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2021-03-31-accounts

South Asian Arts - UK

Charity No. 1080292

Company No. 03391845

Trustees' Report and Unaudited Accounts

31 March 2021

South Asian Arts - UK Contents

Pages Trustees' Annual Report 2-6 Independent Examiner's Report 7 Statement of Financial Activities 8 Summary Income and Expenditure Account[ 9 ] Balance Sheet[ 10 ] Notes to the Accounts 11-17 Detailed Statement of Financial Activities[ 18-19 ]

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 03391845

Charity No. 1080292

Principal Office

Mill 1, Ground Floor North Mabgate Mills West Yorkshire Leeds LS9 7DZ

Registered Office

Mill 1, Ground Floor North Mabgate Mills Leeds LS9 7DZ

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

Dr Jatinder Singh Mehmi – Chair Dr Paul J Abbott – Vice Chair Paul French - Treasurer Jo Nockels Dr Sahil Khan Warsi Wesley Zepherin (Resigned) Elizabeth Rose Rosena Stevens

Accountants

HCA Group Capital House 7 Sheepscar Court Northside Business Park Leeds LS7 2BB

Bankers

Lloyds TSB Leeds City Branch Park Row Leeds West Yorkshire

2

South Asian Arts - UK Trustees Annual Report

OBJECTIVES AND ACTIVITIES

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2020.

Trustees

Dr Jatinder Singh Mehmi – Chair Dr Paul J Abbott – Vice Chair

Paul French - Treasurer

Dr Sahil Khan Warsi

Wesley Zepherin (Resigned) Elizabeth Rose Rosena Stevens

Structure, governance and management

Nature of governing document

The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity and membership of the board of trustees is governed by the Memorandum and Articles of Association. There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.

Recruitment and appointment of trustees

When new or additional trustees are required then beneficiaries and client organisations are invited to submit nominations and, subject to their compliance with the Memorandum and Articles of Association, they are considered by the governing body of trustees for election.

Induction and training of trustees

SAA-uk Board of Trustees new members are provided with an induction pack including previous board papers, policies and practice for board members. SAA-uk provides continued training in board development as identified and agreed by senior management and trustees.

Organisational structure

SAA-uk is governed by a board of trustees, who are reported to by senior management on a quarterly basis. The organisational structure is composed of Chief Executive & Artistic Director, Operations Manager, Marketing & Fundraising Manager, Education Officer, Marketing & Programming Assistant, Social Media AssistantArts Administration Assistants/Board Secretary and Freelance Artists/Volunteers.

Relationships with related parties

The charity is under the control of the trustees. The trustees consider that there is no controlling party of the charity.

3

South Asian Arts - UK

Trustees Annual Report SAA-UK’s primary risks include:

Removal/Reduction major funding Failure to raise at least 70% of its generated income and contributed income target Failure to retain/attract quality staff Failure to retain/recruit freelance artists Failure to retain/increase audience and participants

Strategies SAA-uk employed to mitigate these risks include:

Maintain strong personal relationships with Funders

Increased capacity and expertise in fundraising contributed income (Trusts & Foundations as well as individual giving)

Fulfilling funding criteria and delivering an artistically excellent programme

Ensure team members are compensated for exceptional performance Provide a competitive remuneration package including pension, incentives etc

Train the next generation of music and dance tutors to coach the individual to their potential and replace relocating/retiring freelance artists

Relocate freelance artists to West Yorkshire to ensure continued delivery of the SAA-uk academies Ensure SAA-uk Academies deliver high-quality teaching and an engaging syllabus Set affordable fees for Music and Dance Academies to tutor fees are covered Ensure relationship with participants are a priority for Education team Deliver a far-reaching communications and engagement strategy

Objectives and activities

Objects and aims

SAA-uk is a charity and a company limited by guarantee, established in Leeds in 1997 to raise the profile and awareness of the rich arts and cultural practice of the diverse South Asian communities that have made the United Kingdom their home, and to build the confidence and pride of this community to explore and share its rich tradition of classical music and dance and encourage the wider population to take part and access high quality South Asian Arts, in the heart of Leeds, the region, nationally and internationally. Ultimately our aim is enriching people's lives through engagement and participation in traditional and contemporary South Asian music and dance. SAA-uk believes South Asian Arts are integral to the UK's cultural diversity and deserve to be championed.

