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2023-03-31-accounts

COMPANY REGISTRATION NUMBER 2992457 CHARITY REGISTRATION NUMBER 1046852

BEACONSFIELD

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2023

BEACONSFIELD

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

INDEX Page
Reference and Administrative Details 1
Chairman’s Statement 2
Report of the Board of Management
4
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 2023

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 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 2023

Chair’s Report for the year April 202 2 to March 2023

The year’s artistic programme was characterised by international collaborations with artists from several different countries, among them Iran, Sweden, Norway, Finland and the UK.

– 16 February 7 May 2022

‘Sink’ was the soundwork by Tehran -based artist Shahin Entezami (aka Tegh) commissioned by Beaconsfield during lockdown (See B_T4 in 2021) in response to the pandemic. ‘Vessel’ was a sonic response to Entezami’s composition by our co -artist-directors David Crawforth & Naomi Siderfin (aka BAW). The two works were exhibited as sound installations in the gallery recorded on a limited-edition vinyl. The exhibition was favourably reviewed in the music industry magazine The Wire .

11 June – 10 September 2022

Researched and co-curated by Minna Haukka of Feminist Library and Naomi Siderfin and David Crawforth of Beaconsfield, Monica Sjöö The time is NOW and it is overdue! comprised the loan and exhibition of 52 paintings, eight drawings and two videos, accompanied by a three-month long participation programme of events. With this project Beaconsfield, in collaboration with the Feminist Library, created opportunities for 28 artists and writers from Norway, Sweden, Finland and UK. This influential exhibition was the precursor of a retrospective of Sjöö work at the Moderne Museet Stockholm and at Modern Art Oxford (2023); a show of her drawings at Drawing Room, London; and (forthcoming in 2024) at Alison Jacques Gallery London, who also now represent the artist’s estate.

6 October – 3 December 2022

A Beaconsfield Commission by Mark Fell created two new kinetic, interactive installations and a limitededition print. The exhibition was enhanced by the international collaboration of young musicians Rian Traynor (Sheffield) and Ocen James (Kampala) who delivered sensory workshops for young people (1624) with SEN and a flute-making workshop for an adult audience.

23 January – 16 March 2023

The winner of the third iteration of the Below Zero Finnish Art Prize, Nastja Säde Rönkkö, took up her mentored residency with Beaconsfield at the end of January to produce a poetic text, a three-screen video installation and a series of sculptures; employing students from Slade School of Fine Art, professional actors and previous professional collaborators to generate filmic material shot on location in London. The final work salt in our blood, in our sweat, in our tears opened at the gallery to the London public on 17 March. The piece will be shown by Beaconsfield’s new partner organisation, the Serlachius Museums in Finland in 2024.

Phoebe Collings-James started as our Environmental artist in residence in March 2023. Phoebe led several workshops with families as part of The Wild Escape, a nation-wide environmental collaboration between museums and galleries and families, supported by Arts Council England and a variety of Trusts, coordinated by Art Fund and Museum Development London.

Management

Two part-time members of staff left for new positions at the start of the year, Fran Fleming-Painter (to a curatorial position at Goldsmith’s Gallery, University of London) and Anna Jochymek (to a post -doctoral research position at Roehampton University). While we were sorry to lose them after several years’ service, we were proud of their progress in developing successful careers in the arts.

3

BEACONSFIELD CHAIRMANS STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

Fran and Anna have not been replaced as such, but Ellis Parkinson, a Gallery Assistant who has been with us since 2020, has taken on more responsibility and Ella Joy Nelson joined when Anna left. Ellis and Ella field venue hire and marketing between them.

Beaconsfield continued to collaborate with neighbouring charity Roots and Shoots, to support internships for disadvantaged young people, and with the Old Vic to support a paid work placement with Frontline Lambeth in 2022/23.

Luana Duvoisin Zanchi, an artist and highly qualified art teacher at a south London secondary school was recruited to join the Board in the new financial year.

Angela Weight Chair

14[th] December 2023

4

BEACONSFIELD REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2023. 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, are employed part-time. 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.

