**aCompany Registration Number 04498181 Registered Charity Number 1094134**
**PYRAMID OF ARTS** (A COMPANY LIMITED BY GUARANTEE)
# **REPORT AND ACCOUNTS For the year ending 31 March 2022**
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT** _**For the year ended 31 March 2022**_
The Trustees, who are also Directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered charity name** Pyramid of Arts **Charity registration number** 1094134 **Company registration number** 04498181 (England and Wales) **Registered office** Unit 68B, Barkston House, Croydon Street, Leeds LS11 9RT
## **Trustees**
For the purposes of the Companies Act 2006, the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report.
The Trustees of Pyramid of Arts during the period and to the date of signing this report are as follows:
Mrs R A Lehany (Chair) Mr L J Hirst (Vice Chair) Ms A J G Andrews Mx A-M Atkinson Ms L D Buchan Mr M Carter Resigned 22 September 2021 Ms D Hart Mr A Marshall
**Company Secretary** Mrs S Cockburn
**Bankers** Co-operative Bank plc, PO Box 101, 1 Balloon Street, Manchester M60 4EP
CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Maling, Kent, ME19 4JQ
**Independent Examiner** Mr P O’Hara FCA, Chartered Accountant, 4 Stoneyhurst Road West, Gosforth, Newcastle upon Tyne NE3 1PG
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE)**
**TRUSTEES’ REPORT**
_**For the year ended 31 March 2022**_
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)**
## **Governing Documents**
Pyramid of Arts (Pyramid) was originally established as a charitable project of People in Action (Leeds), before becoming independent in 2002.
Pyramid of Arts is a charitable company limited by guarantee, incorporated on 29 July 2002 and registered as a charity on 10 October 2002.
The charity is controlled by its governing document, its Memorandum and Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act.
The Directors of the company are also Trustees of the charity.
Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law.
## **Charitable Purpose**
Pyramid of Arts’ charitable objects are to promote any charitable purpose for the benefit of people with learning disabilities or which promotes the integration of people with learning disabilities into society as a whole and, in particular, to:
- Encourage the integration of people with and without learning disabilities through the medium of the creative arts;
- Create communities of artistic interest which include people with learning disabilities; and
- Educate people with and without learning disabilities in communication and group working skills and about the creative arts
## **Structure and Governance**
The charity currently has a Board of 7 non-executive Trustees. The Articles of Association provide for a Board of Trustees comprising no fewer than three, but no more than nine individuals who are members of the company. New Trustees are elected by the members of the company at the Annual General Meeting.
The Charity also has a ‘Members’ Council’ – a delegated sub-committee of the Board of Trustees made up of members with learning disabilities, who have the same voting rights as Trustees but no liabilities.
The Board of Trustees, acting by simple majority, has the power to co-opt persons as additional members of the board provided the maximum number of trustees is not exceeded. Such co-opted members remain in office only until the next Annual General Meeting.
The Board meets a minimum of four times per year or more frequently if the need arises.
Detailed written Board reports and an agenda are prepared by the Director and circulated in advance of meetings. Each meeting considers finance, organisational development, health and safety, service delivery and the charity’s risk register.
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT**
_**For the year ended 31 March 2022**_
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)**
## **Recruitment and Appointment of Board of Trustees**
Trustees are elected to the Board based on discussions and recommendations offered by Trustees and outside advisors to the organisation, as well as through a range of advertising channels.
## **Trustee Induction and Training**
New Trustees are inducted by the Chair of the Board and Director and are provided with a range of resources to support their understanding of Pyramid activities.
## **Grant Making Policy**
The charity does not currently engage in grant-making activity.
## **The Contribution of Volunteers**
The charity makes extensive use of volunteers within its productions and to support its activities.
## **Risk Management**
The Trustees confirm that Pyramid of has a risk management strategy in place which comprises:
- a quarterly review of the strategic (governance, operational and financial) risks the charity may face via the annual business planning process
- a rolling review of all policies and risks throughout the year, reflected in regular updates
- the establishment of systems and procedures to mitigate those risks identified
- the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are in place.
