2021-08-31-accounts - The Arts Depot Trust Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Reference and Administrative Details
Report ofthe Trustees	2	to	9
Report ofthe Independent Auditors	10	to	12
Consolidated Statement ofFinancial Activities		13
Consolidated Balance Sheet		14
Company Balance Sheet
Cash Flow Statement		16
Notes tothe Cash Flow Statement		17
Notes to the Financial Statements	18	to	33

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies	2	370,122	1,128	371,250	447,810
Charitable activities
Theatre and projects Other trading activities	6 3	1,056,550 508,064	190,890 1,700	1,247,440 509,764	770,477 587,776
Investment income	4	10		10	948
Other income	5	94,558		94,558	321,794
Total		2,029,304	193,718	2,223,022	2,128,805
EXPENDITURE ON
Fundraising costs Other trading activities	7	50,936 62,940		50,936 62,940	50,584 169,369
Charitable activities	8
Theatre and projects		1,274,723	183,654	1,458,377	1,915,015
Total		1,388,599	183,654	1,572,253	2,134,968
NET INCOME / (EXPENDITURE)		640,705	10,064	650,769	(6,163)
Net gains on investments		334		334
Taxation (paid)/receivable		(100)		(100)	22,668
NET INCOME		640,939	10,064	651,003	16,505
RECONCILIATION OFFUNDS
Total funds brought forward		177,144	180,117	357,261	340,756
TOTAL FUNDS CARRIED FORWARD		818,083	190,181	1,008,264	357,261

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	16	69,091		69,091	114,953
Investments	17	8,028		8,028
		77,119		77,119	114,953
CURRENT ASSETS
Debtors	18	188,039		188,039	213,260
Cash at bank and in hand		1,078,390	190,181	1,268,571	502,416
		1,266,429	190,181	1,456,608	715,676
CREDITORS
Amounts falling due within one year	19	(525,465)		(525,465)	(441,848)
NET CURRENT ASSETS		740,964	190,181	931,145	273,828
TOTAL ASSETSLESSCURRENT
LIABILITIES		818,083	190,181	1,008,264	388,781
CREDITORS
Amounts falling due after more than one year	20				(31,520)
NET ASSETS		818,083	190,181	1,008,264	357,261
FUNDS	23
Unrestricted funds				818,083	177,144
Restricted funds				190,181	180,117
TOTAL FUNDS				1,008,264	357,261

				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	16	49,342		49,342	80,270
Investments	17	8,030		8,030	2
		57,372		57,372	80,272
CURRENT ASSETS
Debtors	18	225,769		225,769	198,831
Cash at bank and in hand		910,267	190,182	1,100,449	471,080
		1,136,036	190,182	1,326,218	669,911
CREDITORS
Amounts falling due within one year	19	(376,161)		(376,161)	(361,975)
NET CURRENT ASSETS		759,875	190,182	950,057	307,936
TOTAL ASSETSLESSCURRENT
LIABILITIES		817,247	190,182	1,007,429	388,208
CREDITORS
Amounts falling due atter more than one year	20				(31,520)
NET ASSETS		817,247	190,182	1,007,429	356,688
FUNDS	23
Unrestricted funds				817,247	176,571
Restricted funds				190,182	180,117
TOTAL FUNDS				1,007,429	356,688

				2021	2020
			Notes
Cash flows &om operating	activities
Cash generated from operations				841,674	46,363
Net cash provided by operating activities				841,674	46,363
Cash flows fiom investing	activities
Purchase oftangible tixed assets Sale offixed asset investments				(4,003) 1,553	(21,082)
Interest received				10	948
Net cash used in investing	activities			~2,440)	(20,134)
Cash fiows &om financing	activities
Loan repayments in year Capital repayments in year				(64,441) (8,638)	(29,721) (8,988)
Net cash used in financing	activities			(73,079)	(38,709)
Change in cash and cash equivalents		in the
reporting period Cash and cash equivalents ofthe reporting period	at the beginning			766,155 502,416	(12,480) 514,896
Cash and cash equivalents	at the end	ofthe
reporting period				1,268,571	502,416

