Company re81stration number: 03340600
Charity re8lstratlon nurnber: 1066687
NEWHAMPTON ARTS CENTRE
DIREcfoRS' REPORT
AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Daw Whlte Murrall
Chartered Accountants
l George Street
Snow Hlll
Wofverhampton
WV2 40G

NEWHAMPTON ARTS CENTRE
Icompany Limited by Guafantee)
Cofflpany Inlorniatlon
i Registered charity name
Newharnpion Arts Centre
Charity re8istration number
1066687
Company registration number
033406CM)
l RegiSte￿d olfKe
Dunkley Street
Wolveihampion
West Midlands
VI 4AN
TrustettlDirertors
J M 8arrow lieslened In the year)
R J Ashwell
K Frasef
M CartwrS8ht
C Shelton
R Harvey (reslgned In the year)
R Taylor
F Rlchln85
J Blunt
L Court
O Kerr
S Pallan-jhall
T Roden
W Stephens
Company secrrtary
T Wrl8ht
Accouniants
Daw While Murrall
Chartered Accountants
l Geor8e Streei
Snow Hlll
Wolverhampton
WV2 40G

NEWHAMPTON ARTS CENTrE
Icompany UmSted by Guarantee)
Report of the Trustees
13
Indeper￿ent Examiner's report
14-15
Statement of Flnancial Activltles
16
Balance Sheet
17
Cash Flow
18
Notes to the flnandal statements
1940

NEWHAMPTON ARTS CENTRE
{Company Limited by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees. who are also the directors for the purposes of company law, present their report and
the unaudited financial statements of the charity for the year ended 31 March 2024.
Structure. Governance and Management
Newhampton Arts Centre is a company limited by guarantee and not havin8 a share capital under
the Companies Act 2006 Ire8iStration number 033406001 and is registered with the Charity
Commission as a charity (registration number 10666871 under the Charities Act 2011.
The charity is governed by a Board of Trustees who are also directors. Directors are elected at the
AGM and serve for three years. They represent arts, site users, the local communlty, business and
education.
The governance of the charity Is laid out in its 8overnlng docurnent whlch is avallable on request.
Trustees Responslbllltles
The trustees are responsible for preparing the Trustees, Annual Report and the financial statements
for each financia5 year, which give a true and fair vlew of the state of affalrs of the charltable
company and of the incorning resources and application of resources, includin8 the income and
expenditure. of the charitable company for that period. In preparin8 these financial statements. the
trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and prlnclples In the Charlties SORP 2015 (FRS 102);
make ludgements and estimates that are reasonable and prudent:
state whether applicable UK Accounting Standards 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 charitable company wlll continue in operation.
The trustees are responsible for keeplnB adequate accountin8 records that disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensu
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.
Appolntment of trustees
As set out in the Articles of Associatlon, the chair of the trustees is nominated by the Board. The
trustees are elected annually by the Members of the charitable company altending the Annual
General Meeting and serve for a period of three years. They can then be re-elected for a further
three year period. The Board may recommend additional terms If the arts centre would benefit as
result. There can be up to 12 Board members.

NEWHAMPTON ARTS CENTRE
{Company Limited by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Trustee Inductlon and tralnln8
New trustees undergo an induction to brief them on their legal obligations under charity and
company law, the content of the Memorandum and Articles of Assoclatlon, the committee and
decision making processes, the business plan and recent financial performance of the charity.
During the induction they meet key employees and other trustees. Trustees are encouraged to
attend appropriate external training events where these will facilitate the undertaking of their role.
Orzanlsatlon
The board of trustees administers the charity. The board meets bl-monthly and there are actlon
groups covering development. personnel and finance which meet as required. A Chief Executive is
appointed by the trustees to direct the day to day operations of the charity. To facilitate effective
operations, the Chief Executive has delegated authority, within terms of delegation approved by the
trustees, for undertakin8 agreed strategies and operational matters includin8 finance, ernployment
and artistic programme related activity.
Rlsk management
The trustees have a rlsk management strategy whlch comprises:
an annual review of the risks the charity may face
the establishment of systems and procedures to mltl8ate those rlsks identified In the
plan
the implementation of procedures designed to mlnimise any potential Impact on the
charlty should those rlsks materlalise.
Thls ongoing work has resulted in better emergency procedures and contingency plans and gives the
irnpetus for better planning. Particular attention is focussed on non financial r15k5 arlsin8 f rom
buildings, health and safety of all site users, and food hygiene. A key element in the management of
rinanclal risk is the setting of a reserves policy and its regular revlew by trustees.