The Trustees consider the key risks facing the charity at this time to be the inability to attract sufficient income or to be overly reliant upon a single source of income. Financial and operational plans are reviewed regularly to ensure that a diverse range of income streams can be attracted.
The Trustees also manage the general financial risks arising by ensuring that:
- Prudent budgets have been set for the next financial year
- The charity maintains a low cost base
- Regular management accounts are provided, showing the performance against budget
- Contingency plans are in place for the actions which would be taken if income appears unlikely to reach its target
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**PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT** _**For the year ended 31 March 2022**_
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)**
## **Reserves Policy**
The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission.
The Trustees aim to firstly hold a level of unrestricted Reserves which enables the charity to have sufficient financial resources to meet various liabilities which would crystallise if Pyramid’s funding were to be withdrawn and/or it were unable to continue operating.
At present, the Trustees estimate that the Unrestricted Reserves required for such purposes amount to approximately £63,000. This amounts to £51,000 to cover redundancy costs, notice periods and property liabilities, as well as £12,000 for an appropriately managed winddown of existing projects and groups so as to minimise any adverse impact for participants.
If possible, the Trustees then aspire to retain an additional allowance of £20,000 to enable the charity to respond flexibly to issues or appropriate initiatives which might be identified outside of its annual budgeting process.
The total unrestricted reserves required are therefore £83,000.
The charity’s total Unrestricted Reserves at 31 March 2022 are £102,723 (2021: £123,635).
However, we are also now beginning to raise money for a new building. With this in mind, we aim to raise up to £320,000 by 2028, additional to the £83,000 mentioned above. A Designated Fund has therefore been created, into which all donations since 2018/19 have been transferred and which stands at £23,286 at 31 March 2022.
Free Unrestricted Funds at 31 March 2022, defined as total Unrestricted Funds less any Designated Funds minus the value of Tangible Fixed Assets, are £58,802. The Trustees therefore aim to reach the aspirational level of reserves through their budgeting processes within two to three years.
This policy will be reviewed by the Trustees on an annual basis as part of the charity’s budgeting processes.
## **Investment Policy**
The Trustees have considered the most appropriate policy for the investment of funds and have decided that, given the sometimes significant demand on working capital, investment in the form of cash is the most appropriate policy. The Trustees have no specific ethical stance on investments held.
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**PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT** _**For the year ended 31 March 2022**_
## **OBJECTIVES AND ACTIVITIES**
## **Aims and Objectives**
Pyramid works to establish inclusive creative communities that engage and empower people regardless of their level of disability or disadvantage. It specialises in arts provision that includes people with learning disabilities, enabling them to work with the wider arts community and as professional artists in quality creative projects. Its emphasis is on collaboration and collective achievement.
The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006, which state that all charities must demonstrate that they are established for public benefit, and have had due regard to the public benefit guidance issued by the Charity Commission. The Trustees believe that the charity meets both of the key principles.
- Principle 1 - There must be an identifiable benefit, or benefits
- Principle 2 - Benefit must be to the public, or a section of the public
Pyramid invests in people with learning disabilities through the discovery, development and disruption of the arts.
Pyramid is a collective of around 120 artists with and without learning disabilities who work together to explore and develop their creativity, and to make great art for a wide public. This constitutes around 30 freelance artists and volunteers that Pyramid works with regularly to run its groups and around 90 artists with learning disabilities, approximately half of whom attend more than one group.
Pyramid recruits all participants on the basis of their active interest in or curiosity about the arts. Each regular group and activity run by Pyramid has a mix of freelance arts professionals, volunteers and members with learning disabilities.
Participation in the groups benefits all members, and benefits include:
- reducing social isolation
- improved motor, communication and social skills
- the opportunity to exercise a greater degree of personal choice
- pride in achievement
- a greater mutual understanding of people with and without disabilities and of the social nature of disability
The groups are also a great deal of fun, and, in many cases, friendships formed in the groups last for many years.
