**REGISTERED COMPANY NUMBER: 05115045 (England and Wales) REGISTERED CHARITY NUMBER: 1104301** **(A Company Limited by Guarantee) Report of the Trustees & Audited Financial Statements For the year ended 31 March 2022** **Project Art Works** ## **Contents of the Financial Statements for the Year Ended 31 March 2022** ||**Page**| |---|---| |**Report of the Trustees**|1 to 8| |**Report of the Independent Auditors**|9 to 11| |**Statement of Financial Activities**|12| |**Balance Sheet**|13| |**Cash Flow Statement**|14| |**Notes to the Financial Statements**|15 to 25| |**Detailed Statement of Financial Activities**|26 to 27| ## **Project Art Works** ## **Report of the Trustees for the Year Ended 31 March 2022** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in UK and the Republic of Ireland published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016). ## **1. CHARITABLE ACTIVITIES** ## **1.1 Vision and Mission** 'I want to say that the Support Collective offers solace and support to many people who are feeling isolated and abandoned and possibly in moments of despair. Just through sharing and being listened to, it provides a relief for many. Whether those individual situations are similar or not, there's always something that's learnt and something that can be given. I might have some knowledge that may assist somebody else and that's a good feeling too, to know that you are able to help others. There's a lot of information and knowledge shared within the group, which is invaluable. Then of course you have E at the helm, who is such a discreet and gently guiding support. It's a very kindly collective.' Parent Carer 'I just thought it looked absolutely amazing! What had tempted me first of all was seeing it on the news report. I immediately thought, that looks amazing. I thought when I am in Hastings next here I will have a look in. I'm absolutely blown away by this! The idea that this is special needs people and it's helping them to get their feelings out. What an amazing job! Absolutely, completely, incredible! To think that these people can produce artwork like this is absolutely amazing! I was just saying to my husband that I like the idea that these could be bought as posters., This is wonderful. We're really, really enjoying it. It's totally important for people to look at this and to see what can be achieved. That's what's so amazing. With this, you just think, wow, this should be around the country! This needs to be taken elsewhere and it needs a great space. This is a really great space to have it. I love whoever thought about hanging it like this. Absolutely, excellent! I just think more people need to see it. It's just absolutely wonderful. How do I become involved in a project like this? I would love to become involved. Maybe there are more people like me, who might be fairly local, but might like to become involved.' Extract of visitor interview' Ignition Exhibition', Hastings Contemporary **Our vision** is a society that places value on the capabilities of people with complex needs, families and support workers, and invests in stable and sustainable support and care so they can realise their potential. We believe that art can, through both its process and its final form, reflect and articulate ideas that transcend difference and reach people. **Our mission** is to change lives through art by exploring potential and promoting works by neurodivergent artists and makers through a wide range of projects, partnerships and exhibitions. Our programmes evolve through personalised, supported studio practice and radiate out to awareness raising, long-term collaborations, and skills development with social care and cultural partners. **Our work** aspires to excellence in contemporary visual art and is uniquely positioned to bridge the social care and cultural sectors in ways that promote sustainable relationships and bring people with complex needs into the heart of civic and cultural life. Founded in 1997, Project Art Works collaborates with people with complex support needs, families and circles of support. Our practice intersects art and care, responding to[1] neurodivergence, its gifts and impacts. Challenging paradigms of inclusion, it spans direct practical and holistic support, film, events, projects and exhibitions. > 1 **Neurodiversity** is a concept where neurological differences are recognized and respected as any other human variation. Page 1 **Project Art Works** ## **Report of the Trustees for the Year Ended 31 March 2022** Our studios provide the conditions for a broad range of autonomous and collaborative practices with neurodivergent artists, who take part on their own terms. Alongside the studios, the Support Collective brings together people who care for people with complex support needs where we share our experience and protect our rights through training, resources and advocacy. Our practice responds to the functional and ethical structures of care, respecting self-determination and privacy whilst working towards greater visibility and understanding of neurodiversity in culture. Project Art Works is an Arts Council England National Portfolio Organisation. Alongside neurodiverse artists and makers, the collective includes paid and unpaid caregivers who help each other to navigate and harness health and social care systems. ## **Our approach** From our studio base in Hastings and in temporary studio set-ups during off-site projects and workshops, we facilitate personalised creative pathways for artists and makers. The studio spaces are without hierarchy where events and happenings unfold, and artists work together in purposeful collaboration using total communication - active listening, gesture, sound, signing, and inclusive environments and attitudes. ## Our aims are to: - collaborate with people who have complex support needs in ways that increase their wellbeing - provide advocacy and support for families, unpaid carers and support teams of people who have complex needs - change perceptions and enable the wider community and art audiences to appreciate how neurodiverse communities enrich our lives. The activities and ethos of Project Art Works reflect the social model of disability that in its simplest form moves the focus away from peoples' impairments and towards removing the barriers to inclusion that disable people in everyday life. ## **1.2 Strategic Development:** Our work is planned and developed within the strategic priorities of: - DEEPER - through expanding best practice - BROADER - through collaborations with art driven change agents - BIGGER - across society through strategic communications ## **1.3 Key achievements 2021/2022** Turner Prize 2021 Nomination A selection of work was exhibited at the Herbert Gallery and Museum, Coventry. The installation included a studio area and a central constructed space enclosing a physical and digital archive from over 4,000 works by neurodivergent artists and makers over two decades. The archive embodies a visible trace of people who are often hidden in the world. 