| Pa es | |||||
|---|---|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, | its Trustees and Advisors | 3-4 | ||
| Trustees' Annual Report |
5-16 | ||||
| Accountants' | Report | 17 | |||
| Independent | Auditor's | Report | 18-21 | ||
| Statement of |
Financial | Activities | 23 | ||
| Statement of |
Financial | Position | 24 | ||
| Notes to the | Financial | Statements | 25-31 |
| for the y | ear ended 31 | st March 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| REVISED | ||||||||
| Unrestricted | Restricted | |||||||
| Funds | Funds | 2021 | 2020 | |||||
| INCOME | Note | E | E | E | E | |||
| Donationsand legacies |
3 | 166,177 | 30,173 | 196,350 | 203,660 | |||
| Charitable activities |
76,978 | 2,370 | 79,348 | 89,618 | ||||
| Totalincome | 243,155 | 32,543 | 275,698 | 293,278 | ||||
| EXPENDITURE | ||||||||
| Raising funds | 34,936 | 4,912 | 39,848 | 25,543 | ||||
| Charitable activities | 218,054 | 27,631 | 245,685 | 272,562 | ||||
| Total ex enditure | 252 990 | 32,543 | 285,533 | 298,105 | ||||
| Net income/(expenditure) | and net movement | in funds | forthe year | (9,835) | 0 | (9,835) | (4,827) | |
| Reconciliation offunds |
||||||||
| Total Funds brought | forward | 92,719 | 633 | 93,352 | 98,179 | |||
| Total funds carried forward | 82,884 | 633 | 83,517 | 93,352 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Fixed Assets: | Note | 6 | 6 | |
| TangibleAssets | 13 | 121 | 413 | |
| Total fixed Assets | 121 | 413 | ||
| Current Assets |
||||
| Debtors | 14 | 20,742 | 42,534 | |
| Cash at bank and In hand |
91,608 | 79,878 | ||
| Total Current Assets | 112,350 | 122,412 | ||
| Liabilities | ||||
| Creditorsfallingduewithin | oneyear | 15 | (28,954) | (24,473) |
| Total Liabilites | (28,954) | (24,473) | ||
| Net Current Assets | 83,396 | 97,939 | ||
| Total assets less current | liabilites | 83,517 | 98,352 | |
| Creditorsfallin dueafteroneyear |
16 | 0 | (5,000) | |
| Net Assets | 83,517 | 93,352 | ||
| The fund ofthe charity | 17 | |||
| Restricted Funds | 82,884 | 92,719 | ||
| Unrestricted Funds |
633 | 633 | ||
| Total charit funds |
83,517 | 93,352 |
| FORWARD | ARTS FOUNDATION | ARTS FOUNDATION | ARTS FOUNDATION | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (A Company | Limited by Guarantee) | |||||||||||
| statement ofFinancial Activities (including Income | and expenditure | account) | ||||||||||
| forthe year ended 31stMarch | 2021 | |||||||||||
| 3) | Expenditure &Irrecoverable VAT |
|||||||||||
| Expenditure is recognised once there is a legal or constructive |
obligation to make | a payment toa | third party, | it isprobable that | ||||||||
| settlement willbe required and the amount ofthe obligation |
can be measured | reliably. | Expenditure | isclassified under the following | ||||||||
| activity headings: | ||||||||||||
| ~ Costs ofraising funds comprise the costs ofcommercial trading including the |
bar and coffee lounge and their | associated support | ||||||||||
| cost's. | ||||||||||||
| ~ Expenditure on charitable activities includes the costs ofperformances, exhibitions |
and other | educational | activities | undertaken | to | |||||||
| further the purposes ofthe charity and their associated support costs. | ||||||||||||
| ~ Other expenditure represents those items not falling into any other heading. |
||||||||||||
| Irrecoverable VATis charged as acost against the activity for which the expenditure |
was incurred. | |||||||||||
| h) | Allocation ofsupport costs | |||||||||||
| Support costs are t hose functions that assist the work ofthe charity but do not |
directly | undertake | charitable | activities. | Support costs | |||||||
