Company registration Iiumber.. 05181856 Charity registration number.. 1106088 City Arts (Nottingham) Ltd (A company limiied by guarantee) Annual Report alld Financial Statements for the Year Ended 31 March 2023 Cojnmunity Accounting Plus Units l & 2 North West 41 Talbot Street Nottin¥hatn NGI 5GL
City Arts (Nottingham) Ltd Contents Reference and Administrative Details Trustees, Report 2to5 Independent Examiner's Report Statement of Financial Activities 7t08 Balance Sheet Notes to the Financial Statements Ioto 19
City Arts (Nottingham) Ltd Referenee and Administrative Details Trustees Michaela Butter Martin Orrell Michele Taylor Jatne5 Parkinsoii Frances Franks Boseda Olawoye Kevii) Love Nestor Valero-silva Mary Strickson Joel Stickley Secretary Senior Management Team Suzannah Bedford. Director Joel Stickley, tkputy Director Charity Registration Number 1106088 Cornpany Registration Number 05181856 Registered Office Il-li Hockley Nottingham NGI IFH Independent Examiner Johll O'Brien, employee of Communits. Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I
City Arts (Nottingham) Ltd Trustees, Report The trustees. who are directors for the purposes of company law, present the aiinual report together with the financial 5tatement5 of the charitable coinpany for the year ended 31 March 2023. Trustees and officers The trustees and officers serving during the year and sin¢e the year end were as follom's.. Trustees.. Michaela Butter Manin Orrell Michele Taylor James Parkinson Frances Franks Boseda Olawoye Kevin Love Nesror Valero-silva Mary Strick50n (appointed 25 July 2023) Secreiary.. Joel Siickley Structure? governance and mallagement alure olgoverning docNmenl The chwity is a company limited by guargnte¢ and registered charity. It is operated under the rules of its memorandum and articles of associatii)n dated 16 July 2004. It has no share capital and the liability of each MeMr in the event of winding-up is limited to £ l. ReLruilmenl ftiid PpoIntmEnt uftruitees New trustees are recruited by inwitii)g potential candidates to tour our Hockley base, meet chair and staff and observe a Board meeting belore standii)g for election ihrough the due process at the AGM. Objectives and activities Objects and {a) The advaiicement ol- educatioii and tydining in the arts and culiural industries with the objeci of iiicreasing community participation and development,. {b) The provision Lif facilities for recreatilin or other leisure time occupation in the interests of social welfare with the object of improving the conditions of life for the inhabitants L)f Nottingham City. Nottinghamshire and the East Midlands in panicular (the 'area of benefit"}; {c) The relief of poverty and prL)motion of social inclusion and integratilin among the inhabitants of the area of benefit. Page 2
City Arts (Nottingham) Ltd Trustees, Report City Art5 undertakes a variety of workshops, courses, events and projects that aim to.. {1) Develop participatioii and ei)gagetneiit in the arts; {ii) Tackle Social issues, exclusion and comTnunity regFeneration through the arts; {iii) Raise public awarei)es5 of aiid 5UPPOrt for the arts., {iv} Mentor and support local art15ts working in the participatory arts. The work of City Arts benefits greatly from the partnership that the charity develops with other arts and non-arts organisations. This enables City Arts to achieve a great deal Inore frtsn) limited resources for the bei)efit of local people. Achievements & performance Since 1977. we have been breaking down barriers to reconnect people with art, culture and creativity. We collaborate wilh coinmuniiies and artists io creaie and explore art of all kinds. making sure our work is inclusive and relevant by listening to w'hat communities need. We siand up for people who are under represented in the arts. We see talent where it has been overlooked and undervalued. We believe that everyone is an artist. Between April 202? and March 202i... .we delivered 262 creative workshops, helping 1,902 people to express themselves and learn new skills. .L)ver 57.IMIO people stopped 10 look at exhibitions in our Window Gallery. .we provided £44,439 worth of employmeiit for 40 freelance art15ts, and supported 134 others