REGISTERED COMPANY NUMBER: 03536243 (EllElaDd Wales) REGISTERED CHAIUTY NUMBER: 1083893 THE ARTS DEPOT TRUST L]M[D (A COMPANY LIMITED BY GUARthTEE) Report and Consolidated Audikd FiDanti•l StateDeuts for fbe Period I Septtmbtr 2022 to 31 March 2023 Xeinadin Auditing Chartered Accountants and Ststutory Awjitows Be¢kei Hous¢ 36 Old Je ndon EC2R 8DD 111 •ACIX9VM3 22112r2023 CCthIPANIES HOUSE A07
THE ARTS DEPOT TRUST UMITED ComteDts of the FiDalltial StxlerneDts for tbe period I Sepltmber 2022 to 31 Mareh 202J P#t¢ RelereDtt And AdmiDtstrtive Detai Rtptrrt Of tht Trustees 2 10 10 Rtp)rt of the IDdependeDI Auditor5 Consolldattd StstewtD¢ of FiAaN¢fjxl A¢tlvitks 14 CoD501idated Balanee Sheet 15 Company BaiaDtt Sheet 16 Csh Flow S¢*trwtttt 17 Noles to Ihe Cash Flow StateTreDt 18 Notes to the Finantial Ststemtnts 19 34
THE ARTS DEPOT TRUST LIMITED RefereDce aDd Administrntive Dtt*i for the period I Septswb¢r 2012 1• 31 MAr¢h 2023 TRUSTEFS Ms E C Bier(Ttsigned 1.3.23) M L H Nonvood M Mowlem (resigtted l6.5.23) Ms K Chva Cllr S Conway Ms N Coppelrnann Ms A Darr Cllr G Ir)no¢enii S Mustsfa M5 J Rughani Ms N Shah {resigd 16.5.23) Ms S Tretra Ms S Wolfe COMPANY SECRETARY V E Dorthue RECISTERED OFFICE 5 Nether Strttt Nonh Finchley London N120GA RECISTERED COMPAF4Y NUMBER 03536243 (England and Wales) REGISTERED CHARITY NUMBER 1083893 AUDITORS Xeinadin Auditin8 Chartered Accountants and Stsiuiory AJiTorS Becket House 36 Old Jewry London EC2R 8DD Page I
THE ARTS DEPOT TRUST LIMITED OIEGisfERED NUMBEK. 03S361431 Reprt ofthe Trwtees for Ihe ptritid I Stpternber 2022 to31 March 2023 Th¢ mJses who aTe also diTettors of ¢hetlwity fotthe FXUPOSE50f the Compans Act 2006. pr¢seni th¢lrrert with th¢ financi ststements of the tharitv for th¢ pttiod ended 31 Mar¢h 2023. The trusLttS have adopted th¢ provi5ion5 of Accounting and R¢wrting by Ch•riiies- Ststement of Recommen Ptacliee applicable ro chariries pr¢paring iheir aecounts in accordance with th¢ Financiol Rryorting S¢and¥d applKable the UK and Rrpublic of Ireland {FRS 102) (effective l Januarv 2019). OWECTIVES AND AcfiviTIFS In shaping ow ¢bj¢¢iiYt5 forth¢ year and pknning our xtivirie5, the truec5 have considered Ihe Charity Ci>mmitsion$ Euidan¢¢ on public benefJL irKluding th¢ guidatt-wkblic iynefit". nLnning a charity {PB21'. artsdepot 1$ a creative tK)me forcveryone, with avear4ound Fw8ramo)¢'. the bey in arts attd family perfi)rniance. Arts ptrti¢ipaiLOrt. ¢ulbJAJ tducation andovtreach work for its cornmunity and the art53ector. Our mi5s¢oD isio r¢8¢h every family in Barnet with a creative art% expericnce by 2026. artsdepot is committ¢d to prwding wvices forthe rtsHletits ofthe London BcY(wgh of Bamet and beyd. specifieally thin nehUThng cotDmunitie$ in Brenl Camdto and EnfJ¢ld. Thes¢ rtsid¢nts ¢urrtytly m&¢ up th¢ ¢ore ys¢rs of artsdepoL through allendinE performance4 Cl, courses, Ivorkshops and new OPPmThiEies for participation. Artsd¢w is homt 10 Lon&)n Studio Centrt. a orni1n8 aTts highcreducation rKovidcr and holl5es 20clLses and courscs each week. Ourtwo theatres show the be# of music. comedy. danrt. plays and sw>ken WOTd. W¢ have a wide rnnge of participaELOn activitie5 including onytr Mallntt LwKh club% awid¢ nnge of(estjYals Lil OUT building b¢yort and off- sitt falls prevention thmugh dance wor Currendy artsd¢pot is the mwn ans offeT within Bamei and the otLly ptrforman¢evtnue that is art Arts Countil England National Portfolio Org3ni5ation. W¢ hav¢ a thriv¢n8 liydevelopmertt progr¥mme. We also provide aperfomian¢e venue forBarnet sch13 Music and Dance Festivals CorAm Shakespeare sch¢1 National Theatre Connections and other p¢rforming art5 xhool& A founder member of Future Art5 Centre& artsdtpo¢ often WOTks irt¢ollthration other centresio reseaxch amd support them lo access partnerships and fundin& Our curttni stre8i¢ objeciives art," artsdepot as adestination artsdepoE &8 ati arts leader artsd¢ xrDss the Ix)DJugh Page 2
THE ARTS DEPOT TRUST LIMITED IREGISTERED NUMBE. OJ536243} Report of th¢ Trnst¢tS for the I S¢ptembtr 20111• 31 M•r¢h 2023 ACHIEVEMENT AND PERFORMANCE The Dire¢tOTS decided to 1g artsdepot'$ fJnancia] year end to of other organisalions in the sector and to enable ease of reporting io Ans Council England, who wuire budgets io be sei on an April 10 March financial period. Therefore, the financial y¢arwas shortened to a 7-month endin8 3 l March 2023 and this report rcprcsents this shoner period. During this period the senior leadership underwent ¢hange$ following the fftirement of the outgoirtg Finance and Operations Dirtttor. Two new posts were created, Head of Finance and HeJJ of Operations. bringing extrd capacity to artsdepoi's leadership and specific expertise. This h&$ been invaluable a% we continue to navigate through the ongoing challenges of high infiaiion. rise in energy costs and inCred cost of living. A$ with many other organisaiions this has ¢reat¢d a challenging environmeni for Artsdepot to OP¢T in and we ¢ still seeing the long-terni effecL8 of this we mov¢ ioto the new year. It is wonderful io sec audiences and participants return ¢0 the building and engaging in the programme of community eveD¢S and livr pcrformanr¢$. How¢vrr, audien¢¢ levels Ixave #ill noi retumed to pre¥patemiC levels, which is in line with the experience of theatres and eultwal venue5 across ihe UK. We have supported audiences to return in a nurnb¢r of ways, for example loweriThg ticka price& offering a wi(kr ranLTe of multibuy discounted shows and PToviding redu¢¢d price tickets for local schools and community groups. We bclieye organi5ation5 such zs art5dcpot are vital than ever during these diffic11 times and we art proud of all we have achieved in the period, iocluding free facilities and ev¢nty SUPFrt)n for artist% our work with people of all ages and back8munds. local partnerships, and Olhr dedicared and commilled team OUT a¢iivilies irt the 7 monih period Sepiember2022 10 M8r¢h 2023 in¢luded= 246 tickelcd events 42.519 tickets stsld with art averag¢ ti¢kd ryi¢e of £14.51 10,118 an¢t)dan¢es ai fwivals, exhibitions & ivorkthops 2 free family festiv$, 2 frtt exhibiiions, 5 free music eveThts 10 young people with special educ*ional n¢th twk part in our WOTk experi¢n¢e progromme 315 free or sub5idised tickets from ourA¢¢¢ss Fund through lo¢ai ¢horilies artd s¢hools ,000 visitors over 6 months Artists placed in 7 Bamet %hools in¢luding primary, secow, SEN artd the Paviliort PRU Programming Highlights Michael Palin From North Korea into lrnq- Warm Up.. Mopty Python legend aDd intrepid globetrotter Michael Palin brought tal¢$ of iwo of the mosi <xtnoidinary jourD¢ys he's ever made io our Peniland Theatre in a Wam) Up production teIng hLS material for a neiv tour. The show Vds warnlly received and sold out over 2 perfoanceS welcoming 790 guests. Mic1e1 Palinpw on a greol show @artsdeprt nig. 79ar5 tsldandsidl ielling a very er4eriainÉng iole. @LouiseLwkie on Tivitter My Voice Was Heard But Was Ignorcd: Following ¥ eSsful run ai the Edinburgh Fring¢ Festival Red Ladder Theatr¢ Cornpany broughi yipping identity play MY VOICE WAS HEARD Btrr IT WAS IGNORED by wriier Nana-Kofi Kufuor to our Siudio Theatre. The play raises urgeni qu&silot aboui rdciaj identity and Black British exp¢rien¢e. During Febtuary 2023 we welcomed 41 adults for l-"m Muslamic Don't Panic from Boback Champion, 288 for comedian Simon Brodkin, aThd over 3,IXK) family visitors for Half Tenn sho13 The Singing Mermaid. The Snow Beast and The Piin¢ess and The Frog. Pa8t 3
