REGISTERED COMPANY NUMBER: 02942151 (England and Wales) REGISTERED CHARITY NUMBER: 1039555 REPORT OF THE TRUSTEES AND . AUDITED FINANCIAL STATEMENTS R THE YEAR ENDED 31. MARCH 20 FOR WYSING ARTS CHARITY Staffords Chartered Accounlanls & Statutory Audiiors Unit l. Cambridge House Camboro Business Park Oakinglon Road, Girton. CAMBRIDGE Cambridgeshi CB3 OQH ADE2Ni4UY 1911012024 COMPANIES HOUSE A19
WYSING ARTS CHARITY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees 1. to 14 Report of the Independent Auditors 15 to 18 Statement of Financial AGtivities 19 Balance Sheel 20 Cash Flow Statement 21 Notes to the Cash Flow Statement 22 Note$ to the Flnanclal Statements 23 to 36
WYSING ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees who are also directors of the charity for the purposes of the Companies Act 200.6, present thelr reporl wilh the financial statemenls of the charity for the year ended 31 March 2024. The Trustees have adopted the provisions of 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) (effective 1 January 2019). 'Wysing was founded with a utopian vision lo treate space for 8rtist5 to live & work. Today it is.... pioneering an experimental approach to artistic practice, learning & curating.. Louise Benson, Elephant Magazine. Wysing Arts Centre is a progressive organisation in a rural setting that was established In 1989. We enable artist5 and publics to engage their imagination freely and lake creative risks., we believe that everybody has the right to time and space for creativity, away from the distractions of daily life. The srte is ten miles from Cambridge city. It holds 20 subsidised studios, accommodation for up to 80 visltlng artists annually, recording and ceramics studios, flexible space to experiment, present and learn. fields, woodland, and several outdoor outsvorks. Work made at Wysing is seen worldwide. An acce55ible digital offer increases reach and archive5 our work., our youth programrne empowers future generations. Wyslng invltes artists from acros5 the world lo stay and reflect on their practice without the pressure of producing new work.. time spent wilhoul a plan can often be when the best new ideas emerge. We take proactive, intersectional approach to equity and inclusion. and often support artists who have not been well supported by mainstream gallery and funding systems. Several artists vtho have spent lime al Wysing have gone on lo be Tumer-prize or Paul Hamlyn Award winners. Some artists go on to be commlssioned by Wysing to creale new work, presented on site and in places where broad publics will enjoy it: many participate in Wysing's lively events programme. Wysing engages people of all ages Ihrough art15t-led workshops, events. onllne projects. gatherlngs and an alternative art school called The Syllabus. Our youth-led learning programme focuses on providing creative opportunity, confidence and empowerment for rurally isolated young people. our Creative Youlh Council holds decision-maklng powers in our organisation. We are funded principally by Arts Council England through Ils National Portfolio scheme. Further funds are raised through Trusts. Foundations, individual giving and commercial activity. In 2023, Wysing prepared for a site-wide capital project focused on environmental su5tainabilily and accessibility that vnuld see our grounds and key areas of our site for purwse, increase Ihe financial stsbility of our organisation, and better malch our mission, vision and values. We are active in Plus Tate., we lead the Eastem branch of the Contemporary Visual ,Arts Network. and our Director is a ctrlead of Create Cambridge cullural compact. Our impactful local. national and inlemational collaborative partnerships wilh cultural, educational and social organisations are core. They are built to share resources and knowledge in our sector, widening our reach and deepening our leaming. Page
WYSING ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Vlslon, Mlsslon, Alms and Objectlves VISION: to cultivate the freewheeling imagination. MISSION: Wysing believes in the Iransformative social and personal benefits of art and creativity, and that a more lust world can only be achieved if everyone has equal access to the lime and space needed to imagine it. Wysing provides accessible opportunities and resources to think and create. outside Ihe habits of daily life. We support artists to develop their tslent: we advocate for the immense value they have in the world, and we work to create the conditions necessary for them to have sustainable careers. AIMS and OBJECTIVES: Collaborallve: Generous: Aglle". Attentive: Transparent: Ethical: Work logether-to build resources Model change. sharing our resources equitably Create and Seize opportunity Listen to what people say, and respond effectively Build trusl, and be open about how we work Avoid causing hard to people and the planet Our Dlreclor and Depuly Dlrector are supported by Trustees bvho hold expertise in key areas of our work,. and a newly appointed Chair. Laura Wright (CEO, Postal Museum, former CEO, Tate Enterprises) who joined our Director in September 2023. Our work is reviewed quarterly at Board meetings, together with a range of policies and Wysing's risk register. Board sub-committee meetings, including finance and site groups, are held when necessary throughout the year. Qualilatlve and quantitatlve evaluation frameworks to help us learn and develop, and to meet targets on equality, .diversity and inclusion. We gather data from visitor surveys and verbally, as well as from social media and press. We leam and deepen the value of our artist support programmes through formal evaluation assessed by staff,. we adapt in response. Thls information is shared with the team at staff meetings and, reported lo Trustees. Our team receives training throughout the year, focusing on key areas that reflect our work - these include safeguarding, disability awareness, autism awareness, mental health first aid and first aid training. Trustee Statement on Public Benefit 11 is the Trustees, intention to ensure that Wysin9 continues to play a unique role in providing high quality facililies and access to Innovalive programmes of contemporary art for the benefit of artists and for wider . society. Wysing provides Studio accommodation (WIre there is a significant noted shortage of sludio provision in Cambridgeshire, especially provision that is affordable). is one of a few rural venues in the UK. that offer funded residency opportunities, as well as fundlng new work to be created and shown at our srte or. partner venues. It is a priority for the Trustees to continue to further the diversity. accessibility, reach and impact of our work.. In considering the public benefit of the charity the Trustees have had regard'to the Charity Commission's guidance on Public Benefit. Page 2
WYSING ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Signlficanl Charllable Activities Resldencl Artistic residencies are core lo our work. We provide national and international artists at key moments in their careers with a bursary. workspace, accommodation, ongoing crilical and practical support. We continue to support artists after they have completed residencies by offering ongoing critical guidance where requested, and the opportunity lo retum to Wysing to stay for short perlods to continue developing their practice. We continue to offer a flexible residency model that allows artisls to detemiine the length of their stay, recognising that some artist5 may nol be able to spend blocks of time at Wysing (e.g. Garing responsibilltles, health conditions. jobs). We have a designated Access Budget that enables us to support artists who need additional resources to participate meaningfully. In 2023 we introduced a new initiative.. an annually rotating artist advisory group to help us reach and give opportunity to artists outside of our networks. The 2023 committee were.. Akil Scafe-smith {RESOLVE Collective>, Uma Breakdown, Cèdrlc Fauq and Tam Reynolds. Residency artists for 20234 were.. Intoart (UK), Elize Charcosset {France) In partnership with CAPAC Bordeaux as part of FLUXUS Magnelic programme, Rudy Loewe (UK), Fiona MacDonald (UKI, Wet Mess (UK), Bella Milroy (UK). Joe Namy (UK l Lebanon), Daniel Odunlan (UK), Sean Roy Parker (UK), Belladonna Paloma (UK), Diana Puntar (UK I US). Charwei Tsai {Taiwanl in partnership with Kettle5' Yard anrj the Paul Mellon Centre for British Art, Jose Funn811 {UK) in collaboratlon with ICA, London, and Murphy Yum (Korea I France) supported by Knotenpunkt. Follolwng a rigorous nomination and selection process, we announced Appau Jnr Yiadom-Boakye (UK) as the firsl recipient of the Donna Lynas Residency Award (in partnership with South London Gallery, Modem Art Oxford and Somerset House Studios) which will provide an artist a 'no strings, grant of £16,000 over three years (2023-6) and the combined resources of each organisation. We contlnijed lo support online resldencies In partnership with Vital Capacities, whlch offers crltlcal support 'and networking for disabled artists., in August 2023 we supported Belladonna Paloma to develop skills and networks as part of a four-week digital residency programme, wilh an online presentation at the end. "8eing at Wysing gave me a spaciousness - in that I had space lo make and space to think. I havenl had that luxury for a while So il wasn't just a residency for me.. it was a retreat. Every day I would kind of meditate on the meaning of this project - what I was doing with the ceramics. It was Ireedom just to have that space as a resource." Residency artist feedback Events We presented six Iteralions of Wysing's sell-out performance and music night for LG8TQl+ audiences Clu rania in partnership wilh Cambridge Junction and queer organisers in the City. Club Urania is a LG8TQI+ inclusive space featuring live 'work-in-progress' performance and open mic slots for locally based p.erformers lo try new works, followed by music and dancing. The event takes an integrated approach to accessibility, offering captioned performances and livestreaming for remote audience5. In 2023-4 we supported six artists to try out new works in front of Club Urania audiences, including Peyvand Sadeghian, Jose Funnell'and Katy Baird. We also presented an outdoor event as part of Cambridge Pride, Summer 2023. ueer Uto Wysing Arts Cenlre's festival of queer culture due to lake place in September 2023 had to be cancelled due to a train strike: it was rescheduled lo take place in May 2024. On 12 April 2023, On Da I Will Feel M Power took place - an event held by the ICA and livestreamed by Wysing Arts Centre, as part of a multi-site celebration of Ihe life and work of artist Lizzy Rose {198&2022), which featured contributions from artists including Leah Clements. RA Walden and Benddict Drew who explored themes of chronic illnes5, neurodivergence and disability. Page 3
