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2022-03-31-accounts

COMPANY REGISTRATION NUMBER 2992457 CHARITY REGISTRATION NUMBER 1046852

BEACONSFIELD

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2022

BEACONSFIELD

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

INDEX Page
Reference and Administrative Details 1
Chairman’s Statement 2
Report of the Board of Management 3
Independent Examiner’s Report 12
Statement of Financial Activities 13
Balance Sheet 14
Cashflow Statement 15
Notes to the Financial Statements 16

1

BEACONSFIELD REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022

Registered Company number

2992457 (England and Wales)

Registered Charity number

1046852

Registered office

22 Newport Street Vauxhall London SE11 6AY

Trustees

Julie Clarke Appointed 10 May 2017 Sean Dower Appointed 23 May 2013 (resigned October 2021) Peter Flack Appointed 27 September 2018 Gary Stewart Appointed 17 January 2022 Angela Weight Appointed 12 January 2018 (Appointed Chair 27 September 2018)

Company Secretary

Naomi Siderfin

Permanent staff

Anthony David Crawforth Artistic Director Naomi Siderfin Artistic Director

Independent Examiner

Faisal Khan t/a M J Golz & Co Odeon House, 146 College Road Harrow HA1 1BH

Solicitors

Traymans 139, Stoke Newington High Street London N16 0PA

Bankers CAF Bank COOP Bank

2

BEACONSFIELD CHAIRMANS STATEMENT FOR THE YEAR ENDED 31 MARCH 2022

Chair’s Report for the year April 2021 to March 2022

As the pandemic subsided in 2021, Government support through the Cultural Recovery Fund has been vital for Beaconsfield’s survival. The Gallery successfully bids for financial support in three out of the four rounds of the Fund, receiving a total of £204,734 over a three year period.

As well as protecting the Gallery’s reserves, paying for ongoing running costs and for critical maintenance of the building, such as repairs to the roof, this financial support was used to great effect to support ongoing artist commissions, and freelance gallery staff at a critical time. The Directors immediately engaged with the new online emphasis on creative activity, enforced by the pandemic by exploring the potential virtual reality of the metaverse with practitioners based at the University of the Arts London. We were applauded in the press for the dual sound installations SINK Vessel, which developed from commissioning an Iranian artist in Tehran who was unable to travel and giving him an international platform; Dr. Rachel Garfield’s trilogy of films (first commissioned by Beaconsfield ten years ago) was completed and shown in the galleries, just as she emerged internationally as an expert on punk feminist film and launched her book on the subject.[1] There has also been ongoing support for several lesser known artists working in video, sound and painting.

Also achieved in this period has been a re-invigorated relationship with the Finnish Institute to offer our third iteration of the Below Zero Finnish Art Prize, which has led to a new partnership with the Serlachius Museums in Mäntä, Finland. The work of the winner of this year’s Art Prize, Nastja Säde Rönkkö will be developed and exhibited at Beaconsfield in Winter/Spring 2023, and later exhibited at the Serlachius Museums.

In January 2022, after much discussion with the Board and Directors, it was decided to apply to the Arts Council for renewed NPO status. David Burgess of Apollo Fundraising was employed to assist in the application, the result of which will be known in November 2022. Also in January, the sound artist Gary Stewart joined the Board.

On a lighter note, the café was relaunched with a newly refurbished kitchen, including a state-of-the-art Italian coffee machine. Unfortunately, the ambitious new model of 2021 was not financially sustainable and following a rethink, the offer was simplified in 2022 to the provision of excellent coffee, tea, and homemade cakes with an emphasis on sitting outdoors under the canopy in Beaconsfield’s garden-yard, which flourished in lockdown. Our garden/café facility has been positively utilised to develop Beaconsfield’s relationship with neighbouring charity Roots and Shoots, offering supported internships in garden and café to disadvantaged young people, and a paid work placement with Frontline Lambeth.

Angela Weight Chair

22[nd] November 2022

1 Experimental Filmmaking and Punk: Feminist Audiovisual Culture in the 1970s and 1980s. Bloomsbury Academic 2022

3

BEACONSFIELD REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Governing document

Beaconsfield was incorporated as a company limited by guarantee on 21 November 1994 under a Memorandum of Association in accordance with the Companies Acts 1985 and 1989. Charitable status was awarded the company in the same year and the charity is governed under its Articles of Association.

