COMPANY REGISTRATION NUMBER: 02960157 CHARITY REGISTRATION NUMBER: 11J40321 Creative Arts East Company Limited by Guarantee Unaudited financial statements 31 March 2021 Creative Arts East Company Limited by Guarantee Financial statements Year ended 31 March 2021 Page TnJslees' 8nnu81 report lineorpxxaling the direc￿, ￿port) Independenl examinerfs rewt to the tnjsiees 10 Stslemenl of financial actNibes {indudirvJ in￿rne and expenditure account) 11 Stslemenl of financial kM)sits"c41 12 Statement of cash flows 13 Notes lo the financial stalerrwts 14 Creative Arts East Company Limited by Guarantee Trustees, annual report lincorporating the d1￿ctorS, report) Year ended 31 March 2021 The trustees, who are also Ihe directors for the purposes ol company law, wesent iheir report and the unaudited financial statements ol the charity lor the year ended 31 March 2021. The financial s13lements hav& been prepared in xc£Jrdance with the aco)unting poli(xe5 Sel out in notes lo Ihe accounls and comply wilh the charrty's governing document, the char$￿'eS Act 2011 and Companies Act 2006 and Accounling and ReporliThJ by Chanlies Slalement ol Recommended Practice applicable to ¢harilies preparing their accwnts in aco)rdancE wrth Ihe Financ￿1 Reporting Standard applicable in Ihe UK and Republi¢ ol IrekrKI published in Odober 2019. Chair'• rnport 2020121 has bgen, withoul a doubl. one of Ihe m051 challenging in iecent limes", both for Cr&ativ8 Arts East. our partners and b&neficiaftès. Ihe cultura sector nationalty and Ihe country as a whde. Nevertheless. the leam and Board ¥1 Cre¥live Afts East. have risen to ihe many challenges piesenled by Ihe global COVID-19 pandemic wilh 8 foNYard-thinking, meaninglul,and positive response. Whilsl almosi all the scheduled rural touring evenls were cancelled or postponed. our Staff quickly ￿'V0¢ed to provide online a¢cess lo films and live performance. postal and online learning antj wellbeing provisi￿ for people ol all ages expèrien¢ing isolation, fees lor mulli￿e Ireelance artists. and partnership 8uoss Iho voluntary seclof for COVID emergency supwjrt and recovery measures. A5 ever, but espeually in this last ye*T. we remain grateful for the continued aThJ essential backFng ol Ouf funders and supporters, many of whom have allrywed u5 to flex their inveslmenl to make a meaningful respon$& lo the year in hand and Ihe obstacles it presented. We are also 9ralelul lo Iho$e who contributed special &m¢rgen¢y fvndin9 towards our Ofganisational overheads in a moment where we were unable to fund r8ise in Ihe nofmal way I would also like to extend my thank5 to the Board and Senior Managèm&nl ol the National Centre lor Wriling. who offered u$ temp)rary office space and enabled us lo reduce our second largest overhead by exiting our long-lemi lease. This has prow'¢J8d fi￿ar￿la1 stability lor the charity and job securily for its employees into 2021r22. AS we look ahead. th8fe are still many thallenges in place. bul our team ho$ buill strong foundations on which lo w¢alh&r thi$ storm and evidenced our abilty to rise to any Challenge". on that basis I remain confident in the p0511ion ol our organisalK)n and look lO￿ard to working wilh Ihe team. 808r¢J, partners and inveslors lo reimagine. rebuild and feinvi9orale our collective lulures. Max Edwards Chair Creative Arts East Company Llmlted by Guarantee Trustees, annual report (incorporating the directors, report) (conthu8d) Year ended 31 March 2021 Reler•nce and administrativ• delai18 R•gbst•r•d ¢harlty na Creab"¥e Arts East Charity registration number 1040321 Company r•gl•tratlon numb•r 02960157 Prlnclpal offl¢• •nd r•gl$t¢r¢d Dragon Hall office 11&123 King Street Norwch Norfolk NR1 1QE Th• tru$t• The Injslees who served during the year and ai the date of approval were as follcws.. Max El￿arts Pal Holtom Mari Martin Alison M¢Farfane Tony Russell (resigned 18 March 2021} Lynne Sirnpkin lappoirtled 16 March 20211 Elizat>elh Suneryille Prlnclpal Offic•r Nalalie Jod8 IExeculi¥e Director) Obur4•r* Cassie Cal¢hOe- Arts Counol England Sarah Denrti$- Borough Counol ol knn9'$ Lynn an¢J Wesl Norfolk Company Mcr•tary Chri5 Allison (resigr￿d 31 May 2021) Julie Hewitt (appointed 1 June 20211 Ind•p•nd•nt •x•mln•r Mark Proclor FCA DChA Lovewell Blake LLP Chartered a¢countsnls 8anksi¢Je 300 Peachman Way Broadland Business Park Norwich NR7 OLB B•nk•rn Santa￿r Boot Mewyside L30 4G8 Creative Arts East Company Limited by Guarantee Trustees. annual report (incorporating the d1￿ctorS. report) {coniints8d) Year ended 31 March 2021 Bardays Bank PLC 1 Chui¢hill Place London E14 5HP Virgin Money Jubilee House Goslorth Newcaslle Up)n Tyne NE3 4PL Creative Arts East Company Limited by Guarantee Trustees, annual report {incorporating the directors. report) (eottithued) Year ended 31 March 2021 ObJ•ctlve• and •¢tlvttl•s Thtr purposes ol the charity are Ihe promoling. mainlaining. improwThJ and advancang ol education within the comrnunrty al large. and partiujlarfy in the rural areas of Norfolk. through the promotion. production, performance and encouragemenl ol Ihe arts (defined as Ihe perfoming. visual, media. plastic or written arts). In furthfjra￿ of such otyects the chanty Shall have Pty4¥er". Io Co-operate and enlw into agreernents or aWT8ngements with any authonlies. national. local OT otherwise. intefnalional bodies, parish councils. village hall committees. schools. churches, arl$ centres, theatres, clubs, soaebes, charitable trusts and other similar bodies and individuals,. lo ¢ause lo be held exhibi￿"On$. meetings. lectures. dasse$, $&mrnars. coufsgs, perfomiances, workshops, excursi￿$. entertainments and broadcasis erthgr alone or with olhei$,' lo