NEWHAMPTON ARTS CENTRE
(Company Llmited by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENOED 31 MARCH 2024
Publlc beneflt
The trustees have had regard to the Charity Commission's guidance on public benefit.
The Newhampton Arts Centre aims to deliver charitable public benefit by inspiring and sUPPOrtin8
those who may not regularly be involved in creative experiences, including:
children and young people
families and intergenerational groups
people with disabilitie5
people who feel on the edge of or excluded frorn mainstream society and/or who do not
tdentify themselves as arts attenders

NEWHAMPTON ARTS CENTRE
(Company Llmited by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Objertlves and actlvltles
The charity works to achleve Its alms by:
Providing a high qu311ty and supportlve venue for the perforrnance of muslc, dance,
drama and other performin8 arts, for professional and communlty use Includin8 mlnority
cultural events.
Providing good value office. rehearsal and meeting space for resident organisatlons and
appropriate groups and organisations frorn the wlder communlty.
Engaging local voluntary and professional organisations in positive cultural partnerships
and collaborations within the centre, the city and the West Midlands region.
Providlng Opportunities for youn8 people, children and famllles to partlclpate in the arts.
Promotlng the Newhampton Arts Centre as a hub for formal and informal education,
tralnlng and partlcipatlon withln the arts.
Encouraglng links and shared opportunities between organlsations to optlmlse the use
of the Newhampton Arts Centre facilitles.
Prornotlng tra5nln8 and development for staff, resldent and other organlsatlons in the
cultural industries.
Promotin8 Incluslon in the arts by addressin8 barrlers- physlcal, soclal, cultural,
economlc.
Malntainlng the economlc viability of the Newhampton Arts Centre. to sustaln the
delivery of arts opportunities.
io.
Seeking fundin8 to support new cultural opportunities.

NEWHAMPTON ARTS CENTRE
(Company Limlted by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and perfomiance
Performance Venue
NAC presented a full yearfs programme of live events in the theatre and New Horizon5 Outdoor stage
tent.
In total 138 live events were presented in the theatre and tent. There were 120 days of exhibitions
in the Gallery Hall.
Audience numbers continued to recover well from their decline during COVID and its aftermath.
Total audience for events and exhibitions was 9,99218,121 in 2022-3).
R¢)om Hlfe and Tenants
The impact of the failure of the heating system on half of the site continued to affect the numbers of
rooms available for long-term hire to residents. Funding was secured to fix the heating system with
Wolverhampton City Council. so the prospect of recovery to pre-heatin8 failure levels of occupancy
durin8 2024-5 is realistlc.
Courses and classes continued to recover and we were able to add a number of new regular cla55es
to the offer, including those from The People's Orchestra and Ma8ical MIC CIC.
Cultural Partnershlps
NAC continued to SUPPOrt the work of the Wolverharnpton Cultural Educatlon Partnershlp and
continued to employ its co-ordinator. NAC continued to deliver Holiday Activities and Food and #YES
prograrnrne activities that enabled families with young children on free school meals to access high
quality creative activities and food for free in the school holidays.
We continued to work with Black Country Touring on our adult and family theatre programmes and
we were able to bring work by Kitchen Zoo, Lyngo Theatre. Speedwell Dance, Little Seeds Music and
Scarlet Oak Theatre.
Our partnership with Jazz at Wolverhampton continued to enable us to present high-quality
contemporary touring artists in the city- includlng Jasmie Myra, David Preston, Shivraj Sin8h and
Alison Rayner. The folk programrne saw Magpie Arc. Jack Rutter. Granny's Attic, Jackie Oates and
John Spiers among the artists appearing.
NAC has become a regular venue for the Wolverhampton Literature Festival and presented talks by
Pauline Black and the Ghost Huns Podcast. We were also the venue for Wolverhampton Film
Festival, stepping in following the closure of Llghthouse to provlde a platform for this Independent
film event.

NEWHAMPTON ARTS CENTRE
(Company LAmlted by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Finally, we were able to SUPPOrt a number of independent artists to create new work. Aaron Virdee
developed new theatre in a process SUPPOrted by Tara Arts and Deaf Explorer. Early-career dance
artist Laura Hague developed a new piece and rehearsed in the dance studio. Two early-career
producers on a development scheme with Moving Souls Dance were able to contribute to the Same
Difference Festival.
Economlc Vlablllty
The year saw demand for tickets significantly increase over the previous years as audience demand
strengthened and NAC was able to rebuild its live event5 programme. The jazz programme in
particular saw significant growth in activity and audiences following Jazz at Wolverhampton's
appointment of a Jau Development Officer to support the programmln8 and marketin8.
NAC did Increase prices for room hlres and residents rentals but with the years of standstill prlces
during COVID and the steep rises in utilities costs, NAC has not caught its prices up to their relative
levels in 2019-20.
The winter of 2023 was the second in which there was no heating in the Gallery Hall block. We
continued to offer rebates to affected residents whlch affected rental income, and also moved
residents to the studio spaces from their unheated rooms, which reduced the number of rooms
available for hire. There was a consequent fall in hire space income compared to the previous year.
when the heatlng only affected the final four months.
The fall In bar incorne may be part of a wider industry trend that Is seelng per head spend declining
in the live events industry. particularly with alcohol sales.
2023-24 (£}
2022-23 (£)
Rental income
Hire space income
Show income
8ar income
99,203
89,717
87,471
40,926
91,111
104,976
64,247
46,373
Earned Income as a whole was £317,317 compared to £306,707 in 2022.23- a 3,5% rise overall in
year when rentals and hires were affected by the heatlng system fallure for the entire twelve
months.

