2021-03-31-accounts - Bow Arts Trust

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					Page
Reference and administrative details		ofthe charity,		its Trustees and advisers
Trustees' report					2-7
Independent auditors'	report on the	financial	statements		8-11
Consolidated statement	offinancial	activities			12
Consolidated balance	sheet				13
Charity balance sheet					14
Consolidated statement	ofcash flows				15
Charity statement ofcash flows
Notes to the financial statements					17-32

Trustees					M Coles, Chair
					E Hali
					R Madan
					H Motani (resigned 10			March 2021)
					N Smales
					BSmith
					C Smith
					C Swift
					S Pallister
					Dr M Owens (appointed			10March 2021)
Company	registered			number	03031923
Charity registered			number		1046958
Registered		ofl'ice			183Bow Road
					London
					E32SJ
Company	secretary				M Baettig
Chief executive officer					M Baettig
Independent		auditors			RPG Crouch Chapman			LLP
					5th Floor
					14-16Dowgate	Hill
					London
					EC4R 2SU
Bankers					National Westminster		Bank Pic
					161 Bow Road
					London
					E32SG
					Lloyds Bank Pic
					PO Box1000
					BX1 1LT
					Aldermore Bank
					1st Floor, Block	B
					Western House
					Lynch Wood
					Peterborough
					PE2 6FZ

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2021f	2021 F	2021 8	2020
Income from:
Donations and legacies		3	584,256	290,998	875,254	659,288
Charitable activities
License fees and rents receivable			1,028,407		1,028,407	995,802
Education income			31,419		31,419	269,643
Gallery income			28,940		28,940	36,510
Other income			4,363		4,363	34,346
Other trading activities			136,751		136,751	364,119
Investments			12,224		12,224	15,134
Total income			1 826 360	290 998	2117358	2 374842
Expenditure on:
Raising funds		6	23,143		23,143	560,133
Charitable activities		7	1,416,343	224,798	1,641,141	1,753,227
Other expenditure			73,422	-	73,422	190,752
Total expenditure			1 512 908	224 798	1 737 706	2 504 112
Net movement in funds
Reconciliation offunds:
Total funds brought	forward	18	1,491,520	159,123	1,650,643	1,779,913
Net movement in funds		18	313,452	66,200	379,652	(129,270)
Total funds carried forvvard			~RUZk	~~k	~KLZÃ.	~~M

					2021	2020
					f	f
Cash flows from operating		activities
Net cash	used in operating	activities			395,416	87,960
Cash flows from investing		activities
Dividends,	interests and rents from investments				12,224	15,134
Purchase	oftangible fixed assets				(84,145)	(343,995)
Net cash	used in investing	activities			(71,921)	(328,861)
Cash flows from financing		activities
Net cash	provided by financing activities
Change in cash and cash		equivalents	in	the year	323,495	(240,901)
Cash and	cash equivalents	at the beginning		ofthe year	1,878,213	2,119,114
Cash and	cash equivalents	at the end	of	the year

				2021	2020
				f	f
Cash flows from operating	activities
Net cash used in operating	activities			399,391	(228,858)
Cash flows from investing	activities
Dividends, interests and rents from investments				12,224	15,134
Purchase oftangible assets				(5,197)	(7,348)
Net cash provided by investing activities				7,027	7,786
Cash flows from financing	activities
Net cash provided by financing activities
Change in cash and cash	equivalents	in	the year	406,418	(221,072)
Cash and cash equivalents	at the beginning		ofthe year	1,730,710	1,951,782
Cash and cash equivalents	at the end	of	the year

