RICH MIX CULTURAL FOUNDATION IA Company Llmlted by Guaranteel CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Registered Charity No. 1089163 Company No. 04293133 RICH MIX CULTURAL FOUNDATION A Company Limited by Guarantee) CONTENTS Report ol the Truslees Page 2 Ind&pendant Audilo¢s Report Page 18 Slalemenl of Financial Activities Pag6 21 Balance Sh00t Page 22 Statèmènt of Cash Flows Page 23 No188 to the Financial Stalemenls Page 24 RICH MIX CULTURAL FOUNDATION IA Company Llmlted by Guarantsel REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 The Trustees presenl their rèport and accounts for Ihe year ended 31 March 2022, The report has been prepared in a¢ctsrdan¢e with the Charities Aot 2011 and is also the report ol the directors for the purposes of the Companies Act 2006. The financial slalemenls have been prepared In accordan￿ with Ihe aecoijnling polictes set out In pages 24 10 27 and cowply with the oharilable company's Memovdndum snd Articles ofA5s￿la*l0n, applicable laws and Accounting and Reporting by Charitiès.. Slatemenl of Recofflmended Practice applicable to ¢harilies weparing their accounts in accordance with the Financial Reporting Sland8rd applicable in the United Kingdom and Republic of Iieland IFRS1021. R8fèrancè and administrative details Rich Mix Cultural Foundation. commonly known as Rich Mix, is a company limited by guarantee and 8 registered char¢ly. Company number 4293133 Charity number 1089163 Reglslered address 3547 Bethnal Green Road, Shor8dllch, London, E16LA. This is also the princlpal operaling address. Directors and Trustees The direciors of the charitable company {Ihe charilyl are ils Trustees for the purposes of charily13W and throughout this report are collectively referrgd to cls the Trustees. The Trustees serving dur&ng the year and since the year end are as follows., Cllr Amina Ali (Londtsn Borough of Tower Hamlets nominee) Shamim Azad Cllr Kevin 13rady {London Borough of T4)wer Hamlets nominee) Resigned 22 Jun6 2022 Chila Burmdn Sangna Chauhan Evelyn Curtin Dylan Haskins Vineel Jasooja Denise Jones Michael Keith Ichairl Judith Kilvinglon Jackie O'sulliwdn Appointed 27 September 2021 Ansuya Vezendy Sara Walla Chief Executive and Company Secretary Auditor Judith Kilvinglon BuzzgcoII LLP 130 Wood Strèèt London EQ2V 6DL Bankers National Westminster Bank PLC 216 Bishopsgale London EC2M 4JH RIGH MIX CULTURAL FOUNDATION IA Company Limited by Guarantèe) REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Reference and administrative details {continuedl Governin docurnenl The Gharily is a Gompany limiled by guarantee and 18 govemed by its Mernorandurn and Articles of Association. dated 25 September 2￿1, as atnended by special resolution 20 May 2002, 25 October 2010, 27 September 2021 and 21 March 2022. There are currently 13 members, each of whDm agrees lo ¢onlTibulo £1 in the evenl of the ¢haiity being wound up. Tradin subsidiary The charily has a wholly owned trading subsidiary, Rich Mix Cultural EnlerprisBs Lirniled. The financial slalemenls eons01idate the results of the charity and ils Subsidiary. The diroolor5 of the subsidiary ar8 a sub-group of Truglees of th8 charily. ointrnenl of Trustees Thè rècruitmènt and appointment of nèw Trusteès is handled by a working group, compT4sing the Chair, IhÉ Chief Exècutivè and at least one other Tmslee, which reports lo the full Board. The working group ¢onsideTS and makes recommendations lo the Board in accordance with guidelines agreed by the Board aimed al ensuring that an appropriate mix of skills. experience, background and diversily relevant to the full scope ol the charity's activities is in place on the Board and its committees. Following a special iesolulion proposed by the Trustees, the CEO was appointed lo the Boaid of Trustees in September 2021. This was subsequently approved by the Charity Commission. In accordance with the Articles ol Association. one quarter of the Trustees who have been longest In office retire al each Annual General Meeting. Trustee induction and Irainin New Trustees are provided with an informatson pack to brief tham on their legal obligations under charity at)d company lav4. the content ol the Mèmorandum and Articks of Association. the business plan and the retent Iinancisl pèrformance of Ihé charity. Trustees a￿ also encouraged to visit the Rich Mix buildtniT lo rneel emtdoyees and lo altend performances and in-house events. All Truslaos aro glven a sp¢eifi¢ focus of responslbilily le.g. finance, Thaikfjling, fundraising, capital piojeGlsl, Or anisalion The Board ol Trustees meets al leasl four limes a year lo consider and review all strategic and key planning decisions_ Al least two Trustee8, or 30% of the Boaid, whichever is the greater, must be present for the tnèeling to be quoial8. TheTe are four sub commiltee8'. The Finan￿ and Business Sub Committee {FABSI ol the Board meets al least four tirnes a year. It has responsibility for the oveisighl ol financial managemgril and for monitoring ovorall performance in key business and trading argas. Any issues or ¢oncems around the charity's rinancial strategy are oonsidered by the Sub Commill08 and foimal iecommendalions a Ihen made lo the lull 8oard who consider and ralify de¢isions al the Board meelings. The mèmbers of the Sub Commillee are the directors of Rich Mix Cu5tural Enlerprises. The Fundraising Sub Commillee piovides support and guidance lor capital and ievenue lundraising activities. It meets al least quarterty. The Capital Sub Committee oversees the development of the capital project including the delivery of the phased plans and mile51ones, and morTrilors the budgel.11 meets as and when required. The Artistic Sub Commillee oversees Rich Mix's artistic vision and guides and monilors its development and implemenlation. The first meeting will lake place in summer 2022 and il wlll meel quarterly. RICH MIX CULTURAL FOUNDATION IA Company Limited by Guarantee) REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 StructLEreJ gDvernance and management Icontinuedl th the exception of the Chief Executivè, thè Trustees, who act as directors lor the PUTposes of the Companies Ad, are not remunerated lor their serv￿8$. The eharily pr(Ivides Directors and officers Liability Insurance. The Board delègatès 0￿rational decisions lo the Executive Team, led by tho Chief Execullve, who are responsible for implerllenling the Board's declsions. and lor the day-to-day rnanagemenl of the charity and the trading subsidiary. The key management porsonnel are.. the 8oard ol Trustees and the Executive TeaTll Comprising the Chief Exg¢ullve, Deputy CEOIHead ol Marketing and Communications, and the Heads of Finance. Cinema and Operations. The Head of Fvenls and Production left the charity in August 2022 and the rolo will no longer foim part of the Exeoul•fe Team. When selling remuneration for ils staff the Trustees take into account market rates and other relevant dala ielaling to arts charities of a similar scale and operation. Public benefit The primary object5 of the charity, as sel out In th¢ Artlcles of Association. are lo.. advance eduealion (>f the public in art and culture of all lype8.' lo work towards the eliminalion of racial discrimination prornole equality of opportunity 2nd good ￿latiOnS between people ol dlffer¢nl iaThal groups, particularly by promoting events and aclwities lo foster inleicullural diversity of mlgrdnl communiligs and Iheii cA)nlribution to economic and oullural life particularly by establishing Ri¢h Mix Centre as a home for exhibitions and by collecting, pr8serving and exhibiting items of educational value. The Board has given due consideration lo the Charity Commission's published guidance on the Public Benefit reqU￿ement under SECtion 17 of the Charities Aci 2011 when rew8wino the eharitvs aims and objectives and in planning fut£Jre adivities. The Board considers that all of thè charity's objectives deliver benefit lo the public. as 8xplainad bèlow. Our objecllves as sel oul below remain unchanged, Objectives and activÈtles Rich Mix is a vibrant arts venue and crealive hub in Shoredilch. East London. Vve deliver Culturé for a Changing City, connecting some of the fflosl adventurous and dlverse audienoes to a vital and exciting progr8mme of contemporary cullure. Our vision is lo be East London's home for eulture and creativily. We welcorne the communllies of the world in East London lo creale. enjoy and sharè oullure. Our work is underpinned by a sel ol value5 shared across the organisation.. Open. We aro open, generous, accessible and welcoming. lrtcluslve. We oharnpion equality and dniersily and strive lo represent, reflect and Tespecl different voices and perspectives. Collaborative. We work in partnérshlp with 8rtists, Compan￿S and comrnunities both locally and internationally_ RICH MIX CULTURAL FOUNDATION IA Company Llmited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Objectives and activities Icontlnuedl ArnbitiOU5. W@ sUp￿rt ambilious artists and Njeas in the belief that art and QLElluie have Ihe power to bring people logelhey. Creative. Vve nurture all forms ol creativity and we are also a creative force, We do this by using all the resources of the building, the skills Of our staff, and those of our artistic partners lo create an inlegraled organi8alion whi¢h'. offers an ambitious, inlernalitsnal arts programme in¢luding music, filtll, danc6, spoken word, Ihealro and visual arts, and is represenlalive of our lo¢al Tower Hgmlels communities has a crÈativè èngagement programme which reaches out lo childron, schools, young people and famili95. frorn Tuwer