| include back office costs, finance, personnel, payroll and governance costs which |
support the Trusts | artistic programmes | and activities. | |||||||||
| These costs have been allocated between cost ofraising funds | and expenditure | on | charitable activities. The bases | on which support | costs | |||||||
| have been allocated are set out in note g. | ||||||||||||
| i) | Operating Leases Thefoundationclassifiestheofficerentassn |
|||||||||||
| opeating lease. | Operatingleasesarechargedtothefitatement ofFinancial |
Activitiesona | ||||||||||
| striaght line basis over the leaseterm. | ||||||||||||
| j) | Tangiblefixed assets |
|||||||||||
| Individual fixed assets costing E1,000)2020:E1000)or more |
are capitalised at | cost and | are depreciated over |
their estimated useful |
||||||||
| economic lives on a straight line basis asfollows: |
||||||||||||
| Computer Equipment 33.3SS |
||||||||||||
| k) | Debtors | |||||||||||
| Trade and other debtors are recogni sed at the sett I erne nt amount due after any |
trade discount offered. P re payments | are | valued at the | |||||||||
| amount prepaid net ofany trade discounts due. |
||||||||||||
| I) | 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 ofthree | months or less from | ||||||||||
| the date ofacquisition or opening ofthe deposit or similar account. |
||||||||||||
| m) | 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 offunds to athird 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. | ||||||||||
| n) | Financial Instruments |
| Unrestricted | Restncted | |||||
|---|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | |||
| f | f | E | E | |||
| ArtsCouncil Grants |
98,796 | 500 | 99,296 | 50,914 | ||
| Furlough Grant |
3a | 0 | 1 173 | 1,173 | 0 | |
| Trusts &Foundations | 29,490 | 8,000 | 37,490 | 58,755 | ||
| Sponsorship | 36,200 | 15,000 | 51,200 | 46,200 | ||
| Donations(inc. | giff aid( | 1,681 | 5,000 | 6,681 | 45,291 | |
| Benefits ln Kind | 3b | 10 | 500 | 510 | 2,500 | |
| Total income | 166,177 | 30,173 | 196,350 | 203,660 |
| Unrestricted | Restricted | |||||||
|---|---|---|---|---|---|---|---|---|
| 4 | Trust &Foundations | Funds | Funds | 2021 | 2020 | |||
| f | 6 | f | 6 | |||||
| Esmee Fairbairn Foundation |
12,500 | 8,000 | 20,500 | 25,000 | ||||
| John ERerman Foundation | 0 | 0 | 0 | 30,000 | ||||
| The Makin Family Trust | 10,000 | 0 | 10,000 | 0 | ||||
| WNPC Foundation | 6,990 | 0 | 6,990 | 3,755 | ||||
| Total Trust and Foundations | 29,490 | 8,000 | 37,490 | 58,755 | ||||
| The Esmee Fairbairn Foundation |
issued a restricted grant for organisational development. |
|||||||
| Unrestricted | Restricted | |||||||
| 5 | Income from charitable | activities | Funds | Funds | 2021 | 2020 | ||
| f | E | E | f | |||||
| SalesofForward Books |
59,247 | 59,247 | 49,348 | |||||
| Forward Events | 2,408 | 2,408 | 5,257 | |||||
| Educational Resources |
3,160 | 3,160 | 0 | |||||
| NPD Partnershi ps |
11,196 | 2,370 | 13,566 | 24,296 | ||||
| Income from NPD Books | 942 | 942 | 10,716 | |||||
| NPD Events | 25 | 25 | 0 | |||||
| Total Income from charitable | activities | 76,978 | 2,370 | 79,348 | 89,618 |
| Unrestricted | Restricted | |||||
|---|---|---|---|---|---|---|
| 6 | Analysis ofexpenditure | Funds | Funds | 2021 | 2020 | |
| Note | E | E | E | E | ||
| Project Costs | 141,609 | 27,631 | 169,240 | 187,959 | ||
| Fundraising | 28,599 | 4,600 | 33,199 | 18,186 | ||
| Governance costs | 35,798 | 3,900 | 39,698 | 40,205 | ||
| Support costs | 43,814 | 43,814 | 51,755 | |||
| Total ex enditure | 249,820 | 36,131 | 285,951 | 298,105 |
| National | |||||||
|---|---|---|---|---|---|---|---|