SAA-uk aims to achieve this through our mission which is: 'to preserve the traditional and facilitate the contemporary’

Objectives, strategies and activities

Public benefit

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Use of volunteers

SAA-uk has a small but dedicated group of volunteers who assist us in the delivery of the SAA-uk academies, Seasonal event series, and projects and act as ambassadors for the charity.

Key financial KPI’s

4

South Asian Arts - UK Trustees Annual Report Key non-financial performance indicators

2020-21 Key Achievements and review

At the beginning of this financial year, the whole of the UK was in lockdown due to the COVID-19 pandemic. One key achievement is the agility and drive of SAA-uk’s small and dynamic team, who moved quickly and harnessed all the digital technologies available to successfully transition to online delivery as soon as the 1[st] lockdown was announced. Both business administration and artistic programmes were in full swing by the 1[st ] of April 2020. The whole team (both employed and freelance staff) were equipped to work remotely using Microsoft Teams and ZOOM, ensuring that we could continue to focus on the organisation’s mission: ‘ To preserve the traditional and facilitate the contemporary ’ and in doing so provide certainty at a time of uncertainty.

This financial year brought many challenges that had an impact on our delivery, and we had to overcome. One of the main challenges we had to overcome in this difficult year were venue cancellations due to unexpected changes in regulations. Strongly feeling our commitment to offer arts engagement and participation throughout the pandemic, we decided to schedule public events in August and December 2020, which with the lockdown announcements resulted in postponements followed up by cancellations. We overcame this by offering the artists a slot in our online performance series in 2020-21 or our face-toface programme in 2021, and by providing audiences with a wealth of opportunities to connect with our work online through social media, live streams, and our website.

SAA-uk maintained its policy of delivering high-quality artistic output coupled with financial prudency and aims to deliver another programme of high-quality arts in the 2021-22 financial year, despite the challenges posed by the COVID-19 pandemic and financial limitations caused by it.

2020-21 we delivered a successful artistic programme:

South Asian Arts - UK

Trustees Annual Report

through the pandemic.

Our Music and Dance Academies (5 music disciplines, 3 vocals and 2 dance styles) successfully transitioned online, sustaining 122 students attending regularly for 30 weeks of the academic year. The academies did experience a reduction in attendance compared to 2019-20 – at the end of the FY we had just over 200 registered students across on our academies. This must be attributed to the impact of the pandemic: decrease in people’s disposable income, and some participant preferring face-to-face learning. We continue to provide young, talented students of our Academies with opportunities to perform as part of special projects. During the COVID-19 pandemic opportunities for live performances in professional settings were limited. Plans continue to be developed, in line with government guidelines, to ensure our arts and culture offer in live settings can resume in 2021-22 at high quality with everyone, health and wellbeing carefully considered.

In 2020-21 SAA-uk took the time to hone its own unique selling points: this included a focus on our role as talent development hub, out of which the Music Mentors Scheme and ‘ SPOTLIGHT ’ were born. Through LMEP Innovative Project grant, as well as regular gifts and large individual donations, we were able to set up and launch a pilot Music Mentors Scheme in Autumn 2020. This programme, combining the structure of Silver Arts Awards with the North Indian classical music tradition, engages young talents in the co-creation of new work and encourages them to become inspiring mentors and teachers of the future. ‘ SPOTLIGHT: shining and light on the underrepresented’ was successful in securing funds from PRS Foundation, PPL and Youth Music, and become one their 55 national Talent Development Partners for 2021-22.

‘ Musical Seasons ’ is another opportunity for us to work in partnership, joining NYMAZ, Orchestra’s LIVE, and Orchestra of the Age of Enlightenment in creating original music and digital resources Early Years (0-5) project. This will provide experience and insight into early years works, which will inform our vision of being a renowned talent development hub in the North. The outcome - a series of short music and dance video - will be showcased in nursery schools/early years settings in the North of the UK from September 2021.

Financial review

Review of financial position

The constraints imposed as a response to the Covid 19 pandemic have made considerable impacts on the financial structure of the organisation for this financial year. In-person instruction in our academies and live concert performances have had to be changed to on-line instruction and performance with a consequent transformation of the cost and income structures. However, the organisation has managed to continue its high-quality instruction and performance provision and not all the changes have been adverse, for example there have been considerable savings in venue costs.

SAA-uk had budgeted a small surplus for the year 2020-21, but was able to make a surplus of £20,694, bringing the total reserves to £57,566.

Arts Council England and Leeds City Council continue to provide funding for the organisation, and we are most grateful for their continuing support.

