|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|12|
|Report ofthe ladependent
Auditors|13|to|16|
|Statement ofFinancial Activities||17||
|Balance Sheet||18||
|Cash Flow Statement||19||
|Notes to the Cash Flow Statement||20||
|Notes to the Financial Statements|21|to|34|
|Detailed Statement ofFinancial Activities|35|to|36|
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|||||2021|2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes|f||||
|INCOME AND ENDOWMENTS FROM||||||
|Donations
and legacies||15,430||15,430|20,045|
|Charitable
activities||||||
|Studios and Buildings||18,947||18,947|37,961|
|Public Programme||525,649|62,700|588&349|827,662|
|Other trading activities||467||467|3,045|
|Investment
income||2,182||2,182|2,937|
|Other income||789||789|25,788|
|Total||563,464|62,700|626,164|917,438|
|EXPENDITURE ON||||||
|Raising funds|7|22,945||22,945|80,722|
|Charitable
activities||||||
|Studios snd Buildings||93,238||93,238|89,157|
|Public
Programme||386,769|129,731|516,500|794,041|
|Total||502,952|129,731|632,683|963,920|
|NET INCOME/(EXPENDITURE)||60,512|(67,031)|(6,519)|(46,482)|
|RECONCILIATION OF FUNDS||||||
|Total funds brought forward||273,518|755,132|1,028,650|1,075,132|
|TOTAL FUNDS CARRIED FORWARD||334,030|688,101|1,022,131|1,028,650|
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes||||f|
|FIXEDASSETS||||||
|Tangible assets|16|17,094|627,889|644,983|671,773|
|CURRENT ASSETS||||||
|Debtors|17|20,908|1,624|22,532|65,541|
|Cash at bank||334,564|60,071|394,635|355,579|
|||355,472|61,695|417,167|421,120|
|CREDITORS||||||
|Amounts
falling due within one year||(38,536)|(1,483)|(40,019)|(64,243)|
|NET CURRENT ASSETS||316,936|60,212|377,148|356,877|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||334,030|688,101|1,022,131|1,028,650|
|NET ASSETS||334,030|688,101|1,022,131|1,028,650|
|FUNDS|19|||||
|Unrestricted
funds||||334,030|273,518|
|Restricted funds||||688,101|755,132|
|TOTAL FUNDS||||1,022,131|1,028,650|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Notes|5||
|Cash flows from operating||activities|||||
|Cash generated
from operations||||I|45451|(33,772)|
|Net cash provided
by/(used||in) operating||activities|45351|(33,772)|
|Cash flows from investing||activities|||||
|Purchase oftangible fixed|assets||||(8,477)|(6,888)|
|Interest received|||||2,182|2,937|
|Net cash used in investing|activities||||(6,295)|(3,951)|
|Change in cash and sash|equivalents||in||||
|the reporting
period|||||39,056|(37,723)|
|Cash and cash equivalents||at the|||||
|beginning
ofthe reporting||period|||355,579|393,302|
|Cash and cash equivalents||at the end|of||||
|the reporting
period|||||394,635|355,579|
##
##
|RECONCILIATION|OFNET EXPENDITURE TO NKT CASH FLOW|OFNET EXPENDITURE TO NKT CASH FLOW|OFNET EXPENDITURE TO NKT CASH FLOW|FROM OPERATING||
|---|---|---|---|---|---|
|ACTIVITIES||||||
|||||2021|2020|
|Net expenditure
for the reporting|||period (as per the Statement of|||
|Financial Activities)||||(6,519)|(46,482)|
|Adjustments
for:||||||
|Depreciation
charges||||35,267|35,591|
|Interest received||||(2,182)|(2,937)|
|Decrease/(increase)
