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|||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||||
||||London,
EC2A 4JB||||
|Independent||Examiner|Delta Accountancy
Advice|||Ltd|
||||8 Margaret Avenue||||
||||St Albans,
AL3 5TE||||
|Bankers|||Lloyds Bank pic||||
||||Finsbury
Square Branch||||
||||PO Box 1000 BX1 1LT||||
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|||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|
##
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|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|
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|Leashold|buildings||6%|Straight|line|
|---|---|---|---|---|---|
|Fixtures|and fittings||25%|Straight|line|
|Office equipment,||plant and machinery|25%|Straight|line|
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|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|
##
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||||||||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|
##
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|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|
##
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|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|
##
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|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|
##
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##
|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|
##
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|||||||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|
##
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||||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|