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, 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 for one further term.

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, Luana Duvoisin Zanchi attended a board meeting in the capacity of observer with a view to appointment in the new financial year.

5

BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2023

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 in frequent receipt of public funds through the Arts Council National Lottery Project Grants, and infrequent funds from various Trusts, Foundations and donors. 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 the full 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 tendencies 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 Arch Company. The venue is the artistic and administrative base for most of the charity’s activities, that focus on a two -pronged mission:

6

BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2023

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. Our programme in 2023 attracted arts professionals and academics and people interested in Beaconsfield’s role as a primary research vehicle, which informs the practices of making art and curating, as well as people from our immediate locale.

A reinvigorated relationship with local charity Roots and Shoots, led to regular student visits over the year and as well as supported internships. Beaconsfield also supported a paid work placement as part of the Frontline Lambeth, an initiative for young people not in education, employment or training (NEET) in collaboration with the Old Vic Theatre. The core exhibition programme is summarised below:

7

REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2023

BEACONSFIELD

– TEGH + BAW, Sink_Vessel, 16 February 7 May 2022

A lockdown commission funded through the DCMS Cultural Recovery Fund enabled Iranian artist Shahin Entezami (aka Tegh) to respond to his personal experience of contracting the early, unvaccinated version of the Covid19 virus, and through electronic sound convey an impression of the global pandemic from Tehran. ‘Vessel’ was the London response to Entezami’s sonic composition by artist -directors David Crawforth & Naomi Siderfin (aka BAW).

Monica Sjöö The time is NOW and it is overdue! 11 June-10 September 2023. Co-curated by Beaconsfield and the Feminist Library in partnership with Womens Art Library and funded by Arts Council England National Lottery Projects, Kone Foundation, Konstnärsnämnden (the Swedish Arts Grants Committee), Nordic Kulturfond, Embassy of Sweden, Finnish Institute of UK and Ireland and TelepART.

A retrospective exhibition with works loaned by the Estate of Monica Sjöö, provided the stimulus for seven workshops, eight performances, three reading groups, one symposium, two new video works screenings and one gallery talk: all responses by living artists and writers to the work of late Swedish painter, writer, and radical eco- feminist Monica Sjöö. With this project Beaconsfield, in collaboration with the Feminist Library, created opportunities for 28 artists and writers from Norway, Sweden, Finland and UK: Sally Pomme Clayton, Katy Deepwell, Rachel Fallon, Caitlin Fleming, Rachel Garfield, Una Hamilton Helle, Minna Haukka, Harriet Hill, Sam Hodge, Islaja, Annie Johnston, Kara Keeling, Alexandra Kokoli, Kristin Luke, Nad Ma, Bindu Mehra, Liz Murray, Maggie Parks, Fran Painter Fleming, Linda Persson, Raju Rage, Anne Robinson, Anita Slater, Tansy Spinks, Atau Tanaka, Tears|Ov, Rupert White, Linsey Young.

Mark Fell, Systemic Peripheralism , 6 October - 3 December 2022.

Funded by Arts Council England National Lottery Projects, a Beaconsfield Commission by Mark Fell was exhibited as two interactive installations in the main galleries. The commission included participatory workshops with young musicians Rian Traynor (Sheffield) and Ocen James (Kampala), a limited-edition print and a vinyl record produced by Beaconsfield.

– Nastja Sade Rönkkö, salt in our blood, in our sweat, in our tears , 23 January 6 May 2023 The third iteration of Beaconsfield’s bi -annual Below Zero Finnish Art Prize 2023, residency and exhibition, was delivered over this financial year in collaboration with the Finnish Institute of UK and Ireland, the Mirisch & Lebenheim Charitable Foundation and a new international partner; Serlachius Museums, Finland. The extensive process of artists’ call and selection began in February and the winner selected in June 2022: the artists’ Beaconsfield residency took place January -March 2023 with an exhibition opening on 17 March.

