| Trustees | TWilson | |
| JShield | ||
| KSoriano (ChairofTrustees) | ||
| JFalkingham | ||
| CEvans | ||
| AValle | ||
| NBintley | ||
| IMcCarthy | ||
| RStephenson | (Appointed26May2021) | |
| YTan | (Appointed26May2021) | |
| SSmith | (Appointed26May2021) | |
| HPatel | (Appointed26May2021) | |
| RBehari | (Appointed26May2021) | |
| Secretary | JMMitchell | |
| Charitynumber | 1073956 | |
| Companynumber | 3659361 | |
| Principaladdress | 55NewBirdStreet | |
| Liverpool | ||
| L10BW | ||
| Registered office | POBox1200 | |
| 55JordanStreet | ||
| Liverpool | ||
| L691XB | ||
| Auditor | BWM | |
| CastleChambers | ||
| 43CastleStreet | ||
| Liverpool | ||
| L29SH | ||
| Bankers | BarclaysBankpic | |
| 265-267LordStreet | ||
| Southport | ||
| Merseyside | ||
| PR81PD | ||
| Solicitors | HillDickinson | |
| No.1StPaul'sSquare | ||
| Liverpool | ||
| L39SJ |
| Page | |
|---|---|
| Trustees'report | 1-10 |
| Statementoftrustees'responsibilities | 11 |
| Independentauditor'sreport | 12-15 |
| Statementoffinancialactivities | 16-17 |
| Balancesheet | 18 |
| Statementofcashflows | 19 |
| Notestothefinancialstatements | 20-38 |
25/10/2021
| Currentfinancialyear | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Unrestricted | Restricted | Total | Total | ||
| funds | funds |
funds | ||||
| general | designated | |||||
| 2021 | 2021 |
2021 | 2021 | 2020 | ||
| Notes | £ |
£ |
£ | £ | £ | |
| incomefrom: | ||||||
| Donationsandlegacies | 3 | 1,067j297 | - |
- | 1,067,297 | 1,014,643 |
| Charitableactivities | 4 | 184,222 | - |
577,045 | 761,267 | 335,191 |
| Othertradingactivities | 5 | - | ' - |
9,167 | 9,167 | 1,000 |
| Investments | 6 | 1,109 | - |
- | 1,109 | 1,974 |
| Totalincome | 1,252,628 | - |
586,212 | 1,838,840 | 1,352,808 | |
| Expenditureon: | ||||||
| Raisingfunds | 7 | 61,158 | - |
- | 61,158 | 52,312 |
| Charitableactivities | 8 | 840,182 | 56,600 |
244,263 | 1,141,045 | 958,424 |
| Totalexpenditure | 901,340 | 56,600 |
244,263 | 1,202,203 | 1,010,736 | |
| Netmovementinfunds | 351,288 | (56,600) |
341,949 | 636,637 | 342,072 | |
| Fundbalancesat1April2020 | 410,488 | 219,532 |
288,470 | 918,490 | 576,418 | |
| Fundbalancesat31March2021 | 761,776 | 162,932 | 630,419 | 1,555,127 | 918,490 |
| Priorfinancialyear | |||||
|---|---|---|---|---|---|
| UnrestrictedUnrestricted | IRestricted | Total | |||
| funds | funds | funds | |||
| general | designated | ||||
| 2020 | 2020 | 2020 | 2020 | ||
| Notes | £ | £ | £ | £ | |
| liwmefrpm: | |||||
| Donationsandlegacies | 3 | 1,010,743 | - | 3,900 | 1,014,643 |
| Charitableactivities | 4 | 8,558 | - | 326,633 | 335,191 |
| Othertradingactivities | 5 | 1,000 | - | - | 1,000 |
| Investments | 6 | 1,974 | - | • - |
1,974 |
| Totalincome | 1,022,275 | - | 330,533 | 1,352,808 | |
| Expenditureon: | |||||
| Raisingfunds | 7 | 52,312 | "" | ~ | 52,312 |
| Charitableactivities | 8 | 779,258 | - | 179,166 | 958,424 |
| Totalexpenditure | 831,570 | - | 179,166 | 1,010,736 | |
| Net(expenditure)/income | 190,705 | - | 151,367 | 342,072 | |
| Grosstransfersbetweenfunds | (63,369) | - |
63,369 | • - |
|
