Disclosures

iniva ’s fundraising is done in-house, led by a Development Manager supported by individual team members. Fundraising strategy is signed off by the Board of Trustees. Individual applications, pitches and other approaches are signed off by the Director and/or Deputy Director. iniva does not work with third parties to undertake fundraising. iniva abides by the spirit of the Code of Fundraising Practice - iniva ’s fundraising work is legal, open, honest and respectful. The organisation has received no complaints in relation to our fundraising practice. iniva ’s direct approaches and appeals are very limited and strategically targeted to parties with an existing interest in our work – the risk to vulnerable people from iniva ’s fundraising activities is minimal.

Reserves policy and going concern

Following a move of premises in the previous year, which utilised free reserves to cover relocation costs and development of the new Stuart Hall Library, the Board’s aims are now to rebuild a sufficient reserve to cover between 3-6 months’ operating costs.

The current level of unrestricted free reserves (excluding net book value of tangible assets) is £202,152 (2020: £76,345) which represents 51% of core operating costs in the 2021/22 budget. The reserves at the end of 2020/21 therefore exceed our minimum threshold as set out of 3 months operating costs.

In the light of Covid 19, iniva considers it prudent to maintain a slightly higher level of reserves to ensure operational continuity in the event of any medium-term reduction in other income streams (e.g., trading and membership income in particular), or increased operating costs.

iniva has secured sufficient income to cover its operating and programmes activity budgets for 2021/22, and forecasts generating a small operating surplus for the year.

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

Plans for the future

In light of the events of 2020, commencing with COVID 19 and ending with Brexit; the lasting impact of witnessing the murder of George Floyd; the subsequent ripples of grass roots led activism such as Black Lives Matter and the global civil rights activity; the devastating effect of extractive practices on environmental collapse; the demand for the removal of public monuments representing oppressive horrors of our entangled histories in the Transatlantic slave trade; the backlash by artists towards statements made by cultural institutions, the need for iniva in 21/22 and beyond has become increasingly clear.

iniva has been called upon to lead the discussions on how cultural institutions could respond, and also asked by artists to act as mediators in support of their voice with cultural institutions and the wider society. iniva is frequently invited to be part of cultural networks to represent marginalised voices and participate in a number of panel discussions and lectures to discuss and share our knowledge, models of practice and expertise. In 21/22 iniva will embark on a series of consultations through its networks to investigate what are the challenges that artists face, and how do we meet them in their challenge? How do we create anti-racist and equitable spaces for artists to work in without fear? And how do we support an artistic community through our policies, personnel, partnerships, practices, processes and programmes.

iniva remains a significant cultural institution where artists, cultural producers and publics come together, not to hide from the difficulties and challenges we face as cultural institutions and creative communities, but to devise new tools, new ways of being with and thinking through art practice. Recognising art as a powerful tool to tackle social injustice and inequity, art as a way of coming together for collective study, art as a language to create meaningful engagements and experiences, art as an expression of creative play and experimentation, art as a social relation that creates affinity, art that creates community, art coupled with therapy as a reparative resource for creative learning.

After this last year of social distancing, remote working and isolation, we believe art and culture can rebuild community by reminding us what it means to be human. Culture, in these desperate times is not only necessary but essential. We are excited to define what art can be through creating an infrastructure to support new artistic and curatorial work, collective study, experimentation, play, individual research, radical forms of producing, exchanging and sharing knowledge together.

The direction of iniva will be driven through our networks, collective research and dialogue with those whom who we find affinity to support creative individuals nationally, communities locally and to share our practice internationally. We also recognise that we have a responsibility to challenge the cultural sector and to ask the difficult questions. In 21/22 Our research begins with Archipelagos in Reverse a programme that brings together six Research Associates and partner organisations to explore what it means to work in the poetics of relation, in the wake of a Black Radical Tradition, how can the archipelagic be a mode of operation for a small-scale research led

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The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

institution to visualise the International entangled geographies of our Great British Isle.