Organisational structure

Beaconsfield is directed by a Board of Trustees, chaired in this financial year by Angela Weight. The Board meets on a quarterly basis. Day to day operational management is undertaken by founding artistic Directors David Crawforth and Naomi Siderfin who, in this period were employed part-time on PAYE under Working From Home conditions. Occasional staff, including technical, administrative, cleaning and an invigilation team, are normally engaged on a freelance basis. Active volunteers operate under the management of the artistic directors. A skeleton team was engaged in this lockdown period to maintain the garden and building.

Board of Management

The members of the Board of Management, who served or were appointed during the year ending 31 March 2022 were Julie Clarke, Sean Dower, Peter Flack and Angela Weight.

Recruitment, appointment, induction and training of new trustees

The Board of Directors (Trustees) shall never be less than three and until otherwise determined at a general meeting shall not be more than eight. New trustees are recruited and appointed by existing trustees in collaboration with the management team. In accordance with the Articles of Association, one third of the Board retire (in order of length of service) at the AGM and are eligible for re-election. New trustees are invited to make a three-year commitment, with the option of re-election.

The Trustees work with a strategy of active recruitment of new trustees to fit skills gaps in the existing trustee body and to advance the charity’s plans. Potential new trustees are identified by a member of the Board or management team on the basis of a skills audit and demonstrable interest in the organisation. Potential Trustees are invited to meet with the senior management team before meeting the trustees and observing a trustees meeting. Once formally invited to join the Board they are briefed as to their responsibilities by the Secretary and formally appointed by taking a vote at a board meeting. New Trustees sign a Trustees contract that sets out the expectation of the charity.

Induction for new Trustees/Directors includes referral to useful documents on the responsibilities of a Company Director and/or Trustee provided by Companies House and the Charity Commission. The chair remains alert to the possible need for additional training for existing trustees, through review of the board skills audit.

In this year, Sean Dower retired at the AGM and, with a view to his replacement, Gary Stewart attended in the capacity of observer and was appointed at the General Meeting of 17 January.

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BEACONSFIELD REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2022

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Risk analysis is currently part of the fabric of a board meeting at which trustees are able to cross examine the management team on the programme and decision-making process. In the event of a major capital project or radical organisational development, a formal risk register would be produced.

Related parties

The charity enters new relationships with charitable funding bodies and other organisations, local, national, and international on a project basis. Beaconsfield is regularly funded by public funds through the Arts Council National Lottery Grants and in this year, Government Cultural Recovery Funds. None of the trustees receive remuneration or other benefit from their work with the charity. Any potential professional conflict of interest for any individual that might occur is raised and discussed at a board meeting.

Objectives and Activities

The objects of the Charity are to advance public education by promoting the arts. To fulfil this objective through its own unique vision, Beaconsfield offers a space for artists and audiences to experience exceptional ('beacon') new art works in a wide range ('field') of contemporary visual art media through commissions, group exhibitions, performances, publications, and events. The trustees have considered the Charity Commission’s guidance on public benefit in approving annual plans for the activities of the charity. To achieve Beaconsfield’s vision and fulfil its charitable objectives the charity uses its powers to:

Beaconsfield's mission is to develop and deliver high quality work that contributes to the public understanding of key debates and developments in contemporary art and its cultural context.

In 1995 Beaconsfield acquired a twenty-year lease on a property formerly known as the Lambeth Ragged School and refurbished the building for Art Centre use. In 2014/15, the organisation reached agreement with Network Rail to renew the lease for a further fifteen-year period to continue its charitable activities and continue the tenure with incoming landlord The Arch Company. The venue is the artistic and administrative base for most of the charity’s activities that focus on a two-pronged mission:

5

BEACONSFIELD REPORT OF THE BOARD OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2022

Beaconsfield has a unique place in London’s cultural landscape. It is distinguished by its history of providing a forum for extraordinary events and exhibitions, stimulating passionate, candid, and robust debate about art’s production and its ideological underpinnings, as well as providing a much-

needed locus for the thriving artistic community in which it sits. Sheena Wagstaff, former Chief Curator of Tate Modern, London, currently Chairwoman, Metropolitan Museum Art, New York.