WYSING ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 In On 22 July 2023, LLen took place.- a new model for Open Studios that combined presentations by studio artists with a weekend-long exhibition of work-in-progress by residency artists Ruth Angel Edwards and Chloéè Maguile. and by Murphy Yum, a drop-in workshop by Wysing's Creative Youth Council with artist Alexi Marshall, and performances by studio artisls Rob Fosler-Jones and Penny Klein. as well as from Club Urania 'regulars' including A2ara and Cambridge-based singer. Lovemore. In Oecember 2023, we organised a seminar in partnership with Leicester University Museum Studies. lilled Be ond Landsca ur tin Art in Rural Places that looked at the conditions of rural arts centres and artists from the perspective of audience5 and artists, and what the benefil would be of forming a UK-wide network. .On 9 February 2024. we worked in partnership with Kettle's Yard and Ihe Paul Mellon Centre for British Art to present S ace l Time l Life., A Gatherin a day-long programme ol talks, workshops, performance and food to coincide with Kettle's Yard's exhibition Makin New Worl Li Yuan Chia and Friends. The day included talks. workshops and performances from Bella Milroy, Charwei Tsai, Ama Josephine Budge, Aaron Tan, the Field. Sean Roy Parker, Rafal Zajko, Rosemary Shirley, Ana Brownsted and more. On 27 March 2024. we organised S rin Celebration.. the launch of Wysing's 202&k5 residency programme and a look back on key works from residency artists from the year before. This included a lalk wilh Rudy Loewe and Feral Practice (Flona MacDonald) moderated by El Morgan, and a screening of Feral Practice's work-in-progress in Wysing's project space. There was also a supporters, lunch. ntred around a congee meal cooked by 2024-5 residency artist Alislair Kwan. Wysing offers an Integrated approach to digital and in-person events, live streaming where possible to ensure that 'those who cannot attend person can attend digitally. We work with live caplioners to ensure accurate subtitling, Exhlbltlons & Commls ions In 2022, the Trustees supported the decision to use Wysing's gallery as. a project space for residency and studio artists to rehearse and experiment.. thls scale of space is rarely available for artists, and significant works have been produced there as a result. Since. then. a significant re-think of whal exhibition5 mean for Wysing has also taken place. Commissioned artworks are now exhibiled in places with greater reach: around Wysing's grounds, and off-site. 2023 saw the continuation of Wyslng's New Block Commission, an exhibition of a new commission on Wysing's road-facing studio block, seen by over 1,000 passers by, daily. Carol Sorhaindo's The Golden QLwn, which explored memory, reflection, time. fragmentation and the history of colonial power in the Cambridgeshire region and beyond, through the molif of a pineapple. launched in June 2023; Rafal Zajko's hugely impaciful commission Corn and Callus was launched on 9 February 2024 and will run until Septemb8r 2024. In Seplember 2023, a significant project by artist Rafal Zajko which unfolded inside and outside St Peter's School, Huntingdon. It wa5 inspired Rafal Zajko's year-long collaboration with over 270 year 7 students (11-12yrs> in weekly sessions that ran Ihroughout the 2022-3 school year. During these sessions, Rafal invited students to think wildly about the future of farming and lechnology, using drawing and artificial intelligence image-generation software. The result was a major public art commission - the artist's first - on the front of the school, seen daily by Ihe school community and thousands of people passing the busy road, paired with an exhibition of smaller works that unfolded throughout the school's interior, seen by the community and regular visitors. The project had a huge impact on all involved. with Zajko commenting- 'Probably the most meaningful elemenl from this context was coming out of the art world l institutional bubble and open my practice to an age group I demographic that perhaps haven't any access to contemporary art practices. I was chuffed to be selected by the students - this meant a lot as it was based on their response to me and my praclice. I learned how to open my practice up - and by sharing my knowledge and ideas I received a lot of myself.. Since Ihe commission, Zajko has had several more public engagement commissions - a new area of practice for the artist. Dawn Glover. Head of Creative Enterprise Faculty, commented:
wysi G ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 'The opportunity to work with an artist over a long period of time has been invaluable, such opportunities on this scale rarely happen within arts education. Knowing we have given our students the chance to meet, engage and collaborate with an artist such as Rafal Zajko Is incredlbly special. In the fonnal classroom setting creative outcomes often compele with other eclucational activities, 50 to be able lo create in this way was invaluable. The sustained nature of the project created a positive atmosphere amongst the students, as each new group of students joined, they sh'ared their understanding and thoughts from their peers and the resulting sculptural outcomes are a source of great delight seen by staff, students, parentslcarers and visitors on a daily basis. Temporary 8xhibitions took place at Wysing as part of Wysing's events Wysing Open and Spring elebration. During Wyslng Open. Ruth Angel Edwards and Chloée Maguile presented thelr work-in-progress screening., during Spring Celebration in March, artist Feral Practice also had the opportunity to exhibit work-in-progress on a large scale in tho project space. Both Wre an invaluable chance for artisls to test audience responses and showcase their work to new vievr8, which could then inform how ' the work progressed: Works created at Wysing often go elsewhere.. May.. Wet Mess's show T Q premiered at Cambridge Junction, co-cornmissioned as part of their OISRUPT festival of perfomance-based art. Delaine Le Bas's exhibitlon In it Vita Nova.. Here Be insaN wLif opened at Secce55ion, Vienna. Austria, having been made on site in Wysing's project space in March 2023. Eve Stalnton's Im premiered at ICA London and travelled to Take . Me Somewhere, Tramway, Glasgow, having been produced on residency at Wysing in 2022-3. Uma Breakdown's E rth AD opened at FACT, Liverpool, on tour from Wysing Arts Centre wherè the exhibition closed in December 2022. Ruth Angel Edwards and Chloée Maguile's H ero was presented at PRIMARY, Nottingham. having been made and then presented at Wy5ing Arts Centre in 2023. Jose Funnell's produced at Wysing Arts Centre in 2023, premiered at ICA London. New Worlds.. and Friends opens at Kettle5 Yard. Cambridge, featuring new work by Char4¥ei Tsai made on residency at Wysing in 2023. Murphy Yum's exhibilion Dear A the Sauva having been produced at Wysing in 2023. Issam K urba '. ent Archive opened at Kettles Yard. Cambridge, featuring new work by Issam Kourbaj created in Wysing's ceramics studio, with production supported by Studio artlst Lawrence Epps. June: September: October: October. November: November.. ' December.. e opened in Seoul, Korea, March: Sin Studio Artlsts Wysing studio artist tenants conlinue lo be supported through portfolio reviews and mentorlng sessions, as well as presenting their work as part of Wysing's annual public Wysing Open, centred around artist studio presentations. Studio artists are also eligible to apply for a Test Space. professional development grant= in 2023-4 this was awarded to Lawrence Epps to develop the sound aspect of his practice, and Penny Klein, who used the grant to travel and undertake a professional development course. Wysing also employs studio artisls where their skills and experience matches opportunity. Following a further review of studio artist leases, Ihe Director. Deputy Director and Twstees agreed to studio artist5. request to undertake a further view of lease provision al Wysing Arts Cenlre. Facilitator Rivca Rubin was appointed, and tseeen Autumn 2023 and. concluding in June 2024, a temporary Studio Artist Steering Group was iniliated. comprising studio artist representatives. members of Wysing's team, and Trustees. with one meeting including external stakeholders, including locally based artists and studio providers. The group met monthly to discuss Ideas, areas of concern and development around the provision of artist studios at Wysing Arts Centre, with a spectfic focus on lease structures. A reserves request of £5.000 was granted by Trustees to undertake this Vrk - the funds covered facilitalor fees, and artist fee5 for participation.
