## ||||Page|| |---|---|---|---|---| |Report ofthe Trustees||1|to|8| |Report ofthe Independent|Auditors|9|to|10| |Statement of Financial Activities||||| |Balance Sheet|||12|| |Notes to the Financial Statements||13|to|21| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Year E|nded 31 Iillarch|2021||| |---|---|---|---|---|---|---|---| |||||||2021|2020| |||||Unrestricted|Restricted|Total|Total| |||||funds|funds|funds|funds| ||||Notes|8|8|F|| |INCOME AND ENDOWMENTS||FROM|||||| |Donations
and grants||||55,131||55,131|| |Charitable
activities|||||||| |Support and promotion|ofarts and crafts|||297,991|75,275|373,266|414,627| |Total||||353,122|75,275|428,397|414,627| |EXPENDITURE ON|||||||| |Charitable
activities|||||||| |Support and promotion|ofarts and crafts|||326,235|211,068|537,303|559,121| |NET INCOMEI(EXPENDITURE)||||26,887|(135,793)|(108,906)|(144,494)| |RECONCILIATION
OF|FUNDS||||||| |Total funds brought forward||||31,057|3,933,324|3,964,381|4,108,875| |TOTAL FUNDS CARRIED FORWARD||||57,944|3,797,531|3,855,475|3,964,381| ## ## ||||||Notes||||2021f|2020f| |---|---|---|---|---|---|---|---|---|---|---| |FIXEDASSETS||||||||||| |Tangible assets|||||12||||3,808,672|3,947,250| |CURRENT ASSETS||||||||||| |Debtors|||||13||||5,531|7,108| |Cash at bank and in hand|||||||||114,507|56,151| ||||||||||120,038|63,259| |CREDITORS||||||||||| |Amounts
falling|due within|one year|||14||||(73,235)|(46,128)| |NET CURRENT|ASSETS||||||||46,803|17,131| |TOTAL ASSETS LESSCURRENT|||LIABILITIES||||||3,855,475|3,964,381| |NET ASSETS|||||||||3,855,475|3,964,381| |FUNDS|||||17|||||| |Unrestricted
funds|||||||||57,944|31,057| |Restricted funds|||||||||3,797,531|3,933,324| |TOTAL FUNDS|||||||||3,855,475|3,964,381| |The charitable
31 March 2021.|company|is entitled|to exemption|from|audit|under|Section 477 of the|Companies|Act 2006 for the year
ended|| ## ## ## ## ## ## ## ## ## ## ## ## ## |DONATIONS
AND GRA|NTS||||| |---|---|---|---|---|---| |||||2021f|2020| |Grants||||55,131|| |Grants received, included|in the|above, are as follows.|||| |||||2021f|2020f| |Exceptional
coronavirus|grants|||55,131|| |INCOME FROM CHARITABLE||ACTIVITIES|||| |||Activity||2021f|2020f| |Grants
Members'
contributions
Programme
income
Other income||Support and promotion
Support and promotion
Support and promotion
Support and promotion|ofarts and craRs
of arts and craRs
ofarts and crafts
ofarts and crafts|73,192
297,962
2,112|86,870
313,325
10,765
3,667| |||||373,266|414,627| |Grants received, included|in the|above, are as follows:|||| |||||2021f|2020| |Arts Council regular
funding
City ofIdeas capital grant||||73,192|71,870
15,000| |||||73,192|86,870| ## ## ## ## ## |||||||Gmnt|||| |---|---|---|---|---|---|---|---|---|---| |||||||b/nd)ng|of||| |||||||activit)es||Support|| ||||||Direct|(see note||costs (see|| ||||||Costs|8)f||note 7)
f|Totalsf| |Support and promotion|of|arts and|crafts||532,425|1,248||3,630|537,303| |GRANTS PAYABLE|||||||||| |||||||||2021|2020f| |Support and promotion|of|arts and|crafts|||||1,248|22,334| |The total grants
paid to|individuals||during|the year was as|follows:||||| |||||||||2021f|2020f| |Microgrants
awarded