'Yet it's one thing for art experts to hail outsiders. It's another to abolish the line between outside and inside, to include such art in the culture of the establishment on equal terms. But that is what Project Art Works do in their emotional room in this year's Turner prize exhibition. Project Art Works provide the materials, space, tutoring and exhibiting opportunities for people they term neurodiverse to make art. They get my vote and I suspect the popular vote too.' Jonathan Jones, The Guardian ## **Ignition Hastings Contemporary** Project Art Works temporarily took over part of Hastings Contemporary for a collaborative residency to recover and reconnect as the winter ended and spring began. This collaboration marked the emergence from a long year of lockdown and isolation to a more hopeful and safer environment within the gallery space. Following on from the residency, the Project Art Works exhibition opening at Hastings Contemporary coincided with opening of The Turner Prize Exhibition at The Herbert Gallery in Coventry City of Culture. 'In this way, Christopher Tide's simple colour structures Untitled - single towers composed of broad, heavily applied brush strokes, coexist alongside Stanley Ellis and Louise Newham's Untitled (2012) with its animalistic shapes, defined cuts, sweeping strokes. The pieces all occupy vastly different territories, yet to walk from one to the next seems to bring them together in a strange way, as if they are talking to each other, finding points of contact, sinking down into spaces of understanding.' Extract James Zatka-Haas, Disability Arts Online Page 2 ## **Project Art Works** ## **Report of the Trustees for the Year Ended 31 March 2022** ## **1.4 Deeper - inhouse programmes** Adult Social Care funding increased with government grants during the pandemic to support the additional costs associated with PPE. We were able to benefit from this funding in support of the delivery of our in-house programmes. There is a recruitment crisis of Care Workers within East Sussex. The impact is being felt by neurodiverse people and their support network. It has been particularly difficult for parent carers who manage a personal provision for their adult child, being unable to recruit support has placed an increased burden with very little respite available. There is recognition of the importance and impact that Voluntary, community and social enterprises have on the adult social care provision. 'A key partner in East Sussex is the voluntary, community and social enterprise (VCSE) sector. The VCSE sector generates economic, social and environmental benefits to communities across the county. For every eight businesses that employ staff in East Sussex, there is at least one VCSE organisation. The vast majority of these VCSE organisations are small; they employ at least 6,000 people across the county; and their volunteers contribute a total of 9.6 million hours each year - equivalent to almost 6,000 full-time workers. The GVA (gross value added) of East Sussex VCSE organisations is at least £76m and the value of volunteering to the local economy is estimated at £110m. The VCSE organisations are often the first to respond to the needs of communities. Organisations provide specialist support that is often not available from other providers. They take a person-centred approach, supporting people to access the different systems they need in order to be able to live an independent life. They are also providing safe, accessible, and inclusive spaces for individuals, groups and the wider community, that support inclusion and belonging.' Extract from East Sussex County Council Plan 2022/23 Project Art Works continues to work with health and social care services in East Sussex and across the UK. Demand for our in-house programmes continues to grow with enquiries from Social Services, Transition teams and care settings seeking community based, specialised activity for young people and adults. ## **Art Freedom Care** Art Freedom Care is a programme highlighting the creative and social contribution of people with complex needs, families and support workers. Through holistic support around the individual, we provide the right environment to enable people with complex needs to participate in creativity on their own terms. The creative programme takes place in our studios where 40 adults with complex needs have a creative practice throughout the year. Our inclusive studios in Hastings offer specialist visual arts provision for new and existing participants with complex support needs, facilitating their creativity through personalised pathways. Artists and makers can come to the studio for the same session(s) each week, building a community of peers and collaborators. Each session is tailored to individual needs and the development of personal creative pathways. Neurodiverse artists have had opportunities to represent themselves by taking part in workshops within exhibitions at the Turner Prize, Herbert Gallery, Coventry and Hastings Contemporary. The work was profiled on a number of online websites and press articles including British Vogue, Disability Arts Online, The Guardian and mainstream television. The National Lottery commissioned us to support a neurodivergent artist to make an artwork for their 30 Million campaign in May 2020. The studio has hosted a number of visits from people wanting to find out more about the work due to our increased profile. As part of Art Freedom Care, the Support Collective brings together people with lived experience of complex support needs, their circles of support, families, carers, support workers, PAs and representatives from health and social care. We collectively share the aim of working towards person-centred, accountable and inclusive models of support and care, and protecting the rights of people with support needs. Through free training, skills development and advocacy, families and caregivers have opportunities to utilise and develop their knowledge. Over the past 12 months we have provided workshops and training that support people to move forward and plan for their future including an introduction to personal budgets, recruiting and employing personal assistants, managing staff and rotas, Positive behaviour support and Makaton. We have also worked with families in crisis or transition using PATH (Planning Alternative Tomorrows with Hope) facilitation. 