Company number 03651554 Charity number 1079943
## **Live Art Development Agency**
**(Limited by Guarantee)**
**Report and Financial Statements for the year ended 31 March 2021**
**Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH**
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Contents**
||Page|
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2 - 9|
|Independent Examiner's Report|10|
|Statement of Financial Activities (including Income and Expenditure Account)|11 - 14|
|Balance Sheet|15|
|Notes to the Financial Statements|16 - 24|
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Reference and Administrative Details**
## **Constitution**
The company is incorporated under the Companies Act, company number 03651554 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1079943.
## **Directors and trustees**
The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
As set out in the Articles of Association the trustees are appointed by members of Live Art Development Agency at our Annual General Meeting (AGM). Any member so appointed shall retain his office only until the next AGM, but he shall then be eligible for re-election.
Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.
The trustees during the year and since the year end were:
Ansuman Biswas Dominic Johnson resigned 1 September 2021 Peter Law Gill Lloyd Claire MacDonald Jonathan Michael May resigned 8 June 2021 Shaheen Merali Amitabh Shambhu Rai resigned 26 May 2021 Susan Sheddan Gini Simpson Marquard Smith resigned 17 July 2020 Cecilia Wee resigned 31 March 2021
## **Secretary**
Gini Simpson
**Chief executive/day to day management** Lois Keidan resigned 30 June 2021 Megan Vaughan interim appointment 1 July 2021 to 31 August 2021 Barak adé Soleil appointed 1 September 2021 Chinasa Vivian Ezugha appointed 1 September 2021
## **Independent examiners**
Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.
## **Bankers**
HSBC plc, Lion House, 25 Islington High Street, London N1 9JL. Redwood Bank, The Nexus Building, Letchworth Garden City Hertfordshire SG6 3TA.
## **Registered office and operation address**
The Garrett Centre, 117a Mansford Street, London E2 6LX.
1
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Trustees' Report**
The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **Structure, governance and management**
The Live Art Development Agency (LADA) is a company limited by guarantee and registered charity. It is governed by its Memorandum and Articles of Association dated 16 October 1998 and amended to allow for current governance arrangements on 22 February 2000.
Directors of the Company appoint members as new Company Directors either to fill a casual vacancy or by way of addition to their members. Induction of new Company Directors is provided through a meeting with the Chair of the Board and staff, who provide up-to-date information on the organisation and its finances.
The Board of Directors govern the Charity. The Board meet quarterly. A Director is appointed by the Board of Directors to manage the day-to-day operations of the Charity. To facilitate effective operations, the Director has delegated authority, within terms of delegation approved by the Board, for operational matters including finance, employment and artistic performance related activity.
The Board of Directors has a risk management strategy which comprises:
ꞏ an annual review of the risks the charity may face;
ꞏ the establishment of systems and procedures to mitigate those risks identified in the plan; and
ꞏ the implementation of procedures designed to minimise any potential impact on the charity should those matters materialise.
The work has identified only a few minor risks but it has resulted in better emergency procedures and contingency plans and has given the impetus for better planning.
## **Objectives and activities for the public benefit**
In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
The objectives for which the charitable company was established, as defined in the Memorandum and Articles of Association, are to advance the education of the public by promoting the arts, particularly by facilitating the development of the Live Art sector in London.
LADA is committed to supporting contemporary artists who engage in risk-taking and experimental practices, particularly those who may be emerging and reflect communities that have been historically excluded. With the arrival of new Co-Directors in 2021, LADA will be intentionally focused on intersectionality, disability culture and access, and we plan for additional resources to go towards this vital work from 2021/22 onwards.
The Board of Directors have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
2
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Trustees' Report**
The charity relies on grants and the income from fees and charges to cover its operating costs. In setting the level of fees and in deciding on those who are to be supported, the trustees give careful consideration to the accessibility of the charity to all members of the public.
## **Organisational developments**
In 2020/21, LADA continued to serve the needs and interests of artists working in Live Art in London and the UK. The organisation continued to profile itself as 'a Centre for Live Art': a knowledge and research centre; a production centre for programmes and publications; and an online centre for representation and dissemination.
LADA has signed a Funding Agreement with Arts Council England (ACE) regarding its National Portfolio Organisation (NPO) funding for 2018-22. Confirmation of a one-year extension to this agreement, to March 2023, is expected by 20th December 2021, following the extension of Arts Council England's support in response to the Covid-19 pandemic.
In Summer 2020, LADA's founding Director, Lois Keidan, announced her decision to step aside from the role in 2021, in order to address the urgent need for greater racial equity and representation in the leadership of Live Art. Following that announcement, a significant organisational review was undertaken with the assistance of expert consultants and advisors from across the sector, assessing the leadership needs of LADA and the Live Art sector more broadly, with several proposals discussed by Trustees.
