# **Annual Report of Kingsgate Workshops Trust Annual Report and Accounts 2021**
www.kingsgateworkshops.org.uk Charity number 1082112
**KINGSGATE WORKSHOP TRUST**
**Trustees’ annual report**
## **For the year ended 31 December 2021**
## **Chair’s foreword**
The impact of the pandemic continues to be felt beyond the immediate periods of nationwide ‘lockdowns and this year was a time of cautious return to pre-2020 activities, informed and affected by the experience of those restrictions. Under the continued leadership of Dan Howard-Birt, Kingsgate began once again to carefully facilitate a collegiate, friendly and supportive environment for artists and craft makers within the building as well as new creative opportunities for the wider community to create and engage with ambitious and innovative exhibitions and events. Welcoming visitors back to Kingsgate to engage with workshops, open studios and exhibitions brought great reward. Our public programme provided opportunities for 117 artists to extend their professional networks through residencies, new commissions and exhibitions. Coming out of a period of restricted activity this is a tremendous success.
Kingsgate’s location and its growing profile and reputation mean that it is an increasingly popular place for artists and makers. Studio occupancy remained high and demand for safe a secure workshop spaces is unaffected by the impact of the pandemic. Improving the outside space through the construction of an accessible, decked area has created a safe meeting place for studio users and visitors alike.
I am particularly grateful to our small but dedicated staff team who manage such an exciting and diverse programme with very limited resources, as well as to my fellow trustees who continue to voluntarily support Kingsgate’s work with their time and expertise.
Spirit de la Mare Chair Date: 19/10/2022
1
**KINGSGATE WORKSHOP TRUST**
**Trustees’ annual report**
## **For the year ended 31 December 2021**
## **About Kingsgate Workshops**
Kingsgate Workshops Trust is a registered charity which promotes the arts and art activities through the provision of studio spaces and a public programme.
Kingsgate Workshops is a unique affordable studio provider that houses dedicated provision for artists and designer-makers. The Trust owns and operates a large Victorian warehouse building which contains 51 studio spaces which are let to a wide range of artists and craftspeople.
Kingsgate also has a developing public programme, including supporting emerging artists, offering them the space and opportunities to make and show new work, through our ‘Artists in Residence’ programme.
## **About the Trust**
The Trust Board is made up of individuals who volunteer to give their time to support the development of Kingsgate Workshops. They come from a variety of backgrounds bringing a range of knowledge and expertise to the work of the Trust. In 2021 the Trustees were:
Spirit De La Mare (chair) Tamsin Clark Graham Martin Holly Graham (from March 2021) Alison Taylor
The Director of Kingsgate Workshops is Dan Howard-Birt. Dan works with a small staff team to manage the Workshops, develop the artistic programme and administer the Trust.
## **Highlights of the year**
## _Developing the artistic vision_
As ‘lockdowns’ and other restrictions on public activities gradually relaxed, Kingsgate was able to re-start its public-facing programme of exhibitions and events from the Project Space. This series of activities was able to deliver projects planned (and postponed) in 2020 as well as new projects relating to the changing social context of the pandemic and its influence on art making and exhibition visiting. One exhibition project delayed from 2020 will be realised in 2022.
In 2021:
- Kingsgate invited Letchworth-based curator Kristian Day to share his networks by organising an exhibition. _**Come to Naught**_ featured recent graduates based in Falmouth, Hull, Glasgow, Letchworth and London.
- 2020’s postponed solo exhibitions by **Nina Royle** and **Matthew de Kersaint Girdaudeau** (Kingsgate artist-in-residence 2019-20) were mounted.
- Kingsgate artist-in-residence 2015, **Victoria Adam** was invited back to curate an exhibition expanding on the research which informs her own practice. The exhibition _**Indefinite Bower***_ was co-curated by perfume historian **Pascale Cumming-Benson** and included artists based in Glasgow, Berlin, London and Barnstaple.
2
**KINGSGATE WORKSHOP TRUST**
**Trustees’ annual report**
## **For the year ended 31 December 2021**
- Questioning the impact of the restrictions on public gatherings through 2020’s ‘lockdowns’ and the growing reliance on digital technologies, including social media, to engage with painting, **80 painters** from across the UK were invited to take part in a busy, celebratory, realspace group exhibition.
- New billboard artworks were commissioned by recent graduates **Lydia Hamblet** , **Ella Belenky** and **Jasmine Pajdak** as well as New York-based **Ye Qin Zhu** , Athens-based **Sofia Stevi** and St Leonards-on-Sea-based duo **Maslen & Mehra** .
