| Page | ||
|---|---|---|
| Legal and administrative | information | |
| Management Committee's |
report | |
| Independent examiner's |
report | |
| Statement offinancial activities | 12 | |
| Balance sheet | ||
| Cash flow statement | 14 | |
| Notes to the financial statements | 15 |
| Management | Management | Committee | Teresa Crace-Francis | (Chair) | (Chair) | (Chair) |
|---|---|---|---|---|---|---|
| Maria Amidu (appointed |
15August 2022) | |||||
| Nicholas Brown (appointed |
28 June 2021) | |||||
| Season Butler (resigned | 27 September 2021) | |||||
| Aliya Gulamani (appointed |
15August 2022) | |||||
| Michael Mack | ||||||
| Clalre Malcolm (appointed |
27 September 2021) | |||||
| Gerrie van Noord | ||||||
| Secretary | Gavin Everali | |||||
| Co-Directors | Rob Hadrill | |||||
| Gavin Everall | ||||||
| Company | reg. no. | 03190880 | ||||
| Charity reg. | no. | 1104148 | ||||
| Registered | office | 19 Holywell Row |
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| London, EC2A 4JB |
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| Independent | Examiner | Delta Accountancy Advice |
Ltd | |||
| 8 Margaret Avenue | ||||||
| St Albans, AL3 5TE |
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| Bankers | Lloyds Bank pic | |||||
| Finsbury Square Branch |
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| PO Box 1000 BX1 1LT |
| Unrestricted | Unrestricted | Restricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||||||
| Note | 2022 | 2022 | 2022 | 2021 | |||||
| 6 | E | 6 | E | ||||||
| INCOIIIIE FROM: | |||||||||
| Donations and legacies |
2 | 180,197 | 180,197 | 180,319 | |||||
| Charitable activities |
3 | 389,580 | 26,285 | 415,865 | 380,541 | ||||
| Investments | 5 | 266 | 266 | 277 | |||||
| TOTAL INCOMING RESOURCES |
570,043 | 26,285 | 596,328 | 551,237 | |||||
| RESOURCES EXPENDED | |||||||||
| Charitable activities |
640,507 | 7,285 | 647,792 | 526,544 | |||||
| TOTAL RESOURCES EXPENDED | 6 | 640,507 | 7,285 | 647,792 | 526,544 | ||||
| NET INCOME/(EXPENDITURE) | (70,464) | 19,000 | (51,464) | 34,693 | |||||
| Reconciliation offunds: |
|||||||||
| TOTAL FLINDS AT 1 APRIL 2021 | 382,883 | 2,000 | 384,883 | 350,190 | |||||
| TOTAL FUNDS AT 31 MARCH 2022 | E | 312,419 | E | 21,3911 | E | 333419 | 4 | 384,893 |
| As at 31 March 2 | 022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | 2022 | 202( | ||||||
| FIXEDASSETS | ||||||||
| Tangible assets | 719 | 984 | ||||||
| CURRENT ASSETS | ||||||||
| Stocks | 68,092 | 62,074 | ||||||
| Debtors | 13 | 79,261 | 64,269 | |||||
| Cash at bank and | in hand | 233,343 | 294,109 | |||||
| 370,686 | 420,452 | |||||||
| CREDITORS: amounts | falling due | |||||||
| within one year | 14 | (37,986) | (36,553) | |||||
| NET CURRENT ASSETS | 332,700 | 383,899 | ||||||
| NET ASSETS | E | 333,419 | 384,883 | |||||
| FUNDS | ||||||||
| Restricted funds |
15 | 21,000 | 2,000 | |||||
| Unrestricted funds: |
||||||||
| Designated funds |
15 | 171,370 | 202,285 | |||||
| General fund |
15 | 1411049 | 180,598 | |||||
| 312,419 | 382,883 | |||||||
| 3 | 333 413 | 384,883 |
