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||||Page||
|---|---|---|---|---|
|Report of the Trustees||1|to|13|
|Report ofthe Independent
Auditors||14|to|17|
|Statement of Financial Activities|||||
|Balance Sheet|||19||
|Cash Flow Statement|||||
|Notes to the Cash Flow Statement|||21||
|Notes to the Financial Statements||22|to|35|
|Detailed Statement of Financial|Activities|36|to|37|
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||||||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|E||E||
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies||3|15,291||15,291|15,852|
|Charitable
activities||6|||||
|Studios and Buildings|||50,163||50,163|33,355|
|Public Programme|||487,165|32,697|519,862|676,545|
|Other trading
activities||4|12,482||12,462|3,148|
|Investment
income||5|3,099||3,099|1,300|
|Other income|||33,574||33,574|32,048|
|Total|||~601 774|~32 697|~634 471|~762 248|
|EXPENDITURE ON|||||||
|Raising funds||7|44,293||44,293|20,583|
|Charitable
actlvltfes|||||||
|Studios and Buildings
Public Programme|||90,465
~472 715|~85620|90,465
558,335|102,226
636930|
|Total|||607,473|85,620|693,093|759,739|
|NET INCOME(EXPENDITURE)
Transfers
between funds||19|(5,699)
~11098)|(52,923)
~tt 098|(58,622)|2,509|
|Net movement
in funds|||(16,797)|(41,825)|(58,622)|2,509|
|RECONCILIAllON
OF FUNDS|||||||
|Total funds
brought
forward|||360,845|663,795|1,024,640|1,D22,131|
|TOTAL FUNDS CARRIED FORWARD|||~344 048|~621 97D|966,016|1 024 640|
||N|CHAR|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|~B~N|||||||||||
||||||||2023|||2022|
||||Unrestricted||Restricted||Total|||Tots!|
||||funds||funds||funds|||funds|
|||Notes|E||E.||E||||
|F1XEOASSETS|||||||||||
|Tangible assets||16|'I7,824||576,329|.|594,153|||624,696|
|CURRENT ASSETS|||||||||||
|Debtors||17|99.077||||99,077|||55,489|
|Cash al bank|||~297590||45641|~343231||||~394012|
||||396.687|.|45,641||442,308||.|449,501|
|CREDITORS|||||||||||
|Amounts
faBng due wlth1n|one year|18|(70,443)||||(70,443)|||(49,557)|
|NET CURRENT ASSETS|||~326224||~45641||371965|||399944|
|TOTAL ASSETSLESSCURRENT|||||||||||
|LIABILITIES|||344,046||621,970||966,018|||1,024,640|
|||||||||'|||
|NET ASSETS|||~344 048||~621 970|~966 018|||~1024 640||
|FUNDS|||||||||||
|Unrestrknad
funds|||||||344,048|||360,84S|
|Restricted funds||||||~621 970|||~66379S||
|TOTAL FLIMD8||||||~966 018|||~1024 640||
|DR|1 atARCH 2023|1 atARCH 2023|||
|---|---|---|---|---|
|||||2022|
|||Notes|||
|Cash flows from operating|activities||||
|Cash generated
from operations
Tax paid||1|(53,089)
607|9,693
1,105|
|Net cash (used in)/provided|by opetvtdng|acdvfties|~62.482)|~10 798|
|Cash flows from investing|activities||||
|purchase
oftangible
fixed assets
Interest received|||(1,398)
~3099|(12,721)
~!300|
|Net cash provided
by/(used|in) Investing|acdvities|1 701|~11421)|
|Change
in cash and cash
In the repbrting
period
Cash and cash equivalents|equivalents
at the||(50,761)|(623)|
|beglnrdng
ofIhe repordng|psrfod||394012|394,635|
|Cash and cash equlvatsnts
