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2024-03-31-accounts

REGISTERED NUMBER 3185119 REGISTERED CHARITY NUMBER: 1055584

FABRICA

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FABRICA (LIMITED BY GUARANTEE)

CONTENTS OF THE FINANCIAL STATEMENTS

Page
Legal and Administrative Information 1
Trustees’ Annual Report 2 – 13
Independent Examiners Report 14
Statement of Financial Activities 15
Balance Sheet 16
Statement of Cash Flows 17
Notes to the Financial Statements 18 - 27

FABRICA (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2024

Trustees N Aldred – appointed 11/12/23
P Murray – resigned 11/12/23
L Bristow
N Tandavanitj
R Beales
C H Collard – resigned 26/09/23
H J Walker
D Emilianos
B Moore – resigned 11/12/23
L Rodwell
Company secretary H J Walker
Charity number 1055584
Company number 03185119
Principal address and 40 Duke Street
Registered Office Brighton
BN1 1AG
Senior staff L Whitehead – Fabrica co-director
S Holdgate – Finance manager
C Hankinson – Fabrica co-director
E Venner and S Connellan – Commercial managers
Independent Examiner VMR Anderson BA (Hons) FCA DChA
Clark Brownscombe Limited
2 St Andrews Place
Lewes
BN7 1UP
Bankers CAF Bank
25 Kings Hill
West Malling
Kent
ME19 4JQ
Metro Bank
One Southampton Row
London
WC1B 5HA

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

Trustees Report for year end 31 March 2024

The Trustees are pleased to present their report together with the unaudited financial statements of the Charity for the year ending 31 March 2024.

Overview

During 2022-23 Fabrica’s programme and activities returned to normal following the coronavirus pandemic.

In November 2022, Fabrica heard it had been unsuccessful in securing a further two-years' core funding (for the April 2023-March 2025 period) from Arts Council England, a funder who has provided some form of regular core funding since 2000. This decision meant that Fabrica would face significant challenges from the 2023-24 financial year including changing its business model, programming strategy, staff structure and its work with volunteers. The changes the Trustees have made to the operation are outlined in detail below, and are briefly summarised here:

Making these significant changes was ameliorated by Fabrica securing a one-off grant from Arts Council England to support its transition out of ACE’s ‘regularly funded organisation portfolio’ that was effective between April and November 2023.

The Trustees believe that the financial statements comply with current statutory requirements, the Charity’s governing document and the Statement of Recommended Practice.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Fabrica was incorporated as a company limited by guarantee on 12 April 1996 and registered as a charity on 19 June 1996. Its governing document is its Memorandum and Articles of Association.

Organisational structure

Fabrica is governed by a Board of Trustees; these volunteers are trustees of the charity and members of the company. The minimum number of trustees is three. There is no maximum. Ten trustees served in 2023-24.

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

The Board meets at least four times a year, at quarterly intervals, and the Annual General Meeting usually precedes the December Board meeting.

A Financial Management sub-committee of the Board was established some years previously, but from January 2024, the Trustees agreed to introduce a new quarterly Financial Scrutiny meeting instead, in order to keep the entire board informed and up to date on financial developments. Other working groups of trustees and staff (and third parties where helpful) are convened to support specific areas of work such as reviewing health and safety; maintenance and capital development of the building; and fundraising to Trusts & Foundations. Individual trustees also undertake tasks in support of the executive team, notably recruitment of management roles, meetings with partners and funders and advising on matters that fall within their area of expertise (e.g. building maintenance, capital development and planning-related issues and the development of organisational policies).

In 2023-24 the Trustees were:

Paula Murray , Chairperson (Retired Head of Culture, Croydon Council) until December 2023 Nannette Aldred , Chairperson, from December 2023

Richard Beales , Vice Chairperson (former Strategic Manager, Artswork South East Bridge organisation - concerned with children and young people’s engagement in the arts and culture; Director of Jehane Ltd Helen Walker , Company Secretary (Lecturer in urban planning at University of Brighton, policy consultant and specialist in sustainable communities)

Louise Bristow – (Artist)

Carolyn Collard , (Head of Governance, Glyndebourne) until September 2023 Darren Emilianos – (GP/Health sector expertise)

Bethany Moore – (Fundraiser, Glyndebourne) until December 2023 Lee Rodwell (Fundraiser, University of the Arts, London) Nick Tandavanitj – (Artist)

There is currently no minimum or maximum term of office, but the composition, development and capacity of the Board are regularly reviewed against the organisations upcoming needs, risks and opportunities. Potential trustees are recruited by advertising the role through Fabrica's website and networks, supported by word-of-mouth marketing. Trustees are selected on the basis of their experience of life (personal and professional), skill and capacity. Candidates are interviewed by at least one trustee, usually the Chairperson, and a Co-Director before attending a Board meeting as an observer. If both parties are keen to proceed, the trustee is elected at the next Board meeting they are able to attend. New trustees can be elected at any point in the year and are confirmed in office at the AGM. New trustees receive an induction pack, which provides a comprehensive introduction to the organisation and sets out their responsibilities. Active recruitment for new trustees began in January 2024.