Structure, governance and management

iniva has eight staff led by an Artistic Director. The Artistic Director is accountable to the board of trustees.

The organisation is a charitable company limited by guarantee, incorporated on 6 December 1993 and registered as a charity on 27 January 1994.

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.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 8 (to the accounts).

Appointment of trustees

As set out in the Articles of Association, the Chair of Trustees is nominated by the Directors of the Institute of International Visual Arts Ltd. The Directors are also the Charity Trustees for the purposes of Charity Law. The Board of Trustees has the power to appoint additional Trustees as it sees fit, to a maximum of fifteen trustees. One third of the Trustees retire annually and may be reelected. The Trustees have no beneficial interest in the company other than as members, they are only entitled to voting rights. All of the Trustees are members of the company and guarantee to contribute £1 in the event of winding up.

The total number of such guarantees at 31 March 2021 was eight (2020: nine).

Statement of responsibilities of the trustees

The trustees (who are also Directors of Institute of International Visual Arts for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

15

The Institute of International Visual Arts

Trustees’ annual report

For the year ended 31 March 2021

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

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The opinion of the directors is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies

The directors acknowledge the following responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on 19 November 2021 and signed on their behalf by

Anita Bhalla OBE Chair

16

Independent examiner’s report

To the members of

The Institute of International Visual Arts

I report to the trustees on my examination of the accounts of The Institute of International Visual Arts for the year ended 31 March 2021.

This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed.

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 charity’s accounts 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

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accounts in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

17

Independent examiner’s report

To the members of

The Institute of International Visual Arts

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.

Noelia Serrano FCA Independent examiner Date: 6 December 2021 Sayer Vincent LLP Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

18

The Institute of International Visual Arts

Statement of financial activities

For the year ended 31 March 2021

Unrestricted
Note
£
Income from:
2
336,412
3
-
3
-
3
-
3
-
4
9,341
599
346,352
5
64,487
5
80,148
5
70,826
5
17,768
233,229
6
113,123
Reconciliation of funds:
211,710
324,833
Investments
Total income
Expenditure on:
Donations and legacies
Charitable activities
Other income and trading activities
Public Programme
Stuart Hall Library
iniva Learning
Income generation activities
Raising funds
Total expenditure
Charitable activities
Public Programme
Stuart Hall Library
iniva Learning
Total funds brought forward
Total funds carried forward
Net movement in funds		 Unrestricted
Note
£
Income from:
2
336,412
3
-
3
-
3
-
3
-
4
9,341
599
346,352
5
64,487
5
80,148
5
70,826
5
17,768
233,229
6
113,123
Reconciliation of funds:
211,710
324,833
Investments
Total income
Expenditure on:
Donations and legacies
Charitable activities
Other income and trading activities
Public Programme
Stuart Hall Library
iniva Learning
Income generation activities
Raising funds
Total expenditure
Charitable activities
Public Programme
Stuart Hall Library
iniva Learning
Total funds brought forward
Total funds carried forward
Net movement in funds		 Restricted
£
-
159,710
-
45,123
-
-
-		 2021
Total
£
336,412
159,710
-
45,123
-
9,341
599		 Unrestricted
£
246,904
-
-
-
-
32,713
758		 Restricted
£
-
186,622
41,785
36,468
19,777
-
-		 2020
Total
£
246,904
186,622
41,785
36,468
19,777
32,713
758
346,352 204,833 551,185 280,375 284,652 565,027
64,487
80,148
70,826
17,768		 1,000
82,446
3,927
35,835		 65,487
162,594
74,753
53,603		 91,690
83,259
83,017
23,202		 36,454
47,645
44,841
42,517		 128,144
130,904
127,858
65,719
233,229 123,208 356,437 281,168 171,457 452,625
113,123
211,710		 81,625
158,002		 194,748
369,712		 (793)
212,503		 113,195
44,807		 112,402
257,310
324,833 239,627 564,460 211,710 158,002 369,712

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.

