Company registration number.. 05181856 Chariiy registration number.. 1106088 City Arts (Nottingham) Ltd (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2021 Community Accounting Plus Units 1 & 2 North West 41 Tdlbot Stieet Nottingham NGI 5tiL
City Arts (Nottingham) Ltd Contents Reference and Administrative Details Trnstees, Report 2to6 Independent Examiner's Report Statement of Finan¢ial Activities 8t09 Balanco Sh¢ct 10 Note5 to the Financial Statements 11 to 23
City Arts (Nottingham) Ltd Reference and Administrative Details Trustees Michacla Butter Martin Ortell Michele Taylor Miriam Gifford James Pdrkinson Frances Franks Boseda Olawoye Angu5 West Joel Stickley Suzannah Bcdford, Dir¢ctor Joel Stickley. Deputy Director Secretary Senior Managernent Tegm Principal Office 11-13 HkleY Nottingham NGI IFH Compsny Registrgtion Number 05181856 Charity Registration Number 1106088 Independent Exgminer John O'Brien, employee of Community Accounting Plus Units l & 2 North Wcst 41 Talbot Strccl Nottingham NGI 5GL Page I
City Arts (Nottingham) Ltd Trustees, Report Thc trustces, who arc dircctors for thc purposcs of company law, prcscnt thc annual report together with the financial statcmcnts of thc charitable company for thc year cndcd 31 March 2021. Tru5tee5 Michaela Butter {appointed I l May 2021} Martin Orrell Michele Taylor Miriam Gifford James Parkinson lappointed 15 September 2021) Frances Franks (appointed 15 Septetnber 20211 Boseda Olawoye lappoinied 15 Sepiembei 2021) Norman Randall, Chair Irc%igned I l May 2021) Saira Lloyd, Vice Chair Iresiuied I l May 20211 Structure* governance and mAnAgement Nature ofgoverninR documenl The Lharity is a company limited by guarantee and resyistered chdtity. It is operdted undei the rules of its memorandutn and rtIcleS of d550Cidtion dted 16 July 2004. li has no share cdpital and the lidbility of each member in the event of winding-up is limited io £1. Recrui¢menl appoinlmenl ofirustees New trustees are recruiied by inviting potential candidates to tour our Hockley base, meei chair and staff and obserye a Board meeting before standing for election ihrough the due process at the AGM. ObJeetlves and aetlvltles Objects and la) Th¢ advanccm¢nt of ¢du¢ation at]d training in th¢ arts and cultural industri¢s with th¢ obj¢ct of incrcasing community participation and dcvclopmcnt., Ibl The provi%ion of facilitics for re¢r¢ation or other Icisurc timc occupation in the intcrest% of social wclfare with th¢ objcct of improving thc Conditions of life for th¢ inhabitants of Nottingham City, Noitinghamshirc and the East Midlands in particular (the 'area of benefit")., Icl The relief of poverty and promotion of social inclusion and integration among the inhabitants of the area of benefit. City Arts undertakes a variety of workbhops, courses, events and projects that aim to.. lil Develop partiLipation and engagement in the arts,. lill TaLkle social issues. exclusion and community regeneration through the arts,. lili} Raise publiL awareness of and support for the arts; liv} Mentor and support local artists working in the participatory arts. The work of City Arts benefiis greatly from the partnership that the charity develops with other arts and non-arts organisaiions. This enables City Arts to achieve a great deal more from limited resources for the benefii of local people. Page 2
City Arts (Nottingham) Ltd Trustees, Report As thc ncw Chair much of what is covercd in this rcport happcncd bcfore I started so I would likc to pay tribute to thc two pcoplc who actcd as Chairs during this pcriod - Saira Lloyd and Norn]an Randall and thcir fellow board Jncmbcrs who had to navigatc such unprcccdcntcd tilnes. Thcir support and cncouragcmcnt cnabled thc taff to delivcr such a high quality and imaginativc programme right through the very worst moments of the pandcmic. Wc owc thcm and thc %taff a hugc dcbt of gratitudc. City Arts is a small charitable organi7.a¢ion that works to break dow) barriers to access for individuals and eommunili¢s who othenvisc might not cxpcricnc¢ crcativc and cultural opportuniti¢%. Our longstanding track record of working with marginali%cd group% has d¢velopcd cxpcrti%c in a range of areas, including community cngagcmcnt through our outdoor art8 programmc, art% ond health loldcr p¢opl¢, adults with complex h¢alth n¢¢ds, young p¢opl¢ cxpcri¢n¢ing loneliness and mental illncssl, and Jrti8t dcvelopmcnt. W¢ spccialise in working with artists who ore self-iaughi, or whose work is of a quality but has no obvious home in the city's wider cultural ¢cology. Our building, 11-13 Hockley, supports workshops with