The winning artist Nastja Säde Rönkkö made a three screen video installation with sculptures in collaboration with Beaconsfield and a team including: sound composer Mikko Maijala, cinematogapher Aake Kivalo, photographer Luke Turner, film editor Heli Kota, colourist Hannu Kāki, actors Jessica Luostarin and Emma James, and art students Phoebe Russell, Ho-sa Wang and Jane Wu recruited by Beaconsfield from Slade School of Fine Art. The production was further supported by Stephen Bailey of NHS Blood and Transplant, Will Bradshaw of Genesis equipment hire, Anna Bunting-Branch and Gavin Weber of Weber Industries, Javier Weyler of 5dB, AVEK for scriptwriting support, Elizabeth Feoshi, Emma Ikävalko, Rebecca James, Jamila Johnson-Small, Anna Jochymek, Karoliina Korpilahti, Alec Kronacker, Onya McCausland, Rosaliina Paavilainen, Ellis Parkinson, Aava Susi, Damian Taylor, Caroline Todd, Alison Wright and our partners the Finnish Instiute in Uk + Ireland and Serlachius Museums Finland.

8

BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2023

Organisational Development

Strategic planning was characterised by two high stakes major funding applications for programme and capital both submitted in May 2023: to Arts Council England in a bid to re-join the National Portfolio, and to London Borough of Lambeth’s Future Workspace Fund. Both of which were unsuccessful. However, the extensive work put into both applications was not wasted and supported organisational strategic thinking and programming.

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 continued to play a strong role with greatly expanded followers in 2022/233.

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 and Organisational Objectives

Beaconsfield’s artistic direction continues to strive for the positive re -definition of the way in which people relate to art. 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.

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 2023

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

Raising funds via self-generated activities such as corporate hire and café income has been limited postpandemic, as people have been slow to return to public life. The charity has seen a drop to £ 29,249 in unrestricted income. Artistic activity in 2022/23 was enabled through a combination of public and private funds as detailed above; with incoming funds from sources in Sweden, Norway and Finland as well as the UK. In-kind human resources from the co-directors, continues to play a vital role in sustaining Beaconsfield’s activity.

The net marginal loss for the year was (£50,511). The resulting balances carried forward into 2022/23 are £24,538 in unrestricted funds and £132,843 in restricted funds.

Self-Generated Income

Self-generated income from venue hire was £9,463 and from Cafe £8,384.

Donations/Collection

Beaconsfield’s programme benefits from occasional donations and a generous 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 decreased (£ 50,511) during the year. The Unrestricted funds are now represented by £32,896 of Tangible Fixed Assets, leaving a balance of (£8,358) in net current assets.

Restricted reserves increased by £132,843 with £6,711 in Fixed assets and £126,132 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.

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 laws and regulations. The Board of Management’s members have no financial interest in the charitable company.

10

BEACONSFIELD

REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2023

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 2023

Auditors

A resolution to appoint Faisal Khan as an 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 in July 2014.

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

Registered Office: 22 Newport Street Vauxhall London SE11 6AY

BY ORDER OF THE BOARD:

Angela Weight Chair

14[th] December 2023

I report on the accounts for the year ended 31 March 2023 set out on pages 13 to 26.

12

BEACONSFIELD REPORT OF THE BOARD OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2023

Respective responsibilities of trustees and examiner

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

  4. 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

20/12/2023

13

BEACONSFIELD STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 March 2023

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		 Unrestricte
d funds
Restricted
funds
2023
Total
Unrestricte
d funds
Restricted
funds
2022
Total
£
£
£
£
£
£
10,545
34,785
45,330
1,361
-
1,361
-
45,836
45,836
105,855
81,856
187,711
17,847
27,443
6,433
33,876
857
-
17,847
-
857
11
-
11
29,249
80,621
109,870
134,670
88,289
222,959
11,629
24,001
35,630
23,603
-
23,603
89,832
18,160
107,992
102,484
9,921
112,405
11,774
4,985
16,759
6,656
6,225
12,881
113,235
47,146
160,381
132,743
16,146
148,889
(83,986)
33,475
(50,511)
1,927
72,143
74,070
-
-
-
-
(83,986)
33,475
(50,511)
1,927
72,143
74,070
108,524
99,368
207,892
106,597
27,225
133,822
24,538
132,843
157,381
108,524
99,368
207,892

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 2023

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		 2023
£
39,608
20,333
113,615
133,948
(16,175)
117,773
157,381
-
157,381
-
157,381
24,538
132,843
157,381		 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

For the year ending 31 March 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.