Hciinlets and beyond, lo gNe them opportunities to participate in a wide range ol creative activities provides a commercial cingma progiamme. Catering and spaces for hires and events and concessions and bars provides affordable workspace to a variety of commercial and nol-for-profrt cultural and creative organisations builds partnoiships with dlverse artists and organisations in order lo achleve our artlslic airns and support local talent development, particularly in underrepresented communities. Llvè Pro ramme Our liv8 prograrnme tspan5 live music, spoken word, perfoitnancÈ. Ihè3trè, dancè, film, talks and visual art, whilst hosting many multi-disciplinary event% and fp81ivals. We work with a multilude of partners including charilios, local collectDJes and independent artists in order lo piesenl as divgrs8 a programme as possible. Creative En emenl Our Creative &TrgagemÈnt programme aims lo Iransforrn lives in Tower Hamlets and East London through creatiwly, working with.. Families and the Community.. offering a rang8 of18arnlng and cultural activities Children and Schools.. participation in aclivilie8 to promote confidence and learning Young People.. training and work experien¢& in the cultural sector Emerging Artists,, supporting creative praclilioners from diverse backgrounds. Cinema Through our einema we connect with many local audiences, including a large proportion of low-aris engagers and low-income groups. We pmgramme festivals as well as blockbuster5 and independenl films from around the world, We work with regular partners such as We Are Paiab18 and NT Live on oné-off screenings with live elements. Prival HI Our Private Hires activily 5UPPOrts our broader artistic and learning and participation programmes, as well as the overall funriing of the building. Utilising our core asset, the five-slorey Shoredilch landmark, we cater foi even15 in our many fiexible and fully equipped spaces, including conf&ien¢e5, PToduct launches, weddings and exhibitions. Resid8nl or anis8lions We offer affordable workgpace, with our building providing a home for a variety of so￿￿11Y progres5Th1e charities and innovative ¢re81ive buslnesses. Currently 26 organisalions employing approximxtely 200 P8ople have Iheir headquarters in the Rich Mix building. Workspace fcTrr charities is rented al between 30Yo to 40% below market ral88 as part of Rich Mix's support for the wider cultural communily. RICH MIX CULTURAL FOUNDATION IA Company Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Objectives and activities Icontinuedl ital Pro eot lans- Reima Rich Mix Our longer lorm aims inoludo plans for a substanlial refvrbishmenl of our building, opening up Rich Mix lo llew a￿d￿nceS, iTllplovir￿ accessibility and Feducing our environmental impact. Woth on the Capital Project, Reimagining Rieh Mix. wh￿h began in October 2021, is addressing the needs of the lo¢al communlly while expandlng R￿h MIES offer as a pioneering arts e&ntre at the heart Df multioullural London. The capital projpcl will.. cr8al8 8 social, porous ground floor, linking Belhnal Green Rd to Redd)urch St- a public gpac6 and CLtltural crossroads in which to meet, eat, dr¢nk and encounter ari dEllver new dedThted CrealÈve Engagement spaces to support skills development enhance existing perfo¥mance spaces and cinema lo improve capacity, accessibility, experience tind reali5e artistic vision improve facilities and services for all users. The prtiiect will b8nèfit audiènc6s from Tower Hamlets and London-wide. our local cornmunily, the diverse partners and artlsls we work with and thé cr88tivÈ businèss r&sid6nts and their employees. Fundraisin Raising voluntary funds from Irusls, foundations and individuals is a wital souic8 of income that help8 us to fulfil our charitable objectives. We ulilise internal staff for fundraising alor)gside exleinal professional fundiaisers and continuo lo develop in-houso skills. We do not empkny commeicial participators lo carly out fundraising aolivity or 8￿gage In facè-l(h-f8cè or telephone fundraising. In doveloping our approach lo fundraising we have taken aceount ckf Ihe Code of Fundraising Practice issued by the Fundraising Regulator. R4¢h Mix has received no complsitsls About its fundraisino activi11es either during Ihe finanaal year or subsequently. E ualil diversil and 3udienc6S We operate al Ihp inlprsgrlion of many cotllmunÉlies, cullures, b￿SIneSs&S and artistic tradillons and place great emphasis on ensuring that diveisily is al the heart of what w8 do. Rooted in East LondD but open lo the world. we have a demonstrable track record of reaching diverse ￿mMU[litIeS and of our oommitmenl lo ènli-racisl poliaes and practice, dwersity and inclusion. R￿h Mix is one oif the nine founding members of the FErture Arts CenlrES {FAC) a network ol over 100 venues championing the unique importance of arts cenlies al a local, regional and naliorhal18V81. Safe uardin Vve continue lo r8view our work around safeguarding in relation to our audiences, part￿1pantS in tha Creative Engagement progratnmè, and otjr staff, in line with regulatory frameworks and guidance. Sustainab16 develo ment Achieving increased environmental sustainability is a priority for Rich Mix. Our Environmental suslain8bilily Commill$e conslsls of a ¢ross se¢tion of stsff members with Ihe main aims being 10 raise awareness, savo onergy and redu¢9 wa51e. Data rolection We have continued lo comply with GDPR, with reviews and action taken lo rnainlain Complian￿ oll an on-going basis. Specifically, we continue our data sharing wilh parlner organisalions lo supply audion¢e data in a secure, compliant way, and support Eheii audien￿ devebpment efforts. RICH MIXCULTURAL FOUNDATION IA CoTnp8ny Limitsd by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Achlevements and perfomiancè Im act Df Covid-1 ThB year ended 31 March 2022 continued lo be affected by Covid-19 for limited p8riods including th8 restridions on afjtivily in the first quarter and the impact of Omicron in Dècember and January. Despite the lifting of all reslriclions by the government in July 2021, Rich Mix continued to ope¥ate reduced capacity in all performance space5 and anema Scfeens until October to increase audience confidence in ieluining lo Rich Mix and lo offer a Inore inclusive experienca. Other Covid-safe processes such as enhanced deaning and hand &rallttisers retnain in pla¢9. Rich Mix Ceased usin thè funding available under the government's Coronavitus Job Retention Scheme al the end of June 2022. Overvi8 Audience confidence in returning lo indoor spaces including the cinema and Live Programme gradually increased throughout the year but wa8 still slqnif￿antIY below pre-pandemic levels. We had 40,650 ticketed admissions to an intèrnxlional programme of cinema, music and live evenls, CDmpared with over 101,000 in 2019-20, 7,500 people attended private events (from screenings and perfortnances to CONferen￿s, seminars and product launchès) eompar8d with ovèr 28,500 pte-pandemic. Our Creative Engagement progiamme engaged 2,157 commullily participants alld 1.049 piimary sehool pupils frorll nver 90 schoolslcommunily oyganisallons. This cornpaied well with IhB 5,440 participants who enjoyed subsid1s￿ activitiès In 2019-20. As audiences r6turn8d to in p8rson activity we weie also able lo continue lo broaden our reach lo sudienceg through our online and live streaming actpiilie& with 959 people contiouing lo access our online programmes, nvpr 3,500 people accessing our online blogs over IhE year and over 150 audiences engaging with our YouTubè and Vim80. Live Pro ramme Wo ro-opened our Live Programme in Juty 2021 with our delayed Spilaifields Muslc cotnmission, the Shubbak Festival of conlemporary AraEI arts and culture, and Elèvate East's Sluck NAJ Tho bft, a artislic development programme offering a l¢st playground lor five local artists. The Shubbak festival allracted 300 audiencB tnembprs aGross foEtr days {31 a capacity of 300/,1 in comparison to 2019 which was attettded by 862 people. 'Thankyou, and do please pass on my heartf611 Ihanks lo everyong at Rich fvlix. Your8 a speGlaoular team end really arn unique in the wayyou support artisls...I would know beoause we tourecl the show 10 2 number of v6nuès and rgally do slancl oul by ￿le$..ArtiSt fiom Shubbak Festival The Autumn piogramme acted as a lesting ground lor Artistic Partners and audience appelile with gradual retuin of a mix ol spoken word, comedy and thèatre in our Iwo smaller perfoTmance spa￿S whilst Ca￿'tal works took place in The Stagè. SFX)ken word and Ihealrg shows proved lo be most popular with sell oul events betwo8n S8plember and November indudino All the Beds I have Slept In from réfugee company, Phosphorous Theatre, and NeverAlong LDN, from Thrwe LDN. We celebrated Ihe 51yO Anniversary of Bangladesh Independence with a week-long festival including mugic, film, spoken word. lamlli8s' workshops and talks. The feslival was attended by 445 peoplè. Due lo the spike in omicron cases, we had to posipone our linale event. Bangladesh 50., Challenges and Celebialions Panel Discussion. This was then rearranged in March 2022 and was attended by S5 people, including the High Commissioner for Bangladesh in th8 UK. The sleady relum of our au(Jlen¢es lollowlng the tr¢alling of different events and the reengègemenl of partners wmbingd lo d8liver a successful re-launch ol our full programme from January with the season, Rs-Roo¢ed. Re-fioolfjd ￿lebrated unpportunity to share their arnbilions for the fuluro. This cohort has d wide range ol creative interests, induding rnusic. dance, wtiting, fashion. pcetry and pholography. 