THE ARTS DEPOT TRUST LIMITED (REGISTERED NUMBER: 03536243) Report of the TTh5tees for Ihe period I September 2022 to 31 Mrth 2023 ACHIEVEMENT AND PERFORMANCE...toDtin#ed Over 500 people a¢ded our free Fun Pala¢es festival on Sunday 2 Oaober, enjoying arts and science activitTres togdher including explotln8 the s¢i¢nr¢ of sound and creaiing athd laun¢hing rockets. (kn the sam¢ dayl a fvrthcr 50 0p]e aged 6(FF enjoyed craft aciiviti¢s over a cup of lea at our Silver Sunday event. We also w¢l¢om¢d people 10 The Big Drnw ott Friday 28 (kbe1, tsking part in drawing, arts and ¢nfts workshops across the buildin8. "Re¢3llyÉryoyoble Evenifor boih ry doughier (neorty 3) tthdJTts. GrEIr boih to be tsble io particwats andcreoie togeiher~ Feedbxk fr(Nn The Bi8 Draw attendet. Enclosed in Publi¢ was a performance #rt exhibition Nnning in OUT Apthorp Gallery. The work CTeaied by Natalie Sloa explore5 the lives of those living in Isol10, their drtams, &%piniiot)s and traum&s. This woject w&$ cot)ceived followithg ihe Covid-19 lockdown5. a time where ive all exrKriencd elements of i501atitsn. However as freedoms return. many peopl¢ r¢mait) isolat¢d through illness or ¢ir¢umstan¢e. Enclosed in Public lg5 awareness to ihese Teaiiiie5, a reminder that freedom isnl universal. The piece funded by The City Bridge Trust and devtloped with communities experiencing i501atLOn. Continuing our commitment to support lo¢al artists in Autymn 2022 w¢ launched an ans and ¢rafts winiet showcase profiling the work of14 l¢xal arti5ts- a launch event welcomed 50 vi5tiors including 6 young people from Friem Barnet Inclusion Hub whose p)etry was included in the exhibition-4 of the young people did a spoken word performance. .1 j1 wanied ¢0 soy ihtsnkyoufor I[10y18 iopui ih¢ ukibilion. I've neVerP thy ¢tri-work trpforpeop lo see andii was exciiing experiencelor me io see my ari on ihe wolll Tlwnkyou 08aSn ' MaTch 2023 began with com¢4ian Eshaan Akb¥ inviling audi¢nces to his show Th¢ Pr¢i¢nd¢r to bring donaii¢)n5 for Fin¢hl¢y Food Bank to hi5 501d out p¢rforman£e. The Show asked.. Whethcr ji'5 vou. the person you go on a date ivith, your boss, or the opinion-makers on TV. we'r¢ all prdendirtg we know wh8L w¢'r¢ doing. W¢ don'i. And it's about time we all had a propu laugh about it. London Studio Centre's 'Moonli8ht Cabaret Club, was created by graduaiing sNdet)is of LSC'S MA Producing Course. Students led on every asped of the producli¢Jn including desi. markctin& iechniol. ¢horeography aTrJ attracted a paying audience of187 guests. Artist r¢sid¢nti¢s & $upport Over ihis 7 month period we supported 14 artist residencies in¢luding projects by M&sie N¢1)n, Ben Osborn. Elana Binysh. Stroud and Notes, In Her Sirength. Clu5terFIx. GefrTone Lauren Phillip5 & Paul Barnes, Kill the Cal Theatre. Blackhorse tioadshow, Paper Smoken Theatre Company. Nearlv There Yet, Jessica Millward & Nat&tha Brotherdile Smith, Emma Brand. Bullyache, June Yuen Ting. Victoria Brigg5 & Fi15kit Theatre Cofflpany. We were fortunate to work with artists who Iwked al mental health trdum< multidisciplinary afis and a new drag show foryoung audi¢n¢es. We worked with Sir¢)ud & Note5 making Public The Musical which prcviewcd at arrsdepot before presenting their hit- show at th¢ Edinburgh FestiV3J. Styoud & Notes developed meriaJ for Publi¢ The Musical over weeks io our Cr¢ation Space. a ont hour real-time 510ry about four very differeni Mrdngers who gei siuck in a gend¢r-neutral public toil¢t. Public is a musical aly)ut understanding difference, tolerance and laughitt, Ihirtgs Strotsd & Notes believe we all Theed in lift. The show a big hit in Edinburgh receiving numerou5 5 and 4 5rar aivards and highly P05Ltive ¢ommtntsry in The Guardian online. theatreweekly. and WhatsOnStag¢. Further detlS of ail the artists and projects we supported art available on our websrte." www.artsdepot.co.u We coniinued our wogTamm¢ of arti deVel0FenI over this period. Paze 4
THE ARTS DEPOT TRUST LIMITED IREGISTERED NUMBER: 03536243) Report of ibt Trn5ttt5 for the ptriod I September 21122 ts 31 Mrtb 2023 ACHIEVEMENT AND PERFORMANCE...¢otttill¢d Community tngagement Futur¢ Cities- Autumn schotsls TO mme and exhibition We worked with 135 children and young people pla¢ing desigrjers artd artists with a specialism in the built environment and sustainabiliry its¢0 Mapledoivn SEN S¢hool, Akiva and Clwemoftt Primary Schools, Hendon & Brampton Seconda Schools. Over 15 workshops partieipants learned aboui the environmenial impact from arthitecture and building- and then conceived ide&s to re501ve challenge5 an)und wiThd and power in the built envir(pnm¢nt whi¢b were imagined into exhibition pietts crrdt¢d from rxycl¢d materials. Thc Futur¢ Cities exhibition in our8]ery during a period when our venue footfall was around li,(KX). e've never done tsptyihinglthe ihis ai school before. li wéu brilliantaKdreallv makesytw ihink aboui ilw worldaroup you,. 12 young people iviih learning disabilities joined us in Autumn 2022 for a 10 week group leamir)g programme providing insight into ihe ¢atIve industrie5. The sessions were deliv¢Tcd one day per wrtk and the young people completed Art5 Award folders identifying their arts heroes artd then each delivered a leadership workshop. I I participants earned a Bronz¢ Arts Award and othe earned a Gold Arts Award. Two of the young people weni on to independent work placemenrs. OscaJ Elli5 Wlth FaceFroni There and Sophie GibiKins with Chi¢kenshed Thearre. Oscar had a great time and went on to present a solo exhibiiiort of his artwork at arLsdepot which featsred in a local ncwspapcr. Sophie has been offered a p¢m)anent volunieerin8 role with Chickenshed Theatre. Ukrninian Film S¢reenio & Chtldr¢rt's Partv 46 attendees came 10 the screening of Foxier & MaY-'A Iru5fTated pre-teen di0Ver5 that the graffiti dog he painied has come to life in the form of ultra•inielligeni supeT-do8'. 6 children allended ihe Ukrdinian Children's party-90 minuies of and games for childr¢n aged 4-7. Thanks ts) the Ukrainian Sawrday School based at All Saints Piimary for brin8ing their 8roup and sharing infoatiOn and for Barnci Cwnciv Young Barn¢t Fowidatiort for furtdin8. atinee Lurtch ven Over ihis period ive presented 3 of thc5c events welcoming 217 older people & their wets referred by local care providers including Dell Field Court, Magnolia Court, Mtadowside, The Benv & A5her Loftus Centre {Jcwi5h Care). St Albans Thursday Club, Friend$ In Need Communiry Centre. The Lime5 Residentiaj Care Holne, Minchenden A¢ibvities, Memory Lane & the Wellbeing Team, and Jesus Hospital Charity. Artists iD¢lud¢d ALhdr¢y Heartburn & London'5 Finest FlappcT5, Splitmilk DaDC¢, Jonathon Brernner, Hoi Swing Bohème and The Swingster5 'Th ihefwsl lime been oui ofihe hOe in aweel oryll'we Ibgdo lo¥ly lime. 'Plet35E lei us know as soon as en(sOes sole,. 'hVé COA'I woiifor 0fr.. 'ThoKkyou so muck ihi5 has been so special.. In ¢(pllaboration with Black Books Matter, we presented two fret events on Wednesday 26 OctobEr. 20 young people aged 8- 1 I look part in a 3 hour Creaiive Storytelling Workshop. taking inspiraiiort from the book Sade and her Shadoiv Beasts, by British-Nigeriart author Rachel Faturoti, and crIng their magical worlds. In the evening.- 20 people attended a Publishing Q&A session and a spoken Word open rnic event celebrlg lool young and ¢m¢rging poets. Both events were in celebration of Black Hi510ry Month and fwided by th¢ London Borough of BameL Pa8e 5
THE ARTS DEPOT TRUST LIMED {REGIERED NUMBER: 03536243>
Rep)rt of the Trv5tet5
for the peTiod I Stptethber 2022 to 31 Martb 2023
ACHJEVEMENT AND PERFORMANCE...untinued
We were delighicd to ivelcom¢ bxk fonnrr and n¢w membErs to th¢ post0Vid r¢lauD¢h of our over 60,5 rreativc
writkn8 group- Creative Cir¢le. The group is led by Bunmi Ogunsiji- a publithed and mulii award•winning outhor who
h&5 run creaiive WTiiing sessions for Spread The Word. Greenwich Maritime Museum, Westminsier Mind and others.