Following extensive consultation and review, the priorities for leadership recruitment were determined to be a) advocacy for artists and practices historically underrepresented in our organisation and sector, and b) the positioning of artists at the centre of organisational decision-making. A new staff structure and pay scale was also designed and implemented during this review.
The leadership opportunity was advertised in March 2020 with collective and shared leadership proposals encouraged. New Co-Directors Barak adé Soleil and Chinasa Vivian Ezugha were recruited in Spring 2021 through a competitive, two-stage process which involved a panel of LADA Trustees, artists and arts workers, and with observation from an Arts Council England representative.
For the two months between Lois Keidan's departure and the arrival of the new Co-Directors, interim leadership duties were undertaken by Finance & Administration Manager Megan Vaughan, ensuring consistent operational oversight during the transition.
2020/21 was LADA's third full year in The Garrett Centre, Bethnal Green. LADA continued to benefit from the 'Small Capital' grant received from Arts Council England at the start of this current lease, in 2017, which has helped support the purchase of a six year leasehold interest on the new facility, and equipment/fittings for the space.
LADA temporarily closed its space to staff, public and 'desk-scheme' users in March 2020, postponing programmes and events, when the global Covid-19 pandemic arrived and the World Health Organisation and UK government instigated national restrictions and measures to curb the spread of the virus. Pandemic-related safety measures continued to affect public opening and staff use throughout 2020/21.
We welcomed the public back to the building, initially in very limited numbers, from the beginning of 2021/22.
LADA's Unbound shop closed for six weeks during the height of the pandemic lockdown, but resumed operation online from May 2020. Its physical location within our Garrett Centre space remained closed throughout 2020/21, but reopened from the beginning of 2021/22.
3
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Trustees' Report**
## **Achievements and Performance**
LADA's activities currently fall into four areas: resources; opportunities; projects; and publishing. Activities in each of these areas work towards enabling artists working in Live Art, developing the audiences who engage with Live Art and sustaining the infrastructure that supports Live Art. Our future priorities, and the way we organise our projects, will be reviewed by the new Co-Directors.
## **1. Resources:**
## **Access to a wealth of material about Live Art.**
LADA launched a new website in 2019/20 - hosted at www.thisisLiveArt.co.uk - and 2020/21 was its first full year of operation. Its flexibility and integration of media has offered us an excellent platform from which to showcase artist projects and share resources. During the pandemic lockdown and travel restrictions, it has been utilised in new ways in order for LADA to continue its work.
LADA launched three new Study Room Guides in 2020/21: Managing the Radical, by Dr Amit Rai, part of our Restock Rethink Reflect collaboration with Queen Mary, University of London; Tantalising Glimpses, a study on fat performance by Dr Charlotte Cooper; and EcoFutures, by Arts Feminism Queer/CUNTemporary, which approaches environmental sustainability from a queer feminist perspective.
As LADA's physical Study Room was closed due to the pandemic, we created a series of thematic 'Lockdown Lists', sharing information on key works and Live Art research under the headings 'Time', 'Boxed In', and 'Distance'.
In anticipation of an update (forthcoming in 2021) to Documenting Live, LADA's 2008 essay on performance-based art and the racialised body by David A. Bailey, we made the original work available online.
As part of our Summer Programme of online activity, LADA Patron Lois Weaver created a digital learning resource entitled Syllabus For Making Something, 2007-2020, offering a course structure and series of readings and actions which could be undertaken from home.
The Study Room in Exile, LADA's satellite Study Room housed in the Institute for the Art and Practice of Dissent at Home in Liverpool, was also closed during to the pandemic. Those resources are now to be distributed amongst local social justice organisations, including within prisons.
Unbound, our online shop selling Live Art books, DVDs and editions, continued to provide a reliable income stream for our organisation, despite the disruption caused by the Covid pandemic. After temporarily closing in March 2020, by May 2020 regular online sales and dispatches were taking place again. Unbound has proved to be an effective extension of LADA's work in publishing, critical discourse and increasing access to Live Art; a valuable resource nationally and internationally; and a source of earned income to reinvest in LADA's activities.
A core resource of LADA is the extensive knowledge and experience within the staff. We continued to offer information and advice to artists, students, and national and international promoters through email and online meetings, even when in-person advisory sessions have not been possible.
## **2. Opportunities: Support strategies and services for established and emergent artists, organisations, and those working in Higher Education.**
We continued to run DIY, providing opportunities for artists working in Live Art to conceive and run unusual training and professional development projects for other artists. This cohort of DIY projects was extended to run over two years due to pandemic disruption.