Our efforts to reduce our reliance on grant funding and develop new, reliable sources of funds has suffered from the lack of opportunities available in this Covid-hit year and contributed income in the year fell to £8,260 from £25,063 (2019/20).

6

South Asian Arts - UK Trustees Annual Report

SAA-uk continues to plan to obtain increasing levels of contributed income from grants from trusts and foundations and from the development of new individual giving schemes such as the Alumni & Members Scheme as and when the opportunities become available.

Signed on behalf of the board

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Paul French Trustee 20 July 2021

7

South Asian Arts - UK Independent Examiners Report

Independent Examiner's Report to the trustees of South Asian Arts - UK

I report to the charity trustees on my examination of the accounts of South Asian Arts - UK for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales.

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Raza Effendi

MBA FCA HCA Group Capital House 7 Sheepscar Court

Northside Business Park

Leeds LS7 2BB 20 July 2021

7

South Asian Arts - UK Statement of Financial Activities

for the year ended 31 March 2021

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Other
8
Total
Expenditure on:
Raising funds
9
Other
10
Total
Net gains on investments
Net income
11
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
218,498
36,672
7,772
26
23,533		 Total funds
2021
£
218,498
36,672
7,772
26
23,533		 Total funds
2020
£
253,257
61,668
3,324
532
-
286,501
60,403
205,404		 286,501
60,403
205,404		 318,781
131,248
186,854
265,807
-		 265,807
-		 318,102
-
20,694
-		 20,694
-		 679
-
20,694 20,694 679
20,694
36,872		 20,694
36,872		 679
36,193
57,566 57,566 36,872

8

South Asian Arts - UK Summary Income and Expenditure Account

for the year ended 31 March 2021

Income
Interest and investment income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2021
£
286,475
26
286,501
259,243
6,564
265,807
20,694
20,694		 2020
£
318,249
532
318,781
312,072
6,030
318,102
679
679

9

South Asian Arts - UK

Balance Sheet

at 31 March 2021

Company No. 03391845 Notes 2021 2020
£ £
Fixed assets
Tangible assets 13 11,421 17,216
11,421 17,216
Current assets
Debtors 14 5,748 2,834
Cash at bank and in hand 42,398 27,906
48,146 30,740
Creditors:Amount falling due within one year 15 (2,001) (11,084)
Net current assets 46,145 19,656
Total assets less current liabilities 57,566 36,872
Net assets excluding pension asset or liability 57,566 36,872
Total net assets 57,566 36,872
The funds of the charity
Unrestricted funds 16
General funds 57,566 36,872
57,566 36,872
Reserves 16
Total funds 57,566 36,872

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 18 June 2021

And signed on its behalf by:

Paul French

Trustee 20 July 2021

10

South Asian Arts - UK Notes to the Accounts

for the year ended 31 March 2021

1 Accounting policies

Basis of preparation

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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.

Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

11

South Asian Arts - UK Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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.

12

South Asian Arts - UK Notes to the Accounts

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

13

South Asian Arts - UK

Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total
Expenditure on:
Raising funds
Other
Total
Net income
Net income before other gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Donations and other income
Grants
5Income from charitable activities
Income from charitable activities		 Unrestricted
£
8,259
210,239
218,498
Unrestricted
£
36,672
36,672		 Unrestricted
funds
2020
£
253,257
61,668
3,324
532
318,781
131,248
186,854
318,102
679
679
679
36,193
36,872
Total
2021
£
8,259
210,239
218,498
Total
2021
£
36,672
36,672		 Total funds
2020
£
253,257
61,668
3,324
532
318,781
131,248
186,854
318,102
679
679
679
36,193
36,872
Total
2020
£
25,063
228,194
253,257
Total
2020
£
61,668
61,668

14

South Asian Arts - UK Notes to the Accounts

6 Income from other trading activities

7Income from investments
Interest receivable
8Other income
Covid grants and other income
9
Expenditure on raising funds
Costs of generating voluntary income
Project delivery costs
Publicity costs
Other fund raising costs
10Other expenditure
Employee costs
Premises costs
Amortisation, depreciation, impairment,
profit/loss on disposal of fixed assets
General administrative costs
Legal and professional costs		 Unrestricted
£
7,772
7,772
Unrestricted
£
26
26
Unrestricted
£
23,533
23,533
Unrestricted
£
49,931
6,265
4,207
60,403
Unrestricted
£
159,014
16,441
6,564
18,883
4,502
205,404		 Total
2021
£
7,772
7,772
Total
2021
£
26
26
Total
2021
£
23,533
23,533
Total
2021
£
49,931
6,265
4,207
60,403
Total
2021
£
159,014
16,441
6,564
18,883
4,502
205,404		 Total
2020
£
3,324
3,324
Total
2020
£
532
532
Total
2020
£
-
-
Total
2020
£
104,229
12,191
14,828
131,248
Total
2020
£
141,429
19,064
6,030
17,117
3,214
186,854