- Kingsgate Project Space continued to host the micro-project space **millimetre02** (group exhibitions in a single picture frame). **millimetre** exhibited small works by **15 artists** in 2021
## _Studio Holder events_
2 Kingsgate studio holders took part in Crafts Council’s (online) _**Hey Craft!**_ programme of workshops in May.
14 studio holders opened their studios to the public for our annual summer _**Open Studios**_ event in July.
25 studio holders opened their studios to the public for a second _**Open Studios**_ event, in association with _**London Craft Week 2021**_ in October. 13 workshops led by Kingsgate’s artists and makers took place in the Project Space.
## _Improving workshop spaces_
Responding to the need for safe outdoor social space, in May a new decked area in the Yard was created by previous artist-in-residence Harry Lawson. This space is accessible for wheelchairs and transforms the unloved yard into a comfortable place for studio users to meet and to take lunch, and for visitors to the Project Space to step out of the gallery in the event of overcrowding.
A major upgrade to the communal Wi-Fi was completed, including moving from ‘copper cable’ supply to ‘fibre optic’ directly into the building. One impact of Covid-related ‘lockdowns’ was an increased reliance on _Zoom_ , _Teams_ and other video conferencing platforms as well as digital exhibitions, shops, events and networking socials. This upgrade increased bandwidth and erased all Wi-Fi ‘blackspots’ within the building.
The threat of future ‘lockdowns’ and possible further underuse of Kingsgate’s building led to a decision to bring forward and upgrade the Fire Alarm system. This work was completed in October.
Security is a key concern at Kingsgate, to avoid the main doors being left open and unattended a new door entry system was installed.
## _Studio occupancy_
Ill health led to 2 studios being vacated. The license on a painting studio was taken by (previous ‘sharer’ in another studio) Lee Matthews. The license on a ceramics studio was taken by (that studio’s existing ‘sharer’) Dana Lazarus-Cass.
3
**KINGSGATE WORKSHOP TRUST**
**Trustees’ annual report**
## **For the year ended 31 December 2021**
## _Financial overview_
No increase in Licence Fee was enacted in 2021. All licensees who were given permission to deplete their studio deposits in order to support license fee payments through the Covidaffected period have subsequently repaid those deposits. Income was at £302,336 in 2021 (£328,187 in 2020).
The Trust continued to make good progress in repaying its outstanding mortgage on the Workshop premises at 110-116 Kingsgate Road.
Full details can be found in the audited financial statements appended to this report.
## _Staffing_
In July 2021, Administrator & Studio Programme Manager Helen Scibilia left the organisation and Lydia Brockless was recruited into that role.4
In September 2021, Programme & Gallery Assistant, Mary Macken Allen reduced her contracted hours from 0.6FTE to 0.4FTE to allow her to undertake a 1-year post graduate painting course.
In November 2021, and following 12-month maternity leave, Public Programme Curator Ellie Davies left Kingsgate. This vacancy was not filled at this time.
Jeno Davies became a freelance technician to manage exhibition installations and day-to-day repairs throughout the studios building.
There were no further changes to staffing.
## _Remuneration Policy_
The pay of the senior staff is reviewed annually. The charitable trust pays staff a fair salary that is competitive with the charity sector, proportionate to the complexity of each role, and in line with our charitable objectives. All staff pay is reviewed and decided upon by the board of trustees on an annual basis.
Signed on behalf of the Board of Trustees by:
Spirit de la Mare
Chair
> Date: 19/10/2022
4
**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF**
## **KINGSGATE WORKSHOP TRUST**
## **For the year ended 31 December 2021**
I report to the trustees on my examination of the accounts of the Kingsgate Workshop Trust for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
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.
Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
> Date: 25/10/2022
5
## **Kingsgate Workshop Trust**
**Statement of financial activities** (incorporating an income and expenditure account) **For the year ended 31 December 2021**
|**Unrestricted**
**Funds**
Note
**£**
**Income from:**
3
**513**
4
**298,769**
5
**182**
**299,464**
6
**259,627**
**259,627**
7
**39,837**
**-**
**39,837**
**Reconciliation of funds:**
**224,754**
**264,591**
Donations and legacies
Charitable activities
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**
**Net income for the year**
Transfers between funds
**Total expenditure**
**Total income**
**Expenditure on:**
Charitable activities
Investment income|**Restricted**
**Funds**
**£**
**-**
**2,872**
**-**
**2,872**
**2,872**
**2,872**
**-**
**-**
**-**
**128,428**
**128,428**|**2021**
**Total**
**Funds**
**£**
**513**
**301,641**
**182**
**302,336**
**262,499**
**262,499**
**39,837**
**-**
**39,837**
**353,182**
**393,019**|2020
Total
Funds
£
10
328,123
54|
|---|---|---|---|
||||328,187|
||||249,775|
||||249,775|
||||78,412
-|
||||78,412
274,770|
||||353,182|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 16 to the financial statements.
