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2023-12-31-accounts

Annual Report of Kingsgate Workshops Trust Annual Report and Accounts 2023

www.kingsgateworkshops.org.uk Charity number 1082112

KINGSGATE WORKSHOP TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

Chair’s foreword

Under the leadership of our Director, Dan Howard-Birt, Kingsgate Workshops is a stable organisation which fosters a friendly and supportive community of artists and makers and provides a strong foundation for public-facing creative opportunities. Following a difficult year, 2023 has seen important improvements to the building, a strategic strengthening of organisational policies and processes, and the development of a skilled and passionate board.

Studio occupancy remained consistently high throughout the year and our improved financial position as we reach the last years of our building loans allows us to plan essential capital works, albeit with further loans. These will improve provision for our studio holders. We have also continued to take steps to develop links between studio holders, our public programme and the wider creative community.

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 voluntarily support Kingsgate’s work.

Jonathan Potter,

Acting Chair

1

KINGSGATE WORKSHOP TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

About Kingsgate Workshops

Kingsgate Workshops Trust is a registered charitable incorporated organisation 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 (including through mentored artist-in-residence opportunities), offering them the space and support to gain industry specific experience and so build a career in the arts.

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 2022 the Trustees were:

Spirit De La Mare

Tamsin Clark (resigned 31 December 2022) Graham Martin (resigned 16 December 2022) Holly Graham (resigned 19 October 2022) Alison Taylor (resigned 31 December 2022) Patrick Adam Jones (appointed 16 November 2022) Jonathan Potter (appointed 1 December 2022) Maria Claridge (appointed 1 December 2022) Simon Glover (appointed 1 December 2022) Sabrina Scolaro (appointed 1 December 2022) Savi Hebbur (appointed 1 December 2022)

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

Improving procedures

With the successful recruiting of new trustees at the end of 2022 and in Q3 of 2023, this year we have given significant attention to the way we induct trustees. We are now confident in ensuring that they are well informed about the needs and objectives of the charity, and that concerns around conflicts of interest are minimised. Procedures for extra-meeting decision making are now in place too. An awayday for trustees focussing on KWT’s charitable objects was held in June, facilitated by artist and psychotherapist Lucy Steggals.

Improving workshop spaces

In 2023, Kingsgate Workshops continued to make repairs and improvements to the fabric and facilities of its Victorian warehouse building. Repairs to studio 7 (following a car impacting the building) were completed in March returning that studio to a usable condition. A major structural survey of the building was begun involving the opening-up, inspection and remedial repairs to joists and beams in five key areas of the building in advance of similar inspections to be made to all units.

The communal sink and clay-trap on the first floor was improved and additional sink provision for ceramicists was provided on the ground floor.

Diversifying studio use

2

KINGSGATE WORKSHOP TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

In 2023 two artists left Kingsgate, both due to ill health. Painter, lecturer, and local resident Sean Steadman took over the licence of studio 24. Studio 29 will remain unoccupied until a major overhaul is complete following the outgoing licensee’s 25-year occupation of the space. A list of studio holders can be found on the Kingsgate Workshops website (www.kingsgateworkshops.org.uk).

Studio Holder events

Public-facing events in 2023 included Open Studios events held in July and November.

Kingsgate Workshops’ partnership with Swiss Cottage Library continued with a new commission by studio holder Andrew Child exhibited at the Swiss Cottage Gallery.

During this year, six licensees made use of the Artist-in-Residence studio and/or Project Space to produce, test or document new work.

Developing the artistic vision

Kingsgate Workshops continued to develop the way we work with and support emerging artists. In an era of changing behaviours, expectations and possibilities for artists and audiences, this year we devised two series of projects which looked in depth at the current state of painting, and of artist-led projects and project spaces.

Painting is understood to be a ‘success medium’, and particularly so at times when the sector is overly dominated by commercial practices, and especially when those commercial activities exist in a tentative balance amid social instability and anxiety. The first decades of this new millennium have brought about such conditions, and with it the new rise of painting. Painting’s ubiquity in the sector covers urgent problems for young artists, namely the collapse of critical rigour and the lack of skills in looking at painting. In response to an exhibition proposal sent to Kingsgate, a series of four 2-person exhibitions were developed exploring contemporary painting through the themes of:

This series considered painting in its broadest sense, including installation and weaving alongside more conventional painting processes. Mid-career artists Katie Pratt (UK/GER), Kate Scrivener (UK), Sherman Mern Tat Sam (SGP) and Luke Dowd (USA/UK) were exhibited alongside emerging artists Rosie Mullan (UK), Adam Holmes Davies (UK), Alice Walter (UK) and Anna Schapiro (ISR/GER). New writing was commissioned in response to each exhibition from painters and writers Jillian Knipe (AUS/UK), Ossian Ward (UK), Scott McCraken (UK) and Bryony Bodimeade (UK). This series of texts will be published by Kingsgate in 2024 contributing to the discourse around contemporary painting.

