##
##
||Page||
|---|---|---|
|Reference and Administrative
Details|||
|Report of the Trustees|2 to|17|
|Report of the Independent
Auditors|18 to|21|
|Statement
of Financial Activities|22||
|Balance Sheet|23||
|Cash Flow Statement|24||
|Notes to the Cash Flow Statement|25||
|Notes to ths Financial Statements|26 to|42|
##
|TRUSTEES|C W Arnold||||||
|---|---|---|---|---|---|---|
||R A Barradas Slmoes||||||
||J M Brady||||||
||RAJS Glllam||||||
||L K Iredale||||||
||K BO'Hare||||||
||M Parikh||||||
||C Price||||||
||N M Ramshaw||||||
||S SSambht||||||
||M Wilson||||||
||B Kukadai-Moran||(resigned|||18/1/2023)|
|COMPANY SECRETARY|H Anderson||||||
|REGISTERED OFFICE|Patrick Studios||||||
||St Marys Lane||||||
||Leeds||||||
||West Yorkshire||||||
||LS97EH||||||
|REGISTERED COMPANY|03598612(England|||and|Wales)||
|NUMBER|||||||
|REGISTERED CHARITY|1077401||||||
|NUMBER|||||||
|AUDITORS|Halnes Watts||||||
||Chartered
Accountants||||&||
||Statutory Auditors||||||
||3rd Floor||||||
||56 Wellington|Street|||||
||Leeds||||||
||West Yorkshire||||||
||LS1 2EE||||||
|SOLICITORS|Blacks Solicitors||LLP||||
||City Point||||||
||29 King Street||||||
||Leeds||||||
||LS1 2HL||||||
|BANKERS|Unity Trust Bank||||||
||Four Brlndteyplace||||||
||Birmingham||||||
||B12JB||||||
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|for the Year Ended 3|1 March 20|23||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||Unrestricted|Restricted|Total|Total|
|||||fund|funds|funds|funds|
||||||||as restated|
||||Notes|f|||6|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies|||3|205,369||205,369|219,266|
|Charitable
activities|||6|||||
|Core||||187,016||187,016|6,165|
|National
grants||||55,036|186,090|241,126|373,555|
|Rent ofstudio space||||119,985||119,985|182,032|
|Temporary spaces||||476,392||476,392|535,391|
|Regional grants||||10,658||10,658|20,000|
|Other trading
activities|||4|68,719|1,800|70,519|63,478|
|Investment
Income|||5|9,896||9,896|814|
|Other Income|||7|22,356||22,356|286,828|
|Total||||1,155,427|187,890|1,343,317|1,687,529|
|EXPENDITURE ON||||||||
|Charitable
activities||||||||
|Charitable
activities||||2,431||2,431||
|Core||||389,914||389,914|442,530|
|Temporar)r spaces||||463,877||463,877|346,396|
|Studio spaces||||142,810||142,810|121,305|
|Other proJects||||157,899|605,951|763,850|355,442|
|Art hostel||||331,118|25,984|357,102|189,382|
|Total||||1,488,049|631,935|2,119,984|1,455,055|
|NET INCOME)(EXPENDITURE)||||(332,622)|(444,045)|(776,667)|232,474|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|forward|||1,382,071|2,542,379|3,924,450|3,691,976|
|TOTAL FUNDS CARRIED FORWARD||||1,049,449|2,098,334|3,147,783|3,924,450|
##
|Balance Sheet
31 March 2023||||||
|---|---|---|---|---|---|
|||||2023|2022|
|||Unrestricted|Restricted|Total|Total|
|||fund|funds|funds|funds|
||||||as restated|
||Notes||f||f|
|FIXEDASSETS||||||
|Tangible assets|16|1,034,303|2,057,743|3,092,046|3,184,314|
|Investments|17|413||413|413|
|||1,034,716|2,057,743|3,092,459|3,184,727|
