Company re¥istrdlion number= 05181856 Charity regisiration number.. 1106088 City Arts (Nottingham) Ltd (A company limited by guarantee) Annual Report and Financial Siatements for the Year Ended 31 March 2022 Community A¢couniing Plus Units l & 2 North Wc%i 41 Talbot Str¢¢t Nottingham NGI SGL
City Arts (Nottingham) Ltd Contents Reference and Administrative Details TNstees' Report 2105 Independent Examiner's Report Statement of Financial Activities 7t08 Balancc Shcct Notes to the Financial Statements IOto20
City Arts (Nottingham) Ltd Reference and Administrative Details Trustees Michaela Bllttcr Martin Orrell Mich¢l¢ Taylor James Parkinson Frances Franks Boseda Olawoye Kevin Love Nestor Valero-silva Secretary Joel Stickley Senior M*Thagement Temm Suzannah Bedford. Director Joel StiLkley. Deputy Director Ch8rity Registration Number 1106088 cOmpaY Registration Number 05181856 Registered Office 11-13 Hockley Nollingham NGI IFH IThdependeTht Exaler John O'Biien, employee of Community AccountlIlbl Plus Units l & 2 North West 41 Talbot Street Noiiingham NGI 5GL Page I
City Arts (Nottingham) Ltd Trustees, Report Thc trustces, who arc dircctOTS for thc purposes of company law. prcscnt thc annual report togcthcr with the financial statcmcnts of thc charitable company for thc ycar cndcd 31 March 2022. Trustees &nd officer5 Th¢ truste¢s and otTic¢rs s¢rving during th¢ year and sine¢ th¢ y¢ar end w¢re as follows.. Trustees". Miehaela Butter (appointed I l May 20211 Martin Orrell Micliele Taylor Janies Pl rkin50n (c1ppointed 15 September 2021 } Frances Franks {appointed 15 Sepiember 20211 Bo8eda Olawoyc lappointcd 15 Scptcmbcr 20211 Kevin Love (appointed 14 December 20211 Nestor Valcro-silva (appointed 14 Dccembcr 2021) Miriam Gifford {Tc%iLFned 14 Dcccmbcr 20211 Secretary.. Joel StiLkley lappointeil I l May 20211 Angus West Iresigned 14 tkcember 20211 Structure, governance and management Nature ofgoverning documÉnl The charity is a company limited by guarantee and Tegistered ¢harity. It is operated under the rules of its mcmorandum and articlc% nf a%%ociation datcd 16 July 2004. It has no share Capital and the liability of ea¢h mcmbcr in th¢ ¢vcnt of winding-up is limitcd to £ l. Rec'*uiimtJni appoirtimeni of irtss¢eeJ New Iru5tetS dre r¢Lruited by inviting tential candidates to tour our Hockley base. meet Chair and staff and observe a BoArd metting before sldnding for election through the due P[eSS al the A(tM. Objectives and activities Objects aims la) The 3dv8ncemenl of education and training in thc arts and cultural industries wilh ihc objcct of increasing community panicipation and devclopmcnt,. Ibl The proviqion ol- facilities for recrcaiion or othcr Icisurc timc occupation in ihc interest% of social wclfare with Ihc objcci of improving ihe conditions of life for thc inhabiianis of Nottingham City, Nottinghamshirc and th¢ Ea%1 Midlands in particular Ithc 'arca of bcncfii"),. Icl Th¢ rclicf of pov¢rty and promotion of %ocial inclu%ion and integration among the inhabitanis of thc arca of bcnefit. Page 2
City Arts (Nottingham) Ltd Trustees, Report City Arts UndCrtakC a varicty of WOrkhOps. coursc5, cvents and projects that aiTn to-. lil Dcvclop participation and cngagcmcnt in the arts,. lil) Tacklc wcial IsuC8. cxclusion and COTnmunity regcncration through the arts,. lili) Raisc public awarcnc8% of and %upport for thc art%', livl Mclltor and support local artitS working in thc participatory arts. Thc work of City ArtN' bcnefits grcatly froTn the paTtnenhip that the charity dcvclops with other arts and non-arts organisatitsns. This enablcs City Arts to achicvc a bTcat dcal Tnorc from limitcd rcsourcc% fur thc bcncfit of local pcople. Achlevements & performance As in thL pr¢'10u$ ycar. 2021122 was markcd by disruption and uncertainty as a result of Covid-19 and associated lockdowms and rcsthction5. c.ity ATts dcmonstrntLd TesiliencL and capability during these continued urtprLccdcntcd times. eKcccding capacity at all Ici.Lls of the organisalion in ordcT to dLlivLr against cxpcetations foT fundLrs and deliver work delaycd and problcmatiscd by thc pandcmic. WL cslimatc that each lime a project was delayed. thc workload rcquircd to deliver it incrcascd, meaning that ccrtain projects havc only been possible thTtsugh a commitment of three to four