Registered number: 02748849 Charity number: 1049653
Cubitt Artists Limited
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements For the year ended 31 March 2023
Cubitt Artists Limited
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 18 |
| Independent examiner's report | 19 |
| Statement of financial activities | 20 |
| Balance sheet | 21 |
| Notes to the financial statements | 22 - 36 |
Cubitt Artists Limited
(A company limited by guarantee)
Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 March 2023
| Trustees | M Cork |
|---|---|
| S Upham | |
| K Simmonds | |
| P Kanning | |
| B Roberts | |
| R Moussaoi | |
| Company registered number 02748849 Charity registered number 1049653 Registered office 8 Angel Mews London N1 9HH Company secretary K Simmonds Accountant Kreston Reeves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London E1 6RA Bankers The Co-operative Bank PLC Delf House Southway Skelmersdale WN8 6NY |
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Cubitt Artists Limited
(A company limited by guarantee)
Trustees' report For the year ended 31 March 2023
The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2022 to 31 March 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Principal activities and objectives
The Charity’s objective is to provide studio space for artists and to advance the education of the public in the arts, in particular by the provision and maintenance of an art gallery.
b. Overview of activities
In the year between April 2022 to March 2023, Cubitt continued its process of internal reorganisation and resilience building whilst also remaining visible as an active public institution, continuing to create spaces and conditions for artists and our stakeholders to view, engage and practice art through creative workshops and responsive programmes. Supporting many other people and organisations that we see are doing vital work through featuring them on our platforms and sharing resources by co-delivering programming, Cubitt has committed to collaborative working as we build a long term strategy for resilience as a small scale institution. We have begun to broaden our reach and appeal to new audiences by deepening our relationships with commissioned and exhibiting artists and by establishing meaningful partnerships with other institutions to work together amidst uncertainties. In presenting and commissioning work from practitioners with a diverse range of backgrounds and practices, as well as grounding ourselves in the immediate needs of our surrounding community and neighbourhood, our goal is to make the programme relevant, flexible and responsive to a wider cultural, social and political context.
The changes of the year also meant we continue to rethink our role as a public arts organisation in times of crisis and change. Using an intersectional lens we will navigate the new landscape of the recovery of the culture sector. Developing structures that allow us to rethink how we work together and how to be more connected with our communities and neighbourhood, Cubitt will advocate for a recovery of the arts sector that is shaped by the experiences, needs and leadership of those historically excluded from sector including artists and art workers that identify as Black, people of colour, queer, disabled and working class.
Cubitt Artists have grown closer as a team and been able to create a new vision for Cubitt Programmes which includes an exciting new Civic Fellowship alongside the Curatorial Fellowship.
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Cubitt Artists Limited
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Trustees' report (continued) For the year ended 31 March 2023
Objectives and activities (continued)
c. Staffing
Permanent Staff
100% senior management team identifies as femme and nonbinary POC (people of colour) and 67% LGBTQIA+, 67% staff are POC.
All staff remain part time working 2-3 days a week.
Director of Programmes - Amal Khalaf Operations and Finance Manager - Sally Moussawi Exhibitions and Communications Manager - Kadeem Oak Programme Manager: Schools and Young People- Lydia Ashman Community Projects Curator- Hayley Harrison
Contractual Workforce
In the year 2022 - 2023 we employed 88 artists, 45 of these were BPOC artists, 18 were heterosexual, 22 identified as Bi, Gay Lesbian or queer.
d. Cubitt 30
Cubitt 30 marks a year-long celebration and fundraising campaign in celebration of Cubitt’s 30th anniversary that began with an exhibition at Victoria Miro gallery on 17 September 2022.
For over three decades Cubitt has provided studio space for artists in central London alongside a renowned nonprofit gallery.
The exhibition presented work by more than 80 artists from Cubitt’s past and present.
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Cubitt Artists Limited
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Trustees' report (continued) For the year ended 31 March 2023
Objectives and activities (continued)
Exhibiting artists include: Tomma Abts, Flo Brooks, Helen Cammock, Angela De La Cruz, Billy Childish, Dexter Dalwood, Tacita Dean, Jeremy Deller, Cecile B Evans, Roger Hiorns, Mark Leckey, Rosalind Nashashibi, Chris Ofili, Elizabeth Price, Cathy Wilkes, Joy Yamusangie AAA, Phil Allen, Charles Avery, Yemi Awosile, Simeon Barclay, Andrew Bick, Eliza Bonham Carter, Lisa Brice, Fran Burden, Simon Callery, Ellen Cantor, Andrew Child, Adam Chodzko, Lucy Clout, Tom Crawford, Anne Marie Creamer, Alex Crocker, Angela de la Cruz, William Daniels, Liz Davis, Ben Deakin, Jemma Desai, Ben Edge, Chris Evans, Peter Fillingham, Jessie Flood-Paddock, Annabel Frearson, R.I.P Germain, Melissa Gordon, Paul Hamlyn, Jamie Hammill, Sidsel Meineche Hansen, Dereck Harris, Annis Harrison, David Harrison, Hayley Harrison, Petra van Harte, Nicky Hoberman, Mimi Hope, Andy Holden, Alison Jones, Gareth Jones, Kerstin Kartscher, Emma Kay, Janice Kerbel, Lawrence Lek, Fiona Long, Ellie MacGarry, Bod Mellor, Sadie Murdoch, Henna Nadeem, Kadeem Oak, Sarah Pickstone, Josephine Pryde, Diana Puntar, Anahita Razmi, Yael Roberts, Karin Ruggaber, Anne Ryan, Jane Simpson, Ross Taylor, Ana Teles, Milly Thompson, Roman Vasseur, Nicole Wermers, Laura White, Hendrik Wittkopf, Mark Wright, Nicholas Wyatt, George Young.