NEWHAMPTON ARTS CENTRE
(Company Umlted by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Fundralsln8 Artlvlty
NAC continued to fundralse to support the charitable activities of the organlsation.
Funding was secured from the Archltectural Heritage Fund to commisslon architects to carry out an
Optlons Appraisal of the potential future development of the site.
The Foyle Foundation provided £20.0￿ to support the purchase of a new sound control desk and
assoclated equlpment for the theatre.
The Postcode Nei8hbourhood Trust provided core funding to support the charitable activitles of the
or8anlsatlon.
The Garfield Weston Foundatlon and the Roger and Douglas Turner Charltable Trust both supported
the core charitable activitles of the or8anisatlon.
The Eveson Trust provlded funds for work with 12-16 year olds. Thls work will be delivered in 2024-
25.
The Holiday Actlvltles and Food Prograrnme and the YES Programme, both operated by
Wolverhampton Clty Councll, supported work wlth youn8 people In the school holldays.
Arts Councll England
NAC was successful In July 2023 as the lead body In securln8 £850,000 over three years for the Place
Partnershlp Fund programme of work Wolverhampton: Clty of Youth Culture together wlth partners
Wolverhampton City Councll, Wolverhampton MusSc Servlce, Gazebo TIE, Wolverhampton CEP and
Learn/Play Foundatlon, Together wlth match fundln& the total prolect value Is £950.000.
ORGANISATIONAL OEVELOPMENT
The Board was further strengthened wlth the recrultment of Lynn Court at the December 2023
AGM.
10

NEWHAMPTON ARTS CENTRE
(Company Limited by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
PLANS FOR FUTURE PERIODS
NAC will cornplete the works enabled by El.5 million investment programme from the Towns Fund
and as part of this secure a long-terrn lease on the site with Wolverhampton City Council, following
purchase of the half of the site owned by City of Wolverhampton College.
APEC Architects will continue to develop the masterplan for the site development during 2024-25
and we anticipate their work will reach R18A Stage 4.
NAC will continue to deliver the final year of its NPO pro8rarnme from Arts Council England and look
to secure fundin8 for future programmes.
11

NEWHAMPTON ARTS CENTrE
(Company Limited by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
nancial Revlew
The chanty's financial position Is laid out ln the balance sheet and financlal statements. Total funds
of the tharity at 31 March 2024 were £468,086 (2023: £316.090).
At the end of the year under review there were free reserves of £225,642 (2023: £22S,143).
Tfustees Investment powers and policy on reserves
The trustees have power to invest and expend the funds of the charity in such a manner as they shall
consider most beneficial for the achievement of the objects In accordance with the Articles of
Association of the charity.
Reserves in this context constitute all funds held in cash, at the charity's bankers, or in the form of
other current. medium or long term Investments, which form part of the charity's unrestricted funds
available for expenditure on the charity's charitable purposes.
Newhampton Arts Centre is currently dependent on earned income from renting out facilities, room
hire and event income. In addition there is income from fundraising (with support from
organisations such as the NACtivists). donations and, where successful, grant and funding
applications to sustain its activities. The purpose of having a written reserrfes policy is to ensure that
trustees abide by the Articles of Association of the Newhampton Arts Centre and provide
Information for potential funders.
The purpose of the reserves Is to:
Provlde funds for urgent prloritles not covered In the annual budget such as buildlng and
equipment repair and replacement and other ur8ent requlremenis as agreed by the
board.
Supplement annual expenditure where necessary at the end of the financial year.
Provbde for Ihree months runnlng costs Includlng all recurrln8 predictable expenses such
as salaries and beneflts, utilities. rentals and ongoing professional services, to enable the
charity to fulfil its debts and obligations and wind-up costs in the event of enforced
closure.
The reserves should be held In an account almed to generate a better return on funds than those
available on an ordinary current account but still sufficiently flexible to be accessed to meet urgent
prloritles. The amount of the reserves will be calculated each flnancial year as part of the annual
budget but will have a dynamlc role and will be subject to review and adjustment in response to
Internal and external changes. It has been calculated that reserves of 25% of turnover would be
needed to continue running for at least three months. This policy wlll be kept under review in
relation to any changes in circumstances.
12