cause lo be Wr￿en and prinled or otherwise reproduced and orculated. gratuilou51y or otheTWiSe, periodicals. rnagazines. books. leaflets or other dwjrnents or films or recorded tapes or other techndogy-based media. Th8se obl￿S sel out the breadth ol ￿1vty Ihal Cr&alNe Arts Easl may undertake an¢J the collaborative approach Ihal lies al the heart ol Ihe organisalion. They also define the peripaleti¢ nature of the aclivilies, and Ihe centrality of leafning about. and Ihrough. Ihe arts 10 ennch and improve the qualily of life of Ihe whole community. To this end Creative Arts Ea8f5 mission 13 "To increase people's en￿yrnent, skills and health through the power of the arts". Our main aims are to- To inspire people lo èxpand their indiv￿ual and bro8¢Jen their cuRural Pthzons To empower adums and young pecyle lo Jcrfn togelher to enrith Iheir communitie5 To gnhanc& Ihg wellbeing of indiwdual$ wilhin rural and disadvantag8d ￿MmUn￿leS To f8ise the skills andlor ¥spiratws of rur¥lty isobted atvj disadvantage<1 individuals and ¢ommunrties To be a highly efficienl, innovative and effective organisaiion We focus on engaging Ihose communities ￿ sts fflembers who face geographical. physical or othaf barriers to participating in the curtural lrfe of Ihe area, and do this by providiThJ a range ol actiwties that take place on an outreach basis in a wde variety ol I￿at1(￿s. Mostty targèted at those who are disadvantaged and provided frèè of ¢ha¢ge, whefe d)arge$ are ma¢Je for actiwties thèse are kèpt as as M)ssible and nces$ions prO￿ded lo ensure w￿e accessibility In (*Jing so the Iw$lee$ have had ¢Jue regard to the Ch8rrty Commissitin's general gu￿￿nCe M wblic benefit and lo ts supplementary guidance on fee charging. Summary of th• maln aetfvltl•s In r•latlon lo th•s• objects Our strategy is to dèliver activities Ihat benfrfit the public thriwjgh majcff strands of work in order lo fulfill our aims. These aTe". 1. The delivery ol ￿re ￿mMUn￿ tour1r￿ work. In part￿rship wth local authorrtTres and voluntsry groups in Norfolk and Suffolk we org8nise highly successfvl crynmunty tounng sc*emes. ￿inging Professional performing artists and an edectic programme ol Wms inio njral communities. Creative Arts East Company Limited by Guarantee Trustees. annual report (incorporating the dlrectors. report) ftonkn¢*rf) Year ended 31 March 2021 Obj•ctives and activiti•8 (Conllnuod) 2. The delNery ol a portfolio ol leaming proje(Is using the arts as a lool for eThJagernent in partnership with PriV8le. public and volunlary sector Stakeholders. SlgnifK•nt4ctivil•es Summary of the main achievements of the ¢h8rity d4tring the year 1. Th• d•livery of cor• community t(¥uring work. Community louring across Norfolk and Suffolk remains a core pr￿￿ty for C￿alIVe Arts East ICAEI. The Creative Arts East ￿"Ve1 and Creative Arts East Screen s¢heme$, provide cornmunrty groups in rural locations across Norfolk and Suffolk acces5 to.. ujraled Pfojcammes ol appropriale live performance and film titles.. finanual subsidy towards Ihe cost of fees and licenses.. reduc&d hire rales for projection equipm8nl'. marketing C￿Literal.. and volunleer training proVis￿D. Throughout 2021Y21. (Jue lo the COVID-19 pandemic, the majority of scheduled community events were cancelled 0¢ poslponed Nevertheless, C￿alIVe Arts East Live! and Cfealive Arls East Sc¥een continued to support grassroots voluntary groups and ccxnmunty venues wilh online training and advice and the schemes enabled over 45 CAnema or online events to lake pla￿ in Ihis yeaf lin ¢omparison lo the 570 during 20191201. These evenls enabled over ￿ engagernents ￿1h arts 8nd cuttu￿ 1￿mpared to 30,CVJ in in 20191201. The work of the Creative Arts Ea$fs LNel and Screen schefnes has been mainlained thanks to ongoing investment by Norfolk Counly Council alOng$￿e ¢ontnbub'ons from South Norfolk. Breckland, Kings Lynn & Wèst Norfolk. Mid.Suffolk and 8abergh Distrid CtyJnc4L8. 2020r21 was th8 third yeai of CAE'S 4-year National Portfolio agoement wilh Art8 Council Englantj 12018-20221 which underpins the organi$alion lo deliver ihis woth. 2. Th• d•llv•ry of • portlollo of harnlng Pr￿¢￿.USInq th• art• •• a lool for engag•m•nL Alongside its core community touring a¢tivilie$. CAE develop$ and manages a portfolio of participatory and developmental projec15. Projecl delivery remains a necessary element ol the CAE financial modèl. th Income from which, in conjunclion ￿th essential local authority irweslmenl. undemriles the costs ol the organisation and Ihe Creative Arts East Screen scheme. As such the Charity continued to manage a wide portfolio ol project actiwty ijuring 2020r21 that prowded essential leaming opportunrties, health and wellbeing intervention5 and COVID-recovery lo commun￿"e$ and indM4ual$ across Ea$l Anglia. Projecl activity during 2020r21 included. Iwo large-s¢ale ciwnmunity louring projects - Create, Promote Encourage Music. a young pfomoler Iraining scheme lunded by Youlh Music. and Inn Crowd. louiing live lileralure to rufal pubs funded by Arts Council England. Whilst these project5 nol deliver in-per50n actiwty Ihis year, Ihe delivery models were repurposed to address and support the issues and re51ridion5 broughl about by the pandemic. In addition. there ￿rna1ned a sirong locus on delivering projects where the emphasi5 SUPPOrted the ￿ltural educalion and wellb6ing improvement of people who lacE barriers to part￿IpatIOns. in particular the delivery of Ihe in¢￿aSinglY popular'our Day Out, programme - an inclusNe older peoples programme of arts partiupation. wrth specific emphasis on reaching those living with dementia and their caref5 lunded until 2022 by Spiiil of 2012. National