19

The Institute of International Visual Arts

Company no. 02881612

Balance sheet

As at 31 March 2021

Note
Fixed assets:
11
Current assets:
12
Liabilities:
13
15
Total unrestricted funds
General funds
Total funds
Share capital and funds:
Funds
Restricted income funds
Unrestricted income funds:
Designated funds
Cash at bank and in hand
Tangible assets
Debtors
Creditors: amounts falling due within one year
Net current assets
Total net assets		 £
17,407
498,900		 2021
£
122,681		 4,735
297,579		 2020
£
135,365
122,681
441,779		 135,365
234,347
516,307
(74,528)		 302,314
(67,967)
118,592
206,241		 131,647
80,063
564,460 369,712
239,627
324,833		 158,002
211,710
564,460 369,712

The opinion of the directors is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge the following responsibilities:

These accounts have been prepared in accordance with the special provisions applicable to small companies subject to the small companies' regime.

Approved by the management committee on 19 November 2021 and signed on their behalf by

Anita Bhalla OBE Chair

20

The Institute of International Visual Arts

Statement of cash flows

For the year ended 31 March 2021

Note
£
£
Net income for the reporting period
194,748
(as per the statement of financial activities)
Depreciation charges
15,010
Interest
(599)
(Increase)/ decrease in debtors
(12,672)
Increase/ (decrease) in creditors
6,561
203,048
599
(2,326)
(1,727)
201,321
297,579
498,900
Cash flows from operating activities
Net cash (used in) investing activities
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
2021		 Note
£
£
Net income for the reporting period
194,748
(as per the statement of financial activities)
Depreciation charges
15,010
Interest
(599)
(Increase)/ decrease in debtors
(12,672)
Increase/ (decrease) in creditors
6,561
203,048
599
(2,326)
(1,727)
201,321
297,579
498,900
Cash flows from operating activities
Net cash (used in) investing activities
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
2021		 Note
£
£
Net income for the reporting period
194,748
(as per the statement of financial activities)
Depreciation charges
15,010
Interest
(599)
(Increase)/ decrease in debtors
(12,672)
Increase/ (decrease) in creditors
6,561
203,048
599
(2,326)
(1,727)
201,321
297,579
498,900
Cash flows from operating activities
Net cash (used in) investing activities
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
2021		 £
£
112,402
14,064
(758)
3,051
(24,362)
104,397
758
(20,534)
(19,776)
84,621
212,958
297,579
2020		 £
£
112,402
14,064
(758)
3,051
(24,362)
104,397
758
(20,534)
(19,776)
84,621
212,958
297,579
2020
201,321
297,579		 84,621
212,958
498,900 297,579

21

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies

a) Statutory information

The Institute of International Visual Arts is a charitable company limited by guarantee and is incorporated in the United Kingdom. The registered office address is 16 John Islip Street, London SW1P 4JU.

b) 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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

In 2019 the Board revised iniva's reserves policy to provide for 3-6 months standard operating costs. Unrestricted free reserves at the year end are sufficient for 6.1 months operating costs, based on the 2021/22 budget. The majority (96%) of total budgeted income for 2021/22 is already secured (91% of Unrestricted income).

The Board of Trustees does 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 amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when receivable. Intangible income is recognised as an incoming resource where the provider of the service has incurred a financial cost. Volunteer time is not included in the financial statements.

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.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the Board of Trustees for particular purposes.

h) 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:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

22

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

i) Allocation of support costs

Where information about the aims, objectives and projects of the company is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the company is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

Public Programme 39%
Stuart Hall Library 25%
iniva Learning 8%
Raising funds 16%
Support costs 6%
Governance costs 6%

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on total expenditure, of the amount attributable to each activity

Public Programme 46%
Stuart Hall Library 21%
iniva Learning 15%
Raising funds 18%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

iniva received a rent-free period for the first year of the property lease, commencing 24 September 2018. The rent-free saving has been amortized over the first 5 years of the lease, up to the first break point. The full annual rental cost is £60,000, and the amortization of the rent-free period reduces the annual rent by £12,000.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

 Furniture 3 years  Fixtures and fittings 5 years  Computer and office equipment 3 years  Leasehold improvements over the duration of the lease (15 years)

l) 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.

m) 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. Cash balances exclude any funds held on behalf of service users.