'The Makaton training was great. I've just started working with a young gentleman who I knew used basic signing when he was younger but has stopped using it over the years. I've started using it with him and he's remembered it! It's helping me get to know what he wants - his likes and dislikes.' Carer Page 3 ## **Project Art Works** ## **Report of the Trustees for the Year Ended 31 March 2022** ## **Art Breaks** Art Breaks is an ongoing creative programme for children with complex support needs, their siblings and family which is funded through BBC Children in Need and a number of Trusts and Foundations. Covid-19 has impacted on all respite and children's services with an increase in children and young people being home schooled as available provision is inadequate. We provide creative workshops at weekends and in school holidays in our buildings. The studios are set up with open propositions of approaches and materials. All of the participants are encouraged to lead on their artistic involvement. Their response to the space and materials inspires innovative artwork and shapes the project and how it is facilitated. There is no pre-determined outcome within the workshops, and individual responses are valued and respected. This personalised approach gives all participants ownership over the environment and recognises all levels of creative input. The project supports all members of the family where participants, parents and siblings can take part in the supportive creative activity that shapes the environment. 'Amazing, I don't have words to describe it. It was really fun. It gave me, my son and my daughter so much enjoyment and most importantly HOPE' Parent 'It has made a real difference to their mental wellbeing over this second lockdown period. It had fed L's creative spirit and encouraged her to move forward with her art rather than stuck repetitively redoing the same pictures.' Parent ## **1.5 Broader - Offsite Programme** ## **Turner Prize Exhibition 2021, Herbert Gallery, Coventry City of Culture** Project Art Works was nominated for our practice which celebrates and raises awareness of the dynamic and extraordinary contribution neurodiverse communities make to art and culture. There are drawings and paintings hung up around the perimeter of the space; large scale and imposing, clean, there are little accordion books that fold out behind the glass wall of a vitrine. Then this proper-ness ruptures into something so much more unstable and interesting. The middle of the space is taken up by a huge block with open walled shelves; archive and storage for stack upon stack upon stack of paintings on stretched canvas, rolled up paper works, little boards. The works on the wall at the moment are just the surface, and this big storage set up has a heft. I walked up to a stack to peer round the edge of one canvas, the stack tipped open in the middle like a book. This storage isn't just about hinting at all the other possibilities for arrangement, the heft of this archive is a point in and of itself. Like saying, 'this is what's possible: look at all this work that exists.' The White Pube ## Visitors: 34,236 ## **Ignition Exhibition- Hastings Contemporary** Ignition began as a residency in the main gallery space at Hastings Contemporary during the last national lockdown, with artists working in the temporary studio while the building was closed to visitors. Ignition - The Exhibition will feature works made during this innovative intervention as well as works from the Project Art Works archive. A series of public events accompanied the exhibition. 'This exhibition celebrates the incredible and dynamic contribution of neurominorities to art and society and reflects the commitment and ambitions of Hastings Contemporary to be a cultural hub for Hastings.' Liz Gilmour, Director, Hastings Contemporary ## Visitors: 8,345 ## **Have You Ever Had, Sharif Persaud Exhibition** The exhibition shows artworks made by Sharif Persaud and the film 'The Mask' which was part of the body of films nominated for the Jarman Film Award 2020. First opened in February 2020 at Autograph Gallery London, it was closed by the Covid -19 lockdown. In June 2020 it reopened and the show travelled onto Bexhill's De La Warr Pavilion opening in October 2021. 'A short film in which a man walks along the South Coast wearing an Al Murray mask has been nominated for a film award. Sharif Persaud improvised dialogue for the camera as he walked the five miles from Hastings to Bexhill. Over the course of The Mask talks about himself and what it means to have autism, mixing his real voice and a more gravelly tone of his alter-ego. And at the end of the walk, he interviews the real Al Murray in the dressing room of the De La Warr Pavilion. Now it has been nominated for the Jarman Award handed out by London's cutting-edge Whitechapel Gallery for films that 'celebrate the spirit of experimentation, imagination and innovation.' Chortle magazine Page 4 **Project Art Works** ## **Report of the Trustees for the Year Ended 31 March 2022** Visitors: De La Warr Pavilion 15,537 Autograph 12,459 ## **EXPLORERS II** EXPLORERS ll will build a strong collaborative partnership of cultural enablers working to increase visibility & support for neurodivergent artists in contemporary visual art. The project runs from 2021 to 2023 and the core leadership group of Project Art Works, Autograph, ActionSpace, Intoart, MK Gallery, Photoworks, Venture Arts, BALTIC are working with associates and allies to catalyse change. Partners are supporting artist residencies and developing collaborations with others, enabling them to test new approaches and engage different audiences. Encounters between neurodivergent and neurotypical audiences will: - introduce cultural organisations to the lives led by neurominorities and their circles of support to promote understanding and more effective ways of working - inspire organisational change so that neurominorities have more opportunities to contribute their talents, ideas and experiences - show exceptional work of neurodivergent artists and ensure they have a platform to articulate the specific changes organisations need to make to ensure inclusive participation and representation. ## **DOCUMENTA FIFTEEN** Project Art Works has been commissioned to contribute to documenta fifteen, an international showcase of contemporary art, that will take place over 100 days between June 18 until September 25, 2022 in Kassel, Germany. Ruangrupa is an artist collective based in Indonesia and form part of the curatorial team for documenta fifteen. 