All volunteers and professionals are encouraged to take part in our training programme which has been developed over 30 years.
Pyramid increasingly also provides one to one support for artists with learning disabilities who wish to develop their skills in a particular artform, or for artists with learning disabilities whose support needs are such that they are unable to take part in group activity. One-to-one activity is currently provided for 11 artists with learning disability.
Pyramid’s beneficiaries are therefore entirely appropriate to its aims and the public as a whole benefits from its work.
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT**
_**For the year ended 31 March 2022**_
## **ACHIEVEMENTS AND PERFORMANCE**
## **Summary of the main achievements of the charity during the year**
We delivered a total of 1,044 sessions this year of which 587 sessions were group activity in our ‘Discover’ programme, and 457 sessions were one to one work in our ‘Development’ programme. We worked with around 100 artists with learning disabilities, many of whom attended more than one group or activity.
During this period our activity was still affected by the risk of Covid infection, and the possibility of restrictions on our activity due to changing government guidelines on infection control. Our activity was offered as a mix of face to face, remote and hybrid activity to allow people who were still selfisolating to be involved, and our public programme relied, more than usual, on the use of public open space, or on online sharing of work. Delivery of the final output of some of our larger projects was slowed by lockdown restrictions. However overall, throughout the period we returned to face to face work and began to programme more public indoor events.
While most government restrictions on social distancing were lifted on 19th July, we and our partners retained many infection control procedures and ‘bubbles’ continued to be used in partner venues, which limited the capacity of our membership.
Our Discovery groups continued to meet and work on projects which were often limited in their public reach because of Covid restrictions. As a result, many of our groups focused on developing particular skills. Our YoYos Group for young people with learning disabilities aged 8 – 18 looked at self-portraits and Japanese ceramics, and our Next Step Group (ages 18-25) spent a term focusing on watercolours and painting. Our groups created permanent work to adorn our own studio space, for instance our Legends Group (ages 55+) created decorative panels and garden ornaments for the exterior of our building, and our Eden Group (adults) created a brilliant new mural for the internal wall of the studio space.
We still worked in partnership and in the public realm where we could, even if the public output of the work was delayed until safer or more certain times. Our Eden Group worked with the Leeds City Council Town Hall team to produce work in response to the Heritage Lottery Funded restoration of the building and its pipe organ. This work will be displayed when the Town Hall reopens in 2024. They also produced a film in response to the Mel Brimfield Exhibition at The Tetley, which was displayed at The Tetley in this period.
Our Development Teams (individual artists with learning disability working with one other artist to develop their skills and practice) continued to make great work. Stephen Harvey and Alfie Fox had work selected for Leeds City Council’s major ‘Money Talks’ exhibition at the City Museum. Andrew Towse created ‘Ready for Take Off’, an exhibition and publication based on the Lincolnshire Aviation Heritage Centre and their Just Jane Lancaster Bomber. This exhibition was launched at Leeds Industrial Museum at Armley Mills in January and became our first physical, real-world exhibition post-lockdown.
Our resident noise-rock band Ultimate Thunder used Arts Council funding, remote tech and face to face recording of individual musicians to record their eponymous first album, which will be released in Summer 2022. They then returned to face-to-face work in our new ‘Music Hub’ project space.
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT**
_**For the year ended 31 March 2022**_
## **ACHIEVEMENTS AND PERFORMANCE (CONTINUED)**
## **Summary of the main achievements of the charity during the year (Cont.)**
Our work had an international reach. We were commissioned to take part in Cittadellarte – Fondazione Pistoletto’s Unidee Residency Programme, based in northern Italy, and delivered on a hybrid model, Pyramid presented on how their creative work helps to embed social change, to a group of artists and activists from across the world.
