| Page | ||
|---|---|---|
| Legal and administrative | Information | |
| Management Committee's |
report | |
| Independent examiner's |
report | |
| Statement offinancial activities | ||
| Balance sheet | 10 | |
| Cash flow statement | ||
| Notes to the financial statements | 12 |
| Management | Management | Committee | Teresa Drace-Francis | (Chair) | (Chair) |
|---|---|---|---|---|---|
| Karen Brown (Resigned 26January 2021) | |||||
| Season Butler (Appointed | 26 January 2021) | ||||
| Ronakl Henocq (Resigned | 26January 2021) | ||||
| Michael Mack | |||||
| Gerrie van Noord | |||||
| Secretary | Gavin Everall | ||||
| Co-Directors | Rob Hadrill | ||||
| Gavin Everall | |||||
| Company | reg. no. | 03190880 | |||
| Charity reg. | no. | 1104148 | |||
| Registered | oNce | 19Holywell Row |
|||
| London, EC2A4JB |
|||||
| Independent | Examiner | Delta Accountancy Advice |
Ltd | ||
| 8 Margaret Avenue | |||||
| StAlbans, AL3 5TE | |||||
| Bankers | Lloyds Bank pic | ||||
| Finsbury Square Branch | |||||
| PO Box1000BX1 1LT |
| Unrestricted | Unrestricted | Restricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||||||
| Note | 2021 | 2021 | 2021 | 2020 | |||||
| 6 | 6 | ||||||||
| INCOME FROM: | |||||||||
| Donations and legacies |
2 | 180,319 | 180,319 | 179,958 | |||||
| Charitable activities |
3 | 285,884 | 94,757 | 380,641 | 630,262 | ||||
| Investments | ~ | 277 | 277 | 876 | |||||
| TOTAL INCOMING RESOURCES | 46648D | 94757 | ~587 37 |
ttt 096 | |||||
| RESOURCES EXPENDED | |||||||||
| Charitable activities |
426,337 | 100,207 | 526 544 | 718270 | |||||
| TOTAL RESOURCES EXPENDED | 6 | 426837 | 1DD 2D7 | 526 544 | 7'18270 | ||||
| NET INCOMEr(EXPENDITURE) | 40,143 | (5,450) | 34,693 | (7, 174) | |||||
| Reconciliation offunds: |
|||||||||
| TOTAL FUNDS AT 1 APRIL 2020 | 342,740 | 7,460 | 350,190 | 357,364 | |||||
| TOTAL FUNDS AT 31 MARCH 2021 | 2 | 382.883 | 6 | 2 DDD | 6 | 284 883 | 5 | 350.790 |
| Notes | 2021f | 2020f | |||||
|---|---|---|---|---|---|---|---|
| Net cash cow from | operating | activities | 19 | 8,342 | |||
| Cash flows from | investing | activities | |||||
| interest received | 277 | e75 | |||||
| Net cash provided | by (used | in) investing | activities | 277 | e78 | ||
| Increase In cash |
and cash | equivalents | In the year | 43,520' | 9,218 | ||
| Cash and cash equivalents | at the beginning ofthe year |
250,589 | 241,371 | ||||
| Total cash and cash equivalents at the end ofthe year |
f | 294,109 | 250,589 |
| Leashold | buildings | 8% | Straight | line | |
|---|---|---|---|---|---|
| Fixtures | and fittings | 25% | Straight | line | |
| Office equipment, | plant and machinery | 25% | Straight | line |
| DONATIONS | AND LEGACIES | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Unrsstncted | ||||||||
| Funds | Funds | ||||||||
| 2021f | 2020f | ||||||||
| Grants - Arts | Council of England | 179,760 | 176,512 | ||||||
| Donations | 559 | 3,446 | |||||||
| E | 1M31$ | 2 | t79 958 | ||||||
| INCOME FROM CHARITABLE | ACTIVITIES | ||||||||
| Unrestricted | Restricted | Total | Total | ||||||
| Funds | Funds | Funds | Funds | ||||||
| 2021f | 2021f | 2021f | 2020f | ||||||