The attached notes form part of the financial statements.
6
## **Kingsgate Workshop Trust Balance sheet As at 31 December 2021**
|**Note**
**Fixed assets:**
**11**
**Current assets:**
**12**
**Liabilities:**
**13**
**Liabilities:**
**14**
**16**
Total unrestricted funds
**Total funds**
Unrestricted funds:
General funds
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Funds**
Restricted funds
Creditors: amounts falling due after one year
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Tangible assets|**2021**
**£**
**8,763**
**128,260**|**2021**
2020
**£**
£
**480,988**
10,272
112,798
123,070
95,591
**33,555**
**514,543**
**121,524**
**393,019**
**128,428**
224,754
**264,591**
**393,019**|2020
£
490,614
27,479|
|---|---|---|---|
||**137,023**
**103,468**|||
||**264,591**|||
||||518,093
164,911|
||||353,182|
||||128,428
224,754|
|||||
||||353,182|
Approved by the trustees on 19/10/2022. and signed on their behalf by:
## **Spirit de la Mare Chair**
The attached notes form part of the financial statements.
7
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **1 Accounting policies**
## **a) 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 statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Charities SORP FRS 102 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005) which has since been withdrawn.
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 or note.
## **b) Going concern**
The trustees consider that there are no material uncertainties despite the impact of COVID-19 about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **c) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether grants or grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.
## **d) Donations of gifts, services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e) Interest receivable**
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.
## **f) Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds 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 are donations which the donor has specified are to be solely used for
8
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **1 Accounting policies (continued)**
## **g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Costs of raising funds comprise of trading costs and the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h) Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.
## **i) Tangible fixed assets**
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
˜ Leasehold building 2 % per annum
Fixtures, Fittings and Equipment 20 % per annum
## **j) 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.
## **k) Cash at bank and in hand**
Cash at bank and cash 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.
## **l) 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.
9
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **2 Detailed comparatives for the statement of financial activities**
|Donations and legacies
Charitable activities:
Other income
Charitable activities:
Donations
Art Council
Culture at Risk CLT grant
Licence fee income
Licence recharges
Hire of education building
Shop sales
**Net income**
**Total expenditure**
**Income from:**
**Total income**
**Expenditure on:**
**Net income before gains / (losses) on investments**
Net gains / (losses) on investments
Transfers between funds
**Income from charitable activities**
**Net income before other recognised gains and losses**
**Income from donations and legacies**
Total funds carried forward
**Net movement in funds**
**Total funds brought forward**
Total income from charitable activities
**Income earned from charitable activities**
**_Grants_**|**Unrestricted**
**funds**
**£**
**513**|£
10
302,279
54
302,343
223,931
Unrestricted
funds|Restricted
funds
£
-
25,844
-|2020
Total
funds
£
10
328,123
54|
|---|---|---|---|---|
||||25,844|328,187|
||||25,844|249,775|
|||223,931|25,844|249,775|
|||78,412
-
78,412
-
78,412
78,412
146,342
224,754
**£**
**-**
**Restricted**
**funds**|-
-|78,412
-|
||||-
-|78,412
-|
||||-
-
128,428|78,412
78,412
274,770|
||||128,428|353,182|
||||**2021**
**Total**
**funds**
**£**
**513**|2020
Total
funds
£
10|
||**513**|**-**|**513**|10|
||**Unrestricted**
**funds**
**£**
**-**
**-**
**272,596**
**21,939**
**1,695**
**2,538**|**£**
**2,872**
**-**
**-**
**-**
**-**
**-**
**Restricted**
**funds**|**2021**
**Total**
**funds**
**£**
**2,872**
**-**
**272,596**
**21,939**
**1,695**
**2,538**|2020
Total
funds
£
25,844
13,520
269,165
17,349
69
2,176|
||**298,769**|**2,872**|**301,641**|328,123|
- **3 Income from donations and legacies**
**4 Income from charitable activities**
- **5 Income from Investments**
|Bank interest|**Unrestricted**
**funds**
**£**
**182**
**182**|**£**
**-**
**-**
**Restricted**
**funds**|**2021**
**Total**
**funds**
**£**
**182**|2020
Total
funds
£
54|
|---|---|---|---|---|
||||**182**|54|
10
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **6(a) Analysis of expenditure- Current year**
|**Analysis of expenditure- Current year**||||
|---|---|---|---|
|Staff costs
**_Direct cost_**
Grants awarded
Education project
Gallery and studio cost
Residency running cost
Events Prog Management
Research & development
**_Support costs_**
Rent and rates
Insurance
Light and heat
Repair and maintenance
Travelling and subsistence
Cleaning and waste
Printing, postage and stationary
Advertising
Telephone/IT supports
Trsutee meeting expenses
Depreciation
Accountancy fees
Independent examiner fees
Sundry
Loan interest for the year
Bank charges and interests
**Total expenditure 2021**
Total expenditure 2020|**Charitable**
**activities**
**£**
**88,074**
**-**
**3,881**
**1,044**
**28,135**
**675**
**2,017**
**11,032**
**14,701**
**25,103**
**24,703**
**496**
**6,833**
**467**
**1,300**
**12,795**
**64**
**16,169**
**7,125**
**3,960**
**1,182**
**11,320**
**1,423**
**262,499**
249,775|**2021 Total**
**£**
**88,074**
**-**
**3,881**
**1,044**
**28,135**
**675**
**2,017**
**11,032**
**14,701**
**25,103**
**24,703**
**496**
**6,833**
**467**
**1,300**
**12,795**
**64**
**16,169**
**7,125**
**3,960**
**1,182**
**11,320**
**1,423**|2020 Total
£
99,801
13,020
1,121
197
15,287
1,750
1,537
10,499
13,721
21,607
15,201
281
4,404
1,167
536
10,537
50
15,074
5,266
3,700
65
13,679
1,275|
|||**262,499**|249,775|
|||249,775||
Of the total expenditure, £259,627 were unrestricted (2020: £223,931) and £2,872 were restricted (2020: £25,844).