Lottery Communty Fund and the Earf ol Northampton's Charity via Mercef's Company In 2020 this programme was ￿eSigned lo pro￿de fortnightly postal wellbeing packs lo partiapants. enhanced wrth a digital pfogramme of assO￿alet1 a¢tivrty. th new investment from Independenl Age. specffjcally lo support COVIO-19 emefgency ￿lIef. CAE w8$ able to extènd this FK)Stal inlefvention to many more res￿ents across Norfolk and the wider region. Creative Arts East Company Limited by Guarantee Trustees, annual report (incorporating the directors, report) {conthvedJ Year ended 31 March 2021 Oblèctlv•$ and a¢tfvlths (tonthiimo) Public benefft In planning actiwltes for year under re¥iew Ihe T￿￿tee5 kept in mind the Charity Commission's guidance on Public Benefil at meetings. when exeicisir¥J p￿e[S or performing duties in their role5. The adiwties oullineil above in this r8port provide èxamp￿5 of how the charity has sought to lurther its Charitable purposes for the benefft of the general public. The Twslees believe passionately that the delivery ol our work as outlined on page 5 beneffts a S￿n￿tsnl secbon of Ihe genwal wbli¢ in Norfolk, Suffolk, and Ihe wider Southeastern region. Our •rtlstl¢ valu•s Our art1511¢ a1rn5 are lo Inspi￿ people lo expand their individual creativity, broad9n their cultural hoTizons and join together to Create cutturally rth. diverse and indusive communities. CAE strives to achieve balanced programmes ol èngagement. ensuring representallon of a wlde range ol ¥rtfornis, stories and ¥ovs, which will appeal lo all sec1￿S ol the communty. Care is taken lo use public subsidy wisely. exefusing careful control over quality, arlislic integrity. breadth, variety and cultural diver$sty Wherever possible we seek opportunities to present work which extends experience. and surprises. exules. challenges and d&velops new audience$. Wè are kèen to identify and support Up-and-coming. as well as esta￿lShed. regional companies and perfomers who can conlnbule lo the development of CAE programrnes and projects and the beneficJ8ries ol these. Str•t•g1¢ r•port The following sections for achievements and perfOrMar￿ and finanoal rew8w fomi Ihg $trategic report of the ¢harily. Achl•v•m•nts Ind p•rfomianc• During 2020r21 CAE continued to work to the Business Plan that was developed fo¥ 2018-22, reviewing areas of development and change as n¢￿SSary. In landem wrth Ihis 5ils the Audience Development, Equality & DNersity and Environmental A¢twi Plan$. which are reviewed regularty and updaled as necessary. CAE continued to offer h￿h quality. wofessional cullufal inlerventson$ to rural ty undarserved communities and isolated residenls across Norfolk, Suffolk. and the easlem fegion, enabling cullural engagement with over Iickel buyers through a programme ol rural cinema and online SC￿ening/PerforMance events.. and prowding over 26LKI leaming and partiopath.on opportUnit￿S for a range ol be￿fi￿a￿e$ thrtyjgh postal and online delwery. Whi151 in-person events and ackn"￿11¢$ were unable lo tske place, CAE undertook a number of strategic and developmental initiative5 to evolve and enhance Ihe ¢ommunrty louritvJ provision locally and nalionally or lo support the reopening of the ¢ultural sector at large. thesè induded the design of an Event Management Leaming Module for Libraries Connect. ihe planning lor a new o)mmunffji lounn9 network acro$$ Cambridgeshire and a y￿1h Leadefship in the Aris enqu￿. Creative Arts East Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) (CL￿￿￿•￿) Year ended 31 March 2021 Flnan¢lal r•¥￿W The annual incorne of Creative Arts E8sI wa5 £429.189 {2020". £550,492) and expendilure was al £429.760 12020.. £549.3801. Tesuhing in a deficit 01 £57112020 surplus of £1.112I. R•s•The$ Polky The Iruslees. having regard to Ihe liquidty requifefnents ol 0￿ralIng the charity and lo Ihe Teserye5 FKJIicy. have operated a policy of keeping available lunds in an interest-bearing account and seek to achieve a reasonable rale C￿ deposit. Reserves are needed to bridge the gap betsyeen the spendin9 and r&c&iwng of rttources and lo cover unplanned emefgencies and olher expendrture The Irustees cot)sK1er that Ihe idèal level ol reserves as al 31st Maich 2021 would be £50.(￿. The actual reserves were £82.295 providing the charity with £32.295 01 working capital. This wthing capital wll be used to invesl in the charity's future by supporting activities that secure its medium to ￿￿9 lem. andlor lo support, in the shjrt term, any fvnding shortfall, particularty in lighl ol the COVID.19 impacl on funding ava41ats"lity. Of the actual rèserves, the tharity's free rewves {beiThJ net rjjrrenl assets in the unrestricted fund) amounled lo £44.690. CreatlV8 Arts East is grateful to its ¢OTe fundèrs who enable the core activrties to take plach each year. Th&s6 are Arts Councll England, Norfolk Counly Countsl and the Dislri¢t and Borough Councils of Mid Suffolk & Babergh Isuffolkl, Breckland, KiThJs Lynn & Wesl Norfolk. North Norfolk and South Norfolk. 