with opportunities to develop or showcase their work. . l in 6 of the artists we employed were deaf or disabled. .50 /• of our staff were from traditionally working class backgrounds. .we delivered mini-festivals for ages 0-4 in St Ann's, Aspley, Bulwell at)d Hyson Green. .we worked on international projects with partners from Denmark. Gemiany, Turkey, Poland, Romani4 Colombia and Hondllra5. .we cut our carbon emissions by 34 /. .99 /0 of people who filled in a survey said that that the event they attended was either Very Good (80/o} or Good { IV/o). We're working on the other l°/0 Key projects for us during this year were.. Artployment - An international collaboration promoting entrepreneurship to youllg people enterillg the arts. {Supported by Erasmus+l Blue tts Gretn - Free arts activities for adults in Nottingham and Noitinghamshire experiencing mental health issues. Participants join small, supportive workshops led by professional artists. Sessions take place in some of our city & county's most inspiring outdoor spots. (Supported by the Jigsaw Foundation. Gedling Borough Council, Green Space and Noitinghainshire County Council) City Arts Hosts- Our buildin¥ in Hockley provide5 a home for 5elf-led creative ¥roups who inight otherwise 5tru¥¥le to fiiid an iiiclusive, accessible veiiue in the city. This year, we were privile¥ed to host laniong others) 'ellbeinu_focu5ed poetry collective DIY Poet5, My Si¥ht choir for blind and partially-si¥hted sin¥eT5 and the
'outh camival troupe Inspire Urself. Page 3
City Arts (Nottingham) Ltd Trustees, Report Elevate Free course5 to help youiig creatives jumpstart tlieir careers, including diuital art5. illustration and gaine5 development. The course prioritises people who have takeii non-traditioiial routes into the arts. {Siipported by Near Now. The BigF House. Prince's Trust and Real Creative Futures) Exhibitions with the Institute ol Mental Health - Showcasing work by artists with experience of mentsl health issues. The exhibitions are inclusive and varied. M'ith an array of Ork from exciting new artists both professional and non-professional, boih trained and self-taught. (Supported by the Institute of Mental Health at the University of Nottingham} Get Creative- Weekly therapeutic art workshops for people who have leaming disabilities, mental health issues or are receiving other types of health care in the community. Heart - A creative exchange connettii)¥ communities to the work of the Biodiscovery Institute through textile art. (Supported by the Biodiscovery Insiituie ai the Universiiy of Nllitingham) Hoopla,. Mini-festivals for ages 04 in Nottingham neighbourhoods ranked highly on the indices of miiltiple deprivation aiid which are underserved by the city'5 cultural iiistitlltions. (Supported by Small Steps, Big ChangTeS} Poetry on the Go (POGO) - An Augmented Reality mobile app showcgsing poetry to young peopl¢ across Europe. (Siipported by Erdsmus+) Residenee An artist development programme designed to connect artists with Nottingham's communities. Local people become 'Community Curators . The}, design projects and commissilin artists, working together to explore the lives of people in Nottingham. (Supported by a projeci grant from Arts Council England) Young Producers - A group for 18-iO year olds looking to be a part of Nottingham's thriving creative ene. We also worked with partners and clients to deliver all sorts of iiispiring and inclusive events and opportunities for the communities of NOttInaTn that fell outside our core programme. 2022123 was a year of change and renewal for City Arts. as we took stock of a post-covid landscape and worked to refresh our programme, secure funding and build the partnerships that make all of our work possible. Staff and ix)ard have worked tirelessly 10 ensure Ihe organisation is robust with a clear vision for the future that is built on realistic and achievable goals. Public henefil Through it5 m.ork in the visual arts, the perfotyning art5 and the MTitten word, City Arts promotes inclusivity and acce5S to ¥reat art a5 a basic huinaii right. The trustees confimi that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Financial review We ended 2022123 with an appropriate