'New Creatives has been a great experience in loffl7s ollearning mor& about myself, expl(rring crgalivity. daveloping my skills and feellngs gnd making conneclions" Participant on New Crealiv8S Emoiging AAisls.' supporti17g crealiwe ptaotil￿n￿r8 from div8rsè b8¢kgrounrls. We conllnue lo work with our Associale Artists who support the dèlivèry of c>ur Creative Engagement Programmo and provide fftentoring support for emerging artists as woikshop leaders so that we can engage with a larg8r pool of piactitionèrs from ethnically diverse communities. Cillema We reopÈnèd our cinema programme at the en(f of May, welcoming back audlences at a safe distanc.e along with nèw 8nd long-standing partnerships with diverse-led gknbal ffilm festivals. Award- winning films Nomadland, SouftFd of Metal, Min(Iii and Judas and Ihe Black Messiah. al 500K seal eapaeAly lo suppotl messaging around Covid-safe environment. announced our return lo business. Audiences built over Ihe summer with the top three films Blask M"dow, Anolher Round and Summer of Soul, including 8 801d-oul advance screening of Summerof Soul in partnershlp wllh We Are Parable. The 8Utumn blod(busters. No fime to Die, Dune and Tha Frgnclp Dtspal¢h continued to build back Cinema audiènces as social distan￿ng and redu¢8d Gapa¢ily tnodels were lifted from 1 Oclober. The impact of Ornicron In Decembor and January meanl there was a challenging end lo Ihg financial yèar with cinema audiences signifirnnlly down despile a strong film schedule and awards season wilh filrns including King Riohanl. The Powerof Ihg Dog. House ofGu¢ci, Wosl Side Story, Spiderman, Matrix and The J(Ings Man. As in pievious years, Dur Festival Programme was an irnportanl element of our offer lo audlenees posl-pandemic. We relaunched this with thè UK Askgn Film Festival in May, followed by the 22nd RaitTrbow Film Feslwal, habeshaview, whlch showcasès the best of Ethiopian films, and in September we htrsted London's first ever TunisÉan Film Festival. We were delighted lo welcome back the LorKlon Short Film Festival and the London Indian Film Festival ILIFFI in March 2022. RICH MIX CULTURAL FOUNDATION IA Company Llmlted by Guaranteel REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Achievements and performanGe (continu￿) Our repUtat￿n as a local ir)dependenl neighbourhood arts Cenlre, showcasing an eclecbc mix of independenl and blockbuster films, is strengthened by Ihe many festivsl partnerships, but overall audionce numbers of 31,492 compared wilh pre-pandemic numbers of 71,259 reflecl the challenges faced by th9 cinema industry during and following tha pandèmic. 'LIFF hBd 8 wond6rful LSrsl eXperie￿e partnering wkh RiGh Mix. 11 w*$ & ploasure worf(ffng wilh all the team, fronFprogramming lo projeGtion, lo marketing and box office. We had a sold-outsc￿enIfiq Ihal gen9raled a lol of inlfrest and spaiked coKJvers8lioii outside Ihe l&slival, loo. Wg would dgfinlloly b8 inleresled In ¢onliiJuiKfrg a partne￿hip wilh this kgy East London vgnu8, Ihthrprogramming and communily 8ngaognpgnl is vital." Dir8clor, LIFF Fèstival Residént or anisation Despite Ihe eonlinuing i¥npacl of Ihe pandemic on office-working and the reducèd demand for workspaces we have averaged 94/0 occupancy over Ihe year with 24 residents h¢iu8ed across our 30 workspaces. We have re-purposed ono Spa￿ as a co-worklng space for Ihree smaller organisatsons and Ihete is Lurrently a S4.￿ charity10 46% commercial split In terms of square footage. As last yoar, wo have worked closety with our residents to ensure Rich Mix Temains a home lo th8 cultural organisalions who share our building and supported our resident organisalions by increasing awareness of the creative (x)mmunity in the building Ihrough a successful bi-monthty blog Spollighl Series across Rich Mix social media. Private Hires The Private Hires team adapled lo resliiclions on evenl activity by creating offers for industries still able lo operate under govemmenl restriction5, primarily TV and film production. This was a kgy new busin6ss area for Rich Mix with several pioduclion wmpanies being inlioduced to our range of facilities. There was also inve51tnent in the live slreaming and digilal offer whi¢h not onty allowed lor hybrid corporate hiTes, bul also supported the Live Programme activity. Bullding clienl confidence has been key lor recovery and the Priwaté Hiros team have worked closely wilh Operations and Markeling lo create a clear Cowd-5afe policy and risk assèssmenl for hires. Repeal bookers responded positively and client feedback has been ove￿helMlngIY 8UPPOtlive. HowEver. the lead time ftsr bookers 8hortgned drastically which In turn has pul slrain on the whole team to be able to facilitate events. This trend seerns likely lo Continue so we are putting processes in placè to allow swifter lurnarounds and a smoother sales pipelins. Omicron impacted Novewbor lo January, but a com￿rted effort in February and March brought In iepÈat clients and new relationships. Diversi and Indusion Rich Mix's explicit ftrcus on diversity makes il a pioneer in the UK cultural landscape. We are a diverse team and board.. 42Qk ot the slaff team and 54% of IhB Boatd ale elhnically diverse., 59.10 of the staff team and 77VA of Ihe Board are female or non-binaiy., 41QA of the staff team and 42Q/o of the Board are from low socio-oconomic backgrounds,, 290/0 of the staff team are from LGBTQIA+ groups., 13Qh of Ihe staff leam identify as Dldeaf or disabled and 180A as nèu¥odivergent. We have 8 tr8d( record in providing culture for marginalised group5 with of audiBnces and artists bÉing from global majority communities and 21°k of audienG9S ooffling flom low ineome and low arts eno¥glng segm¢nl Kaleldos¢ope Creatives (London arts organisalions average of 12% and UK-wide al 5Y¢l, Vve are one of only 54A of Arts Council England's National Portfolio Organisations wlh an 'Oulstanding' rating for the Creative Case for Dlverslly. io RICH MIX CULTURAL FOUNDATION IA Company Limlted by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Achievements and performance Icontlnuedl This year we have taken the following fLJrther steps in pioneering diversity= Reviewed our Equality, Diversity and Inclusion Polloy and Action Han, signed off by thè Board Carried out company-wide anli-racism awareness sessions Included EDI in all leam membei induolions. Suslainabilil The acllon plan lor 2020-21 focused on Taising awareness to our aUdIen￿S and slatt of the need for continued er)wronmenlal action. Launched in March 2021. the Rith Mix Goes Green campaign reaohed over 40,000 poople over the 12 monlhs. Environmental responsibilty was wrillen into all job ￿e￿riptionS, with key managers given specili responsibililigs 19 on5ure we continue to work sustainably across departments. Gr¢en topics were raised in our Creallve Engagement actwily, with The Big Draw focusing un ways that families can A￿u¢e. Reiise. Rocyc18. Rich MIX is also commilled lo programming a minimum ol three evonls a year with an environmental focus. Alongside allending webinars on thè launch of the Theatre Green Book, wg also joinèd the Julie's Bicyde Creative Green cohort. The cohort provide5 peer supporl, professional advice, and training through a nebwork of other cultural organisalions who ale championing Ihe envirL)nment. W¢ achieved 4 out of S stars ftrr our Environmental Suslainabilily al Rich Mix. C8 ro ecl lans- Reima Rich Mix WÈ successfully delivered the first phase of our capital plans with a revilalised first floor Cifjema Bar, Gallery space. dgdiLaled Cre¢ltive Engagement space, ariist Green Room and enhanced heating and cooling syslems in early 2022. The project was dglivered on tlme and on budget despite dolays caused by the Ornicion valiant in the run up to Christmas. A series of stskehulder events to launch tho new spaces elicited support from artists, partieipanls and audien￿8 alike. "Thanks forhaving m8 last night. The baris very Gool, l Can see myself spending some quality tim8 Ihereff. Artist in Live Programme "l just w8ntod lo say how lovely il was to bo hack al Rich Mix yesterday. to s&è you èll, lo see the new bar8nd to h&araboth the great things Ihat are still happening and are going lo happgn, 11 felt, as il Iways did, like hL)mo.