ofIhe repordng
period|at the and|||%~4012|
||RECONCILIATION|OF NET (EXPENDITURE)/INCOINE|OF NET (EXPENDITURE)/INCOINE|OF NET (EXPENDITURE)/INCOINE|TO NET CASH|FLOW FROM|OPERATING|
|---|---|---|---|---|---|---|---|
||ACTIVITIES|||||||
|||||||2023|2022|
||||||||E|
||Net (expenditure)/income||for the reporting|period (as|per the|||
||Statement of Financial Activities)|||||(58,622)|2,509|
||Adjustments
for.|||||||
||Depreciation
charges|||||31,941|33,007|
||Interest received|||||(3,099)|(1,300)|
||Increase
in debtors|||||(44,195)|(34,062)|
||Increase
in creditors|||||~20 886|9539|
||Net cash (used In)/provided||by operations|||~53,089)|~9693|
|2.|ANALYSIS OF CHANGES||IN NET FUNDS|||||
||||||At 1/4/22|Cash flow|At 31/3/23|
||||||E|6|8|
||Net cash|||||||
||Cash at bank||||3~94 012|~50,781)|343,231|
||||||394012|~5D781)|3~43231|
||Total||||394,012|~50,781)|343,231|
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|DONATIONS|AND LEGACIES|AND LEGACIES|AND LEGACIES|||
|---|---|---|---|---|---|
|||||2023|2022|
|||||E|E|
|Donations||||15,291|'l5,852|
|OTHER TRADING ACTIVITIES||||||
|||||2023|2022|
|||||E|E|
|CafU sales||||196|1,792|
|Sales of books and artwork||||12,286|1,356|
|||||12,482|3 148|
|INVESTMENT|INCOME|||||
|||||2023|2022|
|||||E|E|
|Deposit account interest||||3,099|1,300|
|INCOME FROM CHARITABLE ACTIVITIES||||||
|||||2023|2022|
||||Activity||E|
|Provision ofsubsidised||||||
|s'to din space|||Studios and Buikhngs|30,738|26,930|
|Farmhouse
residential||rent|Studios and Buildings|9,890|5,402|
|Space hire|||Studios and Buikhngs|6,477|1,023|
|Other income|||Studios and BuiMings|3,058||
|Grants|||Public Programme|504,175|660,859|
|Curatorial
consultancy|||Public Programme|4,861|1,415|
|Ticket sales|||Public Programme|2,007|6,197|
|Other income|||Public Programme|8,819|8,074|
|||||570025|7~09900|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|||||||K|
|Arts Council England|||||465,173|480,237|
|Henry Moore Foundation||||||1,000|
|Art Fund|||||24,300||
|The Fenton Arts Trust||||||5,000|
|Arts Council England-New||Geographies||||30,000|
|EsmUe Fairbaim
Foundation|||||2,000|20,000|
|DASH||||||15,250|
|British Council Net/Work|Residency|||||3,000|
|South Cambridgeshire
Distnct|||Council|||12,000|
|Job Retention
Scheme Grant||||||133|
|The Ragdoll Foundation||||||11,700|
|British Art Network
Research|||Group||1,885|1,750|
|Arts Council England
—Cultural|||Recovery Fund|||37,568|
|Fluxus Art Projects
Arts Council fngland
—New||Histories||||3,000
40,221|
|University
of Southampton|||||4,512||
|Cambridgeshlre
Community
The World Reimagined||Fund|||5,305
~1000||
||||||504,175|660,859|
|The charity has also benefitted|||from Charitable|Rate Relief.|||
|RAISING FUNDS|||||||
|Raising donations
and|legacies||||||
||||||2023|2022|
|General
marketing
costs|||||34,025|12,022|
|ECVAN Costs|||||2 294|3,600|
||||||36,319|15,622|
|Costs to generate
earned||income|||||
||||||.2023|2022|
||||||6||
|Development
costs|||||7,974|4,961|
|Aggregate
amounts|||||44,293|20,583|