NEWHAMPTON ARTS CENTRE
(Cofflpany Umlted by Guarantee)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Small Company Provlslons
This report has been prepared in accordance with the provisions appllcable to companies entitled to
the small companies exemption.
The trustees, annual report (incorporating the directors, report) was approved on
slgned on behalf of the board of trustees by:
and
W&KlbY STep+-teyv5
Ctffti¢ OF 6)F- Tu4sTee
10 11 24.
13

NEWHAMPTON ARTS CENTRE
(Company Llmlted by Guarantee)
Independent Examlner's Report to the Trustees of Newhampton Arts Centfe
fof the Year Ended 31 March 2024
I report on the financlal statements for the year ended 31 March 2024, whlch comprlse the
Statement of Financial Activities, the Balance Sheet, the statement of Cash Flows and the related
notes.
Respertlve responslbllltles of trustees and examlner
The trustees (who afe also the dlrectors of the company for the purposes of company lawl are
responsible for the preparation ol the financial statements. The trustees consider that an audlt is
not requlred for this year under section 14412) of the Charltles Act 2011 (the 2011 Act) and that an
Independent exarnination Is needed.
The charity's 8ros5 income exceeded £250,000 and l am quallfled to undertake the examination by
belng a qualified Member ol the Instltute of Chartered Accountants In England and Wales {ICAEW).
Havlng satlsf5ed myself that the charlty Is not subject to audlt under company law and Is ellglble lor
Independent exarninatlon, It Is my responslblllty to:
examlne the accounts under sectlon 145 of the 2011 Act.
to lollow the procedures lald down In the general Dlrectlons 8lven by the Charltv
Commlsslon under sectlon 14515)Ib} of the 2011 Act; and
to state whether partlcular matters have come to my attentlon,
B•sls ol Independent ex•mlnees report
My examlnatlon was carrled out In accordance wlth the 8eneral Olrectlons glven by the Charity
Commlsslon. An examlnatlon Includes a revlew ol the accountln8 records kopt by the charlty and a
comparlson of the accounts presented wlth Ih05e records. It also Includes consldefatlon of anv
unusual items or dlsclosures In the accounts, and seeklng explanatlons Irom you as trustees
concernlng any such matters. The procedures undcrtakon do noi provldc all tho evldence that
would be requlred In an audlt and consoquently no oplnlon15 8lven as to whelher the accounts
present a 'true and falr vlew, and the report Is Ilmlted to those matters set out In the next
statement.
14

NEWHAMPTON ARTS CENTRE
{Company Umited by Guarantee)
Independent Examlner's Report to the Trustees of Newhampton Arts Centre
for the Year Ended 31 March 2024
Independent examlner's statement
In connection with my examination. no matter has come to my attentlon:
which gives me reasonable cause to believe that in any rnatefial respect the requirements:
to keep accounting records in accordance with section 386 of the Companies Act 2C#)6.
and
to prepare accounts which accord with the accounting records. comply with the
accounting requirements of section 396 of the Companies Act 2006 and with the
methods and principles of the Statement of Recommended Practice: Accountin8 and
Reportin8 by Charities
have not been met, or
to whlch. in my opinion, attention should be drawn in order to enable a Proper
understanding of the accounts to be reached.
on
ALL
tants
of
WWH
ere
Ch
IGe
Snow Hill
Wolverhampton
WV2 4DG
Accou
15

NEWHAMPTON ARTS CENTRE
(Company Umlted by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES
(Includlng Income and Expendlture Account)
FOR THE YEAR ENDED 31 MARCH 2024
Notes
Unrestrlcted Restrlrted
Total
2024
Total
2023
INCOME AND ENDOWMENTS FROM;
Donatlons and legacles
Charitable activltles
Grants
Earned income
Other income
Investment income
Total Income and Endowments
26,649
26,649
4.070
253,145
317,392
363
3.852
601,401
229,628
482,773
317.392
363
3,8S2
831,029
255,750
306,707
1.737
251
568,515
229.628
EXPENDITURE:
Charltable actlvltles:
Direct Costs
Support costs
105.847
488.266
56.109
17.811
161,9S6
S06.077
199,520
487,870
Ralslni funds
ii,coo
11,000
4.200
Total Expendlture
605,113
73.920
679,033
691,590
NEf INCOMEIIEXPENDITURE)
(3,712)
155,708
151,996 (123,07S)
Transfers between Funds
{1391
139
Fund balances at l Aprll 2023
252,562
63,528
316.090
439,165
TOTAL FUNDS CARRIED FORWARD AT 31
MARCH 2014
248.711
219.375
468,086
316,090
The statement of flnancial activltles Includes all galns and10sses recognised in the year. All Incoming
resources and resources expended derive from contlnuin8 activltles.
The notes form part of these financial statements
16