times Ihc origii)al planned person-hours. As a Small tcam all working part-iimc. Ihis has been challenging. bui our commitment to funders. anisis and participants has remained We continued to receive Cultural Recovery Fundin8 from Art5 Council En8land. allowing us to maintain resetve5 and protect P05ts. We also spent SlgTIiilicanl lime at board and 5taft' leN'e15 making preparations for the Art5 Council Ei)kTland National Portlolio application pioce5s. includin¥y in-depth work on constructing aclion plan5 around ACE'S investment priiiciples and the delivery ol. their len-year sliategy Let's Create. Alonb5ide thi5, We Teviewed our broader fundtai5inbJ 5tTategy in older lo ensure that we are well-p05ltiotJed to secure lunding once the opportunities foi Covid-related iecoN'ery fundingj end and the fundingT environment adjus15 to a 'new nomi<il.' In addition. we reviewed dnd implemented rvbust new proLesse5 to improve the quality uf Our ddta Lollectiun, qudlily dSSurance dnd environmental monitorinb to enbure we are as dyndmic and resilient as PUs5ible in these chilleng[lA& liines. Board devclopTncnt continucd, with a numbcr of ncw tru%tccs addinb to the divcr%ity and skill-ba5c of our board in areas including bu%inc55 dcvclopmcnt, cducation .scctOT partnership%. and financc. TTU%tcc% havc continucd to play an 4LCtivc rolc in the dcvclopTncnt of stratcgry thc mand¥cmcnt of sttatc¥ic [cltIonship. During this ycar, our Chair institutcd a ncw Nottingham Chaits. Mccting, brinbiinb togethcr th0C Icadinbi Nottin¥hamlshire based Luliural organisations to explore joined up ways of working and sharing learning. In December, our inaugural public AGM was attended ot)line by over 40 people. reaching a wide range of national. local and regional peers and siakeholders. including.. CEO Age UK, Naiional Tmsi. Nottingham Playhouse, Theaire Royal Concert Hall. Déda, Charnwood Arts. Ans4Demenii& board meMrs, artistg and community panel members. In temis of our creative programme, we delivered a number of innovative projects in response to community need, including.. Elevate- a programme of creative careers development opportunities for young people under-represenied in the arts secior. Partnerships with Broadway's Near Now project. The Prince's Trust and Real Creative Futures. Nottingham Puppci Festival a partnciship project with ThLatrL Royal & Royal Concert Hall and Nottinghum Trcnl University, animating the city with family-focuscd activities and pcrfomianccs. Catalyst artist development opportunities for black artists and artists of colour in NottinbTham in order to dddress sector-wide undeT-representalion. Poctry on the Go (POGO) - an Erasmus+ fijndcd augmcntcd reality app, working with international partners to cxplorc and showcase poetry across Eun)pe. Page 3
City Arts (Nottingham) Ltd Trustees, Report ARTploymcnt an Er78Us+ fundcd PTOjCCt working with partners in Dcnmark, Hondura5 and Colombia to ercatc a bcst practicc toolkit arollnd employmcnt in thc arts. Cr¢atc to Connt- a DCMS-supported programrne of activity to alleviate loneliness and social isolation among p¥opl¢ agycd 55 and over. Colours of Life - a partnership with Noitingham City Hospitsl's Cysiic Fibrosis Centre supporting paiienis and aflisis io co-creaie visual art and poeiry. Express Yourself - art5 activity for young people in Gedling, 5UPPOrting mental and physical wellbeing through partnership5 Wlth Gedling Borough Council, Active Nott5 and Nottinghamshire County Council Youth Service. Young Producers our self-led group of early-career creatives undertook projects including Our Place in partnership with Junction Arts. Artisi DL'vLlopment we have con¢inuLxl lo directly support. mentor and plailom artists following non-trdditional career routes as well ab artists who are under-represented in the sector. During this period, we worked intensively with Honey Williams and Simon Withers, among others. Get Creative lockdo. our long-running weekly art group for disabled adults was able to resume after a hiatus for Thc Window Gallery - our shop-front window is used year-round to showcase work by amazing artists and participants from across our programme. In a changed and still-changFinbF world, we believe that Ciiy Ans coniinues to punch above its weigTrht as a champion of