WYSING ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 202 In late 2023, a new phase of Syllabus - Wysing's artist-led learning programme- began. A part-time Syllabus Coordinator {Nalasha Ruwona) wa5 appointed, together with an artist advisor, in post for a year (Uma Breakdown), one guest partner - TACO! Prq'ects, London, and two new permanent partners New Art Exchange, Nottingham. and Ps2, Belfast. They join Spike Island, Eastside Projects, Studio Voltaire and Wysing Arts Centre as projed partners. Artist recruilment began and the new cohort of 10 artists begins working together in June 2024. Youn Peo Wysing's young people's programme is cenlred around two key areas.. Creative Youth Council, and Schools. In 2023, we received a significant grant from the John Armitage Charitable Twst, and continued support from the Ragdoll Foundation. Wysing's Creative Youth Council is for young people aged 14-18 with additional support needs l at risk of isolation (especially rural}. 22 young people engaged across 2023-4. They met 11 times in 20234, for four hour Sessions each month, lo collaborate and experiment with artists,. meet new friends in a safe and supportive Spa,. to get involved in a variety of arts opportunities, including programming events. festivals, resources, and their own artwork., build teamwork and leadership skills whlch can then be used to support college, university and l or job applications,. and to programme events including annual Creative Youth Festival, which in October 2023 attracted. 76 young people. Across 20234, we increased our work with Youth-engaged service providers to grow attendance (the Darwin Centre, Kite Trust, 20Twenly Productlons) with an emphasis on young people with additional support needsl at risk of isolation. Young people receive bursary and subsidised transport to attend. In March 2024, they undertook sessions with artist Oylan Fox to re-imagine the visual identity of CYC. Thank you for giving young people a non-judgmental, free and underslanding crealive space and communityl Where youth are accepted as thelr authentic selve5.' CYC member Additional activity included mentoring for a member of the Creative Youth Council who is ai the upper age of CYC support and wants lo explore a creative career. Wysing has commissioned them lo make a Yoraging map, of Wysing's grounds, for the public. This has included a commission fee and rnentoring from two artists at different stages of the commission. We ran five'creative sessions developed in collaboration with Cambridgeshire Sensory Support Team, who support mulli-sensorially impaired (MSI includes dlDeaf, visually impaired and often also neurodivergent) young people across schools in Cambridgeshire - where they may be the only MSI child in their school. Crealive sessions for nine young people from eight different schools were led by artists whose lived experience matches those of the young people, including artist Ebony Rose Dark. who commented. it has been amazing because of the support [from Wysing's teaml. .the impact on the students was fantastic. i one of them was not so confident using the long cane and the fact that he wanted to use it following the session was amazing,. The project culminaled with a Sensory Celebration Event on 15 July.. a relaxed event for family, friends, and other users of the Sensory Support service to come together to celebrate the sensory Irails that the young people created specially at Wysing with Julia Collar. The young people presented their sensory tours to everyone to lake part in. Creatlve Youth Festival (25 Oct 2023) was co-programmed with the CYC. It was a day-long event featuring creative activty that included gaming with Uma 8reakdown. lino printing with Alexi Marshall. creative makeup with Jack Oliver, raMIC5 With William Cobbing, animation. with Alexis Parinas. and a sound workshop with Lottie Poulet. 76 young people attended, including groups from youth organisations including Twenty20, the Kite Trust, Darwin Centre mental health inpatient services and dlDeaf and visually impaired .youth supported by Cambridgeshire Sensory Support Team. Page 6
WYSING ARTS CHARITY. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 "Both my children have differing access needs, taking them to events often means that one child's needs are met while the other has the worst time and vice versa. Normally, we can never be at events, or stay very long, usually one starts kicking off and we have to go home early. This Is Ihe first time where both of them have been happy and both have had things to do which met their individual needs. thank you so much for this! It's been so nice to actually have a day out for all of us.. Parent. Creative Youth Festival Through a significant artist residency at St Peterfs School. Huntingdon (see 'residencies' and 'exhibitions') section. over 500 students across two academic years engaged in creative actlvity. Raff? Zajko worked with over 270 year 7.pupils (11yrs) across the 2022-3 academic year. through weekly workshops. Ideas and designs they developed together went on to be presented as a significant-scale permanent public artwork that unfolded inside and outside the school, and at Wysing Arts Centre. Alexis Parinas is working across the 2023-4 academic year as the next St Peterfs School artist in residence. 234 In numbers 35 artist5 spent time in residence at Wysing., We sopported 62 artisls lo produce new work; Three on-site exhibitions, two off-site, with five more exhibition5 of work produced by Wysing residency artists presented nationally and intemationally., 344.144 in-person audien reach from onsite commissioning: 31,279 In-person attendances to UK activily. 26,649 to international activity., 42 perfomiances. 16 talks. Seven artist-led workshops lor adults, with Wysing's ceramics sludlo open to members for six days a week., . One youlh-focused, youth-led festival., 10 digital projects with 36,172 engagements,. 26 formal learning sessions directly engaging 378 young people, and reaching 1,449 more; 46 informal learning sessions directly engaging 310 young people,. 20 site-based studio artists. ndralsln erf rmance a alnst ob ectlve8 Fundraising for the organisation is embedded across our work. Freelance fundraiser, Sandy Welland, works with the team lo idenlify funding streams and develop bids. Alongside raising funds to meet annual budget targets, we continue lo build new partnerships that enable us to meet.targets and share costs. Our new role, Resource and Enterprise Coordinator, who began post in April 2023, is lasked wilh growing commercial Income across Wysing's site - a new venture for our organisalion. The John Armita harllable Trust awarded us a grant to support our Young People's Programme, acknowledging Wysing's focus on young Ople facing rural isolation in an area of low cultural offer for Ihal demographic. mbri IA Al awarded us fundlng to SUPPDrt our Creative Youth Festival. an House provided funding to support two artist residencies for Japan-ba5ed artists, which will take place in 202&6. FLUX S awarded us funding to support a French artist-in-residence. In partnershlp with CAPC Bordeaux. Hen Moore Foun Huntingdon. Knoten unkt supported Murphy Yum to be in residence in 20234. British Art NeOrk awarded us a grant to explore, with sector colleagues, the potential of a national network of rural arts cenlres. Cambrid eshire Zero Carbon Communitles Fund awarded us funding towards the purchase and installation of solar panels, to be installed in early 2025. Growth Works awarded us funding to work with OEB architects and freelance fundraiser Sandy Weiland, to develop our capital fundraising bld to Arts Council England. n grant towards Rafa? Zajko's public sculpture for St Peters, School, Page 7