'We want to create a globally oriented, cooperative, interdisciplinary art and culture platform that will remain effective beyond the 100 days of documenta fifteen. Our curatorial approach aims at a different kind of collaborative model of resource use-economically, but also in terms of ideas, knowledge, programs, and innovation.' Project Art Works is 1 of 15 collectives invited by Ruangrupa and the curatorial team, to contribute to documenta fifteen collaborative actions and artworks. ## **Art on loan** Through Art on Loan we develop mutually beneficial relationships with the corporate sector. Art on Loan offers businesses and individuals the opportunity to hire or buy original artworks for exhibition from our archive. The works in the collection have been created by Project Art Works' artist makers and consist largely of paintings, prints and drawings which encompass a diverse range of approaches to image making: from figuration to abstraction. The collection is constantly expanding and is a live and vibrant resource. Art on Loan enables Project Art Works to access corporate philanthropy through our most significant donor asset, the art. It also enables us to increase awareness about our work and the people we work with in this sector. We negotiate a donation with each business and this contributes to a more sustainable and diverse funding base. New relationships are being built as companies emerge from the pandemic and return to the workplace. ## **Premier Inn - Premier Plus** Behind the scenes during lockdowns, the Premier Inn team upgraded a significant number of their rooms to Premier Plus. We negotiated a license agreement for reproducing prints of original works in 2020 which has proved to be fruitful. the partnership remains strong with the rollout of Premier Plus rooms is moving at pace. Project Art Works and the neurodiverse artist' work is credited in every space where the reproductions are used. ## **1.6 Bigger: communications driving our strategic objectives** ## **Communications** Through increased profile and exhibitions, we have reached a broader range of new audiences, expanding our network and impact. Our website has undergone an accessibility audit by a neurodiverse artist and key areas for improvement have been identified and will be implemented in the first quarter 2022-23. Regular newsletters are sent to subscribers, with news items posted across the digital platforms. A more targeted approach has been taken to provide support and information to key stakeholders such as the Support collective. Digital engagement has increased significantly over the last year in response to our increased profile. Media attention has reinforced our national reputation as leaders within inclusion and relevance and demonstrates growing interest in neurodiversity reflected in features in Vogue (225.6K av. daily website page views + monthly print circulation) and The Guardian (720K av. daily website page views to website + av. daily readership print publication). Page 5 **Project Art Works** ## **Report of the Trustees for the Year Ended 31 March 2022** ## **National Lottery 30 Million campaign** Following on from the successful national billboard campaign between Project Art Works and Camelot in October 2020 for the National Lottery 30 Million campaign, a second campaign was commissioned. Neurodiverse artist Siddarth Gadiyar was selected to produce a new artwork for the campaign identity. The campaign was supported by a short film which was linked on The Camelot website and was used as part of a feature in The Mirror newspaper and website. The artwork was also used in a national billboard and bus shelter campaign. 'It will be interesting to see how Sid reacts if he sees his work when he's out and about. I'm so happy he's done it. His whole life I've been told 'he can't go here, he can't do that', so it's amazing he's doing this [The National Lottery campaign] and contributing to society." Susmitha (mother) is full of praise for Project Art Works who welcomed Sid with open arms despite what she describes as a "long list" of challenging behaviours. She said, "I read Project Art Works the whole list and they didn't hesitate, they just said 'bring him'. They make everything safe for him by putting away breakables, shutting all the doors and removing triggers.' Online article, The National Lottery The National Lottery nationwide billboard campaigns in 2020 and 2021 and associated advertising campaign in The Mirror featuring artwork made by 2 neurodivergent artists reached over 111.5m people (figure supplied by Camelot). ## **2. GOVERNANCE** There were no changes to the Trustees or the board during this year. The board consists of 6 trustees and 3 neurodiverse artist/advocates. ## **3. ACHIEVEMENTS AND PERFORMANCE** During 2021-22 Project Art Works: - Delivered 546 sessions of artistic engagement for people with complex needs across our programme. - • Delivered 11 Support Collective meet-up for families plus multiple 1:1 individual support sessions, 7 skill building training sessions and 18 PATH sessions. - Delivered 13 online and in-person talks and interviews to raise awareness - Reached over 70,000 exhibition visitors - Increased the profile and interest in neurodiversity and neurodiverse artists through publicity around the Turner Prize, Autograph gallery, Hastings Contemporary and DLW pavilion exhibitions. - 'Illuminating the Wilderness' film screened at mainstream venues including the Barbican Centre - Increased our digital reach with new audiences and information sharing across online platforms. - • Maintained our corporate loan activity and the licensing agreement for reproduction rights for use in Premier Plus rooms. - Maintained a pulse of activity through Claremont Gallery window with a series of window exhibitions. - Maintained a community presence through the studio practice and raising awareness and inviting neurodiverse community to join in workshops as part of our exhibition programme. ## **3.1 Major awards** - DCMS Arts Council Cultural Recovery Fund awarded £183,500 - The National Lottery, Reaching Communities £249,000 over three years - Paul Hamlyn Foundation, £250,000 over 4 years to support Explorers II and Core - Esmee Fairbairn, Covid-19 Resilience funding year 2 of 2 £60,000 (£120,000 over two years) with agreement to continue funding for an additional two years at £75,000 per annum. - The Rayne Foundation, year 2 of 3 £25,000 (£75,000 over three years to support Core) The Board of Trustees, Project Art Works team, participants, families and support networks would like to thank all our funders for their continuing support, without which our participants voices could not be heard. ## **4. FINANCIAL REVIEW** ## **4.1 Reserves policy** The Trustees annually consider the reserves policy and the risks facing the organisation, they have agreed a strategy to continue to build reserve funds over the next 5 years. Reserves were identified for two distinct areas: - I Building - the Trustees considered potential risks not covered by insurance or planned expenditure. II Operational - the Trustees considered that reserves should be built up to cover potential risks as follows: - a. 3 months operational costs - b. redundancy costs, contingency for outstanding liabilities, and professional costs Page 6 **Project