11
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
|**6(b)**
Staff costs
**_Direct cost_**
Grants awarded
Education project
Gallery and studio cost
Residency running cost
Events Prog Management
Research & development
**_Support costs_**
Rent and rates
Insurance
Light and heat
Repair and maintenance
Travelling and subsistence
Cleaning and waste
Printing, postage and stationary
Advertising
Telephone/IT supports
Trsutee meeting expenses
Depreciation
Audit & accountancy fees
Sundry
Loan interest for the year
Loan interest for the year
Bank charges and interests
Total expenditure 2020
Analysis of expenditure- Prior year|Charitable
activities
£
99,801
13,020
1,121
197
15,287
1,750
1,537
10,499
13,721
21,607
15,201
281
4,404
1,167
536
10,537
50
15,074
8,966
65
13,679
1,275
249,775|2020 Total
£
99,801
13,020
1,121
197
15,287
1,750
1,537
10,499
13,721
21,607
15,201
281
4,404
1,167
536
10,537
50
15,074
8,966
65
13,679
-
1,275|2019 Total
£
101,542
-
8,322
2,549
25,644
10,529
5,693
11,433
13,220
26,654
15,561
2,076
8,209
3,348
1,565
5,352
390
15,167
8,817
277
15,849
-
1,345|
|---|---|---|---|
|||249,775|283,542|
12
**Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **7 Net income for the year**
This is stated after charging / crediting:
Independent Examiner's Fees net of VAT Depreciation
|**2021**
**£**
**3,300**
**16,169**|2020
£
**3,083**
**15,074**|
|---|---|
## **8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
Staff costs were as follows:
|Staff costs were as follows:|||
|---|---|---|
|Social security costs
Salaries and wages
Other staff costs
Freelance staff
Pension contributions|**2021**
**£**
**75,300**
**717**
**1,262**
**9,018**
**1,777**
**88,074**|2020
£
91,934
1,865
1,510
733
3,759|
|||99,801|
The total employee benefits including pension contributions of the key management personnel were £25,068 (2020: £21,275).
No employees earned more than £60,000 per annum.
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).
No trustees received any payment or reimbursement of travel and subsistence costs.
## **9 Staff numbers**
The average number of employees (head count based on number of staff employed) during the year was as follows:
|Charitable activity|**2021**
**No.**
**7**
**7**|2020
No.
7|
|---|---|---|
|||7|
## **10 Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
13
**Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
|**11**
**Tangible fixed assets**
**Cost**
At the start of the year
Additions in year
Disposals in year
At the end of the year
**Depreciation**
At the start of the year
Charge for the year
Eliminated on disposal
At the end of the year
**Net book value**
**At the end of the year**
At the start of the year
**12**
**13**
Bank loan
**14**
**Creditors: amounts falling due after one year**
Bank loans > 1 year
**Debtors**
Trade debtors
Other creditors
Taxation & social security
Accruals
**Creditors: amounts falling due within one year**
Trade creditors|700,292
-
-
**700,292**
213,952
14,006
**227,958**
**472,334**
486,340
Long
Leasehold|£
24,228
6,543
-
**30,771**
19,954
2,163
-
**22,117**
**8,654**
4,274
**2021**
**£**
**8,763**
**8,763**
**2021**
**£**
**911**
**3,960**
**42,382**
**11,898**
**44,317**
**103,468**
**2021**
**£**
**121,524**
**121,524**
Fixtures,
fittings &
equipment|**Total**
**£**
**724,520**
**6,543**
**-**|
|---|---|---|---|
||||**731,063**|
||||**233,906**
**16,169**
**-**|
||||**250,075**|
||||**480,988**|
||||490,614|
||||2020
£
10,272|
||||10,272|
||||2020
£
1,495
3,700
39,916
6,694
43,786|
||||95,591|
||||2020
£
164,911|
||||164,911|
Bank loans totalling £163,906 (2020: £204,827) are secured against long leasehold property and repayble by 11 February 2025. Loan 1 has a 6.15% fiscal interest rate and the other 5.93%.
