2021-03-31-accounts - Blast Theory

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Page
Report ofthe Trustees	2	to	11
Independent Examiner's Report		12
Statement ofFinancial Activities		13
Balance Sheet	14	to	1S
Cash Flow Statement		1G
Notes tothe CashFlowStatement		17
Notes to the Financial Statements	18	to	27

					2021	2020
		Unrestricted	Restricted	Restricted	Total	Total
		Funds	funds	Development	funds	funds
	Notes	E
INCOME AND
ENDOWMENTS FROM Donations and legacies						1,429
Charitable activities Artistic Productions		335,381	14,180		349,561	563,199
Other trading activities Investment income		137 5,508			137 5,508	4,167 9,043
Total		341,026	14,180		355,206	577,838
EXPENDITURE ON
Charitable activities Artistic Productions Support costs	6	84,506 303,943	14,180	14,356	84,506 332,479	255,523 327,011
Total		388,449	14,180	14,356	416,985	582,534
NET INCOME/[EXPENDITURE]		(47,423]		(14,356]	(61,779]	[4,696)
Transfers between funds	17	28,391	-	[28,391]
Net movement in funds		[19,032]		(42,747)	[61,779)	[4,696]
RECONCILIATION OF
FUNDS
Total funds brought forward		322,006		138,411	460,417	465,113
TOTAL FUNDS CARRIED FORWARD		302,974		95,664	398,638	460,417

			2021	2020
		Notes	E	E
FIXEDASSETS Tangible assets		13	99,155	116,027
CURRENT ASSETS Debtors Cash at bank and in hand		14	34,215 354,857	46,074 350„342
			389,072	396,416
CREDITORS Amounts falling due within	one year	15	[89,589]	[52,026)
NET CURRENT ASSETS			299,483	344,390
TOTAL ASSETSLESSCURRENT LIABILITIES			398,638	460,417
			398,638	460,417
FUNDS		17
Unrestricted funds: General fuhd Designated fund - furld set	up to ensure the		135,974 135,000	170,006 120,000
smooth closing ofthe charity should the need
arise. Designated fund -Artist fund to support further			32,000	32,000
project work.
			302,974	322,006
Restricted funds: SEEDA- towards leasehold improvements Arts Council of England South East -towards			9,570 86,094	14,546 123,865
leasehold improvements
			95,664	138,411
TOTAL FUNDS			398,638	460,417

Notes	2021 f	2020 E
Cash flows from operating activities Cash generated from operations	5,323	(105,606]
Net cash provided by/(used in) operating activities	5,323	[105,606]
Cash flows from investing activities Purchase oftangible fixed assets Interest received	(1,416] 608	2,243
Net cash [used in)/provided by investing activities	(808]	2,243
Change in cash and cash equivalents in the reporting period	4,515	[103,363]
Cash and cash equivalents at the beginning ofthe reporting period	350,342	453,705
Cash and cash equivalents at the end ofthe reporting period	354,857	350,342

RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING	RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING	ACTIVITIES 2021 E	2020 f
Net expenditure for the reporting Financial Activities)	period [as per the Statement of	[61,779]	[4,696]
Adjustments for: Depreciation charges Interest received Decrease in debtors Increase/(decrease) in creditors		18,289 (608] 11,858 37,563	18,045 (2,243] 79,204 [195,916]
Net cash provided by/(used in)	operations	5,323

ANALYSIS OFCHANGES IN NET FUNDS
	At 1.4.20 E	Cash flow f	At 31.3.21 E
Net cash Cash at bank and in hand	350,342	4,515	354,857
	350,342	4,515	354,857
Total	350,342	4,515	354,857