##
|8.|CHARITABLE ACTMTIES COSTS|CHARITABLE ACTMTIES COSTS|CHARITABLE ACTMTIES COSTS|CHARITABLE ACTMTIES COSTS||||
|---|---|---|---|---|---|---|---|
||||||Direct|Support||
||||||Costs (see|costs (see||
||||||note 9)|note 10)|Totals|
||||||E|||
||Studios end|Buildings|||90,465||90,465|
||Public Programme||||55'f,486|6,849|558,335|
||||||6~41 951|~6849|648 800|
||DIRECT COSTS OF||CHARITABLE ACTIVITIES|||||
|||||||2023|2022|
||||||||K|
||Staff costs|||||284,037|259,339|
||Site running|costs||||99,465|97,762|
||Office administration|||||34,578|32,558|
||Space hire|costs||||464|57|
||Other costs|||||6,664|186|
||Programme|costs||||143,717|235,785|
||Training,
recruitment||&|HR||14,668|12,291|
||Trave'I and|motor expenses||||4,567|4,777|
||Freelance costs|||||30,850|55,895|
||Depreciation|||||31,941|33,007|
|||||||641 951|731,677|
|10.|SUPPORT|COSTS||||||
|||||||Governance||
||||||Management||costs|
||||||Totals|||
||Public Programme||||404||~6849|
|11.|NET INCOIIIE/(EXPENDITURE)|||||||
||Net income/(expenditure)|||ls stated after charging/(crediting):||||
|||||||2023|2022|
||||||||E|
||Depreciation|-owned|assets|||31941|~33 008|
##
##
||||2023|2022|
|---|---|---|---|---|
||||6||
|Fees payable|to the charity's|auditors for the audit ofthe charity's|||
|financial statements|||~5280|~4810|
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##
|||2023|2022|
|---|---|---|---|
|||6||
|Wages|and salaries|256,779|235,477|
|Social|security costs|18,585|15,947|
|Other|pension costs|8,673|7,915|
|||284,037|259,339|
##
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##
|During the year the Key Management
Personnel costs were
f174,896.(2022:6145,354).|During the year the Key Management
Personnel costs were
f174,896.(2022:6145,354).|considered
by|the trustees
to|bs|
|---|---|---|---|---|
|COMPARATIVES FOR THE STATEMENT OF RNANCIAL||ACTIVITIES|||
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
||||6|6|
|INCOME AND ENDOWMENTS|FROM||||
|Donations
and legacies||15,852||15,852|
|Charitable
activities|||||
|Studios and Buildings||37,855|(4,500)|33,355|
|Public Programme||493,242|183,303|676,545|
|Other trading
activities||3,148||3,148|
|Investment
Income||1,300||1,300|
|Other income||32,048||32,048|
|Total||583445|178803|762248|
|15.|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL|ACTIV(TIES|-continued||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds
f|funds
f|funds
f|
||EXPENDITURE ON|||||
||Raising funds||12,819|7,764||
||Charitable
activities|||||
||Studios and Buildings||102,226||102,226|
||Pubhc Programme||438,876|~198054|636930|
||Total||553,921|~205 818|~759739|
||NET INCOMEI(EXPENDITURE)
Transfers
between
funds||29,524
~2709)|(27,015)
2 709|2,509|
||Net movement
ln|funds|26,815|(24,306)|2,509|
||RECONCILIATION|OF FUNDS||||
||Total funds brought|forward||688,101|1,022,131|
||TOTAL FUNDS CARRIED FORWARD||360,845|663,795|~1,024 640|
|16.|TANGIBLE FIXED|ASSETS||||
||||||1m prove
men|
|||||Short|to|
||||Leasehold
f|leasehold
f|property
f|
||COST|||||