|CURRENT ASSETS||||||
|Debtors|18|211,608||211,608|201,691|
|Cash at bank||684,488|40,591|725,079|1,363,423|
|||896,096|40,591|936,687|1,565,114|
|CREDITORS||||||
|Amounts
felling due within one year|19|(190,998)||(190,998)|(124,753)|
|NET CURRENT ASSETS||705,098|40,591|745,689|1,440,361|
|TOTAL ASSETS LESSCURRENT||||||
|LIABILITIES||1,739,814|2,098,334|3,838,148|4,625,088|
|CREDITORS||||||
|Amounts
falling due after more than one year 20||(690,365)||(690,365)|(700,638)|
|NET ASSETS||1,049,449|2,098,334|3,147,783|3,924,450|
|FUNDS|22|||||
|Unrestricted
funds||||1,049,449|1,382,071|
|Restricted
funds||||2,098,334|2,542,379|
|TOTAL FUNDS||||3,147,783|3,924,450|
##
##
##
|ACTIVITIES||||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
||||||||as|
||||||||restated|
||||||||f|
|Net (expenditure)/income|||for the reporting||period (as per the|||
|Statement of Financial Activities)||||||(776,667)|232,474|
|AdJustments|for:|||||||
|Depreciation|charges|||||101,082|103,590|
|Interest received||||||(9,896)|(814)|
|Interest
paid||||||52,118|26,647|
|Ad)ustments||||||(8,444)||
|Decrease/(increase)||in debtors||||33,966|(3,216)|
|Increase/(decrease)||In creditors||||64,727|(209,849)|
|Net cash (used In)/provided||||by operations||(543,114)|148,832|
|ANALYSIS OF CHANGES|||IN|NET FUNDS||||
||||||At 1/4/22|Cash flow|At 31/3/23|
||||||f|f|f|
|Net cash||||||||
|Cash at bank|||||1,363,423|(638,344)|725,079|
||||||1,363,423|(638,344)|725,079|
|Debt||||||||
|Debts falling|due within
1 year||||(30,389)|(1,518)|(31,907)|
|Debts falling|due after 1 year||||(700,638)|10,273|(690,365)|
||||||(731,027)|8,755|(722,272)|
|Total|||||632,396|(629,589)|2,807|
##
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##
##
|over their useful lives on the following b|ases:|||
|---|---|---|---|
|Freehold
land and buildings|2%,2.5%and|5%straight|line|
|Tenants
Improvements|Straight
line over the lease||term|
|Leasehold
Improvements|7years straight|line||
|Fixtures and fittings|20% reducing|balance||
|Computer
equipment|3years straight|line||
##
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##
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##
##
|||||2023|2022|
|---|---|---|---|---|---|
||||||as|
||||||restated|
|Donations||||30|15,751|
|Gift aid||||50|650|
|Grants||||205,289|202,865|
|||||205,369|219,266|
|Grants received,|Included||in the above, are as follows:|||
|||||2023|2022|
||||||as|
|||||f|restated
f|
|Leeds City Council - Arts@Leeds Grant||||45,000|45,000|
|Art Council England||- NPO Grant||160,289|157,865|
|||||205,289|202,865|
|for th|e Year Ended 31 March 2023|e Year Ended 31 March 2023|e Year Ended 31 March 2023|e Year Ended 31 March 2023|e Year Ended 31 March 2023||||
|---|---|---|---|---|---|---|---|---|
|4.|OTHER TRADING ACTIVITIES||||||||
||||||||2023|2022|
|||||||||as|
||||||||f|restated
f|
||Other Income||||||70,519|63,478|
|5.|INVESTMENT INCOME||||||||
||||||||2023|2022|
|||||||||as|
|||||||||restated|
|||||||||8|
