|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|9|
|Report ofthe Independent
Auditors|10|to|12|
|Statement ofFinancial Activities||13||
|Balance Sheet||14||
|Cash Flow Statement||15||
|Notes ln the Cash Flow Statement||16||
|Notes to the Financial Statements|17|to|27|
|Detailed Statement of Financial Activities|28|to|29|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|E|E|E|E|
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies||2|32,020|1,077,721|1,109,741|530,337|
|Other trading
activities
Investment
income||3
4|5,339
2 067|44,959|50,298
~2067|65,459
3 787|
|Total|||39,426|1,122,680|1,162,106|599,583|
|EXPENDITURE ON|||||||
|Raising funds||||1,896|1,896|470|
|Charitable
activities|||||||
|Projects|||106,722|600,329|707,051|748,633|
|Total|||106,722|602,225|708,947|749,103|
|NET INCOME/(EXPENDITURE)|||(67,296)|520,455|453,159|(149,520)|
|Transfers between
funds||17|92250|~922503|||
|Net movement
in funds|||24,954|428,205|453,159|(149,520)|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward|||76,975|367,600|444,575|594,095|
|TOTAL FUNDS CARRIED FORWARD|||101929|795 805|897734|444 575|
##
|||Balance Sheet
31March 2021|||
|---|---|---|---|---|
||||2021|2020|
|||Notes|E|E|
|FIXEDASSETS|||||
|Tangible assets|||59,308|67,543|
|CURRENT ASSETS|||||
|Debtors||13|14,401|13,456|
|Cash at bank and|in hand||~866 194|~386 558|
||||880,595|400,014|
|CREDITORS|||||
|Amounts
falling due within one year||14|(42,169)|(22,982)|
|NET CURRENT ASSETS|||~838426|~377032|
|TOTAL ASSETS|LESSCURRENT LIABILITIES||897,734|444,575|
|NET ASSETS|||~897734|~444 575|
|FUNDS||17|||
|Unrestricted
funds|||101,928|76,975|
|Restricted
funds|||~795806|~367600|
|TOTAL FUNDS|||~897734|~444 575|
##
##
||||||2021|2020|2020|
|---|---|---|---|---|---|---|---|
|||||Notes|E|E||
|Cash flows from operating||activities||||||
|Cash generated
from operations|||||~488945|~149|742)|
|Net cash provided
by/(used|in) operating||activities||~488 945|~149|7'l2)|
|Cash flows from investing||activities||||||
|Purchase of tangible
fixed assets|||||(11,619)|(8,711)||
|Sale oftangible
fixed assets|||||2,043|||
|Interest received|||||267||874|
|Net cash used
in investing
activities|||||~9309)|~7837)||
|Change
in cash and cash|equivalents||in|||||
|the reporting
period|||||479,636|(157,579)||
|Cash and cash equivalents||at the||||||
|beginning
ofthe reporting||period|||~386 558|544|137|
|Cash and cash equivalents||at the end|of|||||
|the reporting
period|||||~866 194|~386|558|
##
|RECONCILIATION|OF NET|INCOME/(EXPENDITURE)|INCOME/(EXPENDITURE)|TO NET CASH FLOW FROM OPERATING|TO NET CASH FLOW FROM OPERATING|
|---|---|---|---|---|---|
|ACTIVITIES||||||
|||||2021|2020|
|||||E|E|
|Net income/(expenditure)
for the reporting
Statement ofFinancial Activities)|||period|(as per the
453,159|(149,520)|
|Adjustments
for:||||||
|Depreciation
charges||||17,812|18,346|
|Interest received||||(267)|(874)|
|(Increase)/decrease|in debtors|||(946)|7,846|
|Increase/(decrease)|in creditors|||~19187|~25 540)|
|Net cash provided|by/(used|in) operations||~488 945|~149742)|
##
|ANALYSIS OF CHANGES IN NET FUNDS|ANALYSIS OF CHANGES IN NET FUNDS||||
|---|---|---|---|---|
|||At 12820|Cash flow|At 31.3.21|
|||E|E||
|Net cash|||||
|Cash at bank and|in hand|~386558|~479 636|866 194|
|||~386558|~479636|~866 194|
|Total||386 558|~479 636|866 194|
##
##
##
##
##
##
##
##
##
##
##
|||||2021I|2020I|