14
**For the year ended 31 December 2021**
## **Kingsgate Workshop Trust Notes to the financial statements**
|**15(a)**
Tangible fixed assets
Net current assets
Crediors: Amounts falling due after more than one year
**Net assets at the end of the year**
**15(b)**
Tangible fixed assets
Net current assets
Crediors: Amounts falling due after more than one year
Net assets at the end of the year
**16(a) Movements in funds- Current year**
**£**
**Restricted funds:**
Building fund
**88,428**
Structual works funds
**40,000**
Art Council
**-**
**Total restricted funds**
**128,428**
**At the**
**start of**
**the year**
Analysis of net assets between funds- Prior year
**Analysis of net assets between funds- Current year**|**£**
**-**
**-**
**2,872**
**2,872**
**Incoming**
**resources**
**& gains**|**Unrestricted**
**Funds**
**£**
**-**
**264,591**
**-**
**264,591**
Unrestricted
funds
£
-
224,754
-
224,754
**£**
**-**
**-**
**(2,872)**
**(2,872)**
**Outgoing**
**resources &**
**losses**|**Restricted**
**Funds**
**£**
**480,988**
**(231,035)**
**(121,524)**
**128,428**
Restricted
funds
£
504,989
(170,797)
(205,764)
128,428
**Transfers**
**£**
**-**
**-**
**-**
**-**|**Total**
**Funds**
**£**
**480,988**
**33,555**
**(121,524)**|
|---|---|---|---|---|
|||||**393,019**|
|||||Total
funds
£
504,989
53,957
(205,764)|
|||||353,182|
|||||**£**
**88,428**
**40,000**
**-**
**At the end**
**of the**
**year**|
|||||**128,428**|
The building fund is to research and develop the existing site, including the life long learing facility. The structural works funds are for use as may be required over the coming years.
|**General funds**
Total Unrestricted Funds
**Total unrestricted funds**
**Total funds**|**224,754**
**224,754**
**353,182**|**299,464**
**299,464**
**302,336**|**(259,627)**
**(259,627)**
**(262,499)**|**-**
**-**
**-**|**264,591**|
|---|---|---|---|---|---|
||||||**264,591**|
|||||||
||||||**393,019**|
15
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
|**16(b)**Movements in funds-Prior year
Restricted funds:
Building fund
Structual works funds
Art Council
Total restricted funds|£
88,428
40,000
-
128,428
At the start
of the year|£
-
-
25,844
25,844
Incoming
resources &
gains|£
-
-
(25,844)
(25,844)
Outgoing
resources &
losses|Transfers
£
-
-
-
-|£
88,428
40,000
-
At the end
of the year|
|---|---|---|---|---|---|
||||||128,428|
The building fund is to research and develop the existing site, including the life long learing facility. The structural works funds are for use as may be required over the coming years.
|General funds
Total Unrestricted Funds
Total unrestricted funds
Total funds|146,342
146,342
274,770|302,343
302,343|(223,931)
(223,931)
(249,775)|-
-
-|224,754|
|---|---|---|---|---|---|
||||||224,754|
|||||||
|||328,187|||353,182|
## **17 Operating lease commitments**
At the balance sheet date, the charity had no financial commmitment under non-cancellable operating leases.
## **18 Pension scheme**
The charity operates a defined contribution pension scheme. The charity makes contributions to the personal pensions of its employees based on a percentage of salary.
## **19 Related party transactions**
There were no related party transactions to disclose for 2021 (2020: none).