Art Works** ## **Report of the Trustees for the Year Ended 31 March 2022** - c. - d. contingency for fluctuations in funding cycles. In 2021-22 we were able contribute £10,254 toward building reserves that protect the continuation of our core work and provide cover for risks such as unforeseen expenditure and loss of anticipated income. Going forward we aim to develop unrestricted income through Art on Loan and associated sales of work to build reserves. The total amount of funds held at 31 March 2022 was £927,886 (2021 - £897,734). Of these funds £758,290 (2021 - £795,805) were restricted. Unrestricted funds were £169,596 (2021 - £101,928). ## **FULFILMENT OF PUBLIC BENEFIT REQUIREMENTS OF THE CHARITIES ACT 2006** Project Art Works provides benefits to children, young people and adults who have profound neurological and physical impairment in the form of access to high quality visual art projects that support them in communication and self-expression and which break down barriers to their rights and equalities. These benefits are related to our stated aims: 'The objects of Project Art Works shall be to relieve persons, and in particular children and young people with disabilities by the provision of facilities for the practice and study of art as a form of therapy.' The benefits derived by participating individuals are carefully monitored and evaluated against any detriment or harm. Participants are protected through the implementation of a Children and Vulnerable Adults protection policy, and through risk assessments carried out in liaison with care agencies and/or parents. The beneficiaries are appropriate to the aims, with an emphasis on individuals at the highest end of the spectrum of complex needs. There are no direct charges to individuals. ## **STRATEGIC REPORT** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **Trustees** New trustees are appointed on the nomination of the Trustees made in the light of the Charity's needs and following an interview. Their induction includes meeting office staff, being briefed on procedures, and addressing any training needs they may have. ## **Management** The day to day management has been delegated to K Adams. The trustees held three board meetings during the year which were also attended by key personnel. Major risks have been have been reviewed and systems and procedures have been established to manage the risks. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The major risks have been reviewed and systems and procedures have been established to manage those risks. Throughout the course of the year, Trustees were kept appraised by senior management of potential external threats and opportunities to the organisation. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 05115045 (England and Wales) ## **Registered Charity number** 1104301 ## **Registered office** Arch 3 Braybrook Terrace Hastings East Sussex,TN34 1TD Page 7 Report of the Trustees for the Year Ended 31 Marth 2022 N Candler M Purdey C Whisder N L Farrington J N Cannell L M GutOW5ki (￿gned 12.9.21) Company Secretsry W Rouuey Audito Deeks Evans Audfc se￿￿$ Limi￿￿ Statutw AuditL 36 Cambrodge Roi Hastings East Su TN34 IDU TRUSTEES. RESPONSIBILrri ￿ATEMENT The trustee5 (vhK) a￿ also ts diT&tors Art Wcrts f￿ of mmpany L￿) a￿ ￿$pC￿Sib1e for eparing the Re[￿rt of the TN#ees and the financial stalen￿ts In ￿C￿da￿e with apylicatrje and UThted KiThJdom Accounting Stsndards (Urmted Kingdom L*ner*fy kcerted P£cwnling P￿tI￿) rtudirvJ ￿nanCIal RekK)￿ng Stsndard 102 'The Fina￿al RepK*b'ng Stsryjard tii the UK and of I￿lan[r Company law requires the trustees to ixepare finar1301 Stat*)￿ fL¥ fvrtyl year which a true aThJ fa* v of the state ￿ affairs of the charilable company rfthe incrffiNvJ res￿r￿ arK1 apFlication of ￿9)urceS. indudiThJ the irmrne and expeDdrtU￿, of the CharItsb￿ compwy for that FerKtyJ. Ln PEparing those financd staterrEnts, the tsustees are required to sel&t suitaiAe accourting FdiLies a￿1 them c(x&#enty' observe the method5 and prinoples in the Owity SORP; make judgements and estimates that are rea￿b￿ and ry￿￿nt. Prepa￿ the fina￿Tal statements ffl the C(￿￿eM basis is irnatvcyk4te tr) presume that the tharts￿e company ccrfrtinue ￿ trtN"W. The trustees are resI￿ns￿le for kwng xcountirvj re(￿ts v441ith diEd0￿r wth reasonable acajrw at any time the finarrial th)5￿.0￿ of the dHritabie company aThJ to them to that ts* financial st*￿￿nts compfy with the Companie5 Art 20C6. They are also res[￿￿sible for safeguardirwJ the assets cl the thaTTtaNe company and hen￿ fcy taknng reasonable steps ftf the prevethn and detectw of fraLKI and other Irr￿U￿1r1t STATEMENT AS TO DISaOSURE OF INFORMATION TO AUD￿oR$ We. the trustees of the tharttèble company who hdd Offi￿ at éate crf a[v￿al of these Fmancial Ststements, as set t atove, each confirm that as far as we aware, that: - there is Th) relevant a￿lIt informatK)n rf which thartable C(Mn￿n￿S auditors are not aware. aThl - we have taken all the steps that we fxjght to l)ave taken a5 trustees in order to make Ou￿1Ve$ aware of any relevant audit information 3￿j to estsL4i5h that the tharrtable ccffip3nls auditors a￿ aware of that informatKJn. AUDITORS The auditors. Deeks Evans A￿lItSerYTh Limhted. wdl be fLY re-0￿￿ntfflelItat the fL¥thcoming Annual C*neral Meeting. Repjrt of the trustees. directors. ￿ ........... KM)rating a Strateg￿ reprt appr￿j by ¢yder of trts3rd of trustees, as the company .aThdsi [￿d ￿ the ly)hrd's by: N Candler - Trustee ## **Report of the Independent Auditors to the Members of Project Art Works** ## **Opinion** We have audited the financial statements of Project Art Works (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. Page 9 ## **Report of the Independent Auditors to the Members of Project Art Works** ## **Responsibilities of trustees** As explained more fully in the Trustees' Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through verbal and written communications with those charged with governance and other management, and via inspection of the charitable company's regulatory and legal correspondence. We discussed with those charged with governance and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations to our team and remained alert to any indicators of non-compliance throughout the audit, we also specifically considered where and how fraud may occur within the company. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the charitable company is subject to laws and regulations that directly affect the financial statements, including: the charitable company's constitution, relevant financial reporting standards and company law, and we assess the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly the charitable company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines and penalties, or through losses arising from litigations. We identified the following areas as those most likely to have such an affect: child safeguarding, adults at risk safeguarding, employment legislation, health and safety legislation, operating licences regarding the charitable company's operating premises, data protection legislation and anti-bribery and corruption legislation. International Standards on Auditing (UK) limit the required procedures to identify non-compliance with these laws and regulations to the procedures, and no procedures over and above those already noted are required. These limited procedures did not identify any actual or suspected non-compliance which laws and regulations that could have a material impact on the financial statements. Page 10 Report of the Independent Auditors to the Members of Projert Art Works The extent to whth our pro￿ureS are capable of deteth'ng irregular￿e$, includino fraud is detailed bek)w: Aud￿ procedures carried out to L1etert irregularities including fraud were as follows.. A risk assessment in respect of the detection of irregularities indudin9 fraud addressed income, expenditure and management override in particular. A sample of grant appl*cations made were substantwely tested and vouched to award letters and funds received or to rejection corresponden￿. A sample of expEnses ￿Ere substantwely tested by being vouched to supwrts.ng pape￿ork. Where applicable the expenses We￿ checked to ensure that they were valid in terms of the grant conditions associated with the funding received. For large and unusual expenses the rationale of the transartions were evaluated. Journal entries made were reviewed and substantially were iran5fers be￿een projects and core costs. A sample of such joumals were tested to confirm the transfer5 were bjna fide. For large and unusual journals the ratlonale of the transath'ons were evaluated. An assessment of how fraud might occur. Income is substsntially re￿IVed by dirert payment into the bank account. Petty cash transactions are trivial. Authorisation for expenses is geared to the value of transactions. There is a hierarchy of who can sign for increasing amounts with duplicate authorisation required for high value transactions. Control accounts are maintained and reconciled monthly for debtors, cash at bank and in hand and creditors. Flxed assets registers are reviewed and checked. Observation and enquiry during the course of the audlt confirmed the assessment. An assessment of judgements and estlmates. No judgernents have teen incorporated in the accounts. The only estimates are for depreclation wh¢ch 15 mnside￿d low risk. Rl assessment of the team5 com￿en￿ and capability to identify or recognise non**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
Projects
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
47,421
144,775
51
192,247
17,073
107,506
124,579
67,668
101,928
169,596|Restricted
funds
£
759,905
-
-
759,905
-
797,421
797,421
(37,516)
795,806
758,290|2022
Total
funds
£
807,326
144,775
51
952,152
17,073
904,927
922,000
30,152
897,734
927,886|2021
Total
funds
£
1,109,741
50,298
2,067
1,162,106
1,896
707,051
708,947
453,159
444,575
897,734| |---|---|---|---|---| The notes form part of these financial statements Page 12 lance Sheet 31 March 2022 2022 2021 FIXED ASSETS Tangible assets 12 53.733 59,308 CURRENT ASSETS Debt¢JS Cash at bank in hand 13 44,521 14,4Ql 910,107 8&).595 CREDrroRS Amounts flling due vlthin 14 {35,9S41 (42,169) NET CURRENT ASSETS 927,886 897,734 NET ASSErs FUNDS Unrestricted fvThJ5 Restrthd fvnds 17 169.596 101,928 TOTAL FUNDS The flnancwl *at￿nts We￿ apwovèj ty 8oard of Tru5tee5 and authcwi%d for issue c >Jr*d (m ts iehair ty: N Candler- Trustee dey - Trustee The fK*es ftym part of these finanoal statements Pa9e 13 ## **Project Art Works** |**Cash Flow Statement**
**for the Year Ended 31 March 2022**
2022
Notes
£
**Cash flows from operating activities**
Cash generated from operations
20
13,717
Net cash provided by operating activities
13,717
**Cash flows from investing activities**
Purchase of tangible fixed assets
(14,376)
Sale of tangible fixed assets
-
Interest received
51
Net cash used in investing activities
(14,325)
**Change in cash and cash equivalents in**
**the reporting period**
(608)
**Cash and cash equivalents at the**
**beginning of the reporting period**
866,194
**Cash and cash equivalents at the end of**
**the reporting period**
865,586|2021
£
488,945
488,945
(11,619)
2,043
267
(9,309)
479,636
386,558
866,194| |---|---| The notes form part of these financial statements Page 14 **Project Art Works** ## **Notes to the Financial Statements for the Year Ended 31 March 2022** ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Incoming resources** All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when received. Non Government Grants, including grants for the purchase of fixed assets, are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. The charity has received government grants in respect of Covid resilience, Covid infection control and the Coronavirus Job Retention Scheme . Income from government is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Income from investments is included in the year in which it is receivable. ## **Resources expended** Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with running specific projects. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and includes the audit fee. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life. Short leasehold - over the lease term Fixtures and fittings - 50% on reducing balance ## **Debtors receivable and creditors payable within one year** Debtors and creditors receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **Taxation** The Charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Page 15 **Project Art Works** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Operating leases** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Going concern** The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. ## **2.** ## **DONATIONS AND LEGACIES** |Donations
Gift aid
Grants
HMRC employment allowance
Other income
Government grants
Government grants:
Covid Resilience
Covid Infection Control
Coronavirus Job Retention Scheme|£|2022
£
27,561
250
774,903
4,000
612
-
807,326
2022

-
-
-
-||2021
£
25,346
274
1,045,066
4,000
1,793
33,262
1,109,741
2021
£
14,976
12,200
6,086
33,262| |---|---|---|---|---| |||||| Page 16 **Project Art Works** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 March 2022** ## **2. DONATIONS AND LEGACIES - continued** Grants received, included in the above, are as follows: |Arts Council England
East Sussex County Council, Childrens Services
Sussex Community Foundation
Rayne Foundation
LLoyds TSB Foundation
The Three Guineas Trust
Paul Hamlyn Foundation
St James's Place Foundation
The Magdalen and Lasher Charity
BBC Children in Need
Artsworks Bridge