| Notes | 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| Net cash flow from operating | activities | 19 | (60,074) | 43,243 | ||||
| Cash flows from investing | activities | |||||||
| Interest received | 267 | 2TT | ||||||
| Purchase oftangible | fixed assets | (959) | ||||||
| Net cash provided by |
(used | in) investing | activities | 692 | 277 | |||
| (Decrease)/Increase | ln cash and cash | equivalents | in the year | (60,766) | 43,520 | |||
| Cash and cash equivalents | at the beginning | ofthe | year | 294,109 | 250,589 | |||
| Total cash and cash | equivalents at the end |
ofthe | year | f | 233,343 | 294,109 |
| Leashold | buildings | 6% | Straight | line | |
|---|---|---|---|---|---|
| Fixtures | and fittings | 25% | Straight | line | |
| Office equipment, | plant and machinery | 25% | Straight | line |
| DONATIONS | AND LEGACIES | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Unrestricted | ||||||||
| Funds | Funds | ||||||||
| 2022f | 2021f | ||||||||
| Grants - Arts | Council England | 179,760 | 179,760 | ||||||
| Donations | 437 | 559 | |||||||
| 0 | 100101 | 5 , 100,319 | |||||||
| INCOME FROM CHARITABLE | ACTIVITIES | ||||||||
| Unrestricted | Restricted | Total | Totei | ||||||
| Funds | Funds | Funds | Funds | ||||||
| 2022 | 2022f | 2022 | 2021 | ||||||
| Studio | 304,762 | 1,310 | 306,072 | 273,260 | |||||
| Commissions | ofnew work | 84,818 | 24,975 | 109,793 | 107,381 | ||||
| 5 | 309500 | 0 | 26 205 | 0 | 415,065 | 1 | 380 641 |
| Restricted inc |
om | e fro | m charitable | activities in 2021 was f94 |
,757. | ||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||||
| Funds | Funds | Funds | |||||
| 2021 | 2021 | 2021 | |||||
| 6 | |||||||
| Studio | 211,077 | 62,183 | 273,260 | ||||
| Commissions | of | new | work | 74,807 ~0,884 1 |
32,574 !1338r |
8 | 107,381 |
| GRANT INCOIIIIE, DONATIONS | GRANT INCOIIIIE, DONATIONS | AND CO-CONTRIBUTORS | 2022 | 2021 | ||
|---|---|---|---|---|---|---|
| f. | E | |||||
| Arts Council England | 179,760 | 179,760 | ||||
| Arts Council England | - Catalyst | |||||
| London Borough Hackney |
10,000 | |||||
| Bluecoat Gallery | 2,000 | |||||
| Newnham College |
2,000 | |||||
| Creative Scotland | 1,000 | |||||
| Baltic Centre for Contemporary | Art | 2,000 | ||||
| Grand Union |
1,000 | |||||
| Peter Freeman inc |
7,500 | |||||
| Grimm | 7,500 | |||||
| University of Dundee | 1,000 | |||||
| Coronavirus job retention |
1,599 | 82,757 | ||||
| Mosaic Rooms | 12,500 | |||||
| DACS | 7,000 | |||||
| Other | 688 | 2,559 | ||||
| E | 206,045 | E | 294,576 |
| INVESTMENT INCOME | 2022 E |
2021f | ||
|---|---|---|---|---|
| Bank interest receivable | 266 | 277 | ||
| E | 266 | E | 277 |
| Activities | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| undertaken | Support | ||||||||||||
| Staff costs | directly | Costs | Total 2022f | Tolal 2021 E |
|||||||||
| Studio | 179,129 | 85,415 | 68,560 | 333,104 | 276,716 | ||||||||
| Commissions | of | new | work | 131,665 | 105,279 | 77,744 | 314,688 | 249,828 | |||||
| E | 310,794 | E | 190,894 | E | 148,304 | E | 647,792 | E | 526,544 |
| Restricted ex |
penditure | fro | m r | esources ex | pen | ded in 2021 was |
