2021-03-31-accounts - Wolverhampton Arts Centre

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FOR THE YEAR ENDED $1MARCH 2021
	Notes	Un estrkted	Restdcted	Total	Total
				2021	2020
		E	E	E	E
INCOME AND ENDOWMENTS FROM:
Donations and legades		6,252		6,252	4,261
Charitable acthltles
Grants		$10,6$3	171,525	482,158	203,518
Earned income		73,696		73,696	382,746
Other income		242		242	578
Investment income		565		565	383
Total blcollle and Endovrments		$91388	171525	562,913	591,486
EXPENDITURlh
Charitable actlvidesr
Direct costs		17,3$9	9,184	26,523	131,160
Support costs		310PI9	24,280	335,129	379,818
Ralsln8 funds		9.504		9,504	8~2
Total Expendkure		337,692	33,464	371,156	519,780
NET INCOME/(EXPENDITURE)		53,696	138,061	191,757	71,706
Transfers between Funds		64,890	(64,890i
Fund balances at 1April 2020		258,425	16,478	274,903	203,197
TOTAL FUNDS CARRIED FORWARD AT$1
MARCH 2021		$77411	89649	~660	27 903

		2021	2020
		E	E
FBIEDASSETS
Tangible assets	10	49,380	19,125
CURRENT ASSETS
Stock Debtors	11 12	8,247	4,388 7,609
Cash at bank and in hand		466,686	273,086
		474,933	285,083
CREDITORS
Amounts falling due within one year	13	(57,653)	(29,305)
NET CURRENT ASSETS		417,280	255,778
TOTAL ASSET5 LESSCURRENT LIABIUTIES		466,660	274,903
FUNDS
Unrestricted funds	15	377,011	258,425
Restricted funds	16	89,649	16,478
TOTAL FUNDS		466,660	274,903

				Notes	2021	2020
					E	E
Cash provided by operating activities				a	229987	80476
Cash flows from investing acthiities:
	Interest income				565	383
	Purchase oftangible fixed assets				(36,951)	(5,846)
Cash provided by/(used in) Investing		activities			36,386	5,463
Increase/decrease in cash and cash		equivalents in the year			193,601	75,413
Cash and cash equivalents at the beginning ofthe year				b	273,085	197,672
Cash and cash equivalents at the end ofthe year				b	466,686	273,085
a	Reconciliation ofnet income/(expenditure)		to net cash flow from		operating activities
					2021	2020
					E	E
	Net (expenditure)/income	for the year as per the SOFA			191,757	71,706
	Adjusted for:
	Depreciation				6,696	2,839
	Loss on fixed asset disposals
	Investment income				(565)	(383)
	(Increase)/decrease in stock				4,388	3,338
	(Increase)/decrease in debtors				(638)	23,529
	Increase/(decrease) In creditors				28,349	(20,153)
	Net cash provided by operating activities				229,987	80,876
b	Analysis ofcash and cash equivalents
					2021	2020
					E	E
	Cash at bank and In hand				466686	273,086

20 DONATIONS AND	20 DONATIONS AND	LEGACY INCOME Unrestricted	LEGACY INCOME Unrestricted	Designated	Restricted	Total	Total
			Funds f	Funds f	Funds f	2021	2020 f
Fundraising and donations			6,252 6,252			6,252 6,252	4,261 4,261
3. GRANTS RECEIVABLE
			Unrestricted	Designated	Restricted	Total	Total
			Funds f	Funds f	Funds f	2021 f	2020 f
The Co-op Children &the Arts/StartArt							7,518 15,000
Arts Council England			224,744		85,636	310,380	180,000
Wolverhampton Inner Wheel	City Council		47,750			47,750	1,000
CjRS Funding			38,139			38,139
Esmee Falrbairn					46,290	46,290
Postcode Neighbourhood		Trust			15,000	15,000
james Beattie Charitable		Trust			2,000	2,000
Edward and Dorothy Cadbury Trust					1,500	1,500
Rolands Trust					3,849	3,849
LCEP					8,000	8,000
Children in Need					9,250	9,250
			310,633		171,525	482,158	203,518
4. EARNED	INCOME
			Unrestricted	Designated	Restricted	Total	Total
			Funds	Funds	Funds	2021	2020
			f	f	f	f	f
Rental income			56,701			56,701	115,509
Theatre and room hire			13,785			13,785	128,144
Show income			1,778			1,778	78,339
Workshop income							1,048
Barand vending	machine	income	1,432			1,432	59,706
			73,696			73,696	382,746
5. OTHER	INCOME
			Unrestricted	Designated	Restricted	Total	Total
			Funds	Funds	Funds	2021	2020
			f	f	f		f
Miscellaneous	Income		242			242	578
			242			242	578

				Unrestricted	Designated	Restricted	Total	Total
				Funds	Funds	Funds	2021	2020
				E		E	E	f
Direct Costs
Show costs				1,305			1,305	68,132
Workshops				5,905		8,500	14,405	20,014
Catering and bar				5,510		684	6,194	37,810
Printing and	publicity			4,619			4,619	5,204
				17,339		9,184	26,523	131,160
Support Costs
Staff costs				214,871		20,746	235,617	242,229
Training and	recruitment							1,204
Offic costs	and	administration		3,102			3,102	2,348
Rent								10,000
Rates and water				7,496			7,496	10,831
Ught and heat				17,529			17,529	25,743
Insurances				2,129			2,129	2,469
Maintenance	of	premises		12,063			12,063	25,895
Cleaning				45,502			45,502	41,887
Licenses and affiliation Telephone and broadband				1,3012'			1,301 2,402	4,075 1,311
Travel and entertaining				23			23	409
Bank and credit card charges				710			710	829
Miscellaneous expenses				(2,940)			(2,940)	4,365
l.egal and professional			fees	749			749	316
Accounting fees				2,750			2,750	3,068
Depreciation				3,162		3,534	6,696	2,&39
				310,849		24,280	335,129	379,818
Total Operational		Costs		328,188		33~	361,652	510,978
7. FUNDRAISING
				Unrestricted	Designated	Restricted	Total	Total
				Funds	Funds	Funds	2021	2020
				E	f	E	E	E
Fundraising	expenses			9,504			9&504	8,802
				9,504			9,504	8,802

NOR THS ygAR SN	DSD 31MAhCH 2021
10. TAN4lblg	PIXSOASSSTS
		pbdures,	Computer
		Flfflngs R	Shulpment	Total
		ghuip	6	6
		e
Cost At 1April 2020		50~	7,688	58W5
Additions		35,961	990	36,951
Olsposals
At 31March 2021			S678	95326
Depreclatlon
At 1April 2020		32,121	7,129	39,250
Charge for the year		6180	516	6696
At31March 2021		38301	7645	45946
Net book Value		48,347	1,033	49,3SO
At 31March 2021
At 31March 2020			559	19125
11. STOCK
				2021	2020
				E	E
bar					3AXHI
Vending machine					1300
					4,388
12. DSSTDRS
				2021	2020
				E	6
Trade debtors Other debtors and prepayments				7,108 1139	5,140 2~
				8247

		Balance at	Incoming	Resources	Transfers	Balance at
		1April	Resources	Expended	Between	31March
		2020			Funds	2021
		E			E	E
The Co-op		6,033				6,033
Capital	Purchase-		22,349	(4,218)		18,131
Tent
Arts Council England			85,636	(20,746)	(64,890)
Esmee	Fairbairn		46,290			46,290
LCEP			8,000	(8,000)
Children	in Need		9,250			9,250
StartArt		10,445		(500)		9,945
		16,478	171,525	(33,464)	(64,890)	89,649