Staffing

In 2023-24 Fabrica’s team of 10 part-time posts were led by Co-Directors, Liz Whitehead and Clare Hankinson who were directly responsible for strategic organisational development, the artistic programme and oversight on audience development, learning and participation, fundraising and financial management working closely with the Finance Manager, Shonge Holdgate.

The remaining staff for 2023-24 were: Administrator – Peter Stonhold, Commercial Manager - Elin Venner (on maternity leave until February 2024) and Sally Connellan (maternity cover), Communications Manager - Laura London (until June 2023), Office & Communications Coordinator – Petra Giffard, Fundraiser (Trusts & Foundations) and Project Manager – Sally Bourner, Production Manager - Valerie Furnham (on maternity leave from June 2023) and Cleaner - Iris Madariaga.

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

The team was supported in 2023-24 via two paid workers on placement (Engagement Producer Placements), funded by The Art Fund Student Opportunities grant, at one day per week for 12 months each: Rose Grover (undertaking a Masters in Children's Book Illustration at Cambridge School of Art) and Mia Jones (a BA Fine Art Student at Kingston University).

Several employees are practising artists or have other creative freelance careers and this part-time working culture has reaped rewards in retaining a highly motivated and creative staff team. Fabrica also draws on a pool of freelance project managers, artist facilitators and animateurs and a considerably reduced, but highly valued, team of regular volunteers to deliver its mission. In 2023-24 these volunteers supported key areas of our public programme; working with artist-facilitator Helen Goodwin to deliver Chomp creative lunch clubs for low-income families, and devising and delivering engaging and informative heritage tours to showcase the history of our 200-year-old building.

Partnerships

In 2023-24 Fabrica received grants and monies for services towards its health, creative engagement and learning programmes from: Brighton & Hove City Council and NHS CCG as part of UOK (for Men in Sheds), Art Fund, Brighton District Nurses Fund, Brighton Lions Club, Film Hub SE and BFI FAN, Chalk Cliff Trust, East Brighton Trust, Heads On (SPFT), Rampion Community Grants, Paley Trust, Percy Bilton Charity and Sussex Community Foundation. Funds were also contributed towards joint activities by partners One Church (Chomp), Brighton MET, Downs View Link College, East Sussex College, Little Learners and UK Men’s Sheds Association and Film programming partners BFI, Brighton Rocks, Cinecity, Platform Asia, ProjectOurs, Screen Shot, Short Circuit and videoclub and Music programming partners The Great Escape and Sofar Sounds.

Fabrica retained its long-standing partnerships with Brighton Photo Fringe, Spectrum Photographic and Jane & Jeremy book publishers for its annual In Between Gallery exhibition in Fabrica’s picture window. And The Living Coast (Brighton & Lewes Downs Biosphere) with whom Co-Director, Liz Whitehead has developed a number of short, funded, artist residences that highlight the work and goals of The Living Coast. Co-Director, Clare Hankinson is a regular contributor to the health, wellbeing and learning networks for older and young people that are active in the city. Other partners with whom Fabrica is developing arts and/or artist development collaborations include: Outside In, Photoworks, Dreamy Place (Digital Festival), Sound Art Brighton, Brighton Visual Arts Coalition (BVAC) a new network focused on strengthening the visual arts infrastructure and offer in the city after a series of setbacks and losses since 2022.

Risk management

Fabrica has a risk management policy and practice which helps it to anticipate risks, assess their likely impact and plan how to reduce and manage them. Fabrica's Trustees and Executive have identified the following key risks, which are discussed regularly at Board meetings to ensure adequate controls are in place.

INCOME

  1. Failure to deliver on our commercial strategy: our strategy focuses on a range of existing and new commercial channels to spread risk. It is underpinned by strong market research and is being implemented by experienced and commercially focused staff and overseen by the Co-Directors who report on progress to targets at eight Trustees’ Meeting each year. Capital improvements will be necessary over the coming years to ensure we keep our competitive edge in the market for hires.

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

  1. Failure to deliver our fundraising plans: We recognise that there is increasing pressure on public and private funders. Fabrica increased its capacity to fundraise from lower and higher value trusts and foundations in light of these challenges. Our commercial income strategy is our primary way to mitigate this risk. It is proving itself to be successful, but we are operating in a very competitive environment.

GOVERNANCE

  1. Not having the right board for Fabrica’s situation: Following the loss of support from a major supporter, the organisation is transitioning to an earned income model and its public facing programme is substantially different. Fabrica’s Chair of Trustees led the necessary change process for the Board and Executive from November 2022. This included a review of Trustees’ roles and long-term commitment to the organisation. New skill sets and priorities were identified, and consequently, the make-up of the Board has and will continue to change in line with this. There has been an active process of trustee recruitment in place since January 2024.

CAPACITY

  1. Key members of the team becoming ill or leaving the organisation: Fabrica has a strong network of freelance artists, practitioners and project managers who are increasingly supporting our operations, including fundraising, project coordination, report writing and programme staffing. Financial forecasting and monitoring are shared by the senior team; two Co-Directors and the Financial Manager, supported by the Administrator. We continually focus on skills development to ensure staff can 'act up' when required.

  2. Inability to deliver our planned activity due to lack of capacity: Fabrica has a small team and a broad and ambitious remit of work. Our skilled freelancers, volunteers, placements and interns all play an important role in ensuring we are able to deliver against our objectives and we include budget provision in all projects for additional project management.