2.	DONATIONS AND LEGACIES			2021 f	2020 E
	Donations Gift aid				1,118 311
					1,429
3.	OTHER TRADING ACTIVITIES			2021	2020
				E	C
	Sales, hires Br merchandise Residency programme			137	616 3,551
				137	4,16rp
4.	INVESTMENT INCOME			2021	2020
				C	C
	Rental income Deposit account interest			4,900 608	6,800 2,243
				5,508	9,043
5.	INCOME FROM CHARITABLE	ACTIVITIES		2021	2020
	Performance fees Commissions Education Grants Trusts and foundations		Activity Artistic Productions Artistic Productions Artistic Productions Artistic Productions Artistic Productions	E 10,268 99,831 7,852 220,722 10,888	E 43,803 210,866 3,110 250,497 54,923
				349,561	563,199
	Grants received, included	in the above, are as follows:		2021	2020
					E
	Arts Council England- National Portfolio Organisation Arts Council England -Catalyst Evolve project EU Horizon 2020- GIFT project The Impeiial War Museum on behalf of 14-18NOW- Bloodyminded University ofSussex Brighton and Hove City Council HMRC - Job Retention Scheme			136,627 14,180 3,710 3,000 10,000 53,205	134,157 28,357 86,483 1,500
				220,722	250,497

CHARITABLEACTIIRTIES	OSTS
		Direct	Support
		Costs (see	costs (see
		note 7] E	note 8] E	Totalsf
Artistic Productions Support costs		84,506 19,889	312,590	84,506 332,479
		104,395	312,590	416,985
DIRECT COSTSOF CHARITABLE ACTIVITIES			2021	2020
			E	E
Freelance fees Production travel Production development costs Production marketing costs Production equipment Independent examination Depreciation			42,095 42,411 1,600 18,289	94,422 53,239 80,808 5,945 3,064 1,950 18,045
			104,395	257,473
SUPPORT COSTS				Management
				E
Support costs				312,590
Support costs, included	in the above, are as follows:		2021	2020
			Support	Total
			costs f	activities E
Employee costs Management cost Premises costs General administration Professional fees	exps		255,151 2,009 24,690 24,088 ~6652	252,607 1,369 29,408 37,356 4,321
			312,590	325,061

				2021 f	2020 E
Salaries and Employer's Employer's	wages national pension	insurance costs costs		233,570 20,871 6,908	227,931 17,838 6,838
The average	head count ofemployees		during the year was:

y , , E1,549).The agreement relating to this was made on an arms a Solicitor. This lease commenced on 20 February 2007.	y , , E1,549).The agreement relating to this was made on an arms a Solicitor. This lease commenced on 20 February 2007.	-length basis usin	g documentation	drawn up by
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted		(2020) Restricted	Restricted	Total
	funds E	funds f	Development E	funds E
INCOME AND ENDOWMENTS Donations and legacies	FROM 1,429			1,429
Charitable activities Artistic Productions	473,452	89,747		563,199
Other trading activities Investment income	4,167 9,043			4,16r 9,043
Total	488,091	89,747		577,838

12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (2020)-continued Unrestricted Restricted	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (2020)-continued Unrestricted Restricted	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (2020)-continued Unrestricted Restricted	Restricted	Tota I
		funds f	funds E	Development E	funds E
	EXPENDITURE ON
	Charitable activities Artistic Productions Support costs	202,269 327,011	38,899	14,355	255,523 327,011
	Total	529,280	38,899	14,355	582,534
	NET INCOMEf(EXPENDITURE]	[41,189]	50,848	(14,355)	[4,696)
	Transfers between funds	50,848	~50,848]
	Net movement in funds	9,659		[14,355)	[4,696]
	RECONCILIATION OF FUNDS
	Total funds brought forward	312,347		152,766	465,113
	TOTAL FUNDS CARRIED FORWARD	322,006		138,411	460,417
13.	TANGIBLE FIXEDASSETS			Fixtures
			Long leasehold E	and fittings . f	Totals f
	COST At 1April 2020 Additions		287,109	91,424 1,416	378,533 1,416
	At 31March 2021		287,109	92,840	379,949
	DEPRECIATION At 1April 2020 Charge for year		177,090 14,355	85,416 3,933	262,506 18,288
	At31March 2021		191,445	89,349	280,794
	NET BOOKVALUE At 31March 2021		95,664	3,491	99,155
	At 31March 2020		110,019	6,008	116,027