23

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

n) Creditors and provisions

o) Pensions

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

2 Income from donations and legacies

Income from donations and legacies
Esmée Fairbairn Foundation
CJRS Furlough scheme
Arts Council England NPO core grant
Gifts		 Unrestricted
£
18,165
31,701
232,546
54,000		 £
-
-
-
-
Restricted		 2021
Total
£
18,165
31,701
232,546
54,000		 Unrestricted
£
18,560
-
228,344
-		 £
-
-
-
-
Restricted		 2020
Total
£
18,560
-
228,344
-
336,412 - 336,412 246,904 - 246,904

3 Income from charitable activities

Arlis UK Eire
Art on the Underground
Cockayne Grants for the Arts
Esmée Fairbairn Foundation
Greater London Authority
Kel Trust
London Borough of Waltham Forest
Manchester Art Gallery
National Art Collections Fund
Stuart Hall Foundation
Wysing Art Centre
Sub-total for Public Programme
Arts Council England Managed Funds
Cockayne Grants for the Arts
Sub-total for Stuart Hall Library
BBC Children In Need
London Borough of Barking & Dagenham
National Association for Gallery Education
National Lottery Community Fund
RSA Academies
The Elmley Foundation
Westminster City Council
Sub-total for iniva Learning
Art Jameel
Arts Council England Catalyst Grant
Sub-total for Income generation
Total income from charitable activities
Arts Council England Project Fund		 Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
£
-
-
-
-
70,000
2,000
10,000
-
7,000
65,700
2,500
2,510		 2021
Total
£
-
-
-
-
70,000
2,000
10,000
-
7,000
65,700
2,500
2,510		 Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
£
500
4,500
100,000
4,870
-
-
5,000
500
-
66,352
2,500
2,400		 2020
Total
£
500
4,500
100,000
4,870
-
-
5,000
500
-
66,352
2,500
2,400
-
-
-		 159,710
-
-		 159,710
-
-		 -
-
-		 186,622
21,655
20,130		 186,622
21,655
20,130
-
-
-
-
-
-
-
-		 -
13,293
4,800
200
9,962
14,125
-
2,743		 -
13,293
4,800
200
9,962
14,125
-
2,743		 -
-
-
-
-
-
-
-		 41,785
10,000
-
-
-
14,625
3,000
8,843		 41,785
10,000
-
-
-
14,625
3,000
8,843
-
-
-		 45,123
-
-		 45,123
-
-		 -
-
-		 36,468
500
19,277		 36,468
500
19,277
- - - - 19,777 19,777
- 204,833 204,833 - 284,652 284,652

24

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

Income from trading activities
Sales of publications and learning
Sales of artwork
Exhibitions and events income
Other income		 2021
Total
£
5,297
2,280
1,019
745		 2020
Total
£
7,102
23,528
819
1,264
9,341 32,713

All trading activities were unrestricted in 2021 and 2020.

25

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

5a Analysis of expenditure (current year)