| Forward | Prices | Poetry | |||||
| Total | for Poetry | VQPP | Day | ||||
| E | E | E | E | ||||
| Net Funds b/f | 633 | 633 | |||||
| project Costs | (169,240) | (95,340) | (73,900) | ||||
| Governance &Support costs |
(76,445) | (34,899) | (41,546) | ||||
| funded by | |||||||
| - Direct Sponsorship | & Funding | 60,316 | 42,946 | 17,370 | |||
| -Earned Income | 74,089 | 61,980 | 12,109 | ||||
| Shorttblf funded by | Reserves and Unrestricted | ||||||
| Income | 111280 | 25,313 | 85,967 | ||||
| Net Funds Carried Forward | 633 | 0 | 633 | 0 |
| Governance | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Note | Support | Costs | Function | BasisofApportionment | |||||
| E | E | ||||||||
| Subscriptions | and | Donations | 860 | Staf(Time | |||||
| Office & IT Costs | (inc Rent) | 18,586 | StaffTime | ||||||
| StaffCosts | 20,668 | 16,175 | StaffTime | ||||||
| Irrecoverable | VAT | 2,342 | StaffTime | ||||||
| Legal, HR, Banking | ik Insurance | 0 | 8,529 | Governance | |||||
| Hospitality | 143 | 0 | |||||||
| Audit | 0 | 2,500 | Governance | ||||||
| Consultancy | 0 | 0 | Governance | ||||||
| Accountancy | 0 | 10,249 | Governance | ||||||
| StaffTraining | 1,215 | 0 | StaffTime | ||||||
| Trustee and Board | Meetin | Costs(inc. Recruitm | 10 | 0 | 2,245 | Governance | |||
| 43,814 | 39,698 |
| fort | he year ended 31stMarch 2021 | |||
|---|---|---|---|---|
| 9 | Net Income/(expenditure) | forthe year | 2021 | 2020 |
| This isstated after charging: | E | E | ||
| Depreciation | 291 | 291 | ||
| Audit Fees | 2,500 | 4,500 | ||
| Accountancy | 10,249 | 8,487 | ||
| 13,040 | 13,278 | |||
| 0 | Analysis ofstaffcosts. trustee remuneration | and expenses, and the costofkey management | ||
| personnel | ||||
| 2021 | 2020 | |||
| E | E | |||
| Salaries and wages | 89,646 | 86,118 | ||
| Social security costs | 4,836 | 6,041 | ||
| Pension costs | 4,199 | 4,521 | ||
| Trustee expenses | 0 | 249 | ||
| Freelance Project Managers | 24,217 | 37,017 | ||
| 122,898 | 133,946 |
| Tangible Rxed Assets | |
|---|---|
| Computer | |
| Equipment | |
| E | |
| Cost | |
| At1April 2020 | 874 |
| At31March2021 | 874 |
| Depreciation | |
| At 1April 2020 | 461 |
| Charge forthe year | 291 |
| At31March 2021 | 732 |
| Net BookValue | |
| Asat31March 2020 | 423 |
| As at31March 2021 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | E | ||
| Other Debtors | 0 | 5,840 | |
| Other taxation | and social security | 522 | 1,301 |
| Prepayments | and accrued income | 20,220 | 35,393 |
| 20,742 | 42,534 |
| 2021 | 2020 | |
|---|---|---|
| E | E | |
| TradeCredltors | 3,950 | 8,104 |
| Other taxation and social security | 2,358 | 2,549 |
| Other creditors | 3,441 | 535 |
| Accruals and deferred income | 14,205 | 13,284 |
| 23,954 | 24,472 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| E | ||||||
| Accru | ala | and | deferred | income | 5,000 | 5,000 |
| 5,000 | 5,000 |
| Brought | Carried | ||||||
|---|---|---|---|---|---|---|---|
| Current | Year | Forward | Income | Expenditure | Forward | ||
| E | 5 | E | E | ||||
| Unrestricted | funds | ||||||
| 6eneral | Funds | 92,719 | 243,155 | 252,990 | 82,884 | ||
| Restricted | Funds | ||||||
| EsmeeFairbairn | Foundation | 8,000 | 8,000 | ||||
| ALCS | 15,000 | 15,000 | |||||
| VQPP | 633 | 633 | |||||
| Other restricted | funds | 9,543 | 9,543 | ||||
| 93,352 | 275,698 | 285,533 | 83.517 |
| The company | had total commitments | at the balance sinai date off11,080 (2020-f16,426 ) | at the balance sinai date off11,080 (2020-f16,426 ) |
|---|---|---|---|
| 2021 | 2020 | ||
| Rent commitment | |||
| 1year | 11,080 | 16,426 | |
| 2-5 year | |||
| 16,426 |