2022-03-31-accounts - Bow Arts Trust

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		Page
Reference and administrative details ofthe charity,	its Trustees and advisers
Trustees' report		2-9
Trustees' responsibilities statement		10
Independent auditors' report on the financial statements		11-14
Consolidated statement offinancial activities		15
Consolidated balance sheet		16-17
Charity balance sheet		18-19
Consolidated statement ofcash flows		20
Charity statement ofcash flows		21
Notes to the financial statements		22-45

Trustees			M Gales, Chair
			E Marshall
			R Madan
			Dr M Owens
			N Smales
			BSmith
			C Smith
			C Swift
			SPallister
Company	registered
number			03031923
Charity registered
number			1046958
Registered		office	183Bow Road
			London
			E32SJ
Company	secretary		M Baettig
Chief executive officer			M Baettig
Independent		auditors	RPG Crouch Chapman
			5th Floor
			14-16Dowgate	Hill
			London
			EC4R 2SU
Bankers			National Westminster		Bank Pic
			161 Bow Road
			London
			E32SG
			Lloyds Bank Pic
			PO Box 1000
			BX1 1LT
			Aldermore Bank
			1st Floor, Block	B
			Western House
			Lynch Wood
			Peterborough
			PE2 6FZ

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2022	2022	2022	2021
		Note	F	F	F
Income from:
Donations and legacies		4	759,875	206,325	966,200	875,254
Charitable activities:
License fees, service charges and
rents receivable			1,304,337		1,304,337	1,028,407
Education income			206,383		206,383	31,419
Gallery income			19,306		19,306	28,940
Other income			10,443		10,443
Enterprise and placemaking			51,151		,51,151	4,363
Other trading activities			208,392		208,392	136,751
Investments			12,662		12,662	12,224
Total income			2,572,549	206,325	2,778,874	2,117,358
Expenditure on:
Charitable activities		8	1,675,462	232,896	1,908,358	1,641,142
Other expenditure	(non-charitable)		229,086		229,086	96,565
Total expenditure			1,904,548	232,896	2,137,444	1,737,707
Net income/(expenditure)			668,001	(26,571)	641,430	379,651
Transfers between	funds	19	(1,989)	1,989
Net movement in funds			666,012	(24,582)	641,430	379,651
Reconciliation offunds:
Total funds brought	forward		1,804,972	225,323	2,030,295	1,650,644
Net movement in funds (as restated)			666,012	(24,582)	641,430	379,651
Total funds carried	forward		2,470,984	200,741	2,671,725	2,030,295

					2022		2021
			Note
Fixed assets
Tangible assets			14		738,852		436,340
					738,852		436,340
Current assets
Debtors: amounts	falling	due within one
year			16	871,806		701,332
Cash at bank and	in hand			2,824,390		2,201,706
				3,696,196		2,903,038
Creditors: amounts	falling due within
one year			17	(1,150,374)		(966,788)
Net current assets					2,545,822		1,936,250
Total assets less current		liabilities			3,284,674		2,372,590
Creditors: amounts	falling due after
more than one year			18		(612,949)		(342,295)
Total net assets					2,671,725		2,030,295
Charity funds
Restricted funds			19		200,741		225,323
Unrestricted funds			19		2,470,984		1,804,972
Total funds'					2,671,725		2,030,295

				2022		2021
		Note
Fixed assets
Tangible assets		14		254,128		12,461
Investments				1		1
				254,129		12,462
Current assets
Debtors: amounts	falling due after more
than one year		16	332,757		414,330
Debtors: amounts	falling due within one
year		16	1,049,908		707,521
Cash at bank and	in hand		2,677,853		2,137,126
			4,060,518		3,258,977
Creditors: amounts	falling due within
one year		17	(1,031,953)		(854,613)
Net current assets				3,028,565		2,404,364
Total assets less current liabilities				3,282,694		2,416,826
Creditors: amounts	falling due after
more than one year		18		(612,949)		(342,295)
Total net assets				2,669,745		2,074,531
Charity funds
Restricted funds		19		200,741		225,323
Unrestricted funds		19		2,469,004		1,849,208
Total funds				2,669,745		, 2,074,531