||At 1 April 2022||1,527,675|60,950||
||Additions|||||
||At 31 March 2023||1,527,875|60,950|44,804|
||DEPRECIATION|||||
||At 1 April 2022
Charge for year||936,848
22 732|49,868
~3048||
||At 31 March 2023||959580|52,916|44,804|
||NET BOOKVALUE|||||
||At 31 March 2023||568,295|8,034||
||At 31 March 2022||591 027|'l1 082||
|||Pssc28|||continued. ..|
##
##
|TANGIBLE FIXEDASSETS - c|ondnued||||
|---|---|---|---|---|
|||Fixtures|||
||Plant and|and|Motor||
||machinery
f|fittings
f|vehicles
f|Totals
f|
|COST|||||
|At 1 April 2022
Additions|92,391
~1398|49,467|5,193|1,780,680
~1398|
|At 31 March 2023|93,789|49,467|5,193|1,782,078|
|DEPRECIAllON|||||
|At 1 April 2022|69,804|49,467|5,193|1,155,984|
|Charge for year|6 161|||31 941|
|At 31 March 2023|75,965|49,467|5,193|1,187,925|
|NET BOOK VALUE|||||
|At 31 March 2023|17,824|||594 153|
|At 31 March 2022|22 587|||624,696|
|17.|DEBTORS:AMOUNTS|DEBTORS:AMOUNTS|FALUNG DUE WITHIN ONE YEAR|||
|---|---|---|---|---|---|
|||||2023
f|2022f|
||Other debtors|||65,520|6,189|
||VAT||||607|
||Prepayments|and accrued income||~33 557|48693|
|||||99077|55,489|
##
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##
|MOVEMEI4T IN F|UN|DS|||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1/4/22
f|In funds
f|funds|31/3/23|
|Unrestricted
funds|||||||
|General fund|||149,845|(5,699)|(11,098)|133,048|
|Capital spend|||30,000|||30,000|
|Equipment
8 ktainlenance|||60,000|||60,000|
|Personnel|||16,000|||16,000|
|Programme
Fund
Website|||75,000
30,000|||75,000
30,000|
||||360,845|(5,699)|(11,098)|344,048|
|Restricted funds|||||||
|Capital
Development||various funders|602,109|(25,780)||576,329|
|Esmee Fairbaim|Foundation||11,318|(20,404)|9,086||
|Ambition
for Excellence-New|||||||
|Geographies|||2,657|(106)||2,551|
|Creative
Council|||23,080|(4,918)||18,162|
|DASH - Education|||248|(248)|||
|British Art Network Research|||1,750|(1,750)|||
|ACE - New Histones|||8,612|(8,484)||128|
|Fenton Arts Trust: Residencies|||5,000|(1,500)||3,500|
|Circuit Routes
Art fund
—Online Commissions|||9,021|(11,033)
~21 300|2,012|21,300|
||||~663795|~52 923)|11,098|621,970|
|TOTAL FUNDS|||1,024,640|~58,622)||966,018|
##
##
|Net movement
In fun|ds,
incfuded
in the above ar|e as follows:||||
|---|---|---|---|---|---|
|||Incommg|Resources||Movement|
|||resources|expended||in funds|
|||6|5||E|
|Unrestrfcted
funds||||||
|General fund||601,774|(607,473)||(5,699)|
|Restricted funds||||||
|Capital Development|various funders||(25,780)||(25,780)|
|Esmee Fairbairn
Foundation|||(20,404)||(20,404)|
|Ambldon
for Excellence-New||||||
|Geographies|||(106)||(106)|
|Creative Council|||(4,918)||(4,918)|
|DASH
—Education|||(248)||(248)|
|British Art Network Research||1,885|(3,635)||(1,750)|
|ACE - New Histories|||(8,484)||(8,484)|
|Fenton Arts Trust: Residencies|||(1,500)||(1,500)|
|Circuit Routes||2,000|(13,033)|'|(11,033)|
|Art fund - Online Commissions
A Language
of Holes||24,300
4,512|(3,000)
~4,512)||21,300|
|||32697|~85 620)||~52,923)|
|TOTAL FUNDS||634471|(~693093)||~58 622)|
##
##
|Comparatlves