EXTERNAL FACTORS

  1. The impact of major events, such as the coronavirus pandemic on Fabrica’s income, activity and practice. Faced with a pandemic of the scale of the 2020-21 Covid-19, Fabrica would not have been able to trade without the government support initiatives that were introduced. Mitigating this risk in the future, Fabrica will: continue to build its reserves through earned income; engage with audiences using digital methods as well as face to face; maintain rigorous health and safety practices for staff and public at Fabrica’s events, exhibitions and offices.

Public benefit

In shaping our objectives and planning our activities for the year, the Trustees have given due consideration to the duties set out in the Charities Commission published guidance as required by section 17(5) of the Charities Act 2011.

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

The Trustees have considered how the planned activities contribute to the overall aims and objectives that they have set, and have taken the guidance into account when taking any decision to which it is relevant.

The paragraphs 'Objectives and Activities' and 'Achievements and Performance', detail the benefits that Fabrica provides to the public.

More specifically Fabrica's public benefit is defined as:

OBJECTIVES AND ACTIVITIES

The Charity's objectives are to promote, maintain, improve and advance education, particularly by the encouragement of the visual arts and places where they may be practised and where art and artefacts may be exhibited, with particular reference to the education of the public and the encouragement of the arts in Sussex and other parts of the United Kingdom.

Up until 2022, Fabrica commissioned and presented large-scale contemporary visual art installations in response to its unique space, a former Regency chapel located in the centre of Brighton. In 2022, as Fabrica did not retain its substantial annual arts subsidy from ACE, the organisation pivoted to commissioning and producing smaller scale visual art projects, though these continue to be very rich vehicles for learning. Fabrica encourages an open dialogue between artists and visitors within the gallery space and online, and produces a wide-ranging programme of education and audience development activity that explore the themes and production processes of the work and the artists it presents. In this way, Fabrica strives to remove the barriers to access, engagement and understanding of art that many people experience.

From April 2023, Fabrica’s programme comprises four interlinked strands of activity:

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

In summary, Fabrica is working to develop creative talent and build new audiences for contemporary art by:

ACHIEVEMENT AND PERFORMANCE

Charitable activities from April 2023 to March 2024

The total number of beneficiaries* from 1 April 2023 - 31 March 2024 is: Actual: 8040 event and activity attendees, with Fabrica Men in Sheds delivering 1172 hours of contact time with 410 attendances.

Estimated: c.350,000 In Between Gallery viewers

Total 358,040

*The actual number of visits to Fabrica’s programmes and participations in Fabrica’s activities.

Artistic Programme

Fabrica was able to deliver a full programme for audiences from April 2023-March 2024.

THE IN BETWEEN GALLERY

Each year Fabrica works in partnership with Brighton Photo Fringe, Spectrum Photographic and Jane & Jeremy publishers to create a platform for less well-known photographers and lens-based artists by using Fabrica’s picture window in Duke Street as an exhibition site. The In Between Gallery (IBG) draws in the partners expertise and marketing networks to advertise the opportunity via an open call. The 2022-23 the IBG selection also involved independent curators Cairo Clarke and Ibrahim Azab. From mid-December until end of April 2023, the In Between Gallery presented 'Many Happy Days' by Duncan Poulton. The image, a digital collage, reflects on the last few years when our collective days have been filled with the bleakness that comes with facing our own mortality. Photographer Fion Hung Ching-Yan was selected to show two images:

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

‘Stealing Oranges to Take Home for His Mother’ from June-August 2023 and ‘Tears That Brought Bamboo Shoots from the Frozen Earth’ from September-November 2023. As part of the opportunity, Fabrica made a short film about Fion, her background as an artist working between London and Hong Kong, and the series of works from which these two images were selected. Fion gave an artist talk (10 July 2023) and produced an Instagram Takeover about the series. The Skeletons in The Closet (2021) is a photo collage project whereby the artist challenges Chinese stereotypes and moralisations via the 24 Paragons of Filial Piety , which Fion uses as a visual metaphor to talk about family expectations, selfidentity and the pain that her and her family have inflicted on each other. In her image making, Fion uses a surrealist approach to subvert her family's authority within their traditional values and in doing so, creates a reality that can never be seen in real life.

In November 2023 Christian Jago's image 'Spring' was selected from his series “Ephemeral Bloom” (2023). 'Spring' depicts a time of love and new beginnings and was exhibited until May 2024. Based in Colchester, Essex, Christian specialises in world-building and special effects in his photography, using his practice to respond to places and stories that inspire him, and constructing immersive visual spaces through which people can temporarily step outside of reality. He predominantly hand-builds miniature-scale sets using techniques such as moulding and casting. The resulting sets are then meticulously lit, and photographed. As part of the opportunity, Christian gave a talk about his work at a sold out Photographers’ Networking event at Fabrica on 7 February 2024.

MAKING SPACE & EXPERIMENTAL PROJECTS

Every year Fabrica makes its space available to artists to test new ground in their practice, opening up the possibility to use the space at Fabrica in imaginative ways, and for artists to experiment with new ways of working or trial a new or work-in-progress piece with an audience.