| Studio | 211,077 | 62,183 | 273,260 | 409,629 | |||||
| Commissions | of new work | 74 3D7 | 32,574 | 107,361 | 120,633 | ||||
| 3 | 255884 | 6 | 94757 | 5 | 38D 341 | 5 | 530.262 |
| Restrided inc |
om | e fro | m charitable | activities in 2020 was |
f21,796. | |
|---|---|---|---|---|---|---|
| Unrsstncted | Restricted | Total | ||||
| Funds | Funds | Funds | ||||
| 2020 | 2020f | 2020f | ||||
| Studio | 409,629 | 409,629 | ||||
| Commissions | of | new | work | 98,837 EE507466 |
21,796 ~21,79 |
120633 ~530. n |
| GRANT INCOME, DONATIONS | AND COONTRIBUTORS | 2021 | 2020f | ||
|---|---|---|---|---|---|
| Arts Council of England Arts Coundl of England - Catalyst London Borough Hackney Creative Scotland Art On The Underground Hospitalfields Coronavirus job retention Mosaic Rooms DACS Other |
8 | 179,760 10,000 82,757 12,500 7,000 2,559 294 576 |
2 | 176,512 10,000 4,450 1,330 2,500 3,516 1.99058 |
| INVESTMENT INCOME | 2021f | 2020f |
|---|---|---|
| Bank interest receivable | 277 277 f |
878 876 |
| Activities | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| under-taken | Support | ||||||||||
| Staff costs F |
directly f. |
Costsf | Total 2021 f |
Total 2020 f |
|||||||
| Studio Comm'ssionsofnewwork |
7. | 144,896 120,004 264,9DD |
2 | 66,822 67,184 133,806 f ' 65,198 62,640 121838, |
278,718 249 828 526,544 f |
377,449 340,821 718,270 |
|||||
| Restricted | expenditure | from | resources expended in 2020 |
was | f74,710. | ||||||
| Activities | |||||||||||
| under-taken | Support | ||||||||||
| Staffcosts f |
directly f |
Costs f |
Total 2020 f |
||||||||
| Studio Commissions |
ofnew work E |
185,841 130241 316,082 |
2 | 130,684 141118 271.802 |
2 | 60,924 69,462 130386 |
377,449 340 821 718270, |
| 2021f | 2020f | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating lease rentals Depreciation |
- Land and buildings - on owned assets |
31,881 2488 |
31,881 3,005 |
|||||||||
| 6 | 34578 | f | 34888 | |||||||||
| SUPPORT COSTS | ||||||||||||
| Tote I | Total | |||||||||||
| Staff | Premises | Other | 2021 | 2020 | ||||||||
| Admrnistration | ||||||||||||
| f | f | |||||||||||
| Studio Commissions |
of new work | 8 | 19,996 19991 39887 |
8 , | 24,424 22,713 47137 |
6 , | 22202 24480 46,682 |
8 | 66,622 67184 138306 |
f | 60,924 89,462 t30,386 |
|
| Total | ||||||||||||
| Staff | Premises | Other | 2020 | |||||||||
| f | f | Administration | f | |||||||||
| Studio 0 1 *1 |
1 | 4 | 6 | 19,557 t77M 37257 |
E | 23,177 22 703 , 45880 |
E | 18,190 29 059 47249 |
E | 60,924 69,462 130386 |
| GOVERNANCE COSTS | 2021f | 2020f | ||
|---|---|---|---|---|
| Independent examiners Trustee' expenses |
remuneration | f | 3,700 3,700 f |
3,700 258 3,958 |
| 13 | DEBTORS | ||||
|---|---|---|---|---|---|
| . | Due within one year |
2021f | 2020f | ||
| Accounts Receivable | 39,244 | 64,664 | |||
| Prepayments and accrued income Other debtors |
21,101 3,924 |
15,021 2,486 |
|||
| 2 | 04 209 | 5 | 82777 | ||
| 14. | CREDITORS: AMIOUNTS FALLING DUE WITHIN ONE YEAR | 2021f | 2020f | ||
| Trade creditors Social security and other taxes Other creditors Accruals Deferred income |
f | 18,558 32 58 15,435 4470 38553 |
f | 15,049 9,348 1,616 7,723 70.500 53,236 |