118150 thanks funtjers which supported specthc project adivity or contributed emergency COVID-19 ftjnding, including.. Spirit 012012. British Film Institutè, Arts Counal England, Esmee Fairbairn. Mercerfs Company, National Lottery Communily Fund. Borough Coul￿1 ol kn'rvJ$ Lynn and Wesl Norfolk. Norfolk Cc*Jnly Council, Independent Age and Youth Music. Pl•n• for ftrtur• p•rlod• In July 2014 Arts Couwl Nalionol Portfolio Organisathjn INPOI status was awarded lo the Charity lor th￿9 years from 1s1 April 2015 10 31sl Mar¢h 2018. In July 2017 the Charity was awarded a lurther lour-year NPO funding agreement from Aprbl 2016 - March 2022 In September 2022. CAE will apply to Art5 Council England for an extension lo Ihis funding lem until M8f¢h 2023. and during Ihis time the charity will have made anolh8f application to mainlain its NPO status Irom 2023 onw8rds. During 2021r22, CAE will deliver a number ol new prcyects. induding Kickslart Easl Anglia providing Galeway adminisir8lion for 51 cultural employers offering 150+ plarEmenls to unemployed young people aged 1&24. and Plugged In - 8 commissioning and dKJital programme developmenl project providing a platform lor new and exisbng work by a range of diverse artists. Imycl ofCOV1ts19 During 2020121 CAE has proactivè in rèpurposing ils soaal impact project5 to make a rtrlevanl conlribution lo the COVID-19 emergency rèlief effort localty, many ol the innovations developed durin9 Ihis time will change and enhan￿ our lorvJ-lem) del￿ery approach for the better. Thanks to conlinued and flexible investment comrnilmenls by primary funders, plus additional emergency invèstment from the Esmèe Fairbaim Foundalion. South Nortolk Council vla the Local Authority Discretionary Grant Fund, and the Nat￿al Lottery via Ihe British Film Institute Film Audience Network, as well a5 savings made Int￿allY and through the govemment's Job Retention Scheme. CAE has maintained its financial position and lorecasts a breakeven budget for 2021122. This toundalion. alongsidè our tfack record in designing. ftjndraising, and delivering social impact projects several ol whi¢h are already underway, sl8nds us in a str￿9 position to maintain a sound financial positKJn in 2022123. Creative Arts East Company Limited by Guarantee Trustees, annual report lincorporating the directors. report) {¢Onllnu•dl Year ended 31 March 2021 Structure. gov•rnanc• and manag•m•nt Govwnln9 doeum¢n¢ The organisation Is a charitable c4Jmpany limited by guarantee. incorporated on 20 July 1994 and registered as a charity on 23 August 1994. The company was eslablished under a Memorandum of Association which established the objecls and of the ¢harilable company and is govem811 undor its Articles of Association. T￿￿te+ $elecl1(￿ metho(ts Trustee5 are elected Irorn and by the fijll members at the Annual General Meeting. One third of the Irustees musl retire from office. The members to retire shall be those longest in office since their last election. Theso momb6rs are eligibl& foi re4IèCt￿n. Two members ar& appoint9<1 representing servi¢& users or partners, th• rémaining members are appointed by Ihg Company in gengfal m￿tIng as st thinks fit. T￿st¢¢ lftdu¢don and tr•lnlng New Trustws undergo an C￿entatIOn day to bri•f them on iheir18gal o￿lgationS under charity and company law, the Charity Commission guidance on publ￿ benèfit. conlenl ol the M&morandLtm and Articles ol Association, Ihe Board, the su&committ&e and decisKJn making process, Ihe risk reg1$1gr, th9 8usin¥ss plan and recènt finan¢ial infomalion Trncluding the finan¢ial wrf¢)man¢e ol th8 ¢harity. During the in¢Juclion day. thèy meèl key employees and other Tntslets. Trustees are er￿)Uraged lo attend appropiiate exlemal training evenls wh8re these will farAlitste the undertaking of their role. Ory•nl$atlon•l$tru¢turn The Charity is governed by 8 808rd of Managemenl who are eleded lo Offi￿ 31 the AGM in accordance with the terms laid th)wn in rfs Memcff4ndum and ArtKle5 ofA88ociation. Thi5 Board of Management are th Iruslees ol the Charity. Tho Board meets quarterty and there 1$ a sUt￿COmmittee covering finance, a￿111 and staff which nom)ally meets ￿lce a year or more Irequentty as required. An Executrve Oirector is appointed by the Trustegs to managa the day lo day operations ol the Charity. Decistons are made by the Board bul lo facilrtate operations. the Exe¢ulive DI￿¢10( hès delegated authority for operational matters induding finance, employment. luThJraising. programming and project Management. The ExecLrtive Director and Finance Manager attend Board meetings to presenl reports and advise the Board. Rlsk management The Board of Management mee15 on a quarterty b8si5 to discu55 the issues and risks affecting the company. The company has appropriate syslems in place to idenlify potenli31 risks and assess Ihem in tems ol likelihood and s￿nIfIcan￿. The risks are regularty monitored and ry)ntro15 are implemented in order lo mitigale any impact thal they may have on CreatNe Aris Easl. This indLtrdes a Risk Register, the content ol which is inlormed by consuttalion wilh staff. Board and extemal siakeholders and which is r￿lewed at each Board M￿ing. Creative Arts East Company Ltmited by Guarantee Trustees. annual report lincorporatlng the directors, report) (t¢%llinr*dJ Year ended 31 March 2021 Structure. governon¢e and management{¢onllnu80) Ind•pond•nt •xamin•r The inllependenl examiner. Mark P￿tor of Lovelvell 81ak& LLP, will be proposed for re-appointment al the fortFwming Annual General Meeting. 