The Chalk Hill Trust
The 29 May 1961 Charitable Trust
The National Lottery
Esmee Fairbairn Foundation
The Childwick Trust
Culture Coventry Turner Prize
Hastings Action Zone
The Peter Harrison Foundation
Coventry City of Culture Trust
**3.**
**OTHER TRADING ACTIVITIES**
Fees Earned
Sale of works
**4.**
**INVESTMENT INCOME**
Rents received
Deposit account interest||2022
£
385,672
30,920
-
25,000
-
22,500
88,738
-
4,500
29,335
-
6,976
-
83,000
60,000
-
24,414
7,500
4,000
2,348
774,903
2022
£
102,445
42,330
144,775
2022
£
-
51
51|2021
£
505,299
8,000
3,620
25,000
33,000
162,475
153,500
5,000
4,000
30,024
1,600
-
4,000
44,548
60,000
5,000
-
-
-
-
1,045,066
2021
£
46,279
4,019
50,298
2021
£
1,800
267
2,067| |---|---|---|---| ||||| ||||| Page 17 **Project Art Works** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **5. RAISING FUNDS** ## **Other trading activities** |2022
£
Participants artwork
10,577
Materials
46
Postage, printing & stationery
4,231
Framing
830
Artists & design fees
1,303
Payment fees
86
17,073
**6.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 7)
£
£
Projects
787,393
117,534
**7.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Projects
111,894
5,640
Support costs, included in the above, are as follows:
2022
Projects
£
Wages
64,410
Social security
6,596
Pensions
3,702
Rent, utilities & insurance
13,095
Telephone & internet
1,802
Postage & Stationery
3,813
Travel & subsistence
301
Repairs
3,885
Bank charges
264
Depreciation of tangible and heritage assets
14,026
Auditors' remuneration
5,640
117,534|2021
£
-
116
74
-
1,702
4
1,896
Totals
£
904,927
Totals
£
117,534
2021
Total
activities
£
52,963
5,298
2,539
11,665
1,928
4,369
141
21,445
160
6,503
4,680
111,691| |---|---| Page 18 **Project Art Works** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **8. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): |Audit
Accountancy
Depreciation - owned assets|2022
£
2,820
2,820
19,951|2021
£
2,340
2,340
17,811| |---|---|---| ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **10. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Programme & Administration staff||2022
£
328,620
32,255
16,676
377,551
2022
11||2021
£
287,928
27,649
13,167| |---|---|---|---|---| |||||328,744| |||||2021
11| There were no employees whose totals benefits exceeded £60,000 (2021 - none). Key personal remuneration benefits for the year were £184,397 (2021 - £174,165). |**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
32,020
Other trading activities
5,339
Investment income
2,067
**Total**
39,426
**EXPENDITURE ON**
Raising funds
-
**Charitable activities**
Projects
106,722
**Total**
106,722
**NET INCOME/(EXPENDITURE)**
(67,296)|Restricted
funds
£
1,077,721
44,959
-
1,122,680
1,896
600,329
602,225
520,455|Total
funds
£
1,109,741
50,298
2,067
1,162,106
1,896
707,051
708,947
453,159| |---|---|---| Page 19 ## **Project Art Works** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 March 2022** |**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
funds
£
£
**Transfers between funds**
92,250
(92,250)
**Net movement in funds**
24,954
428,205
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
76,975
367,600
**TOTAL FUNDS CARRIED FORWARD**
101,929
795,805
**12.**
**TANGIBLE FIXED ASSETS**
Fixtures
Short
and
leasehold
fittings
£
£
**COST**
At 1 April 2021
97,443
41,155
Additions
-
14,376
At 31 March 2022
97,443
55,531
**DEPRECIATION**
At 1 April 2021
48,221
31,069
Charge for year
7,715
12,236
At 31 March 2022
55,936
43,305
**NET BOOK VALUE**
At 31 March 2022
41,507
12,226
At 31 March 2021
49,222
10,086
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Trade debtors
40,565
Prepayments and accrued income
3,956
44,521|Total
funds
£
-
453,159
444,575
897,734
Totals
£
138,598
14,376
152,974
79,290
19,951
99,241
53,733
59,308
2021
£
6,772
7,629
14,401| |---|---| Page 20 **Project Art Works** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income|2022
£
16,771
9,279
1,309
8,595
35,954|2021
£
20,532
7,350
3,607
10,680| |---|---|---| |||42,169| ## **15. LEASING AGREEMENTS** Minimum lease payments under non-cancellable operating leases fall due as follows: |Within one year
Between one and five years
In more than five years|2022
£
17,500
70,000
67,747
155,247|2021
£
17,500
70,000
85,247| |---|---|---| |||172,747| ## **16. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |Unrestricted
funds
£
Fixed assets
8,464
Current assets
169,726
Current liabilities
(8,594)
169,596
**MOVEMENT IN FUNDS**
At 1.4.21
£
**Unrestricted funds**
General Designated funds
42,283
Reserve
59,645
101,928
**Restricted funds**
Capital
5,747
Projects
379,223
National Lottery
-
Arts Council - projects
271,759
Big Lottery Fund Capital Grant
44,905
Paul Hamlyn - projects
94,172
Arts Council - core
-
Paul Hamlyn - core
-
795,806
**TOTAL FUNDS**
897,734|Restricted
funds
£
45,269
740,381
(27,360)
758,290
Net
movement
in funds
£
52,535
15,133
67,668
(5,926)
(6,881)
34,583
(54,263)
(5,557)
(36,185)
(13,287)
50,000
(37,516)
30,152|2022
Total
funds
£
53,733
910,107
(35,954)
927,886
Transfers
between
funds
£
(10,253)
10,253
-
6,100
44,047
-
(60,147)
-
(50,000)
60,000
-
-
-|2021
Total
funds
£
59,308
880,595
(42,169)
897,734
At
31.3.22
£
84,565
85,031
169,596
5,921
416,389
34,583
157,349
39,348
7,987
46,713
50,000
758,290
927,886| |---|---|---|---| ## **17. MOVEMENT IN FUNDS** Page 21 **Project Art Works** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **17. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General Designated funds
Reserve
**Restricted funds**
Capital
Projects
National Lottery
Arts Council - projects
Big Lottery Fund Capital Grant
Paul Hamlyn - projects
Arts Council - core
Paul Hamlyn - core
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General Designated funds
Reserve
**Restricted funds**
Capital
Projects
National Lottery
Arts Council - projects
Big Lottery Fund Capital Grant
Paul Hamlyn - projects
**TOTAL FUNDS**|At 1.4.20
£
36,332
40,643
76,975
6,833
140,850
66,281
63,173
50,463
40,000
367,600
444,575|Incoming
resources
£
177,114
15,133
192,247
-
256,232
83,000
370,673
-
-
-
50,000
759,905
952,152
Net
movement
in funds
£
(68,137)
840
(67,297)
(7,165)
161,470
3,470
304,067
(5,558)
64,172
520,456
453,159|Resources
Movement
expended
in funds
£
£
(124,579)
52,535
-
15,133
(124,579)
67,668
(5,926)
(5,926)
(263,113)
(6,881)
(48,417)
34,583
(424,936)
(54,263)
(5,557)
(5,557)
(36,185)
(36,185)
(13,287)
(13,287)
-
50,000
(797,421)
(37,516)
(922,000)
30,152
Transfers
between
At
funds
31.3.21
£
£
74,088
42,283
18,162
59,645
92,250
101,928
6,079
5,747
76,903
379,223
(69,751)
-
(95,481)
271,759
-
44,905
(10,000)
94,172
(92,250)
795,806
-
897,734| |---|---|---|---| Page 22 **Project Art Works** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **17. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General Designated funds
Reserve
**Restricted funds**
Capital