WYSING ART ARI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 We launched Wysing's ceramics membership programme, following a successlul pllot in 2023-4. We hosted two weddings, and fully launched our AlrBnB offer. We launched one new Limited Edition - a sculptural work by Rafal Zajko - and increased slock in our shop. We will continue to review shop sales and enhance this offer. FINANCIAL REVIEW Financial position & reserves pollcy Wysing has a robust financial strategy that supports our aims and objectives. Over the last five years we have developed our cash reserves miligating financial risk to the organisation. The Trustees review our. reserves policy on an annual basis. The Board-has set a target of a minimum reserve of £250,000 to enable the organisation ils operation wh'ilst also prolecting cashflow. Designated Reserves to develop strategic.areas of.. Capital spend for sile improvements and repairs Equipment and maintenance Personnel reserve for unexpected staffing costs Programme reserve lo mitigate against unachieved funding largels and one-off projects Website Undesignated reserves being developed for investment purposes £30,000 £60,000 £16,000 £75,000 £30,000 £192,544 The organisalion works towards an annual budget that is approved by the'Truslees and monitored throughout the year. We are privileged to have a highly skilled board of Trustees, the majority of whom have significant financial responslbilities within their own professions. They make a valuable contribution to the business strategy and embrace their responsibilities as charity Trustees. In addllion to quarterly board meetings, the t)oard has convened a.dedicated Finance Committee which meets with the management team separately and the Financial Manager reports regularly on income and expenditure, our cashflow position and reserves. All budgel-holder5 work withln stated financial guidelines and we activoly seek advice on developments within the charity sector. Overhead costs for the organisalion include a rolling programme of building and site maintenance to ensure that equipment and facilities can be upgraded throughout the year thereby avoiding the need for emergency cash items and large-scale expenditure as far as possible. Assets are being depreciated at a realistic rate and the register is updated regularly and in tandem with Ihe maintenance progfamme. Our aim is to be. a model of best practice, to build a financial strategy that can withstand the flucluations in the general economy, provide stability and allow us to grow as one of Ihe country's leading arts organisations. When funds allow, they are transferred into a three-month fixed term treasury bond to maxlmlse Interest. Page 8
WYSING ARTS CHARITY REPORT OF THE TRUSTEES OR THE YEAR END D 31 MARCH 2024 FUTURE PLANS 20234 was a more settled perlod for Wysing,.following a significant period of staff turnover across 2022-3. Seve1 of the new approaches to programme (re-thinking commissioning and sitevbased work). and commercial activity (weddings, ceramic5 Studio membership) started to embed properly and prove their effectiveness I need for further development. ital d ment This has enabled Wysing to put into plan several Strands of activily- including fundraising for capital works in 2025-6. focused on environmental sustainability and access. ensuring that our site is malched.to our mission. vision, values and aims. This work.will: Enable us to support a wlder range of access needs across our site; Reduce our carbon footprint including dependency on oil and gas: Create a better. more accessible visitor experience: Make us more financially sustainable, Ihrough an improved commerclal offer and by reducing our utilities bllls. The financial situation remains extremely challenging for a majority of arts organisations, glven serious inflationary increases and the cosl-of-living crisis, both of which have impac18d our team and the artists We work with significantly. The cosl of energy and materials have risen subslantially; we know that demand for public and private funding ouelghS supply. Should we achieve our future aims, we will be far better placed to develop and deliver a programme, confidently, that continues to be of significant value to all who engage with our work. Environmenlal sust In In March 2023. we appointed a new role.. Site and Environmental Futures Manager. This role better reflects our future ambitions to embed environmental sustainability across our work, including re-thinking the way we conceive of our sile-based commissions In relation to our rural locatlon, to sustainable site-based improvements, and supply chain I contract reviews. We know that we can do mor8 to improve biodiversity acr055 our rural site, and since the appointment of environmental sustainability expert, Celia" Willoughby, as a Trustee we have identified significant potential lo grow Ihis area of our work. riced and evaluation We know that environmental suslainability Is a key concern for our local, national and International audiences. and we believe that it will enable us to better connect to 'hyperfocal' audiences who are not currently engaged with our programme. Having undertaken significant work from 2021-2024,to build engagement with our Young People's programme. we know that there is work to continue to build audiences and respond lo the speGific needs of young. people in our area. We also want to ensure that we are evaluating with a focus on depth of engagement and identifying areas of improvernenl and success. Similarly. know Ihat our acclaimed residency and artistic prograrnme5 are vital opportunities for the artists we support. Tracking longitudinal impact has been challenging, and while some success measures (e.9. going on to win prestigious awards) are easy to spot, we want to ensure that we are able to determine against a more complex set of criteria, that is defined by artists themselves. We want to ensure that Our work is achIng key audiences (hypertocal, local, national and intemalional) and that we are making the case for the work we do wlth a great evidence base, and continually improving it, too. Having identified this significant need for in-(lepth audience development and evaluation, across 2024-25 we will be working with two highly experienced professionals to help us build a bespoke framework for evaluation and audience development - enabling u5 to continually develop, assess and improve our work with ever greater impact.. Page 9
WYSING ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Studio artists 2024 will see the completion of the consultancy.period with. studio artists. Moving fonNard. we will ensure grealer transparency and equjty in terms of working practices, wilh clarity around expectations of studlo artists. roles and responsibilities to Wysing, and vice versa. whilst the tenancy is active. Following this will be a legal review to ensure that ambitions match charitable aims and objeclives.- and Wysing's legal responsibilities. Commercial income eneration Our refreshed programme and approach reflects our small organisation's ability lo be agile under challenging clrcumstances, and we have been able to re_shape our work in a way that maintains excellence, while Increasing value and benefit for artists and publics. We know that our sile offers much potential in tenns of fundraising, and we are confident that we can further develop an approach to commercial income generation that matches our mission, vision and values. We will continue to review our targets and increase them according to reviewed capacity. Partnershi We believe that partnerships remain central lo resilience.. they enable us to do more, share knowledge. and support artisls and our team Ihrough learning opportunities. The success of partnerships such as Plus Tate, East Conlemporary Visual Arts Network, Syllabus and Create Cambrldge are vital lo Wysing: we will continue to explore and reallse further targeled partnership opportunities across 2024-5,, with an emphasis on those that support sector development, artistic development and risk-taking, and that grow our international reach and impact. Following the successful gr0h and diversificalion of the East Contemporary Visual Arts Network, we plan to map areas for development and programme potential across the neork. Our plan is to improve the financial resilience of the neork, and for ECVAN to actively feed in to CVAN national's crucial work to make the case for the value of the arts at a national level. We are looklng at raising funds for a significant piece of.work in our area to build knowledge and provide opportunity to artists lo develop new work, lake risks and positively influence work in our region. and inclusion We know that we need to ensure that our working practices and the way we support colleagues, artists and publics across our organisation and in our sector must be fully accessible, and that we mu61. build 8qUlty from an intersectional starting point. We have been rated 'outstandlng' in Arts Council England's 'Creative Case for Diversitw each year since 2016, but we need to do more. We know thal the way our sedor is built supports ableist, neurotypical habits and practices. We will continue to learn as a team how to support one another, and the artisls I publics we work with. better - through peer support, training, listening, adapting, and. where necessary, slowing down. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming do¢ument The charity is controlled by its governing document. a deed of trust, and constitutes a limiled company. limited by guarantee. as defined by the Companies Act 2006. Recruitment arid appointment of new Trustees Wysing is committed to maintaining a. pro-active approach to equality. As with all recruitment of staff and Trustees, we draw. up detailed job descriptions prior to advertising for any staff position or truslee role. Where a description already exists, il is reviewed and updated. Posts and roles are advertised internally and externally and all advertisements carry an Equal Opportunities declaration. All applicants are judged on job or role-relatéd, relevant criteria and short-listing for all senior Posts and Trustees involves at least ' members of staff and one trustee. Recruilment decisions a filed for at least six months and fee¢Jback given to unsuccessful candidates on request. Upon appointment, all staff and Trustees are provided with a job description. handbook and contract of employment if appropriate. Page 10