| Netmovementinfunds | 127,336 | - | 214,736 | 342,072 | |
| Fundbalancesat1April2019 | 283,152 | 219,532 | 73,734 | 576,418 | |
| Fundbalancesat31March2020 | 410,488 | 219,532 | 288,470 | 918,490 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Notes | ||||
| Fixedassets | ||||
| Tangibleassets | 13 | 3,954 | 5,842 | |
| Currentassets | ||||
| Debtors | 15 | 666,749 | 223,467 | |
| Cashatbankandinhand | 1,070,078 | 840,937 | ||
| 1,736,827 | 1,064,404 | |||
| Creditors:amountsfallingduewithin | ||||
| oneyear | 16 | (185,654) | (151,756) | |
| Netcurrentassets | 1,551,173 | 912,648 | ||
| Totalassetslesscurrentliabilities | 1,555,127 | 918,490 | ||
| Incomefunds | ||||
| Restrictedfunds | 18 | 630,419 | 288,470 | |
| Designatedfunds | 19 | 162,932 | 219,532 | |
| Generalunrestrictedfunds | 761,776 | 410,488 | ||
| Totalunrestricted funds | 924,708 | 630,020 | ||
| 1,555,127 | 918,490 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | |||
| Cashflowsfromoperatingactivities | |||||
| Cashgeneratedfromoperations | 23 | 230,798 | 292,780 | ||
| Investingactivities | |||||
| Purchaseoftangiblefixedassets | (2,766) | (6,432) | |||
| Interestreceived | 1,109 | 1,973 | |||
| Netcashusedininvestingactivities | (1,657) | (4,459) | |||
| Netcashusedinfinancing activities | |||||
| Netincreaseincashandcashequivalents | 229,141 | 288,321 | |||
| Cashandcashequivalentsatbeginningofyear | 840,937 | 552,616 | |||
| Cashandcashequivalents atendofyear | 1,070,078 | 840,937 |
| Unrestricted | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| funds | funds | funds | ||
| general | general | |||
| 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | |
| Donationsandgifts | 38,012 | 30,025 | 3,900 | 33,925 |
| Grantsreceivable | 1,029,285 | 980,718 | 980,718 | |
| 1,067,297 | 1,010,743 | 3,900 | 1,014,643 | |
| Grantsreceivableforcoreactivities | ||||
| ArtsCouncilEngland | 766,361 | 751,855 | 751,855 | |
| LiverpoolCityCouncil | 212,751 | 228,863 | 228,863 | |
| JRSFurloughGrants | 38,268 | |||
| Other | 11,905 | |||
| 1,029,285 | 980,718 | 980,718 |
| Biennial | BiennialFestival | |
|---|---|---|
| Festival | ||
| 2021 | 2020 | |
| £ | £ | |
| Saleswithincharitableactivities | 21,884 | 8,558 |
| Servicesprovidedundercontract | 50,000 | 50,000 |
| Performancerelatedgrants | 527,045 | 276,633 |
| Otherincome | 162,338 | |
| 761,267 | 335,191 | |
| Analysisbyfund | ||
| Unrestrictedfunds-general | 184,222 | 8,558 |
| Restrictedfunds | 577,045 | 326,633 |
| 761,267 | 335,191 |
| Restricted | Unrestricted |
|---|---|
| funds | funds |
| general | |
| 2021 | 2020 |
| £ | £ |
| 9,167 | 1,000 |
| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| general | general |
| 2021 | 2020 |
| £ | £ |
| 1,109 | 1,974 |
| Raising funds | |||
|---|---|---|---|
| S | |||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| general | general | ||
| 2021 | 2020 | ||
| £ | £ | ||
| FundraisinaandDublicitv | |||
| Otherfundraisingcosts | 6,008 | 6,928 | |
| Staffcosts | 55,150 | 45,384 | |
| Fundraisingandpublicity | 61,158 | 52,312 | |
| 61,158 | 52,312 |
| Biennial | Biennial | ||
|---|---|---|---|