DIY 2020 saw 24 projects take place across the UK, and online, from Summer 2020, produced in collaboration with 23 national partner organisations.
Some of DIY 2020's highlights include an exploration of process mapping, non-human governance, the experience of sensory underload, and the post-colonial body.
4
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Trustees' Report**
DIY 2020 partner organisations are: Artsadmin (London), Artshouse Jersey (Jersey), Cambridge Junction (Cambridge), Chapter (Cardiff), Colchester Arts Centre (Colchester), Compass Live Art (Leeds), hÅb (Manchester), Fermynwoods Contemporary Art (Kettering), Folkestone Fringe (Folkestone), Heart of Glass (St Helens), HOME Manchester (Manchester), ICA (London), Ideas Test (Kent), Lancaster Arts (Lancaster), Metal Peterborough (Peterborough), Museum of London (London), National Theatre (London), Norwich Arts Centre (Norwich), Sick of the Fringe (London), Something To Aim For (London), Scottish Sculpture Workshop (Aberdeenshire), The Place (Bedford), and Wellcome Collection (London).
With the support and advocacy of the British Council North America, we concluded our programme of DIYs led by acclaimed and experienced UK based practitioners to artists in the USA and Canada. The final iteration of the project, 'Touching Together', was delivered digitally by Dickie Beau with an international cohort of artists in April 2020.
LADA's second Arthole Artist's Award was awarded in 2019/20 to Stacy Makishi, and her work on this self-directed programme continued throughout 2020/21. Arthole is a LADA initiative intended to plug a hole in art funding for open-ended research and professional development through individual patronage.
Alongside Stacy Makishi's continued Arthole programme, we activated 3 further bursary opportunities in 2020-21: Katayoun Jalilipour and Tammy Reynolds were recipients of the two Katherine Araniello bursary awards for early career disabled artists making radical political performance work, while Aislinn Evans was the recipient of the Future Proofing bursary, and opportunity for an artist aged 25 or under to reimagine the future they wanted to see. Aislinn's bursary programme resulted in a zine, Chump Change, about the economics of the arts, while Katayoun and Tammy's bursary programmes continue into 2021-22.
We continued to support Higher Education, providing talks for Higher Education institutions in an online format during the closure of our Study Room.
In 2020/21, LADA concluded its second year delivering MA Live Art in partnership the Department of Drama at Queen Mary University of London: a new postgraduate course dedicated to the research, practice, and programming of Live Art. Partly based at LADA, MA Live Art is a specialised programme of taught postgraduate study led by research leaders, industry professionals, and high-profile artists. In response to the public health restrictions made necessary by the Covid-19 pandemic, the course was paused for the academic year 2020/21, but has now resumed for 2021/22.
LADA continued as cultural sector partners on a PhD project, Hauntings and Herstories: Feminist Live Art in 1980s and 1990s Ireland, led by Clare Daly in collaboration with Adrian Heathfield and Eleanor Roberts of the Department of Drama at the University of Roehampton, funded by the TECHNE doctoral awards scheme. With the departure of Lois Keidan from LADA in June 2020, LADA's Co-Directors are now working with University of Roehampton to develop new ways of facilitating this project.
5
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Trustees' Report**
## **3. Projects:**
## **Activities and events to increase the profile of Live Art, further critical debates, provide opportunities for artists, develop new audiences, and lobby for change.**
LADA continued to act as the lead organisation for Live Art UK, the national network of 30 Live Art promoters. Members work collectively and individually on new models and partnerships for the promotion of Live Art; on new ways to increase the national and international visibility of Live Art through writing, publishing and audience development initiatives; on strategies for a more sustainable future for Live Art practitioners and promoters.
In the absence of live events and activities during the pandemic, LADA launched an extensive 6-week Summer Programme, weekly offerings of screenings, talks, presentations and 'live' online events during June and July 2020. The programme included contributions by LADA's artist Patrons, a selection of LADA Screens 'Greatest Hits' and the presentations of Once More with Feeling - a series of instruction and reenactment pieces invited as a response to the Covid-19 pandemic.
LADA Screens 'Greatest Hits' included works by: Neil Bartlett, Shaun Caton, George Chakravarthi, Curious and Andrew Kötting, Robin Deacon, Nicola Fornoni, The Gluts, Noëmi Lakmaier, M21, Nando Messias, Ada M Patterson, Project O, and Amy Sharrocks.
We premiered Z, a new performance film by Keith Khan, who was accompanied in conversation by Joseph Morgan Schofield.
Works by LADA Patrons included: a new performance for camera by Neil Bartlett, new film works by Anne Bean and Guillermo Gómez-Peña, and screenings of rarely-seen film works by Tim Etchells, Raimund Hogue, Tehching Hseih, and La Ribot. Lois Weaver created a new programme of readings and actions as a digital learning resource, and Ron Athey gave a 'live' special presentation: a lecture on penetration in Live Art and video.