vulnerable groups, artist residencies, and provides a home for self-led givups such as DIY Poeis. It otTers us storage faciliiies lor our large-sLale ouidoor puppeis. office space. a workshop area, a garden space {unique in rhe city) and a large window ihai we have made into a gallery space viewed from the sireei. The year covered by these annual accounts spans from the beginning of the Covid-19 pandernic I(KkdoW and the subsequent re5tTiCtio11s. We rndde use of the Govetnment's furlough 5Lheme at the be¥innin¥ of the lockdo1 period, to enable us to re-focus our WOTk where we found uur&elves Unble to delivei. Unlike Illy uthei Lulturdl organisatiuns, we Maint]ned a level of delivery thivusThout the pandemic. keepin¥ our connection with those most affected, honouring our comrnitment5 to funders. and prioTitizin¥ payment of artists whose livelihoods have been Severely affected durin¥ these tirne5. City Arts dCmontratcd hugc rcsilience, attracting cmergency and recovcry ndIng from a rangc of sources including thc National Lottery Coronavirus Community Support Fund. indcpcndcnt trnsts and foundations includii)b Paul Hainlyn Foui)dation and The RausinbF Trust. alongside Arts Council Recovery Fund5. We are so grateful to these funders for dernonstratinb their belief in the value of our work. Th¢%c funds ¢nablcd us to rctain our valuablc %taff t¢am, whos¢ cxp¢nisc can be %c¢n throughout our programme during thi% tim¢. This in turn enabl¢d fundraising io support additional work. Our rcs¢rv¢s wcrc approv¢d by our Finance Sub-Group, as th¢y w¢re ovcr our mandatcd amount, giv¢n the context of so many uncertainties. Local funds included Small Steps Big c.hanges {SSBCI, enabling Ciiy Arts to lake a leadership approach in reaching hyperloLal Lommunities wilh doorsiep puppeiry perfomances ofTeddy Island. A family show for very young children, Ihe theme resonated with audiences as a way of processing feelings surrounding the pandemic. An emergency grant from Paul Hamlyn enabled u5 to explore a mobile phone app for our A]Tnchair Gallery, offerinb bFallery and Inu5eum tours and creative activities aimed at older people in residential care. A partnership with The Ashtnoledn Museutn in Oxford. the app fuLused (In of their LolleLtivn inLluding Eubtern artefacts. Page 3
City Arts (Nottingham) Ltd Trustees, Report Alrcady committcd projccts includcd Cclcbrating Agc, an Arts Council ndcd stratcgic project with cxisting partncrShIp. City Arts workcd closcly with contractcd artists Isobcl Joncs (sound artist). Tom Dalc Ichorcographcr} to fjnd ways of working around rcstrictions, mccting in pcrson whcrc possiblc Icg ocially-di%tanccd sound Walk outdoors for a group of 6 participant%l, until rc%trictions madc thi% ijnpos%ible. Thc arti%ts showcd significant crcativity and tcnacity in divcrting thi% projcct onlinc. chorcographing a group of older dancers online. and workinbF Wlth tlie sound footabFe bTatlicred throubFh sound walks and recordiiibFs. Filtn-maker Sima Gonsai wa5 engagyed. and worked hard to produce a filTn usinbF online foota¥Je. A partnership fomied with National Trust propcrty Southwcll Workhouse, lendinbF a clear thcine to the project around incarccration., the rcsulting film. The Workhouse, is a testament to the participants and artists durinbF an unprcccdcnted pcriod of tiine. Our young pcoplc's programm¢ dcv¢lop¢d in a range of ways, following increased investm¢ni in artists working with our groups. An online animation with artist Trevor Woolcry cnablcd young people aged %-13 cxpcriencing lonclincss to mcct online and collaborate on a projcct that thcy chosc thcmsclvcs, through our Art Club. Exprcss Yoursclf, our prograjnmc in Gcdling partially ndcd through Nottinghamshirc County Council's Local Improvcmcnt Schcmc. attractcd fiinding froin Activc Notts. With thc aim of inspiring young pcoplc agcd 13-17 to bccomc phy%ically activc, our young pcoplc co-crcatcd a photography and walking projcct witli artist Jo Whcclcr. Takc-up cxcccdcd cxpcctation%. Offering printcd packs prior to onlinc workshops havc cnablcd us to tcst ncw Way of working and rcaching young people, which wc will continuc to cxplorc bcyond thc pandcmic. Delays to some of our work were ineviiable. and City Ans maintained good relaiionships with partners and funders throughoui whilst we worked hard to find ways of delivering. The lockdown in January 2021 proved the mosi chall¢nging, meaning that Jingah Projcct and Nottingham Puppct Fcslival, both schcdulcd originally for May 2020, had to bc postponed until the next flnancial ycar. There were mdny other projects that look place in beiween, including