In 2023-24 Fabrica was able to support artist Kerry Lemon with the development of her work in progress piece, M R S R O E with a four-day residency 9-13 October. Kerry’s work explores botany, herbal knowledge, and the female body from a feminist perspective, and how historic and contemporary power structures have shaped the interrelationship between these areas of knowledge and the power women have over their own bodies. During her Making Space residency, Kerry focused on female dislocation from our eco-cultural heritage through a common abortive plant - the tansy. She presented a series of photographs, sculptures, drawings and films as a work-in-progress exhibition installation for a public viewing and artist talk on 12 October, 6.30-8pm. And worked on a live performance artwork for an invited audience on 10 October 2023. Kerry used these two events to discuss her ideas and working process and invited feedback.

Fabrica also supported artist collective, Rapture between 25-29 March 2024 to create a banquet-based art event at Fabrica on the evening of 28 March. One aspect of their residency was for Rapture Collective to test and develop how they could make these happenings more financially sustainable in the longer term by working out what kind of partnerships might be possible with arts organisations.

OTHER PROJECTS

Swimming a Long Way Together: Sea Lanes, Brighton 13-15 October 2023

We completed the final stage of this multi-year project at Sea Lanes, the new National Centre for openwater swimming. This large-scale community swimming event linked to the Swimming a Long Way Together exhibition that preceded it at Fabrica in October 2022, and was a reimagining of Mercedes Gleitze’s record-breaking pool swim at Herne Baths in Worthing in 1933. Our event took place across 47 hours, mirroring the exact time that Mercedes Gleite had taken to achieve the world record for endurance swimming at Herne Baths in 1933, but shifting the emphasis from an historical individual effort to a contemporary collective and communal celebration – with over 200 local swimmers, and 50 performers participating to “keep the swim going” across the two days.

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

THE LIVING COAST ARTIST RESIDENCIES

The Living Coast (TLC) Artist Residencies are a paid opportunity for artists and makers living and/or working in The Living Coast area. A partnership project between Fabrica, The Living Coast (Brighton, Hove & Lewes Downs UNESCO Biosphere) and ONCA gallery, artists are selected via open call. Whilst no residences took place 2023-24, Fabrica was able to develop a new funded partnership for the residency in February 2024 with Dr Catherine Kelly at University of Brighton. The opportunity was advertised via open call in March and April 2024 and was delivered May-July 2024.

FILM PROGRAMME

Fabrica’s year-round film programme was able to deliver over 40 in-person film screening and associated events. Fabrica collaborated with existing and new partners to present a mixture of grant-funded and partnership-supported activities.

A new programme of family-friendly screenings was developed with support of Film Hub South East: ‘Watching Together’ presented animation and stop-motion films and providing hands-on creative activities to engage and develop young audiences. Watching Together complimented our Into Film Festival screening for educational groups.

We co-presented an array of short films made by artists and emerging filmmakers, with partners videoclub, Platform Asia, Short Circuit, Cinecity and Brighton Rocks and artist-filmmaker Rowan Jacqueline.

Fabrica led on the regional film programmers network, Screen Shot and coordinated a partnership autumn project, ‘Dual Delights’ as part of the Powell & Pressburget BFI season. We led a partnership with 2 other venues, Saltdean Community Cinema and White Wall Cinema, with each venue presenting two screenings, first a Powell & Pressburger title, and a second screening which was inspired by the first. The programme also included performances, life drawing and talks to further explore and engage with the content.

We continued our monthly sessions with Fresh Perspectives, Fabrica’s film programmers club for 1825yrs, who curated and ran quarterly film screenings; Cleo from 5 to 7, Kajillionaire, Jennifer’s Body and My Beautiful Launderette.

Associated with the Fresh Perspectives programme, we developed a broader offer for young people interested in developing in the film industry with a BFI supported project, BFI Academy. From October 2023-March 2024 we presented a range of events and screenings to engage and inform, including talks on turning your passion into a career and skills development workshops on tape loop making and animation. We had three BFI Recommends titles screenings: Boogie Nights, Life on The Farm and Girlhood for International Women’s Day and a BFI collaborative screening for the Future Film Festival.

ENGAGEMENT AND LEARNING

Fabrica prides itself on being an open, safe and accessible organisation. Our historic venue is wheelchair accessible and heated so that all visitors, but particularly older visitors/people with disabilities can be comfortable. Our programme remained free or at low cost, with ‘pay as you can’ pricing on selected events and activities.

In 2023-24 Fabrica was able to present a busy programme of over 200 events and activities for a range of participants at the gallery and in community settings. Our broad offer provided enjoyable, meaningful and creative opportunities to participants and audiences that also benefitted mental health and wellbeing and increased engagement with arts and culture across and beyond the city.

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

With a mixture of free, pay-what-you-can and costed events, Fabrica offered an accessible programme for low-income audiences whilst also developing financially sustainable new programmes.

Chomp at Fabrica (creative arts activities for low income families) ran during school holidays, and Messy Play (0-5yrs), delivered by partner Little Learners, took place on a monthly basis.