Artists Ally Poole, Jamie Hale, Krishna Istha, and River Lin were commissioned to create reenactment films for the Once More With Feeling presentations.
Alongside this Summer Programme, we offered two collaborative digital residency opportunities, inviting artists to jointly propose projects that could be undertaken remotely, during lockdown measures. Recipients were Jemima Yong and Kei Franklin, and Jet Moon and her collaborator Giani.
In October 2020, LADA co-hosted PerformingbordersLIVE: Unbordering, a 3-day digital festival of new commissions and conversations exploring borders-free collaborative Live Art practices. These events were live-streamed via US platform Howlround. Artists participating and sharing works included: Mohamad Ali "Dali" Agrebi, Sebastian Aguirre, Camille Barton, Àníké Bello, Burong, Season Butler, Whiskey Chow, Carolyn Defrin, Jade Foster, Chandra Frank, Harriet Hawkins, Critical Interruptions, Istanbul Queer Art Collective, Tania El Khoury, Syowia Kyambi, Elena Marchevska, Jade Montserrat, Webb-Ellis, The White Pube, Pankaj Tiwari, and Daniella Valz Gen.
LADA continued its work in digital and web-based technologies to support and develop artists and audiences, including:
- LADA Screens, a series of free, online screenings of seminal performance documentation, works to camera, short films and archival footage;
- Live Online, a series of online channels featuring short films selected from LADA's Study Room or generated through our programmes;
- The twelfth year of our collaboration with the British Library on hosting the Live Art Web Collection (an online collection of key UK Live Art sites);
- Continued profiling of recent projects NRLA30, celebrating the 30th anniversary of the National Review of Live Art in Glasgow, and Edge of an Era, which revisited seminal performance events which took place in the UK in the 1980s.
6
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Trustees' Report**
LADA's Restock, Rethink, Reflect (RRR) is a series of initiatives about Live Art and cultural difference, mapping and marking the impact of underrepresented artists and investing in future generations. RRR5: Managing The Radical continued in 2020/21, and moved from a consideration of what it means to 'manage' radical ideas and practices, to the practical application of this thinking to LADA's own organisational development. The first phase of the project (a collaboration with the MtR Action Research Group) was partly funded by the Collaborations Fund of the Faculty of Humanities and Social Sciences at Queen Mary, University of London.
LADA's work on the Accelerator Programme, a partnership between Julie's Bicycle and Arts Council England, continued in 2020/21. The Accelerator Programme is designed to inspire environmental action across the arts and cultural sector, and LADA worked with Live Art UK, Gasworks, and The Triangle Network to think strategically about climate justice. As part of this programme, artist and activist Ama Josephine Budge ran a series of workshops for LADA staff, and began to research a new Study Room Guide on Climate Justice, forthcoming in 2021.
LADA's partnership with Pro Helvetia, the Swiss Arts Council, continued in 2020/21. While two artist residencies were postponed until 2021/22 due to the pandemic, work continued on a Swiss Live Art Study Room Guide by Andrea Saemann and Madeleine Amsler.
In 2020-21, we continued our major Live Art sector research project in partnership with Live Art UK, and funded by Arts Council England. This unprecedented research project maps the impact and influence of Live Art in the UK, and begins to address the sector's complexity, diversity and achievements. As the pandemic unfolded in 2020, Arts Council England supported LADA's request for a second phase of the project to undertake an analysis of the sector's response and resilience following Covid-19. The research was undertaken by Dr Elyssa Livergant and Dr Cecilia Wee (London), in collaboration with Dr Johanna Linsley (Dundee), Dr Tim Jeeves (Liverpool), Dr Tarek Virani (Bristol), and Chinasa Vivian Ezugha (Hampshire) and is accompanied by artist and writer commissions. Its launch date was October 2021.
## **4. Publishing:**
## **Advancing engagement with Live Art through partnering major publishers on key critical titles; publishing our own books and DVDs; and co-publishing artists' books and DVDs.**
LADA has established itself as one of the world's leading Live Art publishers, specialising in critical titles on influential ideas and practitioners; artist-led publications and editions; Box Set artworks, resources and critical tools; free online publications; and on-demand DVDs.
2020/21 saw significant achievements in our publishing work. We published a range of titles in collaboration with artists and publishing partners in the UK and internationally, including:
- Mishandled Archive by Tara Fatehi Irani, which records and reflects on Irani's intentional scattering and displacement of a family archive;
- A Good Love Story by Sibylle Peters, a document of the Heteraclub project, in which hundreds of women shared their stories of love and pleasure;
- In Other Words by METAL, a collection of urgent reflections, created by 49 artists over 4 months in 2020 exploring their hopes and fears for the future at a time of global crisis;
- Shortlist Live #2, a collection of essays on the artists shortlisted for ANTI Festival's International Prize for Live Art;
- Because of Love (e-book), a digital reissue of Franko B's now out of print memoir. Publication launch events took place online.