to|arts and crafts businesses|||||||1,246|22,334| |SUPPORT COSTS|||||||||| ||||||||||Governance| ||||||||||costs| ||||||||||f| |Support and pmmotion|of|arts and|crafts||||||3,630| |NET INCOME/(EXPENDITURE)|||||||||| |Net income/(expenditure)||is stated|atter charging/(crediting):||||||| |||||||||2021|2020f| |Auditor's fees for audit services||||||||1,540|1,520| |Auditor's fees for non-audit||services||||||2,090|1,730| |Depreciation
- owned assets||||||||138,578|141,814| |Other operating
leases||||||||24|2,527| |Government
arts grant||||||||(73,192)|(71,870)| |Government
capital grant|||||||||(15,000)| |Government
coronavirus|grants|||||||(55,131)|| |Exceptional
studio costs||||||||17,293|| |TRUSTEES' REMUNERATION
AND BENEFITS|||||||||| ## ## ## |STAFFCOSTS|||||||| |---|---|---|---|---|---|---|---| |||||||2021|2020| |||||||5|8| |Wages and salaries||||||139,201|128,280| |Social security costs||||||10,386|7,560| |Other pension costs||||||2,806|2,450| |||||||152,393|138,290| |The average
monthly
number|of|employees||during the year was as follows:|||| |||||||2021|2020| |Charitable
activities||||||6|5| |Administration||||||1|1| |No employees
received emoluments|||in excess of260,000.||||| |Key management
personnel|remuneration|||was F70,803(2020:561,710).|||| |COMPARATIVES FOR THE|STATEMENT|||OF FINANCIAL ACTIVITIES|||| ||||||Unrestricted|Restricted|Total| ||||||funds|funds|funds| ||||||6|5|6| |INCOME AND ENDOWMENTS||FROM|||||| |Charitable
activities|||||||| |Support and promotion ofarts and crafts|||||318,779|95,848|414,627| |EXPENDITURE ON|||||||| |Charitable
activities|||||||| |Support and promotion
of arts|and crafts||||324,941|234,180|559,121| |NET INCOMEI(EXPENDITURE)|||||(6,162)|(138,332)|(144,494)| |RECONCILIATION
OF FUNDS|||||||| |Total funds brought forward|||||37,219|4,071,656|4,108,875| |TOTAL FUNDS CARRIED FORWARD|||||31,057|3,933,324|3,964,381| ## ## ## ## ## |TANGIBLE FIXEDASS|E|TS||||||| |---|---|---|---|---|---|---|---|---| ||||||Long|||| |||||leasehold||Long||| ||||||building|leasehold||| |||||(Exchange||building|Furniture|| ||||||Place|(Persistence|and|| |||||Studios)
E||Works)
E|equipment
f|Totals
E| |COST||||||||| |At 1 April 2020 and 31 March|||2021||847,622|5,222,259|161,707|6,231,588| |DEPRECIATION||||||||| |At 1 April 2020|||||209,374|1,977,966|96,998|2,284,338| |Charge for year|||||21,191|104,445|12,942|138,578| |At 31 March 2021|||||230,565|2,082,411|109,940|2,422,916| |NET BOOK VALUE||||||||| |At 31 March 2021||||617,057||3,139,848|51,767|3,808,672| |At 31 March 2020||||638,248||3,244,293|64,709|3,947,250| |DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE|||YEAR||||| ||||||||2021|2020| ||||||||f|| |Trade debtors|||||||5,531|7,108| |CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE YEAR||||||| ||||||||2021f|2020
f| |Trade creditors|||||||22,053|3,858| |Members'
deposits|||||||18,4'l8|26,658| |Social security and other|taxes||||||12,036|8,808| |Accruals and deferred income|||||||20,728|6,804| ||||||||73,235|46,128| |LEASING AGREEMENTS||||||||| |The minimum
lease payments|||falling due for operating|leases|were:|||| |||||||2021
f||2020| |Within one year||||||100||100| |In the second to fifth years||||||400||400| |After more than five years||||||9,800||9,900| |||||||10,300||10,400| ## ## ## ## ## |ANALYSIS OF N|ET|AS|SETS|BET|WEEN FUNDS||||| |---|---|---|---|---|---|---|---|---|---| |||||||||2021|2020| |||||||Unrestricted|Restricted|Total|Total| |||||||funds|funds|funds|funds| |||||||F|5|6|6| |Fixed assets||||||11,141|3,797,531|3,808,672|3,947,250| |Current assets||||||119,732|306|120,038|63,259| |Current