I have loved this course and don't want it to end.... I love the sense of achievement on completing a project. I would love to do a follow-on course and would recommend the course to anyone with mental health problems." - Renew & Repurpose participant

Our community-based arts and wellbeing programmes continued to grow and develop, reaching targeted audiences across the city:

Men in Sheds and Men Who Make continued to gain national recognition as our men’s creative mental health programme was featured as a best practice case study in the Baring Foundation’s Creatively Minded Men report in February 2024.

Working with my hands to create things has been surprisingly effective to give sense of wellbeing. I left every session better than how I arrived. Thank you for this opportunity, feeling very grateful for it. Mark and James have both been good at holding a nice, safe, comforting space. Please continue these sessions, that is my only improvement recommendation.’ - Men Who Make participant

Fabrica cultivated 60+ partnerships to reach and work with our targeted audience groups, including:

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

FUNDRAISING STRATEGY & INCOME GENERATION

Fabrica promotes a mixed model of income from public/statutory, Trusts and Foundations, earned income, corporate sponsorship and individual giving.

In November 2022 we began planning our exit strategy from the National Portfolio which commenced in April 2023. Fabrica was successful in applying to the Arts Council England NPO Transition Fund which provided seven months support in 2023-24 to ease this exit and move Fabrica into a new phase of operation. We have instigated the transition of restructuring Fabrica’s income and activities based on this, balancing our reliance on commercial income generation and delivering our charitable aims through a radically modified arts and engagement programme.

In common with most creative organisations, Fabrica is having to re-balance its income model in the short and long term. Fabrica’s fundraising strategy has continued to prioritise the growth of commercial income, largely through venue and workstation hires, shop sales and café/bar sales. In part this is because of its higher short-term returns and the fact that income raised is unrestricted, but also due to the overall reduction of public funds, most significantly the loss of ACE’s support in the form of regular funding, from April 2023.

Fabrica began to grow Individual Giving as an income stream in 2019, launching a membership scheme which had steadily grown to a modest but valued number by 2022. Following the distinct changes in our artistic programming, we retained this number in 2023-24. Inviting venue hire customers to donate deposits provided some additional individual giving, as well as focusing on increasing event-related donations and our annual Christmas appeal.

VENUE HIRE

Fabrica hires out its Grade II listed building for wedding receptions, parties and other events, raising its profile within the city and generating vital earned income to support the organisation and its charitable work. In 2023-24 we increased our availability for wedding hires, and have seen an uplift in bookings for 2024-25 which provide much needed unrestricted funds for the organisation.

We continued to operate and develop the café-bar and our gallery and online shop alongside private and public events, though our income dropped without the exhibitions programme to support access to the gallery shop.

DONATIONS

Financial support from our communities came through a combination of venue and online donations as well as through our membership scheme and annual Christmas giving campaign. Fabrica achieved a total of £6,308 in donations this year.

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

TRUSTS AND FOUNDATIONS

During the year in review, Fabrica was successful in raising funds from Art Fund, Brighton District Nurses Fund, Brighton Lions Club, Film Hub SE and BFI FAN, Chalk Cliff Trust, East Brighton Trust, Heads On (SPFT), Rampion Community Grants, Paley Trust, Percy Bilton Charity and Sussex Community Foundation.

RESERVES POLICY

The level of reserves is monitored by the Trustees at its quarterly meetings and our unrestricted reserves are currently considered to be reasonable at £120,000 (3.5 months expenditure), and £25,000+ building sinking fund. Reserves are held to provide working capital especially in situations where funding is retrospective.

PLANS FOR FUTURE PERIODS

As outlined in overview at beginning of this report, Fabrica faced significant challenges following the loss of a major funder.

In terms of business planning, since November 2022, the trustees have and are continuing to concentrate on:

STATEMENT OF TRUSTEES’ (DIRECTORS’) RESPONSIBILITIES

The Trustees are responsible for preparing this Trustees’ Report and the attached 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 year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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FABRICA (LIMITED BY GUARANTEE) TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2024

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.

By Order of the Board: ………………………………….

Nannette Aldred (Chair) - Trustee/Director

Date:

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INDEPENDENT EXAMINERS REPORT

FABRICA (LIMITED BY GUARANTEE)

I report on the financial statements of the charity for the year ended 31st March 2024, which are set out on pages 15 to 27. .

Responsibilities and basis of report

As the charity’s trustees of the company (and also 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 company 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 your charity’s accounts as 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 report

Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants in England and Wales 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:

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.

Victoria Anderson BA(Hons) FCA DChA Clark Brownscombe Limited Chartered Accountants and Statutory Auditors 2 St Andrews Place Lewes East Sussex BN7 1UP Date: ………………………..

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FABRICA (LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE STATEMENT) FOR THE YEAR ENDED 31ST MARCH 2024

Note
Unrestricted
Funds
Restricted
Funds
ACE
Restricted
Capital
Grant
Total
2024
£
£
£
£
INCOME FROM
Donations and legacies
3
118,119
100,087
-
218,206
Charitable activities
5
- Artistic programmes
25,729
20,470
-
46,199
Other trading activities
4
157,381
-
-
157,381
Rental income
12,243
-
-
12,243
Investment income
1,808
-
-
1,808
Total before Museum
and Galleries Tax Relief
315,280
120,557
-
435,837
Museums and Galleries Tax Relief
44,542
-
-
44,542
Total
359,822
120,557
-
480,379
EXPENDITURE ON
Raising funds
6
71,483
-
-
71,483
Charitable activities
7
231,892
108,250
18,851
358,993
Total
303,375
108,250
18,851
430,476
Net movement in funds
56,447
12,307
(18,851)
49,903

RECONCILIATION OF FUNDS
Total funds brought forward
128,877
8,847
320,941
458,665
Total funds carried forward
185,324
21,154
302,090
508,568		 2023
£
293,718
55,234
121,493
10,637
628
481,710
21,538
503,248
74,158
544,902
619,060
(115,812)
574,477
458,665

The detailed 2023 comparative statement of financial activities is reported in note 2.