7
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Trustees' Report**
## **Plans for future periods**
While the Covid-19 pandemic disrupted many of LADA's programming plans and activities throughout 2020/21, LADA is committed to the ongoing success and development of its projects and programmes. New Co-Directors, Barak adé Soleil and Chinasa Vivian Ezugha are beginning to initiate new activities and initiatives while offering continued support for those which were initiated by our former Director, such as the Live Art Sector Research project.
## Current plans include:
- Education: co-convening of MA Live Art, alongside Queen Mary, University of London, has recommenced in 2021/22, with a new programme of artist talks, workshops and study sessions underway;
- Resources: Study Room development will prioritise artists and artforms that have been historically excluded and underrepresented, as well as increasing the accessibility of our collection (physically and digitally);
- Opportunities: a development of LADA's flagship DIY programme, to ensure that future professional development workshops and opportunities are appropriately responding to the needs of artists today;
- Organisational: the development and resourcing of sector-leading access policies and practices, ensuring LADA's work is accessible to all.
- Staffing: a reimagining of the current Space & Resources role to facilitate the recruitment of an access officer and administration assistant.
## **Financial review**
The company had net incoming resources on unrestricted funds, a surplus, of £7,897 for the year. Together with the accumulated surplus brought forward from previous years, the company now has an accumulated surplus on unrestricted funds of £116,192 (2020: surplus of £108,295). Restricted funds carried forward at 31 March 2021 amounted to £144,364 (2020: £185,800). This is sufficient for the activities for which the funds were provided.
## **Risk analysis and reserves policy**
The Board of Directors undertakes an annual review of the risks the Charity may face for the purpose of establishing what level of reserves the Company needs to hold. The liabilities have been identified as the likelihood of having to pay redundancies in the event of a large funding cut and the commitment to the office licence agreement.
The financial impact of the Covid pandemic has been managed through prudent spending decisions, and minimal use of the government's Coronavirus Job Retention Scheme. LADA has not needed to apply for emergency funds available from DCMS via Arts Council England.
At present, Arts Council England (ACE) funding is formally agreed until March 2022, with a further agreement covering 2022/23 expected in 2021 (following ACE's decision, a result of the Covid-19 pandemic, to delay a new multi-year application process). ACE funding for 2018-22 was awarded at standstill level, with a small inflationary increase of 1.84% additionally paid from 2020.
LADA moved to new premises in September 2017, and its new office lease is for a ten year period. The lease excludes sub-letting. LADA's Arts Council England 'Small Capital Grant' award allowed the organisation to make a lump sum leasehold interest payment in 2017/18 to its new landlord, representing six years of rent.
Rent waivers and discounts applied by LADA's landlords during the Covid-19 pandemic in 2020/21 have meant that this leasehold interest payment is now expected to cover approximately 5 additional months.
8
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Trustees' Report**
LADA's Board has agreed that in the event of ACE deciding to cut their funding there would certainly be a reasonable notice period given (likely to be no less than six months). This notice period would enable LADA to issue redundancy notices to staff, and it is likely that redundancy payments could be met by the final installments of funding from ACE. However, there may be a need to maintain staff beyond that to complete commitments to LADA projects, and the Board has therefore determined the need to maintain a strategic reserve to cover these costs.
LADA's strategic reserve at 31 March 2021 is £67,500, the equivalent of six month's rent and an allocation for staff costs. This represents an increase of £7,500 since 31 March 31 2020, and LADA plans to increase the level of this reserve again in future years.
## **Small company exemptions**
This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.