| Festival | Festival | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Staffcosts | 499,076 | 431,858 | |
| Premisescosts | 47,976 | 67,640 | |
| Artistfees | 39,801 | 26,787 | |
| Print,postandstationery | 569 | 2,730 | |
| Telephone | 2,839 | 5,710 | |
| Travelling | ' | 1,249 | 22,492 |
| Legalandprofessionalfees | 15,984 | 11,200 | |
| Training | 17,084 | 10,874 | |
| Internationalexhibitioncosts | 311,864 | 185,667 | |
| Marketing | 91,613 | 38,645 | |
| Sundryexpenses | 1,475 | 3,083 | |
| 1,029,530 | 806,686 | ||
| Shareofsupportcosts (seenote9) | 29,293 | 64,634 | |
| Shareofgovernancecosts (seenote9) | 82,222 | 87,104 | |
| 1,141,045 | 958,424 | ||
| Analysisbyfund | |||
| Unrestrictedfunds-general | 840,182 | 779,258 | |
| Unrestrictedfunds-designated | 56,600 | - | |
| Restrictedfunds | 244,263 | 179,166 | |
| 1,141,045 | 958,424 |
| Supportcosts | ||||||
|---|---|---|---|---|---|---|
| SupportGovernance | 2021 | Support | Governance | 2020 | ||
| costs | costs | costs | costs | |||
| £ | £ | £ | £ | £ | £ | |
| Staffcosts | 24,639 | 75,942 | 100,581 | 58,748 | 82,544 | 141,292 |
| Depreciation | 4,654 | - | 4,654 | 5,886 | 5,886 | |
| Auditfees | - | 2,820 | 2,820 | - | 2,350 | 2,350 |
| Accountancy | - | 3,460 | 3,460 | 2,210 | 2,210 | |
| 29,293 | 82,222 | 111,515 | 64,634 | 87,104 | 151,738 | |
| Analysedbetween | ||||||
| Charitableactivities | 29,293 | 82,222 | 111,515 | 64,634 | 87,104 | 151,738 |
| Supportandgovernance costsareallocateddirectlyto | charitableactivities. | |||||
| Auditor'sremuneration | ||||||
| Theanalysisofauditor'sremunerationisasfollows: | ||||||
| Feespayabletothecompany'sauditors: | 2021 | 2020 | ||||
| £ | £ | |||||
| Auditofthecompany'sannual | accounts | 2,820 | 2,350 | |||
| Non-auditservices | ||||||
| Allothernon-auditservices | 3,460 | 2,210 |
| Numberofemployees Theaveragemonthlynumberofemployeesduringtheyearwas: |
||
|---|---|---|
| 2021 | 2020 | |
| Number | Number | |
| Activitiesinfurtheranceofthecharity'sobjects | 14 | 12 |
| Managingandadministeringthecharity | 3 | 4 |
| 17 | 16 | |
| Employmentcosts | 2021 | 2020 |
| £ | £ | |
| Wagesandsalaries | 610,028 | 559,430 |
| Socialsecuritycosts | 35,885 | 49,411 |
| Otherpensioncosts | 8,894 | 9,693 |
| 654,807 | 618,534 | |
| Thenumberofemployeeswhoseannualremunerationwas£60,000or | ||
| morewere: | ||
| 2021 | 2020 | |
| Number | Number |
| Tangiblefixedassets | ||||||
|---|---|---|---|---|---|---|
| Leasehold | Office | Computer | Total | |||
| improvements | Equipment | equipment | ||||
| £ | £ | £ | £ | |||
| Cost | ||||||
| At1April2020 | 124,067 | 27,934 | 79,019 | 231,020 | ||
| Additions | - | - | - | 2,766 | 2,766 | |
| Disposals | - | (27,270) | (64,305) | (91,575) | ||
| At31March2021 | 124,067 | 664 | 17,480 | 142,211 | ||
| Depreciationandimpairment | ||||||
| At1April2020 | 124,067 | 27,712 | 73,399 | 225,178 | ||
| Depreciationchargedintheyear | - | 222 | 4,432 | 4,654 | ||
| Eliminatedinrespectofdisposals | • | - | (27,270) | (64,305) | (91,575) | |
| At31March2021 | 124,067 | 664 | 13,526 | 138,257 | ||
| Carryingamount | ||||||
| At31March2021 | - | - | 3,954 | 3,954 | ||