Beaconsfield’s programme has traditionally challenged prevailing models of curatorial practice, through its model of support for artists in the creation of new work and the provision of space and resources, practical and intellectual support. One of the special ways in which Beaconsfield involves the public in key debates around contemporary visual art, is through offering the benefit of public opportunities to witness the development phase of many commissioned projects – as well as the experience of a completed artwork.

The structure of the artistic programme revolves around broad project streams that, whilst not always referred to, draw attention to the pattern of long-term, practice-led enquiry and innovation that distinguishes Beaconsfield’s activity from comparators:

Public benefit

The trustees have paid due regard to the Charity Commission’s guidance on public benefit, and our charitable objects and aims in deciding what activities the organisation should undertake. The artistic programme is described below and was supported by discursive events that are integral to our relationship with our audience. As we emerged from lockdown, this year we were able to conduct two online discussions in the Metaverse with ArtsXR and Jin Han Lee, and fully booked public discussions about art collecting with The Collective, and about punk and feminism with academics Rachel Garfield and Gavin Butt. Our programme attracts arts professionals and academics and people interested in Beaconsfield’s role as a primary research vehicle that informs the practices of making art and curating, as well as people from our local community. A reivigorated relationship with local charity Roots and Shoots, led to regular student visits over the year and two supported internships: one in the café and one in the garden. Beaconsfield also supported a paid work placement as part of Frontline Lambeth in collaboration with the Old Vic Theatre.

6

BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2022

Public Benefit – Artistic Programme

Despite the international crisis of Covid19, Beaconsfield’s activity in 2021 continued to reflect our core functions through commissions and residencies involving moving image, painting, sculpture, performance, sound and photography. As we emerged from lockdown in 2022, our identity as a discursive public forum was reinforced through extending our programme to online platforms. Our strength as a primary research vehicle was developed through building relationships with artists invited to use the gallery site ‘in residence’ whilst we were closed to the public, opening again in June 2021 alongside a new onsite coffee shop. The programme is summarised below.

Past Present Ioana Marinescu

In residence 23 March – 9 April 2021 with guests

Past Present ( B_T5: ) was series of performative actions tested as modalities of bringing the archive to life through movement and everyday objects. In a three-week Beaconsfield residency Marinescu collaborated with Hanna Gillgren, of H2Dance, to develop her research on the various spaces of memory. The charged space of Beaconsfield Gallery, a former school cut in half by an expansion of the railway, resonated with Marinescu’s exploration of erasure and power structures. The project has been developed in 2022 in Bucharest and will return to Beaconsfield for a London exhibition in 2023.

Past Present research and development was originally commissioned by Beaconsfield in conjunction with the DCMS Cultural Recovery Fund, and supported by the Romanian Cultural Institute, London and Romanian National Cultural Fund.

B_T5: Extended Reality

Jin Han Lee

In residence 17 May–16 July, exhibition continued until 6 November

South Korean artist Jin Han Lee took up residence in Beaconsfield’s Upper Gallery space during lockdown, to make new paintings and–in the same time frame–explore the possibilities offered by immersive online environments in creative collaboration with the digital collective artsXR. This experimental exchange of practices enabled artsXR to work closely with an established artist and gallery to explore perspectives on art practices in the metaverse of ‘virtual reality’, exploring immersive technologies and the emergent art economies of Non Fungible Tokens (NFTs).

Beaconsfield re-opened its galleries to the public on 2 June, held two online discussions in the ‘Metaverse’ and benefitted from two commercial painting sales.

UNWRAP! The Collective 10-13 November 2021

A week in collaboration with the The Collective, a private consortium of individuals investing collectively in contemporary artworks. A performative public display of their private collection culminated in a talks event that explored this innovative form of collecting art. The event provided a training opportunity for young people in Lambeth Frontline and Roots and Shoots.

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BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2022

Monica Oechsler

Sometimes Everything is Forever Online from 27 October 2021

The second in a diptych of short films by Monica Oechsler exploring bunker mentality in the context of lockdown. Commissoned by Beaconsfield for online viewing during the global pandemic of Covid19 in conjunction with the DCMS Cultural Recovery Fund.