The proceeds from the sale of works will go directly to ensuring the future of one of London’s most influential artist-led organisations. So far, Cubitt 30 fundraiser has raised £53,730.
Throughout the coming year, celebrations will continue onsite at Cubitt with open studios over Frieze weekend and events exploring Cubitt’s diverse curatorial practices. Live performances and programming will continue in the gallery and across local communities, as well as on CCR, Cubitt’s Community Radio Station.
e. Civic Fellowship and Reclaim Islington (To be launched Summer 2023)
Cubitt secured funding to launch the first Civic Fellowship next year, funded by Art Fund and Freelands Foundation Space to Dream - this is part of a wider programme that integrates the fellowship within our activities in community spaces offsite in particular AMSI. This two-year Fellowship will facilitate access to resources, studio at AMSI, mentorship, peer support and a salary for a BPOC individual or collective that is working at the intersection of art and social practice… They can be a social practice curator/a cultural worker/youth or social worker/artist that works in an interdisciplinary way in communities.
The Civic Fellow will produce projects, structures and frameworks that support communities and address social urgencies and resources. Like Cubitt’s Curatorial Fellow, they will become part of Cubitt’s programming fabric, enhancing our ability to build relationships with community stakeholders by:
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convening regular community stakeholder meetings
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securing 6 community partnerships and reaching at least 200 people a year
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devising new collaborative commissions in civic contexts
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championing community voice in Cubitt’s overall strategy
For the first time alongside our Education and Community team of Lydia Ashman and Hayley Harrison, Cubitt will have a fellow whose role is to build relationships with communities in our neighbourhood and reflect back to us their needs and how Cubitt can make a difference in Islington.
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Cubitt Artists Limited
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Trustees' report (continued) For the year ended 31 March 2023
Objectives and activities (continued)
f. Cubitt's Curatorial Fellowship
We’d like express our gratitude to Cubitt Curatorial Fellows 2020-2022 Languid Hands (Rabz Lansiquot and Imani Mason Jordan) on the conclusion of their amazing curatorial programme No Real Closure.
No Real Closure, has seen the duo curate four solo commissions from UK- based Black artists of Caribbean descent: R.I.P. Germain, Ajamu, Camara Taylor and Shenece Oretha , as well as the LIVE programme for Frieze London 2021, with new performances by Rebecca Bellantoni, Ebun Sodipo and Ashley Holmes , and the group screening programme REEL: AXIS, NOT POLES with Che Applewhaite, Kondo Heller, S*an D. Henry Smith, Dita Hashi and Kadeem Oak . In 2020, they launched Curatorial Tactics, a network for Black curators, artists and practitioners: watch out for their takeover on Cubitt Community Radio! Languid Hands are also publishing a forthcoming edited collection of responses to their film Towards a Black Testimony: Prayer/Protest/Peace, featuring commissions from Barby Asante, Christopher Kirubi, nyanju, Rebecca Bellantoni, Derica Shields & more.
“No Real Closure is a platform for experimentation and development of black artistic practice across exhibitions, moving image, text, performance and public programming. Absent is the disproportionate emphasis on surfacelevel survey style programmes and representational focus: when we gather, we do so to manifest collaboration, exchange, dialogue, relationships – a sum greater than its individual parts”.
Thank you to Languid Hands and all the artists, collaborators and supporters that contributed to No Real Closure.
Ah So It Go, Ah No So It Go, Go So! Was an installation and a listening space developed by Londonbased artist Shenece Oretha, curated by Languid Hands the last of their two year programme No Real Closure.
Exhibition: 13 April 2022 - 24 April 2022
Shenece Oretha’s Ah So It Go, Ah No So It Go, Go So! offers a meditation on belonging, land, growing and grounding that reverberates through poetry, oral traditions and embodied knowing. The culmination of a yearlong residency on an allotment in North London, and a development residency in Cubitt’s Studio One, Ah So It Go considers the poetry and complexity of the language of horticulture and cultivation in relation to Black diaspora, migration and culture.
Cubitt’s gallery space is envisaged as a growhouse, lit by daylight and filtered with a hue reminiscent of the evening sky at the allotment. The slanted windows’ similarity to a greenhouse is emphasised to imagine the gallery as space for cultivation and growth. Speakers germinate and gesture throughout the space, inviting us to listen as they speak to us of the ground, the earth, the land. They sound out through the room on bespoke stands, resembling roots unfurling from sprouting seed, demonstrating the passage of time, weathered and allowed to rust in the elements over the duration of Oretha’s residency. Alongside them, growing containers in the form of Steel drum barrels contain seeds, sounds and words.
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The voices transmitted through the speakers commemorate Caribbean growers and literary figures, like Jamaica Kincaid, Grace Nichols, Dorothea Smartt and Valerie Bloom, among many others, who have created, protected and disseminated embodied understandings of being upon this land. Attentive to the significance of Black oral tradition as a method of distributing said knowledge(s), the work foregrounds listening as a compositional tool and leans in to hear their voices and pay tribute to their contribution, celebrating those who give language to grounded experiences of belonging and reconnection.