||Deposit account||Interest||||9,896|807|
||Co-op dividend||and Interest|||||7|
||||||||9,896|814|
|6.|INCOME FROM CHARITABLE ACTIVITIES||||||||
||||||||2023|2022|
|||||||||as|
|||||||||restated|
||||||Activity|||8|
||Income from charitable||||||||
||activities||||Core||187,016|6,165|
||Grants||||National|grants|241,126|373,555|
||Rent of studio space||||Rent of|studio space|119,985|182,032|
||Donations|and recharges|||||||
||from temporary||space||||||
||programme||||Temporary spaces||476,392|535,391|
||Grants||||Regional|grants|10,658|20,000|
||||||||1,035,177|1,117,143|
||Grants received,||Included|in|the above, are as follows:||||
||||||||2023|2022|
|||||||||as|
|||||||||restated|
|||||||||8|
||Grants||||||||
||||||||251,784|393,555|
||||2023|2022|
|---|---|---|---|---|
|||||as|
|||||restated|
|||||6|
|Business|continuity|grants||252,143|
|Kickstarter|grants||22,356|34,685|
||||22,356|286,828|
||||||Direct|Support||
|---|---|---|---|---|---|---|---|
||||||Costs (see|costs (see||
||||||note 9)
f|note 10)
f|Totals
f|
||Charitable
activities||||2,069|362|2,431|
||Core||||332,557|57,357|389,914|
||Temporary spaces||||461,141|2,736|463,877|
||Studio spaces||||139,879|2,931|142,810|
||Other proJects||||722,735|41,115|763,850|
||Art hostel||||357,039|63|357,102|
||||||2,015,420|104,564|2,119,984|
|9.|DIRECT COSTS|||OF CHARITABLE ACTIVITIES||||
|||||||2023|2022|
||||||||as|
||||||||restated|
|||||||f|f|
||Staff costs|||||660,287|580,113|
||ProJect expenses|||||187,993|89,577|
||Direct costs|||||385,605|257,882|
||Other staffing|costs||||38,726|14,401|
||Programme
costs|||||290,754|131,364|
||Bad and doubfful|||debts||22,874|7,868|
||Irrecoverable|VAT||||43,551|20,599|
||Premises costs|||||214,298|139,970|
||Artists fees|||||7,261|15,785|
||Depreciation|||||114,886|103,590|
||Interest payable||and similar charges|||49,185|24,278|
|||||||2,015,420|1,385,427|
##
##
##
|||||||Governance||
|---|---|---|---|---|---|---|---|
|||||Management
f||costs
f|Totals
f|
|Charitable|activities||||362||362|
|Core||||10,710||46,647|57,357|
|Temporary||spaces||2,610||126|2,736|
|Studio spaces||||2,931|||2,931|
|Other pro)acts||||41,115|||41,115|
|Art hostel|||||63||63|
|||||57,791||46,773|104,564|
|NET INCOME/(EXPENDITURE)||||||||
|Net Income/(expenditure)|||is stated after charging/(crediting):|||||
|||||||2023|2022|
||||||||as|
||||||||restated|
||||||||6|
|Audit and|accountancy|||||11,300|15,327|
|Depreciation||- owned assets||||114,887|103,589|
##
##
##
##
|STAFF COSTS|||
|---|---|---|
||2023|2022|
|||as|
||f|restated
f|
|Wages and salaries|596,199|523,698|
|Social securlly costs|47,321|41,163|
|Other pension costs|16,767|15,252|
||660,287|580,113|
||||2023|2022|
|---|---|---|---|---|
|||||as|
|||||restated|
|Employees|||27|20|
|No employees|received emoluments|In excess of260,000.|||
##
##
##
|During
the year the
total
remuneration
paid
to key management
perso
8122,789).|During
the year the
total
remuneration
paid
to key management
perso
8122,789).|During
the year the
total