Rachel Garfield

The Struggle 10 November 2021–29 January 2022

‘The Struggle’ is a trilogy of three video works commissioned by Beaconsfield and developed with a range of partners over a ten-year period. The films were made in different regions of England, exploring the impact of familial interactions on the formation of subjectivity. The springboard for each of the films are interviews conducted with people whose parents were either political activists, military personnel, or practising Catholics respectively. The three films, ‘The Straggle’ (2012), ‘Opening Up’ (2015) and’ A Glimpse’ (2019) were exhibited together for the first time and explore generational, familial, ideological political and social shifts between the mid to late 20th century and the early 21st century, as a negotiated and lived experience.

Beaconsfield launched Garfield’s book Experimental Filmmaking and Punk: Feminist Audio Visual Culture in the 1970s and 80s, published by Bloomsbury, with a public discussion moderated by Professor Gavin Butt of Northumbria University. The exhibition toured to Lincoln Project Plus, in collaboration with University of Lincoln.

TEGH + BAW Sink_Vessel 16 February –7 May 2022

‘Sink’ is the soundwork commissioned by Beaconsfield during lockdown (See B_T4 in 2021) that explores Shahin Entezami’s (aka Tegh) personal experience of contracting the early, unvaccinated version of the virus and offers a narrative of the global pandemic from his home city of Tehran. ‘Vessel’ is a response to Entezami’s recording by David Crawforth & Naomi Siderfin (aka BAW) from London. The two works were exhibited as sonic installations open to the public and recorded on a limited edition vinyl for sale. The exhibition was reviewed favourably by Seb Patane in the music industry magazine The Wire.

Public Benefit

Beaconsfield’s discursive events are integral to our relationship with our audience, attracting arts professionals and academics and people interested in Beaconsfield’s role as a primary research vehicle informing the practices of making art and curating. As we emerged from lockdown, this year we were able to conduct two online discussions in the Metaverse with ArtsXR and Jin Han Lee, and fully booked public discussions about art collecting with The Collective, and about punk and feminism with academics Rachel Garfield and Gavin Butt. A reivigorated relationship with local charity Roots and Shoots, led to regular student visits and two supported internships: one in the café and one in the garden.

8

BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2022

Organisational Development

In this year, the organisation has taken action to restore its public programme following the global pandemic and a series of lockdowns. Funding applications have been made for capital expansion and regular fixed term public funding. Going forward the organisation will vigorously promote Beaconsfield as a national centre for the research and development of contemporary art.

Beaconsfield has been historically cited as the pioneer of the cultural quarter in North Lambeth, supported by both the landlord Network Rail and the local Vauxhall’s BID (Business Improvement District). The charity is geographically located within the biggest regeneration site in Europe: Battersea/Nine Elms/Vauxhall. Beaconsfield is an established cultural provider in Vauxhall and its creative work with artists and audiences have served to pave the way for other cultural providers coming into the area, such as Newport Street Gallery, Cabinet Gallery and Matt’s Gallery.

Digital Expansion

The organisation regularly increases the volume of artists’ work available through broadcast and internet through digital commissions, the publishing of original e-texts, audio files documenting public talks, radio broadcast and digital documentation of current projects. Marketing through social media continues to play a strong role with greatly expanded followers in 2022.

Sustainability and Carbon Footprint

Beaconsfield’s global sustainability agenda has been a trailblazer in the visual arts sector, using ‘green energy’ exclusively since 2000 to power the organisation. Organisational carbon footprint has traditionally been low due to this long-term commitment. Various recycling methods and greening structures on site are symbiotically linked together, improving the nature of the public outdoor space and nurturing another green lung for Vauxhall. Board and management continue to prioritise sustainability and environmental awareness.

Plans for the Future

Beaconsfield’s aim and artistic direction continues to be the positive re-definition of the way in which people relate to art and we aim to provide a reflective space in which people can adjust their perspective through the original ways in which we deliver art. In our commissioning process, we work with artists from inception to completion in the realisation of their vision and focus all Beaconsfield’s resources on them throughout the course of the project. Often, we offer them custodianship of one of our gallery spaces for a residency period. Crucially, we support and encourage the artists we work with as well as challenge and stimulate. Together we have found these factors to be an empowering force for artists, enabling them to stretch themselves, evolve their ideas and break new ground. Increasing the reach of Beaconsfield’s work through publication and the dissemination of current projects (through touring, online activity and off-site projects) is complemented by an ambition for making the archive more accessible, creating more opportunities for audiences to make contact with the charity beyond the building–regionally, internationally and virtually.