meaningyful. responsive. inclusive work which uses high-quality art io make people's lives and communities betier. In 2021122, we employed 69 artists to deliver 433 hours of workshops to 1097 participants, includinLi vulnLrablc adults, mar&iinalised younL people and ¢ysti¢ fibrosis patients. One in five of those artjsts wcr¢ deaf or di4abl¢d. as w¢r¢ 220/0 of our staff t¢am. We believe that creativity is a human right. Every piece of work we do is undertaken on ihat basis. in the firni bclief that ai c.ity Arts. cveryone is an anisi. Acting on ihis conviction has been our mission since 1977 and will continue to be as we move forward. PMbli¢ benefil ThrougTh its work in Ilie visual arts, the performing arts and the Mryilten word, City Arts promotes inclusivity and access to great art as a basic right. The trustees confirm that they haye complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Fin8n¢ial review Policjy rE.Ferve.I The Managemenl Committee continues to examine the chariry's requirements for reseeS in the light of the main risks io ihe organisalion on ai least an annual basis. The policy states that unresiricted funds not commitied or invested in iangible fixed asseis held by the charity (working capiial}. Should be at leasi ihree months current operating costs, although this is dependent on ihe perforniance of the organisation. As of ihe end of 2021122, the level of our unrestricied reserves was below the iargei amount. Ihis has been due to rhe period of Covid recovery since Ihe end Lif the pandemic. Page 4
City Arts (Nottingham) Ltd Trustees, Report Statement of Trnstees, Responslbllltles Thc lrnslees (who are al%0 ihc dircc10 of City Arts INottinghaml Ltd for th¢ purposes of company lawl ar¢ responsiblc for preparing the tru%tces' report and Ihc fjnancial slatcmcnts in accordance with the Unil¢d Kingdom Accounting Siandard.% (Unilcd Kingdom Gencrally Aceeptcd Accounting Praciiccl and applicable law and regulations. Thc rcport and account% havc bccn prepared in aecordanec with the provisions in th¢ Compani¢s Aet 2006 r¢lating io small compani¢s. Company law rcquircN thc tTU%tcc% t(} preparc finanLial %tdtCTncnts. foT each finiinciJl ycar. Undcr company law thc tru%tcc% must not approve thc financidl statCTncnts unlc%s thcy are satisficd that they ¥ivc a tTUC and fair vicw of thc ststc of affairs of thc Ch7 ritablc company and of its incoTning rcsouTCCS and application of rc%ourccs, including its incomc and cxpcnditurc. foT that PCTiod. In prcparing thcsc financial ststCTncRts, thc tTUStCC5 are requircd to.. selecr suitable accounting policies and apply them consistenily. observe the methods and principles Ill the Charities SORP; make judgements and egtimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fjnancial statements,. and prepare the fjnancial 5talemenls on the going concern basi5 unless it LS inappropriate to presume that the charitable company will continue in business. Thc Iruslces arc responsiblc for kLeping adequatc accounting records that are sulYJLicnt to show and explain the Lharitable company's transactions and disclose with rcasonable accuracy at any timc Ihc Iinancial position ol. the Lharitable Company and Lnablc Ihcm to cnsure that thc Iinancial siatLmcnts comply with the Companies Act 2006. Thcy are also responsible for salcguarding the asscts ol. the charitable company and hence lor taking rcaqonablc sicps for the prcvcnlion and dctcciion of fraud and oihcr irrcgulariiic%. Small companies provision statement Thiq rcport has bccn prcparcd in accordance with ihc %mall companic% reme under thc Companies Act 2fi. The annual report was approved by the irustees of the charity on l December 2022 and sied on its behalf by.. Michaela Butter TTUStee Page 5
