## ## |||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|