in|debtors|||43,009|(17,191)|
|Decrease in creditors||||(24,224)|(2,753)|
|Net cash provided
by/(used||in) operations||45351|(33,772)|
##
||At I/4/20|Cash flow|At 31/3/21|
|---|---|---|---|
|||f||
|Net cash||||
|Cash at bank|355,579|39,056|394,635|
||355,579|39,056|394,635|
|Total|355,579|39,056|394,635|
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|3.|DONATIONS|DONATIONS|AND|LEGACIES|LEGACIES|||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||Donations|||||15,430|20,045|
|4.|OTHER TRADING|||ACTIVITIES||||
|||||||2021|2020|
|||||||0||
||Cafe sales||||||99|
||Sales ofbooks||and artwork|||467|2,946|
|||||||467|3,045|
|5.|INVESTMENT INCOME|||||||
|||||||2021|2020|
||Deposit account interest|||||2,182|2,937|
||INCOME|FROM CHARITABLE ACTIVITIES||||||
|||||||2021|2020|
||||||Activity|f|f|
||Provision ofsubsidised|||studio||||
||space||||Studios and Buildings|15,714|28,888|
||Farmhouse|residential||rent|Studios and Buildings|2,387|5,124|
||Space hire||||Studios and Buildings|846|3,949|
||Space hire||||Public Programme||571|
||Grants||||Public Programme|584,872|789,554|
||Project fees||||Public Programme||25,165|
||Duatorial consultancy||||Public Programme|1,110|792|
||Ticket sales||||Public Programme|1,896|7,004|
||Other income||||Public Programme|471|4,576|
|||||||607,296|865,623|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|Arts Council England|||||465,173|456,768|
|Henry Moore Foundation|||||4,000||
|The Elephant Trust|||||2,000||
|Arts Council England|- Catalyst Evolve|||||25,552|
|Arts Council England-New|||Geographies|||210,000|
|Esmee Fairbaim Foundation|||||61,250|42,500|
|Art Fund|||||11,000|9,700|
|Arts Council England|- Interim Director|||||1,000|
|DASH||||||15,000|
|5Hz Euphoria||||||15,217|
|British Council Net/Work|||Residency||3,000|3,000|
|Small grants||||||917|
|National
Trust||||||9,900|
|D'Oyly Carte Charitable||Trust|||3,700||
|South Cambridgeshire|District Council||||25,000||
|Job Retention
Scheme|Grant||||9,749||
||||||584,872|789,554|
|The charity has also benefitted
from Charitable||||Rate Relief.|||
|RAISING FUNDS|||||||
|Raising donations
and legacies|||||||
||||||2021|2020|
||||||f,|f|
|Staffcosts|||||9,953|45,684|
|General marketing
costs|||||6,067|24,426|
||||||16,020|70,110|
|Costs to generate earned|||income||||
||||||2021|2020|
|Staffcosts|||||4,976|5,798|
|Bad debts|||||933||
|Development
costs|||||1,016|4,814|
||||||6,925|10,612|
|Aggregate
amounts|||||22,945|80,722|
##
##
|8.|CHARITABLE ACTIV|ITIES COSTS|||||
|---|---|---|---|---|---|---|
||||Direct||Support||
||||Costs|(see|costs (see||
||||note
f|9)|note 10)
f|Totals
f|
||Studios and Buildings||93,238|||93338|
||Public Programme||508,511||7,989|516,500|
||||601,749||7,989|609,738|
|9.|DIRECT COSTS OFCHARITABLE ACTIVITIES||||||
||||||2021f|2020|
||Staffcosts||||242,133|219,982|
||Site running
costs||||86,258|81,668|
||Office administration||||30,464|33,249|
||Space hire costs||||3|1,188|
||Other costs||||368|991|
||Programme
costs
Training,
recruitment 4 HR||||136,000
4,759|441,999
5,493|
||Travel and motor expenses||||3,574|4,732|