F100,207. | |
|---|---|---|---|---|---|---|---|---|
| Activities | ||||||||
| undertaken | Support | |||||||
| Staffcosts | directly | Costs | Total 2021 | |||||
| f | E | E' | ||||||
| Studio | 144,896 | 65,198 | 66,622 | 276,716 | ||||
| Commissions | ofnew | work | 120,004 | 52,640 | 67,184 | 249,828 | ||
| E | 264,900 | E | 127,838 f | 133,806 | 526,544 |
| Resources | expended | expended | include: | include: | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022f | 2021 | ||||||||||||
| Operating | lease rentals | — Land and buildings | 32,837 | 31,881 | |||||||||
| Depreciation | - on owned assets | 1,224 | 2,288 | ||||||||||
| 5 | 34,061 | 6 | 34,169 | ||||||||||
| SUPPORT | COSTS | ||||||||||||
| Tots I | Totei | ||||||||||||
| Staff | Premises | Other | 2022 | 2021 | |||||||||
| Administration | |||||||||||||
| 6 | 6 | ||||||||||||
| Studio | 19,060 | 27,665 | 21,835 | 68,560 | 66,622 | ||||||||
| Commissions | ofnew | work | 18,425 | 26,397 | 32,922 | 77,744 | 67,184 | ||||||
| 8 | 37,405 | f | 04,063 | 5 | 54,757 | f | 740304 | 8 | 733808 | ||||
| Totet | |||||||||||||
| Staff | Premrses | Other | 2021 | ||||||||||
| Administretion | |||||||||||||
| 2 | |||||||||||||
| Studio | 19,996 | 24,424 | 22,202 | 66,622 | |||||||||
| Commissions | ofnew | work | 19,991 | 22,713 | 24,480 | 67,184 | |||||||
| 5 | 39,987 | 2 | 47,137 | 0 | 46,682 | 0 | 133,806 |
| STAFF NUMBERS AND COSTS | ||||
|---|---|---|---|---|
| 2022f | 2021f | |||
| Wages and salaries | 315,411 | 277,994 | ||
| Social security costs | 26,022 | 21,001 | ||
| Pension costs | 6,768 | 5,756 | ||
| 2 | 345,251 | 2 | 354 151 |
| TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|
| Land and | Fixture and | Office | ||
| buildingsf | fittingsf | equipmentf | Total | |
| Cost | ||||
| At 1 April 2021 | 32,226 | 6,897 | 20,393 | 59,516 |
| Additions | 959 | 959 | ||
| At 31 March 2022 | 32,226 | 6,897 | 21,352 | 60,475 |
| Depreciation | ||||
| At 1 Apnl 2021 | 32,226 | 6,897 | 19,409 | 58,532 |
| Charge for the year At 31 March 2022 Net book value At 31 March 2021 At 31 March 2022 |
32,226 6,897 f Nil Nil f ~~7 |
1,224 1,224 20,633 59,756 984 f 984 115~15 |
||
| STOCKS | 2022f | 2021f | ||
| Finished goods | 435577 | 45,115 | ||
| Raw materials | 11,336 | 10,784 | ||
| Work in progress |
3,179 | 6,175 | ||
| f | 58,092 f | 52,074 |
| DEBTORS | |||||
|---|---|---|---|---|---|
| Due within one year | 2022f | 2021f | |||
| Accounts Receivable | 59,658 | 39,244 | |||
| Prepayments and accrued Other debtors |
income | f | 19,089 604 79,251 |
f | 21,101 3,924 64,269 |
| CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||||
| 2022f | 2021f | ||||
| Trade creditors | 10,872 | 16,556 | |||
| Social security and other taxes Other creditors |
7,778 58 |
32 58 |
|||
| Acct uals | 15,308 | 15,435 | |||
| Deferred income |
3,970 | 4,470 | |||
| 6 | 37,366 | 3 | 36,553 | ||
| Dere)T0d lncoriZ Balance at 1 April 2021 Amount released to income Amount deferred in the year - Fees Balance at 31 March 2022 |
f | 4,470 (600) 3970 |
f | 19,500 (19,500) 4,470 4470 |