15

South Asian Arts - UK Notes to the Accounts

11Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
12Staff costs
Salaries and wages
Pension costs
No employee received emoluments in excess of £60,000.
13Tangible fixed assets
Cost or revaluation
At 1 April 2020
Additions
At 31 March 2021
Depreciation and impairment
At 1 April 2020
Depreciation charge for the year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020
14Debtors
Other debtors
Prepayments and accrued income
15Creditors:
amounts falling due within one year
Other taxes and social security
Other creditors
Accruals and deferred income		 2021
£
6,564
149,712
9,302
159,014
2021
£
5,000
748
5,748
2021
£
-
-
2,001
2,001		 Fixture and
fittings
£
72,031
769
72,800
54,815
6,564
61,379
11,421
17,216		 2020
£
6,030
135,910
5,519
141,429
Total
£
72,031
769
72,800
54,815
6,564
61,379
11,421
17,216
2020
£
-
2,834
2,834
2020
£
6,487
1,572
3,025
11,084

16

South Asian Arts - UK Notes to the Accounts

16 Movement in funds

Unrestricted funds:
General funds
Total funds
17 Analysis of net assets between funds
Fixed assets
Net current assets
18Reconciliation of net cash
Cash and cash equivalents
Net cash
19Commitments
Pension commitments
The pension cost charge to the company
amounted to:		 At 1
April
2020
36,872		 Incoming
resources
(including
other
gains/losses)
£
286,501
286,501
At 1 April
2020
£
27,906
27,906
27,906
2021
£
9,302		 Resources
expended
£
(265,807)
(265,807)
Unrestricted
funds
£
11,421
46,145
57,566
Cash flows
£
14,492
14,492
14,492		 At 31
March
2021
£
57,566
57,566
Total
£
11,421
46,145
57,566
At 31
March
2021
£
42,398
42,398
42,398
2020
£
5,519
36,872

17

South Asian Arts - UK Notes to the Accounts

for the year ended 31 March 2021

Income and endowments from:
Donations and legacies
Donations and other income
Grants
Charitable activities
Income from charitable activities
Other trading activities
Investments
Interest receivable
Other
Covid grants and other income
Total income and endowments
Expenditure on:
Costs of generating donations and legacies
Project delivery costs
Publicity costs
Other fund raising costs
Total of expenditure on raising funds
Employee costs
Salaries/wages
Pension costs
Premises costs
Rent		 Unrestricted
funds
2021
£
8,259
210,239
218,498
36,672
36,672
7,772
7,772
26
26
23,533
23,533
286,501
49,931
6,265
4,207
60,403
60,403
149,712
9,302
159,014
16,441
16,441		 Total funds
2021
£
8,259
210,239
218,498
36,672
36,672
7,772
7,772
26
26
23,533
23,533
286,501
49,931
6,265
4,207
60,403
60,403
149,712
9,302
159,014
16,441
16,441		 Total funds
2020
£
25,063
228,194
253,257
61,668
61,668
3,324
3,324
532
532
-
-
318,781
104,229
12,191
14,828
131,248
131,248
135,910
5,519
141,429
19,064
19,064

19

South Asian Arts - UK

Notes to the Accounts

General administrative costs, including
depreciation and amortisation
Depreciation of Fixture and fittings
Bad debts
Bank charges
Equipment expensed
Software, IT support and related costs
Stationery and printing
Subscriptions
Sundry expenses
Legal and professional costs
Audit/Independent examination fees
Other legal and professional costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 6,564
6,252
690
1,601
9,464
264
502
110
25,447
2,000
2,502
4,502		 6,564
6,252
690
1,601
9,464
264
502
110
25,447
2,000
2,502
4,502
205,404
265,807
-
20,694
36,872
57,566
20,694
20,694
-		 6,030
4,499
828
554
8,367
1,465
1,404
-
23,147
2,000
1,214
3,214
205,404
265,807
-
20,694
36,872
57,566
20,694
20,694
-
186,854
318,102
-
679
679
-
679
36,193
36,872

19