This report was approved by the Board of Trustees on 4 November 2021 and signed on its behalf by
Gill Lloyd (Nov 10, 2021 10:20 GMT)
## **Gill Lloyd Trustee**
9
## **Independent Examiner's Report to the Trustees of Live Art Development Agency**
I report on the accounts of the company for the year ended 31 March 2021, which are set out on pages 11 to 24.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
- ꞏ examine the accounts under section 145 of the 2011 Act;
- ꞏ follow the procedures laid down in the general Directions given by the Charity Commission (under section
- 145(5)(b) of the 2011 Act; and
- ꞏ state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- ꞏ to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- ꞏ 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: Accounting and Reporting by Charities
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Richard Nelson FCCA**
## **Breckman & Company Ltd Chartered Certified Accountants**
49 South Molton Street London W1K 5LH
4 November 2021
10
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2021**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Income and endowments from:**
**2**
Donations and legacies - page 12
261,283
-
Charitable activities
Charitable income - page 12
32,022
64,227
Investments
421
-
**Total**
293,726
64,227
**Expenditure on:**
Charitable activities:
Charitable expenditure - page 13
311,396
80,096
**Total**
311,396
80,096
**Net income / (expenditure)**
**3**
)
(17,670
)
(15,869
Transfers between funds
**14, 15**
25,567
)
(25,567
**Net movement in funds**
7,897
)
(41,436
**Reconciliation of funds:**
**Total funds brought forward**
108,295
185,800
**Total funds carried forward**
**14, 15**
116,192
144,364|**2021**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**£**
**£**
**£**
261,283
246,524
-
96,249
45,577
163,181
421
1,589
-
357,953
293,690
163,181
391,492
343,184
146,627
391,492
343,184
146,627
)
(33,539
)
(49,494
16,554
-
51,640
)
(51,640
)
(33,539
2,146
)
(35,086
294,095
106,149
220,886
260,556
108,295
185,800|**2020**
**Total**
**£**
246,524
208,758
1,589
456,871
489,811
489,811
)
(32,940
-
)
(32,940
327,035
294,095|
|---|---|---|
The notes on pages 16 to 24 form an integral part of these financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
11
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Year ended 31 March 2021**
|**Income from donations and legacies**
**Grants**
COVID-19 emergency funding
HMRC Coronavirus Job Retention Scheme
Arts Council England (ACE) - NPO
**Donations**
20th Anniversary Gala event
Donations
**Income from charitable activities**
**Charitable income**
Commission/partnership fees
Seminars/talks
Reimbursed expenses
Bookshop/publishing income
**Project specific funding**
**Grants/Donations**
ACE - Catalyst
ACE - Sector Research Grant
Partnerships
The School for Social Entrepreneurs
Donations|**2021**
**£**
18,424
240,186
-
2,673
261,283
2,658
1,984
4,993
22,387
32,022
-
13,320
48,607
2,000
300
64,227|**2020**
**£**
-
235,846
6,518
4,160|
|---|---|---|
|||246,524|
|||20,998
2,228
450
21,901|
|||45,577|
|||9,588
31,500
107,631
-
14,462|
|||163,181|
12
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Year ended 31 March 2021**
|**Expenditure on charitable activities**
**Production/project costs**
Stock
Salaries
Artist fees
Technical/production/design
Other fees
Social security costs
Print/distribution
Website/internet
Travel/transport
Hospitality
Printing/postage/stationery
Books/DVDs
Event tickets
Depreciation
Support costs - page 14
Governance costs - page 14|**2021**
**£**
6,528
70,000
76,965
272
15,212
4,428
7,466
5,729
606
-
4,625
410
-
27,848
220,089
168,153
3,250
391,492|**2020**
**£**
10,079
67,801
95,957
9,529
5,535
6,593
12,611
4,934
10,849
4,532
5,663
2,211
231
38,880|
|---|---|---|
|||275,405
210,508
3,898|
|||489,811|
13
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Year ended 31 March 2021**
|**Support and governance costs**
**Support costs**
**Office overheads**
Rent
Light/heat
Telephone/fax
Insurance
Website/internet
Equipment/maintenance
Cleaning
**Administration costs**
Salaries
Social security costs
Staff pension costs
Staff training
Travel/transport
Hospitality
Printing/postage/stationery
Event tickets
Advertising
Sundries
**Professional/financial**
Consultancy fees
Legal/professional/bookkeeping
Bank charges
**Governance costs**
Accountancy/consultancy
Board of directors costs|**2021**
**£**
8,780
2,800
8,646
3,363
8,390
222
420
100,684
6,641
5,698
-
76
185
183
-
2,500
1,714
13,339
4,303
209
3,250
-|**£**
32,621
117,681
17,851
168,153
3,250
171,403|**2020**
**£**
10,745
4,778
8,305
3,131
8,653
2,544
325
97,428
4,973
6,046
1,522
3,092
2,905
2,254
1,211
3,620
3,927
39,121
5,641
287
3,250
648|**£**
38,481
126,978
45,049|
|---|---|---|---|---|
|||||210,508
3,898|
|||||214,406|
14
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Balance Sheet 31 March 2021**
|**Notes**
**Fixed assets**
Tangible assets
**8**
**Current assets**
Stocks
**9**
Debtors
**10**
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling
due within one year
**11**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity:**
General fund
Designated funds
**Unrestricted funds**
**14**
**Restricted income funds**
**15**
**Total charity funds**|**2021**
**£**
20,683
9,760
143,661
174,104
)
(37,886|**£**
124,338
136,218
260,556
35,330
80,862
116,192
144,364
260,556|**2020**
**£**
23,616
10,824
158,097
192,537
)
(50,628|**£**
152,186
141,909|
|---|---|---|---|---|
|||||294,095|
|||||39,145
69,150|
|||||108,295
185,800|
|||||294,095|
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
ꞏ The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
ꞏ The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on 4 November 2021 and signed on its behalf by
A Biswas A Biswas (Nov 5, 2021 13:40 GMT) Gill Lloyd (Nov 10, 2021 10:20 GMT) **Ansuman Biswas Gill Lloyd Trustee Trustee**
The notes on pages 16 to 24 form an integral part of these financial statements.