remuneration
paid
to key management
perso
8122,789).|During
the year the
total
remuneration
paid
to key management
perso
8122,789).|During
the year the
total
remuneration
paid
to key management
perso
8122,789).|nnel
was f11|3,986 (2022|
|---|---|---|---|---|---|---|
|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|||||||
|||||Unrestricted|Restricted|Total|
|||||fund|funds|funds|
|||||||as restated|
|||||||F|
|INCOME AND ENDOWMENTS|||FROM||||
|Donations
and legacies||||219,266||219,266|
|Charitable
activities|||||||
|Core||||6,165||6,165|
|National
grants||||71,876|301,679|373,555|
|Rent ofstudio space||||182,032||182,032|
|Temporary spaces||||535,391||535,391|
|Regional grants|||||20,000|20,000|
|Other trading
activities||||52,637|10,841|63,478|
|Investmentlncome||||814||814|
|Otherincome||||286,828||286,828|
|Total||||1,355,009|332,520|1,687,529|
|EXPENDITURE ON|||||||
|Charitable
activities|||||||
|Charitable
activities|||||||
|Core||||95,683|346,847|442,530|
|Temporary
spaces||||346,396||346,396|
|Studio spaces||||121,305||121,305|
|Other pro)acts||||355,442||355,442|
|Art hostel||||157,875|31,507|189,382|
|Total||||1,076,701|378,354|1,455,055|
|NET INCOMEI(EXPENDITURE)||||278,308|(45,834)|232,474|
|Transfers
between|funds|||8S,9S6|(88,986)||
|Net movement
In funds||||367,294|(134,820)|232,474|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought||forward|||||
|As previously
reported||||1,058,660|2,677,199|3,735,859|
|Prior year adJustment||||(43,883)||(43,883)|
|As restated||||1,014,777|2,677,199|3,691,976|
|TOTAL FUNDS CARRIED FORWARD||||1,382,071|2,542,379|3,924,450|
##
##
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
|||Improvements|Fixtures|
||Freehold|to|and|
||property
f|ploperty|fINngs
f|
|COST||||
|At 1 April 2022|3,388,690|71,603|184,731|
|Additions|9,439||13,180|
|Dieposals||||
|At 31 March 2023|3,398,129|71,603|197,911|
|DEPRECIATION||||
|At 1 April 2022|424,528|852|40,030|
|Charge for year|69,905|10,229|31,162|
|Eliminated
on disposal||||
|At 31 March 2023|494,433|11,081|71,192|
|NET BOOK VALUE||||
|At 31 March 2023|2,903,696|60,522|126,719|
|At 31 March 2022|2,964,162|70,751|144,701|
||Tenants|Computer||
||Improvements
f|equipment
6|Totals
f|
|COST||||
|At 1 April 2022|142,555|76,016|3,863,595|
|Additions|||22,619|
|Disposals|(13,804)||(13,804)|
|At 31 March 2023|128,751|76,016|3,872,410|
|DEPRECIATION||||
|At 1 April 2022|140,327|73,544|679,281|
|Charge for year|2,229|1,362|114,887|
|Eliminated
on disposal|(13,804)||(13,804)|
|At 31 March 2023|128,752|74,906|780,364|
|NET BOOK VALUE||||
|At 31 March 2023||1,110|3,092,046|
|At 31 March 2022|2,228|2,472|3,184,314|
##
##
##
##
|FIXEDASSET INVESTMENTS||
|---|---|
||Unlisted|
||Investments|
||8|
|MARKET VALUE||
|At 1 April 2022 and 31 March 2023|413|
|NET BOOK VALUE||
|At 31 March 2023|413|
|At 31 March 2022|413|
|Ths charity purchased|f50 of Investment|f50 of Investment|f50 of Investment|on 19|September|2007|which|was|allocated|Into|the
Phone|