Staff costs (Note 7)
Other staff costs
Office running costs
Premises costs
Depreciation
Project costs
Building relocation costs
Travel & meeting costs
Direct costs of trading activities
Audit, legal & professional
Support costs
Governance costs
Total expenditure 2021
Total expenditure 2020		 Cost of
raising funds
£
43,130
2,632
3,184
1,920
-
13
-
-
4,345
-		 Charitable activities Charitable activities Charitable activities Governance
costs
£
18,254
987
1,194
720
-
-
-
-
-
4,320		 Support
costs
£
10,906
986
1,194
720
15,010
1,570
-
-
-
-		 2021
Total
£
208,910
16,448
19,899
12,000
15,010
75,505
-
-
4,345
4,320		 2020
Total
£
188,388
48,969
18,232
48,569
14,064
108,741
3,926
91
17,713
3,932
Public
Programme
£
75,960
6,415
7,761
4,680
-
42,296
-
-
-
-		 Stuart Hall
Library
£
44,715
4,112
4,975
3,000
-
6,236
-
-
-
-		 iniva Learning
activities
£
15,945
1,316
1,591
960
-
25,390
-
-
-
-
55,224
5,583
4,680		 137,112
13,861
11,621		 63,038
6,372
5,343		 45,202
4,570
3,831		 25,475
-
(25,475)		 30,386
(30,386)
-		 356,437
-
-		 452,625
-
-
65,487 162,594 74,753 53,603 - - 356,437 452,625
128,144 130,904 127,858 65,719 - - 452,625

26

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

5b Analysis of expenditure (prior year)

Charitable activities

Staff costs (Note 7)
Other staff costs
Office running costs
Premises costs
Depreciation
Project costs
Building relocation costs
Travel & meeting costs
Direct costs of trading activities
Audit, legal & professional
Support costs
Governance costs
Total expenditure 2020		 Cost of
raising funds
£
38,766
7,835
2,917
7,771
-
36,170
628
-
17,713
-		 Public
Programme
£
51,571
12,243
4,558
12,143
-
32,712
982
-
-
-		 Stuart Hall
Library
£
57,080
19,098
7,110
18,942
-
7,790
1,531
-
-
-		 iniva Learning
activities
£
15,967
4,407
1,641
4,371
-
30,598
353
-
-
-		 Governance
costs
£
14,713
2,448
912
2,428
-
-
196
-
-
3,932		 Support
costs
2020
Total
£
£
10,291
188,388
2,938
48,969
1,094
18,232
2,914
48,569
14,064
14,064
1,471
108,741
236
3,926
91
91
-
17,713
-
3,932
33,099
452,625
(33,099)
-
-
-
-
452,625
111,800
9,371
6,973		 114,209
9,572
7,123		 111,551
9,350
6,957		 57,337
4,806
3,576		 24,629
-
(24,629)
128,144 130,904 127,858 65,719 -

27

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2021 2020
£ £
Depreciation 15,010 14,064
Operating lease rentals:
Property 12,000 48,000
Independent Examiner's remuneration (excluding VAT):
Independent Examination 3,100 2,500
under/ (over) accrual for prior year Independent Examination 600 (112)

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes		 2021
£
193,192
12,004
3,714		 2020
£
173,940
11,395
3,053
208,910 188,388

The following number of employees received employee benefits (excluding employer pension costs and national insurance) during the year between:

2021 2020
No. No.
£60,000 - £69,999 - -

The total employee benefits including pension contributions and national insurance of the key management personnel were £81,812 (2020: £63,673).

The Board of Trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil). No member of the Board of Trustees received payment for professional or other services supplied to the charity (2020: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £0 (2020: £306) incurred by zero (2020: 1) trustees relating to attendance at meetings of the trustees.

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Raising funds
Support
Stuart Hall Library
Charitable activities
Public Programme
iniva Learning		 2021
No.
1.6
3.4
2.0
1.0
1.0		 2020
No.
1.4
1.8
3.1
1.0
0.8
9.0 8.1

28

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

9 Related party transactions

There are no related party transactions to disclose for 2021 (2020: no related parties).

In 2018/19 iniva received a grant of £10,000 from The Saintbury Trust. A trustee of iniva is also a trustee of The Saintbury Trust. This grant has been fully expended over 2019/20 and 2020/21.