	FOR THE Y	EAR ENDED 31 MARCH 2022
			2022	2021f
Cash flows from operating	activities
Net cash provided by operating activities			928,457	395,416
Cash flows from investing	activities
Dividends, interests and rents from investments			12,662	12,224
Purchase" oftangible fixed	assets		(318,436)	(84,145)
Net cash used in investing	activities		(305,774)	(71,921)
Cash flows from financing	activities
Net cash provided by financing activities
Change in cash and cash equivalents in the		year	622,683	323,495
Cash and cash equivalents	at the beginning	ofthe year	2,201,708	1,878,213
Cash and cash equivalents	at the end ofthe	year	2,824,391	2,201,708
The notes on pages 22 to	45 form part ofthese financial statements

	CHARITY STATEMENT OF CASH FLOWS	CHARITY STATEMENT OF CASH FLOWS
	FOR THE YEAR ENDED 31 MARCH 2022
			2022	2021
Cash flows from operating	activities
Net cash provided by operating activities			774,422	399,391
Cash flows from investing	activities
Dividends, interests and rents from investments			12,662	12,224
Purchase oftangible assets			(246,358)	(5,197)
Net cash (used in)/provided	by investing activities		(233,696)	7,027
Cash flows from financing	activities
Net cash provided by financing activities
Change in cash and cash equivalents in the		year	540,726	406,418
Cash and cash equivalents	at the beginning	ofthe year	2,137,128	1,730,710
Cash and cash equivalents	at the end ofthe	year	2,677,854	2,137,128
The notes on pages 22 to	45 form part ofthese financial statements

Long-term leasehold	over the	length ofthe lease
property
Fixtures and fittings	20% reducing	balance
Cafe equipment	20% straight	line
Live/ Work improvements	over three years

	Un-
	restricted	Restricted	Total	Total
	funds	funds	funds	funds
	2022f	2022 6	2022 E	2021 E
Grants and donations	759,875	206,325	966,200	875,254
Total 2021	584,256	290,998	875,254

		Un-
		restricted	Total
		funds	funds
		2022	2022
Admin fees		3,930	3,930
Key costs		247	247
Nunnery Cafe	rent	1,300	1,300
Management	fees	3,000	3,000
Miscellaneous		1,966	1,966
		10,443	10,443

			Un-
			restricted	Total	Total
			funds	funds	funds
			2022f	2022	2021 E
	Place making	income	32,723	32,723	13,500
	Fees receivable		29,488	29,488
	Service charge receivable		16,018	16,018
	Project Income		3,815	3,815	10,248
	Cafe income		86,005	86,005	26,129
	Management	fees	40,000	40,000	52,350
	Space hire income		5	5
	Other income		338	338	34,524
			208,392	208,392	136,751
	Total 2021		136,751	136,751
7.	Investment income

		Un-
		restricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		E	F	E
Bank	and other interest receivable	12,662	12,662	12,224
Total	2022	12,662	12,662	12,224
Total	2021	12,224	12,224

			Un-
			restricted	Restricted	Total	Total
			funds	funds	funds	funds
			2022f	2022f	2022f	2021f
Expenditure	on charitable	activities	1,675,462	232,896	1,908,358	1,641,142
Total 2022			1,675,462	232,896	1,908,358	1,641,142
Total 2021			1,416,344	224,798	1,641,142

			Direct	Support	Total	Total
			Costs	Costs	funds	funds
			2022f	2022	2022 F	2021
Provision of Creative		Workspace	885,466	197,065	1,082,531	1,137,098
Education	Projects		384,111	85,486	469,597	270,292
Gallery Programme		& Events	121,572	27,056	148,628	164,299
Enterprise	& Placemaking		91,639	20,420	112,059
Governance				95,543	95,543	69,453
			1,482,788	425,570	1,908,358	1,641,142
Total 2021			1,273,146	367,995	1,641,141

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						2022	2021
	Fees payable	to the charity's	auditor	for the audit ofthe charity's
	annual accounts					6,500	6,250
	Fees payable	to the chaiity's	auditor	in	respect of:
	The auditing	ofaccounts of	subsidiaries		ofthe charity	4,850	4,175
12.	Staff costs