		Notes to the Consolidated Cash Flow Statement for the year ended 31August 2021	Notes to the Consolidated Cash Flow Statement for the year ended 31August 2021	Notes to the Consolidated Cash Flow Statement for the year ended 31August 2021	Notes to the Consolidated Cash Flow Statement for the year ended 31August 2021	Notes to the Consolidated Cash Flow Statement for the year ended 31August 2021	Notes to the Consolidated Cash Flow Statement for the year ended 31August 2021	Notes to the Consolidated Cash Flow Statement for the year ended 31August 2021
RECONCILIATION		OFNET INCOME TONET CASH FLOW FROM OPERATING ACTIVITIES
							2021		2020
Net income for the reporting				period (as per the Statement ofFinancial
Activities)							651,003		16,505
Adjustments for:
Depreciation charges							49,865		72,433
Donated assets							(9,247)
(Gains)/Losses on investments Interest received (increase)/decrease in stocks Decrease/(increase) in debtors Increase in creditors							(334) (10) 25,221 125,176	(948) 3,129 (138,045) 93,289
Net cash provided by		operations					841,674		46,363
ANALYSIS OF CHANGES IN NET FUNDS
					At	1.9.20	Cash flow	At	31.8.21
							6
Net cash
Cash at bank and in	hand				502,416		766,155	1,268,571
					502,416		766,155	1,268,571
Debt
Finance leases						(8,638)	8,638
Debts falling due within			1 year		(32,921)		32,921
Debts falling due after		1	year		(31,520)		31,520
					(73,079)		73,079
Total					429,337		839,234	1,268,571

Group						2021	2020
	Donations					43,065	38,512
	Gift aid					895	1,988
	Grants					327,290	407,310
						371,250	447,810
	Grants received,		included		in the above, are as follows:
						2021	2020
	Arts Council England			-NPO funding		307,290	307,310
	ACE Emergency		Response Funding			20,000	100,000
						327,290	407,310
3.	OTHER	TRADING		ACTIVITIES
Group						2021	2020
	Rental income					490,430	466,515
	Catering	income				19,334	121,261
						509,764	587,776
4.	INVESTMENT		INCOME
Group						2021	2020
	Deposit account		interest			10	948

			THE ARTS DEPOT TRUSTLIMITED	THE ARTS DEPOT TRUSTLIMITED	THE ARTS DEPOT TRUSTLIMITED
			Notes to the Financial Statements - continued
5.	OTHER INCOME			for the year ended 31August 2021
Group						2021	2020
	Government Covid support					94,558	321,794
6.	INCOME FROM CHARITABLE ACTIVITIES
Group						2021	2020
				Activity
	Programming			Theatre and projects		59,502	414,895
	Hires			Theatre and projects		88,458	121,234
	Grants			Theatre and projects		1,099,480	234,348
						1,247,440	770,477
	Grants received, included	in	the	above, are as follows:
						2021	2020
	City Bridge Trust					30,300
	Francis Winham Foundation						2,000
	Future Arts Centres					7,000	8,000
	National Theatre Connections		Festival			5,450	5,375
	Ove Arup Foundation					5,000
	People's Postcode Trust Red Hill Trust Sobell Foundation					2,300 5,000	5,000 3,000 5,000
	The John Shaw Foundation						1,000
	The Leathersellers Company		Charitable		Fund		10,000
	The W G Edwards Charitable		Foundation				500
	Other donations						1,723
	John Lyons Charity					33,300	50,000
	The Ironmongers Company					5,200
	Young Barnet Foundation					2,090	450
	Creative Industries Insight	Programme					70,000
	A New direction					20,000	25,000
	Souter Charitable Trust					3,000
	Young Londoners Fund						24,000
	Foyle Foundation						10,000
	Jesus Hospital Charity						3,600
	John Homiman's Childrens Trust Schools project contributions from schools involved						3,500 1,200
	The Edward Gosling Foundation						5,000
	Arts Council England -CRF		funding			952,440
	GLA Young Londoners					23,250
	The Hadley Trust Insight School ofArt					5,000 150
						1,099,480	234,348