liabilities||||||(72,929)|(306)|(73,235)|(46,128)| |||||||57,944|3,797,531|3,855,475|3,964,381| |MOVEMENT
IN FUNDS|||||||||| ||||||||Net|Transfers|| ||||||||movement|between|At| |||||||At 1.4.20|in funds
E|fundsf|31.3.21| |Unrestricted
funds|||||||||| |General
fund|||||||27,498|19,305|46,803| |Building Maintenance|||||||(611)|611|| |Programme
Rates Contingency||||||21,351
9,706||(21,351)
(9,706)|| |Fixed assets fund||||||||11,141|11,141| |||||||31,057|26,887||57,944| |Restricted funds|||||||||| |National
Lottery Building Costs||||||2,333,757|(74,866)||2,258,891| |ERDF Building Costs||||||902,063|(29,307)||872,756| |English Partnerships||Building Costs||||8,473|(272)||8,201| |Arts Council development|||project|||923|(185)||738| |Arts Council Small|Capital||Grant|||475,000|(12,500)||462,500| |She(field City Council||donation||in kind||89,300|(2,350)||86,950| |Capital donations|&fundraising|||||9,296|(245)||9,051| |Required
contribution||from retained|||funds to||||| |capital project||||||114,512|(16,068)||98,444| |||||||3,933,324|(135,793)||3,797,531| |TOTAL FUNDS||||||3,964,381|(108,906)||3,855,475| ## ## |Net movement
in fun|ds, include|d
in|the above are|as follows:|||| |---|---|---|---|---|---|---|---| ||||||Incoming|Resources|Movement| ||||||resources|expended|in funds| ||||||6|E|| |Unrestricted
funds|||||||| |General
fund|||||353,122|(325,624)|27,498| |Building Maintenance||||||(611)|(611)| ||||||353,122|(326,235)|26,887| |Restricted funds|||||||| |National
Lottery Building Costs||||||(74,866)|(74,866)| |ERDF Building Costs||||||(29,307)|(29,307)| |English Partnerships|Building Costs|||||(272)|(272)| |Arts Council regular funding|||||73,192|(73,192)|| |Programme
Activity|||||2,083|(2,083)|| |Arts Council development
project||||||(185)|(185)| |Arts Council Small Capital Grant||||||(12,500)|(12,500)| |Shsffield
City Council|donation|in kind||||(2,350)|(2,350)| |Capital donations
&fundraising||||||(245)|(245)| |Required
contribution|from retained||funds to||||| |capital project||||||(16,068)|(16,068)| ||||||75,275|(211,068)|(135,793)| |TOTAL FUNDS|||||428,397|(537,303)|(108,906)| |Comparatives
for movement||in funds|||||| ||||||Net|Transfers|| ||||||movement|between|At| |||||At 1.4.19|in funds|funds|31.3.20| |||||F|8|8|8| |Unrestricted
funds|||||||| |General fund|||||(5,398)|5,398|| |Building Maintenance|||||(764)|764|| |Programme||||21,351|||21,351| |Rates Contingency||||15,868||(6,162)|9,706| |||||37,219|(6,162)||31,057| |Restricted funds|||||||| |National
Lottery Building Costs||||2,408,623|(74,866)||2,333,757| |ERDF Building Costs||||931,370|(29,307)||902,063| |English Partnerships|Building Costs|||8,745|(272)||8,473| |Arts Council development
project||||1,154|(231)||923| |Arts Council Small Capital Grant||||487,500|(12,500)||475,000| |Sheffield
City Council|donation|in kind||91,650|(2,350)||89,300| |Capital donations
&fundraising||||9,541|(245)||9,296| |Required
contribution|from retained||funds to||||| |capital project||||133,073|(18,561)||114,512| |||||4,071,656|(138,332)||3,933,324| |TOTAL FUNDS||||4,108,875|(144,494)||3,964,381| ## ## ## ## ## ## ## ##