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 {liottinghaml Ltd {'the Company,) I report to thc charity trustccs on my cxamination of thc accounts of thc company for thc ycar cndcd 31 March 2022. Responslbllltles and basls of report As the charity's irusiees of ihe company land also lis direciors for the purposes of company law) you are resp)nsible for ihe preparaiion of the accounts in accordance with ihe requiremenis of the Companies Act 2(KJ6 I'the 2006 Act.). Having saiisfied myself thai the accounis of the Company are not required to be audiied under Pan 16 of the 2006 Act and ore eligible for independent examination. I repon in respeci of My examinaiion of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying> L)Ut my examination I have followed rhe directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. lThdependent examiner s statement Since Il)e Coinpany's gr05s iiicome exceeded £250,000 your examiner must be a mernber of a body listed in section 145 of the 2011 Act. I confirm tlial l am qualifjed to undertake the examination because l am a member and Fellow of the Association of Charity Iiidependenl Exaininers, which 15 one of the listed bodies. I have completed my examination. I confinn that no tnatter5 have come to rny attention in connection with the exainination bJLvinbF me cause to believe that in any material respect-. l. accouniing rccords werc not kepi in rcspcci of the Company as required by section 386 of the 2006 Aci,. or 2. thc account% do not accord with thosc Tccord%,' or 3. the accounts do not comply with the accountln8 requirements of section 396 of the 2006 Acl other than any rryuiiemenl that the account5 give a 'true and lair, view which is not a matter considered as part of an independenl examination: or 4. the 3ccounl% havc not bc¢n prepared in accordance with ihc rncthod8 and principles of th¢ Statement of Rccommendcd Practice for accovniing and reporting by chariiic% lapplicable lo charitic% preparing their accounts in accordancc wilh thc Financial Reponing Siandard appli¢ablc in thc UK and Rcpublic ot Ircland (FRS 10211. I have no conceTns and have come acTOSS no other matters in connection with thc examination to which attention hould be dra) in this report in order to enablc a propcr undcT5tandin¥ of the accounts to be rcached. John O'Brien Msc, FCCA, FCIE, employee of Communiiy Accounting Plus Fellow of the Association of Charity Independent Examiners Units l & 2 North West 41 Talhot Street Notiing>ham NGI 5GL Date.. 1511212022 Page 6
City Arts (Nottingham) Ltd Statement of Finaneial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2022 Total 2021 UThrestricted Restricted Note Income and Endowments frotn: Donaiions and legacies Chariiable activities Investment income 201.950 27,258 14 201.950 150,395 14 298.184 129,211 38 123,137 Total Incorne 229.222 123.137 352.359 427.433 Expenditure on: R<ii%ill¥ fund5" Charitablc activitics 11,124) 1269.776) (2,0331 1341.342) {75.316) 1345.092) Total Expenditure 1270,900) {75,3161 1346,216) 1343,3751 Net lexpenditurellincome 141,6781 47.821 6,143 84.058 Net movement in funds {41,6781 47.821 6.143 84.058 Recon¢ili#tion of funds Total funds broubThi forward 90.422 49,514 139.936 55,878 Total funds ¢arried forward 20 4X,744 97,335 146,079 139.936 All of ihe chariiy's activiiies derive from continuing operaiions during ihe above No periods. The funds breakdown for ihe period is shown in note 20. The notes on pages 10 to 20 fom] an integral part of these financial statements. Page 7
City Arts (Nottingham) Ltd Statement of Finaneial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are tbe fJgure5 for the previou5 accouThting period are included for compsrative purpose5 Unrestricted Restricted Total fund5 fund5 2021 Note Income and Endowments from: DolI0nS dnd lebTacies Charitable activities Inv¢stm¢ni in¢om¢ 298.184 17.711 38 298.184 129.211 38 111,500 Total income 315,933 111,500 427,433 Expenditure on: Raising funds Charitable activitie5 (2,033) 1245.3431 (2,033) 1341.3421 195.9991 Total expendire 1247.3761 195.9991 1343.3751 Net income 68,557 1.000 15,501 (1,000) 84,058 TransfeT5 between funds Net movement in funds 69.557 14.501 84,058 Reconciliation of funds Total funds brought forward 20,865 35.013 55,878 Total funds carried forward 20 90.422 49,514 139.936 The notes on pages 10 to 20 fom] an integral part of these financial statements. Page 8