|---|---|---|---|---|---|
|Donations||||25,346|33,059|
|GiR aid||||274|256|
|Grants|||1,045,066||493,726|
|HMRC employment||allowance||4,000|3,000|
|Other income||||1,793|296|
|Government|grants|||33262||
||||1|109 741|330337|
##
##
||Non-Government
grants re|ce|i|ved,
inc|luded
in the above, are as follows|. '||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||||I|I|
||Arts Council
England|||||505,299|149,676|
||East Sussex County Council,||Childrens||Services|8,000||
||Sussex Community
Foundation|||||3,620||
||Rayne Foundation|||||25,000||
||LLoyds TSBFoundation|||||33,000||
||The Three Guineas Trust|||||162,475|68,000|
||Paul Hamlyn
Foundation|||||153,500|66,500|
||Stlames's
Place Foundation|||||5,000||
||The Ernest Kleinwort
Benson|||Trust|||5,000|
||East Sussex County Council||||||8,000|
||The Magdalen
and Lasher Charity|||||4,000|3,500|
||BBCChildren
in Need|||||30,024|23,388|
||Artworks
Bridge|||||1,600|1,000|
||The Drapers Charitable
Trust||||||10,000|
||The Chalk
Hill Trust||||||5,000|
||The 29 May 1961Charitable||Trust|||4,000|4,000|
||The National
Lottery|||||44,548|126,262|
||Hastings
Enrichment
Fund||||||6,400|
||Arts Council England||||||1,000|
||The Daytrippers
Foundation||||||1,000|
||The Sussex Community
Foundation||||||5,000|
||The Baily Thomas
Foundation||||||10,000|
||Esmee Fairbairn
Foundation
The Childwick Trust|||||60,000
~5000||
|||||||2 043 066|403726|
|Government
grants received,
included||||in the|above, are as follows:|||
|||||||2021|2020|
|||||||E|E|
||Covid Resilience|||||14,976||
||Covid Infection Control|||||12,200||
||Coronavirus
Job Retention|Scheme||||6086||
|||||||33262||
|3.|OTHER TRADING ACTIVITIES|||||||
|||||||2021|2020|
|||||||E|E|
||Fees Earned|||||46,279|64,660|
||Sale of works|||||~4019|799|
|||||||50298|~65 459|
##
##
##
||||||||
|---|---|---|---|---|---|---|
|4.|INVESTMENT INCOME||||||
||||||2021|2020|
||||||E|E|
||Rents received||||1,800|2,913|
||Deposit account|interest|||267|874|
||||||~2067|~3787|
||RAISING FUNDS||||||
||Other trading|activities|||||
||||||2021|2020|
||||||E|E|
||Participants
artwork|||||228|
||Materials||||116||
||Postage, printing|ik stationery|||74|177|
||Artists fees||||1,702||
||Sundry expenses|||||65|
||Payment fes||||||
||||||~1896|470|
|6.|CHARITABLE ACTIVITIES COSTS||||||
||||||Support||
|||||Direct|costs (see||
|||||Costs|note 7)|Totals|
|||||E|E|E|
||projects|||~595 360|~111691|707051|
|7.|SUPPORT COSTS||||||
||||||Governance||
|||||Management|costs|Totals|
|||||E|E|E|
||projects|||~107011|~4680|~111691|
||Support costs, included||in the above, are as follows:||||
||||||2021|2020|
|||||||Total|
||||||projects|activities|
||||||E|E|
||Wages||||52,963|44,575|
||Social security||||5,298|4,415|
||Pensions||||2,539|1,783|
||Rent, utilities 8 insurance||||11,665|10,761|
||Telephone Binternet||||1,928|1,333|
||Postage Ir Stationery||||4,369|3,940|
||Travel 8 subsistence||||141|829|
||Repairs||||21,445|7,592|
||Bank charges||||160|318|
||Depreciation
oftangible
Auditors'
remuneration||and heritage assets||6,503
~4680|5,939
~4500|
||||||~111691|~85 985|
##
##
||||2021|2020|
|---|---|---|---|---|
||||E|E|
|Audit|||2,340|2,250|
|Accountancy|||2,340|2,250|
|Depreciation|—owned|assets|~17811|~18 346|
##
##
##
##
##
|STAF|F COSTS|||
|---|---|---|---|
|||2021|2020|
|||E|E|
|Wages|and salaries|287,928|274,675|
|Social|security costs|27,649|20,394|