10 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11 Tangible fixed assets

Tangible fixed assets
At the end of the year
At the end of the year
Net book value
Depreciation
At the end of the year
Additions in year
At the start of the year
Cost
Charge for the year
At the start of the year
At the start of the year		 Leasehold
Improvement
£
125,991
-		 Fixtures and
fittings
£
34,715
1,014		 Furniture
£
19,256
-		 Computer
and office
equipment
£
32,672
1,312		 Total
£
212,634
2,326
125,991 35,729 19,256 33,984 214,960
12,441
8,424		 16,287
4,796		 17,521
827		 31,020
963		 77,269
15,010
20,865 21,083 18,348 31,983 92,279
105,126 14,646 908 2,001 122,681
113,550 18,428 1,735 1,652 135,365

12 Debtors

Debtors
Other debtors
Trade debtors
Accrued Income
Prepayments		 2021
£
2,645
529
10,000
4,233		 2020
£
1,665
173
-
2,897
17,407 4,735
Creditors: amounts falling due within one year
Taxation and social security
Trade creditors
Accruals		 2021
£
21,836
3,865
48,827		 2020
£
15,973
4,020
47,974
74,528 67,967

29

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

14a Analysis of net assets between funds (current funds)

Net current assets
Tangible fixed assets
Net assets at 31 March 2021		 General
unrestricted
£
4,089
202,152		 Designated
£
118,592
-		 Restricted
£
-
239,627		 Total funds
£
122,681
441,779
206,241 118,592 239,627 564,460
14b
Net assets at 31 March 2020
Tangible fixed assets
Net current assets
Analysis of net assets between funds (prior year)		 General
unrestricted
£
3,718
76,345		 Designated
£
131,647
-		 Restricted
£
-
158,002		 Total funds
£
135,365
234,347
80,063 131,647 158,002 369,712

30

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

Income generation & development
Arts Council England Catalyst Grant
Public Programme
Arlis UK Eire
Arts Council England Project Fund
Cockayne Grants for the Arts
Esmée Fairbairn Foundation
Greater London Authority
Manchester Art Gallery
National Art Collections Fund
The KELTrust
The Stuart Hall Foundation
Wysing Art Centre
Stuart Hall Library
Arts Council England Managed Funds
Cockayne Grants for the Arts
iniva Learning Activities
BBC Children In Need
London Borough of Barking & Dagenham
National Association for Gallery Education
National Lottery Community Fund
RSA Academies
The Arts Society
The Saintbury Trust
Westminster City Council
Total restricted funds
Total designated funds
General funds
Total unrestricted funds
Restricted funds:
Unrestricted funds:
Designated funds:
Total funds
Library fit-out		 At 1 April
2020
£
1,000
148
90,432
3,400
-
-
-
50,170
-
-
-
(3,400)
4,344
6,166
-
-
-
581
161
5,000
-		 Income
£
-
-
-
-
70,000
2,000
7,000
65,700
10,000
2,500
2,510
-
-
13,293
4,800
200
9,962
14,125
-
-
2,743		 Expenditure
£
(1,000)
(148)
(32,548)
-
(10,000)
(2,000)
(4,833)
(25,586)
(2,321)
(2,500)
(2,510)
-
(3,927)
(7,294)
(4,800)
(200)
(9,962)
(5,675)
(161)
(5,000)
(2,743)		 Transfers
£
-
-
-
(3,400)
-
-
-
-
-
-
-
3,400
-
-
-
-
-
-
-
-
-		 £
-
-
57,884
-
60,000
-
2,167
90,284
7,679
-
-
-
417
12,165
-
-
-
9,031
-
-
-
At 31 March
2021
158,002 204,833 (123,208) - 239,627
131,647 - (13,055) - 118,592
131,647
80,063		 -
346,352		 (13,055)
(220,174)		 -
-		 118,592
206,241
211,710 346,352 (233,229) - 324,833
369,712 551,185 (356,437) - 564,460