NEWHAMPTON ARTS CENTrE
Icompany Limited by Guarantee)
BALANCE SHEET
AT 31 MARCH 2024
Notes
2024
2023
FIXED ASSETS
Tangible assets
10
65.031
58.429
CURRENf ASSETS
Stock
Debtors
Cash at bank and in hand
11
12
2.469
27.446
413.971
1.978
50227
250.881
443,886
303.086
CREDITORS
Amounts fallin8 due within one year
13
(40.831)
145.425)
14Ef CURRENT ASSETS
403.055
257.661
TOTAL ASSET5 LESS CURRENT UABIUTIES
468.086
316,090
FUNDS
Unrestricted funds
Restncted funds
Is
16
248.711
219,375
252.562
63.528
TOTAL FUNDS
468.086
316.090
Fof the year endin8 31 March 2024 the charity T*nS eniltled to exemption from audit under sertion 477 of the
Companies Act 21x16 relatini 10 Small cwipanie
Olrectiys, responslbllities:
the members have not requlred the company to obtain an audit of its financial statements for the
year in question in accordance with sectlon 476:
the dirertors acknowled8e thelr fesponsibilities for complylng wlth the requirements ol the Art
with respect to acrountin8 records and the preparation of financial 5taiements.
These financial statements have been prepared in acco(dance wlh the provisions applicable to companles
subjert to the smal companies. rrfime.
The financial statements were approved by the Board cm .
.. arKI s￿rted on its behalf br.
JILI STÉpft￿J
&7rt£fJ 6¢ TLqsre&J
The notes form part of these finar+dal statements
10 1? 2+
17

NEWHAMPTON ARTS CENTRE
(Company Llmlted by Guarantee)
STATEMENT OF CASH FLOWS
AT 31 MARCH 2024
Note5
2024
2023
Cash provided by operating actlvitles
177.600
155,187
Cash flows frorn investing activlties:
Interest Income
Purchase of tangible flxed assets
3,852
(18.362)
251
(3.3621
Cash provided byllused In) investin8 actlvities
114,510)
(3.111)
Increase/decrease in cash and cash equivalents In the year
163,090
(158,2981
Cash and cash equivalents at the be8innin8 of the year
250,881
409,179
Cash and cash equlvalents at the end of the year
413,971
250.881
Reconciliatlon of net Income/(expenditure) to net cash flow from operatin8 actlvities
2024
2023
Net (expenditure)lincome for the year as per the SOFA
151,996
1123,075)
Adjusted for:
Depreciation
Loss on fixed asset dlsposals
Investment Income
Ilncrease)Idecrease In st¢xk
Ilncrease)/decrease in debtors
Increase/(decrease) In creditors
11.760
10.307
(3,852)
1491)
22.781
14.594}
(2511
888
126,4031
(16.653)
Net cash provided by operatlng actlvltles
177.600
1155,1871
Analysis of cash and cash equlvalents
2024
2023
Cash at bank and in hand
413.971
250,881
18

NEWHAMPTON ARTS CENTRE
(Company Umlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Genef•l Inlormatlon
The charity Is a prlvate company Ilmlted by 8uarantee, re8lsiered In England and Wales and
re8lstered charlty In England and Wales. The address of the reglstered offlce Is Ounklev
Street, Wolverhampton, West Mldlands, WVI 4AN.
Statement ol Compllance
These flnanclal statements have been prepared In compliance wlth the Accountlng and
Reportlng by Charltles.. Statement of Recomrnended Practice appllcable to charltles
prepaf In8 thelr accounts in accordance with the Financial Reportln8 Standard appllcable In
the UK and Republic of Ireland {FRS 1021, effectlve from 1st January 2015 - Charlties SORP
IFRS 102} and the Cornpanles Act 2006.
Accountln8 Pollcles
Basls of preparatlon
The financial statements have been prepared on the hlstorlcal cost basts, as rnodifled by the
revaluatlon of certain financlal assets and liablllties and Investment propertles measured at
fair value through Incorne or expenditure.
Goln8 concern
The financial statements have been prepared on a golng concern basls as the trustees
believe that no materlal uncertalntles exlst, The truslees have consldered the level of funds
held ond the expected level of income and expenditure for 12 months from authorlsing
these flnanclal slatements. The bud8eted Income and expenditure is sufficient with the
level of reserves for the charity to be able to continue as a 80ing concern.
Judgements and key sources ol estlmatlon uncertalnty
The prepaiatlon of the flnanclal statement5 requlres mana8ement to make jud8ementS,
estimates and assumptions that affect the amounts reported. These estlrnates and
lud8emenls are continually revlewed and are based on experience and other factors,
Includln8 expectatlons of future events that are believed to be reasonable under the
clrcumstances.
Funds accountlng
Unrestrlcted funds are available for use at the dlscretlon of the trustees to further any of the
charity's purposes.
Deslgnated funds are unrestrlcted funds earmarked by the trustees for particular future
projects or commitments.
Restrlcted funds are subjected to restrlcllons on thelr expenditure declared by the donor or
through the term5 of an appeal.
19