Organisational Objectives

Our ambition is to increase awareness of Beaconsfield as a national centre for the research and development of contemporary art. Diversifying income to the charity continues to be a priority. Our ambition is to increase awareness of Beaconsfield as a national centre for the research and development of contemporary art.

9

BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2022

Financial Review of the Year

A detailed review of the charity’s activities has been given in the Management Report on pages 13 to 15 with notes to the accounts on pages 16 to 26.

Principal funding sources

During the year, Beaconsfield used £81,855 which is half of the grant received from Art Council to pay for the Unrestricted expenses such as staff salaries, rent, and repair cost.

Artistic activity in 2021/22 was enabled through local Covid Emergency funds and the government’s national Cultural Recovery Funds. Goodwill, through in-kind human resources, continues to play a vital role in sustaining Beaconsfield's activity.

The net marginal gain for the year was £74,070. The resulting balances carried forward into 2022/23 are £108,524 in unrestricted funds and £99,368 in restricted funds.

Self-Generated Income

Self-generated income from venue hire were £17,917 and from Cafe were £9,526.

Sale of Artwork £6,433 to PM/AM Gallery Ltd.

Donations/Collection

Beaconsfield’s programme benefits from occasional donations with a regular donation that has enabled the development of our bi-annual Finnish Art Prize.

Fraternise, the artists donations scheme launched in 2005, was developed by extending the scheme from donations with an online presence to occasional exhibitions of invited artists. We currently estimate the collective asset value of the collection to be £19,050

Reserves

The charitable company’s total funds increased by £74,070 during the year.

The Unrestricted funds are now represented by £34,812 of Tangible Fixed Assets, leaving a balance of £73,712 in net current assets.

Restricted reserves increased by £72,143 with £4,047 in Fixed assets and £68,096 in net current assets. The Board will continue to follow a practice that all new projects must be pre-financed by grants, awards and/or specific donations.

The charitable company seeks to achieve a level of free reserves which would cover all liabilities, including the potential cost of winding up the company if such circumstances were applicable. The trustees believe that an adequate level of free reserves is between £40,000 and £60,000.

Investment strategy

It is the policy of the trustees to use any surplus funds for the advancement of the charity's objectives. Our investment strategy is conservative and surplus monies are placed in easily accessible deposit accounts with COOP and CAF. No stock exchange investments are maintained. The Board review the investment policy on a periodic basis.

10

BEACONSFIELD REPORT OF THE BOARD OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2022

Statement of responsibilities of the Board of Management

The members of the Board of Management are directors for the purposes of company law and trustees for the purposes of charity law. They are responsible for preparing the Board of Management’s Report and the financial statements in accordance with applicable law and regulations. The Board of Management’s members have no financial interest in the charitable company.

Company law requires the Board of Management to prepare financial statements for each financial year. Under that law the Board of Management have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Board of Management must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company at the end of the year and of the incoming resources and application of resources, including the income and expenditure, for that period. In preparing those financial statements, the Board of Management is required to:

The Board of Management is responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Board of Management is 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 Board of Management are aware:

11

BEACONSFIELD REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2022

Auditors

A resolution to appoint Faisal Khan as independent examiner for the ensuing year will be proposed at the Annual General Meeting.

The Board of Management confirms that to the best of their knowledge and belief these financial statements comply with the requirements of the Statement of Recommended Practice “Financial Reporting Standard”, issued July 2014.

In approving the Trustees' Annual Report, the Board of Management also approve the Strategic Report included therein, in their capacity as company directors.

Registered Office:

BY ORDER OF THE BOARD:

22 Newport Street Vauxhall London SE11 6AY

Angela Weight Chair

22[nd] November 2022

I report on the accounts for the year ended 31 March 2022 set out on pages 13 to 26.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors for the purposes of company law) are responsible for