'I'dgol inio a siuy oi home nii where Iwos quiie had looknng ofier myselfondespeciolly my oppearance, joining ihe
ew Creotrye Circle group h475 helpedme break oui ofikni. Ireally enjoygoingfor coffee uftenvards, I rarely tal or
drink oulside osh0, Parti¢ipat)L
Our Fe51ive Food & Fun appe41 raised a staggtring £8.785, enabling u5 10 provide 80 festive food hampEr5 With ti¢ket
vouchers via Finchley Food Bank- and 5 fTee places on OUT Inclusive Summer Camp. Many thanks to Bamet Collncil
and The Childhood Trnst who provided £4,000 in match bJThlin
A REALL YBIG THAIVK Youfor Ihelaniosiie Ckrifimos bogs deliverediodayl Con't wali io se£ oll ik delighted
face$l'
Over December we welcomed 8,487 rthple for The Smeds and the Smoos and 1.052 for rAJr xces5ible Stydio Theatre
show SThow. Donaiions from our member5 and audiences funded 268 free iickets including groups attending from
referral partslers Rays of Sunshine (for children wth life lirniting conditions). Barnet FOtr CareTS Asso¢iaiion,
Healthprom (refugee families), London Bomugh of Barnei's Children's Centre {looked after children, those with
disabilities) and vicfA (people with sighi irnpairm¢nts).
My daughier gol so much oul cfTr ihe oudio descrwionondihey both lovedihe iouch iour. IhanLtfor being so
con¥idÉraie'
We supported ihe West Hendon Community Hub to present a multi frdith and culre festive evenT in December 2022
providing artists. refreshments and reaching out io 1.177 contscrs from NW9 and NW4 p05tcodes from our database.
The ev¢nl aimEd io introduce 0P1¢ who may not be ¢ng4ging in Iwal cultural ariivili¢5 5UPWrtiDg so¢i31 cohesion
followin8 a major red¢v¢lokm)ent of lh¢ ¥e
Over jAnU and February 2023 we wer¢ fund¢d bv thc Barn¢t Community Fund to k¢¢p our doors opez) and aling on
11 blast SO that local people could hang oui ond May ivam). In addition io a wami welcome we also 8ave away Ily)
blankets, 100 flasks and l(KJ food parcel
Febnwy 2023 we launched 3 new monthly events inCr1ft8 our audierKe en8a8ement offer foradult5 and the wider
cornmunity. Our fJr5t gaminLY night alted 38 attend5 with 20+ b
THE ARTS DEPOT TRUST LIMITED (REGISTERED IYUMBER: 03536243) Report of the Trn5te¢s for Ihe period I Septeber 2022 31 Mxrth 2023 ACHIEVEMENT AND PERFORMANCE...tO•lillu¢d Barth¢t & Cultur¢ for yfjth (B&CY) Artsdep<pt provides the secrdariat for B&CY brinKiThg together 120 arts and edu¢ion providers from acros5 Barnet behind the mis5ion.io provide a rich cultural cducalion every ¢hild artd young person in Barnct., On the 3rd November 2022 B&CY held a launch eveni ai the RAF Museum promoting a Cultural Education Straieéy for BarncL Over 2(X) people ¢Thjoyed aNendiThg perfonnance5 by a youth inlcr-faith choir. yout)g people from Oak tA)dge SEN school- ar)d a Q&A on creativity in education led by onc of B&CYs Youth Advocates. The Sirategy 5et5 an ambition that by 2027 every school in Barnet has an annual artists residency and every ¢hild h&s acce55 10 a range of Creative learning opportwiitiek Developell¢ The perithl followed a relaunch of our Simplified rnernbership offer wtih 22 new memFrs joining in September 2022 to purchw priority booking tickets for Michael Palin's Wam) Up show. We se¢ured a wide range of 8ranLS and don10% of different scalc5 and would like to expws our thank5 to all our supporters including.. A New Dtrection l ArLS Council England l Backstage TnLSt I City Bridge Trust The Childhood Tru511 The D'oyly Carte Charitable l Fnncis Winham FouThdatioTh Friern Barnet Edu¢ation31 Trust l Jesus Hospitsl Chan"ty l John Horniman's Children's Tru John Lyon's Charity l The John Thaw Foundation l London Bortsugh of Bamet Maria Marina FoUndlOn l The National Lottery Community Fund l Ove Antsp Foundation Pentland Brnnds Pl¢ / Red Hill Tnjy lThe Sobell Foundaiion I Souier Charlble Trusr Waiirose Community Mallers l YouThg Bamet FOUndlOn Many thanks to our TTusiees, Membe. campaign sup[¢[$ & ticket donor& ATrdrEas Zollmann. Jonathan Be¢$io Rolanda Hyams. Jeat)ett¢ Adak, Joan FoKel and Martin Norw¢)od. FINANCIAL REVIEW At thc end of March 2023 there was an unr¢wi¢t¢d deficii of £267.749(2022.. £65.508 defk¢it). This peri1 was part of Ihe planned deficit 88reed by Trkwees whereby de5ignaied fvnds ld reKrYes would be uiilis¢d to ensure artsdepot coniinued to provide a full range ofa¢iivilies to supFx)rt the community following Covid. despite reduccd in¢ome. The ongoing effects of high inf]ation, high eTher costs and the cost of living ¢TiSiS m¢ans circum5tsnces remaiTh financially challenging for art5depot. This is in common i¥ith its ans se¢tor colleague5 acTOSS England and Wale5 and the year to March 2024 is also likely to result in on unrestticted deficit &$ ive naVIge these chall¢nges_ This 1$ ihe se¢ond of vo yeaTS planned deficit work is ongoing io ensure a breakeven result in the following ye8r. At the end of March 2023 artsdepoi had three types of fiJn&5: UnreriCted and unde51ted funds of £272.082 (2022.. £539.697) Desienaied tunds toward5 venue and business development £212.744 {2022-. £212,878) Re5tricied funds towards Arts Education & Particiwion and ArtiSli¢ Development £125.745 (2022.. £145.866) Page 7
THE ARTS DEPOT TRUST LIMITED {REGISTERED NiJMBER: 035362431 Report of the Trustee5 for the ptT6od I Septrmber 2022 to 31 Mreh 21123 FINANCIAL REVIEW...eotityu¢d Re5ery¢5 poliey Trusiees reserves policy aims to maintain and balance firclaI stability with investment in opportunities likely to fi]rther ansd¢tM)t's mission. artsdcpot aims to build and mainrain free and desi8naitd unre5triCted reseThes equivalent to at le&st 10 wttks 0ratIng costs or £400.000 th provide some proie¢tion against losses due to reductions in key income sources. adapt io external change8 m¢eL working ¢apitsl requlremert artd ¢nable artiSii¢ and ¢apital inv¢stm¢ri¢. Free and Designated unrestricted reserves at the erMI of March 2023 were £486.826 (2022: £752.575). Unr¢stri¢ted and undesignad reserves at the end of March 2023 were £272.082 {2022= £539.697) of which £179,597 {2022.. £458,280) represented free reserves. FUTURE PLANS AND ACTIVITIES Record inflation in 2023 exacerbated the cost of living crisis and this will present further ecorKmic challenges for audiences and organisaiions in 2023124 ptyrti¢ulaTly as a number of grants remained at PTe-Covid levels. Our fll$ will continue io be providin£ high quality performatlces and cre1Ve experiences at a reasortable cost for wr communities, ensuring that our multi-art fonn offer continues in the building and beyond. Over the nexi three years artsdepot aims to incRase its reach to half th¢ population of BarJ*t through a combinaiion of greater audience5 and offers wiihin ihe buildine and furtheroffsiie activitie5 in partnership ivith or8anisaiions across the Borou8h. We have ex¢iiing plans to refurbish Ind develop our buildbng ¢)nce the let%e 15 agreed and we are able t4) apply for capital inv¢simeni. We interMI to groiv ¢JJr offer for 011 age ranges but parti¢ulaTly adults. Thi5 ha5 already bccn demonstrnted in our programming for Auiumn 2023 and we will coniinue (o build upoo this. W¢ hav¢ expand¢d our offer io include spoken word a[ gaming nights and we have plans to diversify our music. theatre and comedy offer as well as looking for new and exci¢ing ways to engage with audiences of all ages and backgrounds. A5 digita] aciivities become the norm, we will investigate tkw ways of allowing atyJience5 to curate their OWlL experiences and focus on theirown conitsi ¢reaiion. Should funding allow we will seek to produce our own work for touriThg. We remain ¢ommilted io expanding the workforce in the arts by pmidingwork experiert¢e fot disabled young people and participating in progrdmmes io iThcre diversiry aThd inclusion. We will expand our food and beverage offer including a new café on th¢ ground floor, increa%ing visibility and footfall. and generating additional income io sUp[rt our cllarirable Ivork. We will work with all involved to develop a placemakin8 approach which includes the abilitv to Show work outside atml itt our venue. Our divetsilv and inclusion plan will 5cc us incr&35ingly reflcct communities in our borough through our workforce and Ihe offer io our communities and ensur¢ w¢ are accessible io both with our oTh$iie and tsffsite programmes. Page 8