° Audience and Participant Mcmbei Our investment irb a piogTamtThe of mechÈnical, electrical and plumbinu works also addressed issues ol wat&r ingress and Health and Safety syslemg with support from Round 1 of Art5 Council England's Cultural Recovery Funding. Plans for future p&riod8 OveN¢ew Our plan for 2022-23 is to build on our reputation as a venue at the heart of the community ol East London, with thè three cornerstones of oui cu51ural and creative programme (Live, Creative Engagement and Cinem81 growing in audiences, partneTships and ambition. The rèbuilding ol OUT successful business tnodel, pre-covid, will be essenlial over this year, whilst not losing Ihe important slralegi¢ work w8 have undergone in our trusts and foundation5 fundraising. The new spac95 on the first floor will support this with optimistrd rèvenue generatin9 Opwrtunilies around cinema, bars and prlvate hires. li RICH MIX CULTURAL FOUNDATION IA Company LSmlted by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Plans for future periods l¢ontinuedl Live Pro rammo The Live Programme will see 8 retum of cohegive seasons of work, mixing k)ng-lerm and new artistic partnerships, festivals, as well as the inclusion of digital formals {learnl from during closure) and programmes that embody'cullure for a Changing City.. Re-Rooled. our season of Ilve events which began Sn January, conllnued lo July 2022. We launch our autumn season enlilled, The Timfj Is Now. which wsll indude oui first curatecl series. R&he&￿ing citgpia. Five artists andlor colleclivos will recewe micio commissions lo create events responding lo their utopian vision. We hope Iliis piltsl will be a successful ttitxlel for progiatnming seasons arKJ deepening collaborations in tFie future. Creative En emenl Our Creative F.ngagement programme will continue to embed community ctrnsullation to add￿￿5 local need and spark ereativily. We will focus again on our wre funded projects deliveTing New c￿￿tIVeS. a coachtng. personal Lteveloprnenl and work experience programme lo encourage young peoplè in Tower Hamlets to gain employment in the cultural seclor. Pic'n, Mix. our film edu¢atlon programme, helps prlmary sd)ool ¢hildrgn In Tower Hamlets lo improve Iheii digital skills and literacy. Thi5 year's theme of 'Living History.. finding ourselves in the Stories that make our World,, enables the inlmduclion of personal and collective narratives. We will also introduce sÈly with pre-covid. These relalionshlps will allow us lo programrne films that aro moro dlvgrso alongslde our regular ol blockbusters a￿1 indepondenl lilffls. Film festivals we expect for 2022~23 include.. Filrn Africa, UK Asian Film Festival and London Indian Film Festival. We will also hope to continue parlnersliips with film feslivals showcasing work fro Tunisia, Elhlopia, SDm81ia and Brazll. New partners include Thg Biiti8h Urban Film Fo81ival and T A P E Collective. With the Creative Engagement team, we will look lo grow family audtences slowly, with a regular family film offer and a corresponding activity e.g. a Film Club, lo bring in audiences during th6 school holidays which are USLJally quiÉter times for us. 12 RICH MIX CULTURAL FOUNDATION IA Company Llmltèd by GuarantÈ81 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Plan$ for future perSods l¢ontlnu*dl Resident 01 anisalions We are woiking closely wilh our residents lo ensure that Rich Mix remains a htsme to the 26 cultural organisalions who share our building. Maintaining our base of rE5ident organisalion5 is a key priority for Qui fuluie as remote working become5 rnore wmmon. Vvo will conlilluo lo maximisc our income froTh woikspaces by offerillq some bespoke agreements with existing and prosp9clive iesidenls whilst bl11￿ing back Fonger (erm leases into our business model. Private Hires There is a marked increase in enquiries, bul dienls a￿ 51111 reluctant lo commit lo conlra¢ling. With the shorter lead limes of bookers, the Private Hires team is setting clearer processes and default evenl lemplales lo suppori operations, as well as ulilising Artifax to ensure a smoother sales pipeline. With Covid-tg restrictions now gonè, w6 will look fo promote tasÈ studies of laige Èvents lo build cIEnl Confidence and reengage big budget bookers, whilst stienglhening repeal client relalionships. Investment in digital equipment and team training has also made the Privale Hires offer resilienl, providing options foi live slieaming and hybrid aclivily. Overall ¢li9DI budgets are lower and oosls ale highgr, so we will provide offers Ihal show value for tnon¢y, d¥ivo additional spend during tho ovonl, and promolo our un￿ue aspects in the boutique cinema, the new bar facilities, and the experlise ol our technical team. Securing bockkings from nèw industries, such as TV and film production, has broadened our business nétworks and increasèd our révènue potential. Wth thé succesg of the London Mural F8Stival, WÉ arè also ponlinuing lo build on Ihg relaliDnship with Global £treg1 Art for ouldoor advgrtising. Ca ro'ect lans.. Reima Rich Mix Having secured £650.000 from ACE Capital Investment Fund, wg will ¢ontinug fundraising for the next pha5B ol our ¢3pilal pro1￿1, which will open up the ground fknoi gnsurillg that our foygr, café bar and Ixix office are more accessible, efficient and welcoming. E ualit Divetsit and Inclusion Our Equality, Diveisily and InGlusion Committee will continue lo host Qonveisalions around anti- racism, whilst shifting fwus lo accoss and inclusion, as woll as ensuiing our vonuo is a safo Space for LGBTQIA+ communilies. Environmental sustainabilit The action plan for the next year will includ& an audit of the waste 3nd iecycling processes, complètion ol a procur&ment poli¢y, inlerroyalion of th& heating and cooling syslems, and place an ecD lens on oui capilal project plans. strate for the future Our vision for equalily and diversily remains at the heart of our oroanisation with three key elemènts.. presenting an exciting prograrnme that celebrales and reflect5 the diversity of the commur)ities of East London and inspires the next generation of musicians, performers and audien(es having a strong leadership role in the sector, supporting local diverse tnusic and arts promoters and organisalions lo grow and thrive, and being a leader nationally in supporting the equality and diversily ambilions tsf arts ￿ntre$ developing and introducing an inlegraled approach lo community development, combining learnlng and engagement, audience development and artisls. support representing the breadth, depth and qualily of Rich Mix through communily partne15hips. 13 RICH MIX CULTURAL FOUNDATION IA Company Llmlted by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 MARCH 2022 Plans for future periods Icontlnuedl Our slra10gi¢ tAans lo ensure a sustainable future for Rich Mix include the following.. delivering an ambitious cultural piogramme, inlorsecling live, creative engagement and cinema lo encouiage cross fertilisalion of audiences delivering a successful phased capital prtsject, maxlmlsing the so(#al, cullural and commeicial potential of our building investing in digital lechnol()gy and Iraining lo offor hybrid live slreamingllive performance expanding our creative ¢ngagemenl programme ttr widen our reach to ma¥ginalised cominunities in East LondorF. funded mainly through grant income maximising lonancy and private hire incoTne relxjilding and sustaining an 6lhi¢al ecosystem within our workforce and organi8alion priorilising financial suslalnabillly, equality and diversity and environmental sustainability. We 8re conllnuing to.. support artlsls who call Rich Mix their home pr(>vidè a platfomi for artisls. particularty fiom ethnically diveise cornrnunities, 19 Secure Pl(4ÉcI funding enhan￿ outreach programmes maintain d competitive Private Hires position. Financial Plan Our financial projections up lo Maich 2023 indic#lè that Rich Mix will have sijfficient financial resources lo conllnue lo meet ils liabilities as they fall due. OUT lorecasl for thè year ending 31 March 2023 is based on the assumptions that trading operations and charilsble activili6s will resume in full in April 2022 and we will look lo ro-oslablish oui divers8 income streams during the year. Howevrsr, il will lake some time for Ricli Msx lo recover fiom the impact of Covid-19 and, despite cost redu¢lions in 2022-23, we are Still projecting a deficit lor the yoar. The forecast deficit for the yeai will b9 cover13d by g8n8ral funds. The Tiuslees aTe confident that Rich Mix will remain financially ¥esilienl and there will be 5uffi¢lenl general funds lo cover Ihe forecast deficit and any furthèr rèductions in activity levels. Financlal revlew Incorne Total income for the year amounted lo £2,769.02512021'. £3,012,448) of which £1,437.27612021.' £1,839.1411 related lo grants and donations. The prln¢ipal fijndar during the year was Arts CLJuncil England wh￿h promded core funding of £307,29012021- £307,290) under its four-year NPO agreement from 2018-22. Ernergency funding 01 £228,935 was re¢eived from the Atts CoLJncil England during the year from Ihe Cuhure Recovery Fund Round 2 to Cover core costs12D21.. £1,286,901 from Arts Council England Emergency Response Fund and Culture Recovery Fund). Project grants amountsng to £f99,229 {2021.' £192,225) were received lo support our Creative Engagement and Llve Prtsgrammes. 14 RICH MIX CULTURAL FOUNDATION IA Company Limited by Guarantee) REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Financial review Icontinuedl A Capital Project grant of £664,77112021.' £35,2291 was received from the Mayor of London's Good Growth Fund lo support the first phase of our redeveloptnent. In addition, an amount of £15.000 was received fiom Assured Guaranly UK Lirniled towards the second phasé wh￿h will commence in the year-ending 31 March 2023. The Board wishes to express its thanks to all our fvnders, donors and sponsors for their generous support. Income fmm coinmercial trading operations of £608,874 showed a significant in¢rea88 over 2020-21 1£105,9T71. Although many of the restrictions had been lifted by July 2021, we have still not bèen able to aohieve the pre-pandemic level of £1,510,567 in the year ended 31 March 2020. Rich Mix ejulltsral Enterprisgs Limited. thé wholly owned trading subsidiary of th¢ charity, made a profil lor the year of £181,475 before managernenl charges12021,. Ioss 01 £43,593). The increase In thè management chargè for the year of £148,071 12021.. £62,959) iellects in the increase in trading gclivily. Thè profil for the year after managemenl charges in the Iiading subsidiary amoL¢nted to £33,420, compared with a loss of £106,530 in 2021. Total income from charitable a¢livilies, indudlng tieket sales and fees 01 £50,80312021.' £3,028) and rental income and setvicg charges of £609,06312021- £615,070), was £660.202 {2021'. £622,220). other income of £62,546 {2C121'. £444.8091 relates lo amounts received by