12

BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2022

the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements

  2. to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and

  3. to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Faisal Khan FCCA

22[nd] November 2022

13

BEACONSFIELD STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 March 2022

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Total income and endowments
Expenditure on:
Raising funds
6
Charitable activities
7
Governance Costs
8
Total expenditure
Net income / (expenditure)
Transfers between funds
Other recognised gains / (losses)
Net movement in funds
14
Reconciliation of funds:
Total funds brought forward
14
Total funds carried forward
14		 Unrestricted
funds
Restricted
funds
2022
Total
Unrestricted
funds
Restricted
funds
2021
Total
£
£
£
£
£
£
1,361
-
1,361
1,854
-
1,854
105,855
81,856
187,711
142,712
-
142,712
27,443
6,433
33,876
23,002
-
23,002
11
-
11
15
-
15
134,670
88,289
222,959
167,583
-
167,583
23,603
-
23,603
20,846
-
20,846
102,484
9,921
112,405
89,957
-
89,957
6,656
6,225
12,881
10,270
-
10,270
132,743
16,146
148,889
121,073
-
121,073
1,927
72,143
74,070
46,510
-
46,510
-
-
-
-
-
-
-
-
1,927
72,143
74,070
46,510
-
46,510
106,597
27,225
133,822
60,087
27,225
87,312
108,524
99,368
207,892
106,597
27,225
133,822

All income and expenditure derive from continuing activities. All gains and losses recognised in the year are included above. The notes on pages 16 to 26 form part of these financial statements.

14

BEACONSFIELD BALANCE SHEET AS AT 31 March 2022

Note
Fixed assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one year
12
Net current assets / (liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than one
year
Net assets / (liabilities) excluding pension liability
Defined benefit pension liability
Net assets / (liabilities)
Charity Funds
Unrestricted funds
14
Restricted funds
14
Total charity funds / (deficit)
14		 2022
£
38,859
16,781
167,088
183,869
(14,836)
169,033
207,892
-
207,892
-
207,892
108,524
99,368
207,892		 2021
£
35,830
30,780
84,122
114,902
(16,910)
97,992
133,822
-
133,822
-
133,822
106,957
27,225
133,822

The consolidated financial statements were approved by the Board of Management on 22[nd] November 2022 and are signed on its behalf by:

Angela Weight, Chair

The notes on pages 16 to 26 form part of these financial statements.

15

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

CASHFLOW STATEMENT
Note
Operating Activities
Net cash flow from operating activities
18
Cash flow from investing activities
Payments to acquire tangible fixed assets
Receipts from sales of tangible fixed assets
Payment Due for Credit Card
Interest received
Net cash flow from investing activities
Cash and cash equivalents as at 1 April 2021
Cash and cash equivalents as at 31 March 2022
Cash and cash equivalents consist of:
Cash at bank and in hand		 2022
2021
£
£
Total
Total
94,528
64,430
(11,573)
(11,960)
11
15
82,966
52,485
84,122
31,637
167,088
84,122
167,088
84,122

The notes on pages 16 to 26 form part of these financial statements.

16

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a) General Information and basis of preparation

Beaconsfield is a charitable company in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to deliver high quality work that contributes to the public understanding of key debates and developments in contemporary art.

The charity constitutes a public benefit entity as defined by FRS 102. The consolidated financial statements have been prepared in accordance with 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) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 14 to the financial statements.

The nature and purpose of each fund is explained further in the notes to the financial statements.

c) I ncome and Expenditure

Income includes grants, donations, hire fees, education activities, special events, and bank interest receivable, excluding value added tax. Donations, grants and other forms of voluntary income or benefit are recognised when the charity has entitlement to the income, when it is more likely than not to be received and the amount can be measured reliably. All other income is recognised on a receivable’s basis.

Expenditure is accounted for on an accrual’s basis, inclusive of VAT where this cannot be recovered. Certain expenditure is directly attributable to specific activities and has been allocated to those cost categories. Other expenditure is allocated between raising funds and charitable activities in accordance with the requirements of the Statement of Recommended Practice.

17

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

The charitable company is grateful for the input of all its volunteers who are involved in the general activities of the charitable company. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Governance costs relating to the public accountability of the charitable company and its compliance with regulation and good practice are included in other costs. These costs include those relating to the independent examination.

d) Fixed Assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Items costing less than £1,500 are not capitalised.

Depreciation of fixed assets is provided at rates to write off the cost or revalued amount, less any estimated residual value, of each asset over its expected useful life, as follows:

All assets 25% per annum on a reducing balance

Assets during construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the Statement of Financial Activities.

e) Impairment of fixed assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, because of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Financial Activities. Minor maintenance works are not considered to impair the value of the asset.

f) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

g) Pensions

The charitable company operates a defined contribution pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the Charity in independently administered funds. The annual contributions paid to the scheme are charged against income in the year to which they relate.

18

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

h) Tax status

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

i) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern.