|
| ~De~ed i 09me Balance at 1 April 2020 Amount released to income Amount deferred in the year - Fees Balance at 31 March 2021 |
8 | 19,500 (19,500) 4470 4,470 |
0 | 'I0 500 79,500 |
| STATEMENT OF FUNDS | STATEMENT OF FUNDS | STATEMENT OF FUNDS | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Movements in funds (current year) |
|||||||||
| Brought | Incoming | Resources | Transfers | Carried | |||||
| Forward | Resources | Expended | Forward | ||||||
| April 2020 | March 2021 | ||||||||
| DESIGNATED FUNDS | |||||||||
| Equipment and premises Website |
94,000 11,850 |
(3,565) | 94,000 8,285 |
||||||
| Redundancy | 70,000 | 70,000 | |||||||
| Development and Staffing 6 |
30000 13~.850 |
8 | Nll | ~53500 | 8 | 7D.DM | 30000 ~2202 05 |
||
| RESTRICTED FUNDS | |||||||||
| 0 1 1 t |
2 f |
7.40D 7 400 |
8 | 04757 94757 |
~1M2Dt ~81002Dt. |
Nll | 5 | 2 DDD 20M |
|
| SUMMARY OF FUNDS | |||||||||
| Designated Funds General Funds Restricted Funds |
135,850 206 890 342,740 7 400 |
406480 466,480 94707 |
(3,565) ~422772 (426,337) ~700207 |
~, | 70,000 0000 |
202N285 100.590 382,883 2 000 |
|||
| 8 | 350.19D | 8 | 501237 | ~f526544 | NI | 8 | 3040M | ||
| Movements in funds (prior |
year) | ||||||||
| Brought | Incoming | Resources | Transfers | Cerned | |||||
| Forward | Resources | Expended | Forward | ||||||
| Apn'I 2019f | f | March 2020 f |
|||||||
| DESIGNATED FUNDS | |||||||||
| Equipment and premises Website |
94,000 25,000 |
(13,150) | 94,000 11,850 |
||||||
| Development and Staffing 6 |
30,000 149,000 |
5 | Nll | ~273.750 | Nil | f | 30000 135,850 |
||
| RESTRICTED FUNDS | |||||||||
| 0 1 t |
4 5 |
17,50D t7500 |
f | 21.796 21796 |
~37846 ~f3t 146 |
f | Nil | f | 7450 7450 |
| SUMMARY OF FUNDS Designated Funds General Funds |
149,000, 00864 |
- 689300 |
(13,150) ~073274 |
135,850 206,890 |
|||||
| 339,864 | 689,300 | (686,424) | 342,740 | ||||||
| Restricted Funds |
t7500 f 3573117 |
5 | 2t.708 7tt 090 |
~,3t 040 ~ft 7 |
0f70 | Nil | f | 7450 350 190 |
| ANALYSIS OF NET | ASSETS B | ETWEE | N F | UNDS continued | UNDS continued | UNDS continued | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Funds | |||||||||
| Prior Year | Designated | General | Restncted | Total | ||||||
| Funds f |
Funds f |
Funds | Fundsf | |||||||
| Tangible fixed assets Net current assets |
f | 135,850 135850 |
5 | 3,272 203,518 205350 |
5 | 7,450 7450 f |
3,272 346918 350180 |
|||
| OTHER FINANCIAL | COMMITMENTS | |||||||||
| 2021f | 2020f | |||||||||
| At 31 March 2021 the | Company | had annual | commitments | under non- | ||||||
| cancellable operating |
leases (all | for land | and buiMings) as set | out | ||||||
| below: | ||||||||||
| Operating leases which expire: within one year |
33822 | 32 837 |
| RECONCILLIATION OF NET MOVEMENT IN FUNDS ACTMTIES |
TO NET CASH FLO | W FROM O | PERATING |
|---|---|---|---|
| 2021 f |
2020 f |
||
| Net movement in funds |
34,693 | (7,174) | |
| Depreciation charge Bank Interest Received |
2388 (277) |
3,005 (876) |
|
| (increase)/decrease in stock (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash flow from operating activities |
8 | 5,320 17,902 (16,683) 43or |
(1,541) 5,594 9,434 ~584422 |