We also began our ‘Irregular Art Schools’ project this year, in partnership with the University of Leeds Faculty of Art History, Arts and Culture Studies. This programme involves five artists with learning disabilities from Pyramid working in partnership with the faculty, with an artist-led space in Leeds (Assembly House) and with an academic journal to explore what better professional development for artists with learning disabilities might look like. We honestly believe that these opportunities will be ground-breaking for the UK.
## **Financial Review**
The out-turn for the year is an unrestricted deficit of £(20,912) (2021: surplus £93,072). This leaves a balance on Unrestricted Funds at 31 March 2022 of £102,723.
## **PLANS FOR FUTURE PERIODS**
We are focusing on restoring our membership and involvement levels to pre-pandemic levels and returning to a full programme of public facing events. In 2022 we will begin to write our next Strategic Plan which will cover the period from 2024-2028, with meaningful member-led involvement in the creation of this strategy. It is hoped that by the end of the financial year 2022-23 our earned income from membership fees will have topped £100,000 for the first time.
A major new focus of this strategy will be in supporting our artists with learning disability to sell their work and to earn income from their practice as artists. This will involve Pyramid improving our understanding of issues around employability for people with learning disabilities, particularly around the impact on the tax and benefit status of our members.
We are continuing to raise money with the intention of beginning work on a new HQ by 2028. It is our intention that, by 2028, Leeds will have a reputation as being the best city in the UK for supporting artists with a learning disability, and that there will be a group of nationally famous artists with a learning disability in the city by then, supported by Pyramid.
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT**
_**For the year ended 31 March 2022**_
## **RESPONSIBILITIES OF THE TRUSTEES**
The Trustees (who are also the Directors of Pyramid of Arts for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed by order of the Trustees
## **Sarah Cockburn Company Secretary Company Registration Number 04498181**
18 July 2022
9
## **INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF PYRAMID OF ARTS LIMITED YEAR ENDED 31 MARCH 2022**
I hereby report to the Trustees/Members of Pyramid of Arts (Charity Registration Number 1094134) on my examination of the accounts for the year ended 31 March 2022 set out on pages 11 to 24.
## **Responsibilities and basis of report**
As the charity’s Trustees (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent Examiner’s Statement**
Since the Company’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountant in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods or principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **Pete O’Hara, FCA, Chartered Accountant**
## **Fellow of the Institute of Chartered Accountants in England & Wales**
4 Stoneyhurst Road West, Gosforth, Newcastle upon Tyne NE3 1PG
18 July 2022
10
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Note**
**Income**
Income from Investments
3
Income from Donations and
Legacies
4
Income from Charitable Activities
5
**Total Income**
**Expenditure**
Expenditure on Charitable Activities
6
**Total Expenditure**
**Net Income/(Expenditure)**
Balance brought forward at 1 April
**Balance carried forward at 31**
**March**
**13**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2022**
**Total**
**2021**
**£**
**£**
**£**
**£**
4
-
4
6
7,641
-
7,641
4,507
115,784
277,506
393,290
431,612|
|---|---|
||**123,429**
**277,506**
**400,935**
**436,125**
144,341
290,736
435,077
243,565|
||**144,341**
**290,736**
**435,077**
**243,565**|
||**(20,912)**
**(13,230)**
**(34,142)**
**192,560**
123,635
115,271
238,906
46,346|
||**£102,723**
**£102,041**
**£204,764**
**£238,906**|
The notes on pages 13 to 24 form part of the financial statements.
All of the activities of the company are classed as continuing.
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
11
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION/BALANCE SHEET** _**AS AT 31 MARCH 2022**_
|**Notes**
**Fixed Assets**
Tangible Fixed Assets
9
**Current Assets**
Debtors
10
Cash At Bank and In Hand
**Creditors – Amounts Falling Due Within 1 Year**
11
Net Current Assets/(Liabilities)
**Total Net Assets**
**12**
**Represented by:**
Unrestricted Reserves
13
Restricted Reserves
13|**2022**
**2021**
**£**
**£**
20,635
19,693
104,375
91,221
113,869
159,963|
|---|---|
||218,244
251,184
(34,115)
(31,971)|
||184,129
219,213|
||**£204,764**
**£238,906**|
||102,723
123,635
102,041
115,271|
||**£204,764**
**£238,906**|
The notes on pages 13 to 24 form part of the financial statements.