19

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. INCOME FROM DONATIONS AND LEGACIES


Donations
3. INCOME FROM CHARITABLE ACTIVITIES
Grants Received - Arts Council
London Borough of Lambeth
Grants Received - Arts Council & London Co.
Other Income from Charitable Activities
4. INCOME FROM OTHER TRADING ACTIVITIES
Occasional hires
Exhibition, Bar and other sales
Furlough Grant Received
Occasional hires
Exhibition, Bar and other sales
Lambeth Council Rates reduction

Donations		 Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
1,361
-
1,361
1,361
-
1,361
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
81,855
81,856
163,711
24,000
24,000
105,855
81,856
187,711
Unrestricted
Funds
Restricted
Funds
Total 2021
£
£
£
109,784
-
-
32,928
-
-
142,712
-
-
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
17,917
-
17,917
9,526
6,433
15,959
-
27,443
6,433
33,876
Unrestricted
Funds
Restricted
Funds
Total 2021
£
£
£
2,498
-
2,498
1,285
-
1,285
19,219
-
19,219
23,002
-
23,002
Unrestricted
Funds
Restricted
Funds
Total 2021
£
£
£
1,854
-
1,854
1,854
-
1,854		 Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
1,361
-
1,361
1,361
-
1,361
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
81,855
81,856
163,711
24,000
24,000
105,855
81,856
187,711
Unrestricted
Funds
Restricted
Funds
Total 2021
£
£
£
109,784
-
-
32,928
-
-
142,712
-
-
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
17,917
-
17,917
9,526
6,433
15,959
-
27,443
6,433
33,876
Unrestricted
Funds
Restricted
Funds
Total 2021
£
£
£
2,498
-
2,498
1,285
-
1,285
19,219
-
19,219
23,002
-
23,002
Unrestricted
Funds
Restricted
Funds
Total 2021
£
£
£
1,854
-
1,854
1,854
-
1,854
27,443
6,433
33,876
Unrestricted
Funds
Restricted
Funds
Total 2021
£
£
£
2,498
-
2,498
1,285
-
1,285
19,219
-
19,219
23,002
-
23,002

20

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

5. INCOME FROM INVESTMENTS

Interest Receivable
Interest Receivable		 Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
11
-
11
Unrestricted
Funds
Restricted
Funds
Total 2021
£
£
£
15
-
15

6. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS

Purchases
Exhibition Staff
Publication and marketing		 2022
2021
£
£
4,621
627
16,509
17,948
2,473
2,271
23,603
20,846

In 2022 £23,603 (2021: £20,846) of the above costs were attributable to unrestricted funds and £0 (2021: £0) of the above costs were attributable to restricted funds.

21

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

7. CHARITABLE ACTIVITIES COSTS

Direct Charitable Expenditure comprises:

Wages and salaries
Social Security costs & Pension
Casual Labour/Additional Staff
Rent, Rates and Water
Insurance
Light and Power
Telephone
Postage and Stationery
Sundries
Repairs and Maintenance
Bank Charges
Exhibition Materials
Artists and Curatorial Fees
Travelling
Equipment Expense
Computer costs
Depreciation - Short Leasehold
Depreciation - Plant and Machinery
Depreciation - Fixtures and fittings
Depreciation - Computer Equipment
Support costs		 2022
2021
Unrestricted
Funds
Restricted
Funds
Total
2022
£
£
£
16,566
16,566
16,566
620
620
620
20,854
9,921
30,775
6,566
31,042
31,042
18,689
1,944
1,944
1,670
5,583
5,583
1,313
637
637
635
2
2
307
171
171
246
10,474
10,474
32,154
168
168
79
936
936
-
100
100
2,525
298
298
-
2,986
2,986
2,582
1,559
1,559
400
1,722
1,722
2,408
3,656
3,656
371
2,901
2,901
2,708
265
265
118
-
-
-
102,484
9,921
112,405
89,957

In 2022 £102,484 (2021: £89,957) of the above costs were attributable to unrestricted funds and £9,921 (2021: £0) of the above costs were attributable to restricted funds.