In 2023 Kingsgate began an ongoing series of weekend-long exhibitions and events which profile and celebrate artist-led projects and project spaces from around the UK. The ambition of this series is to develop better mutual support for those spaces and to encourage and empower our audience of artists to try to create exhibiting and networking opportunities for other artists.

This year we hosted projects from:

3

KINGSGATE WORKSHOP TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

These short exhibitions included installation, painting, printmaking, sculpture, performance and artworks other media by 73 artists. Representatives from Brockley Gardens, LLE and hope shared their experiences and offered advice to others in a public-facing panel discussion event (hosted by Chris Fite Wassilak (Art Review))

Billboard commissions continued through 2023. New works were commissioned from established artists Andreas Rüthi (CHE), Rosa Loy (GER), Sarah Pickstone (UK) and emerging artists Anne Carney Raines (USA/UK) and Catherine Parsonage (UK).

Kingsgate Project Space’s continuing partnership with millimetre project space enabled 3 group exhibitions within a single picture frame in the lobby of the Project Space including the culmination of 2022’s evolving group exhibition This has travelled through the night to you adding works by a further 22 artists from around the globe to the 18 artists’ works already displayed. Marissa Stoffer, An Ting Teng, Zhou Xuanting exhibited in Place (Sept/Oct) and the eight painters from the core Project Space programme shared the picture frame for An Arrangement of Features (Nov/Dec).

Charity Commission

An anonymous complaint made in 2022 against Kingsgate Workshops was formally closed in August with Charity Commission satisfied that their advice has been acted upon and that the organisation is now in a stronger position.

Financial overview

The Trust returned to a stronger financial position in 2023 following a difficult year in 2022. An increase to licence fees, and the repair and return to use of those structurally impaired units, facilitated this change. Total income increased from £294,428 (2022) to £333.078 (2023).

The Trust continued to make good progress in repaying its outstanding mortgage on the Workshop premises at 110-116 Kingsgate Road.

A new Reserves policy was agreed which will now return to the board annually for revision as appropriate.

Full details can be found in the audited financial statements appended to this report.

Staffing

Administrator, Rebecca Guez left Kingsgate in December after 1 year and 5 months in post. Anna Lewis was appointed the new Administrator and began work in January 2023.

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.

Jonathan Potter,

Acting Chair

Date: 22/08/24

4

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

I report to the trustees on my examination of the accounts of the Kingsgate Workshop Trust for the year ended 31 December 2023.

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: 22 August 2024

5

Kingsgate Workshop Trust

Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 December 2023

Unrestricted
Funds
Note
£
Income from:
3
2,672
4
312,266
5
808
17,332
333,078
6
247,555
247,555
7
85,523
-
85,523
Reconciliation of funds:
293,844
379,367
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
Other income
Donations and legacies		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
128,428
128,428		 2023
Total
Funds
£
2,672
312,266
808
17,332
333,078
247,555
247,555
85,523
-
85,523
422,272
507,795		 2022
Total
Funds
£
5
284,104
166
10,153
294,428
265,175
265,175
29,253
-
29,253
393,019
422,272

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 2023

Note
Fixed assets:
11
Current assets:
12
Liabilities:
13
Liabilities:
14
16
Total unrestricted funds
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Tangible assets
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
Total funds		 2023
£
11,391
97,848		 2023
2022
£
£
530,836
9,739
64,268
74,007
108,136
3,610
534,446
26,651
507,795
128,428
293,844
379,367
507,795		 2022
£
531,894
(34,129)
109,239
105,629
379,367
497,765
75,493
422,272
128,428
293,844
422,272

Approved by the trustees on

and signed on their behalf by:

Jonathan Potter Acting 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 2023

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 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 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 2023

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 2023

2 Detailed comparatives for the statement of financial activities

Donations and legacies
Charitable activities:
Interest income
Other income
Charitable activities:
Donations
Licence fee income
Licence recharges
Hire of education building
Shop sales
Total income from charitable activities
Income earned from charitable activities
Grants
Income from donations and legacies
Total funds carried forward
Net movement in funds
Total funds brought forward
Transfers between funds
Income from charitable activities
Net income before other recognised gains and losses
Net income
Total expenditure
Income from:
Total income
Expenditure on:
Net income before gains / (losses) on investments
Net gains / (losses) on investments		 Unrestricted
funds
£
2,672		 £
5
284,104
166
10,153
294,428
265,175
Unrestricted
funds		 Restricted
funds
£
-
-
-
-		 2022
Total
funds
£
5
284,104
166
10,153
- 294,428
- 265,175
265,175 - 265,175
29,253
-
29,253
-
29,253
29,253
264,591
293,844
£
-
Restricted
funds		 -
-		 29,253
-
-
-		 29,253
-
-
-
128,428		 29,253
29,253
393,019
128,428 422,272
2023
Total
funds
£
2,672		 2022
Total
funds
£
5
2,672 - 2,672 5
Unrestricted
funds
£
292,475
19,480
120
190		 £
-
-
-
-
Restricted
funds		 2023
Total
funds
£
292,475
19,480
120
190		 2022
Total
funds
£
264,585
18,166
120
1,233
312,266 - 312,266 284,104

