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2022-03-31-accounts

Trustees R Behari (Appointed 26 May 2021)
N Bintley (Treasurer and Secretary)
C Evans
J Falkingham
I McCarthy (Vice Chair and Chair of
FHRC)
H Patel (Appointed 26 May 2021)
L Pritchard (Appointed 9June 2022)
S Smith (Appointed 26 May 2021)
K Soriano (Chair ofTrustees)
YTan (Appointed 26 May 2021)
AValle
Secretary J M Mitchell
Charity number 1073956
Company number 03659361
Principal address 55 New Bird Street
Liverpool
L1 OBW
Registered office PO Box 1200
55Jordan Street
Liverpool
L69 1XB
Auditor DSG
Castle Chambers
43 Castle Street
Liverpool
L2 9TL
Bankers Barclays Bank pic
265 -267 Lord Street
Southport
PR8 1PD
Solicitors Hill Dickinson
No 1 St Pauls Square
Liverpool
L39SJ
Page
Trustees'
report		 1-12
Statement oftrustees' responsibilities 13
Independent
auditor's		 report 14-16
Statement offinancial activities 17-18
Balance sheet 19
Statement ofcash flows 20
Notes to the financial statements 21-38

Current financial year Current financial year
Unrestricted Unrestricted Restricted Total Total
funds funds funds
general designated
2022 2022 2022 2022 2021
Notes
Income from:
Donations
and		 legacies 1,007,199 1,007,199 1,067,297
Charitable
activities		 3,954 11,500 15,454 761,267
Other trading
activities		 9,167
Investments 515 515 1,109
Total income 1,011,668 11,500 1,023,168 1,838,840
Ex ni
r		 n:
Raising funds 77,278 77,278 61,158
Charitable
activities		 960,482 558,522 1,519,004 1,141,045
Total expenditure 1,037,760 558,522 1,596,282 1,202,203
Net (expenditure)/income for the year/
Net movement in funds (26,092) (547,022) (573,114) 636,637
Reconciliation offunds
Fund balances at 1 April 2021 761,776 162,932 630,419 1,555,127 918,490
Fund balances at 31 March 2022 735,684 162,932 83,397 982,013 1,555,127

Prior financial year
Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2021 2021 2021 2021
Notes
Income from:
Donations
and		 legacies 1,067,297 1,067,297
Charitable
activities		 184,222 577,045 761,267
Other trading
activities		 9,167 9,167
Investments 1,109 1,109
Total income 1,252,628 586,212 1,838,840
Ex ni
r		 n:
Raising funds 61,158 61,158
Charitable
activities		 840,182 56,600 244,263 1,141,045
Total expenditure 901,340 56,600 244,263 1,202,203
Net (expenditure)/income for the year/
Net movement in funds 351,288 (56,600) 341,949 636,637
Reconciliation offunds
Fund balances at 1 April 2020 410,488 219,532 288,470 918,490
Fund balances at 31 March 2021 761,776 162,932 630,419 1,555,127

2022 2021
Notes f
Fixed assets
Tangible assets 12 3,206 3,954
Current assets
Debtors 14 43,953 666,749
Cash at bank and in hand 974,254 1,070,078
1,018,207 1,736,827
Liabilities
Creditors: amounts falling due within one
year 15 (39,400) (185,654)
Net current assets 978,807 1,551,173
Total net assets 982,013 1,555,127
The funds ofthe charity
Restricted
funds		 17 83,397 630,419
Designated
funds		 18 162,932 163,532
General
unrestricted		 funds 735,684 761,776
Total unrestricted funds 898,616 924,708
Total charity funds 982,013 1,555,127

2022 2021
Notes f
Cash flows from operating activities
Cash (absorbed by)/generated from 22
operations (92,914) 230,799
Investing activities
Purchase oftangible
fixed assets		 (3,425) (2,766)
Investment income received 515 1,109
Net cash used in investing activities (2,910) (1,658)
Net cash used in financing activities
Net (decrease)/increase
in		 cash and cash
equivalents (95,824) 229,141
Cash and cash equivalents
at beginning		 of year 1,070,078 840,937
Cash and cash equivalents at end of year 974,254 1,070,078

Unrestricted Unrestricted
funds funds
general general
2022 2021
E
Donations and gifts 12,863 38,012
Grants receivable for core activities 994,336 1,029,285
1,007,199 1,067,297
Grants receivable for core activities
Arts Council England 766,361 766,361
Liverpool City Council 191,475 212,751
JRS Furlough Grants 38,268
Other 36,500 11,905
994,336 1,029,285