|---|---|---|---|---|---|---|---|---|---|---|---|
|Co-op share capital account.|||The charity|receives dividends||as a|percentage||on their call||expenditure|
|and Interest as a percentage|||of their Investment||which Is retained||within|their|Investment|share
capital||
|account.||||||||||||
|DEBTORS:AMOUNTS|FALLING DUE WITHIN||||ONE YEAR|||||||
||||||||||2023||2022|
||||||||||||as|
||||||||||||restated|
||||||||||||f|
|Trade debtors|||||||||110,196||27,706|
|Other debtors|||||||||66,943||157,645|
|Prepayments
and accrued||income|||||||34,469||16,340|
||||||||||211,608||201,691|
|CREDITORS: AMOUNTS||FALLING DUE||WITHIN ONE YEAR||||||||
||||||||||2023||2022|
||||||||||||as|
||||||||||||restated|
||||||||||f||f|
|Bank loans and ovsrdrafts||(see note 21)|||||||31,907||30,389|
|Trade creditors|||||||||60,974||30,696|
|Social security and other taxes|||||||||12,407||9,802|
|Other creditors|||||||||20,421||19,930|
|Accrusls and deferred|income||||||||65,289||33,936|
||||||||||190,998||124,753|
##
##
##
##
##
##
|MOVEMENT
IN FUND|S||||
|---|---|---|---|---|
||||Net||
||||movement|At|
|||At 1/4/22|in funds|31/3/23|
|||f|f|f|
|Unrestricted
funds|||||
|General
fund||1,382,071|(332,622)|1,049,449|
|Restricted funds|||||
|Capital Project||1,160,657|(39,676)|1,120,981|
|Barkston Ceramics||6,200|(2,090)|4,110|
|MARYS Capital Pro)ect||455,890|(22,589)|433,301|
|Programme
CLLD||5,069|(5,069)||
|ACE Convention
House||319,509|(19,930)|299,579|
|Leeds CC Convention|House|82,535|1,800|84,335|
|Programme
GUILD||82,086|(82,086)||
|WYCA Bike Shed||5,000|(5,000)||
|Add Fuel||27,279|(3,317)|23,962|
|Art Hostel Commissions||13,992|(2,978)|11,014|
|Art Hostel Refurbishment||138,443|(23,006)|115,437|
|WYCA||9,688|(9,688)||
|Garfield Weston||143,507|(142,892)|615|
|Haribo Happiness||574|4,426|5,000|
|DCMS - CRF Grant Round One||91,950|(91,950)||
|||2,542,379|(444,045)|2,098,334|
|TOTAL FUNDS||3,924,450|(776,667)|3,147,783|
##
##
|Net movement
In funds|,
Included
In the above|are as follows:|||
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources
f|expended
f|in funds
8|
|Unrestricted
funds|||||
|General fund||1,155,427|(1,488,049)|(332,622)|
|Restricted funds|||||
|Capital Project|||(39,676)|(39,676)|
|Barkston Ceramics|||(2,090)|(2,090)|
|MARYS Capital Project|||(22,589)|(22,589)|
|Programme
CLLD|||(5,069)|(5,069)|
|ACE Convention
House|||(19,930)|(19,930)|
|Leeds CC Convention|House|1,800||1,800|
|Programme
GUILD||180,828|(262,914)|(82,086)|
|WYCA Bike Shed|||(5,000)|(6,000)|
|Add Fuel|||(3,317)|(3,317)|
|Art Hostel Commissions|||(2,978)|(2,978)|
|Art Hostel Refurbishment|||(23,006)|(23,006)|
|WYCA|||(9,688)|(9,688)|
|Garfield
Weston||262|(143,154)|(142,892)|
|Haribo Happiness||5,000|(574)|4,426|
|DCMS - CRF Grant Round One|||(91,950)|(91,950)|
|||187,890|(631,935)|(444,045)|
|TOTAL FUNDS||1,343,317|(2,119,984)|(776,667)|
##
|Comparatlves
fo|r movem|ent
In funds|||||
|---|---|---|---|---|---|---|
||||Prior|Net|Transfers||
||||year|movement|between|At|
|||At 1/4/21
f|adjustment