NEWHAMPTON ARTS CENTRE
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income
All incoming resources are included In the statement of financial activities when entitlement
has passed to the charity; It is probable that the economic benefits associated wlth the
transaction will flow to the charity and the amount can be reliably measured. The following
specific policies are applied to particular cate8ories of income:
income from donations or grants is reco8nised when there is evidence of
entitlement to the gift. receipt Is probable and its amount can be measured reliably.
legacy income Is recognised when receipt is probable and entitlement is established.
Income from donated goods Is measured at the fair value of the goods unless thls Is
impractical to measure reliably. in which case the value is derived from the cost to
the donor or the estimated resale value. Donated facilities and services are
recognised in the accounts when received If the value can be reliably measured. No
amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is reco8nised with the delivery of
the contracted service. This is classified as unrestricted f unds unless there is a
contractual requirement for it to be spent on a particular purpose and returned If
unspent, in which case it May be fegarded as restricted.
Aesources expended
Expenditure is recognised on an accruals basis as allability is Incurred. Expenditure Includes
any VAT which cannot be fully recovered, and is classified under headings of the statement
of financial activities to which it relates:
expenditure on raisin8 funds Includes the costs of all fundraising activities. events,
non-charitable tradin8 activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by the charity in
undertaking actlvities that further its charitable alms for the benefit of its
beneficiaries, includin8 those support Cost and costs relatin8 to the governance of
the charity.
other expenditure includes 311 expenditure that is neither related to raislng funds for
the charity nor part of its expenditure on charitable activities.
20

NEWHAMPTON ARTSCENTRE
(Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Tan8lble flxed assets
All fixed assets are initially recorded at cost and subsequently stated at cost less any
accumulated depreciation. Depreciation Is recognised so as to wrlte off the cost or valuatlon
of assets less their residual values over thelr useful lives on the following bases..
Fixtures and fittSngs
Equipment
Cornputer equipment
IO% stralght line
IO% straight line
33% stral8ht line
lfflpalrnient of flxed assets
Assets not measured at fair value are reviewed for any indication that the asset may be
Impaired at each balance sheet date. If such indication exlsts, the recoverable amount of
the asset, 01 the asset's cash generating unit, is estimated and compared to the carrying
amount. Where the carrying amount exceeds Its recoverable amount, an impairment loss is
recognised in the statement of financial activities.
Flnanclal Instruments
Financial instruments are reco6nised in the charlty's balance sheet when the charity
becomes party to the contractual provisions of the instrument.
Flnanclal assets and liabilitles are offset, with the net amounts presented In the flnancial
statements, when there is a legally enforceable ri8ht to set off the recognised amounts and
there is an Intention to settle on a net basls or to reallse the asset and settle the liability
slrnultaneously.
Baslc flnanclal assets
Basic financial assets, which include debtors and cash and bank balances, are initially
measured at transactlon price including transaction costs and are subsequently carried at
amortised cost using the effectlve Interest method unless the arrangement constitutes a
financing transaction, where the transactlon Is measured at the present value of the future
recelpt5 discounted at a market rate of Interest. Flnanctal assets classif led as receivable
wlthin one year are not amortised.
Basic financial Ilabilitles
Basic financial liabilities, includlng creditors and loans, are initlally recognised at transaction
price unless the arrangement constitutes a financing transaction, where the debt instrument
is measured at the present value of the future payments discounted at a market rate of
Interest. Financial liabilities classifled as payable within one year are not amortised.
Stock
Stock is included at the lower of cost or net realizable value.
Penslons
Defined pension contributions payable to the charity's pension scheme are charged to the
statement of financial activities in the period to which they relate.
21