WYSING ARTS CHARITY EPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure. Wysing Arts Charity trades under the name Wysing Arts Cenlre. The organisation is governed by a voluntary Board of Trustees who are also Directors of the Company. The Board meets'no less than four times a year. For certain specialised areas of the charity's work subcommittees are formed which then report back to the full Wyslng Arts Centre Board. A team of salaried staff carry out the day-to-day tasks of the organisation overseen by the Diredor (Chief Executive). Other than for the services of the Directors, the charity is not dependent for its work on unpaid volunleers or donations-in-kind. Induction and training of new Trustees All new Trustees are given a broad range of materials when Ihey join the board. The material includes the aims and objectives of the organisation, a staff and trustee handbook, budgets and accounts and an outline of the role and responsibilities of becoming a tnjstee. In March 2024, Wysing Trustees held an away day at Wysing Arts Cenlre facililated by Erica Crump, Partner at Bales Wells, to ensure that Trustees had a strong understanding of their roles and responsibilities from a governance perspective. Wlder network Wy5ing Arts Centre is a member ol the Plus Tate network. The charity Cowordinates Ihe East Contemporary Visual Arts Network IECVAN) for the East of England. and Wysing's Director sits on the national CVAN Steering Committee. Wysing is also a founder member. and national co-ordinator, of the Syllabus network. Related partles The chanty ha5 no related parties. Page 11
WYSING ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The Trustees are responsible for the management of risks faced by the organisation. A. fonnal review of the . charity's risk management processes is undertaken on an annual basis. The k'ey controls used by the charity include.. Formal agendas for all Board of Trustee meetings Comprehensive strategic planning, budgeting and management accounting and reporting, making full use of funder-provided lemplates le.g. Arts Council's reporting frameworks and Julie's Bicycle) Formal written policies thal are revlewed by Trustees annually 'Established organisalional structure and lines of reporting A. Risk Regisler that forms part of the 8usiness Plan and is regularly reviewed and updated where necessary. as well as being shared quarterly with Trustees Through the risk management processes established, Ihe Trustees are satisfied that the major rlsks identified have been adequately mitigated where appropriate. The following key risk5 have been identified and sit within the Financial Risk Register. The potential impact of these risks has been considered and steps are in place lo monitor and mitigate the risk.. Loss of funding l income Loss ol key staff Poor cashflow Poor reseeS Budget does not match business plan objectives Decisions and planning from inaccurate financial infonnation Poor financial Control Poor credil control Fraud Reputational risk Site damage A qualifying third party indemnity provision is in force for the benefit of the Trustees. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02942151 {England and Wales) Reglslered Charlty number 1039555 Registered office Fox Road Boum CAMBRIDGE Cambridgeshire C823 2TX Page 12
WYSING ARTS CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDE 31 MARCH 2024 Trustees J C Bickley {resigned 291412023) T N Brooks E J Marsh (resigned 291412023) S A Wells (resigned 291412023) H Offeh R N Ladak H.M Zafiropoulos (resigned 101112024) C Willoughby E L Benson (appointed 31812023) L Billington-Brooks (appointed 211312024) L A Wright (appointed 41712023) Company Secretary L O'Brien Senior Statutory Audltor Matthew Pettifer FCA Auditors Staffords Chartered Accountants & Statutory Auditors Unit 1. Cambndge House Camboro Business Pafk Oakinglon Road, Girton CAMBRIOGE Cambridgeshire CB3 OQH Bankers Lloyds Bonk PIC 1 Legg St Chelmsford Essex CM1 1JS Sollcltors Stephany & Co 72 Watling Street Radlett Hertfordshire WD7 7NP STATEMENT OF TRUSTEES, RESPONS181LITIES The Trustees (who are also the directors of Wysing Arts Charity for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom A'ccounting Slandards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Page 13
SING ARTS CHARITY REPORT OF THE TRUSTEES OR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES - contlnued Company law requires the Trustees lo 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 Ihe charilable company for that pertod. In preparing Ihose financial statements, the Trustees are required.to select suitable accounting policies and then apply them consistently.. obseprfe the melhoLls and principles In the Charity SORP., make judgements and estimates that are reasonable and prudent., prepare the financial statements on the going concem basis unless rt is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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. In so far as the Trustees are aware.. there is no relevant audit inforniation of which the charitable companys auditors are unaware., and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit informalion and to establish that th8 auditors are aware of that information. AUDITORS The auditors. Staffords, will be proposed for re-appointment al the forthcoming Annual General Meeting This report has been prepared in accordance wrth the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Dproved by order of the board of Trustees on ............ and signed on its behalf by: L A Wright- Chair f Trustees Page 14
REPORT OF THE INDEPE WYSING ARTS CHARITY DIT RST THE MEMBERS O Oplnion We hav8 audited the financial statements of Wysing Arts Charity (the 'charitable company.) for the year ended 31 March 2024 which comprise the Slatement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial stalements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. In our opinion the financial statements: give a true and fair view of the stale of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, Including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and have been prepared in accordance with the requirements of the Companies Ad 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Audltlng (UK) IISAS (UK)) and applicable law. Our responslbilities under Ih05e standards are further described in the Auditors. responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance wilh the elhical requirements that are relevant to our audit of the financial statement5 in the UK. including the FRC'S Ethical Standard, and the provisions available'for small entities. in the circumstances set out in note 22 to the financial Statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion. Concluslons relating to going concern In auditing the financlal statements. we have concluded thal the Trustees. use of Ihe going concern basls of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to event5 or conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of al least iwelve months frorn when the financlal statements are authorlsed for issue. Our responsibilities and the responsibilitl8s of the Trustees with respect to going concern are describ'ed in the relevant sections of this report. Other Inforniation The Trustees are responsible for the other information. The other inforrnation comprises the information included in the Annual Report, other than the financial statements and our Report of Ihe Independent Auditor5 thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial ststements, our responsibility is to read the other information and, in doing so, consider whether the other infomation is materially inconsistent with Ihe financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misslated. If we identify. such material inconsistencies or apparent Material misstatements. we are required to determine whether this gives rise to a material misslalernent in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomation, we are required to report that fact. We have nothing to report in this regard. Page 15