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

The notes form part of these financial statements

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FABRICA (LIMITED BY GUARANTEE)

BALANCE SHEET AS AT 31ST MARCH 2024 COMPANY NUMBER: 03185119

Note

FIXED ASSETS
Tangible fixed assets
11
CURRENT ASSETS
Debtors
12
Cash in hand and in bank
CURRENT LIABILITIES
Creditors: amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
Creditors: amounts due after more than one year
14
NET ASSETS
FUNDS
Unrestricted funds
19
Restricted funds
20
TOTAL FUNDS		 2024
£
133,180
234,110
367,290
132,063		 £
309,182
235,227
544,409
35,841
508,568
185,324
323,244
508,568		 2023
£
329,713
64,256
209,342
273,598
98,506
175,092
504,805
46,140
458,665
128,877
329,788
458,665

The company is entitled to exemption from audit conferred by Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements in accordance with Section 476 of the Companies Act 2006.

The trustees confirm that they are responsible for:

The financial statements were approved by the Board of Trustees on ………………………….. and were signed on its behalf by:

N Aldred (Chair) – Trustee/Director

The notes form part of these financial statements

Page: 16

FABRICA (LIMITED BY GUARANTEE)

STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31ST MARCH 2024

Note
Cash flow from operating activities
Cash generated from operations
15

Interest paid
Cash flows from investing activities
Interest and rent receivable

Cash flows from financing activities
Capital repayments in year

Net increase/(decrease) in cash and cash equivalents

Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
22

2024
£
17,334
1,917
15,417
14,051

(4,700)

24,768

209,342
234,110		 2023
£
(96,175)
-
(96,175)
11,265
(3,860)
(88,770)
298,112
209,342

The notes form part of these financial statements

Page: 17

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company , which is a public benefit entity under FRS 102, have been prepared in accordance with the Charites SORP (FRS102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019)’, Financial Reporting Standard FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and on that basis the charity is considered to be a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income is deferred when fees are received in advance of the event to which they relate.

Grants

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Where grants have been received for capital projects the costs have been capitalised on the Balance Sheet and depreciation, in accordance with the accounting policies, has been charged against that income.

Grant income is only deferred when:

Donations and other income

Donations and other income is recognised on the receipt of cash.

Investment Income

Investment income is recognised on an accruals basis.

Donated goods and services have not been recognised in the financial statements.

Page: 18

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis including irrecoverable VAT and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure is classified under the following activity headings:

Costs of generating funds - comprise those costs incurred in venue hire and fundraising events.
Charitable activities - comprises all expenditure directly relating to the production of the events.
Support costs - include those incurred in the governance of the charity and its assets and are
primarily associated with constitutional and statutory requirements.

Tangible fixed assets

Fixed assets are capitalised and the cost written off over their useful economic lives as follows:

Leasehold improvements - period of lease. Computer equipment - 1/3rd straight line basis

Assets costing more than £1,000 are capitalised.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Pension costs

The charity operates a defined contribution scheme for staff as from April 2016 administered by NEST. The employer contribution is 3% and the employee contribution is 5%.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases

Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the term of the relevant lease.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Page: 19

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments. The trustees seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

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.

2. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Arts Council Arts Council
England
Restricted 2023
Unrestricted Restricted Capital Grant Total
£ £ £ £
INCOME FROM
Donation and legacies 209,058 84,660 - 293,718
Charitable activities
- Artistic programmes 12,410 42,824 - 55,234
Other trading activities 121,493 - - 121,493
Rental income 10,637 - - 10,637
Rental income 628 - - 628
Total before Museum and Galleries Tax
Relief 354,226 127,484 - 481,710
Museums and Galleries Tax Relief 21,538 - - 21,538
Total 375,764 127,484 - 503,248
EXPENDITURE
Raising funds 74,158 - - 74,158
Charitable activities 385,582 140,469 18,851 544,902
Total 459,740 140,469 18,851 619,060
Net movement in funds (83,976) (12,985) (18,851) (115,812)
RECONCILIATION OF FUNDS
Total funds brought forward 212,853 21,832 339,792 574,477
TOTAL FUNDS CARRIED FORWARD 128,877 8,847 320,941 458,665