		for	the year	ended 31August 20	21
7.	RAISING FUNDS
Group
	RAISING DONATIONS AND LEGACIES
						2021	2020
	Other fundraising costs					50,936	50,584
	OTHER TRADING ACTIVITIES
						2021	2020
	Catering costs					62,940	169,369
	Aggregate amounts					113,876	219,953
8.	CHARITABLE ACTIVITIES COSTS
Group						Support
					Direct	costs (see
					Costs	note 8)	Totals
	Theatre and projects				527,853	930,524	1,458,377
9.	SUPPORT COSTS
Group						Governance
				Management	Finance	costs	Totals
	Theatre and projects			840,429	80,745	9,350	930,524
10.	NET INCOME/(EXPENDITURE)
Group
	Net income/(expenditure)	is stated atter charging/(crediting);
						2021	2020
	Auditors' remuneration					4,650	5,000
	Auditors' remuneration	for non audit work				4,700	4,000
	Depreciation - owned assets					41,227	63,444
	Depreciation - assets on	hire purchase	contracts	and finance leases		8,637	8,989

			2021	2020
Wages and salaries Social security costs			703,726 54,165	911,148 64,044
Pension costs			12,630	18,129
			770,521	993,321
The average monthly	number ofemployees	during the year was as follows:
			2021	2020
Trading and raising	funds		7	30
Theatre and arts centre			73	97
Arts and education projects			3	3
			83	130

	Unrestricted	Restricted	Total
	funds	funds	funds
INCOME AND ENDOWMENTS FROM
Donations and legacies	447,810		447,810
Charitable activities
Theatre and projects	539,129	231,348	770,477
Other trading activities	587,776		587,776
Investment income	948		948
Other income	321,794		321,794
Total	1,897,457	231,348	2,128,805
EXPENDITURE ON
Raising funds	50,584		50,584
Trading operations	169,369		169,369

	continued
				Unrestricted	Restricted	Total
				funds	funds	funds
	Charitable activities
	Theatre and projects			1,699,218	215,797	1,915,015
	Total			1,919,171	215,797	2,134,969
	NET INCOME / EXPENDITURE			(21,714)	15,551	(6,163)
	Taxation (paid)/receivable			22,668		22,668
	Net movement in funds			954	15,551	16,505
	RECONCILIATION	OFFUNDS
	Total funds brought	forward		176,190	164,566	340,756
	TOTAL FUNDS CARRIED FORWARD			177,144	180,117	357,261
14.	TANGIBLE FIXED	ASSETS
Group			Long	Theatre	Office
			leasehold	equipment	equipment	Totals
	COST
	At 1 September 2020		285,537	121,077	520,349	926,963
	Additions			4,003		4,003
	At 31 August 2022		285,537	125,080	520,349	930,966
	DEPRECIATION
	At 1 September 2020		231,287	95,884	484,839	812,010
	Charge for year		13,352	13,170	23,343	49,865
	At 31 August 2021		244,639	109,054	508,182	861,875
	NET BOOK VALUE
	At 31 August 2021		40,898	16,026	12,167	69,091
	At 31 August 2020		54,250	25,193	35,510	114,953

TA	NGIBLE FIXED ASSETS- Continued
		Long	Theatre	Office
		leasehold	equipment	equipment	Totals
		8
COST
At	1 September 2020 and 31 August 2021	281,753	43,440	468,090	793,283
DEPRECIATION
At	1 September 2020	227,503	40,675	444,835	713,013
Charge for year		13,352	1,665	15,911	30,928
At	31 August 2021	240,855	42,340	460,746	743,941
NET BOOK VALUE
At	31 August 2021	40,898	1,100	7,344	49,342
At	31 August 2020	54,250	2,765	23,255	80,270

	Unlisted
	investments	Totals
MARKET VALUE
At 1 September 2020
Additions	9,247	9,247
Disposals Revaluations	(1,553) 334	(1,553) 334
At 31 August 2021	8,028	8,028
NET BOOK VALUE
At 31 August 2021	8,028	8,028
At 31 August 2020