Projects
National Lottery
Arts Council - projects
Big Lottery Fund Capital Grant
Paul Hamlyn - projects
Arts Council - core
Paul Hamlyn - core
**TOTAL FUNDS**|Incoming
resources
£
38,586
840
39,426
-
419,334
44,547
352,869
-
83,500
152,430
70,000
1,122,680
1,162,106|Resources
expended
£
(106,723)
-
(106,723)
(7,165)
(257,864)
(41,077)
(48,802)
(5,558)
(19,328)
(152,430)
(70,000)
(602,224)
(708,947)|Movement
in funds
£
(68,137)
840
(67,297)
(7,165)
161,470
3,470
304,067
(5,558)
64,172
-
-
520,456
453,159| |---|---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General Designated funds
Reserve
**Restricted funds**
Capital
Projects
National Lottery
Arts Council - projects
Big Lottery Fund Capital Grant
Paul Hamlyn - projects
Arts Council - core
Paul Hamlyn - core
**TOTAL FUNDS**|At 1.4.20
£
36,332
40,643
76,975
6,833
140,850
66,281
63,173
50,463
40,000
-
-
367,600
444,575|Net
movement
in funds
£
(15,602)
15,973
371
(13,091)
154,589
38,053
249,804
(11,115)
27,987
(13,287)
50,000
482,940
483,311|Transfers
between
funds
£
63,835
28,415
92,250
12,179
120,950
(69,751)
(155,628)
-
(60,000)
60,000
-
(92,250)
-|At
31.3.22
£
84,565
85,031
169,596
5,921
416,389
34,583
157,349
39,348
7,987
46,713
50,000
758,290
927,886| |---|---|---|---|---| Page 23 **Project Art Works** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **17. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General Designated funds
Reserve
**Restricted funds**
Capital
Projects
National Lottery
Arts Council - projects
Big Lottery Fund Capital Grant
Paul Hamlyn - projects
Arts Council - core
Paul Hamlyn - core
1
**TOTAL FUNDS**
2
**Purpose of funds**|Incoming
resources
£
215,700
15,973
231,673
-
675,566
127,547
723,542
-
83,500
152,430
120,000
,882,585
(1
,114,258
(1|Resources
Movement
expended
in funds
£
£
(231,302)
(15,602)
-
15,973
(231,302)
371
(13,091)
(13,091)
(520,977)
154,589
(89,494)
38,053
(473,738)
249,804
(11,115)
(11,115)
(55,513)
27,987
(165,717)
(13,287)
(70,000)
50,000
,399,645)
482,940
,630,947)
483,311| |---|---|---| ## **Purposes of unrestricted funds** The General Designated fund represents the amounts received by the charity designated by the trustees to cover core costs and specific ongoing projects.. The Reserve fund represents funds held as a contingency in line with the reserves policy of the charity as detailed in the Report of the Trustees. During the year £10,253 (2021 - £18,162was added to the fund. ## **Purposes of restricted funds** These are projects where grant conditions have been imposed on them. The restricted capital fund represents the net book value of tangible fixed assets used in projects. Each year an amount is transferred to or from the fund representing the movement in the net book value of tangible fixed assets which were acquired from restricted projects. ## **Transfers** Transfers are made between core costs and individual projects to redistribute funding in line with conditions attaching to the grants originally received. ## **18. EMPLOYEE BENEFIT OBLIGATIONS** Defined benefit pension contributions of £16,429 (2021 - £13,259) are recognised in the Statement of Financial activities. These pension contributions are allocated to fund on the same basis as the gross salaries. Included in other creditors are nil (2021 - £2,094) in respect of pension contributions. Page 24 **Project Art Works** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **19. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2022. ## **20. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**Net income for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Increase in debtors
(Decrease)/increase in creditors
**Net cash provided by operations**|2022
£
30,152
19,952
(51)
(30,121)
(6,215)
13,717|2021
£
453,159
17,812
(267)
(946)
19,187
488,945| |---|---|---| ## **21.. ANALYSIS OF CHANGES IN NET FUNDS** ||At 1.4.21|Cash flow|At 31.3.22| |---|---|---|---| ||£|£|£| |**Net cash**|||| |Cash at bank and in hand|866,194|(608)|865,586| ||866,194|(608)|865,586| |**Total**|866,194|(608)|865,586| ## **22. ULTIMATE CONTROLLING PARTY** The charity is controlled by its trustees. ## **23. COMPANY LIMITED BY GUARANTEE** Project Art Works is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. Page 25 **Project Art Works** ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2022** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
HMRC employment allowance
Other income
Government grants
**Other trading activities**
Fees Earned
Sale of works
**Investment income**
Rents received
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Participants artwork
Materials
Postage, printing & stationery
Framing
Artists & design fees
Payment fees
**Charitable activities**
Wages
Social security
Pensions
Artist fees
Artist planning/induction
Staff training
Production
Project evaluation
Archivist
Professional fees
Materials
Photography & film
Installation
Fees, submissions & art fairs
Exhibition costs
Carried forward|2022
£
27,561
250
774,903
4,000
612
-
807,326
102,445
42,330
144,775
-
51
51
952,152
10,577
46
4,231
830
1,303
86
17,073
264,210
25,659
12,974
194,145
8,688
3,724
-
4,000
15,633
75,836
25,796
1,130
4,550
353
6,761
643,459|2021
£
25,346
274
1,045,066
4,000
1,793
33,262
1,109,741
46,279
4,019
50,298
1,800
267
2,067
1,162,106
-
116
74
-
1,702
4
1,896
234,965
22,351
10,628
156,590
4,723
4,909
23
5,500
6,416
6,077
17,974
1,176
780
182
-
472,294| |---|---|---| This page does not form part of the statutory financial statements Page 26 **Project Art Works** ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2022** |**Charitable activities**
Brought forward
Equipment and venue hire
Rent, utilities & insurance
Computer & website costs
Postage & stationery
Travel & subsistence
Events & conferences
Hospitality
Health & safety regulations
Repairs
Subscriptions
Venue hire
Miscellaneous
Technical support
Specialist support
Explorers partners
Fundraising
Claremont
Marketing
Short leasehold amortisation
Fixtures & fittings depreciation
Impairment losses for tangible fixed assets
**Support costs**
**Management**
Wages
Social security
Pensions
Rent, utilities & insurance
Telephone & internet
Postage & Stationery
Travel & subsistence
Repairs
Bank charges
Depreciation of tangible and heritage assets
**Governance costs**
Auditors' remuneration
Total resources expended
**Net income**|2022
£
643,459
3,376
26,682
8,359
186
43,882
-
3,345
11,597
3,855
733
-
-
13,610
5,220
5,000
12,000
38
125
5,558
5,926
-
792,951
64,410
6,596
3,702
13,095
1,802
3,813
301
3,885
264
8,468
106,336
5,640
922,000
30,152|2021
£
472,294
265
23,739
9,161
69
846
750
1,316
9,551
8,836
877
1,023
4,300
570
9,838
33,790
3,870
529
384
5,558
5,751
2,043
595,360
52,963
5,298
2,539
11,665
1,928
4,369
141
21,445
160
6,503
107,011
4,680
708,947
453,159| |---|---|---| This page does not form part of the statutory financial statements Page 27