| STATEMENT OF FUNDS | STATEMENT OF FUNDS | STATEMENT OF FUNDS | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Movements in funds (current year) |
|||||||||||
| Brought | Incoming | Resources | Transfers | Carried | |||||||
| Forward | Resources | Expended | Forward | ||||||||
| Aprll2021 6 |
6 | March 2022 f |
|||||||||
| DESIGNATED FUNDS | |||||||||||
| Equipment and premises |
94,000 | 94,000 | |||||||||
| Website | 8,285 | (915) | 7,370 | ||||||||
| Redundancy | 70,000 | 70,000 | |||||||||
| Development and Staffing |
30,000 | 30,000 | |||||||||
| 202,280 | 2 | 511 | (30,9 5 | 6 | NI | I | 6 | 171,370 | |||
| RESTRICTED FUNDS 01(*(42MO f 2000 |
f | 26200 26285 |
285 ~f,285) |
f | Nil | 6 | 21,000 21,000 |
||||
| SUMMARY OF FUNDS | |||||||||||
| Designated Funds |
202,285 | (30,915) | 171,370 | ||||||||
| General Funds Restricted Funds |
f | 180,598 382,883 2,000 304,003 |
2 | 570043 570,043 26,286 096,320 |
~, 60S,592 (640,507) ,285) 2 047,792~ |
2 | 141049 312,419 21,000 333,419 |
||||
| Movements In funds (prior |
year) | ||||||||||
| Brought | Incoming | Resources | Transfers | Cerned | |||||||
| Forward | Resources | Expended | Forward | ||||||||
| April 2020 | March 2021 | ||||||||||
| DESIGNATED FUNDS | |||||||||||
| Equipment and premises |
94,OOO | 94,000 | |||||||||
| Website Redundancy Development and Staffing |
6 | 11,850 30,000 135,650 |
6 | Ni I | (3,565) (3565 |
2, TO, OOO TO, OOO |
8,285 TO, OOO 30,OOO ~~85 |
||||
| RESTRICTED FUNDS | |||||||||||
| Commissions of new work |
6 | 7,450 7,450 |
f | 94,75T 94,757 |
(100,2OT (100207 |
2 | NII | 5 | 2,OOO 2000 |
||
| SUMMARY OF FUNDS | |||||||||||
| Designated Funds General Funds |
135,650 206890 |
466400 | (3,565) ~422772 |
TO, OOO (TO,OOO) |
202,265 180598 |
||||||
| 342,740 | 466,460 | (426,337) | 362.883 | ||||||||
| Restricted Funds |
E | 7,450 350,190 |
E | 94,757 551,237 |
~(100.207 ~f(526.544 |
f' | Nil | 5 | 2, OOO 364,863 |
| Unrestncted | Unrestncted | Unrestncted | Unrestncted | Funds | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| prior year | Designated | General | Restricted | Tote/ | ||||||||||
| Funds | Funds | Funds | Funds | |||||||||||
| 6 | f | 6 | ||||||||||||
| Tangible | fixed assets | 984 | 984 | |||||||||||
| Net currant | assets | 202,285 | 179,614 | 2,000 | 383,899 | |||||||||
| f | 202,285 | 6 | 180,598 | 6 | 2,000 | 6 | 384,883 | |||||||
| 17. | OTHER | FINANCIAL | COMMITMENTS | |||||||||||
| 2022 | 2021 | |||||||||||||
| 6 | ||||||||||||||
| At 31 March 2022 the | Company | had annual | commitments | under | non- | |||||||||
| cancellable | operating | leases (all | for land and | buildings) | as | set | out | |||||||
| below: | ||||||||||||||
| Operating | leases which expire: | |||||||||||||
| within one | year | 33,823 | 33,822 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Net movement in funds |
(51,464) | 34,693 | ||
| Depreciation charge |
1,224 | 2,288 | ||
| Bank Interest Received | (267) | (277) | ||
| (Increase)/decrease | in stock | 3,982 | 5,320 | |
| (Increase)/decrease | in debtors | (14,982) | 17,902 | |
| Increase/(decrease) Net cash flow from |
in creditors operating activities |
1,433 ~r~E4 x |
(16,683) 43.243 |