the charity and ils trading subsidiary urn1eT the govemmènt's Coronavirus Job Relenlion Scheme. Ex Total expenses foT thè year ended 31 Maich 2022 were £2,733,83012021.' £2,379.228). Expenses include staff costs of £l.f61.026 {2021.' £1,139,90n. Reservès policy MovemeNls in funds At 31 March 2022 lotsl reserves amount lo £14,156,87012021.. £14,121,675) comprising reslricled funds of £963,83812021.' £434.7841, designated funds ol £12,476,94412021.. £12,984.5831 and uniosliiclEd general lundg of £716,08812021.' £702,3C181. During the year exp8ndlturÉ amounting io £436,07312021., £408,634) and £28,91012021.' £28.9101 was chdrged against the Building Fund and the Fixed Asset Fund iespeclively, wmprising the depreciation chargp and wrbt&off of assets no longer in use. Section 106 funds of £42,656 including transfers lo restricted funds of £14,421 have bogn utilised during Ihe year lo cover soffle of the costs of the Capital Projèct (2021.. £nill. The remaining balance ol the ()f £47.502 will be ulilised during the year ending 31 March 2023 Desi natèd funds Design8lod fund5 includè.. Bullding Fund Thé Building fund represents the not boDk valuB ol freehold and leasehold property. Annual deprèciatson is charged against it, Fixed Ass8t Fund The Fixed Asset fund represènts the nal book value of eqtsipment, fixtures and fillings funded by Ihird parties. Annual depreclallon on these assets is charged agabnsl Ihls lund. Section 106 Fund Expenditure under the Seclion 1[￿ fund is determined by an agi¢em¢nl belween the London BoTough of Tower Hamlèts and Rich Mix which sets out the purposes for whiEh this fund may be used. The balance of U7,502 rèmaining in the fund al 31 March 2022 will bB used lo support the Capital Project plans, 15 RICH MIX CULTURAL FOUNDATION (A Company Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Rèsèrvès policy Icontinuedl General funds 11 is the polioy of the chafily that the aim shDuld be for unrestricled funds which have not beet) designated lor a specific use lo be maintained al a level equivalenl to three lo six months, operating ¢osts. The aveiage monlhly operating cost durlng the year, exduding the direct cost8 of trading opoialions. was £151,150. On this basis six months, opÈrating costs would amount to £906,897. The balance on oener81 funds al 31 March 2022 is £716.08812021.. £702,308). Free reserves are calculgled as genèral unreslri¢l¢d funds not represented by fixed assets and show a batance of £699,32812021'. £678,711). We are continuing lo d$volop rjur strategy to reach the organisalion's d8sired r8S8rv8s policy and we will keep this policy under review in line willi the operat￿n&1 guidance No.43 (Chartty Inctsmè Reserves) issued by the Charily Cornrnission. Risk management The Board regularly rovi9W5 Ihe major risks to which Ihe charity is exposed and has established systems to mittgale those risks, as far as Is reasonably possible. Our Tisk r8gisl8r Idèntifies thosÉ risks and assigns specific adions and rosponsibililles for mi(igating them. The Itsk managemelll ptocess is ongoing and is regularly updated by the Executive Team and reviewed by the Finance and Busine88 Sub Committee. Princi al risks and uncertainties The Baard is partieulsrly eoncemed wllh risks Ihal have the potential to Gaus8 th8 charity to cease operations and has dev6lop&d policies to mitigate Ihose risks. The key risks are,. Loss of income Our forecasl for the current year shows a conlinuing r8lurt5 to our t¥8ding and charitable activities, bul there remains uncertainty regarding the impacl on trading activities of audien¢e confidence wsl pandemic. Building infrastructure and heallh and safety issues The Building Risk Règister identifies the key risks lo Rich MIX and is regularty updated and monitored al least on a six-wonlhly bdSi5. The investment iii the MEP proqramme has miliuated some of these risks and our live year manaoemènl and Maintenan￿ plan will be developed as part of the next phase of the Capilal Piojecl. statement of Trustees, responsibilities The Trustees (who are also direclors of Rich Mix foi the purposes of company lawl are rèsponsible lor preparing the Trustees, report and financial slalernenls in accordance wilh applicable law and United King(Som A¢¢ounting Standards (United Kingdom Generally Accgpled Accounling P¥acticel. Company law requiios the Trustee5 to prepare financial staternenls for each financial y&8r wh￿h give a Irue and fair view of the slate of affairs of Ihe charitab16 company and Ihe group and of the iiicon)e and expenditure of the charilable Company and the group for that period. In preparing these financial stat6m6nts, the Trustees are required lo.. select suitable accour)ling policie8 and then apply them eonsistently., observe the methods and prln¢lples In Aceounting and Reporting by Char¢lies.' Slal&ment of Reoomniended Praolice app1￿&ble tts char¢lies preparing Ih&ir ac£ounls in accordaneè with the Financial Reporting SlandaTd applicable in the UK and Republic of Ireland IFRS 1021., 16 RICH MIX CULTURAL FOUNDATION IA Company Limited by GLEaranteel REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 (Gontinugdl Statement of Trustee5' responsibilities (continued make judgernenls and eslirnales that are reasonable and prudenl slate whether applicable United Kingdom Accounling Standaid8 have been lolbwed, subje¢t lo any material departures disclosed and explained in the financial slalemenls.. and piepaTe tho financial slalemenls on the going concern basis unless il is inappropriate to presume that the chaiitable company will continue in operation. Thè Truste8s arè rèsponsible for keeping proper accounting Tecords that disclasg with rga8onable accuracy al any lime the financial position ol the charitable company and enable them to ensure that the financial slalements comply with the Companies Act 2006. Thèy arè also respongiblè for Safeguarding the assets of the Charitab￿ company and the group and hencè foi taking rea80nable Stops for U)e prevention and deleclltsn of fraud and olheT ITTegularilies. Each ol Ihe Trustees confirms that.. so far as the Trustee is aware, (here is no relevant audit informalion of which the charitable company's auditor is unaware., and the Trustee has taken all the steps Ihal helshe ought to have taken as a Trustee in order to make himselllherself aware ol any relevanl audit information and lo èstablish that th8 charitablè ccthpany's auditor is aware of that informalion. This ¢onlirmalion Is given and should be inltsipreled In accordance with the prtsvisions of 8418 of the Companies Act 2006. The Trustees are res￿nSIble for the maÉntenan¢e and inlegrtty of the eorporate and finan¢ial infoTmalion induded on the Gharilable company's website. Legislation in the United Kingdom governi￿ tho proparalion and dissemination of financial slalemenls may differ from legislation in olherjurisdiclions. Approvèd by thè Board on 3 Octobér 2022 and signed on ils b8half by Michael Ke11h Ghair 17 RICH MIX CULTURAL FOUNDATION IA Company Limitèd by Guarantee) INDEPENDENT AUDtTOR'S REPORT TO THE MEMBERS OF RICH MIX CULTURAL FOUNDATION Opinion We have audited Ihe finsncial slalemenls ol Rich Mix Culiu¥al Foundalion Ilhe'chartlable parent company'l and ils subsidiary Ilhe 'group'l for the year ended 31 March 2Q22 which the comprise the group statemènt of financial aclivilie5, the group and charitable parenl company balanc9 Sheets and the group stalement of cash lows, the principal accounting policies and the notes lo the financial slalowents. The financial reporting framewoik that has been applied in their proparalion is appI￿abl& law and United Kingdom Accounling Standards, including Financial Rèporting Standard 102 'The FinanLldl Reporting Standard applicable in Ihe UK and Republic of Ireland, (United ￿.￿gdoM Generalty A¢¢epled Accounting Practice). In our opinion, the finan¢ial s18lemenls.' uive a Irtte and fair view of th¢ siale of the group's and of the charitable parent company's 8Nairs as al 31 March 2022 and of the group's income and expenditure for the year then tsnded., have been properly prepared in accordan￿ with United Kingdoirn Generalty Aecepled Accounting Piaclioe,. and have been wepared in accordance with the raquirèmenls of the Companies Act 2006. Basis for opinion We conducted c>ur audit in a￿ordanCe with Inlornalional Standards on Auditing (UK) IISAS IUKII and appliLitble18w. Our responsibilities under those standards aré further described in the audiloff s responsibilities for the audit of thè fifjancial stalemEn15 section ol our report. We are IndO￿￿￿ent of the group in accoidance with thè ethical requiremen15 that are relevant tcp our audit ol the financial slalemenls in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We bElieve that the audit evidencè we have (Ibtained15 sufficient and appropriale lo provide a basis lor ou¥ opinion. Conclusions relating to yoing concern In auditing the linanclal slalernenls, we have Concluded Ihat the Tru51Ees' use of the going coneèm basls of accounting in the preparation of th& financial slalemènts is appTopriale. Based on the work we havè performod, we have not identffjed any material uncertainties relating lo events or conditions that, individually or CDlleclivgly, may cast signtfieant doubt on the group and charitable parènt company's ability to continue as a going concèrn for a period ol at least Iwolve months from whgn the finar¥cial slalemènls aig aulhorised for issye. Our responsibilities and the rèsponsibilities of the Trustee8 with respect to going concern are described in the relevant sections of this rèport. other infomiation Thè Tru51ees ale iesponsible for the other information. Th8 other information eomprlses the inlormation included in the annual report and finaneial statements, other than the firiancial slalements and our auditorfs report Iheieon. Our opinion on fhe financial statements does not cover the other inforrnalion and, except lo the exlenl otherwise explicitly staled in our report, we not express any form of assurance conclusion thereon. In connection with our audit of thè financial slalements. oui ro8pon8ibilily is to read the other information and, in doing so, ¢onsidpr whether the olhor information is materially trnconsislenl with the rinancial statemenls or oui knowledge oblalned in the audit or olhèrwise appears to be materially misslaled. If we identify such material ineonsislenaes or apparenl Thaleiial rnisstatements. we are r8quired lo determine whether Ih&re is a material misstaletnenl in the financial statéments or a matèrial misslalernenl ol the other inlorm81ion. If. based on the work we have perf(>rmed, we conclude that there is a material mis8lalement of Ihis other inlomialion, we arg required lo report that fact. We have nolhlng lo report in this regard. 