fo|r m|ov|ement
In funds|||||
|---|---|---|---|---|---|---|---|
||||||Net|Transfuse||
||||||movement|between|At|
|||||At 1/4/21
6|in funds
E|funds
6|31/3/22
f|
|Unrestricted
funds||||||||
|General
fund||||138,030|29,524|(17.70g)|149,845|
|Capital spend|||||||30,000|
|Equipment
& Maintenance||||60,000|||60,000|
|Personnel||||16,000|||16,000|
|Programme
Fund
Website||||75,000
~15000||~15000|75,000
30,000|
|||||334,030|29,524|(2,709)|360,845|
|Restricted funds||||||||
|Capital
Development||various funders||627,888|(25,779)||602,109|
|Esmee Fairbaim|Foundation|||40,000|(28,682)||11,318|
|Ambition
for Excellence-New||||||||
|Geographies||||(180)|2,838||2,658|
|DASH - Curator
in Residence||||6,347|(6,347)|||
|5Hz Euphoria||||2,836|(2,836)|||
|British Council
Net/Work|||Residency|1,800|(1,800)|||
|DASH - Exhibition||||6,000|(8,304)|||
|D'Oyly Carte Charitable|||Trust|3,410|(3,410)|||
|Creatwe
Council|||||22,675||23,080|
|DASH - Educalion|||||247||247|
|British Art Network Research|||||1,750||1,750|
|ACE —New Histories|||||8,612||8,612|
|Fenton Arts Trust|Residencies||||5,000||5,000|
|Circuit Routes|||||9,021||9,021|
|||||688 101|~27 015)|2 .09|663,795|
|TOTAL FUNDS||||1,022, 131|2,509||1,024,640|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|INCOME AND ENDOWMENTS|||||||
|Donations
and legades|||||||
|Donations|||||15,291|15,852|
|Other trading
activities|||||||
|CafU safes|||||196|1,792|
|Sales of books and|artwork||||12286|1,356|
||||||12,482|3,148|
|Investment
Income|||||||
|Deposit account interest|||||3,099|1,300|
|Charitable
activities|||||||
|Provision of subsidised|||studio space||30,738|26,930|
|Farmhouse
residential||rent|||9,890|5,402|
|Space hire
Grants|||||6,477
504,175|1,023
660,859|
|Curatorial
consultancy|||||4,861|1,415|
|Ticket sales|||||2,007|6,197|
|Other income|||||'I1 877|8,074|
||||||570,025|709,900|
|Other income|||||||
|Exhibition tax credit|||||33574|32,048|
|Total incoming
resources|||||634,471|762,248|
|EXPENDITURE|||||||
|Raising donations|and||legacies||||
|General
marketing|costs||||34,025|12,022|
|ECVAN Costs|||||2,294|3,600|
||||||36,319|15,622|
|Costs to generate|earned|||Income|||
|Development
costs|||||7,974|4,961|
|Charitable
activities|||||||
|Wages|||||256,779|235,477|
|Social security|||||18,585|15,947|
|Pensions|||||8,673|7,915|
|Carried forward|||||284,037|259,339|
||2023||
|---|---|---|
||6||
|Charitable
activities|||
|Brought forward|284,037|259,339|
|Site running
costs|90,465|97,782|
|Office administration|34,578|32,558|
|Space hire costs|464|57|
|Other costs|6,664|186|
|Programme
costs
Training,
recruitment 8 HR|143,717
14,668|235,785
12,291|
|Travel and motor expenses|4,567|4,777|
|Freelance costs|30,850|55,895|
|Depreciation|31 941|33,007|
||641,951|731,677|
|Support costs|||
|Management|||
|AGM and admin costs|404|1,037|
|Governance costs|||
|Auditors'
remuneration|5,280|4,810|
|Professional
fees|1,165|~1632|
||6,445|6,442|
|Total resources expended|693,093|759,739|
|Net (expenditure)/Income|~58,622)|2,509|