Page: 20

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

3. DONATIONS AND GRANTS

Donations
Grants:
-Arts Council England – Core grant
-Heritage lottery fund – Past Present Future
-Sussex Community Foundation
-Southdowns Community Roots
-University of Sussex
-Kickstart
-Arnold Clark Community Fund
-Chalk Cliffe Trust
-Brighton District Nurses
-Aberystwyth University Internship
-Brighton and Hove City Council - Warm Welcome
-Hall and Woodhouse Community grant
-The Freelands Foundation
-Student opportunities grant
-Brighton Lions
-BUPA
-Paley Trust
-Heads On (NHS Partnership)
-Heritage Lottery Grant - Swimming a Long Way Together
4.
OTHER TRADING ACTIVITIES
Venue hire (including bar sales)
Shop and Café Sales
5. INCOME FROM CHARITABLE ACTIVITIES
Artistic programmes
-Ticket sales and event income
-Groundwork UK
-Brighton Soup
-Asda Foundation
-Independent Cinema Office
-Film Hub South East
-Film Hub Midlands
-Veolia
-Brighton Dome and Festival – partnership
 2024
£
6,179
105,497
-
15,750
18,997
-
-
-
5,040
2,500
-
-
-
600
8,957
200
446
800
17,492
35,748
218,206
2024
£
155,996
1,385
157,381
2024
£
28,138
375
-
-
17,186
-
-
500
-
46,199		 2023
£
13,174
180,842
9,990
-
22,322
6,000
9,692
1,000
5,000
4,000
3,000
350
2,600
-
-
-
-
-
-
35,748		 2023
£
13,174
180,842
9,990
-
22,322
6,000
9,692
1,000
5,000
4,000
3,000
350
2,600
-
-
-
-
-
-
35,748
293,718
2023
£
108,206
13,287
121,493
2023
£
20,563
1,125
1,071
1,250
2,212
3,412
13,840
-
11,761
55,234

Page: 21

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

6.
RAISING FUNDS
Cost of venue hire
Café expenses
Shop expenses
7. CHARITABLE EXPENDITURE
Unrestricted
Restricted
DIRECT COSTS
£
£
Premises costs
Rent
5,612
-
Rates and water
1,690
-
Insurances
8,420
-
Light and heat
4,601
-
20,323
-
Gallery costs
Repairs and maintenance
30,154
3,347
Salaries, artists curators’ fees and
exhibition costs
170,378
104,903
200,532
108,250
Other direct costs
Printing, postage and stationery
1,429
-
Telephone
1,140
-
Training and development
-
-
Depreciation
1,680
18,851
4,249
18,851
225,104
127,101
SUPPORT COSTS
Governance costs
Auditors’ remuneration
-
-
Auditors’ remuneration for
non-audit work
-
-
Accountancy
4,325
-
Bank charges
205
-
Bank loan interest
1,917
-
Trustees’ meeting expenses
341
-
6,788
-
TOTAL
231,892
127,101		 2024
2023
£
£
68,998
52,693
1,796
11,751
689
9,714
71,483
74,158
2024
Total
2023
Total
£
£
5,612
5,612
1,690
2,447
8,420
10,471
4,601
5,479
20,323
24,009
33,501
5,877
275,281
484,193
308,782
490,070
1,429
2,210
1,140
1,341
-
-
20,531
20,531
23,100
24,082
352,205
538,161
-
3,105
-
3,140
4,325
205
435
1,917
341
61
6,788
6,741
358,993
544,902

Page: 22

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging

Operating lease rentals – property
Auditors’ remuneration
Auditors’ remuneration (non-audit work)
Accountancy
Depreciation		 2024
£
5,612
-
-
4,325
20,531		 2023
£
5,612
3,105
3,140
-
20,530

9. TRUSTEES’ REMUNERATION

No Trustees, or connected persons, received any remuneration or reimbursed expenses during the year.

10. STAFF NUMBERS AND COSTS

The average number of employees during the year was 12 (2023: 17) calculated on a monthly head count. No employee received emoluments over £60,000.

The aggregate payroll costs in respect of these employees were:-

Wages and salaries
Social Security costs
Pension Contributions		 2024
£
159,013
4,863
3,006
166,882		 2023
£
253,550
17,257
4,456
275,263

The key management personnel of the charity comprise the trustees along with the director, business manager and financial administrator. Total employee benefits of the key management personnel were £65,427 (2023: £54,357).

11. TANGIBLE FIXED ASSETS

Long
Leasehold
Computer
Equipment
£
£
Cost
As at 1 April 2023 and 31 March 2024
673,708
21,782
Depreciation
As at 1 April 2023
345,210
20,567
Charge for the year
19,317
1,214
As at 31 March 2024
364,527
21,781

Net Book Value
As at 31 March 2024
309,181
1
As at 31 March 2023
328,498
1,215		 Total
£
695,490
365,777
20,531
386,308
309,182
329,713

Page: 23

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

12. DEBTORS
Trade debtors
Other debtors
13. CREDITORS: AMOUNTS FALLING DUE WITHIN
ONE YEAR
Bank loan
Trade creditors
VAT
Other creditors
Deferred income

Accruals


14. CREDITORS: AMOUNTS FALLING DUE AFTER
MORE THAN ONE YEAR
Loan
15. RECONCILIATION OF NET (DEFICIT)/SURPLUS TO
NET CASH ONFLOW FROM OPERATING ACTIVITIES
Net surplus/(deficit) for the year

Finance costs
Interest received

Rental income

Depreciation
(Increase)/decrease in debtors

Increase/(decrease) in creditors

Net inflow/(outflow) from operating activities
 2024
2023
£
£
88,654
42,718
44,526
21,538
133,180
64,256
20242023
£
£
5,599
-
14,706
584
6,476
5,904
503
1,909
100,779
78,414
4,000
11,695
132,063
98,506
2024
2023
£
£
35,841
46,140
2024
2023
£
£
49,903(115,812)
1,917
-
(1,808)
(628)
(12,243)
(10,637)
20,531
20,530
(68,924)
(13,707)
27,958
24,079
17,334
(96,175)

Page: 24

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

16. SHARE CAPITAL

Fabrica is a company limited by guarantee registered in England and Wales and has no share capital. No one member has overall control of the company.