	Group	Group	Charity	Charity
	2022f	2021	2022	2021 F
Wages and salaries	583,198	525,005	583,198	525,005
Social security costs	49,272	50,382	49,272	50,382
Pension costs	91,601	104,316	91,601	104,316
	724,071	679,703	724,071	679,703

					Group	Group	Group
					2022		2021
					No.		No.
In	the	band	F80,001	- F90,000	1	.	1

be	nefits was as follows:
				2022	2021
Dr	M Owens	Consultancy	Services	19,200
'N	Smales	Consultancy	Services	2,000

	Long-term
	leasehold	Fixtures and	Cafe
	property	fittings	Equipment	Total
	F	6		6
Cost or valuation
At 1 April 2021	462,914	29,397	15,916	508,227
Additions	318,435			318,435
Disposals	(48,584)			(48,584)
At 31 March 2022	732,765	29,397	15,916	778,078
Depreciation
At 1 April 2021	47,008	18,512	6,367	71,887
Charge for the year	9,683	3,114	3,126	15,923
On disposals	(48,584)			(48,584)
At 31 March 2022	8,107	21,626	9,493	39,226
Net book value
At 31 March 2022	724,658	7,771	6,423	738,852
At 31 March 2021	415,906	10,885	9,549	436,340

	Long-term
	leasehold	Fixtures and
	property	fittings	Total
	E		E
Cost or valuation
At 1 April 2021	48,584	29,397	77,981
Additions	246,357		246,357
Disposals	(48,584)		(48,584)
At 31 March 2022	246,357	29,397	275,754
Depreciation
At 1 April 2021	47,008	18,512	65,520
Charge for the year	1,576	3,114	4,690
On disposals	(48,584)	-	(48,584)
At 31 March 2022		21,626	21,626
Net book value
At 31 March 2022	246,357	7,771	254,128
At 31 March 2021	1,576	10,885	12,461

	Investments
	in subsidiary
	companies
charity	F
Cost or valuation
At 1 April 2021
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021

					Charity	Charity
					2022	2021
					F	F
Due after	more than one year
Amounts	owed by group undertakings				332,757	414,330
			Group	Group	Charity	Charity
			2022	2021	2022	2021
			F		F	6
Due within	one year
Trade debtors			239,155	246,100	137,789	104,827
Amounts	owed by group undertakings				283,267	35,274
Other debtors			56,774	22,103	55,997	21,254
Prepayments		and accrued income	575,877	433,129	572,855	546,167
			871,806	701,332	1,049,908	707,522

		Group	Group	Charity	Charity
		2022 F	2021f	2022f	2021f
Bank loans		58,333		58,333
Trade creditors		117,580	56,659	105,737	46,240
Arts Council Capital Grant		11,475		11,475
Other taxation and social security		18,524	16,722
Other creditors		266,030	208,028	251,115	193,117
Accruals and deferred	income	678,432	685,379	605,293	615,256
		1,150,374	966,788	1,031,953	854,613
		Group	Group	Charity	Charity
		2022 F	2021f	2022	2021f
Deferred income
Opening balance		227,313	155,508	227,313	155,508
Received in the year		268,882	227,313	200,742	227,313
Released in the year		(227,313)	(155,508)	(227,313)	(155,508)
Closing balance		268,882	227,313	200,742	227,313

	Group	Group	Charity	Charity
	2022f	2021f	2022f	2021f
Bank loans	291,667		291,667
Arts Council Capital Grant	321,282	342,295	321,282	342,295
	612,949	342,295	612,949	342,295

		Group	Group	Charity	Charity
		2022	2021	2022	2021
		E		E
Payable or repayable	by instalments	11,667		11,667
Payable or repayable	other than by
instalments		275,385		275,385
		287,052		287,052