REPORT OF THE INDEPENDENT AUDITORS TO THE MEM8ERS OF WYSING ARTS CHARITY Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomiation given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements., and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charitsble company and its environment obtained in the course of the audit. V have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 qUireS us to report to you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited. by us., or the financial statements are not in agreement wlth the accounting record* and returns,. or certain disclosures of Trustees. remuneralion specified by law are not made: or we have not received all the information and explanation5 we requlre for our audit; or the Trustees were not enlitled lo take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responslbllltles of Trustees As explained more fully in the Statement of Trustees. Responsibilities. the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation. of the financial statements and for being satisfied that they give a Irue and fair view, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparlng the financial stalemenls, the Trustees are responsible for assessing Ihe charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitable company or to Cease operations, or have no realistic alternative but to do so. Page 16
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS O WYSING ARTS CHARITY Our responsibilltles for the audit of the financial.statements Our objeclives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not guarantee that an audit conducted in accordance with ISAS (UK) will always detect a malerial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. including fraud is 'detailed below: We have obtained an understanding of the legal and regulatory Iramework applicable to the company, focusing on provisions of those laws and regulations that had a direct effed on the determination of material amounts and disclosures in the Financial Slalernents.- We have considered the nature of the industry and sector, control environment and business framework, including the design of the company's remuneration policies. We have enquired of management in regard to their own assessment of the risks of Irregularltles, including fraud. We have obtained relevant documentation and representations in order to form an opinion on potential irregularities, including fraud. We have reviewed the company's documentation of their policies and procedures relating to identifying, evaluating, and complying with laws and regulations, detecting and responding to the risks of fraud. and the internal controls established to miligate the risks of fraud and non-compliance with laws and regulalions. Audit procedures performed during the audit-included transaction testing with a focus on areas of judgement and estimations, and entries determined to be large or relating to unusual transactions. These audit procedures are designed to provide reasonable assurance that the Financial Statements were free from fraud or error. However, detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error. as those irregularities that result from fraud may involve collusion, deliberate concealmenl,-forgery or intentional misrepresentstions. No Instances of non compllance with laws and regulations or of fraud were communicated to us during the audit. A further description of our responsibilities for the audit of the financial statements is lOted on the Financial Reportlng Council's webslte at www.frc.org.uklauditorsresponslbililles. Thls description forms part of our Report ol the Independenl Auditors. Page 17.
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WYSING ARTS CHARITY Use of our report This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audil work has been undertaken so that we might state to the charitable company's members Ihose matters we are required to state to them" in an audilors, report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members a5 a body, for our audit work. for this report, or for the opinions we have formed. Mallhew Pettifer FCA (Senior Statulory Audltor) for and on behalf of Staffords Charlered Accountants & Statutory Auditors Unit 1. Cambridge House CarTiboro Business Park Oakington Road, Girton CAM8RIDGE Cambridgeshire CB3 OQH Date: . io/(u/.If Page 18
WYSING ARTS CHARITY TATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT. FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 T.otal funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 24.314 24.314 15,291 Charitable activities Studios and Buildings Public Programme 46,337 521,610 46,337 598,651 50,163 519,862 77,041 Other trading activities Investment income Other income 4,168 7,791 35,484 4,168 7,791 12,482 3.099 Total 639 704 716 745 634,471 EXPENDITURE ON Raising funds 463 8,841 9,304 44,293 Charitable actlvltles Studios and Buildings Public Programme 98.183 481,562 1,000 99.183 570,883 90,465 558,335 Total 580 208 679 370 693 093 NET INCOMEI(EXPENDITURE) 59,496 (22,121) 37,375 (58,622) RECONCILIATION OF FUNDS Total funds'brought forward 344,048 . 621,970 966,018 1,024,640 TOTAL FUNDS CARRIED FORWARD 403.544 599,849 1003 393 966 018 The notes forni part of these financial siatements Page 19
WYSING ARTS CHARITY REGISTERED NUMBER: 02942151 BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds fund5 Notes FIXED ASSETS Tangible assets 16 11.736 550,551 562,287 594,153 CURRENT ASSETS Debtors Cash at bank 17 69,387 368 103 69,387 417 401 99,077 343 231 49,298 437,490 49,298 486,788 442.308 CREDITORS Amounts falling due within.one year 18 (45,682) (45,682) (70,4431 NET CURRENT ASSETS 391,808 49,298 441,106 371865 TOTAL ASSETS LESS CURRENT LIABILITIES 403,544 599,849 1,003,393 966,018 NET ASSETS 403,544 599,849 .1,003,39 966018 FUNDS Unrestricted funds Restricted funds 19 .403,544 599 849 344,048 621,970 TOTAL FUNDS 1 003 393 966,018 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financi tements were approved by the Board of Trustees. and authorised for issue on and Vre signed on its behalf by.. L A Wright- Chair of Trustees The notes fom part of these financial statements Page 20
VVYSING ARTS CHARITY CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations Tax paid 66,379 153.089) 607 Net cash provided byl(used in) operating activities 66 379 Cash flows from investSng activities Purchase of tangible fixed assets Interest received (1,398) Net cash provided by investing activrties Change in cash and cash equlvalents In the reporting period Cash and cash equivale.nts at the beglnning of the r.eporting period 74,170 (50,781) 343 231 394 012 Cash and cash equivalents at the end of the reporting period 417 401 343 231 The notes fonn part of these financial'statements Page21
WYSING A S CHARITY NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net incomel{expenditure) for the reporting period (as per the Statement of Financial Activities) Adju8tments for: Depreciation charges ' Interest received Decreasel(increasel in debtors (Oecrease)lincrease in creditors 37,375 (58,622) .31,866 (7,791) 29,690 24,761 31,941 (3,0991 {44,195> Net cash provided byl(used in) operations 66 379 53 089) , ANALYSIS OF CHANGES IN NET FUNDS At 114123 Cash flow At 3113124 Net cash Cash at bank, 343,'231 417401 343,231 417 401 Total 417 401 The notes fom part of these financial statements Page 22
VVYSING ARTS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 LEGAL FORM The charity is a registered charity registered in England. and Wales number 1039555 and a company limited by guarantee number 02942151 having no share capital incorporated in England and Wales. Its registered office and principal place of business is at Fox Road, Bourn, Cambridge, Cambridgeshire, CB23 2TX. ACCOUNTING POLICIES Basis of preparlng tho flnancial statements The financial statements of the charitable company, vthich is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts.ln accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effeclive 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis. There are no material uncertainties about the charity's ability to continue. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, il is probable thai the income will be received and the amount can be measured reliably, Oonations are recognised on receipt. Gift Aid is recognised, in the same period as the donation to which it relates. Legacy income is recognised in full when the amount and liming can re quantified with reasonable accuracy. This is the earlier of the receipt of an interim distribution or the grant of probate. Grant income is recognised in full on receipt unless there are unfulfilled performance conditions that do not allow the income to be recognised. In this case the grant is accounted for as a liability until the performance conditions have been met. Grant income is only deferred if the grant is time-relaled and relates. partly or wholly to a post year-end time period. . Income is shown net of VAT where applicable. Studio rental income is recognised in the period to which it relates. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefils. will be required in settlement and the amount of the obligation can be measured reliably Expenditure is accounted for on an accruals basis and has, been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Govemance costs Governance costs include those costs associated with meeting 'the constitutional and statutory requirements of the charity and include the audit fees. registration fees and legal costs. Page 23 continued...