| At31March2020 | - | 222 | 5,620 | 5,842 | ||
| Financialinstruments | 2021 | 2020 | ||||
| £ | £ | |||||
| Carryingamountoffinancialassets | ||||||
| Debtinstrumentsmeasuredatamortisedcost | 1,711,835 | 1,013,837 | ||||
| Carrying amountoffinancialliabilities | ||||||
| Measuredatamortisedcost | 182,281 | 141,535 | ||||
| Debtors | ||||||
| 2021 | 2020 | |||||
| Amounts fallingdue withinoneyear: | £ | £ | ||||
| Otherdebtors | 641,757 | 172,900 | ||||
| Prepaymentsandaccruedincome | 24,992 | 50,567 | ||||
| 666,749 | 223,467 |
| Creditors:amountsfallingduewithinoneyear | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Othertaxationandsocialsecurity | 3,373 | 10,221 |
| Tradecreditors | 132,490 | 32,024 |
| Othercreditors | 19,946 | 91,556 |
| Accrualsanddeferredincome | 29,845 | 17,955 |
| 185,654 | 151,756 |
| Movementinfunds | Movementinfunds | Movement | infunds | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance | at | Income | Expenditure | Transfers | Balanceat | Income | Expenditure | Balanceat | ||
| 1April2019 | 1April2020 | 31March2021 | ||||||||
| £ | £ | £ | £ | £ | £ | £ | £ | |||
| IFA | - | - | - | - | - | 8,232 | (5,073) | 3,159 | ||
| CanadaCouncil | - | 33,577 | (8,691) | - | 24,886 | - | (12) | 24,874 | ||
| GranadaFoundation | - | 5,000 | - | - | 5,000 | - | (2,093) | 2,907 | ||
| SAHA | - | ' | - | - | - | - | 7,075 | (4,225) | 2,850 | |
| StrategicTouring | 36,537 | 73,075 | (66,217) | - | 43,395 | - | (43,395) | - | ||
| New NorthSouth-NNS | - | 35,000 | (41,514) | 6,514 | -• | - | - | |||
| CreativeEurope | 37,197 | - | (9,241) | - | 27,956 | - | (8,118) | 19,838 | ||
| ACE-CulturalRecoveryFund | - | - | - | - | - | 285,460 | 285,460 | |||
| LCC-FestivalEnhancement | - | 1,600 | . - |
. - |
1,600 | - | (1,600) | - | ||
| TheLiverpoolBidCompany | - | 50,000 | (24,684) | 56,855 | 82,171 | 50,000 | (47,371) | 84,800 | ||
| MoniqueMelloche Gallery | - | 3,900 | - | - | 3,900 | - | (2,399) | 1,501 | ||
| HenryMooreFoundation | - | 9,000 | (5,000) | - | 4,000 | - | (4,000) | ' - |
||
| WestonJerwood CreativeBursaries | - | 1,957 | (1,957) | - | - | - | - | - | ||
| ArtFund | - | 50,000 | (11,414) | - | 38,586 | 45,000 | (9,042) | 74,544 | ||
| NationalLottery-AwardsforALL | - | 10,000 | (1,829) | - | 8,171 | - | (500) | 7,671 | ||
| Brabners | - | 10,000 | (3,722) | - | 6,278 | - | (6,278) | - | ||
| Fluxus | - | 9,000 | (3,667) | - | 5,333 | - | (5,333) | - | ||
| CalousteGulbenkian | - | 8,420 | (360) | - | 8,060 | - | (8,060) | - | ||
| Phileas | - | 12,244 | (870) | - | 11,374 | - | (11,374) | • - |
||
| OCA | - | 4,261 | - | - | 4,261 | - | (2,931) | 1,330 | ||
| SwissCulturalFund | - | 2,000 | - | - | 2,000 | - | - | 2,000 | ||
| QInternational | - | 1,691 | - | - | 1,691 | - | (1,691) | - | ||
| Prohelvetia | - | 9,808 | - | - | 9,808 | 3,599 | (5,618) | 7,789 | ||
| BritishCouncil | - | - | - | - | - | 25,000 | (6,123) | 18,877 | ||
| BlockUniverse | • | - | - | - | - | - | 2,250 | (2,000) | 250 | |
| A-N | - | - | - | - | - | 17,150 | (3,600) | 13,550 |
| Restrictedfunds | (Continued) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ampersand | - | _ | - | - | - | 15,000 | (15,000) | - | |||||