The Trustees are satisfied that for the year ended 31 March 2022 the charity was entitled to exemption under section 477(2) of the Companies Act 2006.
The Trustees also confirm that the Members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006
The Trustees acknowledge their responsibilities for:
(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and
(ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.
## **These financial statements were approved and signed by a Member of the Board of Trustees on 18 July 2022.**
**Ros Lehany Trustee Company Registration Number 04498181**
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1. Accounting Policies**
## **Basis of Preparation**
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006 and the Statement of Recommended Practice (Charities SORP FRS 102) "Accounting and Reporting by Charities" and the Charities Act 2011.
The financial statements have been prepared on the historical cost basis, modified to include certain financial instruments at fair value.
Advantage has been taken of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cashflows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
## **Taxation Status**
Pyramid of Arts is a Charity registered under the 1960 Charities Act and is accorded exemption from liability to taxation on its income under S505 Income and Corporation Taxes Act 1988.
## **Going Concern**
There are no material uncertainties about the charity's ability to continue.
## **Income**
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
- Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable.
- Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
- Grants, where the income is related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
- Investment income is included when receivable.
- Income from charitable trading activity is accounted for when earned.
- • Other income is accounted for when receivable.
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS**
_**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1. Accounting Policies (Continued)**
## **Irrecoverable VAT**
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## **Pension Scheme**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Tangible Fixed Assets and Depreciation**
Depreciation is provided on any fixed assets at rates calculated to write off the assets over their remaining useful lives as follows:
IT and Office Equipment - 33% per annum straight line
A full year’s depreciation charge is applied in the year of acquisition and no charge is made in the year of disposal.
## **Impairment of Fixed Assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
## **Financial Instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost where there is a material adjustment.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for specific purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **2. Legal Status**
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company law members of the charity are the members of its Board of Trustees.
## **3. Income from Investments**
|Interest on Cash Deposits|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**2022**
**£**
**2021**
**£**
4
-
4
6|
|---|---|
||**£4**
**£-**
**£4**
**£6**|
The 2021 total of £6 relates solely to Unrestricted Funds.
## **4. Income – Donations and Legacies**
|Donation - Amazon
Other Donations & Gift Aid|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**2022**
**£**
**2021**
**£**
3,000
-
3,000
-
4,641
-
4,641
4,507|
|---|---|
||**£7,641**
**£-**
**£7,641**
**£4,507**|
The 2021 total of £4,507 relates solely to Unrestricted Funds.