16
## **Kingsgate Workshop Trust**
**Statement of financial activities** (incorporating an income and expenditure account) **For the year ended 31 December 2021**
|**Unrestricted**
**Funds**
Note
**£**
**Income from:**
3
**513**
4
**298,769**
5
**182**
**299,464**
6
**259,627**
**259,627**
7
**39,837**
**-**
**39,837**
**Reconciliation of funds:**
**224,754**
**264,591**
Donations and legacies
Charitable activities
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**
**Net income for the year**
Transfers between funds
**Total expenditure**
**Total income**
**Expenditure on:**
Charitable activities
Investment income|**Restricted**
**Funds**
**£**
**-**
**2,872**
**-**
**2,872**
**2,872**
**2,872**
**-**
**-**
**-**
**128,428**
**128,428**|**2021**
**Total**
**Funds**
**£**
**513**
**301,641**
**182**
**302,336**
**262,499**
**262,499**
**39,837**
**-**
**39,837**
**353,182**
**393,019**|2020
Total
Funds
£
10
328,123
54|
|---|---|---|---|
||||328,187|
||||249,775|
||||249,775|
||||78,412
-|
||||78,412
274,770|
||||353,182|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 16 to the financial statements.
The attached notes form part of the financial statements.
6
## **Kingsgate Workshop Trust Balance sheet As at 31 December 2021**
|**Note**
**Fixed assets:**
**11**
**Current assets:**
**12**
**Liabilities:**
**13**
**Liabilities:**
**14**
**16**
Total unrestricted funds
**Total funds**
Unrestricted funds:
General funds
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Funds**
Restricted funds
Creditors: amounts falling due after one year
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Tangible assets|**2021**
**£**
**8,763**
**128,260**|**2021**
2020
**£**
£
**480,988**
10,272
112,798
123,070
95,591
**33,555**
**514,543**
**121,524**
**393,019**
**128,428**
224,754
**264,591**
**393,019**|2020
£
490,614
27,479|
|---|---|---|---|
||**137,023**
**103,468**|||
||**264,591**|||
||||518,093
164,911|
||||353,182|
||||128,428
224,754|
|||||
||||353,182|
Approved by the trustees on
and signed on their behalf by:
## **Spirit de la Mare Chair**
The attached notes form part of the financial statements.
7
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **1 Accounting policies**
## **a) 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 statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Charities SORP FRS 102 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005) which has since been withdrawn.
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 or note.
## **b) Going concern**
The trustees consider that there are no material uncertainties despite the impact of COVID-19 about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **c) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether grants or grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.
## **d) Donations of gifts, services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e) Interest receivable**
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.
## **f) Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds 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 are donations which the donor has specified are to be solely used for
8
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **1 Accounting policies (continued)**
## **g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Costs of raising funds comprise of trading costs and the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h) Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.
## **i) Tangible fixed assets**
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
˜ Leasehold building 2 % per annum
Fixtures, Fittings and Equipment 20 % per annum
## **j) 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.
## **k) Cash at bank and in hand**
Cash at bank and cash 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.
## **l) 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.
9
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **2 Detailed comparatives for the statement of financial activities**
|Donations and legacies
Charitable activities:
Other income
Charitable activities:
Donations
Art Council
Culture at Risk CLT grant
Licence fee income
Licence recharges
Hire of education building
Shop sales
**Net income**
**Total expenditure**
**Income from:**
**Total income**
**Expenditure on:**
**Net income before gains / (losses) on investments**
Net gains / (losses) on investments
Transfers between funds
**Income from charitable activities**
**Net income before other recognised gains and losses**
**Income from donations and legacies**
Total funds carried forward
**Net movement in funds**
**Total funds brought forward**
Total income from charitable activities
**Income earned from charitable activities**
**_Grants_**|**Unrestricted**
**funds**
**£**
**513**|£
10
302,279
54
302,343
223,931
Unrestricted
funds|Restricted
funds
£
-
25,844