The installation’s title, Ah So It Go, Ah No So It Go, Go So!, references patois terms, the use of which, in this instance, speak to the instructive and formative moments, gestures and familiar phrases that shape us and impart collective and ancestral wisdom.
g. Cubitt 30 Screening Room:
GOLDSMITHS EXHIBITION RE-ROOTING: MAPPING 30 YEARS OF CUBITT EXHIBITION: 23 JUNE 2022 UNTIL 10 JULY 2022
RE-ROOTING was the first in a series of exhibitions and events in celebration of Cubitt's 30th (+1) anniversary year. Part of exhibitions tracing our artist-run history and public events celebrating the artists, curators and commissions that have been part of Cubitt’s story so far. #CUBITT30
The exhibition was curated by Fran Painter-Fleming and Caitlin Fleming as part of our annual Archive Research Project x Goldsmiths MFA Curating placement:
Breaking ground with the archive and utilising oral histories as the foundation, RE-ROOTING explores the parallels between archiving and mapping to unearth the resilient spirit of Cubitt Artists. Championing the importance of experimental artist-run spaces, the show places a spotlight on Cubitt’s cultural legacy and the contemporary ongoing need for such organisations.
While both mapping and archives are tied to bureaucracy and violence, they also have the emancipatory power to remind us of narratives that may have fallen to the wayside. Ticket stubs, photographs, sketches and letters have been our guides and the stories shared have shed light on a collective memory of a pioneering pirate ship of artists who set sail in 1991 Kings Cross. Their past parallels our present; the ever unstable nature of keeping afloat as an artist-run cooperative in a city that seems to be swallowing itself whole.
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Trustees' report (continued) For the year ended 31 March 2023
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The sound map crafted by Atom Inions Morton brings the diverse strands of Cubitt’s beginnings, its growth and its continual playfulness to the surface. Sat in conversation with the archival materials, the piece punctuates the various ephemera and traces found within Cubitt’s archive.
During its first four years, Cubitt was forced to move location three times. In 1991 extensive renovations began at the first site, Goodsway, with the studios opening in 1992. After just 155 days of the tenancy and £45,000 worth of repairs, the landlords, British Rail gave Cubitt notice to vacate the property by 30 June 1992. It transpired that just two days after the tenancy began British Rail had applied to Camden Council to demolish the building and once the building had been cared for, they now wanted the space to house their engines.
The underhand nature of this encounter with British Rail was sadly not the last turbulent exchange with landlords that Cubitt has had to negotiate. Through each of these upheavals Cubitt has managed to root and re-root each time with resilience. Opening their doors again and again to the local community and young artists and curators alike, showing us that a detour is simply an opportunity to re-route.
This precarity of independent arts organisations in the context of rapid urban development is a widespread issue in our contemporary art sector. It’s the smaller, less institutionalised spaces which provide such an engaging incubator for creatives that are most at risk of closure.
We have to start asking ourselves, what are the spaces the city really needs?
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Trustees' report (continued) For the year ended 31 March 2023
Objectives and activities (continued)
ABUNDANCE IN TOGETHERNESS Exhibition: 11 January 2023 - 25 February 2023
The Cubitt 30 Screening Room is curated by artist and filmmaker Kadeem Oak ; Cubitt’s Communications and Programmes coordinator.
A selection of artist’s moving image works exploring collective practices and cooperative methods of art making that centre the work of contemporary black British women artists and their artist testimonies; presented in the form of mediatheque and multi-screen installation, these works showcase methods and tools for selforganisation, resistance, reflection, healing and togetherness, backdropped by a landscape of social adversity, uprooting and isolation.
Moving image works by: AYO AKINGBADE BLACK OBSIDIAN SOUND SYSTEM HELEN CAMMOCK UFUOMA ESSI EVAN IFEKOYA KYRONE OAK SISTREN THEATRE COLLECTIVE
Artist-in-Residence: Cubitt Community Radio
CCR Cubitt's Community Radio, a platform created by Studio Artists Andi Amirshah in celebration of Cubitt's 30th anniversary year. CCR is resident in Cubitt’s Studio One - streaming online from our home in Islington, north London playing host to a variety of mixes, podcasts and audio-visual content. The platform is a space to (re)discover music, with in-house conversations, extended to artists, students, thinkers, friends of Cubitt and our wider community.
Known CCR Broadcast audiences for 2022 - 2023 is 2,630 listeners (estimated 3,000 listeners).
h. Community Engagement across all ages
Our large scale community based programme enables access for a wide range of people to participate in cultural activity. Diverse Islington has a history of championing equality, London’s 6th most deprived borough (IMD, 2019), 1 in 3 children grow up in poverty. We are at the heart of Islington’s cultural community, working with the council, youth centres, schools, care settings, social housing & local businesses. For over a decade Cubitt has delivered embedded projects benefiting historically underrepresented groups with high quality arts commissions & strong social impact. Our co-creation ethos ensures that Cubitt listens deeply to stakeholders to inform the shape of our programme. Learning & development is a priority; participant & audience surveys, peer feedback & self-evaluation informs programme direction. Artists benefit from our unique year on year contracts with Local.
Education providers, LB Islington & Notting Hill Genesis housing association including 2 artist studios at an extracare setting, The Mildmays and 4 artists studios at Arts & Media School Islington (AMSI) through a Local Education Partnership contract. Onsite, as a hub for our community, we open our doors to local organisations including Voice of Domestic Workers, who use our accessible workshop spaces weekly on Sundays to host their own programming.
In 2022-23 we continued to focus on working more closely with a regular group of artists on our engagement programmes and built new relationships: Kaleidoworks and Jasmin Bhanji who hold a studios at AMSI, Lucy Steggalls and we built new relationships with artists: Meera Shakti Osborne and Charlene Sandy.