			Shares in
			gl'cup	Unlisted
			undertakings	investments	Totals
MARKET VALUE
At 1 September 2020					2
Additions Disposals Revaluations				9,247 (1,553) 334	9,247 (1,553) 334
At 31 August 2021				8,028	8,030
NET BOOKVALUE
At 31 August 2021				8,028	8,030
At 31 August 2020
There were no investment	assets outside the UK.
Cost or valuation at 31 August 2021 is represented		by;
			Shares in
			group	Unlisted
			undertakings	investments	Totals
Valuation in 2021				334	334
Cost				7,694	7,696
				8,028	8,030

The compan	y's investments at the	y's investments at the	balanc	e sheet date	in the	share capital of	companies include the	following:
Arts Depot	Productions Limited
Registered	office: 5 Nether Street,		London N12 OGA
Nature ofbusiness: to provide		theatrical		and entertainment		facilities
					58
Class ofshare				holding
ordinary					100
							2021	2020
Aggregate	capital and reserves						837	575
Profit/(loss)	for the year						262	(9,877)
RESULTS	OFARTS DEPOT PRODUCTIONS LIMITED
The summary financial performance			ofthe subsidiary		alone	is:
							2021	2020
Turnover Cost ofsales and administrative		expenses					187,511 (187,149)	827,842 (860,389)
Corporation	tax						100	22,668
(Loss)/Profit for the financial		year					262	(9,877)

17	RESULTS OF TH	E ARTS DEPOT TRUSTLIMITED	E ARTS DEPOT TRUSTLIMITED
	The results ofThe Production Limited	Arts Depot Trust Limited, excluding those ofit's wholly are as follows:		owned subsidiary 2021	Arts Depot 2020
	Income and endowments			2,059,008	1,300,963
	Expenditure on Charitable		Activities	~1 444 4111	11274 7411
	Net incoming resources			650,407	26,382
	Gain/(loss) on revaluation			334
	Total funds brought	forward		356,688	330,306
	Total funds carried	forward		1,007,429	356,688
18.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
Group				2021	2020
	Trade debtors			61,317	122,961
	Other debtors			4,080	3,645
	Prepayments and accrued income			122,642	86,654
				188,039	213,260
Parent
				2021	2020
	Trade debtors			53,668	119,607
	Amounts owed by group undertakings			71,106	21,432
	Other debtors			895	3,051
	VAT			709	5,632
	Prepayments and accrued income			99,391	49,109
				225,769	198,831
19.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
Group				2021	2020
	Bank loans and overdraits		(see note 21)		32,921
	Finance leases (see	note 22)			8,638
	Trade creditors			230,677	203,460
	Social security and	other taxes		15,394	10,654
	Other creditors			61,930	45,933
	Accruals and deferred income			157,033	106,838
	Accrued expenses			60,431	33,404
				525,465	441,848
Parent
				2021	2020
				f
	Bank loans and overdraits		(see note 21)		32,921
	Finance leases (see	note 22)			8,638
	Trade creditors			193,272	149,250
	Social security and	other taxes		14,849	10,209
	Other creditors			45,893	45,823
	Accruals and deferred income			67,098	87,098
	Accrued expenses			55,049	28,036
				376,161	361,975

20.	CREDITORS:	AMOUNTS FALLING DUE AFTERMORE THAN	ONE YEAR
Group	and Parent		2021	2020
	Bank loans (see note 21)			31,520
21.	LOANS
Group	and Parent
	An analysis ofthe maturity ofloans is given below:
			2021	2020
	Amounts falling	due within one year on demand:		g
	Bank loans			32,921
	Amounts falling	between one and two years:
	Bank loans - 1-2years			31,520
22.	LEASING AGREEMENTS
Group	and Parent
	Minimum lease	payments fall due as follows:
			Finance leases
			2021	2020
	Net obligations	repayable:
	Within one year			8,638
			Non-cancellable	operating
			leases
			2021	2020
	Within one year Between one and five years		2,604 866	2,599 3,470
			3,470	6,069