| Medicash | - | - | - | - | - | 5,000 | • - |
5,000 | |||||
| Outset | - | - | - | - | - | 20,000 | (15,000) | 5,000 | |||||
| Accion CulturalEspanola | - | - | - | - | - | 12,614 | (12,614) | - | |||||
| AfricanArtsTrust | ' | - | - | .. | - | - | - | 3,635 | (3,635) | - | |||
| AustrianCulturalForum | - | . | _ | - | - | 4,000 | (533) | 3,467 | |||||
| CanadHouse-HighCommissionofCanada | - | . | _ | - | - | 2,500 | - | 2,500 | |||||
| EmbassyofMexico | - | - | - | - | - | 750 | - | 750 | |||||
| EmbassyofNetherlands | - | - | - | - | - | 5,000 | - | 5,000 | |||||
| EmbassyofNorway | - | - | - | - | - | 2,189 | - | 2,189 | |||||
| EmbassyofSweden | _ - |
- | - | - | " | - | 3,000 | (1,151) | 1,849 | ||||
| FinnishInstituteintheUKandIreland | - | **.- ** | . | - | - | 5,000 | (5,000) | - | |||||
| Frame | '- | . | _ | - | - | 4,371 | (4,371) | - | |||||
| Hong KongEconomicandTradeOffice,London | • | - | . | . | - | - | 8,333 | - | 8,333 | ||||
| ItalianCulturalInstitute | ' | - | - | ' | - | - | - | 2,000 | (2,000) | ||||
| MinistryofTaiwan | - | _ | _ | - | - | 20,400 | (2,950) | 17,450 | |||||
| MondriaanFund | - | - | - | - | - | 9,297 | (1,098) | 8,199 | |||||
| PAC | - | - | - | - | - | 1,471 | (75) | 1,396 | |||||
| VIAArtFund | - | - | - | - | 17,886 | - | 17,886 | ||||||
| 73,734 | 330,533 | (179,166) | 63,369 | 288,470 | 586,212 | (244,263) | 630,419 |
| Movementin | |||||
|---|---|---|---|---|---|
| funds | |||||
| Balanceat | Income |
Balance at | Expenditure | Balanceat | |
| 1April2019 | 1April2020 | 31March2021 | |||
| £ | £ | £ | |||
| Publicrealmworks | 69,532 | 69,532 | (20,000) | 49,532 |
|
| Sustainabilityand resilience | 150,000 | 150,000 | (36,600) | 113,400 | |
| 219,532 | 219,532 | (56,600) | 162,932 |
| Analysisofnetassetsbetweenfunds | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Total | Unrestricted | Designated | Restricted | Total | |
| funds | funds | funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Fundbalancesat31March2021arerepresented | ||||||||
| by: | ||||||||
| Tangibleassets | 3,954 | - | - | 3,954 | 5,842 |
- | - | 5,842 |
| Currentassets/(liabilities) | 757,822 | 162,932 | 630,419 | 1,551,173 | 404,646 | 219,532 | 288,470 | 912,648 |
| 761,776 | 162,932 |
630,419 | 1,555,127 | 410,488 |
219,532 | 288,470 | 918,490 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Withinoneyear | 17,799 | 14,369 |
| Betweentwoandfiveyears | 53,139 | 3,410 |
| 70,938 | 17,779 |
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Aggregatecompensation | 151,227 | 279,366 | |
| 23 | Cashgeneratedfromoperations | 2021 | 2020 |
| £ | £ | ||
| NetIncome/(expenditure)fortheyear(asperthestatementoffinancial | |||
| activities) | 636,637 | 342,072 | |
| Adjustmentsfor: | |||
| InvestmentincomerecognisedintheSOFA | (1,109) | (1,974) | |
| Depreciationandimpairmentoftangiblefixedassets | 4,654 | 5,886 | |
| Movementsinworkingcapital: | |||
| (Increase)indebtors | (443,282). | (61,244) | |
| Increaseincreditors | 33,898 | 8,040 | |
| Cashgeneratedfromoperations | 230,798 | 292,780 |