WYSING ARTS CHARITY NOTES TO'THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Allocation and apportionment of costs Costs are allocated between Ihe activity relating to Exhibitions and Workshops where the cost. is incurred in relation to the delivery of arts activities. Costs are allocated to the Studios and Buildings activity where the costs relate to the provision of studio spaces or maintenance of the.site. Tangible fixed assets Depreciation is provided at the following annual rates in order to wrrte off each asset over its estimated useful life. Leasehold Short leasehold Improvements to property Plant and machinery Fixtures and fittings Motor vehicles Over the length of the lease, 50/0 on cost 200/0 on cost 20 % on cost 200/0 on cost 20 % on cost Tangible fixed assets costing more than £1,500 are capitalised and included at cost including any. incidental costs of acquisition. During the year the lease on the land was exlended by 20 years to expire in March 2048. This has been reflected in a change in the depreciation rates to write off the costs over the length of the new lease. Taxatlon The charity is exempt from corporation tax on its charitable activities. Fund accounting Unreslricled funds can be used in accordance with the charitable objectives at the discretion of the Trustees. .Restricted funds .can only be used for particular restricted purposes within the objects of the charity. Reslrictions.arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each, fund is included in the noles to the financial slatemenls, Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amounl prepaid net of any trade discounts due. Cash and 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. Page 24 continued...
WYSING ARTS CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued 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 Ihe transfer of funds to a third party and the amount due to settle the obligation can be estimated or measured reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financial instruments The charity only. has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. DONATIONS AND LEGACIES 2024 2023 Donations .24,314 OTHER TRADING ACTIVITIES 2024 2023 Cafu sales Sales of books and athork 180 196 12 286 INVESTMENT INCOME 2024 2023 Deposit account interest 3,099 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Provision of subsidised studio space Studios and Buildings Farmhouse residential rent Studios and Buildings Space hire Studios and Buildings Other income Studios and Buildings Grants Public Programme Curatorial consultancy Public Programme Ticket sales Public Programme Other.income Public Programme 30,533 8,250 2,321 5,233 584,114 2,158 665 30,738 9,890 6,477 3,058 504.175 4,861 2,007 8,819 644 988 570,025 Page 25 continued...
WYSING ARTS CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES - continued Grants feceived, included in the above, are as follows.. 2024 2023 Arts Council England Henry Moore Foundation Art Fund Esmue Fairbairn Foundation South Cambridgeshire District Council The Ragdoll Foundation British Art Network Research Group Fluxus Art Projects University of Southampton Cambridgeshire Community Fund The World Reimagined Growth Works Freelands Foundation John Armitage Chariiable Trust Japan House London Trust 465,173 3,000 465,173 24,300 2,000 15.000 11,700 1,000 16.058 1,885 4,512 5,305 1,000 2,600 15.683 12.000 25,000 584 114 504 175 The charity has also benefitted from Charitable Raie Relief. RAISING FUNDS Raising donations and legacies 2024 2023 General marketing costs ECVAN Costs 4,230 281 34,025 36 319 Costs to generate earned Income 2024 2023 Development costs 7,974 Aggregate amounts 9,304 44,293 Page 26 continued...
WYSING ARTS CHARITY NOTES TO THE FINANCIAL, STATEMENTS - continu FOR THE YEAR ENDED 31 MARCH 202 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 9) Support costs (see note 10) Totals Studios and Buildings, Public Programme 99,183 563 905 99,183 570,883 663,088 6,978 670 066 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Site running costs Office administration Space hire costs Other costs Programme costs Training, recruitment & HR Travel and motor expenses Freelance costs Depreciation 299,079 99,183 41,980 284,037 90,465 34,578 . 464 6.664 .143,717 14,668 4,567 30,850 578 123,581 18,204 3,282 44,351 31,866 663 088 641.951 10. SUPPORT COSTS Governance costs Public Programme 6,978 11. NET INCOMEI(EXPENDITURE> Net incomel{expenditure) is stated after chargingllcrediting):. 2024 2023 Depreciation - owned assets 31,866 Page 27 continued...
WYSING ARTS CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 12. AUDITORS. REMUNERATION 2024 2023 Fees payable to the charity's auditors for the audit of the charity's financial statements 5,425 13. T.RUSTEES' REMUNERATION AND BENEFITS There were no Trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses ' During the year one Trustee-was reimbursed for expenses totalling £41912023.. £nil). 14. STAFF COSTS 2024 g023 Wages and salaries Social security costs Other. pension costs 270,517 18,352 258,779 18.585 8,673 299 079 .The average monthly number of employees during the year was as follows: 2024 10 2023 10 Direct charilable No employees received emoluments in excess of £60,000. During the year the Key Management Personnel ,costs were considered by the Trustees to be £177,585. (2023. £174,896) 15. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restncted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 15.291 15,291 Charitable actiiiities Studios and Buildings Public Programme 50,163 487,165 50,163 519,862 32,697 Other trading activities Investment income Other income 12,482 3,099 12,482 3,099 33,574 Total 601 774 634,471 Page 28 continued...
.' WYSING ARTS CHARITY NO ES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 15. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds Total funds EXPENDITURE ON Raising funds 44.293 44,293 Charitable activities Studios and Buildings Public Programme . 90,465 472 715 90,465 558 335 85,620 Total 607.473 693 093 NET INCOMEI(EXPENDITURE) Transfers between funds {5,6991 11098) (52,923) {58,622) Net movement in funds (16,797) (41,825> (58,6221 RECONCILIATION OF_FUNDS Total funds brought fop4vard 36.0,845 663,795 1,024,640 TOTAL FUNDS CARRIED FORWARD 621970 966 018 16. TANGIBLE FIXED ASSETS Improvemen to property Short leaséhold Leasehold COST At 1 April 2023 and 31 March 2024 1527 875 60.950 DEPRECIATION At 1 April 2023 'Charge for year 959, 580 52,916 3,047 44,804 At 31 March 2024 982311 55 963 NET BOOK VALUE At 31 March 2024 545.564 4,987 At 31 March 2023 .8,034 Page 29 continued...
WYSING ARTS CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 MARCH 2024 16. TANGIBLE FIXED ASSETS - continued Fixtures and fittings Plant and machinery Motor vehicles Totals COST At 1 April 2023 and 31 March 2024 93.789 49,467 5,193 1782.078 DEPRECIATION At 1 April 2023 Charge for year 75.965 49.467 5,193 1,187,925 31866 At 31 March 2024 82 053 49.467 5.193 1219 791 NET BOOK VALUE At 31 March 2024 11,736 562,287 At 31 March 2023 17,824 594 153 In the event of a disposal of the leasehold property occupied by Wysing Arts Charity or cessalion of trading. a proportion of funding received towards the development of the property IS Potentially repayable, secured by a legal charge over buildings on the property. 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors VAT Prepayments and accrued income 66,744 363 2,280 65,520 69 387 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors ' Social security and other taxes VAT Other creditors Accruals and deferred income 26,171 5.184 31,397 4,070 381 2,770 31,825 2,771 11,556 70,443 Supplier invoices are paid within the supplier's agreed terms, typically viithin 30 days. Social security and other taxes are paid by the.19th of the. following month. Other creditors are paid when due credit card in the following month, pensions at the.beginning of the new month and studio deposits on vacation of the studio, if repayable. Page 30 continued...