DEBTORSAMOUNTSFALLINGDUE	WITHINONEY	EAR
:				2021 E	2020 f
Trade debtors Grants receivable VAT Pre payments and accrued income				673 33,542	2,099 42,276 1,119 580
				34,215	46,074
CREDITORS:AMOUNTS FALLING DUE WITHIN ONE		YEAR		2021 E	2020 f
Trade creditors Social security and other taxes VAT Other creditors Deferred income Accrued expenses				913 5,475 8,252 71,402 3,547	366 7,963 600 41,197 1,900
				89,589	52,026
Deferred income carried forward consists ofthe following:
				2021 f	2020 f
Grant -Arts Council England (Catalyst Evolve) Gift: Belgrade Museum ofApplied Art Bloodyminded Legacy Charitable Giving Chalk Cliff Trust Wellcorne Trust The British Council				17,290 2,900 5,000 21,212 25,000	14,179 4,306 21,000 1,712
ANALYSIS OF NET ASSETS 8EIWEEN FUNDS				2021	2020
	Unrestricted	Restricted	Restricted	Total	Total
	funds	funds	Development		funds
Fixed assets Current assets Current liabilities	funds f 3,491 389,0?2 (89,589)		E 95,664	E 99,155 389,072 (89,589]	E 116,027 396,416 [52,026)
	302,974		95,664	398,638	460,417

MOVEMENTINFUNDS
			Net	Transfers
			movement	between	At
		At 1.4.20 E	in funds f	funds f	31.3.21 f
Unrestdcted funds General fund		170,006	[47,423]	13,391	135,974
Designated fund - fund set up to ensure
the smooth closing ofthe charity should the need arise.		120,000		15,000	135,000
Designated fund - Artist fund to support further project work.		32,000			32,000
		322,006	[47,423)	28,391	302,974
Restricted funds SEEDA - towards leasehold improvements		14,546	[4,976)		9,570
Arts Council ofEngland South East- towards leasehold improvements		123,865		(28,391]	86,094
		138,411	~14,356)		95,664
TOTAL FUNDS		460,417			398,638
Net movement in funds, included in	the above are as follows:
			Incoming resources E	Resources expended E	Movement in funds f
Unrestricted funds General fund			341,026	(388,449]	(47,423)
Restricted funds SEEOA-towards leaseholdimprovements				(4,976]	[4,976)
Arts Council of England South East- towards leasehold improvements				(9,380]	(9,380]
Arts Council England -Catalyst Evolve, a
project that supports orgamsations enable them to attract more private	to		14,180	(14,180]
givin g.
			14,180		[14,356)
TOTAL FUNDS					~61,779]

Comparatives for movement in funds
		Net	Transfers
	At 1.4.19	movement in funds	between funds	At 31.3.20
	E	E	E	E
Unrestricted funds General fund	151,347	[41,189]	59,848	170,006
Designated fund - fund set up to ensure the smooth closing ofthe charity should the need arise.	120,000			120,000
Designated fund - Artist fund to support further project work.	41,000		[9,000]
	312,347	[41,189]	50,848	322,006
Restricted funds SEEDA - towards leasehold improvements	19,522	[4,976)		14,546
Arts Council of England South East- towards leasehold improvements	133,244	[9,379)		123,865
EU Horizon 2020 - GIFT, a3year research
project with partners IT University Copenhagen, University ofNottingham, Next Game and the Europeana Foundation		50,848
	152,766	36,493		138,411
TOTAL FUNDS		[4,696)		460,417
Comparative net movement in funds, included	in the above are as follows:
		Incoming resources	Resources expended	Movement in funds
		E	E	E
Unrestricted funds General fund		488,091	[529,280]	[41,189]
Restricted funds SEE DA -towards leasehold improvements			(4,976)	[4,976]
Arts Council of England South East- towards leasehold improvements			(9,379]	[9,379]
EU Horizon 2020 - GIFT, a 3year research
project with partners IT University Copenhagen, University of Nottingham, Next Game and the Europeana Foundation		86,483	(35,635)	50,848
Arts Council England -Catalyst Evolve, a
project that supports organisations to enable them to attract more private		3,264	(3,264]
giving.
		89,747	~53,254]	36,493
TOTAL FUNDS		577,838