-|2020
Total
funds
£
10
328,123
54|
|---|---|---|---|---|
||||25,844|328,187|
||||25,844|249,775|
|||223,931|25,844|249,775|
|||78,412
-
78,412
-
78,412
78,412
146,342
224,754
**£**
**-**
**Restricted**
**funds**|-
-|78,412
-|
||||-
-|78,412
-|
||||-
-
128,428|78,412
78,412
274,770|
||||128,428|353,182|
||||**2021**
**Total**
**funds**
**£**
**513**|2020
Total
funds
£
10|
||**513**|**-**|**513**|10|
||**Unrestricted**
**funds**
**£**
**-**
**-**
**272,596**
**21,939**
**1,695**
**2,538**|**£**
**2,872**
**-**
**-**
**-**
**-**
**-**
**Restricted**
**funds**|**2021**
**Total**
**funds**
**£**
**2,872**
**-**
**272,596**
**21,939**
**1,695**
**2,538**|2020
Total
funds
£
25,844
13,520
269,165
17,349
69
2,176|
||**298,769**|**2,872**|**301,641**|328,123|
- **3 Income from donations and legacies**
**4 Income from charitable activities**
- **5 Income from Investments**
|Bank interest|**Unrestricted**
**funds**
**£**
**182**
**182**|**£**
**-**
**-**
**Restricted**
**funds**|**2021**
**Total**
**funds**
**£**
**182**|2020
Total
funds
£
54|
|---|---|---|---|---|
||||**182**|54|
10
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **6(a) Analysis of expenditure- Current year**
|**Analysis of expenditure- Current year**||||
|---|---|---|---|
|Staff costs
**_Direct cost_**
Grants awarded
Education project
Gallery and studio cost
Residency running cost
Events Prog Management
Research & development
**_Support costs_**
Rent and rates
Insurance
Light and heat
Repair and maintenance
Travelling and subsistence
Cleaning and waste
Printing, postage and stationary
Advertising
Telephone/IT supports
Trsutee meeting expenses
Depreciation
Accountancy fees
Independent examiner fees
Sundry
Loan interest for the year
Bank charges and interests
**Total expenditure 2021**
Total expenditure 2020|**Charitable**
**activities**
**£**
**88,074**
**-**
**3,881**
**1,044**
**28,135**
**675**
**2,017**
**11,032**
**14,701**
**25,103**
**24,703**
**496**
**6,833**
**467**
**1,300**
**12,795**
**64**
**16,169**
**7,125**
**3,960**
**1,182**
**11,320**
**1,423**
**262,499**
249,775|**2021 Total**
**£**
**88,074**
**-**
**3,881**
**1,044**
**28,135**
**675**
**2,017**
**11,032**
**14,701**
**25,103**
**24,703**
**496**
**6,833**
**467**
**1,300**
**12,795**
**64**
**16,169**
**7,125**
**3,960**
**1,182**
**11,320**
**1,423**|2020 Total
£
99,801
13,020
1,121
197
15,287
1,750
1,537
10,499
13,721
21,607
15,201
281
4,404
1,167
536
10,537
50
15,074
5,266
3,700
65
13,679
1,275|
|||**262,499**|249,775|
|||249,775||
Of the total expenditure, £259,627 were unrestricted (2020: £223,931) and £2,872 were restricted (2020: £25,844).
11
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
|**6(b)**
Staff costs
**_Direct cost_**
Grants awarded
Education project
Gallery and studio cost
Residency running cost
Events Prog Management
Research & development
**_Support costs_**
Rent and rates
Insurance
Light and heat
Repair and maintenance
Travelling and subsistence
Cleaning and waste
Printing, postage and stationary
Advertising
Telephone/IT supports
Trsutee meeting expenses
Depreciation
Audit & accountancy fees
Sundry
Loan interest for the year
Loan interest for the year
Bank charges and interests
Total expenditure 2020
Analysis of expenditure- Prior year|Charitable
activities
£
99,801
13,020
1,121
197
15,287
1,750
1,537
10,499
13,721
21,607
15,201
281
4,404
1,167
536
10,537
50
15,074
8,966
65
13,679
1,275
249,775|2020 Total
£
99,801
13,020
1,121
197
15,287
1,750
1,537
10,499
13,721
21,607
15,201
281
4,404
1,167
536
10,537
50
15,074
8,966
65
13,679
-
1,275|2019 Total
£
101,542
-
8,322
2,549
25,644
10,529
5,693
11,433
13,220
26,654
15,561
2,076
8,209
3,348
1,565
5,352
390
15,167
8,817
277
15,849
-
1,345|
|---|---|---|---|
|||249,775|283,542|
12
**Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
## **7 Net income for the year**
This is stated after charging / crediting:
Independent Examiner's Fees net of VAT Depreciation
|**2021**
**£**
**3,300**
**16,169**|2020
£
**3,083**
**15,074**|
|---|---|
## **8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
Staff costs were as follows:
|Staff costs were as follows:|||
|---|---|---|
|Social security costs
Salaries and wages
Other staff costs
Freelance staff
Pension contributions|**2021**
**£**
**75,300**
**717**
**1,262**
**9,018**
**1,777**
**88,074**|2020
£
91,934
1,865
1,510
733
3,759|
|||99,801|
The total employee benefits including pension contributions of the key management personnel were £25,068 (2020: £21,275).
No employees earned more than £60,000 per annum.
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).
No trustees received any payment or reimbursement of travel and subsistence costs.
## **9 Staff numbers**
The average number of employees (head count based on number of staff employed) during the year was as follows:
|Charitable activity|**2021**
**No.**
**7**
**7**|2020
No.