the beginning of Create to ConnecL lunded via the DCMS Loneliness Fund. Whilsi this project gan during this financial ye, most of the delivery took place durin¥ the following year. Our approach to collaboratin¥y with COTninunities was exeinplified by our partnership with NottingFham City Hospital's Cystic Fibrosis Ward. Patient5 who cannot have contact with other people worked with OUT Director of WellbeinbF to cornmis5ion mural artj5ts to bribFhten their ward. As is evident, our rangc of partn¢r%hips include local organisations alongside national flagship partnerships, ensuring a balance of reoch, local relevanc¢ and national significance. We ulilised the lockdowi period to undertake neLebsary minor works and refurbishments on the building, including replacing a broken boiler, and a refurbishment of our Window Gallery. We offered our online platfoTms to individual artist5 and self-led groups to show their ow] work. includin sCrables gyroup of 5elf-led photographer5 experiencinbT mental illne5S and Jainal Sterret, a local self-taubFht dancer and photo¥rapher. Grace Eden WTOte a blogj about caring for her father with Parkinson's Disease durin¥ IoLkdowTr, usin¥ hei unique self-tuu¥ht phvtowdphy to illustiute. We alsu offered d 5eiies of Art15t Loffee mornin¥s, enabling drtists who woik with people to bhare expeTienLe5 and leurnin¥, includin¥ risk assessin¥ public-flin projects during the pandetniL. This woik enhdnLed our reach online. It hus also byiven u5 inspiration foi oui blo¥ seTie5 which has in 5trengFth dnd relevance, hostin¥ a wide range of voices over the year. We have demonstrated a strategic approach to working with digital opportunities including diverting our work online, creating digital artworks, and instslling an online accounting system during the year. Page 4
City Arts (Nottingham) Ltd Trustees, Report Our funding agrccmcnt with Arts Council England includcs £IOk ring-fenced ndS for 'flagship artistic residcncy. during thc ycar. In rcsponsc to thc Black Lives Mattcr Upr)lng, wc utiliscd thcsc ndS to host a crics of consultativc convcrsations with local Black artists and crcative pcoplc of colour. Lcd by Boscda Olawoyc. thcsc gavc a numbcr of insight% and actions into how wc can bccomc more inclusivc and represcntativc as an organisation. Thc rcmaindcr of thc fvnds %upportcd Cataly%t, a %cries of podca%ts callcd Community Conversations and an art15t residency with artist Honey Williams. This work was well received acT055 the local arts sector and by communities. D¢spii¢ all of th¢ challenges outlin¢d abovc, we reachcd 1,1 00 pcopl¢ through %ocially distanced face to fac¢ cs%ion%, and J further 1,500 participated onlinc. Though th¢8e figures arc drastically r¢duccd from previous ycars, Ih¢y rcquir¢d an even greater l¢vcl of organisational work to realisc, givcn thc scale of risk a%s¢%sm¢nt and organisaiion involved. ¢nabling us to r¢ach local peopl¢ in pcrson, whcrevcr possible within Govi guidelines, and continue brcaking down barri¢rs for individuals and groups to access their own crcaiivity and culture of the highest standard. l am proud to have iaken up ihe role of Chair during this yedr allowing me to support such a talented and resourceful team. The year has thrown up many challenges but we have demonstrated our resilience and dynamism in maintaining our commi¢rnent to ihe communities we serve. Puhlic benefil Through it% work in thc visual arts, thc perforniing arts and the Thryitt¢n word, City Arts promotes inclusivity and acce5S to bFreat art as a basic human ribFht. The trustees Confi[ th(It they hdve LOTnplied with the requirements 01. section 17 of the Ch<irilies ALI 2011 to hdve ijue regard to the public benefit guidance pub115hed by the Chdllty CoiTJmission for Engliind Wales. FianCIal review Faced with the pandemic. we chose to continue delivering work throughout. We made minimal use ol. the govemment luilough sLheme, and attracted emergency lunding Irom a range ol'funders both public and private. The support we received was a vote ol. confidence in the importance of the woik we do, particularly during a global pandemic. and has allowed us to bolster our reserves in order to face an uncertain funding environment going forward. Poliey on re.ferve.f Thc Manag¢mcnt Commiti¢e Continucs to cxaminc th¢ chariiy'% r¢quir¢mcnts for rc%¢rv¢s in th¢ light of th¢ main ri%k% to ihc organisation on at l¢ast an annual basis. Th¢ policy slai¢% that unrestrict¢d fund% not cojnmiltcd or invested in tai)gible fixed assets held by the charity (working capital}, should be at least three months Cent operating cost5, although this is dependent on the perforniance of the organisation. As of the end of 2020121, the level of our unrestricted reserve5 met the target amount. Page 5