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Block C at Arts and Media School Islington
Cubitt have managed four artist studios at Arts and Media School Islington (AMSI) since 2018. The closure of the studios during lockdown impacted the project’s momentum and led us to reevaluate its structure.
Between January and May 2022, we held listening sessions with AMSI students and staff, and current and prospective artists to inform our plans to revive the studios. We wanted to understand stakeholders’ needs, interests and strengths, support meaningful collaborations and increase the visibility of the studios.
We rewrote the terms of the artists in residence, who are now paid a fee to deliver activity and access their studio for free. We’ve stipulated a minimum presence as well as a structure for collaboration and time to reflect, plan and share together and with the wider school community.
A third artist, Meera Shakti Osborne, joined Jasmin Bhanji and artist duo Kaleidoworks in August 2022. The fourth space is flexible and used for workshops, space for visiting artists and will be a site for the Civic Fellow.
The 2022-23 academic year is a period of action research, where we are testing out and learning from approaches to collaboration to understand where we can add value and meaning to the school community.
This year, we’ve engaged 64 students via 15 workshops, and an additional 50 via public events. Jasmin Bhanji led a project with two Year 10 GCSE Art groups which investigated what an artist does all day; looking at studio practice and introducing the students to new materials and processes.
From April 2023, potential projects include:
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Storytelling + voice project, with Dunya Kalentery
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Studio Film Club, with Kaleidoworks
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One-to-one portfolio support, with Meera Osborne
- “The workshop was very influential and inspiring.”
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“I liked talking about the forest and making cyanotypes. I wouldn’t change nothing.”
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“I really enjoyed the workshop, getting to know more people and being creative. I also enjoyed hearing other people’s thoughts about nature.”
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Trustees' report (continued) For the year ended 31 March 2023
Objectives and activities (continued)
11 x 11: Cultural CPD for Islington Educators - commissioned by Islington Council
2022-2023 was the third year of a council-commissioned programme of professional development for Islington educators as part of 11 by 11: Islington Council’s commitment that each child who goes to school in the borough has access to 11 outstanding cultural experiences by Year 11.
Since September 2020, we have focused on ways in which we can challenge inequalities through creative and cultural learning. We delivered three sessions this year, reaching 33 people.
This year, Islington Council commissioned Cubitt for a fourth year to deliver four workshops.
This programme has strengthened our partnership with Islington Council’s Cultural Enrichment team, increased our connections with practitioners and cultural organisations, including Heart n Soul and Action Space which both focus on supporting artists with disabilities, and built our network of Islington educators. We plan to use these as a basis for delivering workshops related to our programme once this current delivery period ends.
“The whole thing was brilliant. It was amazing to work closely with 'real' artists and seeing their collaboration is so inspiring and shows how this would work in the real world.”
“It was really good to have inclusion modelled in facilitation rather than talked about.”
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Trustees' report (continued) For the year ended 31 March 2023
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70 Conversations - Jubilee Project
70 Conversations was a collaboration with local anti-apartheid heritage organisation The Liliesleaf Trust UK (TLTU), and Arts and Media School Islington (AMSI). Building on last year’s Remote Connections project, 70 Conversations connected different generations in Islington.
Working with artists Lucy Steggals and Mai Omer, 12 Islington community members and 16 students from Arts and Media Islington (AMSI) looked at traditions of public gatherings to strengthen communities and make change, as well as ways to share stories.
Over a series of workshops, both groups co-created activities, entertainment and decorations for Not a Tea Party, a public event in Wray Crescent - a green space next to AMSI - which was attended by over 100 people. Tea and cake were provided by Hillside Catering, a local social enterprise which supports people who’ve experienced mental health challenges.
Audio recordings made throughout the project and at the event were edited into a 20 minute podcast.
The project was a great opportunity to strengthen partnerships with AMSI and TLTU, develop our intergenerational practice and platform community voices. Learning from the project will inform our Reclaim Islington programme.
“I’ve made friends here. We’ll keep in touch. I don’t want this afternoon to end,” Community member
- “It was a great experience overall and something new for all of us.” AMSI student
“This event made my day. I saw the students in a different light,” AMSI staff member
Podcast - 18.50 - 19.18
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Trustees' report (continued) For the year ended 31 March 2023
Objectives and activities (continued)
Saturday Socials
In 2022-2023, Saturday Socials have continued to work with artist Lucy Steggals. Between April 2022 and January 2023, we have worked with 25 participants with 116 attendances. They began with Body_ House the culmination of a six-month project exploring the parts of a house that let things in and out (doors, windows, taps, letterboxes etc.)
The final outcome was a public event inviting participants and audience members to transform themselves into a house and chat to other houses. This was their first public event since the pandemic and their first live broadcast live on Cubitt's Community Radio in partnership with studio member Andi Amirshah. We have continued to maintain contact with our community of older people via bi-monthly emails and monthly phone calls with a selection of participants who appreciated a check-in.
Over the summer we met at Culpeper Garden to keep in contact with members who are still avoiding meeting indoors. Since the autumn the group has begun a new project ‘Weaving Warmth in response to the living crisis. Weaving Warmth is an experimental project exploring emotional and physical warmth, safety and connection for other Islington older residents, through sharing and participating in collective experiences in public and shared spaces. The group will lead takeovers in public spaces in the spring and summer next year.