|Other|pension costs|~13167|~11013|
|||~328 744|~306082|
|The average|monthly|number|ofemployees|during the year was as follows:|||
|---|---|---|---|---|---|---|
||||||2021|2020|
|Programme|ILAdministration||staff||11|13|
##
##
|11.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|ACTIVITIES|||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||E|E|E|
||INCOME AND ENDOWMENTS|||FROM||||
||Donations
and legaaes||||4,711|525,626|530,337|
||Other trading
activities
Investment
income||||58,544
~3787|6,915|65,459
~3787|
||Total||||67,042|532,541|599,583|
||EXPENDITURE ON|||||||
||Raising funds||||470||470|
||Charitable
activities|||||||
||projects||||74,882|673,751|748,633|
||Total||||~75 3'52|~673751|~749 103|
||NET INCOME/(EXPENDITURE)||||(8,310)|(141,210)|(149,520)|
||Transfers between||funds||~17063)|~17063||
||Net movement
in funds||||(25,373)|(124,147)|(149,520)|
||RECONCILIATION|OF FUNDS||||||
||Total funds brought||forward||102,348|491,747|594,095|
||TOTAL FUNDS CARRIED FORWARD||||~76 975|~367600|~444 575|
|12.|TANGIBLE FIXEDASSETS|||||||
|||||||Fixtures||
|||||Short|Plant and|and||
|||||leasehold|machinery|fittings|Totals|
|||||E|E|E|E|
||COST|||||||
||At 1 April 2020|||97,443||73,194|170,637|
||Additions|||||11,619|11,619|
||Disposals||||~8165)|~35493)|~43 658)|
||At 31 March 2021|||~97 443|~8165)|49 320|1~38598|
||DEPRECIATION|||||||
||At 1 April 2020|||40,506||62,588|103,094|
||Charge for year|||7,715||10,096|17,811|
||Eliminated
on disposal||||~7536)|~34079)|~41 615)|
||At 31 March 2021|||48 221|~7536)|~38 605|~79290|
||NET BOOK VALUE|||||||
||At 31 March 2021|||~49 222|~629)|~10 715|~59 308|
||At 31 March 2020|||~56937||~10 606|~67 543|
##
##
##
|13.|DEBTORS:AMOUNT|S
F|ALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E||
||Trade debtors|||6,772|9,459|
||Prepayments
and accrued||income|~7629|~3997|
|||||14401|~13456|
|14.|CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE YEAR|||
|||||2021|2020|
|||||E|E|
||Trade creditors|||20,532|9,515|
||Social security and other taxes|||7,350|6,983|
||Other creditors|||3,607|1,984|
||Accruals and deferred|income||~10680|~4500|
|||||~42 169|~22 982|
|||||2021|2020|
|---|---|---|---|---|---|
|||||E|E|
|Within one year||||17,500|17,500|
|Between|one and five years|||70,000|70,000|
|In more|than five years|||~85 247|~102747|
|||||~172 747|190247|
|ANALYSIS OF NET ASSETS BETWEEN FUNDS||||||
|||||2021|2020|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||E|E|E|E|
|Fixed assets||8,656|50,652|59,308|67,543|
|Current|assets|118,483|762,112|880,595|400,014|
|Current|liabilities|~25211)|~16958)|~42 169)|~22 982)|
|||~101928|~795 806|~897 734|~444 575|
##
##
||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between|At|
|||||At 1.4.20|in funds|funds|31.3.21|
|||||5|f|I|E|
|Unrestricted||funds||||||
|General
Reserve|Designated||funds|36,332
~40 643|(68,137)
840|76I,0BB
~18162|42,283
~59 645|
|||||76,975|(67,297)|92,250|101,928|
|Restricted funds||||||||
|Capital||||6,833|(7,165)|6,079|5,747|
|projects||||140,850|161,470|76,903|379,223|
|National|Lottery|||||||
|||||66,281|3,470|(69,751)||
|Arts Council||- projects||||||
|||||63,173|304,067|(95,481)|271,759|
|Big Lottery Fund Capital Grant
Paul Hamlyn
—projects||||50,463
~40 000|(5,558)
~64 172|~10000)|44,905
94 172|
|||||~367600|~520456|~92 2SG)|~795 806|
|TOTAL|FUNDS|||~444 575|~453 159||~897734|