City Arts {Nottin%ham) Ltd Trustees, Ri'port S¢•iemeDt of TrStees, Responsibilities The Iru%lCLS (who arL also ihe dirciior% ol- C'ity Ans INoiiinghdml Lid for ihe purwsLs of company lawl arc rc%ponsible fur preparing thL IfusiLL%' rcpiin anij the fIn1n(la1 %lJl¢iiienis in dLLordanee wilh IhL Uniicd Kinudvm ALcoun(ing Sthndards IUnilLd Kingdvm CJLiiLrJlly ALLLPILd ALcouniing PrdCliLel and applicablL law and rcgulations. Company law requires the inistces to preparL finaiilial staicmcnts for Lach financial year. Under L()Inpany law the trnsi¢es musi noi approve ihL linancial %iaiemLnis unlL5.% ihL>' arl saii%lied thai they give a inie and lair ViLW of the sle vf allairs ol- Ihe LharlI7hIC Lompanv and ol. 11% incoming rc4Liurcc% and appliLalivn of re40urcLs, including ils income and ¢xpelldiiuie. for ihai pLriod. In preparing Ihese financial siaiemenis. Ihc iwsiccs aT¢ rcqiiired to.. belcLI suiiable accounting FK)li¢ii% anJ dpply thLI?I consis1L(]y'. observe the meihod4 dnd PTiiILiplc% 11) IhL C"hJrilii% Sl)RP: make judgements and csiin)alLs ihJl.Ire rL'asonablc and prud¢nl', siaie wheiher applicable UK ALiouniing Siiindard% l)avL been lollowlxi. subjcLi io any Inailrial dcpdfflure disc105ed and explained in the tinanLidl stalemeni%: dnd prep&ire ihe fJnanci%LI sl<emLni% on Ilii b)oiii¥i conceTn bltsib unless it Is IridppropridlL 10 presujiie thar the ¢hdrirable comppny will c()niinue in bu%in¢%s. The itee$ are r¢srATrn%ible foi kLLping fjdLquaie accounting records Ihat arc %uificicJ)I 10 %hiiw and L'xplain thc chariiabl¥ company's IranwLiion% and disclo%L '1th rea%onobl¢ accuracy al dny tin)L IhL fil)2£ IILI2L I p()siiii)n ol'thL Lhariiablc COTnp8ny and eNblL Ihcm li) LmsurL' thai thc financial 5laicincni% L()Iiiply with Ihl Cuiiip4iriiis A¢1 2(K>h. They are also res[nSibIL for salLguarding IhL asseis i)f Ihc LhaDtdblL coinpany cind hLnL¢ fi)[ iaking reasonable stepg for th¢ prcvcnlEon aiid dcieciion i)f fraud artd oiher irrc¥lllaritie%. eompanles provision staiemcni This rew)n has bL¢n prLparLd in aic(>rilxn¢L w'ith ihL small CaTllpdnie% regime undcr ihc Lcimpanies Aci 2006. The annu(Il retM)fl approvcil by IhL Iru%lL¥% ofihc cliLirity on alid 5ibyncd ils bL'half by.. Michaela Buiier Trnsiee Pag¥L h
City Arts (Nottingham) Ltd Independent Examiner's Report to the trustees of City Arts (Nottingham) Ltd Independent examiner's report to the trustees of City Arts {Nottinghaml Ltd {'the Company,) I report to thc charity trustces on my cxajniiiation of thc accounts of thc company for thc ycar cndcd 31 March 2021. Responsibilities and basis of report As the charity's trustees ul. the Lumpany (and also its directors for the purposes of company lawl you are respunsible fur the prepdration of the accounts in dLcordanLe with the iequirements of the Cumpdnies Act 2006 I'the 2(106 Att.). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independeni examination, I rewrt in respeei of my examination of your charity's accounts as carried out under section 145 of the Charities Aci 2011 I'the 2011 Act'l. In carrying oui my examination I have followed the directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's statement Sincc thc Coinpany's gro%s incoine cxcccdcd £250,000 your cxamincr must be a mcmber of a body listcd in cction 145 of the 2011 Act. I confjnn that l ain qualificd to undertakc thc cxamination becausc l am a member and Fcllow of thc A%8ociation of Charity Indcpcndcnt Examiners, which ]% onc of thc listcd bodies. I havc complctcd my cxainination. I confirm that no mattcr% havc comc to my attcntion in conncction with thc exatnination &JivinbF me cause to believe that in any Tnaterial respect.. aLCOUntin¥ records were not kept in rebpeLt of the Company (15 required by section 386 ol'the 2006 Att., or 2. the accounts do not accord with ihosc r¢cords; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requiremcnt that the accounts give a 'true and fair, view which is not a rnatter considered as part of an indcpct]dcni examination; or 4. the accounts have not been prepared in accordance with ihe methods and principles of the Statement of Recommended Practice for acLouniing and reporiing by chariiies lappliLable to chariiies preparing iheir acLounis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 10211. I have no concerns and have ¢ome across IIQ other matters in connection with the examinatign to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. n BrItn MSC. FCCA, FCIE. employee of Comrnunity Accountin¥ Plus Fellow of ihe Association of Chariiy Independeni Examiners Units l & 2 North West 41 Talbot Street Notling7ham NGI 5GL Date-. 2011212021 Page 7