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## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **5. Income from Charitable Activities**
|**Grant Income**
Access Fund North
Arts Council England (ACE) - BEYOND
ACE - Cultural Recovery Fund
ACE - Pyramid The Album
Aspire Community Benefit Society
British Council
Children In Need
Global Action Plan - Clean Air Vision
Health For All Care Leavers Art Club
Index (Yorkshire Sculpture International)
Leeds CC - arts@leeds
Leeds CC - arts@leeds Restart
Leeds CC IT Services
Leeds CC Town Hall Commercial Team
Leeds Civic Trust
Leeds Community Foundation (CF)
Leeds CF Strategic Fund
Leeds Inspired - Curation Circle
Leeds Learning Disability JCS
Leeds Strategic Fund
MENCAP - Let’s Get Digital
MICE Bramley Junction Boxes
Mohn Westlake Arts Engagement Fund
National
Lottery
Community
Fund
Reaching Communities
NLCF - COVID Response Fund
Other Grants – Over-Accrual 20/21
University of Leeds
Why Don’t We Charity
**Other Income**
Project Fees
Other Income|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**2022**
**£**
**2021**
**£**
-
329
329
-
-
-
-
63,378
33,500
-
33,500
67,867
-
-
-
43,030
-
39,939
39,939
39,939
-
64,229
64,229
-
-
-
750
-
3,000
3,000
-
-
-
-
4,139
-
-
-
-
-
7,500
7,500
7,500
-
5,625
5,625
-
-
28,568
28,568
-
-
22,204
22,204
-
450
450
-
-
9,750
9,750
-
-
15,000
15,000
-
-
-
2,700
-
-
-
20,799
-
-
-
15,000
-
6,500
6,500
-
-
-
-
300
-
-
-
29,409
-
61,063
61,063
57,044
-
-
-
9,557
(750)
-
(750)
-
-
7,584
7,584
-
-
5,765
5,765
-|
|---|---|
||**32,750**
**277,506**
**310,256**
**361,412**
72,816
-
72,816
66,257
10,218
-
10,218
3,943|
||**83,034**
**-**
**83,034**
**70,200**|
||**£115,784**
**£277,506**
**£393,290**
**£431,612**|
Of the 2021 total of £431,612, £147,624 relates to Unrestricted Funds and £283,988 to Restricted Funds.
16
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **6. Expenditure on Charitable Activities**
|**Project Costs**
Salaries and On Costs
Project Work
Marketing Costs
**Support Costs**
Premises Costs
Insurance
Depreciation
Other Support Costs
**Governance Costs**
Legal and Professional
Accountancy|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**2022**
**£**
**Total**
**2021**
**£**
76,493
32,600
109,093
85,623
-
258,136
258,136
114,702
382
-
382
1,483|
|---|---|
||**76,875**
**290,736**
**367,611**
**201,808**
29,614
-
29,614
12,294
1,303
-
1,303
1,569
9,467
-
9,467
6,596
18,237
-
18,237
18,585|
||**58,621**
**-**
**58,621**
**39,044**
5,665
-
5,665
13
3,180
-
3,180
2,700|
||**8,845**
**-**
**8,845**
**2,713**|
||**£144,341**
**£290,736 £435,077**
**£243,565**|
Of the 2021 total of £243,565, £59,065 relates to Unrestricted Funds and £184,500 to Restricted Funds.
## **7. Net Income/(Expenditure)**
|Net income/(expenditure) is stated after charging/(crediting):
Independent Examiner’s Fees – current year
Depreciation – Owned Fixed Assets
Operating Leases – Land and Buildings|**2022**
**£**
**2021**
**£**
1,440
1,440
9,467
6,596
2,880
2,880|
|---|---|
17
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **8. Staff Costs and Trustees’ Remuneration**
|Gross Salary Costs
Employer’s National Insurance
Employer’s Pension Contributions|**2022**
**£**
**2021**
**£**
102,676
83,511
4,355
779
2,062
1,333|
|---|---|
||**£109,093**
**£85,623**|
No employee received remuneration of more than £60,000 during the year (2021 - Nil).
The average number of staff employed during the year, calculated as full-time equivalents, was as follows:
|equivalents, was as follows:||
|---|---|
|Permanent Staff
Fixed Term Staff
Sessional Workers|**2022**
**No.**
**2021**
**No.**
2.5
2.5
0.6
0.6
3.0
3.0|
||6.1
6.1|
The Trustees consider the key management personnel to comprise the Trustees and the Director. The total employee costs of key management personnel amounted to £27,616 (2021: £21,883)
No remuneration has been paid to any Trustees/Directors in the year (2021: £Nil).
No reimbursement has been made of any Travel and Subsistence expenses to Trustees in respect of their attendance at meetings of the charity (2021: £Nil).
The charity operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. Pyramid makes an employer's contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5%.
These amounts are paid over to the Fund on a monthly basis.
Amounts due to the fund at 31 March 2022 were £Nil (2021: £Nil).
