**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:
- produce and promote exhibitions and cultural events, seminars, lectures, and workshops, whether on any premises of the Company or elsewhere
- co-ordinate and work with other agencies or bodies having similar aims and encourage the provision and development of appropriate support and learning services.
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:
- to create opportunities for local and international audiences to engage with leading practice in contemporary visual art
- to provide a nurturing and collaborative environment for the production of new artworks and events, supporting creative practitioners to experiment with new forms and processes within the broad discipline of contemporary art practice.
**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:
- _Soundtrap_ , _Vocalis_ and _Spirit Off_ are programmes that establish Beaconsfield as a primary, national source of sound-art.
- _Phase_ , _Below Zero_ and _TestBed_ are ongoing programmes that signal Beaconsfield’s function as an incubator of talent.
- Collectives and group exhibitions: Beaconsfield encourages and develops collaborative artistic enterprise and nurtures sustainable relationships with a variety of partners.
- _FlatScreen_ is a platform for digital screen-based art works.
- _Society_ refers to our public engagement programme of talks, workshops, and one-off events.
- Beaconsfield Editions is our strand of limited-edition artworks for sale in support of the charity.
- • _Fraternise_ is Beaconsfield's scheme for artist-patrons of the organisation, whereby artworks (the Collection) are held in trust as assets.
- _Mentor_ is the strand used to describe teaching and mentoring that both supports and is generated by commissioned artistic activity.
- BAW (Beaconsfield Art Works) is the moniker for the artist-directors when making independent artworks: confirming Beaconsfield as an artist-led organisation.
## **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:
- select suitable accounting policies and then apply them on a consistent basis;
- observe the methods and principles in the charity SORP (2015 (FRS 102));
- make judgments and estimates that are prudent and reasonable;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
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:
- there is no relevant audit information of which the charitable company’s accountants are unaware; and
- the Board of Management have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the accountants are aware of that information.
**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:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **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
- to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
- 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
2. 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**|