City Arts (Nottingham) Ltd Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) {A5 restated) Tntal 202 Unrestricted fund5 Restricted funds Total 2021 Note IThcome and EndowmeNt5 from: Donaiions and legacies Ch(Ilitable <lCtivities Other IradinbF activities Investment income 298,IR4 298,IR4 129,21 129,224 211,469 3,414 11,500 38 38 Total Incorne 315,933 111,500 427,433 344,107 Expendlture on: Rai%ing fund Chariiable acttvittes (2,033) 1245,-1431 (2,0331 1341,3421 {5.0131 1286,2891 195,9991 Toial Expenditure 1247.3761 195,9991 1343.3751 1291,3021 Net income Transfers between funds 68.557 1.000 15,501 ( 1,0001 84,058 52,805 Ne¢ movement in funds 69,557 14,501 84,058 52,805 Reconciliation of fund5 Totdl tunds brought futward 20.865 35,013 55,878 3,073 Toial funds carried fonvard 21 90,422 49,514 139,936 55,878 All of the charity's activities derive from continuing operation5 during the above two period5. The fund5 breakdowM for the peTiod is Show in note 21. Page 8
City Arts (Nottingham) Ltd Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous &c¢ounting period gnd are included for Comparative purposes (As restated) Total 2020 Unrestricted funds Restrieted funds Note Ineomt and Endowments from: Donations and Icgacics Chariiabl¢ activities Oiher trading activities 129,224 98,836 3,414 129,224 211,469 3,414 112,633 Toial income 231,474 112,633 344,107 Expenditure on: Raising fund5 Charitable activities {5,0131 (208.6691 (5,0131 (286.2891 177,6201 Total expenditure 1213,6821 177.6201 1291,3021 Net income 17,792 35,013 52,805 Net movement in funds 17,792 35,013 52,805 R¢con¢iliation of funds Total funds brought forward 3,073 3,073 Total funds carried forward 20,865 35,013 55,878 Page 9
Clty Arts (Nottlngham) Ltd (Registratlon number.. 05181856) Balance Sheet as At 31 March 2021 (A$ restated) 2020 2021 Note Fixed 8s5¢ts Tangible assets 14 3.974 1,985 Current 15sets Dcbiors Cash at bank and in hand 15 16 9,720 150,475 59,033 160,195 59,033 Credltors: Amounts f#llSng due wlthln one yeAr Net current Assets 17 24.233 5,136 135.962 53,897 Net asset5 139,936 55,878 Funds of the £h&rlty: Restricted Income funds Restricted fvnds 21 49,514 35,013 Unrestricted income funds Unrestricied fund5 90.422 20.865 Ttst81 funds 21 139.936 55.878 For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities.. The members hav¢ not required the charity to obtain an audit of ils a¢¢ounts for the year in question in a¢¢ordance with section 476. and Th¢ dircctors acknowledge their responsibilities for complying with the requirements of the Act with r¢speci to accounting records and th¢ preparatioll of accounts. These accounts have been pr¢pAred in accordance with the provisions applicable to ¢ompanies subject to the Stnall companies r¢gime. The financial ststements on pages 8 to 23 wer¢ approved by the ttustees, and authorised for issue on 14 12- 2 land signed on their behalf by.. Martin Otr¢ll Trust¢¢ Page 10
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 l Aeeounting polieie5 Summary of signifieant Accounting policies and key accounting estimates The principal accounting poliLies applied in the preparaiion of ihese financial statements dre set out below. These policies have been consistenily applied to all the years presenied. unless otherwise stated. Statement of compliance The financial statemenis have been prepared in accordance with Accounting and Reporting by Charities.. Siatement of Recommended Praciice applicable io charilies preparing their accounts in acLordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (elTeclive l January 20151- (Chariiies SORP IFRS 10211, the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 1021. They also comply with the Companies Act 2006 and Charities Aci 2011. Basis of preparation City Arts (Noltinghaml Ltd meets the definition of a public benefjl eniity under FRS 102. Asseis and liabilities are initially recognised ai historical cost or iransaciion value unless othenvise stated in the relevant accounting policy notes. Going concern The Iinancial staiements have been prepared on a going concern basis. Thc trustces whcthcr th¢ usc af going conc¢rn is apprnpriatc i.