9 july 2021 The trustees, annual report and t￿ $Irateg￿ rewrt were approved on ..... ......... .............. and signed on behall ol the board of trustees by.. Max E￿ardS Twstee Creative Arts East Company Limited by Guarantee Independent examinerfs report to the trustees of Creative Arts East Year ended 31 March 2021 I report lo the ¢h3nty tru51ees on ffly examinati￿ of financial statements of the company lo( the year ended 31 March 2021 which comprise the statemenl of finanry81 actiwlEs Iincluding income and expendilure account), siaternenl ol finar￿la1 p0Srt￿n, staternenl of cash Ilows and the relaled noles. Rèspon8lbllltl•$ and ba¥18 of r•port As Ihe charity's Irustees ol the cornpany land 31s0 rts dTrre¢tors for Ihe purposes of ¢x)mpany lawl you a responsible for Ihe preparation ol Ihe finarrial slalements in accordance %wlh Ihe requirements of Ihe Companies Act 2(￿ Clhe 20C6 Act'l. Having satisfied myself that the financial statements ol th& company are nol ￿qUIred lo be audiled under Part 16 01 the Acl and are eligible lor independenl examination, I rewrt in respect of my examination ol your company's finanrial statemenls as ¢arneil out under se¢lion 145 of the charrt￿s Act 2011 I'th& 2011 Act'l. In carrying out my examinabon I have followed Ihe Directions given by th& Chaiity Commission under section 14515llbl of the 2011 Act. Ind•p•nd•nt •xamln•rf• $tst•mgnt Since the ¢harity'$ 9ross In￿Me e¥¢eeded £250.CO) ywr examiner must be a member of a body li$tod in seclion 145 of Ihe 2011 Acl. I confirm Ihat l am qualified to undertake the examination because l am a member of the Institute ol Chartered Accountants in England and Wales IICAEWI. which Is one ol the11sled bodies. I have com￿￿ted my examination. I wifim) that no matt•rs have CAJme lo ffly atten1￿ in conneclion with the &xaminalion giwng me to bel￿¥¢ thal in any m*erial respect.. aceounling records were not keF4 in ffjsFe¢l ol the cwpany as required by se¢b'on 386 01 the 2006 Act.. or the financial $taternents do not accord wilh those reccrfd5', or the financial slalements do not ￿MplY wilh the accounting ￿qUirementS ol section 396 of the 20{￿ Act other than any requ1￿ment that the accounts give a 1rue and fairf view which is not matter cOns￿ere¢ as parl of an indepen11enl examinalion,. the financial slaternenls have not been prepared in a¢¢Lxdance wrth the methods and pnnciples ol the Statemenl of Recommended Practice lor 8c¢ouniing and ￿porting by charities 8ppli¢able to charities preparing Iheir acC￿jnIS in accordan￿ with Ihe Financsal Reporting Siandard applicable in Ihe UK and Republic ol Ireland IFRS 1021. I have no ￿ncernS and h8ve come across no other matters in connection wrth the examination to whl¢h attention slK)uld be drawn in this rer*)rt in ￿le( lo enable a prO￿r understanding ol th& accounts to be reached. Mark Proctor FCA CChA Independenl Examiner Lovewell Blake LLP Chartered 8ccountsnts Bankside 3C4) Peachman Way Broadland Business Park Norwich NR7 OLB 13 July 2021 10 Creative Arts East Company Limited by Guarantee ststement of financial activities (Including income and expenditure account) Year ended 31 March 2021 2021 Restn'cled funds Totsl funds 2020 Un￿strICted ftjnds Total frjnds Not• In¢om• and endowmgnts Donalion5 and leg8ries Charilable acliwties Investment income Other income 116,545 4,124 815 57.097 116.545 254.732 815 57.097 175,*7 373,412 1,113 250.608 Total Incom• 178.581 250,608 429.189 550,492 Expendbture Charitable aclivilies 179.152 250.608 429,760 549,380 Totsl •xpfrndlturn 179.152 250,608 429.780 549,380 Nèt l•xwndltur•llJn¢om• •nd n•t movement In lunds 15711 15711 1,112 R•con¢lltatlon of lund$ Total funds brought foNYard Totsl lund• ¢arrl•d fonyard 82,8e8 82.886 61,754 82.295 82.295 82.886 The statement of financial activities Ind￿e$ all gains and losses recognised in the yè4r. All itKome and expendit¢Jre derive from continuing activit￿. The not•s on pag•s 14 to 27 fomi part of these fin•n¢i•l $t•tem•nts. 11 Creative Arts East Company Limited by Guarantee Statement of financlal positlon 31 March 2021 2021 2020 Fixed 0s•ets Tangible fixed assets Invèstments 14 1$ 36.105 14,568 37.605 16. Curr•nt Debtors Cash al bank and in hand 16 8.882 264.470 43.514 194.071 273.352 237.585 Cr¢dltors: Amounts falllng du• wlthln one y•or 17 {228.6621 1170,7871 Net curr•nt a*••ts 44,6￿j 88.798 Totsl a•¥•ts curr•nt Ilabllitl•• 82.295 82,866 N•t a$s•ts 82.295 82,866 Funds of the charlty Vnreslricted funds 82,295 82,886 Total ch*rbty fund• 19 82.295 82.886 For the year ending 31 March 2021 the Charity was entrfed lo exemption from audit under section 477 of the Companies Act 2fyJ6 relaiing lo small u)mp8nies. Directors. responsibili￿S.. The members have not r•quirod the company to c*lain an audit ol it$ financial statements for the ygar in question in a¢¢ordance with $e¢tion 476.. The directors acknowledge Ihw'r re￿[￿$1b11ltles for comptying wrth the requiremenls of Ihe Act with respect to accounting r8cords and Ihe preparation of financial slatements. These finan¢ial statements have been wepood in ¥¢o)rd¥nce wrth the provisions applicable lo ¢omp8nies Subject lo the small companies. regrme. These financial slalements were approved by the t*)ard of tn15tees and authorised for issue on 'g July'2021"" . arNJ are signed on behalf of the board by.. May E(Iward$ Trustee Company registration number.. 02960157 The not¢s on pag•8 14 to 27 fomi part ofth•sè financial statrm•nts. 12 Creative Arts East Company Limited by Guarantee statement of cash flows Year ended 31 March 2021 2021 2020 Cash Ilows from operating actlvltie• Net lexpenditure}Iincome 15711 1,112 Adjuslmenls for.. Depreciation ol tangible fixed assets Other interést receivable and similar income Accrued expensesllincome} 10.835 18151 62.651 4.955 116.8911 Changes in.. Trade and other debtors Trade and other creditors 37.361 17,5051 101,956 4,132 110,5101 118,3151 Cash generated from operation$ Intere$1 r￿)Ved Tax paid Net cash fromllu8ed inl operatin9 actrvrties 815 1,113 11481 117,3501 102,771 Ca¥h flow• from Investlng actlvft5 Purchase ol tangible assets Nel cash in investing actiwties 132.3721 132,3721 15.3531 15.3531 N•t In¢r•a8•lld•creas•l In •nd u•h •qulval•nts C•$h •nd ¢••h •quSval•nts at p￿InnIng of y•*r Cash and c••h •qulval•nt• •t •nd ol y••r 70.399 194.071 122,7031 218.774 264.470 194,071 The notss on pages 14 to 27 form ofItr￿ financial statements. 