THE ARTS DEPOT TRUST LIMITED IREGISTERED NUMBER: 03536243) Report of tbe Trn51tt5 for tht p¢riod I Stpternber2O22 to 31 Mrtk 2023 FUTURE PLANS AND ACTIVITIES...tontiDved Environmental su51ainability continue5 to be a key feamre in 2023124. Once our new lease is confim)¢d w¢ will apply for Capital funding for eThergy eff)¢ient equipmenL alongside our ¢ontinual efforts to Tedu¢e everyday usage. Our artist development programme will support al le 8 artists or£ompanie5 each year with space and a small bursary. We are seeking to facilits anists to ivork offsLie with communitie5 if this is more appropriate ftsr their projeci whilst they still relain access ¢0 the Menlg support at artsdepoL Barne¢ and Cultu1¢ for Youth {B&CYI remairts a key commiunent for art5dcpot. ILS 5-year 51Trtegy launched irt November 2022 and fvlfilling the plan5 ¢onthined within (tinu¢S its be a Priority. STRucfuRE. COVERNANCE Af4D MANACEMENT Strudre govtrnthtt and mngtmeDt The Arts Depot Trust Limited is governed by Memorandurn and Articles of As9)ciation incorpornted on 27 March 1998 and amended by 5peciaJ resolutions d*ed 21 Sepiember 2(1)0, 25 July 2(X)1, 29 JUIY 2004 and 22 September 2008. Trustees are also the director5 and members of The Arts Depoi Tru# Limiied. The Board of Trustee5 meet four rhme5 a year and is curreThtly composed of 12 membeT5 wth ¢xperien¢¢ and skills in arts managemenL flnance, business d¢velopmenL HIL itiforni¥¢ion te¢hrtolo8y. legal, manag¢meni consultancy. Marketing and PR. Observers from Arts Council Et)gland attend meeiin%$. A financ¢ SU0Mmittee m¢¢ts quarterly review financia] perfonnance. budgets, human resource. legal. OPCTa¢ional and audit matters. Tru$iees $0 suppon wlicy development in artimic. community acce55 and developtneni xtivitie$ on a ¢onsuli•ive b&%is. The Board of Trustees cart be composed of a minimum of 4 and m&ximum of 20 members. Neiv iru5tee5 are appointed with reference ¢0 ihe Skil experienc¢ and divetsity of The Board ai th¢ lime. A combination of internal and external networks are used in recruiling new InetS. who May up to two con5¢CUtive three-year terms. All new tntstees undergo a full induciion which ¢ovus aTtsdeFrf5 governance in¢ludin8.' Trtee role and resportsibilities" financial position,. funding and aciivities,. organilOnl Strxtwe and peTsonThel. strttegic plans" main pathers and relationships and tnislee trdining and d¢velopmenL The Chief Executive is rcspon5ible for the strate¢pic and day-¢daV manwmetst of artsdepoi including the content of the artistlc Programme and is supported by a rnanagemeni team which includes a Director of Programming. Developmeni Dire¢Lor. Head of Finance and Head of oplon% The rhatity h&s a wholly owned subsidiary, Arts DeFKJi Prnduaions Limited, which was emablished in October 2004. Its principal activiiie5 are the provisitsn of artiMic and other acrtviiies. results have been consolidatrd in ihese a¢¢ounLS. Risk rnanagtment The trustecs have a duty to idcntify ond rtvivv the risks to whith the charity is expos and to ensure appropriate controls are in pla¢e io provide reasonabl¢ assuranee again# fraud atyj error. Page 9
THE ARTS DEPOT TRUST LIMITED IRECISTERED NUMBEIL. 03536243} Rtport of tht Trusttts f•r tht period I Stpt¢mb¢r 2022 to 31 Mr¢k 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees {who are also the directors of The Arts Dcpot Trust Lirniied for the purpose5 of company law) art responsible for preparing the Repori of the Tntee$ and ihe finaThcial swements in ac¢oTdan¢e with applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally AccePd Accoyn¢ing Prnc¢i¢¢). Company law r¢quires the trustees to prtpare financial sratements for each financial year ivhieh 8ive a thje and fair view of the State of affr$ of th¢ charitabl¢ ¢ompanv artd of the incoming rewJrce5and application of resources. including the income and expenditure, of the charitable company for that period. In prwxing th0 flnamcial staiement5. the tru5tee5 are required select suitsble accountin8 poli¢ies and then appty theTn Consistently. observe the methods and principles in the Charity SORP. make judgements and e5timaks ihai are reasonable and pNd¢nL prepare th¢ finan¢ial staiem¢n¢SOn the goingconcern ba5isunle&4ii is inapproprieto pr¢sume th¥tthedJaritable company will coniinue in business. The Irusrees ate responsible for keeping prr accountine records which discl(v with reasonable accuracy anv ttme the rmancial position of th¢ ¢haritable Company and to enablt them io ensure that the financial sraiements comply wxth the Companies Act 2006. They are also resw)n$ible for safeguarding the as5cts of the tharitsblc cornpany and hcncc for ¢aking reasonable 5tep5 for the preveniion and detr¢tion of frnud a]]d other irregulaTiii¢ In 50 far the trustees are aware.. there is no relevant audit infonnaiion of which the ¢h¥itrble ¢ompanYs audiiots ase unawaTe,' and the trustees hav¢ takeo a]1 steps ihat they ought io have taken w make themselves aware of any relevani audit infom)ation and to establish that (he auditors are aware of ¢hat infOalLOn. AUDITORS The auditors. Xeinadin Auditing, will be wJpo*d for re4ppointment at the forthcoming Annual Gcncral M¢etiDg. Approved by order of the boord of trustees on...2W12r2023...................._........ and signed on it5 behalf by: S Mustafa- Tse Page 10
Report of th¢ Irtdtpendent Audiitrrs i• the Mtthbtrs ot Th¢ Arts Depot Trust IArnited (Rtgisttred TrMber: 035362431 OpiDIOII We have audited the financial staiements of The Arts D¢w Trust Limited {the '¢haritable company) for the period ended 31 Mareh 2023 whi¢h compri5¢ thc Consolidated Statement of Financial Aciivities, tht Group and Company Balance Sheet. the Consolidated Cash Flow Statement and ftoies io the ftnancial statement5, incILTrding a summary of significani accounting policies. The fLnanciAI Teporting framework thai has been applied in their preparation is applicable law and Uniied Kingdorn Accounting SthndaTds (United Kingdom GcneTa]ly A¢¢epd Attouniing Prnai¢¢). In our opinion the financial ststements.. give a true and fair vitiv of the Statc of the charitable companrfs and charitable gTOUWJ affairs as ai 31 March 2023 and of its incoming resour¢es and application of resources, inclllding its income ortd expendIr< for th¢ peri(xl then ended. hav¢ b¢¢n prorIY prepared in a¢eordanc¢ with Uniied Kingdom Genetally Accepd Accounting Practice. and have been prepared in (OrdanCe with the Tequir¢men15 of the Compamie5 Act 2(KJ6. Basi$ ftsr opinio# We conduaed our audit in acrdanCe wilh International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our re5ponsibiliiies under those 5thndards are fither described in the Auditors, resp)nsibilities for the audit of the financial swements se¢iion of our reFN)rt. We are independent of the charitable compaThw and charitsble group in accordance with the ethical requirements thar are relevant to our audii of the financial statemt5 in the UK. including the FRC'S Ethical Stsndard, and we have fulfilled our other tthirdl rcsponsibilities in accordance with these requirements. We believe lh the audit evidence we have obtained 15 sufficient and appropriat¢ io tmvide a b&sis for our opinion. concl510115 rel4ting to going con¢eTn In allditing ihe financial siaiements, we have concluded th¢ ffiLYttS' we of ihe going concern b15 of accounting in the preparation of the financial statements is appropriale. Bwd on the work we have perfornied, we havc not idEntified any material uncenaintie5 lating to events or wnditions that, individually OT collcctiyely. may casi significant doubt ort the chariiable company and charitable groups ability to continue &$ o going concern for a period of ai least Thvelve monrhs from whert the financial statements art auihorised for issue. Our resportsibiliti¢s and the responsibiliiies of the tnLoees with r¢spectW 80in8 concern are described in the relcvant sertions of this report. Othtr &llfornkgtkoD The tru5tces art responsible forthe oth¢T infornatson. The other infomiation ¢omprises the inforn)ion in¢lud¢d intheAnnual Report, other than the financial $tatemenLS and our Report of the Indeptndtni Auditors thcreon. OUT opinion on the firtancial sthternevts does noi cover the other iriforniation and, except to the extent oihenvise explicitly slated in our repon. we do not e.xpr¢ss any forn) of assurance conelusion thereon. In connection wilh our audit of the financial sthtements. our restKJnsibility is to read the othtt infonnation and, in doing so, eon5ider whether the other infonnarion is materiallv inconsistent with the finanrial siernents OT our knowledge obtained in the audit QT Otherwise app¢ar5 to br materially misstad. If we identify su¢h mat¢Tial iThconsisten¢i¢s QT apparent maieriaj misstaL¢meni8 we are required to deknnine whether thi5 gives rise to a material mis51atement the flnancial 5tatcm¢nts themselve5. If, bad on the work we have rfOrn¢d. we ronclude that thcre is a Materi mi55taterneTht of this oiher infomation, w¢ required io Tepon fa. We have nothing io repr)rt in regard. OpiDitsn$ on oth¢r tt)tters prescrib¢d by lh¢ C•mpAnies A¢1 2006 ID our opinion, bd on the work undertaken in the course of ihe audil.. the infomation given in the Rcport of the TTuMe¢s forthe financiJJ vear foi which th¢ fInela) siatemettts are prepared is consisieni with ihe flnancial #atements. and the Report of the Trusi¢¢s has been pr¢por¢d in ordance with applicoble legal wuiremeÈ)ts. Pa8ell