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- ‘Today it was fantastic - like always. So glad to be back and see so many friends’ - Saturday Socials member
‘Really enjoyed being back here. Wonderful to work with a new medium and explore freely with materials’ -
Saturday Socials member
‘Being together is worth all the warmth in the world’ - Saturday Socials member
‘Another fantastic session. Such amazing energy from everyone. Don't change the format there is enough scope to fire everyone's imagination.’ - Saturday Socials membe r
Mildmays
This year we have begun to get to know residents at The Mildmays again. The Mildmays is an extra care setting with over 100 flats - who we have been working with for several years - with two onsite Cubitt Satellite artists studios. In July we ran a cyanotype workshop working outside with botanicals directly from their garden - with residents feeding back it was a ‘magical’ session.
From September 2022 Artist Charlene Sandy has been running monthly workshops exploring natural dyeing techniques. Over four months we have worked with 27 different participants, with over 47 interactions.
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This work is the lead-up to reactivating our two onsite Satellite artists studios with year long residencies to begin in February.
‘Blinding session’ - Linda
‘I loved it. I'm glad you invited me’ - Sybil
‘What a wonderful session- they loved it-great atmosphere-thank you both so much. We look forward to having you back in 2023!’ - Marian Howell - Activities Co-ordinator
Going Greener Community Engagement
During 2022, Cubitt delivered Going Greener, a project supported by Islington Giving. The fund invited local organisations to consider their impact on the environment and how they can operate in more environmentally friendly ways.
As part of this project, Cubitt ran listening sessions with people from our local communities during autumn 2022. We also surveyed our staff and artist members. We wanted to better understand what the Earth Crisis means to the people we work with and whether they think Cubitt and other cultural organisations have a responsibility to respond.
This publication shares some of the community members’ answers and offers some further reflections on these workshops and how we can have meaningful conversations about the Earth Crisis.
Thank you to Islington Giving, students and staff from Arts and Media School Islington, Lydia Ashman, and the community members who took part in the workshop.
Partner organisations
Caledonian Clock Tower, Company Three, Into Film, Islington Council’s Cultural Enrichment and School Improvement Teams, Islington Museum, Little Angel Theatre, October Gallery, Mildmays, Notting Hill Genesis, The Austin Hope Pilkington Trust, The Liliesleaf Trust, Cripplegate Foundation, Culpeper Community Garden, L’Angelo Cafe, Action Space, LIFT Islington Youth Hub.
Partner schools
Archway Children’s Centre, Ambler Primary, Ashmount Primary, The Bridge School, The Courtyard School, Dallington School Nursery, Drayton Park Primary, Duncombe Primary, Gillespie Primary, Hanover Primary, Highbury Quadrant Primary, Laycock Primary, Newington Green Primary, Pooles Park Primary, Prior Weston Primary School, St Andrew's Primary, St Jude & St Pauls Primary, St John Evangelist RC Primary , St John's Upper Holloway Primary, St Mark's Church of England Primary School, SS. Peter & Paul Primary, Tufnell Park Primary, Yerbury Primary.
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Intergenerational Work at Cubitt
33.6% of Islington’s older population live in households experiencing income deprivation (ONS, 2019]- A key beneficiary for Cubitt’s community activities for 15 years, our data tell us that older peoples’ involvement in our creative activities reduced loneliness, supported wellbeing and built social ties. This was achieved through monthly onsite Saturday Socials workshops, community outreach workshops with Age UK, All Change and Islington Giving across 4 care settings & community centres with partners like Notting Hill Genesis looking to extend our partnership of embedded studios into other boroughs in London.
i. Attendance and Engagement
Visitors
2,091 visitors to the gallery
852 participants in community activities over 69 sessions
Audiences according to Annual Survey:
29% BPOC (Black People of Colour) 19% Disabled
Majority of audience are hearing of us through word of mouth, and social media and newsletters are also encouraging people to visit. 88% visitors are 'promoters' - they would be extremely likely to recommend Cubitt to others. All visitors completing the survey said the quality of the exhibition and the whole experience was either Good or Very Good. 28% of our audience were first timers to Cubitt.
j. Cubitt Studios
Studio Provision 2022 - 2023 :
The studios continue to provide an affordable space for artists in central London, a reality which is becoming increasingly rare as urban development pushes up rents and property availability. Cubitt’s central London location means it is accessible for a wide range of visitors and artists from all over London and the UK. The studio holders devote a significant portion of their time to running the organisation and are involved in all decision making.
Studio members’ responsibility to the Cooperative:
Cubitt studio artists share day to day duties of building management, studio allocation, and working with Programmes to help deliver the Cubitt gallery programme. Members are organised into three main committees: Programmes to work alongside the programme director and gallery and education staff; Operations Committee which deals with operational matters and finance and Studio Management Committee which works to keep the studios running well and endeavours to increase our membership diversity.
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Studio occupancy:
We are 30 artists in 28 studios. We have a studio policy of advertising vacant studios widely and not just taking in people we know. The platforms for advertising vacant studios have been better researched and we try to target younger artists who bring energy to the organisation and for whom we can provide a secure place and community within which to develop their practice. We have an anonymous selection panel who review applications, and we strive to widen our community of people of colour within the studios. We have sought to make a structural change to the admissions policy by having members of the Seeds committee on the admissions panel. Seeds represents members of staff or studio holders from diverse and POC backgrounds. We are always aware of new advice on how to become more diverse and how to do this better and more effectively. Recent new members have increased our community diversity. We ask members to fill in an application form where we prioritise those most willing to help the studio community. We employ a studio manager one day per week, to work with the studio committee.
Our Lease:
We are now well into our new 5 year lease (dated 24.04.21) with MB Associates: our landlord, which has a rolling break clause which can be triggered after the 2 year point (24.04.23). However, we have held open and cordial meetings with the landlord, and have no reason to believe that the lease will not run it’s full term. Our relationship with the landlord continues to be a much more congenial one than in previous years now that they have returned to managing their own buildings, and which had always stood us in good stead in the past. We are now liaising directly with them again and the trust we had established in the old relationship has returned.