18 RICH MIX CULTURAL FOUNDATION IA Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF RICH MIX CULTURAL FOUNDATION Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work underlaken in the wuise Of the audit.. the inloimalion given in the Trustees, report, which is also thé dir8Ctors' report for the purposes ol company law, for the linana31 year for which the financial slalemenls are prepared is consi51enl with the financial stalemenls,. and the Trustees. report, which is also the directors, roport forlhe purposes ol company law, has been wepar8d in aceordance with applicable legal requiiemenls. Ilqatters on which we are requlyed to report by exceptlon In the light of thè knowledge and understanding of the group and the charitable parent cornpany and ils environment obtainèd in the course ollhe audit. we have not identified material rnisslatemenls in the Trustees. report. We have nothing lo report respec( of the following mallers in relation to which the Companles Act 2006 iequiios us lo report to you il. in our opin￿￿.. adequate accounting rècords have not been kept by the charitable parent company, or returns adequate for our audit have not been re￿IVed from branches not wslled by us.. or the charitable parent company finan￿al statements are not in agreement with the aocounling rewrds and retuins,. or certain disclostsreg of Trustees, remuneraiion specified by law are nol made., or we have not ieceDied all the infoftnalion and explanations we require for our audit. or the Trustees were not entitled Ic) piepsre fhe financial statements in accordance with the small companies regime and lake advantage of the srnall COlnPdnies' exemptions in preparing the Trustees, report and from the requirement lo prepare a slralggic report. Responsibilities of Trustees As explained more fully in the Truslee8' re8ponsibilitSes slatemenl. the Truslpes (who aré also the dirpctors of thé charitable company for the puiposos ol company lawl are responsible for the preparation of the financial stalernenls and for being satisfied Ihal they givè a true and fair view, and for such internal control as the Trustees determine is necessary lo enahlp the prèparation of financial slalements that are free from maleiial misslalement, whèther due to fraud or eNor. In prepaTrng the financial statements, the Truslpg8 are responsible lor assessing the groLlP'S and tho charitable parent company's ability to continue as a going concein, di5cknsing, as applicable, mallers ielated to going concern and usinq the going concem basis of accounting unbss the Trustees either intend lo liquidate the group or the charitable parent ¢ompany or lo cease operations, 01 hav8 no iealisllc altemative but tD do so. Audfto￿s responsibilities for the audlt of the flnanclal statements Our objectives are lo obtai¢7 reasonable assurance aboul whether the financial slalements as a whole are free from material misslalemenl. whether due lo fraud or error, and lo issue an audil(JVs report that includès our opinion. Reasonable assuran¢o is a hlgh level of assurance, but is not a guaianlee that an audit conducted in accordance wilh ISAS IUKI will always detect a material missialemenl when it exists. Misslalemonls can arise from fraud or error and are considèred material if, indniidually Of in the aggregate. they could ieasonably be expected to influence the econotnic decisions of users lakeri on the basis of these financial slalementg. Irregularities, inclltding fraud, are inslances of non-cornplianco with laws and regulalions. We design procedures in line with our responsibilities, outlined above, lo dotecl rnaterial misstatements in respeel of irregularities, in¢luding fraud. The exter)I lo which our pioc8dur8s arè eapablè of delecling ITfggularilies, including fraud is delailod below.. To addiess the risk of fraud through management bias and Ov￿r1d? of contmls, we.. Perfoimed analyli¢al proctrdurés to identify any ullusual 01 unexpeded ielalionships., Tested and reviewed joumal enliie5 10 identify unusual Iransaclions.. Tested aulhorisalion of expenditure; 19 RICH MIX CULTURAL FOUNDATION IA Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RICH MIXCULTUPAL FOUNDATION Audito￿$ responslbilities for the audit of the financial statements l¢ontlnuedl Assessed whelherjudgemenls and assurnplions rnade In delermining the accc*unling èstimates were indicative ol potential bias., and Investigated ialiollale behind signffic8nl or unusual Iransactions. In resptsnse to the risk of irregularities snd non-eompliance w*lh laws and regulations, we designed ocedures which included but were not litlliled lo.. Ensuring that Ihg engagetnent team colleclively had the appiopria18 competencé, eapabililies and skills lo idonlify or recognise non-compliance with applicable laws and regulations., Identifying the laws and regulations apPI￿#ble lo Iha charitable company through discuss￿n8 with management, and Irom our commercial knowledgo and experience of the sector,. Ensuring Ihal the identtfied laws and regulations were cornmunicaled withln the audit tèam regularty and the team remained a￿rt to instan￿S CTrf non-compliance throughout the audit., Focussing on specific law8 and regulaltons which we considered may have a direct material effeet on the accounts or the activities of the ¢haiily. These inoluded bul were not limited lo re￿vant finanual reporting standards, the Chaiilies Ad 2011 and the Cotnpanies Act 2006.. Agreeing financial slalomenls dlsclosures to underlying supporting docump.ntalion', Reading the minutes Df Iruslee meglings., and Enquiring of as to actual and potential liligalion and olaim8, There are inherent limitations in Qui audit procedures described above. The more femovÉd that laws and regulations are frorn finan¢ial Iransactlons, thè less likely it is Ihal we would become awaie of non-oomplicince. AUdit￿g standards also limit the audit procedurÉs required to idenlify non- Complian￿ with laws and regulath)ns lo enquiry of thp Trustees snd other management and the inspection of regulatory andlegal corrÈspondenee, if any. Material misstatements th21 arise due lo fraud ¢an be harder lo delecl than Ih08e that arise from etror as they may involve deliberale concealrllenl or coJlu8ion. A further de8criplion of our iesponsibilities for the audit of the financral slatomonls is located on th Financial Reporting Gouncil's website al www.ffc.oig.uklaLKlitors￿Sponsibl1Itie$. This description forms part of our audilorfs report. Use of our report This report is made sokly lo the charitable company's members. as a body, in accoid8nc& wtth Chapter 3 of Part 16 01 the Cotnpanies Act 2006. Our audit work has been undertaken so that we might stale lo the charitable company's mernbeKs those mattérs we are required to state to them in an audilo¢s report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assum¢ responsibility to anyone othe¥ than the charitable company and tho oharilablB company's members as a body. for our audit wotk, for this report, or for the opinion5 we have formed. Catherine Bis¢oè (Senior Stalulory Audilorl FDr and on behalf of Buzzacoll LLP, Stafvlory Auditor 130 Wood Street London EC2V6DL Date.. 17 October 2022 20 RICH MIX CULTURAL FOUNDATION IA Comparty Llmited by Guaranteel Consolidated Statpmont of Flnancial Activities lincluding the income and exp8ndsturè accounti For the year ended 31 Mar¢h 2022 G￿n￿ra1 ruthls 2D22 DeE￿nated Re61ti¢ted Tota Tt*41 2022 2422 2022 2021 Noios In¢oMÈ Trom.. Grnn13aThd donbbon$ comnier￿al ife¢knJ oparaVons ItweslmenlE 518.$4Q 608.B74 88&,736 f,437.276 6OB,874 117 680,201 E2,546 2,769,015 1.839.141 10S,è77 6￿,202 82.546 1,8BO.289 622.2EO 444.8U 3,012,448 O1hÈrl￿ffl T)iai è&8.736 EXPèlldltvrO R&singhmds eowm¢rc49lliadSw opDrallans Ch*iiable Toiol 90.936 636.787 1,16B.786 g,888.509 7,332 559 88,527 636,747 $23,W6 1,777.*6 2,379.228 485,886 493.218 373.544 374,103 2.733,8JO Net kn¢om¥l(gXpgndltu￿) 12,7eQ 36,190 e33,220 Tran6fetsb8WTh tulds 14,42t Not MfJv*m$*tlr* fvnd$ 1J,78D {507,S391 $29,054 633.2ZO R$¢¢n¢lllallw ol I￿ndS.. Tolalfuwlhl￿gh￿ I￿￿Z Yotatfunda cairfgd forward 12.8P4.