Report of the IDdepeDdeDt Auditors to the Methbtrs of The Arts Depot Trust Llmited (ReEi5tered mumber: 03536243) Matter5 OD wbich we are Mq•irtd tg report by txteptioo In th¢ lighi of th¢ knowledge and under513nding of ihe chariiable companv and charirable gTOUP and its environment ob¢ained in the COUTS¢ of the audit. we have nol identifjed material missratements in the Report olthe Tn1Ce We have nothing to report in resrrtt of the followine matters whve the Companies Ac¢ 2C requires us to rwrt to you if, in our opinion= adequate accounting re¢ords have not been kept or returns •Jcquate for our audii have Fen rtt¢ived fr(pm bran¢h¢5 not VLSlted by u5,. or the finanGial 5tat¢ments are not in aereement with the accoLmiit)g records and rUmS. or certain diselos¥ies of truees' remuneratitsn specified by laiv are noi m" or we have not rtctived all the infotmatiort and ¢xplanaiions w¢ rwuire for our audit- or the trustees were not entiiled to tske advantage of th¢ sma]1 ¢omponies exempiion from the requirement io prepare a Strategic Report or in prepIng the Rert of the Trusttts. Responsibilities oftrnsttes As explained more fully in the Starement ofTnL%tees' ResrM)nsibiliiie4 ihe tnLStees (whriareals0th¢ direuors of the ¢hariiable company and charitabl¢ group forth¢ purposesoftompany law) are responsible forihe prepardtion of the financial 5ratements and for being saiisfjed ihat thev give a true and fair viuv, and for Sh in¢¢rnal rontrol a5 th¢ trust¢e5 d¢M)In¢ 15 nec¢55ary to enable th¢ preparation of financial stemeNts that art fr¢¢ fiDm mat¢rio1 misstatemetti. whether due to frd or error. In preparing the fjnancial ststem¢nt8 the truyees are r¢sp)rJsible for assessing the ¢haritsbl¢ company and ¢haritsble groups abiliry io Continue as a going conttrn. disclosing, &$ applicable, maliers relaitd 10 80in8 COt)cern and using the going concern basis of aecotsntirtg unless the tntstees either intend io liquidate ihe charitable company or to cease operations, or have no realistic alternative bui to do so. PaKe 12
R¢kWrt of the Indeptlld¢•t Atyditors to tbe Members of The Arts D¢pot TnLSt limited IRegi%ter¢d number. 035362431 Our responsibilities for the audit Of the finaneial 5titDtuts Our objectives arc to obtsin reasonable assurance about whether the financia] atements &$ a whole are free from material misstatrmenl i¥h¢th¢r du¢ to fraud or errw, athl to issue a ReFM)rt of th¢ lThlep¢nd¢nt Auditors that includes our opinion. Re&sonablc assurance 15 a high level of Urance, but is not a guardne that an audit conducled in actordance with ISAS (UK) will alway5 detect a material mis5taiementwhen li exists. Mi&sratcmcnrs can arise from fraud orerrorand are Considered material if. individually or in the aggTeg&e. they could reonablY be expected to influence the ¢conomi¢ decisions of us¢rs raken on th¢ basis of ihese finan¢ial stsiemenl - Identify and assess the risk of material mi5swemeThi of the financial staiements. whether due to fraud or error. design and perfonn audit procedures responsive to those risks. and obtain audit evidence thai is sufficitht and appropriate to provid¢ a b&sis for our opinion. The risk of noi dete¢¢ing a meTial misstsi¢ment r¢suliin8 from fraud is higher than for one resulting from error. as fr4ud may inYolv¢ ¢ollvsioN ftsTgery, int¢ntiOtwi omissions, misrtpresenwion5 or the override of internal control. - Obtain an understanding of internal Control relevant io ihe audil in order to design audit prwedures ihat are appropriate in th¢ circumstanets, bui not for the pUoSeS of expressing an opinion on the effectivenes5 of tht company'5 internal control. . Evaluate the 8PPTopriateness of accounting policies used and the reasonableness of ac¢out)iing estimates and ihe related disclosures made by the direcior& - Conclude on the appropriateness of the diwe¢tors' use of the going ¢on¢ern basis of acnting and, based on the audit ¢videnc¢ obwned, whether a materia] un¢enainty exists relat¢d io ¢veni or conditions Ihai mav c&st 5ignificanr doubt on the company and charitable grnup's ability io coniinue &5 a going concenL If wc conclude ihat a material uncertainty ¢xi5ts, we are required to draw attention in OUT auditor5 report io the relaicd di%losure in the financial staiemenis or, if such disclosures r¢ inadequaie modify ouropinion. our¢lUsiOnS ar¢ bwd on th¢ audit evidence obthined up to the date of our auditorfs report. However, future events or condiiion5 may cause the company to Ce io continue as a going concern. Evaluate the overall presentstion, strucwre and conieThi of the financial ststements. including the disclosure& 8JLd ivh¢th¢r the financial Statements represent the uThJertying trdnsacuons and evenTS in a maJ)ner ihal achieves fair pr¢sentyiion. A further descripiiort of our respot)sibiliiies for the audit of the flnancial eMents 15 located on the Financial Reporting Council'5 website at www.frc.org.uklauditor5fesF4)nsibilitie5. This description forn$ part of our Report of th¢ Independent Auditor& Ust of Our report This report is made solely io the ¢haritthle comparty's members. as a body, in accordance with Chapter 3 of Pan 16 tsf the Companies Aci 21K)6. Our audit work h&$ been undenaken so that we mighi stare io the charitsble ¢ornpany's membeTS those tnatt¢T5 we are required to s¢aie io them in an auditors. ieport artd for no other purpose. To the fvlles( exieni pennitted by law. w¢ do not accept or assume responsibility to atlyone otherthan the charitablecompany and the charitable companys members as a body, for our audit work, for this Tewrt. or for the opinions we ha*e fOrrn. Haul Day Bsc {Hons) FCA DChA (Senior Ststuw Auditor) for and on behalfof Xeinadin Auditing Chartered A¢¢ountants and Sratutory AudiLOIS BeckeL House 36 Old J¢wry Londot) EC2R 8DD Dt..
THE ARTS DEPOT TRUST LIMITED CoD5ts1idxted StattthÈttt •f Fitt#Lcll Attiyiti for ¢h¢ period I Stpttmbtr 2Q22 to 31 Mareh 2023 Period 1.9.22 to 31.3.23 Total fvnds Year Ended 31.8.22 Total funds Unre5tricTrd Restricted fijnds INCOME AND ENDOWMENTS FROM Donations and legacies 1,533 184.9J2 327,4)2 Cbaritable Attivitits Theatre projects 544.651 141,564 686215 1,236,175 Other trading a¢tivities Inve5tmtnt income Other in¢om¢ 458,401 5.019 458,401 5.019 673.018 903 Tot1 1 191470 1334 567 2 269 069 EXPEf4DITURE ON Eiaising funds Other trading activities 30?79 81.018 30,379 81.018 51.605 108,730 Charitsble activities Theatre ¥thd projects 1347.822 163218 1511040 2.218,557 TotAJ .459.219 163218 l 622 437 2 378 891 Nrf INCOMFJ{EXPENDITURE) (267.749) (20.121) {287.870) (109.823) RECONCILIATION OF FufiDS Totsl futtds brought fonvard 752.575 14i,866 898,441 1.008.264 TOTAL FUNDS CARRIED FORWARD 484.826 12) 745 610571 898,441 The noies form p*¢ of thes¢ finor)¢iai stht¢ments Page 14
THE ARTS DEPOT TRUST LIMrfED OIEGISTERED NUMBER: (13536243) Consolithted BalaJKe Shett 31 M*rtb 2023 2023 Total funds 2022 Total funds Unreyrt¢te4 Restricted fund5 FIXED ASSETS Tangible assets Investments 13 14 84,457 84.457 8.028 92.485 73.389 92,485 81,417 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 3,918 67.884 1032310 3.918 67.884 1580)5 1.229,857 1.726 117,633 17 125745 125,745 1,399,398 CREDITORS Amounts falling due within one year 18 1711,771) (711,7711 (582.374) NET CURRENT ASSETS 392 125745 518086 TOTAL ASSETS LESS CURRENT LIABILITIES 484.826 125.745 610,571 898,441 NET ASSETS 484.826 12) 745 610571 FUNDS Unrestrictd funds Restricted funds 20 484,826 125 745 752.575 145.866 TOTAL FUNDS 610 571 These financial statemtnt$ have been prepared in x¢ordaTKe with ihe provisions applicable to charithle companies subject to the small companies re8ime. The financial statements wrre approved by th¢ Board of Trustees aDd authorised for issu¢ on...20112r2023................. . ............ wer¢ signed on its behalf by: S Musiafa- Trumee The notes forn part of these financial thiements P4¢ 15
THE ARTS DEPOT TRUST LIMITED IREGISTERED NUMBER: 035362431 Charity Bahnrt Sheet 31 M•rtb 2023 2023 Total funds 2022 Total funds Unremricted fund$ ReWied funds FIXED ASSETS Tangible Sets Investments 13 14 75.638 75.638 62.926 83,668 83.668 70.956 CURRENT ASSETS Debiors Cash ai bank and in hand 17 239,9 239,929 259,558 908 067 125 745 752.893 125.745 878,638 ,167,625 CREDITORS Amounts fallin8 due ivithin one year 18 (358.526) (358,526) (346,930) NET CURRErfr A&SETS 125745 520 112 820 695 TOTAL ASSETS LESS CURRENT LIABILITIES 478,035 125.745 603,780 891,651 NET ASSETS 478.035 125 745 891651 FUNDS Unresiricted funds Restricted fund5 20 478,035 125745 745,78) 145 866 TOTAL FUNDS 603.780 891 651 These financial siatements have been prepar in accordan with ihe provisions applicable to ¢hari1oNe companies subject to thc small rompanic5 rcgim Tk financial 5talementswere approv by the Board of Trustees and authori$ for issue on...2011Y2023................................ and w¢r¢ signed on ils behalf by= S Mu51afa- Tn¢¢¢ The neS fom part of thes¢ financial st*emeTh Page 16