City Arts (Nottingham) Ltd (Registration number: 05181856) Balance Sheet as at 31 March 2022 21122 2021 Note Fixed gssets Tangible asscts 13 1,657 3,974 Current assets Debiors Cdsh at bank and in hand 1,388 148.304 9,720 150.475 15 149,692 160.195 CredTtors: Amounts falling dut within one vear 16 15.2701 (24.2331 Net Current assets 144,422 135,962 Net assets 146.079 139.936 Funds of the charlty: Re5trieted ineome funds Reblricled funds 20 97,335 49,514 urestrIcted income fuNd5 UnrestriLtcd fund 48.744 90.422 Total funds 20 146,079 139,936 Fi)r thc financial ycar cllding 31 March 2022 thc charity was entitled tg exemption from audit under section 477 of thc Compani¢s Act 2006 rclating to small compani¢5. Dire¢tor5' responsibilities: The members have not required the charity io obtain an audit of its accounts for the year in question in accordance with seciion 476; and The dircctors acknowlcdLFc thcir TcponsIbilitIeS for complying with thc rcquircjncnts of thc Act with rcspwt to accountinLT rccords and thc prepardtion of accounts. These fin£ltLCidl stdttmtnts h41Vt been prtpartd in accoidance with the Special PlOV15Lon5 relatin¥ to companie5 ubject to the STnall companies resyime within Part 15 0l.tht Companies Act 2006. Thc financial %tatcmcnt% on pages 7 to 20 werc approvcd by thc trllstccs, and authoriscd for is5uc on I DcceTnbcT 2022 and si¥ned on their behalf by.. Fraiices Franks Trustee The notes on pages 10 to 20 fom] an integral part of these financial statements. Page 9
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 l Ac£ountinR pollcie5 Summary of significant accounting policies ad key accounting estimate5 The prinLipal JcLouniing poliLies dpplied in the prepdraiion of these finanLial statements are set out below. These policies have been consisienily applied io all the years presenied, unless otheti¥ise stated. Statement of complianct ThL finanLial 4latLmLnis have been prepared in accordance with Accounting and Reporting by Charities- Sialemenl of Rc¢L)mm¥ndLd Pra¢lice lappli¢able to charilies pr¢paring th¥ir accoun18 in accordance wilh Ihe Financial Reporting Siandard applicablL in thc UK and Republic of Ireland IFRS 10211 (issued in October 20191 Ichariiics SORP IFRS 10211, IhL Financial Reporting Siandard applicable in the UK and Republi¢ of Ireland IFRS 1021 and the Companies Act 2006. Basls of preparation City Arts INotiinghaJnl Ltd meets the defjniiion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Golng eoneern The financial statements have been prepared on a going concern basis. The trustees as5es5 whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast signifjcant doubt on the ability of the charity to eontinue as a going concern. The trustees make this assessment in respect of a period of ot]e year from the date of approval of the financial statements. Exemption from preparing 8 rash Ilow statement The charity opted to adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement Ln these financial statements. Income and endoM'ments Voluntary income including donations. gifts. legacie5 and grants tl)at provide COTe funding or are of a general nature is recognised when the charity has entitleTnent to the income. it 15 probable that the income will be received and the amount can be Ineasured with Sufficient reliability. Donuiion.f legacies Donaiions are recogTrnised when the charity has been notified in writing of both the amount and seitlernent date. In ihe event that a donaiion is subject to conditions that require a level of performance by the charity before Ihe charity is entitled to ihe funds, Ihe income is deferred and not recogjnised until either those conditions are fully mcl, or the fuifilincnt of thosc conditions is wholly within thc control of thc charity and it 1% probdblc thai ihcsc eonditions will bc fuifillcd in th¢ r¢portinb pcriod. Grnnts receiwable Grants are recognised when the charity has an entitlement to the fund5 and any conditions linked to the grants have been mct. Wherc pcrfomiancc conditions ale attached tts the grant and arc yet to be met. the income is reCOlS¢d us a liability and i1)LlUd on thc balance shcct a5 dcfcrrcd income to bc relcased. Page 10