level of reserves as per our reserves policy and excellent progress on our fundraising tsrgets for 2023124, '1th 86/0 of the next year's income secured ai the outset. We have brought the Paul Hamlyn Foundation on board as a new core funder allingside Arts Council England and Nottingham City Coiillcil, alld continue to ¢njo}' very positive relationships M'ith project funders, includin£ major trusts and fi)undations and partner orgallisations both within and beyond the arts se¢tor. In wliat has proved to be a challcnging funding environmcnt for hoth arts organisations and the charitable sector as a whole, City Arts has adapted our srrategy gnd refociised our mission to achieve financial stsbility. Page 4
Citv Arts (l%ottingham) Ltd Trustees, Report Poliey reserve5 Thc Managcmcni Commiiice coniillues to cxaniinc the chariry'5 rcquircmcnt.% for rC.ervCS in the light of Ihc masn risks 11) the organisation on di Ica%1 an annual ba%is. Thc policy %iatLS thai unrcgirictcd fuiid% noi commitied or invested in tangihlc fixLd asse1% held by Ihc charit! (w'orking capiiali, should bc at leat three monih% currLni operdting L05t%, dl(hou&rh thiq is dependeni on Ihe perfurmance of the organisaiion. As 1)f ihe end of 2022123. the level uf our unrestriLted re%eries bel()w the taTgFel aniount. this ha5 b¢en due to the period of Cokid recovery sinLe iht tnd ofihe pandeinic. tatement of Respon5ibilit1¢5 Tlic trustcc% Iwlio are also Ihe directors of City An% INnitinLihaml Ltd for the purposes of Companv law) aye responsiblL for preparing) the tnJ51ee%' iepori ai)d the financial %tatement% in accordtsnce th'iih applicablL la aiid LlnilLd Kinsydom Accounting standards (Llniied Kingdoim CJeneriilly Accepied Accounting Practicel. includin FRS 10? "The Fiiiancial Rcporting Siand<ird dppIic£iblL in the LK and RLpublic ul. IrLlan(I" Th¢ report atid acLounts have been prepared in dLLordanLe with the provisions in the Coinpanies ALt 2006 r¢lating to small companL¢S. Company law requires the trustees to prepare linancial siaiemenis for each financial year. L'nd¢r compan}. law the trusiees must not approvc ihc financial statemenis unless they are satisfied Ihai they givc a trn¢ and fair Nicw of the siatc of affaiTS of Ihc Charitablc company and of the ineoming Icsourccs and applicarion of sOurces, including 115 incomc and cxpcndirurc. ol. Ihc chariiablc coiiipany for that pcriod. In prcparing thesc financial statement5. the trustCLS arc requircd to.. select suitable accouniing policies and applv them ¢on4i.%t¢ntly', observe the method% and principles in the Charities SORP: make judgement% and e%iimales tha¢ are rea%on£ible and prudenl." siaie he1her applicable a¢¢ouniing standards. comprising FRS 102 hai'e been followed. subjeei to any Ina'r1aI depaTiures di5¢1oscd and cxplained in Ihe financial s&2temen(s'. and preparc th¥ financial stalemetjis on the going conccrn basis unless il is inappropiiale Iv presun)c that Ilic charitable company will conliiiue in busine%s. Thè tru.%tces are rc%pon%iblc for kcepiiig proper accounting rccords that can di5c105c wilh rea8onablc accuracy at any limL IhL findncidl po%iiion af ihL charitable compiilly dnd cnablc theTll to ensure tha¢ the financidl %idlcmcnt comply with the Companic% A¢r 2000. They ale 1]50 re%ponsible for safeguarding the assets of the charitdble company henLe for taking reawnc1ble.%l¢ps fur the prevenlion Lind d¢teLlion of fraud and othLr irrcgulL2rilie5. The Irusiees are reSpOn1b]e lor the inainlenance and iniegriiv of ihe corporate 8nd finanLial inlomiaiion in¢lud¢d on the cl)aTilable conipanj s websiie. Leg?islation governing the preparation and di5serninalion of fjnanctal siaiements may differ froin legislaiion in oiherjuribdieiions. Small companie5 prO$10n stattmeni This report has been prepared in accordance with ihe sinall companies regime under the Companies Act 2006. The annual report wa5 approved by ihe trustees of the charity on 30 November 2023 and signed on it% behalf by.. MichaLla Butter Trusice Pa&?e S