MOVEMENT IN FUNDS
		Net	Transfers
		movement	between	At
	At 1.9.20	in funds	funds	31.8.21
Unrestricted funds
General fund	177,144	420,939	(75,000)	523,083
Designated Fund		220,000	75,000	295,000
Restricted funds	177,144	640,939		818,083
Arts Education &Participation	164,000	(35,800)		128,200
Capital fund	5,617	(5,136)		481
Artistic Development Schools Fund	10,500	4,000 47,000		14,500 47,000
	180,117	10,064		190,181
TOTAL FUNDS	357,261	651,003		1,008,264
Net movement in funds, included	in the above are as follows:
	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
Unrestricted funds
General fund	1,809,304	(1,388,699)	334	420,939
Designated Fund	220,000			220,000
	2,029,304	(1,388,699)	334	640,939
Restricted funds
Arts Education & Participation	37,078	(72,878)		(35,800)
Capital fund Artistic Development Schools Fund	107,640 49,000	(5,136) (103,640) (2,000)		(5,136) 4,000 47,000
	193,718	(183,654)		10,064
TOTAL FUNDS	2,223,022	(1,572„353)	334	651,003

MOVEMENT IN FUNDS - continued
		Net	Transfers
		movement	between	At
	At 1.9.20	in funds	funds	31.8.21
Unrestricted funds
General fund	176,571	420,676	(75,000)	522,247
Designated Fund		220,000	75,000	295,000
	176,571	640,676		817,247
Restricted funds
Arts Education &Participation	164,000	11,200		175,200
Capital fund	5,617	(5,135)		482
Artistic Development	10,500	4,000		14,500
	180,117	10,065		190,182
TOTAL FUNDS	356,688	650,741		1,007,429

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
Unrestricted funds
General	fund	1,645,290	(1,224,948)	334	420,676
Designated Fund		220,000			220,000
		1,865,290	(1,224,948)	334	640,676
Restricted funds
Arts Education &Participation		86,078	(74,878)		11,200
Capital	fund		(5,135)		(5,135)
Artistic	Development	107,640	(103,640)		4,000
		193,718	(183,653)		10,065
TOTAL	FUNDS	2,059,008	(1,408,601)	334	650,741

		Net
		movement	At
	At 1.9.19	in funds	31.8.20
Unrestricted funds
General fund Restricted funds	176,190	954	177,144
Arts Education &Participation	128,500	35,500	164,000
Capital fund Artistic Development	21,066 15,000	(15,449) ~4,500)	5,617 10,500
	164,566	15,551	180,117
TOTAL FUNDS	340,756	16,505	357,261

	Incoming	Resources	Movement
	resources	expended	in funds
Unrestricted funds
General fund Restricted funds	1,897,457	(1,896,503)	954
Arts Education &Participation	151,248	(115,748)	35,500
Capital fund Artistic Development	80,100	(15,449) ~84,600)	(15,449) (4,500)
	231,348	~215,797)	15,551
TOTAL FUNDS	2,128,805	(2, 112,300)	16,505

				Net
				movement	At
			At 1.9.19	in funds	31.8.20
Unrestricted	funds
General fund			165,740	8,393	174,133
Access				2,438	2,438
			165,740	10,831	176,571
Restricted funds
Arts Education &Participation			128,500	35,500	164,000
Capital fund			21,066	(15,449)	5,617
Artistic Development			15,000	(4,500)	10,500
			164,566	15,551	180,117
TOTAL FUNDS			330,306	26,382	356,688
Comparative	net movement	in funds, included	in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted	fonds
General fund Access			1,065,819 3,796	(1,057,426) (1,358)	8,393 2,438
			1,069,615	(1,058,784)	10,831
Restricted funds
Arts Education &Participation			151,249	(115,749)	35,500
Capital fund				(15,449)	(15,449)
Artistic Development			80,100	(84,600)	(4,500)
			231,349	(215,798)	15,551
TOTAL FUNDS			1,300,964	(1,274,582)	26,382

25.	DEFER	RED INCOME
Group
	Balance	at 1 September 2020	106,838
	Amount Amount	released to incoming resources deferred in the year	(106,838) 157,033
	Balance	at 31 August 2021	157,033