15
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
## **1. Accounting policies**
## **1.1. Basis of preparing the financial statements**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), and the Companies Act 2006.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## **1.2. Fund accounting**
Funds held by the charity are either:
- Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Designated funds - these are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
- Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **1.3. Incoming resources**
All incoming resources are included in the Statement of Financial Activities when:
- the charity is legally entitled to the funds
- any performance conditions attached to the income have been met or are fully within the control of the charity
- there is sufficient certainty that receipt of the income is considered probable
- the amount can be reliably measured
## **- Donations and legacies**
Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:
- when donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods
- when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use are met.
16
## **Live Art Development Agency**
**(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
## **- Charitable activities**
Charitable income - income from box office, performance fees and sundry artistic income is included in incoming resources in the period in which the relevant show takes place.
Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.
## **- Investment income**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **1.4. Expenditure**
All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:
- there is a legal or constructive obligation to make a payment
- it is probable that settlement will be required
- the amount of the obligation can be measured reliably
## **- Charitable activities**
Project/production costs - costs associated with art-making and artist support.
## **- Support costs**
The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to artistic production costs.
## **- Governance costs**
Costs associated with the constitutional and statutory requirements of the charity.
## **1.5. Tangible fixed assets and depreciation**
Individual fixed assets costing £2,000 or more are capitalised at cost.
Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
|Leasehold properties|-|Straight line over six years|
|---|---|---|
|Office equipment|-|Straight line over four years|
|Fixtures/fittings/equipment|-|Straight line over six years|
|Website|-|Straight line over six years|
## **1.6. Stock**
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised on receipt at fair value which is the amount the charity would have been willing to pay for the items on the open market.
17
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
## **1.7. Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
## **1.8. Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.9. Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.10. Pensions**
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.
## **1.11. Financial Instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.
## **1.12. Significant Accounting Estimates and Judgements**
In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually. Further information about key assumptions concerning the future, and other key sources of estimation of uncertainty, are set out in the notes.
## **2. Incoming resources**
The total artistic income for the year has been derived from the principal activity. The proportion of artistic income derived from outside the UK amounted to 2% ( 2020 - 4% ).
|**3.**|**Net income/(expenditure) for the year is**|**2021**|**2020**|
|---|---|---|---|
||**stated after charging:**|**£**|**£**|
||Depreciation of tangible fixed assets|27,848|38,880|
||Independent Examiners' fees:|||
||- examination|3,250|3,250|
18
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
## **4. Trustees' emoluments and reimbursed expenses**
The trustees received no remuneration during the year (2020 - £nil).
The aggregated amount reimbursed to trustees during the year was £nil (2020 - £nil).
|**5.**
**Staff costs and numbers**
**Staff costs**
Salaries and wages
Social security costs
Pension costs|**2021**
**£**
170,684
11,069
5,698
187,451|**2020**
**£**
165,229
11,566
6,046|
|---|---|---|
|||182,841|
No employee earned £60,000 or more during the year (2020 - nil).
The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £72,800 (2020 - £70,513).
## **Staff numbers**
The average numbers of employees (including casual and part time staff) during the year was made up as follows:
|
Production
Support|**2021**
**Number**
2
3
5|**2020**
**Number**
2
3|
|---|---|---|
|||5|
## **6. Pension costs**
The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £5,698 (2020 - £6,046).