	FOR THE Y	FOR THE Y	FOR THE Y	EAR ENDED	31 MARCH 2021 —continu	31 MARCH 2021 —continu	ed
3.	INCOME FROM GRANTS,			DONATIONS	AND LEGACIES
					Unrestricted	Restricted	Total	Total
					Funds	Funds	Funds	Funds
					2021 f	2021 f	2021 f.	2020f
	Donations
	Grants and donations		- unrestricted		584,256		584,256	446,579
	Grants and donations		—restricted			290,998	290,998	175,079
	Gift aid							37,630
	Total 2021				584,256	290,998	875,254	659,288
	Total 2020				484,210	175,078	659,288
4.	INCOME FROM TRADING			ACTIVITIES
					Unrestricted		Total	Total
						Funds	Funds	Funds
						2021	2021f	2020f
	Income from non-charitable			activities
	Place making	income				13,500	13,500	18,911
	Project income					36,377	36,377	281,766
	Management fees					52,350	52,350	40,596
	Space hire income							8,195
	Other income					34,524	34,524	14,650
						136,751	136,751	364,118
	Total 2020					364,118	364,118
5.	INVESTMENT	INCOME
					Unrestricted		Total	Total
						Funds	Funds	Funds
						2021f	2021f	2020f
	Bank and other interest		receivable			12,224	12,224	15,134
	Total 2020					15,134	15,134

6.	FUNDRAISING	FUNDRAISING	FUNDRAISING	TRADING EXPENSES	TRADING EXPENSES	TRADING EXPENSES
							Unrestricted		Total	Total
								Funds	Funds	Funds
								2021f	2021f	2020f
	CoS —Raw		Materials					23,143	23,143	560,133
	Total 2020							560,133	560,133
7.	ANALYSIS		OF	EXPENDITURE ON CHARITABLE ACTIVITIES
							Unrestricted	Restricted	Total	Total
							Funds	Funds	Funds	Funds
							2021 f	2021 f	2021 f	2020 f
	Expenditure		on	charitable		activities	1,416,343	224,798	1,641,141	1,753,227
	Total 2020						1,616,854	136,373	1,753,227
8.	ANALYSIS		OF	EXPENDITURE ON CHARITABLE ACTIVITIES
								Core
							Direct	Support	Total	Total
							Costs	Costs	Funds	Funds
							2021 f	2021 f	2021f	2020
	Provision of		Creative		Workspace		974,235	162,863	1,137,098	1,025,131
	Education	Projects					184,127	86,165	270,292	451,312
	Gallery Programmes				and	Events	114,784	49,515	164,299	218,712
	Governance							69,452	69,452	58,072
							1,273,146	367,995	1,641,141	1,753,227
	Total 2020						1,445,532	307,696	1,753,228

		Property	Education	Gallery	Governance	Total	Total
		2021	2021	2021	2021	2021	2020
				F.	F	F	F.
Staff costs		171,697	36,836	22,964	73,586	305,083	241,249
Office overheads		28,192	6,048	3,771	12,083	50,094	35,628
Marketing		2,467	529	330	1,057	4,383	13,878
Professional	fees
and charges		4,747	1,018	635	2,035	8,435	16,941
Total 2021		207,103	44,431	27,700	88,761	367,995	307,696
Tota I 2020		136,176	72,046	41,402	58,072	307,696

				2021	2020
					F
Fees payable to the charity's		auditor	for the audit ofthe charity's
annual	accounts			6,250	6,166
Fees payable to the charity's		auditor	in respect ofthe
auditing	ofaccounts ofsubsidiaries		ofthe charity	4,175	4,125

STAFF COSTS
	Group	Group	Charity	Charity
	2021	2020	2021	2020
			F	F
Wages and salaries	525,005	606,094	525,005	606,094
Social security costs	50,382	53,007	50,382	53,007
Pension costs	104,316	16,386	104,316	16,386
	679,703	675,487	679,703	675,487

Group	Group
2021	2020
Number	Number
21	24

Group	Group
2021	2020
Number	Number

TANGIBLE FIXEDASSETS
	Long-term		Leasehold
GROUP	Leasehold	Fixtures 8	Improve-	Cafe
	Property f	Fittings f	ments f	Equipment f	Total F
Cost or valuation
At 1 April 2020	48,584	47,146	335,380	15,916	447,026
Additions		5,196	78,950		84,146
Disposals		(22,945)			(22,945)
At 31 March 2021	48,584	29,397	414,330	15,916	508,227
Depreciation
At 1 April 2020	42,054	38,455		3,239	83,748
Charge for the year	4,954	3,002		3,128	11,084
On disposals		(22,945)			(22,945)
At 31 March 2021	47,008	18,512		6,367	71,887
Net book value
At 31 March 2021	1,576	10,885	414,330	9,549	436,340
At 31 March 2020	6,530	8,691	335,380	12,677	363,278