The consolidated financial statements were approved by the Board of Management on 14[th] December 2023 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 2023

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 2022
Cash and cash equivalents as at 31 March 2023
Cash and cash equivalents consist of:
Cash at bank and in hand		 2023
2022
£
£
Total
(47,443)
94,528
(6,877) (11,573)
857
11
(53,473)
82,966
167,088
84,122
113,615
167,088
113,615
167,088

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 2023

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 2023

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 reduced 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 2023

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 2023

2. INCOME FROM DONATIONS AND LEGACIES

Donations
Below Zero Project
3.
INCOME FROM CHARITABLE ACTIVITIES
ACE LOTTERY
KULTURFOND
Grants Received - Arts Council
London Borough of Lambeth
4.
INCOME FROM OTHER TRADING ACTIVITIES
Occasional hires
Exhibition, Bar and other sales
Occasional hires
Exhibition, Bar and other sales
Donations		 Unrestricted
Funds
Restricted
Funds
Total 2023
£
£
£
85
4,785
4,870
10,460
30,000
40,460
10,545
34,785
45,330
Unrestricted
Funds
Restricted
Funds
Total 2023
£
£
£
-
36,972
36,972
-
8,864
8,864
45,836
45,836
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 2023
£
£
£
9,463
-
9,463
8,384
-
8,384
17,847
-
17,847
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 2022
£
£
£
1,361
-
1,361
1,361
-
1,361		 Unrestricted
Funds
Restricted
Funds
Total 2023
£
£
£
85
4,785
4,870
10,460
30,000
40,460
10,545
34,785
45,330
Unrestricted
Funds
Restricted
Funds
Total 2023
£
£
£
-
36,972
36,972
-
8,864
8,864
45,836
45,836
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 2023
£
£
£
9,463
-
9,463
8,384
-
8,384
17,847
-
17,847
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 2022
£
£
£
1,361
-
1,361
1,361
-
1,361
17,847
-
17,847
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
17,917
-
17,917
9,526
6,433
15,959
27,443
6,433
33,876

20

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. INCOME FROM INVESTMENTS

Interest Receivable
Interest Receivable		 Unrestricted
Funds
Restricted
Funds
Total 2023
£
£
£
857
-
857
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
11
-
11

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

Unrestricted Funds
Purchases
4,199
Exhibition Staff
4,916
Publication and marketing
2,514
11,629		 2023
2022
Restricted Funds
Total
£
5,248
9,447
4,621
18,753
23,669
16,509
-
2,514
2,473
24,001
35,630
23,603

In 2023 £11,629 (2022: £23,603) of the above costs were attributable to unrestricted funds and £24,001 (2022: £0) of the above costs were attributable to restricted funds.

21

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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
Sundry expenses
Repairs and Maintenance
Bank Charges
Exhibition Materials
Creative Fees
Travel & substance
Equipment Expensed
Computer costs
Depreciation - Short Leasehold
Depreciation - Plant and Machinery
Depreciation - Fixtures and fittings
Depreciation - Computer Equipment
Support costs		 2023
2022
Unrestricted
Funds
Restricted
Funds
Total
2023
£
£
£
33,132
-
33,132
16,566
620
-
620
620
1,056
-
1,056
30,775
26,510
-
26,510
31,042
2,303
-
2,303
1,944
2,867
-
2,867
5,583
979
-
979
637
310
-
310
2
599
-
599
171
1,865
-
1,865
10,474
353
-
353
168
-
3,028
3,028
936
3,740
14,752
18,492
100
1,510
380
1,890
298
5,664
-
5,664
2,986
1,471
-
1,471
1,559
1,376
-
1,376
1,722
1,047
-
1,047
3,656
2,318
-
2,318
2,901
2,112
-
2,112
265
-
-
-
-
89,832
18,160
107,992
112,405

In 2023 £92,860 (2022: £102,484) of the above costs were attributable to unrestricted funds and £15,132 (2022: £9,921) of the above costs were attributable to restricted funds.