City Arts (Nottingham) Ltd Independent Examiner's Report to the trustees of City Arts (Nottingham) Ltd {'the Company,) Independent examiner's report to the tru5tee5 of Citj Art5 (Nottingham) Ltd ('the Compan! ) I report to the charity trustees oil my exainination of the accounts of the company for the year ended 31 March 2023. Responsibilities and basis of report As the charity'5 tiustee5 of the Compan}. land a150 Its directors for the PUTP05es of company law) you are responsible for the preparatioii of the account5 in accordance with the requirements of the Cornpanies Act 2006 {'the 2006 Act,). Having 5at15fied myself that the account5 of the Company are not required to be audited utjder Part 16 of the 2006 Act and are eligible for ii)dependent examination, I report in respect of Iny examination of your charity's accounts as carried out under sectioii 145 of the Charities Act 2011 {'the 2011 Act,). In Larrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)Ib) of the 2011 Act. INdepeNdeNt examiner's sthtement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 201 l Act. I confimi that l am qualified to undertak'e the examination because l am a member and Fellow of the Asslxiation of Charity Independent Examiners. M'hich is one of the listed bodies. I have completed my examination. I confim) ihat no matters have come to my attention in connection with rhe examination giving me cause to believe Ihai in any material respect.. accountiiig records were not kept iii respect of the Cotnpany as required by sectioii 386 of the 2006 Act; or 2. the accounts do not accord with those records.. or 3. Ihe accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement Ihat the accounts give a 'true and fairf view which is noi a matter considered as part of an independent exgmination. or 4. the accounts have not beeii prepared in accordance with the method5 and principles of the Stateinent of Rt¢ominended PrdCti¢e foi accounting and reporting by charities lappliLable to Lharities preparii)g their accountg ii) accordance with the Finai)cial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have come across no other matters in conneciion with the examination to which airentilin should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Joliii O'Bt'ieii Ni IS¥, FAIA, FLCA, FCIE, employee of Coinmunity Accounting Plu5 Fellow of the Association of Charity Independent Examiners Units l & 2 North West 41 Talbot Street Noiiingham NGI 5GL Date.. 1811212023 Page 6
City Arts (Nottingham) Ltd Statement of Finaneial Attivities for the Year Ended 31 March 2023 (Ineluding Income and Expenditure Account and Statement of Total Reeognised Gains and Losses) Unrestricted funds Restricted funds Total 2023 Total 2022 Note Income and Endowments fro. Donations and legacies Charitable activities Investment income 141,238 72,719 64 141,238 162,951 64 201,950 150,395 14 90,232 Total income 214,021 J04 ?5 J i52,359 Expenditure on.. Rdising funds Charitable activities {1.124} (i45,092} {214,861) (93.889) {i08,750} Total expenditure 1214,861) (93.889) {i08,750} (i46.216} Net (expenditure)lincome Other reeognised gains and losses Gainsllosses oil revaluation of fixed assets (840) (3,657) 14,497} 6,14i 25,000 25,000 Net movement in ndS 24,160 (3,657) 20,50i 6,14i Rt¢oneiliation of funds Total funds brought fonvard 48,744 97,335 146,079 139,936 Total funds ¢arried fonvard 19 72.904 93,678 166,58? 146,079 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 19. The i)otes On pages 10 to 19 form an integral part of these financial statements. Page 7
City Arts (Nottingham) Ltd Statement of Finaneial Attivities for the Year Ended 31 March 2023 (Ineluding Income and Expenditure Account and Statement of Total Reeognised Gains and Losses) These are the figure5 for the previous accounting period and are included for comparative purposes Unrestricted Restricted Total funds funds 2022 Note Income and Endowments from: Doiiations aiid le¥acie5 Charitable activities Investment in¢ome 201,950 27,258 14 201,950 150,395 14 123,137 Total income 229,222 123,137 352,359 Expenditure on: Raising funds Charitable activities (1,124) {269.776) 11,124) (345.092} (75,316) Total expenditure {270.900) (75,316) {346,216} Net (expenditure)lincome (41.678) 47,821 6.143 Net movement in funds (41,678) 47,821 6,143 Reconciliation of funds Total lunds broughi forward 90,422 49,514 139,9J6 Total funds Carried forward 48.744 97,335 146,079 The i)otes On pages 10 to 19 form an integral part of these financial statements. Page 8