18
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **9. Tangible Fixed Assets**
|**Cost**
At 1 April 2021
Additions in year
At 31 March 2022
**Accumulated Depreciation**
At 1 April 2021
Charge for year
At 31 March 2022
**Net Book Value**
At 31 March 2022
At 1 April 2021
**10.**
**Debtors**
Trade Debtors
Other Debtors
Prepayments
Accrued Income|**IT and Office**
**Equipment**
**£**
**Total**
**£**
44,870
44,870
10,409
10,409|**IT and Office**
**Equipment**
**£**
**Total**
**£**
44,870
44,870
10,409
10,409|
|---|---|---|
|||55,279
55,279
25,177
25,177
9,467
9,467|
|||34,644
34,644|
|||**£20,635**
**£20,635**|
|||£19,693
£19,693
**2022**
**£**
**2021**
**£**
32,899
22,561
2,753
875
1,021
1,260
51,645
66,525|
|||**£88,318**
**£91,221**|
19
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **11. Creditors – Amounts Falling Due Within 1 Year**
|**Creditors – Amounts Falling Due Within 1 Year**||
|---|---|
|Other Taxes and Social Security
Trade Creditors
Other Creditors
Deferred Income
Accruals|**2022**
**£**
**2021**
**£**
-
3,065
31,461
-
1,214
955
-
9,985
1,440
17,966|
||**£34,115**
**£31,971**|
## **12. Analysis of Net Assets between Funds**
|Fixed Assets
Debtors
Cash at Bank and In Hand
Creditors – Amounts Due Within 1 Year|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2022**
**Total**
**2021**
**£**
**£**
**£**
**£**
20,635
-
20,635
19,693
42,640
61,735
104,375
91,221
73,563
40,306
113,869
159,963
(34,115)
-
(34,115)
(31,971)|
|---|---|
||**£102,723**
**£102,041**
**£204,764**
**£238,906**|
20
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **13. Analysis of Charitable Funds**
|**nalysis of Charitable Funds**||
|---|---|
|**Unrestricted Funds**
Charity General Fund
Designated Fund – New Premises
**Total Unrestricted Funds**
**Restricted Funds**
Access Fund North
Arts Council England (ACE) - BEYOND
ACE – Matthew Watson
ACE - Pyramid The Album
Aspire Community Benefit Society
British Council
Global Action Plan - Clean Air Vision
Health For All Care Leavers Art Club
Leeds CC - art@leeds
Leeds CC - art@leeds Restart
Leeds CC IT Services
Leeds CC Town Hall Commercial Team
Leeds Civic Trust
Leeds Community Foundation
Leeds
Community
Foundation
Strategic Fund
Leeds Inspired - Curation Circle - Mx
Sam Metz
MENCAP - Let’s Get Digital
Mohn Westlake Arts Engagement Fund
National Lottery
Community Fund
Reaching Communities
University of Leeds
Why Don’t We Charity
**Total Restricted Funds**
**Total Funds**|**Fund at 1**
**April 2021**
**£**
**Incoming**
**Resources**
**in Year**
**£**
**Resources**
**Expended**
**in Year**
**£**
**Fund at 31**
**March 2022**
**£**
107,990
115,788
(144,341)
79,437
15,645
7,641
-
23,286|
||**123,635**
**123,429**
**(144,341)**
**102,723**
-
329
(329)
-
46,466
-
(46,466)
810
-
(810)
-
11,980
-
(11,980)
-
-
39,939
(39,939)
-
-
64,229
(15,544)
48,685
-
3,000
(3,000)
-
2,300
-
(2,300)
-
750
7,500
(8,250)
-
-
5,625
(5,625)
-
-
28,568
(28,568)
-
22,204
(11,102)
11,102
-
450
(450)
-
-
9,750
-
9,750
15,000
15,000
(15,000)
15,000
1,500
-
(1,500)
-
-
6,500
(6,500)
-
26,958
-
(19,631)
7,327
9,507
61,063
(60,393)
10,177
-
7,584
(7,584)
-
-
5,765
(5,765)
-|
||**115,271**
**277,506**
**(290,736)**
**102,041**|
||**£238,906**
**£400,935**
**£(435,077)**
**£204,764**|
21
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **13. Analysis of Charitable Funds (Cont.)**
|**Name of Restricted Fund**|**Description, Nature and Purpose of the**
**Restricted Fund**|
|---|---|
|Access Fund North|Towards attendance at a London exhibition|
|Arts Council England - BEYOND|Towards the cost of the biennial BEYOND
Festival (Learning Disability and the Arts in
Leeds)|