THE ARTS DEPOT TRUST LIMITED Csh Flow Sttemtllt for the ptTiod I S¢pttmber 2022 to 31 Manh 2023 Pcriod io 31.3.23 Year Ended 31.8.22 No Cash flows frons optr4tthg *¢tivttt¢s Cath generated from operarion$ 102.661) iO,256 Nei c&sh used in 0rating actLVltie$ 102661) 50,256 Cash Ilows froth inwudtyg arfivltl¢$ Pur¢h8se of tsngibl¢ fjxed &ssets Sale of tan8ible fLxed asseis Interest reccivcd (24,342) (39,691) 903 Nei cash used in invesiing aaiviii¢s 38 788) Changt ljl fash xud ¢•$b t91VI1tts in the r¢porting period Cash and ¢a5h equivalents af the b¢tiDDitig of the reporting ptriod {12l.984) 11,468 1280039 .268,571 Cash and ca5b equiYaleDts at the tid of ¢b¢ reportilll period I 158055 1280 039 The noie5 forn part of these financial swem¢t)ts Page 17
THE ARTS DEPOT TRUST LIMITED Notes to tlhe Cash Flow Stalemtnt for the period I September 2022 to 31 Martb 2023 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATINC AcfiviTIFS Period 1.9.22 io Year Ended 31.8.22 31.3.23 Net txpenditure for the Trportimg period per the Stst¢m¢nt ol Fin*rttiAI Attivities) Adjustments for: Depreciation charges Intere re¢¢ived {IncreaSeYdecre in s¢o¢ks Decrease in debior5 In¢reasel(de¢rease) in crtditoTS (287,870} (109.823) 13,274 (5,0191 (2.1921 49.749 129397 35,393 (903) {1,726) 70.406 Net tasb used in operntio#s 102661) ANALYSIS OF CHANCES IIY NET FUNIYS At 1.9.22 Cash flow At 31.3.23 Net cAsh Cash at bank and in hand 1280 039 121984 1 158055 Totsl 1280 039 121 984 158055 The notes forni pwt of these financial Sthlements Page 18
THE ARTS DEPOT TRUST LIMITED Note5 to the Fi••ncial Statements (or the perb)d I Sept¢tyJbtr 21122 to 31 Mr¢h 1023 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS Th¢ financi swements of thc charitabl¢ company, which is a publi¢ Fnefit entity under FRS 102. have been prepared in a¢mrthce ivith the Charities SORP IFRS 102) 'Accounting and Reporting by Charitie5'. Stat¢m¢nt of Recommended Praaice applicable io charities PTepaTin8 their accounts in aOrdanCe with the Finoncial Reporting Standard applirdble in ihe UK and Republir of Ireland (FRS 102) (effe¢tive l January 2019),, FiJwi¢ial Reporting Stsndard 102 The Financial Reporting SwidaTd applicable ID the UK and Republic of Ireland, and the Companies Aci 2006. The fjnancial wiements have been prepared under the historical cost ¢oThvention. wth the ex¢epiion of invesmients which are included ai market value. PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS The financial statements co]wlidate the results ofthe chariry 2nd itswholly owned subsidiary Arts Depoi Productions Limited on a line-by-line basis. A separate Statcnjenl of Financial A¢tivili¢s and IDcome ond Exp¢ndimre Account for th¢ ¢harity h&q not be¢n prts¢ni¢d because the Charl has taken advantsge of the exempiion afforded by s¢ction 408 of ihe Companie5 Ac(201. CRITICAL ACCOUIYTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In deterniining the canying amounLS of ctnain assets and liabiliii&s. th¢ group and parent chaTity mak¢ assumpiions olthe effects of uncenain funW¢ events on those ets and liabilities at the balance sheet date. The group and parent charity's estimates and wump(ions are based on hisrical exptricrKe and cxpeciations of futtwe events and are Teviewed annually. INCOMINC RESOURCES All in¢tsrning resources are in¢lud¢d irt th¢ Ststemeni of FiDan¢ial Aciivjties when: -the charity is legally eniitled to the funds -any perfonnan¢e ¢onditions attra¢hed io the income have been met or are fully within the ¢ontrol of ihe charity -there is sufficieni certainry that receipt of the income is coNsidered probable -the aThount can be easily mewred -Donations aDd legaties GTant donations are reeognised in ithcoming resources the year in which they are receivable. except as follows.. -when donor5 specify ihat gran donaiions given to the charity must bc used in fuwre accounting pttiods, th¢ income is deferred unlil these periods -when dortors impost conditions which have be fulfilled before the charity becomes entitled to usc such income. the income is deferred amd nor includcd in Trncoming re50urce5 until the prondiTIOnS for use ar¢ mei. -Cbaritable activitie5 Th¢atrc inc¢me - Incom¢ from box otYit4 perfomianrc f¢es and wndry other theatrical income 15 in£ludd in incoming resources in the period in which the Telev1 show tskts place. Project sp¢¢ifi¢ fvndinR- when donors specify thai donations and Rranis are for pani¢ular rewicied purrd>sc5, which do noi amount to prwondiiion5 regarding entitjemeni this income 15 included in incoming X>urE¢S or restricted funds when rrf¢ivable. -[estInent income Interest on filnds held on deposit is in¢luded when reCeiab]e and the amount can be measured reliably by the ¢harity.' this is norn)allv upon nolifjcaiion of the iniere51 paid or payablc bv the bank. -Commenial tradiDt attiyities {of 5ttbsidiaryl Income from cornmer¢ial aciiviiies is included in iTthming ttsources in the period in which the group is entitled to receipi. Page 19 con¢inu¢d...
THE ARTS DEPOT TRUST LIMrrED Notes to the FinD¢il Ststemthts- t•mtinu¢d for iht p¢riod I S¢pt¢mb¢r 2022 ts 31 Marth 2023 ACCOUNTING POLICIES- eontillued EXPENDITURE All ¢xpendi¢ure is included on an b¥is in¢lusiv¢ rif 3Thy VAT which 01 be rttovertd and is re¢o8nised when". -there is a lesal or constructive obligation to make a paymcnt -it is probable that settlemEnt ivill be required -Ihe amount of the obligaiiort Can be measured reliably -costs of raisiDg funds Costs incurred in anrading donations and those in¢urr¢d in rrnding a¢Livities thai raise funds. -Cbaritble atlivities Theatre production costs. ¢OSts incurred in production and n]nningof productions toured in the y¢ar. -support costs The administrative and tsyethtad costs &ss(Kiated with running the office from which the company operas w¢ll as governantt costs. Support Costs are wholly attributsble theatre PTodu¢iiort ¢osts. overnanee t05ts Costs associalEd wilh the con#itulion•l and requirements of the ¢h*ity. TANGIBLE FtXED ASSETS D¢pr¢ciation is providtd ai the following annual rates itt orderto Write off each asset over its eMima¢ed u5efvl life. Long leasehold Theatre equipm¢nt Office cquipmcni over thelsfe of the property lease 33% on cosi 25Y• OTh COA and 20% on co 33% on COSL 25% on a)st and 20% OTh cost Individua] fjxed Isse costing £5Th) or more are capitalised COA. TAXATION The charity i$ exempt fmm Corw>1(L its charktable actlVLiie5. FUND ACCOUNTING Unresiricied funds can be used in accordatKe with the charitable objeciive5 at the dIretIOn of the trustee. Restricted funds can only be used forparticular re51ricted pur$¢5 Wlthin the objects of ihe charity. R¢striclion5 arise when specifjed by the donor OT when funds are raised for Particul restriaed purpos Further explanaiiotk of ihe nature and purpose of each fimd is included in the note5 lo the finan¢ial $terneAts. PENSION COSTS AND OTHER POST-RETJREMENT BENEFITS The ¢h&itsble company operates a defined ¢ontyibu¢ion pensitsn s¢heme. Con¢ribulions pavable to th¢ charitable comparty's pension scheme are charged io the Sthtemeni of Financial Aciiviiies in Ihe period to which they relaic. FINANCIAL INSTRUMENTS The group and parent charity only have financial assds and financial liabilities ofa kind that qualify as blC financial irtS¢rurnenis. Basi¢ financial instruments are initially re¢ognised al transaction value and subsequeThily measured at their s¢ttl¢meni value. Dtbiors Trade aA other debtQTS are recognised ar the 5ettlemenr am¢)uni due after any irade discouni offer. PTepayments are valued at the amount prepaid after taking account of anv trade di5countsdue. Page 20 continued...
THE ARTS DEPOT TRUST LIMITED otes to th¢ FinADtial Statememts- tODliDued for the p¢riod I Septejnber 2022 10 31 Mrtb 2023 ACCOUNTING POLICIES- contiDxd FINANCIAL INSTRUMENTS Cash at bank and in hand Cash ai bank 3nd itl hand includes cath and short terni highly liquid investments with a Short maturity of three months or less from the dale of a¢quisttt¢M or openirtg of the derA>stl or similar account. Creditor5 and provision$ crlI0r$ and provisions are recognised wheff the charity has a PrenI obli8ation resulting from a po#everttthat will probably result in the transfer of funds 10 a third party and the amowit duc io %ttle the obligation cat) be measured or cstimated reliably. Creditors and provisions are nornllY recognised aitheir sett]emetht amount after allowiThg for any trade discounts due. DOP4ATIONS AND LEGACILS Group only Period 1.9.22 io Year ended 31.8.22 31.3.23 Donation$ Gifi aid Grdnts 7.379 778 176 775 9.971 1.630 315,851 184932 327 452 Grants re¢eivd, i[¢d ift the abov< ¥r¢ as follows.. Period 1.9.22 io Year Ended 31.8.22 31.3.23 Ans Council England- NPO fundine Ki¢kstsneJs Grant 176.775 176775 315851 Pag¢21 continued...