¢. whcthcr thcrc arc any matcrial unccrtaintics rclai¢d ti) cv¢nts or conditions that may cast %ignificant doubt on th¢ ability of the charity to continue as a going conc¢m. The trnstees make this a5sessmcnt in respect of a period of one year from the date of approval of the financial statements. Exemption from prtparln% a eash flow statement Thc charity optcd to adopt Biillctin I publishcd on 2 February 2016 and have thcrcforc not includcd a cash flow tatcmcnt in thcC financial tatCmCnts. Income and endowments Voluntary incomc including donations. gifts, Icgacie% and grdnts that providc corc ndIng or are of a gcncral natur¢ is rccogniscd whcn thc charity has cntitlcmcnt to thc incom¢, it is probabl¢ that the income will b¢ reccivcd and the amount can be mcasurcd with %ufficicnt rcliability. Don<ltions are reLo¥ni5ed when the charity has been notified in Titing ot both the amount and settlement date. In the event that a don<ltiun is subject to Lunditions th(It requiTe a level ol'peilomianLe by the ch(Irily before the chdiity is entitled to the fund5, the inLome is delerted dnd not reLognised until eiihei those Londilions are lully met, or the fulfilment of ihose eonditions is wholly within the control ol. the chariiy and it is probable thai these conditions will be fulfilled in the reporting period. receiw4ble Grants are recognised when the charity has an entitlement to the fi]nds and any conditions linked to the grants have bccn mct. Whcrc pcrformancc conditions arc attachcd to the grant and are yct io be met, the income is recogni%cd as a liability and includcd on thc balancc shcct a% defcrrcd incomc to bc rcleased. Pagell
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 Inwe.flment income Dividends are recognised once the dividend has been declared and notifjcation has been received ofthe dividend due. Expenditure All expenditure is recobFnised once there is a legal or con5tTUCtive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All cost5 are allocated to the applicable expenditure heading that agbFregate similar cost5 to that category. Where cost5 cannot be directly attributed to particular heading5 they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other 5UPPOrt costs are allocated based on the spread of Staff cost5. RaiiingfundJ These are costs incurred in aiiracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Ch&ritable activiti&T Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It include5 both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests set out in Paragyraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK COTporation tax PUTP05es. AccordingFly, the charity is potentially exempt froin taxation in respect of income or capital ¥Jain5 received within catebiories covered by Chaptcr 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargycable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed asse15 Costing £500.(X) or more are initially recorded at cost, less any 5ub5equent accutnulated depreciation and subsequent accurnulated impdiTment losses. Depreciation and Amortisation DepieLiation is provided on tdiigible fixed assets so as to MTite off the cost or valuation, less any estirnated residual value, over their expected useful economic life as follows.. Page 12
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 A55et cla55 Computer equipment General equipment Leasehold impTovements Depreciation method and rate 33.3°/o on a straight line basis 33.3°/D on a strai¥hi line basis 25°/0 on a 5traibFht line basi5 Trade debtors Tradc dcbtors arc amounts duc from customcrs for mcrchandisc sold or serviccs pcrformcd in thc ordinary course of business. Trade debtors are recogni5ed initially at the transaction price. They are subsequently measured at amortised cost using the effective interest rnethod, les5 provision foT impainnent. A provision for the itnpairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the oriLTinal tenns of the receivables. Cash and ¢A5h ¢quiv&lent5 Cdsh and Lash equiN'alenls comprise cash on hand and call deposits, and other short-temi hi¥hly liquid investinents that ale Teadily convertible to a known amount of cash and ait subject to an insibwriilicant iisk of chan¥e in value. Fund structure Uniestiicted income fund5 are bFeneral funds that ale available for use at the trustee5' discretion in furtherance of the objectives of the Lharity. Restricted income funds are those grants for use in a panieular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations Th¢ charity oporalcs a dcfincd contribution p¢nsion sch¢m¢ for cmplny¢cs. The a%fct% of the sch¢mc arc h¢ld cparaicly from Iho%c of the Charity. Pcn%ion ¢osl% charges in the Statcm¢ni of Financial Activiti¢% rcprcs¢ni th¢ contributions payable by the charity during th¢ ycar. Page 13