7|
|---|---|---|
|||7|
## **10 Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
13
**Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
|**11**
**Tangible fixed assets**
**Cost**
At the start of the year
Additions in year
Disposals in year
At the end of the year
**Depreciation**
At the start of the year
Charge for the year
Eliminated on disposal
At the end of the year
**Net book value**
**At the end of the year**
At the start of the year
**12**
**13**
Bank loan
**14**
**Creditors: amounts falling due after one year**
Bank loans > 1 year
**Debtors**
Trade debtors
Other creditors
Taxation & social security
Accruals
**Creditors: amounts falling due within one year**
Trade creditors|700,292
-
-
**700,292**
213,952
14,006
**227,958**
**472,334**
486,340
Long
Leasehold|£
24,228
6,543
-
**30,771**
19,954
2,163
-
**22,117**
**8,654**
4,274
**2021**
**£**
**8,763**
**8,763**
**2021**
**£**
**911**
**3,960**
**42,382**
**11,898**
**44,317**
**103,468**
**2021**
**£**
**121,524**
**121,524**
Fixtures,
fittings &
equipment|**Total**
**£**
**724,520**
**6,543**
**-**|
|---|---|---|---|
||||**731,063**|
||||**233,906**
**16,169**
**-**|
||||**250,075**|
||||**480,988**|
||||490,614|
||||2020
£
10,272|
||||10,272|
||||2020
£
1,495
3,700
39,916
6,694
43,786|
||||95,591|
||||2020
£
164,911|
||||164,911|
Bank loans totalling £163,906 (2020: £204,827) are secured against long leasehold property and repayble by 11 February 2025. Loan 1 has a 6.15% fiscal interest rate and the other 5.93%.
14
**For the year ended 31 December 2021**
## **Kingsgate Workshop Trust Notes to the financial statements**
|**15(a)**
Tangible fixed assets
Net current assets
Crediors: Amounts falling due after more than one year
**Net assets at the end of the year**
**15(b)**
Tangible fixed assets
Net current assets
Crediors: Amounts falling due after more than one year
Net assets at the end of the year
**16(a) Movements in funds- Current year**
**£**
**Restricted funds:**
Building fund
**88,428**
Structual works funds
**40,000**
Art Council
**-**
**Total restricted funds**
**128,428**
**At the**
**start of**
**the year**
Analysis of net assets between funds- Prior year
**Analysis of net assets between funds- Current year**|**£**
**-**
**-**
**2,872**
**2,872**
**Incoming**
**resources**
**& gains**|**Unrestricted**
**Funds**
**£**
**-**
**264,591**
**-**
**264,591**
Unrestricted
funds
£
-
224,754
-
224,754
**£**
**-**
**-**
**(2,872)**
**(2,872)**
**Outgoing**
**resources &**
**losses**|**Restricted**
**Funds**
**£**
**480,988**
**(231,035)**
**(121,524)**
**128,428**
Restricted
funds
£
504,989
(170,797)
(205,764)
128,428
**Transfers**
**£**
**-**
**-**
**-**
**-**|**Total**
**Funds**
**£**
**480,988**
**33,555**
**(121,524)**|
|---|---|---|---|---|
|||||**393,019**|
|||||Total
funds
£
504,989
53,957
(205,764)|
|||||353,182|
|||||**£**
**88,428**
**40,000**
**-**
**At the end**
**of the**
**year**|
|||||**128,428**|
The building fund is to research and develop the existing site, including the life long learing facility. The structural works funds are for use as may be required over the coming years.
|**General funds**
Total Unrestricted Funds
**Total unrestricted funds**
**Total funds**|**224,754**
**224,754**
**353,182**|**299,464**
**299,464**
**302,336**|**(259,627)**
**(259,627)**
**(262,499)**|**-**
**-**
**-**|**264,591**|
|---|---|---|---|---|---|
||||||**264,591**|
|||||||
||||||**393,019**|
15
## **Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2021**
|**16(b)**Movements in funds-Prior year
Restricted funds:
Building fund
Structual works funds
Art Council
Total restricted funds|£
88,428
40,000
-
128,428
At the start
of the year|£
-
-
25,844
25,844
Incoming
resources &
gains|£
-
-
(25,844)
(25,844)
Outgoing
resources &
losses|Transfers
£
-
-
-
-|£
88,428
40,000
-
At the end
of the year|
|---|---|---|---|---|---|
||||||128,428|
The building fund is to research and develop the existing site, including the life long learing facility. The structural works funds are for use as may be required over the coming years.
|General funds
Total Unrestricted Funds
Total unrestricted funds
Total funds|146,342
146,342
274,770|302,343
302,343|(223,931)
(223,931)
(249,775)|-
-
-|224,754|
|---|---|---|---|---|---|
||||||224,754|
|||||||
|||328,187|||353,182|
## **17 Operating lease commitments**
At the balance sheet date, the charity had no financial commmitment under non-cancellable operating leases.
## **18 Pension scheme**
The charity operates a defined contribution pension scheme. The charity makes contributions to the personal pensions of its employees based on a percentage of salary.
## **19 Related party transactions**
There were no related party transactions to disclose for 2021 (2020: none).
16