8. GOVERNANCE COSTS

Accountancy
Audit fee
Consultancy Fee
Other legal and professional		 2023
2022
Unrestrict
ed Funds
Restricted
Funds
Total 2022
£
£
£
2,820
-
2,820
2,520
1,328
-
1,328
250
6,795
4,985
11,780
8,975
831
-
831
1,136
11,774
4,985
16,759
12,881

22

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. STAFF REMUNERATION AND NUMBERS

Wages and salaries
Social Security Costs		 2023
2022
£
£
33,132
33,075
-
33,132
33,075

The average monthly number of employees during the year was 2 same as the previous year (1 fulltime equivalent) (2022: 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 2022 174,258 19,050 33,717 45,406 4,981 277,412
Additions/ - - 7,601 7,601
(Disposal)
At 31 March 174,258 19,050 33,717 45,406 12,582 285,013
2023
DEPRECIATION
At 1 April 2022 168,755 - 29,531 36,134 4,133 238,553
Charge for the 1,376 - 1,047 2,318 2,112 6,853
year
At 31 March 170,131 30,578 38,452 6,245 245,406
2023
NET BOOK
VALUES
At 31 March 5,503 19,050 4,186 9,272 848
 38,859
2022
At 31 March 4,127 19,050 3,139 6,954 6,337 39,607
2023

23

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. DEBTORS

2023 2022
£ £
Trade Debtors 260 -
VAT 3,292
Prepayments and other debtors 16,781 16,781
20,333 16,781
12. CREDITORS: Amounts falling due within one year
2023 2022
£ f£
Bank Loans and overdrafts -
Trade creditors 10,467 13,290
Other taxes and social security 879 814
Other Creditors 2,829 655
Deposit for Venue hire 2,000 -
VAT - 77
16,175 14,836

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 2023

14. NET MOVEMENT IN FUNDS

Unrestricted Funds
General Fund
Below Zero Project
Interest
Restricted Funds
N J Siderfin
Ellis Parkinson
Fran Painter - Fleming
Anna Jochymek
Nastja Sade Ronkko
Material Disclosure
ACE LOTTERY
KULTURFOND
Below Zero Project
Donations		 Balance 1
April 2022
Income
Outgoings
Transfers
Balance
31 March
2023
£
£
£
£
£
108,524
17,932
(126,891)
-
722
10,460
10,460
857
857
(4,985)
-
(4,985)
(5,827)
-
(5,827)
(4,806)
(4,806)
(6,272)
(6,272)
(6,120)
(6,120)
(5,480)
(5,480)
36,972
-
36,972
8,864
8,864
30,000
30,000
4,785
4,785
99,368
80,621
179,989
207,893
109,870
(160,381)
-
157,382

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS


Unrestricted Funds
Restricted Funds		 Tangible Fixed
Assets
Net Current
Assets
Total
£
£
£
32,896
(8,358)
24,538
6,711
126,132
132,843
39,607
118,930
157,381

25

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

There were no capital commitments or contingent liabilities at 31 March 2023 (2022: £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 2023 there were £240 outstanding contributions (2022: £120).

26

BEACONSFIELD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. RECONCILIATION OF NET MOVEMENT IN FUNDS

NCILIATION 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		 x
2023
2022
£
£
£
£
£
£
Unrestricted Restricted
Total
Unrestricted Restricted
Total
(83,987)
33,475
(50,511)
1,927
72,143
74,070
(857)
-
(857)
(11)
-
(11)
6,853
-
6,853
8,544
-
8,544
(103)
-
(103)
13,999
-
13,999
(2,824)
-
(2,824)
(2,074)
-
(2,074)
(80,918)
33,475
(47,443)
22,385
72,143
94,528