Statement offunds	-	current	year
								Balance at
			Balance at 1				Transfers	31 March
			April 2021 E		Income 2	Expenditure 6	in/out f	2022 E
Unrestricted funds
Designated funds
Resilience fund			941,000				620,000	1,561,000
General funds
General funds			863,972		2,572,549	(1,904,548)	(621,989)	909,984
Total Unrestricted	funds		1,804,972		2,572,549	(1,904,548)	(1,989)	2,470,984
Restricted funds
Arts Council NPO	Grant		3,168		10,185	(10,176)	6,832	10,009
HLF Grant (Plastics)			149				(149)
HLF Grant (Textiles)			1,277	.			(1,277)
Paul Hamlyn Foundation-
More & Better			100,530			(33,690)	(2,879)	63,961
Vauxhall New Development			34,048			(34,048)
Education projects			86,151		83,110	(94,470)	(10,531)	64,260
Furlough Grant					12,547	(12,547)
Thamesmead Arts	Chest				30,757		4,475	35,232
ACE NPO Bow Skills					2,643	(901)	2,708	4,450
HLF Emergency Funding
(Covid)						(2,810)	2,810
East London Painting		Prize
(Minerva)					2,083			2,083
Paul Hamlyn Foundation-
Social Justice Fund					65,000	(44,254)		20,746
			225,323		206,325	(232,896)	1,989	200,741
Total offunds			2,030,295		2,778,874	(2,137,444)		2,671,725

Statement offunds (continued)	Statement offunds (continued)
Statement offunds - prior year
					Balance at
		Balance at			31 March
		1 April 2020	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
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	- More 8Better	109,231		(8,701)	100,530
Vauxhall New Development			34,048		34,048
Education projects		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

Analysis	ofnet assets between	funds - current year
			Un-
			restricted	Restricted	Total
			funds	funds	funds
			2022	2022	2022
			F	F	E
Tangible	fixed assets		260,550	478,302	738,852
Current	assets		3,652,475	43,721	3,696,196
Creditors	due within one year		(1,150,374)		(1,150,374)
Creditors	due in more than one	year	(291,667)	(321,282)	(612,949)
Total			2,470,984	200,741	2,671,725
Analysis	of net assets between	funds - prior year
			Un-
			restricted	Restricted	Total
			funds	funds	funds
			2021	2021	2021
			F
Tangible	fixed assets		22,010	414,330	436,340
Current assets			2,749,750	153,288	2,903,038
Creditors	due within one year		(966,788)		(966,788)
Creditors	due in more than one	year		(342,295)	(342,295)
Ttl			1,804,972	225,323	2,030,295

						Group	Group	Charity	Charity
						2022 f	2021 f	2022 f	2021
	Net income for	the	year	(as	per
	Statement of Financial Activities)					641,430	379,651	595,214	344,044
	Adjustments for:
	Depreciation charges					23,406	11,084	4,690	7,956
	Dividends, interests	and rents from
	investments					(12,662)	(12,224)	(12,662)	(12,224)
	Decrease/(increase)	in debtors				(170,474)	(146,797)	(260,814)	(72,002)
	Increase in creditors					421,823	163,701	447,994	131,616
	Net cash provided by operating			activities		903,523	395,415	774,422	399,390
22.	Analysis ofcash and	cash	equivalents
						Group	Group	Charity	Charity
						2022 f.	2021	2022 f	2021
	Cash in hand					2,824,391	2,201,708	2,677,854	2,137,128
	Total cash and cash	equivalents				2,824,391	2,201,708	2,677,854	2,137,128
23.	Analysis ofchanges	in net debt
							At 1 April		At 31
							2021	Cash flows f	March 2022 f
	Cash at bank and in	hand					2,201,706	622,684	2,824,390
	Debt due within 1 year							(69,808)	(69,808)
	Debt due after 1 year							(291,667)	(291,667)
							2,201,706	261,209	2,462,915

Operating lease commitments	Operating lease commitments
At 31 March 2022 the Group and		the charity had commitments		to make future minimum lease
payments	under non-cancellable	operating	leases as follows:
				Charity	Charity
				2022f	2021f
Not later than 1 year				345,392	345,392
Later than	1 year and not later than 5years			4,000	4,000
Later than	5 years			20,000	21,000
				369,392	370,392