31

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

Income generation & development
Art Jameel
Arts Council England Catalyst Grant
Public Programme
Arlis UK Eire
Art On The Underground
Arts Council England Project Fund
Cockayne Grants for the Arts
London Borough of Waltham Forest
National Art Collections Fund
The KEL Trust
The Stuart Hall Foundation
University of the Arts London
Wysing Art Centre
Stuart Hall Library
Arts Council England Managed Funds
Business Archives Council
Cockayne Grants for the Arts
iniva Learning Activities
BBC Children In Need
RSA Academies
The Arts Society
The Elmley Foundation
The Saintbury Trust
Westminster City Council
Total restricted funds
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds:
Restricted funds:
Library fit-out
Designated funds:		 At 1 April
2019
£
-
17,677
-
-
-
3,400
-
-
-
-
1,773
-
-
4,000
-
6,457
-
1,500
-
10,000
-		 Income
£
500
19,277
500
4,500
100,000
4,870
500
66,352
5,000
2,500
-
2,400
21,655
-
20,130
10,000
14,625
-
3,000
-
8,843		 Expenditure
£
(500)
(35,954)
(352)
(4,500)
(9,568)
(4,870)
(500)
(16,182)
(5,000)
(2,500)
(1,773)
(2,400)
(25,055)
(4,000)
(15,786)
(10,291)
(14,044)
(1,339)
(3,000)
(5,000)
(8,843)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At 31 March
2020
£
-
1,000
148
-
90,432
3,400
-
50,170
-
-
-
-
-
(3,400)
-
4,344
6,166
581
161
-
5,000
-
44,807 284,652 (171,457) - 158,002
126,818 - - 4,829 131,647
126,818
85,685		 -
280,375		 -
(281,168)		 4,829
(4,829)		 131,647
80,063
212,503 280,375 (281,168) - 211,710
257,310 565,027 (452,625) - 369,712

32

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

Purposes of restricted and designated funds

Restricted funds

Arts Council England Catalyst grant - funds for developing philanthropy, awarded in partnership with Pavilion, Leeds.

Arlis UK Eire - funds to support partnership working with Tate Britain and Chelsea College of Art.

Arts Council England Project Fund - grant for Future Collect project.

Cockayne Grants for the Arts - funds for Saturday openings and associated library activity.

Esmée Fairbairn Foundation - unrestricted funds donation to organisations led by and working with people from "Racialised Communities"

Greater London Authority - funds to support iniva's work with artists to explore themes within the GLA's "Commission for Diversity" in the public realm.

Manchester Art Gallery - funds to cover the extension of Future Collect Curatorial trainee role.

National Art Collections Fund - grant for Future Collect project.

The KEL Trust - to support postgraduate student in partnership with UAL

The Stuart Hall Foundation - grant to support Stuart Hall Library artists' residency.

Wysing Arts Centre - grant for Syllabus activities.

Arts Council England Managed Funds - for library Saturday openings and associated workshop activity.

BBC Children In Need - grant for arts and therapy workshops in schools.

London Borough of Barking & Dagenham - finds to support artist and therapist lead CPD opportunities for educators.

National Association for Gallery Education - Award given for excellence in Gallery Education

National Lottery Community Fund - funds to extend work with children in Birmingham though Contemporary Art Space project to support mental health and the impact of Covid 19.

RSA Academies - partnership funding to run Contemporary Arts Space project in West Midlands Schools.

The Arts Society - grant to be used for My Westminster community activities.

The Saintbury Trust - funding to support arts workshop in West Midlands schools.

Westminster City Council - funding for My Westminster community outreach project.

Designated funds

Library fit-out - capitalised costs of leasehold improvements and fixtures and fittings for the new library at UAL.

33

The Institute of International Visual Arts

Notes to the financial statements

For the year ended 31 March 2021

16 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows:

Less than one year
One to five years
Over five years
Less than one year
One to five years
Over five years		 2021
2020
£
£
43,848
48,000
66,085
118,933
-
-
2021
2020
£
£
417
457
-
386
-
-
110,350
167,776
Property
Equipment		 2021
2020
£
£
43,848
48,000
66,085
118,933
-
-
2021
2020
£
£
417
457
-
386
-
-
110,350
167,776
Property
Equipment
110,350 167,776

17 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

34