NEWHAMPTON ARTS CENTrE
(c(￿PanY Limited by Guardntee)
PIOTES TO ThE FINANCJAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
DONATIONS AND LEGACY INCOME
Unrestrirted Designated Restricted
Funds
Funds
FuThJs
Total
2024
Total
2023
26,649
26,649
26.649
26.649
4.070
4,070
Unrestricted De548nated Restricted
Fund5
Funds
Total
2024
Total
2023
Ftroe Foundation
20.21X) 2021J)
251.145 183.312
.12.135) 12.135)
251.145
23.379 23.379
190,563 I￿.563
21.848
6.135
15.(Kll
15.QJ)
10.679
Gaffiekl Weston Foundation
Arcmectwal HefTtage Fund
Wofvertwnptm Colle8e
"12.379) (23791
253.145
229.628 482.773 255.750
negatNe balances here are due to expectations in the 2022n3 accounts of grants due ift
2023n4 which turned out to be overststed.
22

NEWHAMPTON ARTS CENTrE
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
EARNED INCOME
Unrestricted Deslgnated Restricted
Funds
Funds
Funds
Total
2024
Total
2023
Rental income
Theatre and roorn hire
Show income
Workshop income
Bar and vending machine income
99.203
89.717
87,471
75
40,926
317,392
99,203
91,111
89,717 104,976
87,471
64.247
75
40,926
46.373
317.392 306.707
OTHER INCOME
Unrestricted Deslgnated Restricted
Funds
Funds
Funds
Total
2024
Total
2023
Mixellaneous Income
363
363
363
363
1.737
1,737

NEWHAMPTON ARTS CENTRE
(Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
COST OF OPERATION OF THE ARTS CENTRE
Unrestricted Designated Restricted
Funds
Funds
Funds
Total
2024
Total
2023
Dlrert Costs
Show costs
Workshops
Catering and bar
Printing and publicity
69,771
2,675
22,402
10,999
105,847
69,771
52,291
56,109 58,784 114,560
22,402
20,345
10,999
12,324
56,109 161.956 199,520
Support Costs
Staff costs
Training and recruitment
Office costs and administration
Rent
Rates and water
Light and heat
Insurances
Maintenance of premises
Cleaning
Licenses and affiliations
Telephone and broadband
Travel and entertalning
Bank and credit card charges
Miscellaneous expenses
Legal and professional fees
Accounting fees
Depreciation
315,121
225
4.655
5,600 320.721 300,291
225
900
4.655
4,321
9,352
50,879
3,462
10,076
68,275
5,078
1,445
477
1,770
4,547
3,327
3,832
5,745
488,266
9.352
11,376
50.879
34,569
3,462
2,608
6,196 16,272
35,622
68,275
62,449
5.078
1,967
1,445
1,587
477
690
1,770
2,219
4,547
12,944
3.327
2,600
3,832
3,420
6,015 11.760
10,307
17,811 506.077 487,870
Total Operational Costs
594.113
73,920 668,033 687.390
FUNDRAISING
Unrestricted Designated Restricted
Funds
Funds
Funds
Total
2024
Total
2023
Fundraising expenses
11,000
11,000
11,0
11,000
4,200
4,200
24

NEWHAMPTON ARTS CENTRE
Icornpany Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 MARCH 2024
TAX ON AcnviTIES
The company is a re8iStered charlty and as such Is not liable for taxation on any surplus in
the year.
STAFF COSTS
2024
2023
Wages and salarles
Employers national insurance
Employers pension contributions
298,830 280.955
14,743
12.815
7,148
6.521
320,721
3LKI,291
No staff member received remuneration in excess of £60,000 (2023.. none).
During the year the charity paid pension contributSons totallln8 £7,168 (2023: £6.S21) into
the defined contribution group personal pension scheme.
The key management personnel comprise the members of the Mana8ernent Team. The
total amount of employee benefits (includin8 employer pension contributions) received by
the management team for their services to the charity for the year was £69.785 (2023:
£63,858).
The trustees dld not have any expenses reimbursed durin8 the year (2023 - nil}.
25

NEWHAMPTON ARTS CENTRE
(Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
io.
TANGIBLE FIXED ASSErs
Fixtures.
Computer
Fitting5 & Equipment
Equip
Total
Cost
At l April 2023
Additions
Disposals
At 31 March 2024
112.IS5
17.795
12,005
567
124,160
18.362
129,950
12,572
142,522
Depreclatlon
At l April 2023
Char8e for the year
At 31 March 2024
55,540
10,461
66,001
10.191
1,299
11,490
65,731
11,760
77,491
Net Book Value
At 31 March 2024
63,949
1,082
65,031
At 31 March 2023
56.615
1.814
58,429
11.
STOCK
2024
2023
Bar
Vending machlne
2.469
1.978
2.469
1,978
12.
DEBTORS
2024
2023
Trade debtofs
Other debtors and prepayments
25.477
1,969
27,446
26.887
23,340
50,227
26

