## 

||||
|---|---|---|
|**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|





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25/10/2021 



## 

|**Currentfinancialyear**|||||||
|---|---|---|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|**Restricted**|**Total**|Total|
|||**funds**|<br>**funds**|**funds**|||
|||**general**|**designated**||||
|||**2021**|<br>**2021**|**2021**|**2021**|2020|
||**Notes**|<br>**£**|<br>**£**|**£**|**£**|**£**|
|**incomefrom:**|||||||
|Donationsandlegacies|**3**|1,067j297|<br>-|-|1,067,297|1,014,643|
|Charitableactivities|**4**|184,222|<br>-|577,045|761,267|335,191|
|Othertradingactivities|**5**|-|'<br>-|9,167|9,167|1,000|
|Investments|**6**|1,109|<br>-|-|1,109|1,974|
|**Totalincome**||1,252,628|<br>-|586,212|1,838,840|1,352,808|
|**Expenditureon:**|||||||
|Raisingfunds|**7**|61,158|<br>-|-|61,158|52,312|
|Charitableactivities|**8**|840,182|<br>56,600|244,263|1,141,045|958,424|
|**Totalexpenditure**||901,340|<br>56,600|244,263|1,202,203|1,010,736|
|**Netmovementinfunds**||351,288|<br>(56,600)|341,949|636,637|342,072|
|Fundbalancesat1April2020||410,488|<br>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**|**£**|**£**|**£**|**£**|
|liwme**frpm:**||||||
|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|-|•<br>-|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)|<br>-|63,369|•<br>-|
|**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|





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## 

||**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|
|||**£**|**£**|
|Fundraisinaand**Dublicitv**||||
|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**<br>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|.<br>-|.<br>-|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)|'<br>-|
|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)|•<br>-|
|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|•<br>-|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||||_<br>-|-||-|-|"|-|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|





## 

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## 



## 

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## 

## 



## 

|||**Movementin**||||
|---|---|---|---|---|---|
|||**funds**||||
||**Balanceat**|<br>**Income**|**Balance at**|**Expenditure**|**Balanceat**|
||**1April2019**||**1April2020**||**31March2021**|
||**£**||**£**|**£**||
|Publicrealmworks|69,532||69,532|(20,000)|<br>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|<br>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|<br>162,932|630,419|1,555,127|<br>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|





#