13.	TANGIBLE FIXEDASSETS —continued	TANGIBLE FIXEDASSETS —continued	TANGIBLE FIXEDASSETS —continued
					Long-term	Fixtures
	CHARITY				Leasehold	and
					Propertyf	Fittings F	Total
	Cost or valuation
	At 1 April 2020				48,584	47,146	95,730
	Additions					5,196	5,196
	Disposals					(22,945)	(22,945)
	At 31 March 2021				48,584	29,397	77,981
	Depreciation
	At 1 April 2020				42,054	38,455	80,509
	Charge for the year				4,954	3,002	7,956
	On disposals					(22,945)	(22,945)
	At 31 March 2021				47,008	18,512	65,520
	Net book value
	At 31 March 2021				1,576	10,885	12,461
	At 31 March 2020				6,530	8,691	15,221
14.	FIXEDASSET INVESTIIENTS
						Investments in
	CHARITY					Subsidiary Companies
	Cost or valuation
	At 1 April 2020
	At 31 March 2021
	Net book value
	At 31 March 2021
	At 31 March 2020
	Principal subsidiaries:
	The following was	a subsidiary	undertaking	ofthe charity:
				Company	Class of	Included in
	Name			Number	Shares	Holding Consolidation
	Bow Arts Trading	Limited		10072462	Ordinary	100%	Yes

	The financ	ial	r	esul	ts ofth	e subsidiary fo	r the year were
								ProfiV(Loss)
									Surplus/
								(Deficit) for		Net Assets/
	Name						Income Expenditure f f		the Year f	(Liabilities) f
	Bow Arts	Trading			Limited		160,753	(125,146)	35,607	(44,235)
15.	DEBTORS
									Charity	Charity
									2021	2020
									f	f
	Due after	more		than one		year:
	Amounts	owed		by	group	undertakings			414,330	335,380
							Group	Group	Charity	Charity
							2021f	2020 f.	2021f	2020
	Due within	one		year:
	Trade debtors						246,100	182,115	104,826	136,585
	Amounts	owed		by	group	undertakings			35,274	18,594
	Other debtors						22,103	32,570	21,254	32,570
	Prepayments		and		accrued income		433,129	339,850	546,167	526,720
							701,332	554,535	707,521	714,469
16.	CREDITORS:		Amounts			falling due after more than one year
							Group	Group	Charity	Charity
							2021 f	2020 f	2021 F	2020 f
	Arts Council Capital Grant						342,295	342,295	342,295	342,295

			Group	Group	Charity	Charity
			2021	2020	2021	2020
				6		F
Trade creditors			56,658	104,003	46,240	85,529
Other taxation and social security			16,722	9,261
Other creditors			208,029	209,148	193,118	209,040
Accruals	and deferred	income	685,379	480,675	615,256	428,429
			966,788	803,087	854,614	722,998
					Group	Group
					2021	2020
					6	6
Deferred	income
Opening	balance				155,508	127,995
Received	in the year				227,313	155,508
Released	in the year				(155,508)	(127,995)
Closing balance					227,313	155,508

STATEMENT OF	FUNDS
		Balance at		Balance at
CURRENT YEAR		1 April			31 March
		2020f	Income f.	Expenditure f.	2021 f
Unrestricted funds
Designated funds
Resilience fund		941,000			941,000
General funds
General funds		550,520	1,826,360	(1,512,908)	863,972
		550,520	1,826,360	(1,512,908)	863,972
Total Unrestricted	funds	1,491,520	1,826,360	(1,512,908)	1,804,972
Restricted funds
Arts Council NPO	Grant	3,168			3,168
HLF Grant (Plastics)		149			149
HLF Grant (Textiles)			1,277		1,277
Paul Hamlyn Foundation		109,231	-	(8,701)	100,530
Vauxhall New Development			34,048	-	34,048
Education projects	carried forward	46,575	59,691	(20,115)	86,151
Furlough Grant			195,982	(195,982)
		159,123	290,998	(224,798)	225,323
Total offunds		1,650,643	2,117,358	(1,737,706)	2,030,295