13 Creative Arts East Company Limited by Guarantee Notes to the financial statements Year ended 31 March 2021 G•n•ral inforTn•tion The charity is a public bènefrt entty and a private tt*mpany limiled by guarantee. regISte￿d in England and Wales and a registered charity in England and Wales. The address of Ihe ￿gIStered office is Dragon Hall. 115-123 King Street. NO￿th. Norfdk. NR11QE. stst•ment of compliance The charity constitutes a publi¢ benefv entty as deffined by FRS 102. The financial slatements have been prepared in accK•rdance wilh Accounting and Reporting by Charities.. Statement ol Re¢ommended Practice applicable to chanties preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic ol Ireland issued in October 2019. the Financial Reporting Standard applicable in Ihe United Kingdom and Republic ol Ireland IFRS 1021, the Charrties Acl 2011, Companw Ad 2￿ antj UK Gewally ArLeMed Attounknng Practice. Accountlng poll¢bo• 8•*l• of pr•parntlon The financial statements ha￿ been prepared M the his1or￿1 ¢osl basis. as modified by the revaluation ol cèrtain fjnanoal assets and liabilities and investment properfiès mèasured at fair valug Ihrough inwne or expendilufe. The fin8n¢ial st8lemen15 are wepaied in sterting. which the funclional cutrency ol the enlily. Golng cOn￿M The financsal statemènts have b¥en prepared on a gtyng C£sn¢em basis as the trustees believe that no material uncertainties ¢x15t. The trustees have consKlered the impact of COVID-19 in makin9 this 8ssessmenl. Fund a¢¢ountlng Unrestricted fLTrnds are availabl8 for us* al the Oisuelion of Ihe Iruslees lo further 8ny of the charity's purposes. Designated funds are unreslnded lurmls eaThnafked by the trustee5 for partrJJlar future prc¥8Ct or commrtmenl Re$lricte(1 funds are subjected to reslrichons on their expenditure declared by the donor or through the lerms ol an appeal. and fall into one ol two $ub-da$sè$". restricted In￿rne fvnd$ or endowment funds. Incom• All itKome 1$ induded in tl* 51aternenl of financial activrties when entitlement has passed to th9 ¢harity. il is pr(4)able that the economic benefits associaled wilh the transaction will flow to the ¢harrty and the amount can be reliably measured. The followng speafic policies are applied lo particular ¢alegofie$ of Income.. 14 Creative Arts East Company Limited by Guarantee Notes to the financial statements Year ended 31 March 2021 Accounting policies Icontknu Incom• iconllnu income from don8lions or grants 15 rV￿gnIsed when Ihere is evidence of enlillement lo the gift, receipt is probable and ts amount can be measured reliably - funding receiv¥d in respect of future years is $htywn as defwr8d i1￿0me at the balan￿ sh881 dal8 and recognised in the per￿1 when the relaled a¢tiwty occurs Gov•rnrn•nt grants Government gfanls are r8CO9nised using acwal rKMlel. Undèr the accwal mc4el. govefnmenl grants ￿la￿n9 lo revenue are rewnised on a $y$lem8bc basis over Ihe periods in which Ihe cornpany recognises the Telated ¢osts for which Ihe grant is intènded lo ¢)Jmpensale. Grants Ihat are receivable as compensalion for expenses or losses already incurred or for the purpose of giving immediate financial supporl to the entity with no fLrture ¥elated costs are recognise<1 in income in Ihe wriod in which it becomes receiva￿•. Exp•ndlturn Expenditure is recognised on on a￿lua15 baws as a liats.lty Is in¢urTed Expenditure Includes 8ny VAT which canr￿t be hjlly recovered. and is classif￿d under he8dings of the slalemenl ol financial ocliwties to wh￿h il relales.. expentjilure on raising funds includes Ihe ￿$1$ of all fvndrai$ing 8ctiwtie$, evenl$, non-charilable trading actiwties. and the sale ol donated g￿d$. expenditure on chariiable actiwties includes all cosis incurred by a charty in underiaking activrties Ihal further its charitable aims lor Ihe benefft ol its benefiu'aries, induding those support costs and sts rel*ing to the govgmancg of dHrity apportioned to thanlable actNib88. All costs are all(￿ated lo expendrfv￿ Categories ￿flectIng Ihe use of the resource. Dirèct costs attributable lo 8 single activity are allc¢aled direcity lo that a¢tiwty. Shafed ¢osl$ are apprO￿one￿ be￿eeTr the activities they c￿ntribUte to on a reasonable. justifiable and ¢￿sIstenI basis. Tanglbl• a•8•ts Tèngit4e assets a￿ initialty re¢orded al ￿$1, and subsequently stated at cosl le$$ any accumulated depreciation and impaiment losses Any tangible assets ￿rried at revalued amounts a￿ recorded al the lair value at the dale ol revalualion le55 any subsequent accumulated depreciation and subsequent accumulated impai￿en1 losse5. An increase in the carryiThJ amount ol an asset as a result of a fevalualion, is recc*Jnised in olhef recognised gains and losses, unless it reverses a charge for impairment that has prev￿uSIY been recognised as expenditure within the statement ol finanaal adwibes. A decrease in the carrying amount of an assel as a resurt ol r&valuation, 1$ recognised in other recognised gains and losses, except tts which rt offsets any pfevious ￿ValUat￿n gain. in wh￿h case the loss is shown within other recognised g8ins and losses on Ihe stslemenl of finan¢ial a&iwties. 15 Creative Arts East Company Limlted by Guarantee Notes to the financial statements (eoft Year ended 31 March 2021 Accounting policios {eOnlthutdJ Deprnclatlon Depreciation is ￿lCulated 50 as to wrile off the cost or valuation ol an asset, less its residual value, over the useful econornK life of thal asset as follow5.' Improvement$ to property Website Display and office equipment Cinema equipment Cornpuler equipment 33% straighl line 20% Siraighl line 33% Straight line and 21YA straight line Straight line and 33% straight line 33°A straight lirb8 InvHtments Unlisted equity investments are intlwlty recorded at CDs1. and subsequently measured at fair value. 