8. GOVERNANCE COSTS

Accountancy
Independent examination fee
Consultancy Fee
Other legal and professional		 2022
2021
Unrestrict
ed Funds
Restricted
Funds
Total 2022
£
£
£
2,520
2,520
2,520
250
250
200
2,750
6,225
8,975
7,550
1,136
1,136
-
6,656
6,225
12,881
10,270

22

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. STAFF REMUNERATION AND NUMBERS

Wages and salaries
Social Security Costs		 2022
2021
£
£
33,075
33,132
-
-
33,075
33,132

The average monthly number of employees during the year was 2 same as previous year (1 full time equivalent) (2021: 2). No member of the Board of Management received any remuneration or reimbursement of expenses.

The key management personnel of the charitable company comprise the Board of Management and the Artistic Directors. The Trustees do not consider it appropriate to disclose any individual’s salary for the purposes of these accounts.

10. FIXED ASSETS

Short Works of Plant and Fixtures & Computer Total
Leasehold Art Machinery Fittings Equipment
£ £
COST or £
VALUATION
At 1 April 2021 174,258 19,050 26,952 41,359 4,220 265,839
Additions/ - - 6,765 4,047 761 11,573
(Disposal)
At 31 March 174,258 19,050 33,717 45,406 4,981 277,412
2022
DEPRECIATION
At 1 April 2021 167,033 - 25,875 33,233 3,868 230,009
Charge for the 1,722 - 3,656 2,901 265 8,544
year
At 31 March 168,755 - 29,531 36,134 4,133 238,553
2022
NET BOOK
VALUES
At 31 March 5,503 19,050 4,186 9,272 848
 38,859
2022
At 31 March 7,225 19,050 1,077 8,126 352 35,830
2021

23

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

11. DEBTORS

2022 2021
£ £
Trade Debtors - 3,059
VAT 8,840
Prepayments and other debtors 16,781 18,881
16,781 30,780
12. CREDITORS: Amounts falling due within one year
2022 2021
£ £
Bank Loans and overdrafts - -
Trade creditors 13,290 14,631
Other taxes and social security 814 583
Other Creditors 655 1,696
Accruals and Deferred income - -
VAT 77
14,836 16,910

13. SHARE CAPITAL

The charitable company is a company limited by guarantee and therefore has no share capital.

24

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

14. NET MOVEMENT IN FUNDS

Unrestricted Funds
General Fund
Art Council
Restricted Funds
Apollo Fundrasing
Ellis Parkinson
Fran Painter - Fleming
Anna Jochymek
Caroline Harris
Knowledge Grab
Art Council
PM/AM Art Gallery		 Balance 1
April 2021
Income
Outgoings
Transfers
Balance
31 March
2022
£
£
£
£
£
106,597
52,815
(132,743)
-
26,669
81,855
81,855
108,524
(3,300)
-
(3,300)
(2,862)
-
(2,862)
(2,731)
(2,731)
(4,328)
(4,328)
(525)
(525)
(2,400)
(2,400)
(16,146)
(16,146)
27,225
81,856
-
109,081
6,433
6,433
99,368
133,822
222,959
(148,889)
-
207,892

The Arts Council of England Variegated project included funding for local, national, and international commissions. Beaconsfield's curatorial ambition was to contrast, via a sequence of exhibitions, a diverse range of artists from different backgrounds at critical moments in their careers. This funding allowed Beaconsfield to encourage artists and audiences to develop real dialogues through political observation, social activity, and aesthetic language.

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS


Unrestricted Funds
Restricted Funds		 Tangible Fixed
Assets
Net Current
Assets
Total
£
£
£
34,812
73,712
108,524
4,047
95,321
99,368
38,859
169,033
207,892

25

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

16. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

There were no capital commitments or contingent liabilities at 31 March 2022 (2021: £Nil).

17. PENSIONS

The Charity also operates a defined contribution pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the Charity. As at 31 March 2022 there were £120 outstanding contributions (2021: £120).

26

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

18. RECONCILIATION OF NET MOVEMENT IN FUNDS

Net income / (expenditure) for year / period
Investment Income
Depreciation of tangible fixed assets
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash flow from operating activities		 2022
2021
£
£
£
£
£
£
Unrestricted Restricted
Total
Unrestricted Restricted
Total
1,927
72,143
74,070
46,510
46,510
(11)
-
(11)
(15)
-
(15)
8,544
-
8,544
5,605
-
5,605
13,999
-
13,999
(1,664)
-
(1,664)
(2,074)
-
(2,074)
13,996
-
13,996
22,385
72,143
94,528
64,430
64,430