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 Jnwe.flment income Dividcnds are rcco&mised oncc thc dividcnd has bccn dcclaTcd and notification has bcen rcceivcd of thc dividend duc. Expenditure All expendiiure is reLognised once there is a legal or eonstruciive obligation to that expenditure. il is probable settlement is required and the amount can be measured reliably. All costs are allocated io the applicable expenditure headin¥ that aggie¥ate similar costs to thai Laie¥oiy. Where costs cannoi be directly aiiTibuted to particular headin¥s they have been alloLaied on a basis consistent wilh the use of resouiLes. wilh central sts)ff LOSI5 allocated on the basis of time spent. and depreLiation Lhar¥es allocated on the portion of the asset'g use. Oiher support cosis ale alltiLated based on the gpread 01. Staff LOSIS. Th¢%¢ arc costs incU¢d in atiraciing voluntary incomc, th¢ managcmcnt of invcstm¢nts and thos¢ incurr¢d in trading activitics that raise funds. Chorituble aclivitie. Charitsble expenditUTe ¢ompTises those Logls incurred by the charity in the delivery of its &Clivities and services foT Its benefiLidiies. It includes both costs that can be allocated directly 10 Such aLtivities and those Logls of an indiieci ndluie n¢ce55dry to SUPPOrt them. Taxation The Lharity is considered to pags the resis set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore li meeis the definition of a chariiable company for UK corporation (ax purposes. According)ly. the chariiy is poientially exempt from iaxaiion in respect of income or capiial g)ains received within categiories cowered by Chapier 3 Part I l of the Corporaiion Tax Act 2010 or Seciion 256 01. the Taxaiion of Chargleable Gains Aci 1992. 10 ihe exteni that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individiial fixed absets costing £500.00 or nx)re are initially recorded ai cost, less any subsequent accumulated depreciation and subsequeni accumulated impaim)eni losses. Depreciation and amort15ation DepreLialion is proi'ide<l on tangyible fixed asseis so as to wriie off the cost or valuation, less any estimated residual value. over Iheir expected useful economic life as follows.. A55et £la5S Computer e4uipment General ryUiPTnent Leasehold iTnprovements Depreciation method ad rate 33.3°/o on a Siraih1 line blS 33.3 /0 on a 5trai¥lit line basis 25 % on a straibFht line ba5lS Pagell
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 Trade debtors Trade dcbiors are amounts du¢ from ¢ustom¢rs for m¢rchandis¢ sold or servi¢¢s perfomied in th¢ ordinary eours¢ of business. Trade debtors ar¢ r¢cognis¢d initially at th¢ transaction pri¢e. Th¢y are subsequently m¢asur¢d ai amortis¢d cost using Ihc effeclii'c inicrcsl method, Ic8$ provision for impaimcnt. A provision for the impaimicnt of trad¢ dcbtors is cslablishcd whcn Ihcrc 1% obj¢ctiv¢ ¢vidcnc¢ that th¢ ¢hariry will noi bc abl¢ to coll¢ct all amounts du¢ according to the original temis of the receivables. Cash and cash equivalents Cash and cash cquii'alcnts comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of ehange in value. Fund structure Unrestrictcd income fund5 are general funds that are available for use at the tn]5tee5' discretion in furtherance of thc objectives of the charity. Restricted income funds are those grants for use in a particular area or for specific purposes. the use of which is restricted 10 that area or purpose. PeD5ioDs aThd other post retiremeTht obligations The chariiy operaies a defined coniribuiion pensilin scheme for employees. The assets of the scheme are held separately from thL)se of ihe charity. Pension cosis charges in the Statement of Financial Aciiviries represeni the contributions payable by the charity during the year. 2 Income from donAtions and legaeies Unrestricted funds Genergl Tot81 2022 Totgl 2021 Donaiions and Icgacics- Donations from individuals Grnnts, including capital grants; Govetllment ¥YTatJts Grants frojn other charities 2,7(M 2,7(M 1,154 196,321 2,925 196,321 2,925 220,781 76.249 201,950 201,950 298,184 Page 12
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 3 Income from charitable actlvltles Unrestricted funds General Restricted funds Total 2022 Total 2021 Grants & donations Feeb & commissions PTogratnmes & activities Facilities & resources 123.137 123,137 20.010 111,500 12.645 457 3,499 20,010 7,014 234 7,014 234 Other income 27,258 123,137 150,395 129,21 4 Grants & donations Unrestricted funds Restricted funds Total Arts Council British Council JibTsaw Hoine5 Nottingh7 Inshire County Council Nottinghamshire County Cauncil ILIS) NCVS Notiing>ham City Council Jun¥lion Arts Small Stcps Big Changes New Art Exchange Activc Partncr% Tru%t Dcrby & Burton NHS Notling?ham Hospitals Charity Bulwell Ans Festival Thc Mighty Crcatives Thc Royal Conccrt Ilall {Nottingham) Univcr%ity of Nottin¥hdin Sundry donations 155,339 51,347 27,440 10,000 8.060 4.500 2,420 206,686 27,440 10,000 8,060 4.500 2.420 39,982 3.000 10,000 2.000 4,370 1.000 1.000 600 5(Kl 5tN) 325 2.704 39,982 3,000 10,000 2.00 4.370 i.o(M) 1.000 600 500 500 325 2.704 201,950 123,137 325.087 Page 13