City Arts (Nottingham) Ltd (Registration number: 05181856) Balanee Sheel as at 31 Mareh 2023 2023 2022 Note Fixed assets Tangible assets 13 25,000 1,657 Current assets Debtors Cash ai bank and in hand 14 15,470 129,649 1,388 148,304 145,119 149,692 Creditors: Amounts falling due within one year 16 li,537) 15,270} Net current assets 141.589 144,492 Net assets 166,i82 146,079 Funds of the charity: Revaluation reserve 25,000 Restricted income funds Restricted funds 19 93,678 97,335 Unrestrietcd ineome funds Unrestricted funds 47,904 48,744 Total fund5 166,582 146,079 For the financial year endingl j l March 2023 the charity wa5 entitled to exemption from audit under section 477 of the Compaiiies Act 2006 relatin¥ to nall companies. Directors. responsibilities.. The members have not required the charity to obtain an audit of its accounts for Ihe year in question in accordance with section 476: and Tlie directors acknowledge their responsibilities for coinplyiii¥ with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating tl) companies subject 10 the small companies regime within Part 15 of the Companies Aci 2006. The financial statemei)ts on pages 7 to 19 were approved by the trustees, and authorised for issue on JO Novembei 2023 and signed on their behalf by.. FrclllL¢S r TrUSe The i)otes On pages 10 to 19 form an integral part of these financial statements. Page 9
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 Aeeounting polieies Sumrnary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparaiion of these financial statsments are set out below. These policies have been consistently applied to all ihe years presented, unless othenvise stated. Statement of eomplik)nee The fingncial statements have been prepared in accordance with Accounting and Reporting by Chariiies.. Statement of Recoinmended Practice {applicable to chariiies preparing their accounts in accordance with the F inancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021) {issued iii October 20191 (Charities SORP IFRS 102)), the Fillancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) alld the Companies Aci 2006. Basis of preparation City Art5 {Nottin. ham) Ltd Ineets the definition of a public benefit entity ujider FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othetTrTrise stated in the relevant accounting policy notes. Going coneern The financial stalemeiits have been prepared on a going concem basis. The tiustees assess whetl)er the use of goii)g eoneetli 15 appropriate i.e. whether tl)ere ale any material uncertainties related to events or conditions that may cast significant doubt oli the ability of the charity to coiitinue as a ¥oin¥ LonLern. The trustee5 make thi5 as5es5ment in respect of a period of one year from tl)e date of approval of the financial statements. Exemption from preparing a eash tIow 5tat¢ment The charity opd to early adopi Bulletin I published on 2 February 2016 and have therefore not included a cash flow sthrement in these financial siatements. Income 8nd endowments Voluntary income including donations, gifts. legacies and grants that prlivide core funding or are of a general naiure is recognised when the charity has eniitlement io ihe income. li is probable thai the income M'ill be received and the amouni can be measured wilh sufficieni reliability. Donations are recognised when the charity has been notified in mlting of both the amount and settlement date. lil the event that a donatioii is subject to conditions that require a level of perfonnance by the charity before the charity is entitlcd to the funds, the income is deferred and iiot recognised until either those conditions are fully et. or the fulfilment of those coiiditions 15 wholly Th'ithin the control of the charity. and it is probable that these conditions will be fulfilled in the reportin¥ period. GruNts reeelv4ble Grants are recognised when the charity has an entitlement to the funds and any conditions linked ro the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and incliided on the balance sheet as deferred income to be released. Page 10