WYSING ARTS CHARITY OTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS Net movefftent in funds At 3113124 At 114123 Unrestricted funds General fund Capital spend Equipment & Maintenance Personnel Programme Fund Website 133.048 30,000 60,000 16,000 75,000 30,000 59,496 .192,544 30,000 60,000 16,000. 75,000 30,000 344,048 59,496 403,544 Restricted funds Capital Development various funders ECVAN.. New Geographies Creative Youth Council British Art Network Research ECVAN. New Histories Fenton Arts Trust: Residencies Art fund Growth Works Solar Panels Syllabus 576,329 2,551 18,162 (25,778) 550,551 2,551 11,387 .52 (6,775) 52 (128) {3,5001 (10,838) 7,003 15,000 128 3,500 21,300 10,462 7,003 15,000 621970 22 1211 TOTAL FUNDS 966 018 1.003 393 Page31 continued...
WYSING ARTS CHARITY NOTE TO THE FINANCIAL STATEMENTS - continued ' OR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follov4s'. Incoming resources Resources .expended Movement in funds Unreslricted funds General fund 639,704 (580,208) 59,496 Restricted funds Capital Development various funders Creative Youth Council Brilish Art NeOrk Research ECVAN.. New Histories Fenton Arts Trust.. Residencies Art fund Growth Works Magnetic Residencies Solar Panels Syllabus St Peters, School Public Art Commission Creative Youth Festival (25,778) (18,475) {948) {128) (3,500) (10,838) {8,680} (16,058) (25.778) (6,775) 52 1128) (3,500) (10,838) 7,003 11,700 1,.000 15,683. 16.058 15.000 12,000 3,000 15.000 2,843 {9,157} {3,000) 77,041 99,162) 22,121) TOTAL FUNDS 716 745 (679,370) Page 32 continued...
WYSING ARTS CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 3113123 At 114122 Unrestricted fund8 General fund Capital spend Equipment & Maintenance Personnel Programme Fund Website 149,845 30,000 60,000 16,000 75,000 30 000 (5,699) (11,098) 133.048 30,000 60,000 16.000 75,000 360,845 {5,699) (11,098) 344,048 Restricted funds Capital Development various funders Esmee Fairbairn Foundation ECVAN. New Geographies Creative Youlh Council DASH - Education British Art. Network Research ECVAN.. New Histories Fenton Arts Trust.. Residencies Circuit Routes Art fund 602,109 11,318 2,657 23,080 248 1,750 8,612 5,000 9,021 (25,780) (20,4041 {1061 '(4,918) (248) {1,750) (8,484) (1,500) (11,033) 576,329 9,086 2,551 18,162 128 .3,500 2,012 663 795 52 9231 11,098 621970 TOTAL FUNDS 1024 640 58 6221 966 018 Page 33 continued...
WYSING ARTS CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 601,774 (607,473) (5,699) Restricted lund8 Capital Development various funders Esmee Fairbairn Foundation ECVAN. New Geographies Creative Youth Council DASH - Education British Art Network Research ECVAN. New Histories Fenton Arts Trust.. Residencies Circuit Routes Art fund A Language of Holes (25,780) (20,404) 11061 14,918) (248) 13,635) 18,4841 11,500) (13.033). (3,000) (25.780) (20,404) 1106) (4,918) (248) (1,750) (8,484) (1,500) (11.033) 21,300 1,885 2,000 24,300 85 6201 52 923) TOTAL FUNDS 634 471 (693 093) 58 622) Purposes of Restricted Funds ECVAN: New Geographies Funding towards new commissions and outreach projects across the East of England led by Wysing as chair and co-ordinator of ECVAN. ECVAN: New Historios Research and development funding for an ECVAN partner commissioning project expanding on New Geographies.- to platform stories wthin the region through communily engaged public art. A Languag8 of Holes Funding towards developing innovative and creative approaches to making live art and perfomance events maximally accessible. Art Fund Funding from the 'Art Fund 'Reimagine' programme strand, to develop innovative on-site commissioning. British Art Network Research Group Funding towards a programme of activity on the topic of Captioning in British Art between January and September 2022. Capitsl Development - Various funders Capital funding towards the design team fees and the cost of the new studio and reception buildings. All funding was spent by 2008 and the fund balance consists of fixed assets being depreciated over their useful econornic life. Circuit Routes Page 34 ontinued...
WYSING ARTS CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT.IN FUNDS - continued Funding from the Esmee Fairbairn Foundation towards project costs for creating a pathway of sustained involvement and development in creative arts for young people in rural communities in Cambridgeshire with the intention of empowering marginalised young people to participate in deeper and longer term creative projects and activities. Creative Youth Council Funding from the Esmee Fairbairn Foundation and the Ragdoll Foundation towards project costs for creating a pathway of sustained involvement and development in creative arts for young people in rural communities in Cambridgeshire with the intention of enabling more marginalised young people to participate in creative opportunities. DASH - Education Funding to change.the culture of the visual arts sector so it becomes more inclusive and accessible. Esmee Fairbaim Foundation Funding to deliver a Children and Young Peoples, Programme over three years. Fenton Arts Trust- Residencies Funding to support bNO residencies for early career artists at Wysing. Growth Works Funding from the Growth Works Prograrnme, funded by the Local Growlh Fund for investment activily. Magnetic Residencies Funding from Fluxus Art Projects towards "Magnetic a joint Franco-UK initiative that brings together ten institutions to create a new programme of artist residencies of eight weeks each. Solar Panels A Zero Carbon Communities grant from South Cambridgeshire District Council for the purchase of Solar Panels. Syllabus £50,000 granl, payable over a ten year period, to transform Syllabus" Wysing's alternative arts education programme, a programme that supports diverse and underrepresented artists to develop their practice and networks. St Peterfs School Public Art Commission Funding from Henry Moore Foundation for "We Are Here" a multi-site public sculpture commissioned by Rafal Zaiko. Creative Youth Festival Funding from Cambridgeshire Community Foundation to,enable Ilfysing's Creative Youth Council to co-programme and co-run a free'youth Festival for their peers, largely mar9inalised young people living in rural Cambridgeshire. Purpose of de8ignat¢d funds Capital spond - to be used for feasibility costs associated with sustainable capital improvements. Equipment and Maintenance to replace essential equipment and larger-scale maintenance work on buildings around the Wysing site. Pag¢ 35 continued...
ING ARTS CHARITY NOTES TO TH FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Programme Fund reserve held against funding cuts and unachieved income alongside one-off projects including publications and website improvements. Personnel Fund to cover costs associated with long.term sickness. cover and legal costs in the evenl of disputes. Website Fund -' to cover the costs of developing and updating the website. 20. EMPLOYEE BENEFIT OBLIGATIONS The charity operates a defined contribution scheme and contributions are charged to the Statement of Financial Activities as they accrue. The charge for the year was £10,210 {2023.' £8,673). 21. RELATED PARTY DISCLOSURES During the year the Trustees made donations without conditions totalling £nil {2023.' £5,000). 22. FRC ETHICAL STANDARD- PROVISIONS AVAILABLE FOR SMALL ENTITIES In common with many other businesses of our size and nature we use our auditors to'prepare. and submit returns to the tax authorities and assist with the preparation of the financial statements. Page 36