Biennial Biennial
Festival Festival
2022 2021
Sales within charitable activities 1,123 21,884
Services provided under contract 50,000
Performance related grants 11,500 527,045
Other income 2,831 162,338
15,454 761,267
Analysis by fund
Unrestricted
funds		 - general 3,954 184,222
Restricted funds 11,500 577,045
15,454 761,267
5 Other trading activities
Total Restricted
funds
2022 2021
Sponsorships 9,167
6 Investments
Unrestricted Unrestricted
funds funds
general general
2022 2021
f
Interest receivable 515 1,109

Unrestricted Unrestricted
funds funds
general general
2022 2021
f:
Fundraisin and ublici
Other fundraising costs 6,008
Staff costs 77,278 55,150
Fundraising and publicity 77,278 61,158
8 Charitable activities
Biennial Biennial
Festival Festival
2022 2021
Staff costs 416,560 499,076
Premises costs 76,614 47,976
Artist fees 56,917 39,801
Print, post and stationery 1,753 569
Telephone 2,129 2,839
Travelling 4,184 1,249
Legal and professional fees 16,204 15,984
Training 11,813 17,084
International exhibition costs 703,185 311,864
Marketing 127,322 91,613
Sundry expenses 1,475
1,416,681 1,029,530
Share ofsupport costs (see note 9) 17,136 29,293
Share ofgovernance costs (see note 9) 85,187 82,222
1,519,004 1,141,045
Analysis by fund
Unrestricted funds - general 960,482 840,182
Unrestricted funds - designated 56,600
Restricted funds 558,522 244,263
1,519,004 1,141,045

Support costs
Support Governance 2022 Support Governance 2021
costs costs costs costs
E f:
Staff costs 12,963 75,712 88,675 24,639 75,942 100,581
Depreciation 4,173 4,173 4,654 4,654
Audit fees 5,400 5,400 2,820 2,820
Accountancy 4,075 4,075 3,460 3,460
17,136 85,187 102,323 29,293 82,222 111,515
Analysed between
Charitable activities 17,136 85,187 102,323 29,293 82,222 111,515

The avera ge
monthly
n		 umb er ofemployees
during the year was:
2022 2021
Number Number
Activities in furtherance of the charity's objects 15 14
Managing and administering the charity 4 3
Total 19 17
Employment
costs		 2022 2021
E
Wages and salaries 522,593 610,028
Social security costs 38,310 35,885
Other pension costs 21,610 8,894
582,513 654,807

12 Tangible fixed assets Tangible fixed assets Tangible fixed assets Tangible fixed assets
Leasehold Office Computer Total
improvements equipment Equipment
F E
Cost
At 1 April 2021 124,067 664 17,480 142,211
Additions 3,425 3,425
At 31 March 2022 124,067 664 20,905 145,636
Depreciation
At 1 April 2021 124,067 664 13,526 138,257
Depreciation
charged		 in the year 4,173 4,173
At 31 March 2022 124,067 664 17,699 142,430
Carrying
amount
At 31 March 2022 3,206 3,206
At 31 March 2021 3,954 3,954
13 Financial
instruments		 2022 2021
F F
Carrying
amount		 of financial assets
Debt instruments measured at cost 37,103 1,711,835
Carrying
amount		 of financial liabilities
Measured
at cost		 39,400 182,281
14 Debtors
2022 2021
Amounts
falling		 due within one year: F
Other debtors 37,496 641,757
Prepayments
and		 accrued income 6,457 24,992
43,953 666,749
15 Creditors: amounts falling due within one year
2022 2021
F F
Other taxation
and		 social security 3,373
Trade creditors 20,409 132,490
Other creditors 12,684 19,946
Accruals and deferred income 6,307 29,845
39,400 185,654

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Movement in funds Movement
in funds
Balance at Incoming Resources Balance at Incoming Balance at
1 April 2020 resources expended 1 April 2021 resources 31 March 2022
E E F
Public realm works 69,532 (20,000) 49,532 49,532
Sustainability and
resillience 150,000 (36,000) 113,400 113,400
219,532 (56,000) 162,932 162,932

2022 2021
Within one year 18,172 17,799
Between two and five years 53,612 53,139
71,784 70,938
Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2022 2021
E E
Aggregate
remunerattion		 186,689 151,227

22 Cash generated
from		 operations operations 2022 2021
Net (expenditure)/income for the year (as per the statement offinancial
activities) (573,114) 636,637
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (515) (1,109)
Depreciation
oftangible		 fixed assets 4,173 4,654
Movements
in working		 capital:
Decrease/(increase)
in		 debtors 622,796 (443,282)
(Decrease)/increase
in		 creditors (146,254) 33,899
Cash (absorbed
by)/generated		 from operations (92,914) 230,799