||Freelance costs||||62,924|50,852|
||Depreciation||||35,266|35,592|
||||||601,749|875,746|
|10.|SUPPORT COSTS||||||
||||||Governance||
||||Management||costs|Totals|
||||f||f||
||Public Programme|||67|7,922|7,989|
|11.|NET INCOME/(EXPENDITURE)||||||
||Net income/(expenditure)|is stated after charging/(crediting):|||||
||||||2021|2020|
|||||||f|
||Depreciation
- owned assets||||35,267|35,591|
##
##
##
|During
the year three|trustees|were paid travel expenses|were paid travel expenses|totalling f665 (2020: four Trustees|were paid a total|of|
|---|---|---|---|---|---|---|
|6L430 in travel expenses).|||||||
|STAFFCOSTS|||||||
|||||2021|2020||
|Wages and salaries||||232,307|244,172||
|Social security costs||||16461|18,986||
|Other pension costs||||8394|8,306||
|||||257,062|271,464||
|The average monthly|number|ofemployees|during the year was as follows:||||
|||||2021|2020||
|Direct charitable||||8|9||
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|INCOr3EE|AND ENDOWMENTS FROM||||
|Donations|and legacies|20,045||20,045|
|Charitable|activities||||
|Studios and Buildings||37,961||37,961|
|Public Programme||500,606|327,056|827,662|
|Other trading activities||3,045||3,045|
|Investment|income|2,937||2,937|
|Other income||25,788||25,788|
|Total||590,382|327,056|917,438|
##
|15.|COMPARATIVES|FOR THE STATEMENT OFFINANCIAL ACTIVITIES -continued|FOR THE STATEMENT OFFINANCIAL ACTIVITIES -continued|FOR THE STATEMENT OFFINANCIAL ACTIVITIES -continued|FOR THE STATEMENT OFFINANCIAL ACTIVITIES -continued||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||6|||
||EXPENDITURE ON||||||
||Raising funds|||80,722||80,722|
||Charitable
activities||||||
||Studios and Buildings|||89,157||89,157|
||Public Programme|||412,171|381,870|794,041|
||Total|||582,050|381,870|963,920|
||NET INCOME/(EXPENDITURE)|||8,332|(54,814)|(46,482)|
||Transfers between|funds||(7,859)|7,859||
||Net movement
in funds|||473|(46,955)|(46,482)|
||RECONCILIATION||OFFUNDS||||
||Total funds brought||forward|273,045|802,087|1,075,132|
||TOTAL FUNDS CARRIED FORWARD|||273,518|755,132|1,028,650|
|16.|TANGIBLE FIXED||ASSETS||||
|||||||Improvement|
||||||Short|to|
|||||Leasehold|leasehold
f|property|
||COST||||||
||At 1 April 2020|||1,527,875|60,950|44,804|
||Additions||||||
||At 31March 2021|||1,527,875|60,950|44,804|
||DEPRECIATION||||||
||At 1 April 2020|||891,383|43,773|38,027|
||Charge for'year|||22733|3,047|4,252|
||At 31March 2021|||914,116|46,820|42,279|
||NET BOOK VALUE||||||
||At 31March 2021|||613,759|14,130|2,525|
||At 31March 2020|||636,492|17,177|6,777|
##
|||Fixtures|||
|---|---|---|---|---|
||Plant and|and|Motor||
||machinery
f|fittings
f|velucles|Totals|
|COST|||||
|At I April 2020|71,193|49,467|5,193|1,759,482|
|Additions|8,477|||8,477|
|At 31 March 2021|79,670|49,467|5,193|1,767,959|
|DEPRECIATION|||||
|At I April 2020|59,866|49,467|5,193|1,087,709|
|Charge for year|5,235|||35,267|
|At 31March 2021|65,101|49,467|5,193|1,122,976|
|NET BOOK VALUE|||||
|At 31 March 2021|14,569|||644,983|
|At 31 March 2020|11,327|||671,773|
##
##
|DEBTORSi|AMOUNTS FALLING DUE WITHIN ONE|YEAR||
|---|---|---|---|