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 IIiwE5tmenlincome Divideiids are recogni5ed once the dividetjd has been declared and notification ha5 been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure. it is probable settleinei)t is required and the amount can be measured reliably. All costs are allocated to the applicable expendilure heading that aggregate similar costs to that category. Where costs cannot be directly attrIbUd to particular headings they have been allocated 01) a basis consistent with the use ol. resources. w'ith central staff Losts allocated on the basis of time spent. and depreciation charges allocated 01) the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Rai.suigfunds Thes¢ are costs incurred in attrarting voliintary income, the management of investments and those incurred in trdding activities that raise nds. Chtsrlttsble aeilvliles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneliciaries. It includes both costs that cai) be allocated directly to such activities and those costs of an indirect i)ature necessary to support them. Taxation The charity is CL)nsidered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act ?010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the chariry is poientially exempt from taxation in respect of income L)r capital gains received within categories covered by Chapter i Part I l of the Corporation Tax Act 201 O or Section 256 of the Taxatilin of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costillg £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. DepreciutioN and afftvrtisatiu Depreciation is provided on tangible fixed assets so as to }TIte off the cost or valuation, less any estimated residual value, over their experted usefvl economic life as follows.. Asset elass Computer equipment General equipment Leasehold improvements Depreeiation method and rate 33.3 /0 on a straight line basis 33.3 /0 on a straight line basis 25 /0 oli a straighi line basis Page 11
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 Trade debtors '[ radc dcbtor% ar¢ amounts due from customers for merchandise sold or services perfomi¢d in th¢ ordinary ¢ourse of biisin¢ss. Trade debtors are recognised initially at th¢ transaction price. They ar¢ subsequently measured at amortised ¢ost using the effectivc iiiterest method, less provision for impaimient. A provision for the impaimient of trade debtors is established when there is objective evid¢nc¢ that thc charity M'ill not be able to Collert all amounts due according to the origFinal tern]5 of the receivables. Cash and cash equivalents Cash and cash equivaleiits comprise cash on hand and call deposits, and other short-temi highly liquid investmeiits that are readily convertible to a knowi amount of cash and are subject to an insignificant risk of changFe in value. Fund structure Unrestricted income funds are gerteral funds that are available for use at the trustees, discretion li) furtherance of the objectives of the charity. Restricted inclime funds are those grants for use in a particular area or for specific purposes. the use of which is restricted to that area or purpose. Pensions and other post retirement obligation5 The charity. operates a defined contribution pension scheme for employees. The asseis of the scheme are held separately from those of the charity. Pension cosis charges in the Statement of Financial Activities represent the contributions payable by the charity during the year. 2 Income from donations and legaeies Unrestricted fund5 General Total 2023 Total 2022 Donations and lega¢ies: Donations from individuals Grants. including capital grants., Govemment grants Grant5 froni other charities 3,212 3,212 2,704 19.315 19,315 196,321 2,925 141,238 141,238 201,950 Page 12
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 3 Income from eharitable activities Unrestricted Restricted fund5 Total 2023 Total 2022 General Grants & donations Fees & commissions Programmes & activities Facilities & resources 90,232 90,232 63,422 360 8,824 123,137 20,010 63,422 360 8,824 7,014 234 Other incoine 72,719 90.23? 162.951 150,395 4 Grants & donations Unrestricted Restricted fund5 Total Arts Council Englalld British Council Gedling Borough Council Grocerg, charity J N Derbyshire Nottingham City Council Small Steps Big Changes Sundry donations 79,232 1,000 79,232 1,000 4,600 1.000 19,315 i 0,000 3,212 4.600 I,(x)o 19,315 i 0,000 3,212 141,238 90,232 231,470 S InveStent income Unrestricted runds General Total 2023 Total 2022 Inierest receivable and similar income; Interest receivable on bank deposits 64 64 14 Page 13