|Net movemen|t
in fun|ds,
included
in the above a|re as follows:|||
|---|---|---|---|---|---|
||||Incoming|Resources|Movement|
||||resources
5|expended
5|in funds
I|
|Unrestricted|funds|||||
|General
Designated||funds|38,586|(106,723)|(68,137)|
|Reserve|||840||840|
||||39,426|(106,723)|(67,297)|
|Restricted funds||||||
|Capital||||(7,165)|(7,165)|
|projects|||419,334|(257,864)|161,470|
|National
Lottery||||||
||||44,547|(41,077)|3,470|
|Arts Council|—projects|||||
||||352,869|(48,802)|304,067|
|Big Lottery Fund Capital Grant||||(5,558)|(5,558)|
|Paul Hamlyn|- projects||83,500|(19,328)|64,172|
|Arts Council
Paul Hamlyn|—core
—core||152,430
~70000|(152,430)
~70000)||
||||I 122680|~602 224)|520 456|
|TOTAL FUNDS|||1 162 196|~7999473|453 159|
##
##
|Compa|rativ||s
for|movem|ent
in f|unds|||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Net|Transfers||
|||||||||movement|between|At|
||||||||At 1.4.19|in funds|funds|31.3.20|
|||||||||E|E.|E|
|Unrestricted|||funds||||||||
|General
Reserve|Designated|||funds|||68,913
~33435|(8,310)|(24,271)
~7208|36,332
~40643|
|Restricted||funds|||||102,348|(8,310)|(17,063)|76,975|
|Capital|||||||7,415|(6,849)|6,267|6,833|
|projects|||||||95,598|4,775|40,477|140,850|
|National|Lottery||||||||||
||||||||46,584|29,378|(9,681)|66,281|
|Arts Council|||- projects||||||||
||||||||286,129|(202,956)|(20,000)|63,173|
|Big Lottery Fund Capital Grant|||||||56,021|(5,558)||50,463|
|Paul Hamlyn|||- projects|||||~40 000||~40 000|
||||||||491 747|~141210)|~17063|~367600|
|TOTAL|FUNDS||||||594 095|~149520)||444 575|
|Comparative|||net movement||in funds,|included|in the above are as follows:||||
|||||||||Incoming|Resources|Movement|
|||||||||resources|expended|in funds|
||||||||||E|E|
|Unrestricted|||funds||||||||
|General|Designated|||funds||||67,042|(75,352)|(8,310)|
|Restricted funds|||||||||||
|Capital|||||||||(6,849)|(6,849)|
|projects||||||||190,103|(185,328)|4,775|
|National|Lottery||||||||||
|||||||||126,262|(96,884)|29,378|
|Arts Council||—projects|||||||||
||||||||||(202,956)|(202,956)|
|Big Lottery Fund Capital Grant|||||||||(5,558)|(5,558)|
|Paul Hamlyn|||- projects|||||66,500|(26,500)|40,000|
|Arts Council||—core||||||~149 676|~149676)||
|||||||||~532 541|~673 751)|~141210)|
|TOTAL|FUNDS|||||||~599 583|~749 103)|~149520)|
##
##
|||||||Net|Transfers||
|---|---|---|---|---|---|---|---|---|
|||||||movement|between|At|
||||||At 1.4.19|in funds|funds|31.3.21|
||||||E|E|E|E|
|Unrestricted|||funds||||||
|General|Designated|||funds|68,913|(76,447)|49,817|42,283|
|Reserve|||||33435|840|~25 370|~59645|
||||||102,348|(75,607)|75,187|101,928|
|Restricted||funds|||||||
|Capital|||||7,415|(14,014)|12,346|5,747|
|projects|||||95,598|166,245|117,380|379,223|
|National|Lottery||||||||
||||||46,584|32,848|(79,432)||
|Arts Council|||—projects||||||
||||||286,129|101,111|(115,481)|271,759|
|Big Lottery
Paul Hamlyn||Fund Capital Grant
- projects|||56,021|(11,116)
~104 172|~10000)|44,905
94 172|
||||||~491 747|~379 246|~75 187)|795806|
|TOTAL|FUNDS||||594095|~303639||897734|
|||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|
|||||resources|expended|in funds|
|||||E|E|E|
|Unrestricted||funds|||||
|General
Designated|||funds|105,628|(182,075)|(76,447)|
|Reserve||||840||840|
|||||106,468|(182,075)|(75,607)|
|Restricted|funds||||||
|Capital|||||(14,014)|(14,014)|
|projects||||609,437|(443,192)|166,245|