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 2 Ineome from donations and legaeies Unrestricted funds Total 2021 Total 202 Genergl Donations and legacies: Donations from individuals Grants, includii)g capital grants: Govcmmcnt grants Grants froin othcr charitics 1,154 1,154 1,897 220.781 76,249 220,781 76.249 127,327 298.184 298.184 129,224 3 Ineome from eharitable activities Unre5tri£ted funds Restricted fund5 Total 2021 Total 2021 General Granis & donations Fees & commissions ProbTrainmes & activities Facilities & resources 111,500 11,500 12,645 457 3,499 1,110 112,633 40,8R5 42,429 7,938 2.174 5,410 12,645 457 3.499 Other income Bar takings 11.500 129.211 211,469 Page 14
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 4 Grants & donations Unrestricted fund5 Restricted funds Total Arts Council BTit15h Council 160,640 9,720 170,360 Erasmus 51.792 4,500 51.792 4.500 32,458 20,000 54,523 43,791 6,000 7.618 4.370 1,154 Nottinghamshire County Council National Loitery Covid Support The Paul Hamlyn Foundation Nottingham City Council Rausin¥ Ttust Small Step5 BibF Changes HMRC IJRSI Artive Partners Trust Sundry donaiions 32,458 20,000 2,000 52,523 43,791 6,000 7.618 4,370 1,154 298.184 11.500 409.684 5 Income from other trAding activities Total 2021 Tot41 2020 Fundraising 3.414 3,414 6 Invostment Income Unre5trieted fund5 Total 2021 Total 2021 General Inicrest rcceivablc and similar in¢ome; Interest receivable on bank deposirs 38 38 Page 15
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 7 Expenditure on raising funds g) Costs of genergting donations and legacies UThrestricted fuThd5 Total 2021 Total 2021 General Note Marketing and publicity 2,033 2,033 5,013 8 Expenditure on charitable activities Unrestricted General funds Restricted funds Total 2021 Total 2020 Project costs Project salary costs BdT Stock Staff travel & subslstence Staff training Prcmiscs costs Office costs Consultancy & professional fees Insurance Depieciation Other wagcs Nl & pensions Bank charg¢s Accounting & payroll SialT recruitmenl RefieshmentS Consultancy Sundry payments IT & Cornmunications 24.379 66,136 8,560 90,515 8,560 73,644 84,349 239 1,969 858 27,744 4,446 23,305 1,365 2,104 66,266 283 283 332 29,164 ,931 1.924 3,394 2.978 168.411 276 1.302 239 332 29,164 1,931 1.924 3,394 2,978 189.714 276 1,302 239 100 4.450 822 5,358 21.303 4.450 822 5.358 245.343 95.999 341.342 286,289 Page 16
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 9 Net IncominOutoIn resouree5 Net incoming resources for the year include.. 2021 2021 Depreciation of fixed assets 2,978 2,104 10 Trustees remuneration and expenses No tllLStces, nor any pcr8ons connc¢ied with th¢m, hav¢ recciv¢d any rcmun¢ration from th¢ ¢harity during the ycar. No tTU5tee5 have received any reimbursed expense5 or any other benefits from the charity duTing the year. 11 Fees pAyable to independent exAminer During the period. the lees payable (excluding VATI to the charity's independent examiner Community Accounting Plus are analysed as follows.. 2021 2020 Independent exdminaiion Other finatjcial service 950 758 900 846 1,708 1,746 Page 17
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 12 Staff costs The aggregate payroll costs were os follows.. (A5 restated) 20211 2021 Staff costs during the year were: Wages and s)laries Social security costs Pension cosis 184,340 10,392 3,542 133,940 13,723 2,952 19R,274 150,615 The mlinihly average number of persons (including senior management team) employed by the Charity during the year was as follows.. 2021 2020 Iyo Average number of employees 712020 - 61 of the above employees participated in the Defined Contribution Pension Schemes. Contributions to the employee nsIOn schemes for the year totalled £3,542 {2020- £2,952). No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key rnanagement pet50nnel of the charity were £64,961 (2020- £53,612). Page 18
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 13 Taxation The charity is a registered chariry and is therefore exempt from tsxation. 14 Tanglble flxed assets Computer equipment General equipment Lea5ehDld imprni'ements Total Cost At l April 2020 Additions 9,400 4.971 108,026 5.284 122,710 4,971 At 31 March 2021 14.371 108.026 5.284 127,681 Depreciation At l April 2020 Charge for the year 9.400 1.657 108.026 3.303 1.321 120,729 2,978 At 31 March 2021 11,057 108,026 4.624 123,707 Net book vglue At 31 March 2021 3,314 66 3,974 At 31 March 2020 1,981 1,9RI 15 Debtors 2021 2021 Oiher debtors 9,720 16 Cash and eash equivalents 2021 2020 Cash at bank 150.475 59.033 Page 19