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 5 Investment Income Unrestricted funds General Total 2022 Total 2021 Interest receivable and similar income. Interest receivable on bank Jeposi¢s 14 14 38 6 Expenditure on raising funds a) Costs of gener4tlng donatlons and legaeles Unrestricted funds General Total 2022 2021 Note Marketing and publicity 1,124 1.124 2,033 7 F4et incominglomtgoing resources Nct incominbT Tc%ourcc% for thc ycar include.. 21122 2021 Dcprcciation of fixed assets 2,317 2,978 8 Fees pay4ble to independent examiner Durins the period. the fee5 payable {excluding VATI to the charity'5 independent examiner Community Accounting Plus are analysed as follow5.. 21112 2021 Independent exatnination Other financial services 930 1.806 950 758 2.736 1.708 Page 14
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 9 Expenditurt on charltable actlvltles Unrestricted funds General Restricted funds Total 2022 Total 2021 Project costs Project salary costs Depreciation Staff travel & 5ub51Stence 50,845 41,115 8.588 91,960 8.588 2,317 452 90,515 8.560 2,978 283 332 2,317 452 Staff training Prcmisc% cost 30.992 2,327 981 6,340 157,106 366 3.323 30.992 2,327 981 6,340 182,719 366 3.323 29.164 1,931 1.924 3,394 189,714 276 1.302 239 100 4,450 822 5.358 Officc costs Legal & professional fees In4urance OthLr wages, Nl & pensions Bdnk char¥cs AccountinbT & payroll Staff rccruitment RLfrL'shments Organisational Development Sundry payments IT & communications Bodid Losts 25,613 524 8,058 73 524 8,058 73 960 960 269,776 75,316 345,092 341,342 10 Trustees remuneration and expenses No trustees, nor any persons connected with them. have received any Ternuneration fro the charity during the year. No trustees have received any reimbursed expenses or arty other benefits from the charity during the year. I l Taxatio Thc chariiy is a regi.%icrcd chariry and is ihcrcforc cxempt from taxation. Page 15
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 12 Staff Costs Th¢ aggregat¢ payroll ¢osts wer¢ as follows.. 21122 2021 Staff cost5 during the were: Wag¢s and salari¢s Social %ccurily cosis Pension costs 177.128 10,567 3,612 184.340 10,392 3,542 191,307 198,274 The monthly average number of persons (including senior management team) employed by the charity during th¢ y¢ar was a.s follow%'. 21122 No 2011 No Average number of employees 712021 71 of the above ernployees participated in the Defined Contribution Pension Schernes. Contributions to the employee pension scheme5 for the year totalled £3,61212021 £3.542). No employee received emoluments of rnore than £60,000 during the year. The total etnployee benefits of the key rnanagetnent per50tuJel of the charity were £65,280 (2021- £64.9611. 13 Tangible fixed 4$sets Computer equipment General equipmeTht Leasehold itnprovements Total Cost At l April 2021 14,371 108.026 5.284 127,681 At 31 March 2022 14,371 108.026 5,2X4 127,6¥1 Depreciation At l April 2021 Charge for the year 11,057 1,657 108,026 4,624 660 123,707 2,317 At 31 March 2022 12.714 108.026 5,284 126,024 Iyet book value At 31 March 2022 1,657 1.657 At 31 March 2021 3,314 660 3.974 Page 16
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 14 Debtors 2022 2021 Prepayments Oiher debtors 1,388 9.720 1.388 9,720 15 Cash and £ash equivalents 21122 2021 Cash at bank 150,475 16 Credltors: amounts falllng due wlthln one year 21122 2021 OihLr laxalion and social security Othcr Creditors 3,449 1.821 .818 15,415 5,270 24,233 17 Oblig8tion$ under legse$ and hire purch85e contrnctS Operating lease commitrnent5 Total future minimum lease payments under non-cancellable operating leases are as follows.. 21122 2021 Land buildings Within one ycar Bctwcen onc and five years 14.000 40,K33 14.000 54,X33 54.833 68.833 18 Cbaritv Status The charity is a company limited by guarantee and consequenily does noi have share capital. Each of the Irusiees is liable lo contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 19 Rellted pArty transactions There were no related party transactions in the year. Page 17