11 lair value cannot be reli8bly me*5ured. assels are measured St cosl less impairrnent. Listed investments we measured al fair Val￿ wilh thanges in fair Val￿ bein9 rectsanised in income or expenditure. Imp•lmxnt of fix￿ ••¥•ts A review for indicators ol impairment is G8rried tyjl at èach repo￿.r￿j date. with the recoverable mount being estimated where sL￿h indicators exist. Where the cafrying valua oxceeds Ihe fecoverable amount. the asset is impaired accoidingty. Prior impairments are also reviewed for possib￿ reversal at eath rowting date. For the purpos9$ of Impaim)enl lesling. when it is not F4)sSi￿e lo estimate the fe¢overable amount of on individual asset, en estimate is matje ol the recoverable amouni ol the cash-generaling unil to whi¢h the asset belong5. The cash-generating unil is the smallest idenllfia￿e group of assels that in¢lude5 the 8ssel and generate5 cash Inflows Ihat laigety independent of the cash inflows from other as5els or groups of assets. For impairrnenl testing of goothvill, th8 goothA*ill ocquired in a bu$in8s$ ￿m￿'natIOn Is. from the acquisition date, allocated to each ol the cash-generalitvJ units thal are expecled lo benefil from the synergies ol Ihe combjnation. irrespective of whether oth¢r a$sel$ or liabilib.es ol the ¢h8rily are assigned lo Ihose unrts Flnanclal O￿truments A financial asset OT a fina￿al liabilty is recogrmsed only when the entity becomes a party lo Ihg contractual provisions ol th8 instrument. Basic financsal instrum8nts arè initialty lecogni￿ at the amount re¢eivable or paable induding any related Iransaction o)$ls. unless the arrangement ¢oftstitutes a finanung transaction. where it 15 re¢ognise(l al the p¥esent value ol the fulvre payments discounted al 8 market rale of Ir$te￿$t for a Stsmilai debt instrument. Cuirenl a$5e15 and cuTrent liabilities are 5ubsequentty ￿￿aSured at ihe cash or other consideration expecled to be paid or received and not discounted. 16 Creative Arts East Company Limited by Guarantee Notes to the financial statements (contin Year ended 31 March 2021 A¢¢ounting polic1•$ i¢onlinwd) Deflned conthbutlon plam Contributions lo define¢J conlribubon plans are fecognised as an expense in the period in which the related servti is provi(Je lor mileage exp8n$&s. 14. TangIb￿ flx•d ••s•ts Display and Improvements office Cinema CornpuleT lo property Website equipment equiprnent equipmenl Tolal Cost Al 1 Apr 2020 Addilions Disposals At 31 Mor 2021 6,022 14.859 33.296 21,387 1,989 75.564 32.372 12561 30,383 1256) 6.022 30.383 14.603 33.2 23,376 107,680 D•prèclatbon Al 1 Apr 2020 Charge for the year Disposals At 31 Mar 2021 6,022 12,513 16,241 60.996 6.077 1,8 12561 14.153 530 2,332 10,835 12561 71.575 6,022 6,077 26,750 18.573 Carrying amount At 31 Mar 2021 24,3CIS 450 4,803 36.105 Al 31 Mar 2020 7.076 5,146 14.568 Creative Arts East Company Limited by Guarantee Notes to the financial statements {¢ontrn4rrf Year ended 31 March 2021 15. Inve¥tments Othèr Investmonts C￿t or valu*tlon At l Apr 2020 Additions 1,500 At 31 Mar 2021 1.500 Impalrnient At 1 Apr 2020 and 31 Mar 2021 Carrylng amount At 31 Mor 2021 Al 31 Mar 2020 All inveslments shown above are hehy ai valuat￿n. Th&re wgre no investmenl assets o(rt$th Ihe UK. Investments (neither Iisled not unlisledl were as lolhyws 2021 2020 Peter Blake ath¥ork 1,500 16. D•btorn 2021 2020 Trade debtors Prepayments and ac¢rue(l In￿Me Other debtors 3.718 4.350 814 10,893 32,621 8.B82 43,514 17. Cr•dltor8: Amounls talllng du• wlthln on• y•ar 2021 2020 Trade credilofs Accrua15 and deferred income Social security and other iaxes Other creditors 12.806 151.769 8,160 52 217.149 6,149 228.662 170.787 21 Creative Arts East Company Limited by Guarantee Notes to the financial statements (ronfynwd) Year ended 31 March 2021 17. Cr•dltors.. Amounts falling duo within on• ye•r (Cl￿(1￿<￿￿} 2021 2020 Deferred income bmught forward Released during thè year Delerro¢J during the year Deferred income carl￿d forward 140.243 1140.2431 195.383 151.331 1151.331 140.243 195,383 140,243 Deferred incorne relates to funding rxeNeil in respect of future years. 18. P•n•lon8 and oth•r r•llr•mont b•n•flts D•finfrd ¢ontrlbutlon plan* The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £9,89212020.' £10.0721. 22 Creative Arts East Company Limited by Guarantee Notes to the financial statements (¢tinknuedJ Year ended 31 March 2021 19. Analysls of charttabl• fvnds Year ended 31 March 2021 Unrnstrlct•d funds At 1 April 2020 At31 ￿r¢h 2021 Income EX￿nIjI1yr8 Translers General lunds 82.866 178.581 1179.1521 82.295 Rmtricted fund¥ At 1 Awil 2020 At 31 M•r¢h 2021 In￿rne Expenditure Transfers CAE Deferreil Project Cambridge Rural Touring c￿0p Foundation Esmee Fairbaim Foundation Independent Ago Inn Crowtj 2 LCEP 'braries Connect Mercers (The Earl ol Northamplon Fund) NLCF. ODOWest Norfolk Operation No Cold Shoulder Promoter Developmenl RTD Ambassador ACE - SE Libraries Tourin9 Project Silver Social Spirit of 2012 Youth Music Project $2,995 6.739 {52,9951 16.7391 (1.054 8,333 5.665 20.3C 14.239 6.353 18.3331 15.6651 120.3001 (14.2391 16.3531 15.(KKJ {15.tsXII 27,797 127.7971 4,235 8.151 14.2351 18.1511 11.0031 400 2.975 53,379 21.993 14C(11 (2.9751 153.3791 {21.9931 1250.6081 250.608 23 Creative Arts East Company Limited by Guarantee Notes to the financial statements {conth•u8dJ Year ended 31 March 2021 Ye#r ended 31 March 2020 Unr••trl¢tsd funds At 1 April 2019 At31 March 2020 Income Exréndiluie Transfers General lund5 78.380 217.837 {216.7251 3.374 82.866 Re$trlcted lunth At 1 Awil 2019 At 31 March 2020 Incorne Expenditure Translers BFI Hub S and 6 BFI Musicals Catalyst Co-op Fovndalitin Esrnee Faithim Foundation Inn Crowd Inn Crowd 2 KLAO LCEP Mercers IThe Earl ol Northampton Fund) NLCF- ODO West Norfolk Operation No Cold Shouldèr Promolef Developmenl RTD Ambassador ACE - SE Libraries Touring Project Silver Soc4•1 SNDF Spirit of 2012 Youth Music Project (Xher reslrided lunds 29,538 2,435 53,329 20 129.