STATEMENT OF FUNDS	STATEMENT OF FUNDS
		Balance at			Balance at
PRIOR YEAR		1 April			31 March
		2019	Income f	Expenditure f	2020 f
Unrestricted funds
Designated funds
Resilience fund		1,300,000		(359,000)	941,000
General funds
General funds		359,496	2,199,763	(2,008,739)	550,520
Total Unrestricted	funds	1,659,496	-	(2,367,739)	1,491,520
Restricted funds
Aberfeldy Village LLP			4,000	(4,000)
Arts Council NPO	Grant	3,072	50,292	(50,196)	3,168
HLF Grant (Plastics)		5,949	19,040	(24,989)
HLF Grant (Textiles)		784		(635)	149
Paul Hamlyn Foundation		64,036	93,000	(47,806)	109,230
Vauxhall New Development			2,867	(2,867)
Education projects carried forward		46,576	5,880	(5,880)	46,576
		120,417	175,079	(136,373)	159,123
Total offunds		1,779,913	175,079	(2,504,112)	1,650,643

ANALYSIS OF NET ASSETS BETWEEN FUNDS
	Unrestricted	Restricted	Total
CURRENT YEAR	Funds	Funds	Funds
	2021	2021f	2021f
Tangible fixed assets	22,010	414,330	436,340
Current assets	2,749,751	153,288	2,903,039
Creditors due within one year	(966,788)	-	(966,788)
Creditors due in more than one year		(342,295)	(342,295)
Total	1,804,972	225,323	2,030,295
ANALYSIS OF NET ASSETS BETWEEN FUNDS
	Unrestricted	Restricted	Total
PRIOR YEAR	Funds	Funds	Funds
	2020 f	2020 f	2020f
Tangible fixed assets	27,898	335,380	363,278
Current assets	2,266,709	166,038	2,432,747
Creditors due within one year	(803,087)	-	(803,087)
Creditors due in more than one year		(342,295)	(342,295)
Total	1,491,522	159,123	1,650,645

OPERATING ACT	IV	IT	IES
					Group	Group	Charity	Charity
					2021f	2020f	2021	2020f
Net income/expenditure			for the	year
(as per Statement	of		Financial	Activities)	379,652	(129,270)	344,045	(129,264)
Adjustments for.
Depreciation charges					11,084	10,007	7,956	6,768
Dividends, interests	and rents
from investments					(12,224)	(15,134)	(12,224)	(15,134)
Decrease/(increase)		in	debtors		(146,797)	(46,892)	(72,002)	(528,195)
Increase in creditors					163,701	269,249	131,616	436,969
Net cash provided	by	operating		activities	395,416	87,960	399,391	(228,856)

				Group	Group	Charity	Charity
				2021f	2020 f	2021 f	2020f
	Cash in hand			2,201,708	1,878,213	2,137,128	1,730,710
	Total cash and cash equivalents			2,201,708	1,878,213	2,137,128	1,730,710
22.	ANALYSIS OF CHANGES		IN NET DEBT
					At		At
					31 April	Cash	31 March
					2020f	Flows f	2021 f
	Cash at bank and	in hand			1,878,212	323,493	2,201,705

SUBSIDIARY
Bow Arts Trading	Limited
Subsidiary name	Bow Arts Trading Limited
Company registration number		10072462
Basis ofcontrol	Fully owned subsidiary	of Bow Arts Trust
Equity shareholding	%	100%
Total assets as at	31 March 2021	j634,732
Total liabilities as at 31 March 2021		E(678,967)
Total equity as at	31 March 2021	E(44,235)
Turnover for the year ended 31 March 2021		f160,753
Expenses for the year ended 31 March 2021		E(125,146)
Profit for the year	ended 31 March 2021	635,607