f|in funds
6|funds
f|31/3/22
f|
|Unrestricted
funds|||||||
|General
fund||1,058,660|(43,883)|278,308|88,986|1,382,071|
|Restricted funds|||||||
|Capital Project||1,189,337||(28,680)||1,160,657|
|DCMS - CRF Grant|||||||
|Round Two||||88,986|(88,986)||
|Barkston Ceramics||8,773||(2,573)||6,200|
|MARYS Capital Project||455,890||||455,890|
|Programme
CLLD||||5,069||5,069|
|ACE Convention|House|343,221||(23,712)||319,509|
|Leeds CC Convention|||||||
|House||82,535||||82,535|
|Programme
GUILD||45,529||36,557||82,086|
|WYCA Bike Shed||5,000||||5,000|
|Add Fuel||27,279||||27,279|
|Art Hostel Commissions||13,992||||13,992|
|Art Hostel|||||||
|Refurbishment||149,950||(11,507)||138,443|
|Powerto Change||12,550||(12,550)|||
|WYCA||9,688||||9,688|
|Garfield Weston||165,749||(22,242)||143,507|
|Harlbo Happiness||5,000||(4,426)||574|
|DCMS - CRF Grant|||||||
|Round One||162,706||(70,756)||91,950|
|||2,677,199||(45,834)|(88,986)|2,542,379|
|TOTAL FUNDS||3,735,859|(43,883)|232,474||3,924,450|
##
##
|Comparative
net movement
In funds, Included|In the above are as follow|s:||
|---|---|---|---|
||Incoming|Resources|Movement|
||resources
f|expended
f|In funds
f|
|Unrestricted
funds||||
|General
fund|1,355,009|(1,076,701)|278,308|
|Restricted funds||||
|Capital Project||(28,680)|(28,680)|
|DCMS - CRF Grant Round Two|118,421|(29,435)|88,986|
|Barkston Ceramics||(2,573)|(2,573)|
|ARG Restart Grant|20,000|(20,000)||
|Programme
CLLD|10,841|(5,772)|5,069|
|ACE Convention
House||(23,712)|(23,712)|
|Programme
GUILD|183,258|(146,701)|36,557|
|Art Hostel Refurbishment||(11,507)|(11,507)|
|Power to Change||(12,550)|(12,550)|
|Garfield Weston||(22,242)|(22,242)|
|Haribo Happiness||(4,426)|(4,426)|
|DCMS - CRF Grant Round Ons||(70,756)|(70,756)|
||332,520|(378,354)|(45,834)|
|TOTAL FUNDS|1,687,529|(1,455,055)|232,474|
##
##
##
|A current year 12|months
|and prior year 12|months
combin|ed
position
Isa|s follows:||
|---|---|---|---|---|---|---|
||||Prior|Net|Transfers||
||||year|movement|between|At|
|||At 1/4/21
f|adjustment
f|In funds
f|funds
f|31/3/23
f|
|Unrestricted
funds|||||||
|General
fund||1,058,660|(43,883)|(54,314)|88,986|1,049,449|
|Restricted funds|||||||
|Capital Project||1,189,337||(68,356)||1,120,981|
|DCMS - CRF Grant|||||||
|Round Two||||88,986|(88,986)||
|Barkston Ceramics||8,773||(4,663)||4,110|
|MARYS Capital Project||455,890||(22,589)||433,301|
|ACE Convention|House|343,221||(43,642)||299,579|
|Leeds CC Convention|||||||
|House||82,535||1,800||84,335|
|Programme
GUILD||45,529||(45,529)|||
|WYCA Bike Shed||5,000||(5,000)|||
|Add Fuel||27,279||(3,317)||23,962|
|Art Hostel Commissions||13,992||(2,978)||11,014|
|Art Hostel|||||||
|Refurbishment||149,950||(34,513)||115,437|
|Powerto Change||12,550||(12,550)|||
|WYCA||g,eee||(9,688)|||
|Garfield Weston||165,749||(165,134)||615|
|Harlbo Happiness||5,000||||5,000|
|DCMS - CRF Grant|||||||
|Round One||162,706||(162,706)|||
|||2,677,199||(489,879)|(88,986)|2,098,334|
|TOTAL FUNDS||3,735,859|(43,883)|(544,193)||3,147,783|