$381 12.4351 153,3291 {201 9.376 28,539 24.￿2 1945} 17.012 {9.3761 128.5391 I24.￿2) 945 117.0121 2.188 {2.1881 28.508 128.5081 9,277 13.557 {9.2771 113,5571 Isooi 8.310 2.470 599 65.541 37.499 {8.3101 {2.4701 15991 165.5411 137,4991 3,374 13,3741 13,3741 3,374 332.655 1332.6551 BFI Hub 5 and 6 - project lunding from 8FI FAN to 5UPPOrt Ihe 8nnual ¢o$ts of communrty ¢inema scheme, induding management and license subsidy BFI Musuls - projecl funding for a speual programming Menu relaled to musicals. induding management and license subsidy Catalyst- sFecbal philanthropic fundraisin9 programmè from Arts Counal12016-191 to match-fund any privale gi*ing Ihroughwt the Ihfee year pen￿j Co-op Foundation- pxojecl lunding for fesearth into youth loneliness aL¥OSS West Norfolk Esmee Fairbaim- a thr￿year touring development proieci12017-20) SNDF- a speaal dementia-friending film programming proiect across South Norfolk Creative Arts East Company Limited by Guarantee Notes to the financial statements Year ended 31 March 2021 Inn Crowd - a three y8ar project supporbn9 INe perfomance in rural pubs 1201&191, leading to a lurther Ihree-ye8r projecl Inn Pubs +1201&221 KLAD - 2016-181 o year audience development project for West Norfolk 12017-19 - check that, rn￿h1 e Mercers- a three year prqect lo support older Feople armss Norfolk, itKluding Our Day Out and rural touring actiwty NLCF ODO Wesl Norfolk communitses ol Wesl Norfolk a h¥0 year prw lo deliver Our Day Out athity across Operation No Cold ShrwJlder- a mutti-partnor. two year ￿￿elineSS reducts.on project delivered 8UOSS parts ol Norfolk, CAE are delivering creatNe wothshops Promoter Development - a combination lund lof Internal purposes. lormed from Catalyst and Esrnee Fairbaim in¢ome rin9len¢ed for rural touring deveiopmenl a¢tivity which diversifies audiences and promoters RTD Ambassador - local lead as part of ihe NRTF Rural Touring D*n¢e Infiialive. a national Ihreg-year progr￿Me enabling more and better dar￿￿ perfO￿nanCe ac¥oss the rural touring ar¢uil ACE - SE Libranes Toufing Project - a one year research proigct, $uppNting understanding about polenlials and chall&n9es ol lourin9 Into libranes Silver Social- programming conlracl supporting Ihe Bre¢kland Ctyjwl yoiect feachinp isolalod c4der people in rural communrfies Spirit 01 2012 fvnOin9 lo deliver Ihg I￿1 Day OLrt programme of demeniia-inclusiv? creative workshops across patts of Norfdk bet4ve•n 2016-19 and contin(wd 201￿22 Youth Music Project- a three year project12017.20) training at.risk young Fe¢)ple In rural high schools to becorne community event manager5 Cambridge Rural TouriThJ an Arts Council Pl0￿Cl Grants funded partnership projecl. led by Cambridgeshire ACRE from April 2020 - March 2022. wilh the possibility of extension due to COVID delays. Tf* proie¢l will serve lo ￿Ignrte rural tourin9 Pfovision across north Cambridgeshire, supporling and enabling community volunteer gfoups lo a￿$8 lh& Creative Art$ East Live and Screen membership schemes. Independent Age - a six-monlh project. Irom Seplember 2020. supporling increased production and distribution ol thè Creative Wellbeing Postal Packs lo vulnerable res￿entS across Norfolk and Ihe wider region. This is in direct response to COVID support and recovery and use of funds may be exlended past the ￿M￿th lirneframe ¢Jepending on demand. LCEP arts Co¢Jncil fvnding and partnership inveslrnenl 10 5UPWrt the Cwrdinalion and delivery functions ol PEACH Wesl Norfolk - a Local Cultural Education Partnership across April 2020-Mar¢h 2022. The work of the LCEP. which is administered by CAE. aims to radically transform the cvltural education provision and arn￿.110nS of children and yourwJ people acros5 the Borough of KiTrg'5 Lynn and West Norfolk. Librarie5 Connect - a contract for services lo design and SUPF¥xI ￿ Event Management training fflodule for library staff arxoss Ihe counlry. 25 Creative Arts East Company Limited by Guarantee Notes to the financial statements (con*ftu•4 Year ended 31 March 2021 20. Analys58 of net assets betW￿n funds un￿$tricI8￿ Funds Restricted Totsl Funds Funds 2021 Tangible fixed assets Investments Net current assets 36.105 36.105 1.500 44.690 44.6 82.295 82,295 un￿Stn¢1ed Funds Reslricled Totsl Fund8 Funds 2020 Tangiblg 8s$et$ Investments Net current assets 14.568 14.568 1.500 66.798 06.798 82.866 82,866 21. Analy*l• of chang•* In n•t d•bt At At 1 Apr 2020 Cash flows 31 Mar 2021 C¥sh al bank and in hond 194,071 70,399 264.470 Creative Arts East Company Limited by Guarantee Notes to the financial statements Year ended 31 March 2021 22. Related parties Hero•9 Adv•rtb8lng and Pybll¢ R¢latlon• Ltd Max Edwards. trustee. Is a direclor ol Hefoes Advertising and Publ￿ Relations Ltd. During the year the following transact￿n5 took place wilh this company". 2021 Out•tanding 2020 Go￿S and semces Pufchas 3.437 656 9,191 The Gar•g• Tru¥t Llmlt•d Mari Martin. ltyslee. is a150 a Injstee ol Garage Trust ts'mrte(l. During the year the following transaction5 look pl￿e with this r￿MpanY'. 2021 Outst•ndlng 2020 Good$ and seN¢e$ wr¢hased N*tSonil Rurnl Tourbng Fowm Natslie Jode, executive tJireL#or, is also a Iruslee of Nati￿*1 Rural TouriThJ Forum. During th8 year Ihe foll$￿1ft9 Iransacbons took pki¢e with this company.. 2021 Oul•t•ndlng 2020 Goods and sem￿5 purchasfjd Goods and seMce5 sold 1.180 4,240 1.800