NEWHAMPTON ARTS CENTRE
(Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13.
CREDITORS: AMOUNTS DUE WtThIN ONEYEAR
2024
2023
Trade creditors
Taxes and social security costs
Other creditors and accruals
4250
4,739
3.590
37.0%
45,425
36581
40,831
14.
PENSION COMMITMENTS
The charity operates a defined contribution pension scherne in respect to employees.
Contributions are charged in the statement of financial activities as they fall due and amount
in the year to £13.41912023: £12.476). At the balance sheet date there were outstandin8
contributions of £1.14912023- £1,620).
UNREsTricfED FUNDS OF THE CHARITY
Genefal
Fund
8alance at l April 2023
Movement In fvnds for the year
Transfers between funds
Balance at 31 Marth 2024
2S2.562
13,712)
11391
248.711
27

NEWHAMFfoN ARTS CENTRE
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16.
RESTrICTEO FUNDS
Balance at
l Aprfl
2023
Incomlng Resources
Resource5
Expended
Transfers
Between
Funds
Balance at
31 March
2024
Capitsl Purchases
Co-op/Esmee
Fairbairn
ACE CRF 2
Olye Girt
Foyle Foundation
19.268
13,534)
5,469
21,203
3,873
3,389
2,100
15.270
1300)
11.6971
16,967
Other Grants
Foyle Foundation
(bal)
Children & the
ArtslStartArt
Garfield Weston
Foundation lal
HAFf(ES grant
Roger & Douglas
Turner CT
Youth Culture
Project
LCEP
Eveson Trust
Architectural
Heritage Fund
Esmee Falrbairn
3.233
3,233
2.888
12,888)
15,0
115,OCKI)
6,971
23,379
(27,631)
2,719
(2,000)
190.563
(27.868)
16,235)
156,460
12.135)
(4,100)
6,235
1S.CMJI
15,001
(2.379)
(6.196)
8,575
12,110)
(73.920)
2,110
139
63.528
229,628
219.375
{a) Garfield Weston Foundation Income was treated as restricted funds in the 2022123
accounts, but have been reallocated to unrestricted funds in the 2023124 accounts (see
below).
28

NEWHAMPTON ARTS CENTRE
(Company Llmited by Guarantee)
NOTES TO THE FINANaAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16.
RESTRICTED FUN051contlnued)
Capital Purchases
Co-op FoundationlEsmee Falrbalrn
Foundation
Funds to support the purchase of outdoof Stage tent and
associated equlpment
Arts Council En8land CRF2
Funds to support the or8anlsation to adapt Its facllities and
recover from COVID restrictions
O'l￿V Carte Charitable Trust
Funds towards the purchase of a piano io support the jazz
pro8ramme
Foyle Foundation
Support for the purchase ofa new sound mixin8 desk for the
theatre and associated sound equipment
Other Grants
Children and the ArtslStartArt
Funds for work with young people
Garfield Weston Foundation
Funding to support the pro8rammln8 of the or8anlsatlon
durln8 thls transitlon year post.COVID
HAF (Holiday Artlvitles and Food
Prouamrne)
Fundin8 disbursed by Wolverhampton City Council to support
school holiday creative and food anivitie5 for familie5 on
means-tested flee school meals
YES Programme
Funding from Wolverhampton Clty Council to support School
hollday creatlve actlvltles lor lamilies
Ro8er and Dou8las Tumef Charltable Trust
Fundin8 to support the core costs of the or8anlsation
Youth Culture Projert
Funding from Arts Council En8land to support a three-year
pro8ramrne of work wlth youn8 people. Wolverhampton Clty
of Youth Culture.
LCEP
Funds recelved from Arts Connect to support the costs of the
Wolverhampton Local Cullural Education Partnership
The Eveson Trust
Funds to support partlclpatory visual arts work wlth youn8
people a8ed 11-16
Architectural Heritage Fund
Support for an Optlons Appralsal to be carrled out by a
registered archltect on the future options for the site
Esmee Fairbairn Foundation
Grant toward5 a community map
In
ro
ert
29

NEWHAMPTON ARTS CENTRE
(Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2024
17.
ANALYSIS OF RESERVES
Restricted
Funds
Designated Unrestrlcted
Funds
Funds
Total
Flxed assets
Net current assets
41,962
177,413
23,069
22S.642
65,031
403,055
Total
219,375
248.711
468,086
18.
EMPLOYEE NUMBERS
The average number of persons employed by the company durln8 the year amounted to 21
(2023: 171.
30