|National
Lottery|||||||
|||||170,809|(137,961)|32,848|
|Arts Council||—projects|||||
|||||352,869|(251,758)|101,111|
|Big Lottery|Fund Capital Grant||||(11,116)|(11,116)|
|Paul Hamlyn||- projects||150,000|(45,828)|104,172|
|Arts Council-
Paul Hamlyn||core
—core||302,106
70000|(302,106)
~70000)||
|||||~1655221|~1275975)|~379246|
|TOTAL FUNDS||||~1761689|~1458050)|~303639|
##
##
##
##
##
##
##
##
##
##
##
|||Detailed Statement o
for the Year Ended|f Financial Activities
31March 2021||
|---|---|---|---|---|
||||2021I|2020
E|
|INCOME AND ENDOWMENTS|||||
|Donations
and|legacies||||
|Donations|||25,346|33,059|
|Gift aid|||274|256|
|Grants|||1,045,066|493,726|
|HMRC employment||allowance|4,000|3,000|
|Other income
Government
grants|||1,793
~33262|296|
||||1,109,741|530,337|
|Other trading activities|||||
|Fees Earned
Sale ofworks|||46,279
~4019|64,660
799|
||||50,298|65,459|
|Investment
income|||||
|Rents received|||1,800|2,913|
|Deposit account|interest||267|874|
||||2 067|3787|
|Total incoming|resources||1,162,106|599,583|
|EXPENDITURE|||||
|Other trading activities|||||
|Participants
artwork||||228|
|Materials|||116||
|Postage, printing|8|stationery|74|177|
|Artists fees|||1,702||
|Sundry expenses||||65|
|Payment fes|||||
||||1,896|470|
|Charitable
activities|||||
|Wages|||234,965|230,100|
|Social security|||22,351|15,979|
|Pensions|||10,628|9,230|
|Artist fees|||156,590|135,866|
|Artist planning/induction|||4,723|8,487|
|Statf training|||4,909|1,783|
|Production|||23|303|
|Project evaluation|||5,500|12,500|
|Archivist|||6,416|7,929|
|Editing||||2,000|
|Professional
fees|||6,077|12,590|
|Materials|||17,974|19,171|
|Photography
ik film|||1,176|1,291|
|Carried forward|||471,332|457,229|
##
||||
for the Year Ended 31|
March 2021||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E|E|
|Charitable
activities||||||
|Brought forward||||471,332|457,229|
|Installation||||780|315|
|Fees, submissions
82ait fairs||||182|602|
|Exhibition
costs|||||949|
|Equipment
and venue|hire|||265|1,090|
|Rent, utilities 8 insurance||||23,739|22,787|
|Computer h website costs||||9,161|9,369|
|Postage
82 stationery||||69|230|
|Travel
82 subsistence||||846|29,583|
|Events
82 conferences||||750|4,920|
|Hospitality||||1,316|3,102|
|Health 8 safety regulations||||9,551|2,118|
|Repairs||||8,836|3,821|
|Subscriptions||||877|634|
|Venue hire||||1,023|120|
|Miscellaneous||||4,300|1,884|
|Technical
support||||570|5,220|
|Specialist support||||9,838|15,488|
|Volunteer
costs|||||83|
|Explorers partners||||33,790|71,785|
|Fundraising||||3,870|11,895|
|Claremont||||529|2,660|
|Marketing||||384|4,357|
|Short leasehold
amortisation||||5,558|5,558|
|Fixtures
82fittings depreciation
Impairment
losses for tangible||fixed|assets|5,751
~2043|6,849|
|||||595,360|662,648|
|Support costs||||||
|Management||||||
|Wages||||52,963|44,575|
|Social security||||5,298|4,415|
|Pensions||||2,539|1,783|
|Rent, utilities
82 insurance||||11,665|10,761|
|Telephone
8 internet||||1,928|1,333|
|Postage
82 Stationery||||4,369|3,940|
|Travel
82 subsistence||||141|829|
|Repairs||||21,445|7,592|
|Bank charges||||160|318|
|Short leasehold
amortisation
Fixtures
82fittings depreciation||||2,158
4 345|2,158
~3781|
|||||107,011|81,485|
|Governance costs||||||
|Auditors'
remuneration||||4 590|4 DDD|
|Total resources expended||||709947|749 103|
|Net income/(expenditure)||||453 159|~349 5202|