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 17 Creditors: amounts fallin2 due within one yeAr (As restated) 2020 2021 Other taxation and social security Other creditOTS 8,818 15,415 3,510 1,626 24,233 5,136 18 Obligations under leases and hire purchase contracts Operatlng lease commltments Toial future minimum lease paymenrs under non-cancellable operating leases are as follows.. 2021 202 Land and buildings Within one year Between one and flve years After five year5 14,000 54,833 14,000 56,000 14.000 6S,S33 84,000 19 Charity status The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustecs is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 20 Related party transactions There were no related party trsaCtiOnS in the year. Page 20
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 21 Fund5 Balance at .31 March 2021 Balance at I April 2020 Incoming resources Resources expended Transfers Unrestrleted funds Genernl General fund 20,865 315,933 (247,3761 1,000 90,422 Restricted fund5 Artnchdir Gdllery ArtPloyment {2018-2020) ArtPloymcnt12021-20231 Celcbraiing Age Express Yourself Foyle Foundation Poetry on the Go The Search for Teddy Bear Island 20,000 (19,000} (1.000) 37.182 9,720 10,870 37.182 23,763 5,387 5.863 (33,483) (16,257} 5,863 6,469 14,610 18,141} 6.000 16,000} Total restricted fuDds 35,013 11.500 195.999} I I,(x)o) 49.514 Total funds 55,878 427,433 (343,3751 139,936 Page21
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 The specific purposes for which the funds are to be applied ale as follows.. ARTpluytneiit 12018 - 20201.. Funding fiom Eiasmus+ to delivei a ciedlive skills Ldieer develupment pro¥rdmme for young people from different Lountiies. in collaboration with intetnativnal partne15 fioIn LILTOSS Eurupe. ARTployment 12021 202JI: Funding from Erasmus+ to deliver a creative skills and career development programme for young people from different countries, in collaboraiion with international panners, including both European and Souih American organisations. Armchair Gallery.. Funding from the Paul Hamlyn Foundation io support the development of a smanphone app allowing older people living in care seiiings, and particularly those experiencing dementia. to aLLess the colleciions of museums and galleries through vinual tours and interaeiive experiences. Celebrating Age- programme of ans activities with older people. Express Yourself (Nottinghamshire LISI contribution towards revenue costs of a programme of creative opponuniiies for young people that will focus on emoiional well-being. aitainment, skills developmeni and increasing young people's contribution to civic society. Foyle Foundation io suppon the Sneinton Stirred Up festival and work as part of Nottingham Puppei Festival. Poetry on the Go IPo601'. Funding from Erasmus+ ¢0 collaboratively develop a smartphone app exploring and ecl¢hrating po¢try fri)m differ¢ni Cultures, working with int¢rnatii)nal partncr organi%ations and yi)ung p¢oplc in th¢ir rc%pwiive hom¢ countries. Th¢ Search fi)r T¢ddy Island.. Funding from Small Steps, Big Changes to 8UPPOrt the d¢velopment and dclivcry of a Coi'id-%afe doorstep pupp¢try p¢rfornian¢¢ for famili¢% with carly ycar% children during lockdown. IMH Exhibition- funds lo managc th¢ gallery space al Th¢ In%titui¢ of Mental Health. Erasmus (British Council) grant to facilitatc a cultural cxchangc for young pcoplc and those working with thcin. Catalyst to dcvelop and cmbcd within thc organisation, thc skills nceded to fund-raise effectively, diversify our incoinc basc and cnsurc long-tcrni artistic and organi%ational groh. The transler Irom the AmiLhair Gallery lund to the General fund represents the net book value or rixed asseis, the use ol'which is not subject 10 dny restriLlion. Page 22
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 Balance at I April 2019 Incoming resources Re50ur¢e5 expended BAlance at 31 March 2020 Unrtstrlcted funds Genernl General fund 3,073 231,474 1213,682) 20,865 Restricted funds Celebrating Age Express Yourself Foylc Foundation IMH Exhibition Erasmus (British Coun¢ill Catalyst 36,682 7,500 20,000 2.971 30,660 14,820 {12,9191 {2.1131 {14.1371 {2,971) {30,6601 {14,11201 23,763 5,387 5.863 Total restrieted funds 112,633 {77,6201 35,013 Total funds 3,073 344,107 1291.302) 55,878 21 Analysis of net assets between funds Unrestricted fund5 Restricted fund5 2021 Total funds General Tangible fixed assets Current assets Current liabilities 3.974 97,110 110.6621 3.974 160,195 124.2331 63,085 {13.5711 Total net assets 90,422 49.514 139.936 Unrestricted funds Restricted funds 2020 Total funds General Tangyible fixed assets Currcnl a%%ct% Current liabilities 1.981 24,020 {5,1361 1.981 59,033 {5,1361 35.013 Total nei assets 20,865 35,013 55,878 Page 23