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 6 Expenditure on eharitable activities Unrestricted Restricted fund5 Total 2023 Total 2022 General Project costs Project salary costs Depreciation Staff trdwel & subsistence Premises cost5 14,949 33,960 31,625 48,909 31,625 1,657 857 91,960 8,588 2,317 452 1,657 557 23.377 ?,297 15,583 7,327 126,838 23,377 2,?97 43,887 7,327 126,838 30,992 2,327 981 Office costs Professional & consultancy fees Insurance Other wages, Nl & pensions Bank charges Accounting & payroll Refreshments Organisational Development Sundry payments IT & Climmunications Board costs Marketing 28,304 6,340 18? 719 366 3,323 524 8,058 2.455 289 4,815 50 8,257 470 2.019 3.500 2,455 289 4,815 50 8,257 470 2,019 3,500 i,112 960 214,861 93.889 i08.750 345,092 7 Net in¢omingloutgoing resources Net (outgoingyincoming resources for the year include". 2023 2022 Depreciation of fixed assets 1,657 2,317 8 Fees payable to independent examiner During the period. the fees payable (excluding VAT) io the charity's independent examiner Community Accounting Plus are analysed as foll0lS.. 2023 2022 Independeni examiiiation Otlier financial 5erviLe5 975 903 930 1,806 1,878 2,7)6 Page 14
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 9 Staff eosts The aggr¢gat¢ payroll costs were as follows.. 2023 2022 St8ff £0s¢s during the year were: Wages and salaries Social security costs Pension costs 149,447 6,145 2,871 177,128 10,567 3,612 158,463 191,307 The monthly average number L)f persons (including senior management team) employed by the charity during the year was as follows.. 2023 No 2022 No Average number of employees 612022- 7) of the above employees participated in the Defined Contributioii Pension Schemes. Contributions to the employee pensioi) heMeS for the year totalled £2,871 (2022 £3,612). No employee received emoluments of more thgn £60,000 diiring the yew. The tothl employee benefits of (he key management personnel of the charity were £68.374 {2022- £65.280). 10 Trustees remuneration and exp¢ns¢5 No trustees. nor any persons connected with them, have received any remuneration from the charity during the }'ear. No trustees have received any reimbursed expenses or any other benefits from the charity diiring the year. I l Taxation The charity is a registered charity and is therefore exempt from tsxation. 12 Charity status The charity is a company limited by guarantee and consequently does i)ot have share capital. Each of the trustees is liable to contribute an amount not exceeding £ I towards the assets of the charity in the event of liquidation. Page 15
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 13 Tangible fixed assets Computer equipment General equipment Leasehold improvement5 Total Cost At l April 2022 Revaluaiilins 14,371 108,026 25.000 5,284 127,681 25,000 At i l March 2023 14,371 133,026 5,284 152,681 Deprceiation At l April 2022 Char¥e for the year 12,714 1,657 108,026 5,284 126.024 1,657 At i l March 2023 14,371 108,026 5.284 127,681 Net book value At 31 March 2023 25,000 25,000 At 31 March 2022 1,657 1,657 14 Debtors 2023 2022 Trade debtors Prepayments 13,141 2,329 1,388 15,470 1,388 15 Cash and cash equivaleNt5 2023 2022 Cash on hand Cash at bank 129,539 148,304 129,649 148,304 16 Creditors: amounts falling due within one year 2023 2022 Other tsxation and social securiry Other creditors 2,367 1.170 3,449 1,821 3,537 5,?70 Page 16