¥83 f2.47B.944 424.784 ￿￿.8￿9 14,156,870 fJ.488,455 716,OB8 The Statement of Financial Aoliw118s includes all gains and losses wcognised in Ihe above Iwo financial yevisions are recognised whèn thère is an oblwation al the balance sheet dalo as a result of a past evenl, it is probable that a transfer of econotnic bBnefit will be required in selllemenl and Ihe amount of the 8etllèm&nt ean be estimated re5iably. Gredilois and provisions are recognised at the arntsunl the charity anticipatès it will pay lo sett￿ the debl. Thoy have beell discountèd to the present value of Ihe future cash payment where such di5COUllting is maleTial. Fund accounlirtg General funds Tepresenl those tnunie5 which are freely available lor application towards achieving any charitable purpose that falls wilhin the charity's objects. Desigiialed fund5 CQttbprise monies sel aside out of unrestricted gèneral funds for specific future purposes or ptojeds. Restricted funds ￿Mp￿se.. monies raised for. or wheie their use is reslri¢led lo, a specifio purpos& or conlribulion5 subject to donor-imposed conditions., and the nel book valuo of tangible assets where those assets are funded through rest￿cted gFanls or donations which require the charity to hold those assets on an ongoing basi8 for a specifi purpose. Operating lèase commitments Rentals payable under operaling leases are charged against expgndilur8 as irtcurrèd ovèr Ihe lease tèrm. Penslon ¢ommltm&nts The charity contributes to Iwo defined contribution pension schtrmes on behalf of its employees. The assets of the schemes are held Sepalate￿ from Ihose of the charSty In independently administered funds. The pensions oosl chargè rèpresenls eonlributions paid and payable by tho chaiity during thE year. Financial Instrum8nts The charity holds only basic financial inslrumenls as defined in FRS 102. The financial assels and liabilities of the ¢harily and therr measu¥ement basis are as follows.. 26 RICH MIX CULTURAL FOUNDATION IA Company Limltsd by Guarante&l Notes to the Financlal Statements For the year ended 31 March 2022 1. ACCOUNTING POLICIES Icontinuedl Financial assets Other debtors are basic financial Instruments and are debt inslrurnenls measured at atnortised cost, Piepayfflenls are not financial inslrumenls. Cash at bank Cash al bank is classified as a baslc financial instrumenl and 18 measured at kc6 value, Financial liabilitses Ac¢iuals and other cr8dilor8 are financial instruments and a¥e measured al cost. 2. INCOME FROPJJ GRANTS AND DONATIONS UnfestrtGtf Rqstrtctgd 2022 Totsi 2021 T(q 307,290 2Z4.935 307,290 228.¥39 BB8,736 2Q7,2¥Y) 1,29S,gOI 307.2 1.2BS.90S 237.250 7.7( 1,889,141 ACE EmeEg8ncy RaSwsglC￿lu1¢ RBci)very Fund othe[g￿nI￿recO1¥Qd MlloTr5 VoiuThthry In¢Offl• B88,736 237.250 12,J15 648,540 7.7 l.WJ1.J91 818,YJ6 q,437,27e 237.250 Details of oth8r grants re￿iVed are shown in Nol& 20. 3. COMMERCIAL TRADING OPERATIONS AND INVESTMENT IN SUSIDIARY The wholly owned trading svbsidiary, Rich Mix Cultural Enterprlses Lirrkilgd, company number 05719450, which is incorporated In thg UK, pays <111 ils taxable prolils lo the chaiity by Gilt Aid. Rich Mix Cultural Enterprises Limited operates Rich Mix's cinema programme, commercial evenl hirps and bars. Th8 chaiily owns Ihe enttre issued share capital ol one Share of £1. Summary profit and loss account 2022 2021 Tumov6r Co$t of sa￿S and adminis￿81￿@ expenses Olh8r operating Income Managetnent charges Nut proflvllossl Amount gift8d to charliy Corporation tax Inlar&81 r8c8ivabb and 5imilsi income Retained in the subsldlary 608.874 105.977 1488,7161 1460,0971 61.317 310,527 1148,07ti 182,èSg1 33.404 1108,5521 16 33.420 22 1106,5301 Other op8rallng Income relates lo amounts received undor lh6 govarnmenfs Coronamnts Job R8tenb"on S¢hemg. 27 RICH MIX CULTURAL FOUNDATION IA Company Limited by Guarantee) Noles to the Flnanclal Statements For the year ended 31 March 2022 3. COiVIMERCIAL TRADING OPERATIONS AND INVESTMENT IN SUSIDIARY {continuedl Summary balance sheet 2022 2021 Current as$8ls 349,650 241.614 1421,6111 134G.99Jl 171.9611 1105,3811 Capltal and re$owves 4. INVESTMENT INCOME 2022 2021 VnrestriGted Bank Interest re￿1vable 127 301 5. INCOME FROM CHARITABLE ACTIVITIES 2022 2021 Unrestricted Ticket sales and fees Rental Income and $&[vI￿ charges Othe¥ incom& Tolal inGomo from Gharitable activities 50.803 609,063 336 3,028 615,070 4,122 622.220 660,202 6. OTHER INCOPIIE Other inctsme relates to amounts received by the charity of £1,22912021'. £134,282) and Its trading subsidiary 01 £61,31712021'. £3fj0,5271 under th& governmènt's Coronavirus Job Retentitsn SchÈm8. 7. EXPENDITURE ON RAISING FUNDS Genfyral Dg519n3ted Re5triGted funds funds funds 2022 Total Dir8d casEs (Nat£ 91 Support costs INole 101 Tot31 ex endlture 8,329 S2,607 60,936 6,329 80.49B 68,827 7.332 7,332 559 559 Geneial DesvJnated fund5 runds Reslricted funds 2021 Total Dlrecl costs (Note 91 Support costs IN018 101 rotal expondlturg 8,188 70,000 78,185 8,186 70,000 78,186 28 RICH MIXCULTURAL FOUNDATION IA Cotnpany Llmlted by Guarantee) Notes to the Finan¢ial Statoments For the year ended 31 March 2022 8. EXPENDITURE ON CHARITABLE ACTIVITIES General DBsignatÈd Restrlcted funds funds funds 2022 Total Dir&GI CDsls (Note 91 Support Costs (Note 101 Total expendlturg 644,761 524,025 1,168.786 346.174 27,370 373,544 990,935 1,037,281 2.028,216 485.886 485,886 General Designated funds funds Reslri¢ted runds 2021 TDtal Diiecl costs INOIR gi SuppDrt Eosts {Nole SOI Total expèndlture 897,853 475,174 1.173,027 162.279 5,136 167,415 860,132 917,854 1.111,986 437.544 437,544 9. ANALYSIS OF DIRECT COSTS Ralslng Charitablg funds actlvltles 2022 Total Allocatlon lor tho yearended 31 MarGh 2022 Live programme Great￿ e)gagement Staff costs Property costs Marketing Capikl pro]e Total 2022 61,094 48,202 782,294 45,690 25,951 27,704 990,935 61,094 48,202 790.623 45,690 25,951 27,704 999,264 8,329 8,329 Ralslng Charitablo funds actlvltles 2021 rotal Allo¢aYon for the year ended 31 Mar¢h 2021 Live progr&me CrealNè Èngagement SlaNcosls Property Gosts Mark81ing Capitsl project Total 2021 6Q.563 37,800 e52,054 53.5 20.933 35.229 860.132 60,563 37,800 e60,240 53,553 20.933 35,229 868.318 8,186 8.186 29 RICH MIX CULTURAL FOUNDATION IA Company Limited by Guaranteel Notes to the Financial Statements For the year ended 31 March 2022 10. ANALYSIS OF SUPPORT COSTS Ralslng Charltable fuwbds actlvitles 2022 Total AIIoGatlon for th? year ended 31 Marsh 2022 Siaff costs Managemsnt and 8cltnlnlstrallon PrDpety costs Deprec￿lk¥￿, 8tnotii5alk)n and dlsposals of f￿xed assets Total 2022 44,209 1.154 S.638 8,055 60.498 138,104 56,550 276.253 495,717 1,037.281 IB2,313 57.704 281.891 503,772 1,097.779 Raising Charitablo fund5 2021 Total Allocatlon forthe year ended 31 MarGh 2021 Stsff costÉ Management &nd admlnisl1a￿n Offi¢e tosts Property cos18 DepieclalloTr and wrlte off of flxed asse Total 2021 54,653 1,090 1,448 4.842 7.987 70,000 123,281 53.395 66,441 220.427 454.31 D 917.854 177,934 54.485 67.889 225.269 462.277 987,854 Managèment and administration costs include governance costs of £30.853 (202f'. £23,029). 11. NET EXPENDITURE BEFORE TRANSFERS This is slated after charging.. 2022 2021 D8preci81ion AmoEtlsallo Auditoffs r8mun8ration- chartly A￿dI10rfS reMU￿e[allOll- trading sUbs￿lary 401,864 895 10,725 2,650 398,327 10,300 2,545 12. STAFF COSTS AND TRUSTEE REMUNERATION Group 2022 Group 2021 Charlty 2022 Charity 2021 Wages and salarles R8dundanGy G05t5 So¢lal securily cosls Pen51orE contrbvlk)n5 1,057,799 1.037,454 11.359 73,835 17.259 1.139,907 812,179 636,308 8,877 57,560 12,493 715,238 79,153 24,074 1,161,026 65.549 15,271 892,999 The average number of full-limo equivalonl employees on the payroll during Ihe year was as follc>ws'. 30 RICH MIX CULTURAL FOUNDATION IA Company Llmltèd by Guaranteel Notes to the Financial Statements For the year ended 31 Nlarch 2022 12. STAFF COSTS AND TRUSTEE REMUNERATION Icontinuedl 2022 2021 Charity Rth Mix Cultural Enterpri￿S Llmlted 25 19 23 24 47 One Truslpe h38 been paid remunèration for èmployment within the charity, in accordanco with the Memorandum and Articles of Association of the charity, dalfjd 25 Sepletnber 2001. and amended by Spécial resolutions on 20 May 2002, 25 October 2010 an(121 March 2022, whkh appointed the role of CEO lo the Board of Trustees. In her role as CEO, Judith Kilvinglon received gloss pay of £62.242 and employer pension conlribulions of £7,368. Thore were no other benefits within the remuneration. Comparative figures for the year ended 31 March 2021 are nol shown because the appo¢nlrnenl of th6 CEO as a Trustee took place after the year end. Except as noted a￿Ve, no ernployee Earned more Ihan £60,000 (excluding employer penS￿n conlributions) in the year ended 31 Maich 202212D21- noné). The dlarity contributes lo Iwo defined conlribulitjn pension 8chÉmes. At 31 March 2022 there were 50 etnployees12021.' 431 with retirement benefits accruing under Ihe5o sohgmes. The key management per8onnpl of the charlty and Èts Irading subsldiary are the Chief Executive Officer, Deputy CEOIHead of Marketing and Corntllunicalions, Head of Findnce, Head ol Cinema and OpÈr8tions and Head of Events and Production. The lolal ornployee benefts, including pension costs, of the key managemont personnel were £268,551 12021= £246,815). Other than as noted above, the Trustees weie not paid and WEfe not reimbursed expenses during the yèar or the prior year by the charity OT Ils Iiading subsidiary, None ol the Trustees receNed paymenl for professional oi othei seivices supplied to the chartly during the year12021'. £nil}. 