In accordance with clause 7 of its Memorandum of Association every member of the charity undertakes to contribute such amount as may be required (not exceeding £10) to the charity’s assets if it should be wound up while he or she is a member or within one year after he or she ceases to be a member.

If the charity is wound up or dissolved and after all its debts and liabilities have been satisfied there remains any property it shall not be paid or distributed amongst the members of the charity but shall be given or transferred to some other charity having similar objectives.

The company’s registered number and registered office address can be found in the ‘Legal and Administrative Information’ section of the financial statements.

17. RELATED PARTY DISCLOSURE

There were no related party transactions for the year ended 31 March 2024 (2023: Nil).

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible
Fixed
Assets
Net
Current
Assets
Creditors
due after
more than
one year
2024
Total
£
£
£
£
Arts Council England
– Restricted Capital Grant
302,090
-
-
302,090
Restricted
-
21,154
-
21,154
Unrestricted
7,092
214,073
(35,841)
185,324
309,182
235,227
(35,841)
508,568		 2023
Total
£
320,941
8,847
128,877
458,665

ANALYSIS OF NET ASSETS BETWEEN FUNDS (Prior Year)

Tangible
Fixed
Assets
Net
Current
Assets
Creditors
due after
more than
one year
2023
Total
£
£
£
£
Arts Council England
– Restricted Capital Grant
320,941
-
-
320,941
Restricted
-
8,847
-
8,847
Unrestricted
8,772
166,245
(46,140)
128,877
329,713
175,092
(46,140)
458,665		 2022
Total
£
339,792
21,832
212,853
574,477

Page: 25

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

19. UNRESTRICTED FUNDS

Balance Income Expenditure Expenditure Balance at
At 1 April 31 March
2023 2024
£ £ £ £
Unrestricted Funds
General Reserves 128,877 359,822 (303,375) 185,324
UNRESTRICTED FUNDS (Prior Year)
Balance Income Expenditure Balance at
At 1 April 31 March
2022 2023
£ £ £ £
Unrestricted Funds
General Reserves 212,853 375,764 (459,740) 128,877
RESTRICTED FUNDS
Balance
Balance Income Expenditure at
At 1 April 31 March
2023 2024
£ £ £ £
Arts Council England – Restricted
Capital grant 320,941 -
(18,851)		 302,090
Various – Men in Sheds 3,507 18,997
(18,704)		 3,800
Heritage Lottery Fund - SALWT - 35,748
(35,748)		 -
Audience Development 4,025 38,919
(30,533)		 12,411
Brighton Dome and Festival 1,315 -
(1,315)		 -
Art Students - 8,957
(4,534)		 4,423
Film – Various - 17,186
(17,186)		 -
Artist Resource - 750 (230) 520
329,788 120,557 (127,101) 323,244

UNRESTRICTED FUNDS (Prior Year)

20. RESTRICTED FUNDS

Page: 26

FABRICA (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

20. RESTRICTED FUNDS (Prior Year)
Balance
Balance Income Expenditure at
At 1 April 31 March
2022 2023
£ £ £ £
Arts Council England – Restricted
Capital grant 339,792 -
(18,851)		 320,941
Various – Men in Sheds 4,946 24,922
(26,361)		 3,507
Heritage Lottery Fund - SALWT - 35,748
(35,748)		 -
Heritage Lottery Fund - PPF - 9,990
(9,990)		 -
Audience Development 16,886 11,203
(24,064)		 4,025
Brighton Dome and Festival - 11,761
(10,446)		 1,315
Aberystwyth University - 3,000
(3,000)		 -
Film – Various - 24,860
(24,860)		 -
Sussex University - 6,000 (6,000) -
361,624 127,484 (159,320) 329,788

21. OPERATING LEASE COMMITMENTS The minimum lease payments falling due for operating leases expiring in more than five years is £25,000.

22. CASH AND CASH EQUVALENTS

22. CASH AND CASH EQUVALENTS
Cash and cash equivalents
Cash and cash equivalents
23. ANALYSIS OF CHANGES IN NET DEBT
At
Net cash
Cash at bank and in hand
Debt
Debts falling due within one year
Debts falling due after one year


Total		 2024
2023
£
£
234,110
209,342
2023
2022
£
£
209,342
298,112
1 April
2023
Cashflow
At 31 March
2024
£
£
£
209,342
24,768
234,110
-
(5,599)
(5,599)
(46,140)
10,299
(35,841)
(46,140)
4,700
(41,440)
163,202
29,468
192,670


(41,440)

192,670

Page: 27