THE ARTS DEPOT TRUST LIMITED Note5 to the FiDancial Ststements- continlled for the P¢Tiod I September 2022 to 31 March 2023 OTHER TRADING ACTIVITIES Group ODIY Period to 31.323 Year Ended 31.8.22 Renthl incorne CaL¢ring incom¢ 350.( 108,401 533.160 139 858 458 401 673 018 INVESTMENT If4COME Croup only Period 1.9.22 to 31_3_23 Year Ended 31_8.22 D¢posiL attouni inier 903 INCOME FROM CHARITABLE ACfIVITIES Gr0p only Period 1.9.22 io 31.3.23 Year Ended 31.8.22 Activity Theatrt and projects Theatre and PTojerts Theatre artd pJoj¢tts ProgTainming Hires Grdnt$ 414225 I30.426 567,632 245,642 422901 686215 l 236 175 Grants rtteived. included in the above, are Is follows: Period 1.9.22 to 31.3.23 Year Ended 31.8.22 City Bridge Trust Creative Industhes Insight Piogramme Franci5 Winham Foundation Frien Bamet Educational Tn National Theaire C<)nneciions Festival Ov¢ Anjp Foundaiion The Red Hill Trusi Sobcll Foundation John Lyons Chariry Young Bamei Foundation A Ntrv Dire¢tioTh Rix-Thompson-Rothenberg Foundation Souter Chariiablt Trust C]ed fonvard 23,802 28.333 2,450 28,475 16.667 2,000 2.000 4,480 5.000 2.365 6.140 5,0(M) 11,667 23.334 3,020 22,500 5.000 7,5 3.0(K) 14.841 Page 22 ¢ontiThued...
THE ARTS DEPOT TRUST LIMED Note5 to iht Fi•anci•l Statsw¢nts- t•tIned for the period I Stpt¢mbtr 2022 1• 31 M#r¢h 2Q23 INCOME FROM CHAIUTABLE ACTIVITIES- tontinued Pcriod 1.9.22 io 31.3.23 Year Ended 31.8.22 Brovght fotward Jesus Hospital Chariry John Hornimam's Childrens TTUSt S¢hools project contributions from schwls involved Ans Council England GLA Young Londoners Fund The Amtsld Clark Comrnunity Fund Ashley Familv Foundation D'oyly Carte Charitable Tru London Borough of BaJnei Fall Prtvention Lords Group Foundaiion Young Bamet Summer Show Backstage Tnjst JOI Thaw Fowidation London Borou8h of Barnei West Hendon Community Fc5tbval Award5 for All The Childhcxjd Trust BELS 59.559 3.000 114,840 ,150 3,500 1.200 286,760 3,750 1.000 3.700 1200 3,)0 9.(X)O 10,000 I.()0 1,000 7,800 2.000 135 892 RAISING FUNDS Croup only RAISINC DONATIONS AND LECACIES Period 1.9.22 Ycar Ended 31.8.22 31.3.23 Other fi]ndrdising costs . 51,605 OTHER TRADING ACTIVITIES Period 1.9.22 to 313.23 Year Ended 31.8.22 Caterin8 Costs 81,018 108 730 Aggregate amounts 160335 Page 23 conlinued...
THE ARTS DEPOT TRUST LIMITED Noies io the FiDx•cial StatemeDts- CODtiDued for th¢ p¢riod I Septeb¢r 2022 to 31 M•rrb 2023 CHARrrABLE ACTIVITIES COSTS Croup only Suppon 05t515ee notc 8) Di[1 Costs Totals Theatre and projecls 870 524 640517 1 $11041 SUPPORT COSTS Group only Govemance e05r5 Management Finance Totsls Theatre and projecLS 619526 NET INCOMEI(EXPENDITURE) Group only Nei incomd(expenditure) is swed after chargIn(CredITig)'. Period 1.9.22 to Year Ended il.8.22 31.3.2J Auditor5, remuneration Auditors'"remuncrntion for D¢Jn audit work Depreciation- owned asseLS 6.250 4.500 13.274 5,566 5,750 35.393 io. TRUSTEES, REMUNERATION AND BENEFtrs Group only There were no tru5tees' mUneration or other beThefits for the period endcd 31 Marth 2023 nor for the year ended 31 AguSt 2022. TRUSTEES, EXPENSES There wtre no ITusiees' expeTh%s paid for ihe lod ended 31 March 2023 nor lor the year endrd 31 AuguU 2022. STAFF COSTS Gr0p ODIY 2023 2022 Wages arhd salaries Social sccuriry cos15 Pertsiort ¢o$ts 601,420 49.738 928,431 68,476 1010946 Page 24 contlDll¢d...
THE ARTS DEPOTTRUST LIMITED Notes to the Fi•aneial Statements- eontioutd for the ptriod I September 1022 ts 31 Mirtb 2023 STAFF COSTS- tODlinued Thc average monthly number of employees during the WdS as follow& Period -9.22 io 31.323 13 Year Ended 31.8.22 Trading and Taising funds Th¢atr¢ attd arts centre Atts and education projects 120 125 No employtts received emolwb)enrs in ¢xc¢ss of £60.1. The key maTha8trnent PCT50nnel of the group artd pareni charity ¢ompri5e the Trustees aThd the Senioi Managemeni Team. The total employee berIts of th¢ k¢y management personnel of the charity were £12l.919 (l2 months to 31st Au8USt 2022 £187.2171. 12. COMPARATIVLS FOR THE CONSOLIDATED sfATEMENT OF FINAP4CIAL ACTIVITIES Unrestricied funds Resiricied fvnds To¢al fvnds INCOME AND ENDOWMEfus FROM Donations and lega¢ies 327.273 179 327,4)2 Charitable attivities Theatre and projects Oth¢r tradiDg activities Investment incne Other irt¢ome 1.100.034 673.018 903 136,141 1236,17) 673.Ol8 903 Total 2 132749 136320 2.269 069 EXPENDITURE ON Fundraising coxs 51,605 108,730 51,60) 108.730 Charitabit adiviti Theatr¢ ar proje¢ts 2 037 922 2218557 To¢*l 2 198 257 180.635 2 378 892 NET INCOMEI(EXPENDITURE) {6i,508) 144,31 Sl (109,823) RECONCILIATION OF FUNDS Total funds brought forward 818,083 19),181 I.(8.264 Page 25 ¢onlinued...
THE ARTS DEPOT TRUST LIMITED Notes to the Fina•cial Ststements- eontinutd ror the peTiod I Septembtr 2022 to 31 Marek 2023 12. COMPARATIVES FOR THE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES- Unrestricted nds Restricted funds Total funds TOTAL FUNDS CARRIED FORWARD 752 13. Group TAIYGIBLE FIXED ASSETS Long Icasehold Theatre equipmertt Offic¢ equipmelli Totsls COST At I Seplcmbcr 2022 Addiiions 285.537 108.336 348282 7.457 742,155 24.342 At 31 March 2023 302 422 108.336 355 739 766 497 DEPRECIATION Al I September 2022 Charge (or year 252.699 104,887 735 311.180 668,766 At 31 March 2023 257612 105 622 318,806 682.040 NET BOOK VALiIE Al 31 Marrh 2023 At 31 Aygusi 2022 PAre•t Lo#B Ithold Thearre equipment otTJce equipment Totals COST Al I September 2022 Additions 281.753 26.697 299.856 608.306 24,342 At 31 March 2023 298 638 307313 DEPRECIATION Ai I September 2022 Chxrge for year 248,915 26.335 270.130 545.380 At 31 March 2023 253.8?8 26.546 276,636 557010 NET BOOK VALUE At 31 March 2023 44.810 30.677 75.638 At 31 August 2022 362 29.726 62.926 Pa8e 26 continued...
THE ARTS DEPOT TRUST LIMITED f•r the period I Stpttmb¢r 2022 to 31 mSh 2023 14. Group FIXED ASSET INVESTMENTS UnlIsd inv¢stmet)ts Totals MARKET VALUE At I Sep¢ember 2022 and 31 March 2 8.028 NET BOOKVALUE At 3 l March 2023 At 3 l August 2022 Partmt Shafts in group Unlisted undertakings investtnents Totals MARKET VALUE Ai I Sepiember 2022 and 31 March 2023 8.030 NET BOOK VALUE Ai 3 1 March 2023 030 At 3 1 August 2022 There were IKJ investmeni Outside the UK. C05t or valuation 31 March 2023 is represented by". Shares in group undertakings Unlisted investments Totals Valuation in 2021 C05t 334 3)4 The company's investments al th¢ balancc sheet dat¢ in th¢ shar¢ capiMI of ¢ompani¢s include the followin8: Arts Depot Produttions Limi¢¢d Registered offi¢¢= 5 N¢ihtr Stti, London N12 DGA Nature of business.. to provide theatrical and entertainment facilities Class of share.. ordinary holdinK 2023 2022 Aggregate capithl ar Teserv&% Profit for the peri0car 6.791 6,791 Page 27 ntinued...