|||2021|2020|
|Other debtors||384|47,809|
|VAT||1,712|2,232|
|Prepayments|and accrued income|20,436|15,500|
|||22,532|65,541|
##
##
##
||2021|2020|
|---|---|---|
|Trade creditors|23,448|55,460|
|Other creditors|3,814|3,794|
|Accruals and deferred income|12,757|4,989|
||40,019|64,243|
##
##
||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between|At|
|||||At I/4/20|in funds|fundsI|31/3/21|
|Unrestricted
funds||||||||
|General fund||||92,518|60,512|(15,000)|138,030|
|Capital spend||||30&000|||30,000|
|Equipment &Maintenance||||60,000|||60,000|
|Personnel||||16,000|||16,000|
|Programme
Fund||||75,000|||75,000|
|Website||||||15,000|15,000|
|||||273,518|60,512||334,030|
|Restricted funds||||||||
|Capital Development
various|||funders|653,668|(25,779)||627,889|
|Arts Council England - Catalyst Evolve||||878|(878)|||
|Esmee Fairbairn Foundation||||21,910|18,090||40,000|
|Ambition
for Excellence-New|||Geographies|60,225|(60,406)||(181)|
|Amey Community|Fund|||890|(890)|||
|DASH - Curator in|Residence|||13,953|(7,606)||6,347|
|5Hz Euphoria||||2,836|||2,836|
|British Council Net/Work||Residency||1,600|200||1,800|
|Art Fund - Helen Cammock Exhibition||||(828)|828|||
|DASH —Exhibition|||||6,000||6,000|
|D'Oyly Carte Charitable||Trust|||3,410||3,410|
|||||755,132|(67,031)||688,101|
|TOTAL FUNDS||||1,028,650|(6,519)||1&022,131|
##
|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources
f|expended
f|in funds
f|
|Unrestricted
funds|||||
|General fund||563,464|(502,952)|60,512|
|Restricted funds|||||
|Capital Development
various|funders||(25,779)|(25,779)|
|Art Fund
—Curator in Residence||10,000|(10,000)||
|Arts Council England - Catalyst Evolve|||(878)|(878)|
|Esmee Fairbaim
Foundation||40,000|(21,910)|18,090|
|Ambition
for Excellence-New|Geographies||(60,406)|(60,406)|
|Amey Community
Fund|||(890)|(890)|
|DASH - Curator in Residence|||(7,606)|(7,606)|
|British Council Net/Work
Residency||2,000|(1,800)|200|
|Art Fund - Helen Cammock Exhibition||1,000|(172)|828|
|DASH - Exhibition||6,000||6,000|
|D'Oyly Carte Charitable
Trust||3,700|(290)|3,410|
|||62,700|(129,731)|(67,031)|
|TOTAL FUNDS||626,164|(632,683)|(6,519)|
##
##
##
|||||||Net|Transfers||
|---|---|---|---|---|---|---|---|---|
|||||||movement|between|At|
||||||At 1/4/19|in funds|funds|31/3/20|
||||||8||f|f|
|Unrestricted
funds|||||||||
|General fund|||||92,045|38,638|(38,165)|92,518|
|Capital spend|||||30,000|(17,403)|17,403|30,000|
|Equipment &Maintenance|||||60,000|(1,584)|1,584|60,000|
|Personnel|||||16,000|(11,319)|11,319|16,000|
|Programme
Fund|||||75,000|||75,000|
||||||273,045|8,332|(7,859)|273,518|
|Restricted funds|||||||||
|Capital Development||venous||funders|679,447|(25,778)||653,669|
|Art Fund - Curator|in|Residence|||4,286|(6,745)|2,459||
|Arts Council England||—Catalyst Evolve|||19,085|(18,207)||878|
|Esmee Fairbairn Foundation|||||20,649|1,261||21,910|
|Ambition
for Excellence-New||||Geographies|75,973|(21,148)|5,400|60,225|
|Amey Community|Fund||||1,780|(890)||890|
|Ken(e's Yard - Tate|Artist||Rooms||867|(867)|||
|DASH - Curator in|Residence|||||13,953||13,953|