Upgrades to fire safety and fabric of the building:
The 2nd payment for the new Fire Alarm paid in 2023? 3rd Payment to be made later in 2023 Upgrades to the electrics for EICR compliance, corridor lighting and emergency lighting was completed in November 2022 (The 2nd part of this remedial works bill is still to be received from Wiktor)
In order to make the corridors compliant with the Fire Risk Assessment Dereck and Jamie built a Kitchenette and Mail Cupboard: (Completed Nov 2022) and an Outdoor Storage area (completed Dec 2022) COSSH compliant fire proof Lockers were found by Dereck, upgraded by SMC members and installed 2022-Jan 2023
1st Wifi MESH minor upgrade installed 2022 by Jamie
Coronavirus and Hygiene:
Some of our members are living with serious long term health issues so we have taken steps to minimise risk to them. We continue to implemented strict hygiene and safety measures for all members using the site, to follow. We have decided to keep Titi employed as our cleaner for the foreseeable future.
Achievements and performance
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 16
Cubitt Artists Limited
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2023
b. Reserves policy
Cubitt Studios: Studios aims to hold £75,000 in reserves, which approximates six months running costs. At the end of the year, reserves totalled £195,227 (2022: £132,529). This comprises £195,227 (2022: £114,092) of unrestricted funds and £nil (2022: £18,437) of restricted funds.
Cubitt Programmes: Programmes aims to hold £100,000 in free reserves by the year ended 31 March 2026, which approximates six months running costs. At the end of the year, reserves totalled £42,859 (2022: £100,565). This comprises £nil (2022: £75,867) of unrestricted funds and £42,859 (2022: £24,698) of restricted funds.
c. Principal risks and uncertainties
Cubitt’s premises are leased on a commercial basis and are not subject to Landlord & Tenant Act protection. As a result, at the end of the current Lease, the charity has no security of tenure and may need to relocate which would be problematic in central London.
Structure, governance and management
a. Constitution
The Charity is registered as a charitable company limited by guarantee, with a registered charity number 1049653, and was set up by a Memorandum of Association on 21 September 1992.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co opted under the terms of the Articles of Association. Each year one third of the Trustees retire by rotation at the AGM. They may put themselves for re-election and there is currently no limit on the length of a Trustee’s service. The members of the company are the artists and they elect the trustees at the AGM. If a Trustee resigns during the year between AGMs, then the Trustees may co-opt a person to join the Board but their term of office will end at the AGM, subject to the members re-appointing them.
Page 17
Cubitt Artists Limited
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2023
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) 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 Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
P Kanning Trustee Date: 29 April 2024
Page 18
Cubitt Artists Limited
(A company limited by guarantee)
Independent examiner's report
For the year ended 31 March 2023
Independent examiner's report to the Trustees of Cubitt Artists Limited ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.
Responsibilities and basis of report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 29 April 2024
Stephen Moss BSc (Hons) ACA
Kreston Reeves LLP
Chartered Accountants London
Page 19
Cubitt Artists Limited
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2023
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Other income 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2023 £ 60,214 - - - 60,214 60,490 60,490 (276) 43,135 (276) 42,859 |
Unrestricted funds 2023 £ 167,140 148,771 51 200 316,162 310,894 310,894 5,268 189,959 5,268 195,227 |
Total funds 2023 £ 227,354 148,771 51 200 376,376 371,384 371,384 4,992 233,094 4,992 238,086 |
Total funds 2022 £ 167,471 152,500 12 - 319,983 |
|---|---|---|---|---|
| 266,196 266,196 |
||||
| 53,787 | ||||
| 179,307 53,787 233,094 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 22 to 36 form part of these financial statements.
Page 20
Cubitt Artists Limited
(A company limited by guarantee) Registered number: 02748849
Balance sheet As at 31 March 2023
| Note Fixed assets Tangible assets 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total net assets Charity funds Restricted funds 16 Unrestricted funds 16 Total funds |
6,561 29,781 242,438 278,780 (41,485) |
2023 £ 791 237,295 238,086 42,859 195,227 238,086 |
6,561 20,474 250,840 277,875 (45,810) |
2022 £ 1,029 232,065 |
|---|---|---|---|---|
| 233,094 | ||||
| 43,135 189,959 |
||||
| 233,094 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
P Kanning Trustee Date: 29 April 2024
The notes on pages 22 to 36 form part of these financial statements.
Page 21
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
1. General information
The Charity (10496563) is a private company (02748849) limited by guarantee, incorporated in England and Wales. The members of the company are the Trustees named on page 1. 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.
It's registered office is 8 Angel Mews, London, N1 9HH.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements are presented in Great British Pounds and are rounded to the nearest pound.