THE ARTS DEPOT TRUST LIMITED Notes to tht FinAo¢S•l Ststw¢#ts- ¢oty¢iDued for the period I Stptsmbtr 2022 t• 31 Mir¢h 2023 RESULTS OF ARTS DEPOT PRODucfIoNs LIMITED The summary financtaj perfomian¢e of the subsidiary al0 is.. Period 1.9.22 io 31.3.23 Year Ettded 31.8.22 TyrDov¢r Cost of Se5 and admirtistrative ¢xptsses CoTporhtion tax 643,924 (643,924) 958,039 (9S2.085) (LossyProfit for the financiaj year 5.954 16. RESULTS OF THE ARTS DEPOT TRUST LIMITED The results of The Ans Depoi Tru# Limite4 excluding thtyde of its wholly owneil subsidiary Arts Depot Productions Lirniied are as follows.. Period 1.9.22 Year Ended 31.8.22 31.3.23 In¢ome and endowments ExpendiNre Charitable A¢tivili Nei incoming re%)urces Gainl(Ios5) ort revaluati Totsl funds bmu8ht forward 826,484 1 11435 (287,871) 1,516,029 631807 (115,778) 1007 429 Total Carried forward 891.651 17. Group DEBTORS.. AMOurS FALLINC DUE WITHif4 ONE YEAR 2023 2022 Trade debtors Other deorS VAT Prepayments and ac¢rued income 13,550 102,514 1.963 920 117633 Pgrent 2023 2022 Ttade debtors Amounts owtd by group undertakings Other debrS VAT 91.079 153.916 1.963 170.022 18,076 Prepayments and accrued income 239 929 259.558 Page 28 continued...
THE ARTS DEPOT TRUST LIMITED Notes to the FiDDcial Ststtments- tontinued f•r th¢ petiod I September 2022 to 31 March 2023 18. Group CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade ¢redilO Social securiry and othert&xes VAT Other creditors Accrua15 and deferrcd income Accrued expenses 364,312 19.650 160,632 14,886 22.224 63,198 213,192 108 242 68.818 172,150 86.841 711771 582 374 PareDt 2023 2022 Trode creditors So¢ial securitv znd othertax&s 160.294 19.175 96.198 15.204 12,401 45.897 12.559 VAT Other ¢redi¢OTS Accruals and deferred income Accrued expenses 43.508 358 526 346 930 19. LEASING ACREEMENTS Group and Partnt Minimum le&8e payments under noTrcance118ble opering leases fall due &s follows: 2023 2022 Withirt one year BeThveen one and five year5 2.517 2.963 Donated serviees ivere received from the London Bornugh of Bamei in the form of buildings ulilised by The Arts Depot Tru Lirniied for the d¢liv¢ry of its Xtiviiie5. The va]ue of the premises ha5 been account¢d for #t a nominal ¢harge of £1 (2022 - £1 I since the Irust¢es cannot reliably e5tirnate the value of the services received due to the specialist naturc of ihe premises. Page 29 continued...
THE ARTS DEPOT TRusf LIMITED N•tss to th¢ fwtt¢lal Si#i¢m¢ttts- t•lbtiDutd for the period I Stptembtr 2022 to 31 Marth 2023 20. Group mOVEMEr IN FUNDS Nei movemcnt in funds At 31.3.23 At 1.9.22 Unr¢s¢rir¢ed fu•ds General fund Designated Fund 539.697 212 878 752,575 (267.615) 134 (267,749) 272,082 486,826 R¢strirttd Id$ Arts Education & Participation 125 745 125,745 14i,866 (20,121) TOTAL FUNDS 287 8701 610571) Net movemenl ith fvttds, irt¢lud¢d in the above are as fol]ows: lttcoming Resour¢es expended Movement in funds UDre5tri¢ttd funds General fund D¢signai¢d Fund .191.470 (1.459,085) 134 (1,459,219) (267,615) 134 (267,749) ,191,470 Restricted f¥ttds Arts Education & Participation 163 218 (163,218) 20,121 (20,121) I43,IW7 TOTAL FUI4DS 34.567 1,622.437 (287 870 P•reDt Net movement in funds At 31.3.23 At 1.9.22 Uthrtstrit¢ fumds General fund Designated Fund 532.907 212.878 1267.616) 134 265.291 212.744 745.785 (267,750) 478,035 Restritted f•nds Arts Educaiion & Participation Artistic Dtvelopmeni l32.533 (9,169) 10952) 123,364 20 1211 125.74) TOTAL FUNDS 891,651 (287.871) 603.780 Page 30 ¢ontinued...
THE ARTS DEPOT TRUST LIMfTED N•tL to the FinaDtil StteweBts- t••tiDued for the p¢riod I September 2022 1• 31 MAtth 202J 20. MOVEMENT IN FUNDS- eoDtinued Nct movement in funds. included in th¢ above are as follows: Incomin8 Resources expended Movement in fund$ Unrestritted fund5 GEneTal fund Designai¢d Fund 683,388 (951.004) 134} (267,616) 134 683.388 {951,138) (267,750) Re51rieted funds Arts Education & Panicipati( Artisti¢ Developmeni 81,377 61,719 (90.546) 72671} {9,169) 10,952 163 17 TOTAL FUNDS 826 484 1114 355 Comparatives for rnoveweDI ID GTOUP Net movement in funds At 31.8.22 1.9.21 Unrestricted fund5 Gene1 fund Designated Fund 523,083 295,000 818,083 16,614 82,122 {65.5081 539,697 212.878 752,575 RtrICted fund5 Art5 Education & Parti¢ipion Capiial fund Artistic Development 175,21)0 481 (29.334) (481) 145.866 TOTAL FUNDS 109 823} 898,441 Page31 ontinued...
THE ARIS DEPOT TRUST LIMITED No¢¢s io th¢ Fkn#ntl Statements- tontinued for the ptriod I Stpt¢mb¢r 21122 to 31 2023 20. MOVEMENT IIY FUNDS- tontinued IrmITh8 Resource5 rxpendcd Movement in funds Unrestricted fuDds General fund Designaied Fund 2,077.749 55.OLYJ 2.J32.749 {2,(l,135) 137.122 12.198.257) 16,614 82.122 (65.508) R¢slrlrt¢d funds Atts Edu¢ation & Parti¢ipa¢ion Capital fund Artistic Dcvtlopment Schools Fund 82.025 (111,3591 (4811 (60,595} (29.33411 (481) (14,500) 46,095 136,320 18063) TOTAL FUNDS 2269.069 2 J78.892 11)9.823 P•r¢ll¢ Net movement in fiknd5 At 31.8.22 Ai 1.9.21 Unrestrieted tunds General fund ]ksignaied Fund 522.247 10.660 82 122) 532.907 212 878 817,247 (71.462) 745.785 Re5trieted fullds Arts Education & Partbcipathon Capital futhd Artistie Development 175.2(N) 482 (42.66T) (482) 132.533 190.182 44 316) 145 866 TOTAL FUIYDS I tN17 429 15.7781 891651 Page 32
THE ARTS DEPOT TRUST LIMITED r4otes to the Finllcial Statements- eothtiDued for the period I September 21122 to 31 2023 MOvEmEr IN FUNDS- contiDued 20. Incoming resource5 Re50urce5 expended Movement in fvrtds Unrestritttd IndS General fund D¢51gnat Fund 1,324.709 {lJ14,0491 10,660 1.379.709 (1.451.171) (71.462) Restritted Ans Education & Participation Capital fund Artistic Developm¢ni Schoo15 Fund 68,692 (I I lJ591 (4821 (60.595) (42,667) {482) (1.167) 59.428 136320 180636 TOTAL FUPIDS 1.516.029 1,6318071 115778 Arts Edueation & Participati•D Funds enabling community edu¢&ion and participation in the arLS with a ru$ on those who are harder to reath. Programming Development Funds whith enable artsdepoi to continue its artistic. audience and pamiership developmtnt. Capit#l fuDd Grants and donations forthe purchase of fixed awts. The fund will transfer to the gencrdl fund to match depreciation over the lift of the relevhnt assets. All &$SS were fijlly depreciated as at 3151 August 2022. 21. RELATED PARTY DISCIUSURES The tharitable ¢ompany has tsken advatltage of exemption. under the ttrn)5 of Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland.. not to disclose related party transactions with ivholly owned subsidiaries within the group. 22. Group DEFERRED tNCOME Balance at I Sepmber 2022 Amount rcl¢a5cd to incoming rEr¢¢$ Amoun¢ deferred in ihe year 213,192 {213.192) 172 150 Balance at 31 March 2023 172.150 Deferred income relates to Theatr¢ •)d Arts Centre and Arts and Education projects income received in advance. This page th)es noi fom) part of the swut(ry financial sr*ements Past 33
THE ARTS DEPOT TRUST LIMITED Notes to th¢ Finntial S¢t¢the•ts- ¢tIll¢d for fb¢ period I Sept¢mbtr 2022 to 31 MArch 2023 22. DEFERRED INCOME- Cont PArent Balance ai I S¢pt¢mb¢r 2022 Amouni rele&%ed io incoming resources Am¢)unt deferred in the year I l2.559 (112,5591 Balan¢¢ at 31 Mar¢h 2023 60,0 Deferred incomt Ttlates io Theatre and Arts CeThtre and Arts and EthKa¢ion projects irKome rt¢eived tn advance. Thi5 pa8e does not fo part ofihc smtutory financial sthtements Pag¢ 34