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 20 Funds Balance at I April 2U21 Incoming resources Resources expended Balance at 31 March 2022 Unrestrlcted funds GeneMI Genernl fund 90,422 229.222 1270.900) 48,744 Restricted funds Express Yourself ArtPloymeni {2021-20231 Foyle Foundation Poetry on the Go Hoopla ISSBCI Rcsidcnce (Ans Council England) Blue to Green Young) Producers (Junction Ansl Elevale Piojecl Create to connect 8,870 18.8701 (2.Y03) (5,863) 119.4011 37,182 5.863 6.469 34.579 27.440 10.000 14.508 10.000 22,419 20,4NII 3,000 2.000 28,928 16,0811 1251 (3.000) {345) 128,9281 16,338 20,455 1.655 Total restricted funds 49.514 123,137 175,3161 97.335 Total funds 139,936 352,359 1346.216) 146,079 The specific purposes for which the ndS are to be applied are as follows.. ARTploymcnt 12021 20231.. Funding from Erasmus+ to dclivcr a crcatlvc skills and carccr dcvclopmcnt pro¥rdmme for young people diffeicnt ¢ounthc%. in collaborntion with intCTll()tional partners. including both European and South American organisations. CelcbTating Age- pmgrnmme of arts aetivities with older people. Express Yourself (Nottinghamshire LISI contribution ¢owards revenue costs of a programme of creative oppoffunities for young people ihai will f(u$ on emotional well-being. attainmeni. skills development and increasing young people's contribution to civic society. Foyle Foundation - io support the Sneinion Stirred Up festival and work as pan of Nottingham Puppei Festival. Poetry on the GL) (POGLII.. Funding from Erasmus+ 10 collaboratively develop a smarrphone app exploring and celebraiing poetry from different cultures, working wilh intemational parn)er organisaiilins and young people in their respeciive home couniries. Page 18
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 Hoopla - funding from Small Stcps Big Changcs ISSBC) - this project aimcd to bring bcspoke outdoor fcstivals for familics with carly-ycars childrcn to Communitic undcr-.%crYcd by thc city's cultural offcr. Crcatc to Conncct sllpported by DCMS funding administcrcd by Arts Council England. Crcatc to Connect aimed to address social i501ation aTntsng over-555 thTtsugh a progtamTne of online crcativc WOTkshops. Residence - an artist development pmject funded thTough an Arts Council England project gTant. Residence aimed to %upport di%ablcd artist, black artists and artists from communities lowly t8nked foT socio-economic stdtus in thc dcvclopmcnt of thcir skills and carccTS. Blue to Green - funded by Nottingham Community and Voluntary Service's Greenspace prograrnme. the Jigsaw Foundation and Nottinghamshire Couniy Council's Covid partnehIp Recovery Fund, Blue to Green provided a series of participaiory art workshops to Nottingham and Notlinghamshire residents to support mentsl wellbeing. Young Pr(xlucers - Our Place project.. supported by funds from Junction Ans. this project gave our Young Producers group the opportuniry to produce creative work celebrating ihe people and places of the East Midlands. Elevaie Project.. supponed by Broadway"s Near Now programme, The Prince's Trust and Big House, Elevate was a programme of skills and career development for young creatives taking non-traditional rliuies inio the arts. Balance at 31 March 2021 Balgnce gt I April 2021 Incoming re50urc¢5 Resources expended Tr&Dsfer$ Unrestricted funds General G¢n¢ral fund 20,865 315,933 (247,3761 1,000 90.422 Restricted Annchair (iallcry ArtPloyment (2018-20201 Express Yourself ArtPluymenl {2021-20231 Foyle Foundation C¢lebrating Age Pociry on ¢hc Go The Search for Teddy Bear Island 20,000 (19.000) I 1.000) 5.387 10,870 37,182 116.257} 37,182 5.863 5.863 23.763 9.720 14,610 133,483) 18,1411 6,469 6,000 16,0001 Total restrleted funds 35.013 11,500 (95.999} (1,000) 49,514 Total funds 55,878 427,433 (343.3751 139,936 Page 19
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 21 Analjsls of net assets betwten funds Unrestricted 2022 Total lunds General Restricted Tangible fixed assets Current assets Current liabilities 1,657 52,357 15.2701 1,657 149,692 15.2701 97,335 Total net assets 48.744 97,335 146.079 Unrestricted 2021 Total funds General Restrieted Tangible fixed assets Qurr¥nl a%s¢t Current liabilities 3.974 97,110 110,6621 3.974 160,195 {24.233) 63.085 113.5711 Toial net asseis 90.422 49.514 139.936 Page 20