Cubitt Artists Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The trustees have, at the time of approving the financial statements, a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 22
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Short-term leasehold property Straight line over 5 years - Fixtures and fittings Straight line over 5 years - Computer equipment Straight line over 5 years
2.7 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Page 23
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
2. Accounting policies (continued)
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.11 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.12 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.13 Fund accounting
General funds are unrestricted funds which 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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 24
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
3. Income from donations and legacies
| Donations Grants Fundraising Donations Grants |
Restricted funds 2023 £ 6,703 53,511 - 60,214 Restricted funds 2022 £ 16,292 37,001 53,293 |
Unrestricted funds 2023 £ - 114,158 52,982 167,140 Unrestricted funds 2022 £ 20 114,158 114,178 |
Total funds 2023 £ 6,703 167,669 52,982 227,354 |
|---|---|---|---|
| Total funds 2022 £ 16,312 151,159 167,471 |
4. Income from charitable activities
| Studio Gallery Education Studio Education |
Unrestricted funds 2023 £ 145,576 2,744 451 148,771 Unrestricted funds 2022 £ 151,623 877 152,500 |
Total funds 2023 £ 145,576 2,744 451 148,771 |
|---|---|---|
| Total funds 2022 £ 151,623 877 152,500 |
Page 25
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
5. Investment income
| Unrestricted funds 2023 £ Bank interest 51 Unrestricted funds 2022 £ Bank interest 12 Other incoming resources Unrestricted funds 2023 Total funds 2023 £ £ Corporation tax rebate 200 200 |
Total funds 2023 £ 51 |
|---|---|
| Total funds 2022 £ 12 |
|
| Total funds 2022 £ - |
6. Other incoming resources
7. Analysis of expenditure on charitable activities Summary by fund type
| Studio Gallery Education Governance costs |
Restricted funds 2023 £ 1,500 14,718 44,272 - 60,490 |
Unrestricted funds 2023 £ 174,760 59,949 72,585 3,600 310,894 |
Total 2023 £ 176,260 74,667 116,857 3,600 371,384 |
|---|---|---|---|
Page 26
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
7. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
| Studio Gallery Education Governance costs |
Restricted funds 2022 £ - 28,824 73,850 - 102,674 |
Unrestricted funds 2022 £ 40,808 73,423 44,791 4,500 163,522 |
Total 2022 £ 40,808 102,247 118,641 4,500 266,196 |
|---|---|---|---|
8. Analysis of expenditure by activities
| Studio Gallery Education Governance costs Studio Gallery Education Governance costs |
Activities undertaken directly 2023 £ - 26,304 15,538 - 41,842 Activities undertaken directly 2022 £ - 25,887 29,162 - 55,049 |
Grant funding of activities 2023 £ - 1,813 - - 1,813 Grant funding of activities 2022 £ - 21,720 - - 21,720 |
Support costs 2023 £ 176,260 46,550 101,319 3,600 327,729 Support costs 2022 £ 40,808 54,640 89,479 4,500 189,427 |
Total funds 2023 £ 176,260 74,667 116,857 3,600 371,384 |
|---|---|---|---|---|
| Total funds 2022 £ 40,808 102,247 118,641 4,500 266,196 |
Page 27
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
8. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Exhibition expenses Education expenses Artist's fees Events & hospitality Exhibition expenses Education expenses Artist's fees Events & hospitality |
Gallery 2023 £ 7,349 - 16,940 2,015 26,304 Gallery 2022 £ 12,559 - 10,980 2,348 25,887 |
Education 2023 £ - 1,346 14,192 - 15,538 Education 2022 £ - 13,388 15,560 214 29,162 |
Total funds 2023 £ 7,349 1,346 31,132 2,015 41,842 |
|---|---|---|---|
| Total funds 2022 £ 12,559 13,388 26,540 2,562 55,049 |
Page 28
Cubitt Artists Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Legal & professional Insurance Utilities General office expenses Computer costs Travel & subsistence Fundraising Audit & accountancy Repairs & maintenance Rent & rates Artist's fees Events & hospitality Independent examination fee |
Studio 2023 £ - - 1,396 673 4,883 842 1,655 - 50,704 213 30,995 76,239 8,631 29 - 176,260 |
Gallery 2023 £ - - 2,908 1,207 136 708 168 - 11,500 405 3,466 18,249 7,803 - - 46,550 |
Education 2023 £ 79,245 237 1,080 - - 652 2 71 - - 11 9,556 10,158 307 - 101,319 |
Governance costs 2023 £ - - - - - - - - - - - - - - 3,600 3,600 |
Total funds 2023 £ 79,245 237 5,384 1,880 5,019 2,202 1,825 71 62,204 618 34,472 104,044 26,592 336 3,600 327,729 |
|---|---|---|---|---|---|
Page 29
Cubitt Artists Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
8. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Staff costs Depreciation Legal & professional Insurance Utilities General office expenses Computer costs Fundraising Bank charges Audit & accountancy Repairs & maintenance Recruitment & training Rent & rates Artist's fees Events & hospitality Independent examination |
Studio 2022 £ - - - 501 2,853 380 1,960 - - 617 9,827 - 20,390 4,140 140 - 40,808 |
Gallery 2022 £ - - 59 932 - 861 4,813 8,500 50 1,173 3,895 50 18,250 16,057 - - 54,640 |
Education 2022 £ 68,717 266 - - - 267 535 - - - 56 89 9,556 9,993 - - 89,479 |
Governance costs 2022 £ - - - - - - - - - - - - - - - 4,500 4,500 |
Total funds 2022 £ 68,717 266 59 1,433 2,853 1,508 7,308 8,500 50 1,790 13,778 139 48,196 30,190 140 4,500 189,427 |
|---|---|---|---|---|---|
9. Independent examiner's remuneration
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 3,600 | 4,500 |
10. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 76,953 748 1,544 79,245 |
2022 £ 67,034 907 776 |
|---|---|---|
| 68,717 |
Page 30
Cubitt Artists Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
10. Staff costs (continued)
The average number of persons employed by the Charity during the year was as follows:
| Education Administration |
2023 No. 2 2 4 |
2022 No. 5 1 6 |
|---|---|---|
No employee received remuneration amounting to more than £60,000 in either year.