3 Income from donations and legacies

Bank interest Unrestricted
funds
£
808
808		 £
-
-
Restricted
funds		 2023
Total
funds
£
808		 2022
Total
funds
£
166
808 166

10

Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2023

6(a) Analysis of expenditure- Current year

Staff costs
Direct cost
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 2023
Total expenditure 2022		 Charitable
activities
£
95,930
5,814
473
11,762
2,387
14,098
14,074
24,564
17,831
131
5,664
587
2,211
14,324
1,789
17,482
6,538
3,720
261
6,204
1,711
247,555
265,175		 2023 Total
£
95,930
5,814
473
11,762
-
2,387
14,098
14,074
24,564
17,831
131
5,664
587
2,211
14,324
1,789
17,482
6,538
3,720
261
6,204
1,711		 2022 Total
£
103,929
4,219
1,903
19,147
-
4,445
11,233
14,684
24,439
18,577
642
5,882
509
1,563
12,119
988
17,527
7,205
4,140
1,357
8,824
1,843
247,555 265,175
265,175

Of the total expenditure, £247,555 were unrestricted (2022: £265,175) and £Nil were restricted (2022: Nil).

11

Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2023

6(b)
Staff costs
Direct cost
Education project
Gallery and studio cost
Residency running cost
Printing sales
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
Legal and professional fees
Trsutee meeting expenses
Depreciation
Accountancy fees
Independent examiner fees
Sundry
Loan interest for the year
Loan interest for the year
Bank charges and interests
Total expenditure 2022
Analysis of expenditure- Prior year		 Charitable
activities
£
103,929
4,219
1,903
19,147
-
4,445
11,233
14,684
24,439
18,577
642
5,882
509
1,563
12,119
988
17,527
7,205
4,140
1,357
8,824
1,843
265,175		 2022 Total
£
103,929
4,219
1,903
19,147
-
-
4,445
11,233
14,684
24,439
18,577
642
5,882
509
1,563
12,119
-
988
17,527
7,205
4,140
1,357
8,824
-
1,843		 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
265,175 262,499

12

Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2023

7 Net income for the year

This is stated after charging / crediting:

Independent Examiner's Fees net of VAT Depreciation

2023
£
3,500
17,482		 2022
£
3,500
17,527

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		 2023
£
85,214
956
1,587
4,773
3,400
95,930		 2022
£
92,557
1,113
1,448
6,657
2,154
103,929

The total employee benefits including pension contributions of the key management personnel were £33,564 (2022: £32,138).

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 (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £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 2023
No.
7
7		 2022
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 2023

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
Trade creditors
Creditors: amounts falling due within one year
Other creditors
Taxation & social security
Accruals
Debtors
Trade debtors		 766,382
16,056
-
782,438
243,285
15,649
258,934
523,504
523,097
Long
Leasehold		 £
33,114
368
-
33,482
24,317
1,833
-
26,150
7,332
8,797
2023
£
11,391
11,391
2023
£
770
3,960
47,767
7,548
45,584
105,629
2023
£
26,651
26,651
Fixtures,
fittings &
equipment		 Total
£
799,496
16,424
-
815,920
267,602
17,482
-
285,084
530,836
531,894
2022
£
9,739
9,739
2022
£
881
4,200
44,994
12,720
45,341
108,136
2022
£
75,493
75,493

Bank loans totalling £74,418 (2022: £120,487) 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

Kingsgate Workshop Trust Notes to the financial statements

For the year ended 31 December 2023

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
Analysis of net assets between funds- Current year
Analysis of net assets between funds- Prior year		 Unrestricted
Funds
£
-
379,367
-
379,367
Unrestricted
funds
£
-
293,844
-
293,844		 Restricted
Funds
£
530,836
(375,757)
(26,651)
128,428
Restricted
funds
£
531,894
(327,973)
(75,493)
128,428		 Total
Funds
£
530,836
3,610
(26,651)
507,795
Total
funds
£
531,894
(34,129)
(75,493)
422,272
16(a) Movements in funds- Current year
Restricted funds:
Building fund
Structual works funds
Total restricted funds		 £
88,428
40,000
128,428
At the
start of
the year		 £
-
-
-
Incoming
resources
& gains		 £
-
-
-
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		 293,844
293,844
422,272		 333,078
333,078
333,078		 (247,555)
(247,555)
(247,555)		 -
-
-		 379,367
379,367
507,795

15

Kingsgate Workshop Trust Notes to the financial statements For the year ended 31 December 2023

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		 £
-
-
2,872
2,872
Incoming
resources &
gains		 £
-
-
(2,872)
(2,872)
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		 264,591
264,591
393,019		 294,428
294,428		 (265,175)
(265,175)
(268,047)		 -
-
-		 293,844
293,844
297,300 422,272

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 2023 (2022: none).

16