|Arts Council England – Matthew
Watson|Towards the cost of The Matthew Watson
Experience|
|Arts Council England – Pyramid The
Album|Towards the cost of production of an experimental
prog rock album by Ultimate Thunder, with each
track made in collaboration with a different
Pyramid group|
|Aspire Community Benefit Society|Towards providing opportunities for adults with
learning disabilities to participate in creative
activity|
|British Council|Towards the Axis Artists Exchange Programme|
|Global Action Plan - Clean Air Vision|Towards the 'Clean Air Vision' installation /
sculpture|
|Health For All Care Leavers Art Club|To support Pyramid artist Ria leading a creative
support group for young people leaving care|
|Leeds City Council (CC) art@Leeds|Core funding towards work which contributes to
Leeds City Council’s strategic priorities|
|Leeds CC art@leeds Restart|Towards the impact of COVID-19|
|Leeds CC IT Services|Towards the cost of a Digital Inclusion
Coordinator for Learning Disability and Autism|
|Leeds CC Town Hall Commercial
Team|Towards the cost of artwork in relation to the
heritage restoration of the Town Hall organ by the
Eden Group.|
22
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **13. Analysis of Charitable Funds (Cont.)**
|**Name of Restricted Fund**|**Description, Nature and Purpose of the**
**Restricted Fund**|
|---|---|
|Leeds Civic Trust|To design and install a park bench in Bramley|
|Leeds Community Foundation|Towards the cost of employment for people with
Learning Disabilities|
|Leeds Community Foundation
Strategic Fund|Towards the cost of research, development and
engagement activities to produce our 2024-28
strategic plan|
|Leeds Inspired - Curation Circle - Mx
Sam Metz|Towards the cost of artist fees for the Curation
Circle to meet and further develop their ideas
around inclusive curation|
|MENCAP - Let’s Get Digital|Towards digital equipment and digital strategy
planning|
|Mohn Westlake Arts Engagement
Fund|Towards the cost of supporting young adult artists
with learning disabilities to access professional
development opportunities|
|National Lottery Community Fund
Reaching Communities|Towards the cost of work with people with
profound and multiple disabilities and their carers.
The funding pays for a project worker, contributes
towards the salary of the Director and covers
direct project and training costs for seven groups|
|University of Leeds|Towards Pyramid artists collaboration with
Assembly House and the University’s Faculty of
Art History, Arts and Culture Studies|
|Why Don’t We Charity|Towards the continuation of the Why Don’t We
group|
23
## **PYRAMID OF ARTS (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **14. Related Party Transactions**
There were no transactions in the year with related parties, such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities (Effective April 2008) (2021: Nil).
## **15. Taxation**
The company is a registered charity and no provision is considered necessary for taxation.
## **16. Financial Commitments**
No material financial commitments have been made in respect of future financial periods.
## **17. Company Limited by Guarantee**
The charity is incorporated under the Companies Act 1985 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.
There are currently 70 members of the company (2021 - 71 members).
## **18. Operating Lease Commitments**
At 31 March 2022 the company had annual commitments under operating leases as follows
|**Category**
Operating leases which expire:
Within two to five years|**Leasehold**
**Property**
**£**
2,880
**£2,880**|**Equipment**
**£**
-|
|---|---|---|
|||**£- **|
24