|5Hz Euphoria||||||2,836||2,836|
|British Council Net/Work|||Residency|||1,600||1,600|
|Art Fund - Helen Cammock Exhibition||||||(829)||(829)|
||||||802,087|(54,814)|7,859|755,132|
|TOTAL FUNDS|||||1,075,132|(46,482)||1,028,650|
##
##
##
|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources
f|expended
f|in funds
f|
|Unrestricted
funds|||||||
|General fund||||590,382|(551,744)|38,638|
|Capital spend|||||(17,403 )|(17,403)|
|Equipment
&Maintenance|||||(1,584)|(1,584)|
|Personnel|||||(11,319)|(11,319)|
|||||590,382|(582,050)|8,332|
|Restricted funds|||||||
|Capital Development
various funders|||||(25,778)|(25,778)|
|Art Fund - Curator|in Residence|||700|(7,445)|(6,745)|
|Arts Council England - Catalyst Evolve|||||(18,207)|(18,207)|
|Esmee Fairbairn Foundation||||44,073|(42,812)|1,261|
|Ambition
for Excellence-New|||Geographies|240,050|(261,198)|(21,148)|
|Amey Community|Fund||||(890)|(890)|
|Kettle's Yard - Tate|Artist|Rooms|||(867)|(867)|
|DASH - Curator in|Residence|||15,000|(1,047)|13,953|
|5Hz Euphoria||||15,217|(12,381)|2,836|
|British Council Net/Work||Residency||3,000|(1,400)|1,600|
|Art Fund
—Helen Cammock Exhibition||||9,016|(9,845)|(829)|
|||||327,056|(381,870)|(54,814)|
|TOTAL FUNDS||||917,438|(963,920)|(46,482)|
|Purposes ofRestricted Funds|||||||
##
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##
|||||2021|2020|
|---|---|---|---|---|---|
|INCOME AND ENDOWMENTS||||||
|Donations
and legacies||||||
|Donations||||15,430|20,045|
|Other trading activities||||||
|Cafe sales|||||99|
|Sales ofbooks and|artwork|||467|2,946|
|||||467|3,045|
|Investment
iacome||||||
|Deposit account interest||||2,182|2,937|
|Charitable
activities||||||
|Provision ofsubsidised|||studio space|15,714|28,888|
|Farmhouse
residential||rent||2,387|5,124|
|Space hire||||846|4,520|
|Grants||||584,872|789,554|
|Project fees|||||25,165|
|Curatorial
consultancy||||1,110|792|
|Ticket sales||||1,896|7,004|
|Other income||||471|4,576|
|||||607896|865,623|
|Other iacome||||||
|Exhibition
tax credit||||789|25,788|
|Total incoming resources||||626,164|917,438|
|EXPENDITURE||||||
|Raising donations|and||legacies|||
|Wages||||9,953|45,684|
|General marketing|costs|||6,067|24,426|
|||||160020|70,110|
|Costs to geaerate|earned income|||||
|Wages||||4,976|5,798|
|Bad debts||||933||
|Development
costs||||1,016|4,814|
|||||6,925|10,612|
##
##
|||2021|2020|
|---|---|---|---|
|||f||
|Costs to generate earned income||||
|Charitable
activities||||
|Wages||217878|192,690|
|Social secuuty||16,361|18,986|
|Pensions||8494|8,306|
|Site running
costs||86,258|81,668|
|Office administration||30&464|33,249|
|Space hire costs||3|1,188|
|Other costs||368|991|
|Programme
costs||136&000|441,999|
|Training,
recruitment|&HR|4,759|5,493|
|Travel and motor expenses||3,574|4,732|
|Freelance costs||62,924|50,852|
|Depreciation||35,266|35,592|
|||601,749|875,746|
|Support costs||||
|Management||||
|Trustees' expenses||67|879|
|Governance
costs||||
|Auditors'
remuneration||4,640|4,320|
|Professional
fees||3,282|2,253|
|||7,922|6,573|
|Total resources expended||632,683|963,920|
|Net expenditure||(6,519)|(46,482)|