Remuneration paid to key management personnel totalled £27,165 (2022: £24,000).
11. Trustees' remuneration and expenses
During the year ended 31 March 2023, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL).
12. Tangible fixed assets
| Cost At 1 April 2022 At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 |
Short-term leasehold property £ 47,176 47,176 47,176 - 47,176 - - |
Fixtures and fittings £ 10,261 10,261 10,261 - 10,261 - - |
Computer equipment £ 1,187 1,187 158 238 396 791 1,029 |
Total £ 58,624 58,624 |
|---|---|---|---|---|
| 57,595 238 57,833 |
||||
| 791 | ||||
| 1,029 |
Page 31
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
13. Stocks
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Finished goods and goods for resale | 6,561 | 6,561 |
14. Debtors
| Due within one year Trade debtors Prepayments and accrued income Tax recoverable |
2023 £ 1,070 28,511 200 29,781 |
2022 £ 20,474 - - |
|---|---|---|
| 20,474 |
15. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2023 £ 3,640 34,245 3,600 41,485 |
2022 £ 2,083 - 43,727 |
|---|---|---|
| 45,810 |
Page 32
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
16. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Education Gallery Studio Total of funds Statement of funds - prior year Unrestricted funds General Funds Restricted funds Education Gallery Arts Council England Total of funds |
Balance at 1 April 2022 £ 189,959 43,135 - - 43,135 233,094 Balance at 1 April 2021 £ 86,791 62,729 - 29,787 92,516 179,307 |
Income £ 316,162 24,059 34,655 1,500 60,214 376,376 Income £ 266,690 44,162 6,238 2,893 53,293 319,983 |
Expenditure £ (310,894) (51,435) (7,555) (1,500) (60,490) (371,384) Expenditure £ (163,522) (63,756) (6,238) (32,680) (102,674) (266,196) |
Balance at 31 March 2023 £ 195,227 |
|---|---|---|---|---|
| 15,759 27,100 - 42,859 |
||||
| 238,086 | ||||
| Balance at 31 March 2022 £ 189,959 |
||||
| 43,135 - - 43,135 |
||||
| 233,094 |
Page 33
Cubitt Artists Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
16. Statement of funds (continued)
Nature and purpose of restricted funds
Education
£30K was received from Freelands Foundation to support our Reclaim Islington project. Reclaim Islington is a two-year programme funded by Freelands Foundation and Art Fund which supports Islington communities with lived experience of exclusion to collectively explore their narratives, stories and shared histories. The fund covers the cost of running artists studios at AMSI, Cubitt Artists to hire of a new Civic Fellow and a new Education Programme coordinator.
£1,000 received from The Austin Hope Pilkington Trust as a general contribution to Reclaim Islington project.
£5,104 received from The Liliesleaf Trust UK (TLT), to support the delivery of, 70 Conversations, an intergenerational project bringing together older and younger Islington residents to share their stories. This was as a result of a joint bid TLT and Cubitt Artists made to Arts Council England’s Jubilee Fund, with TLT holding the funding.
£8,150 was received from Islington Council’s Culture Bank programme as part of our ongoing work 11x11 delivering artist led CPD workshops for educators in Islington exploring topics such as access, equity and social justice through creative methodologies and discussions.
£10,805 from Cripplegate Foundation to support our creative programme for older people in Islington. The programme includes monthly onsite sessions for long-running ‘Saturday Socials’ a group of local older makers - (sessions led by artist Lucy Steggals) and offsite sessions for residents at Mildmays, an extra care home in Islington (sessions led by artist Charlene Sandy).
£2,885.44 in payments from Islington Council to support our Kickstart employee, Sam Castro, who worked with Cubitt for 6 months.
Gallery
£400 from Goldsmiths College University Of London towards the running of the 2023 edition of Cubitt’s annual Goldsmiths Archive project.
Page 34
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
17. Summary of funds
Summary of funds - current year
| General funds Restricted funds Summary of funds - prior year General funds Restricted funds |
Balance at 1 April 2022 £ 189,959 43,135 233,094 Balance at 1 April 2021 £ 86,791 92,516 179,307 |
Income £ 316,162 60,214 376,376 Income £ 266,690 53,293 319,983 |
Expenditure £ (310,894) (60,490) (371,384) Expenditure £ (163,522) (102,674) (266,196) |
Balance at 31 March 2023 £ 195,227 42,859 238,086 |
|---|---|---|---|---|
| Balance at 31 March 2022 £ 189,959 43,135 233,094 |
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2023 £ 791 42,068 - 42,859 |
Unrestricted funds 2023 £ - 236,712 (41,485) 195,227 |
Total funds 2023 £ 791 278,780 (41,485) 238,086 |
|---|---|---|---|
Page 35
Cubitt Artists Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2023
18. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2022 £ 1,029 42,106 - 43,135 |
Unrestricted funds 2022 £ - 235,769 (45,810) 189,959 |
Total funds 2022 £ 1,029 277,875 (45,810) 233,094 |
|---|---|---|---|
19. Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £1,544 (2022: £776). Contributions totalling £Nil were payable (2022: £Nil) to the fund at the balance sheet date and are included in creditors.
20. Operating lease commitments
At 31 March 2023 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2023 £ 102,665 210,955 313,620 |
2022 £ 102,665 410,660 513,325 |
|---|---|---|
21. Related party transactions
The Charity has not entered into any related party transaction during the year (2022: £nil), nor are there any outstanding balances owing between related parties and the Charity at 31 March 2023 (2022: £nil).
22. Controlling party
The Charity is controlled by its Trustees.
Page 36