19
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
## **7. Corporation taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
|**8.**
**Fixed assets - tangible assets**
**Long**
**Office**
**Fixtures/**
**Website**
**leasehold**
**equipment**
**fittings/**
**property**
**equipment**
**£**
**£**
**£**
**£**
**Cost**
1 April 2020 /
31 March 2021
177,796
5,176
51,837
12,000
**Depreciation**
1 April 2020
59,610
5,176
27,837
2,000
Charge for year
17,848
-
8,000
2,000
31 March 2021
77,458
5,176
35,837
4,000
**Net book values**
31 March 2021
100,338
-
16,000
8,000
31 March 2020
118,186
-
24,000
10,000
**9.**
**Stocks**
**2021**
**£**
Stocks
20,683
**10.**
**Debtors**
**2021**
**£**
Trade debtors
3,395
Prepayments and accrued income
6,365
9,760|**Total**
**£**
246,809
94,623
27,848
122,471
124,338
152,186
**2020**
**£**
23,616
**2020**
**£**
8,520
2,304
10,824|**Total**
**£**
246,809|
|---|---|---|
|||94,623
27,848|
|||122,471|
|||124,338|
|||152,186|
20
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
|**11.**
**Creditors: amounts falling due**
**within one year**
Trade creditors
Other creditors
Accruals
Deferred income (note 12)
**12.**
**Deferred income**
Balance at 1 April 2020
Amount released to incoming resources
Balance at 31 March 2021|**2021**
**£**
33,288
753
3,845
-
37,886|**2020**
**£**
38,428
950
3,250
8,000
50,628
**£**
8,000
)
(8,000
-|
|---|---|---|
Deferred income relates to partnership income received in advance for the year ending 31 March 2021.
## **13. Limited by guarantee**
The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2021 there were 10 members.
21
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
|**14.**|**Unrestricted funds**|**Brought**|**Incoming**|**Outgoing**|**Transfers**|**Carried**|
|---|---|---|---|---|---|---|
|||**forward**|**resources**|**resources**||**forward**|
|||**£**|**£**|**£**|**£**|**£**|
||General fund|39,145|284,835|)
(301,717|13,067|35,330|
||Designated funds:||||||
||Publishing|8,400|7,495|)
(8,929|-|6,966|
||Organisational change|-|-|-|5,000|5,000|
||LAUK|750|1,396|)
(750|-|1,396|
||Rent and staffing|60,000|-|-|7,500|67,500|
|||108,295|293,726|)
(311,396|25,567|116,192|
## **Publishing**
Designated funds towards a number of planned publishing projects.
## **Organisational change**
Designated funds towards recruitment, staff support, and development programme related to change of leadership and revisioning.
## **LAUK**
Designated funds related to small enhancement grants for member organisations, to be agreed in 21-22.
## **Rent and staffing**
A strategic reserve, equivalent to six month's rent and an allocation for staff costs; see Trustees' Report for more detail.
22
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
|**15.**|**Restricted funds**|**Brought**|**Incoming**|**Outgoing**|**Transfers**|**Carried**|
|---|---|---|---|---|---|---|
|||**forward**|**resources**|**resources**||**forward**|
|||**£**|**£**|**£**|**£**|**£**|
||Fixed assets|120,858|-|-|)
(21,415|99,443|
||British Council|1,100|-|)
(1,050|)
(50|-|
||LAUK|16,062|13,320|)
(14,477|-|14,905|
||Unbound|1,265|-|)
(1,265|-|-|
||Study Room|10,000|-|-|-|10,000|
||Miscellaneous projects|36,515|50,907|)
(63,304|)
(4,102|20,016|
|||185,800|64,227|)
(80,096|)
(25,567|144,364|
## **Fixed assets**
This fund consists of grants/donations received specifically for the purchase of fixed assets. The funds are transferred to the general fund over the expected useful life of the assets.
The balance at 31 March 2021 is attributable to:
|**Fixed assets**
This fund consists of grants/donations received specifically for the purchase of fixed assets.
are transferred to the general fund over the expected useful life of the assets.
|The funds|
|---|---|
|The balance at 31 March 2021 is attributable to:
Leasehold land and buildings
Fixtures/fittings/equipment|**£**
85,843
13,600|
||99,443|
## **British Council**
This fund relates to an initiative to develop the annual DIY artists' development programme in North America, completed in 20-21.
## **LAUK**
This fund related to a two-phase grant from Arts Council England to coordinate ongoing Live Art Sector Research, which ran throughout 20-21 and will conclude in 21-22.
## **Unbound**
This fund relates to monies received for artists' royalties received in 19-20 and dispersed in 20-21.
## **Study Room**
This fund relates to developing access to the Study Room's video collection.
## **Miscellaneous projects**
This fund relates to a number of small-scale projects, expected to conclude in 21-22.
23
## **Live Art Development Agency**
## **(Limited by Guarantee)**
## **Notes to the Financial Statements for the year ended 31 March 2021**
## **16. Analysis of net assets between funds**
|**Analysis of net assets between funds**||
|---|---|
|**General**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Fund balances at 31 March 2021
are represented by:
Tangible fixed assets
24,895
-
99,443
Net current assets
10,435
80,862
44,921
35,330
80,862
144,364|**Total**
**£**
124,338
136,218|
||260,556|
## **17. Related party transactions**
During the year there were no related party transactions.
24