13. TAXATION Rich Mix Cultural Foundation is a registered charily and has no liability for CoTporalion Tax. Ils wholly owned Iradinq subskdi8ry, Rich Mix Cultural Enlerprises Limited, passes profits on which lax would be payable lo the charity under Gift Aid. 31 RICH MIX CULTURAL FOUNDATION IA Company Limited by Guarnntèal Notes to the Flnanclal Statements For the year ended 31 March 2L122 14. TANGIBLE ASSETS- GROUP AND CHARITY Freghold Equlpment, and long Ilxturos and leaseholil flttÉngs prop&rty Total Cost At 1 April 2021 Additions Disposals Al 31 March 2022 17,343.036 778,812 18,121,e48 541,176 314,148 855,324 110,7851 1273.5291 1384,3141 17.773,427 819,431 18.592.858 08preciatio Al 1 April 2021 Charge for the year ￿￿P0s￿l$ Al 31 M0rGh 2022 4.477,520 676,785 5,154.305 344,645 57.219 401,864 119,3571 1263,9441 1283,3011 4,802,808 470,060 5,272,868 Net book value At 31 March 2022 Al 31 Mar¢h 2021 12,970,619 12,865.516 349.371 13,319,990 102,027 12,967.543 15. INTANGIBLE ASSETS- GROUP AND CHARITY Software C08t Al 1 Aprll 2021 Aik11bons Al 31 IharGh 2022 8,950 8.950 Depreciatlon At 1 April 2021 charge for Ihe year At 31 March 2022 89S 895 Net book value Al 31 March 2022 Al 31 March 2021 8,055 16. STOCKS Group 2022 Group 2021 Charlty 2022 Charity 2021 Cinema and bar stocks 11,2eB 2,974 32 RICH PJIIX CULTURAL FOUNDATION IA Company Limlted by Guarantee) Notes to the Flnan¢lal Ststements For the year ended 31 March 2022 17. DEBTORS Group 2022 Group 2021 Chailty 2022 Charity 2021 Trade debtor8 Prep8ymeals and accfued incom8 Olherdebt¢xs Amount owed by subsidiary 74,071 53,185 44,598 97,811 197.977 10.007 63.913 49,923 73.437 235,572 422,845 79,366 174,014 9.395 171,B52 305.795 262,7T5 18. CREDITORS Group 2022 Group 2021 ChaTity 2022 Charity 2021 Trade ciedltors CBILS loan Taxes and social securily costs Accruals and deferfed Income Amount owcd lo subsidiary Olh&i Greditors 190,120 90.443 250,(K>O 112,860 201,816 144,689 85,062 30,193 195.504 q7,681 144,979 103,646 58.002 159,982 86,189 592,881 169,715 585.532 124.976 779.894 125,355 432.704 The loan of £250,(X)O drawn down from National Vveslminsler Bank PLC under the governrnent's Coronavirus BusirTress Inlerruptson Loan Scheme WdS repdid in June 2021, 19. OPERATING LEASES- GROUP AND CHARITY Al 31 March 2022 the charity had the following future minimum commilm8nt5 und8r non-cgncellable operating leases. 2022 2021 Office equipmgnt.. Wllhln one yegr In two to fiv6 years 2.400 1,700 4.100 2.40D 4,100 6.500 33 RICH MIX CULTURAL FOUNDATION IA Company Llmlted by Guarantee) Notes to the Flnan¢lal Ststemet)t$ For the year ended 31 March 2022 20. RESTRICTED FUNDS- GROUP AND CHARITY J1131 Plarch 2022 In¢¢mts Exwndiiuro TranstA ProJgtlgrllnts Acg Hara and Now Allan TN Bac￿¥@Tn￿t Land ¢gnaryWharf ¢ied1tAgri￿e Eank 1,000 1,000 75D 75Q 3,782 2.500 5,000 7,000 I,OOD 5.000 50,ts)0 15,ts)O EO,616 IQ,L4JD De￿￿TrI Loth Fwd 000 5,000 LBTH hl£yolBLunElnes5 Fund LBYH 8ack &r¢4$ M*fgHik* KilbEIy NÈllth4 LdteryAwafd$forAI Thg vMalTtUSf TP14MESArtsEdwOoTr Fund Tr4Va[s Sfflllh Londoners Fund 2,896 9.891 I1,￿0 5,000 42,43Y 47,8e4 40,976 Flx•& assots ACE Cul￿￿ R￿Cl￿Ory Fund I GLA GwdGn)wJlh Fund eaiiÈs fru611Vk11son FwndaU¢n 106 Fund 33,a62 064,445 664,445 11.158 1442f 16.659 Dlhgrgrants ACE cultu￿ RpciwBry Fund 1- pr¢pÈFiyand$Ustalnab￿IY Assured UK Llnknied D0p2rtmenl￿rWI￿ and Pen￿ll￿5 SLAG￿GrOw￿￿ Fulld 294,106 15,llQO 9,736 326 424.781 888,736 963,438 34 RICH MIIIX CULTURAL FOUNDATION IA Company Limited by Guarantee) Notes to the Financlal Statements For the year ended 31 March 2022 20. RESTRICTED FUNDS - GROUP AND CHARITY Icontinuedl Al 1 Aprfl 2020 A131 Mar IncoTn Exp8ndlWr8 TtsnStÈrs ProJ&ctgr&ntS ACE N(%¥ ACE FuL￿reA￿ScEntre¥c0￿￿￿s￿Dn Alan TNst EaL*¥tsgeTwBI E￿lISh Land C£n&ryVdhert Ci#oilA9rf&￿¢ Bank OephPnl London CornmunKy Fund Mwgai$l KIl￿*ry N£iional Ldt£ry CelÉDra Na￿￿al L￿￿ry Fund Nau￿al U￿bryA￿a￿SIor￿Jl sa￿ FouTrdallon Th8 p￿￿lTr￿si StrJuhn Ca56 Found£ionl THAklESAtL&l"ikn4YDll F￿d YOU￿ LoDthnetsFuRd 10,(YJO ),￿0 p.(wi {¥oJwi 3.782 I2,5￿> 5,ODO 4,000 2,0￿) 12,(W) Qui 140,(th1 40,(1)O 9,894 9￿? e27 (0271 18,835 6.658 47,865 110.9861 42.437 Flxt& ACE cuiiuie Re¢ov9ry FU￿ 1 The*tP5 YwsWlson Fowd81 11.136) 14.Lth) 34,988 33,862 19.6$9 19.659 Othèrgrants ACE Cuiiura Rewv9ry 1-wWy4Ddsustalnabllty Ci&allvg LandT￿ GLA GwdGiovAh FuDd 2W,106 294.100 9,706 19.7WI lJS2*Jl 35,848 237,250 329,104 434.784 The purposes tsf the reslricl¢d funds are as follows.. Project grants ACE Here and Now To 8UPPOrt a national programtne ol commissions celebraling the National Lollery's 251h Anniver$8ry To support the New Crealwes Programme To support the New Creatives Programme To support the Families and Communities Programme To support the Pic'n, Mix Education Project To SLJPPOrt the Livo Programme To support the Families and Communities Programme To support the Pic'n. Mix Education Project To support Ihe Crealive Engagement Programme To support Rich Mix Resonates Piogramme To support the Community Murals Pioje¢t To support the New Crealives Progrsmmo To support the Families and Comrnunilies Progiamme To support the Pic'm, Mix EducAtK>n Project To 5UPPOrt the Pic'n, Mix Education Project To support the Pic'n, Mix Eduealion Project To support the New Creatives Programme Allan Trust BaEk51age Trust Brilish Land Canary IWail Credit Agricole Bank Denlons Derwenl London Communty Fund Garfiekl Weston Fovndalion LBTH Mayor's Lon81in85s Fund LBTH Wekome Back Hlgh Streets Maig3rel Killbery N2tion81 Lottery Awards for All The PDrtal Trust THAMES Arts Education Fund Travers Smill) Young Londoners Fund 35 RICH MIX CULTURAL FOUNDATION IA Company Llmlted by Guarantee) Notes to the Financial Statements For thè year onded 31 March 2022 20. RESTRICTED FUNDS- GROUP AND CHARITY Icontinuedl Fixed a5sèis The f￿ed ass¢1 funds represent the nel book value of equipment funded by the ACE Culture Recovery Fund 1, the Theatres Trusuwolfson Fovndalion and the Section 106 Fund. and the Capital Project funded by the GLA Good Growth Fund. During the year. depreciation was charoed against these funds as follows.. ACE Culture Recovery Fund 1- £23,92912021.. £1,136) Theatre TrustlWoEfson Foundation - £4,000 {2021'. £4,(￿0) There was no chaige against the other funds as the assets were not brought into use until April 2022. Other grants ACE Culture Recovery Fund 1 To support th& ¢osls of property and training in stjsiainabilily and diver511y To support the ¥efurbishmenl of Rich Mix Kickslart Scheme - jobs for young pèople al risk of long-leim nempltryment To support miscellaneous costs r8latsng Its the refurbishment of Rich Mkx Assured Guaranty UK Limited Oepartmenl for Work and Pensions GLA Good Growth Fijnd Transfers Durillg tho year an amount of £14.421 was transferred from the de8igfialed Seclion 106 Fund to 811PPOrt investment in the Rich MIX building. 21. DESIGNATED FUNDS- GROUP AND CHARITY At31 Marth 2922 2021 Exp¢ndllur TraDstors Idlng Fund FI￿d As88lFuThd ll￿Fund Tothl dgslfjnatsd funds I2.¢65￿15 28.910 *ts,156 12,gB4.683 1436P731 12,429M42 (28,rJsi 149J,21&1 47,502 At l April 2Q20 Al 31 March Incorn• Éxpenditsi¢ TrsnsfBis B￿ld￿l Fund F￿dAsS￿lFu￿d Se¢UoTh Fund Yotsl dgilgn&tedfuTrdy 1408.8341 57,830 90,158 28.91 £0,168 12.984.583 Buildin Fund The building fu￿ repr￿entS the net book value ol ffeehold and leasehold land and buildlngs. Annual deprecialion is charged against this fund. Fixed Asset Fund The fixed 8ssel fund repiesenls the net b(>ok value ol equipment. fixtures and fittlngs lunded by third parties. Annual depreciation is charged against this fund. 36 RICH MIX CULTURAL FOUNDATION A Company Limited by Guarantee) Notes to the Financlal Statements For the yèar ended 31 Wiarch 2022 21. DESIGNATED FUNDS- GROUP AND CHARITY Icontinuèdl Seclion 106 Fund Under an Agieemenl dated 25 September 2015 between the London Borough of Tower Hamlots and Rioh Mix il was agreed that the balance of funds received under th6 cvllufal aspects of a Séetion 106 payment aiising frorn a nearby res￿entIal devetopmenl could be used for the following purposes.. lo increase fr66 8t tha point ol entry cultural oulpuls which should specifically largel local rÈsidents or local schoc)(s', capacily building within Rich Mix in rèlation tts its own fundrsising capability- andlor to mitigate any capital liabllitles specifi¢ lo the Rich Mix building. Funds of £42,656 induding transfers lo restricled funds of £14.421 have been utilised during the year to ¢over stsme of the costs ol the capital projeot12021'. £nil). 22. GENERAL FUNDS- GROUP Atl Aprll 2021 At31 MAr¢h 2022 In¢oM& Exp¢ndltur* Tran$lvr Qrou Y02AD6 716,08B All￿1 ZQED Al 81 Ma[f IrK*mtt E4)EndI￿rth T￿5[￿ra Group 30.483 E.775.198 11,774.269} 1329.104} 702.W8 37 RICH MIX CULTURAL FOUNDATION IA Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 March 2022 23. ANALYSIS OF NET ASSETS BETWEEN FUNDS At 31 March 2022 Unrestrlcted Unre5trlcted Restricted deslgnated genèral Total Group Fixed assets CuNenl as5818 Cutrenl liabilities 861,543 12.429,442 Bl,995 47,502 16.760 13,328,045 1,284,860 1.414,357 15B5,5321 1585,5321 716.088 14.156,870 963,838 12,476.944 Unrestricted Unrestrlcte Restrlcted designatèd general Tolal Charity Fixed assets Current assets Currant liabllll￿$ 881.843 12,429,442 81.995 47,SD2 16,761 13,328.046 1.203.992 1,333,489 1432,7041 1432,7041 788,049 14,228,831 963,838 12,476.944 Al 31 March 2021 Unresliicled Unrestricted Reslricled dBsigRaled general Total Flxed a$se15 Curr8nl as88ls 49,521 12,894,425 385,263 go,158 23.597 12.967.543 1,458,605 1,934,026 1779,8941 (779,8941 702.308 14,121.675 434,784 12,984,583 Unrastr￿l8d Unreslricl8 R881[￿ted doslgnalad general Total Charfty Fixed assets Cuffenl assets 49,521 12,894,425 385.263 90,158 23,598 12,987,544 1,376,973 1.852,394 1592.8611 1592,8811 8D7.690 14,2?7,057 434,784 12,984.583 24. RELATED PARTYTRANSACTIONS Other than transactions with the trading subsidiary. the￿ were no related party transactions Lfuring the year {2021- non8 . 38