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 17 Obligations under leases and hire purehase eontraets Operating lease commitments Total future minimum lease payments under nL)n-cancellable operating leases are as follows.. 2023 2022 Land and buildings Within one year Between one and five years 14,000 14,000 40.8i3 40,833 54,833 18 Related party Iransaclions There were no related party transactions in the year. 19 Funds Other reeo2nised gains/{losses) Bulanct at 31 March 2023 Balance at I April 2022 Ineoming resourees Resouyees expended Unrestricted fuDd5 Generul General fund 48,744 214,021 (214,861) 47,904 Restricted fuNd5 ArtPloyineiit Elevate Project Poetry on the Go Hoopla ISSBC) Residence (Arts Council England) Blue to Green 125.401) (1,655) 122,007) 110.000) 8.978 ,655 14,508 10,000 79,232 10,000 71,733 i 0,000 16,338 20.455 113,371) 121.455) 2,967 1.000 Total restricted fund5 97.335 90.?32 193,889) 93,675 Oiherfund.s Revaluation reserve 25,000 25,000 Total funds 146,079 304.253 (308.750) 25,000 166,582 Page 17
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 The specific purposes for which the funds are to be applied are as fLIIIows'. ARTployment 12021 2023).. Funding from Erasmus+ to deliver a creative skills and career development programme for young people from different couniries, in collaboration with intemational partners, including both European and South American organisaiions. Elevate Project.. supported by Broadway's Near Now programme, The Prince's Trust and Big House, Elevate was a programme of skills and career developmeni for young creatives taking non-tradiiional routes into the arts. Poetry on the Go (PoGo).' Funding from Ergsmus+ to collaboratively develop a smartphone app exploring and celebrating poety from different cultures, working with international partner organisations and young people in their respective home countries. Hoopla- funding from Small Steps Big Changes {SSBC)- this project aimed to bring bespoke outdoor festivals for families with early-years children to COTnmunities under-served by the city's culmral offer. Residence an artist development project funded through an Arts Council England project ¥rant, Residence aiined to 5UPPOrt disabled artist5, black artist5 and artj5ts from comrnunities lowly ranked for socio<conomic Status in the developrnent of their ski115 and career5. Blue to Green- funded by Nottinghain Community and Voluntary Service s Greenspace prowinme, the Ji&iT aw Foundatioi) and Noiiinghamshire County Council's Covid Partnership Recoverv Fund. Blue to Green provided a series of participatory art workshops to Nottinghani and Nottinghainshire residents to support niental wellbeing. Bulance at I Incoming Resources Balance at 31 April 2021 res¢Trurces expended March 2022 Unrestricted funds Generffil Gejieral fvnd 90,422 229,222 {270.900} 48,744 R¢5tri¢ted Express Yoiirself ArtPloyment YL)ung Producers (Junction Arts) Foyle Foundation Elevate Project Crtate to coni)tct Poetry 011 the Go Hoopla ISSBC) Residence (Arts Council England) Blue to Green 8,870 18.870} (2,80)) 13,000) (5,863) (345} (28,928) (19,401) 37,182 34,379 3,000 5.863 2.000 28,928 27.440 10,000 ,655 6,469 14,508 i 0,000 22,419 20,480 16,081 } {?5} 16,338 20,455 Total restrieted lunds 49,514 1?3.137 (75,316) 97,3i5 Total funds 139,936 352,359 {346,?16} 146,079 Page 18
City Arts (Nottingham) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2023 Last year there were also the following restricted funds.. Express YouT5elf INottin¥hamshire LIS) contribution toward5 revenue costs of a programme of creative opportunities for }'oung people that M'ill focu5 on einotional well-bein& attainment, skills developinent and increasing young people's contributioii to Civlc Society. Young Producers - Our Place project.. supported by fui)ds from Junetion Arts, this project gave our Young Produceis group the opportunity to produce creative work celebrating the people and places of the East Midlands. Foyle Foundation - to support the Sneinton Stirred Up festival and work as part of Noitingham Puppet Festival. Create to Conneci - supported by DCMS funding administered by Arts Council England, create to Connect aimed to address social isolation among over-55s ihrough a programme of online creaiive workshops. 20 Analysis of net assets between funds Unrestricted Revaluation reserve 2023 Total funds General Restricted Tangible fixed assets Current assets 25,000 25,000 145,119 13,537) 51.441 (i,537) 93.678 Current liabilitie5 Total iiet as5et5 47,904 93,678 25,000 166,582 Unrestricted 2022 Total funds General Restricted Tangible fixed assets Current assets Current liabilities 1,657 52,357 (5,270) 1,657 149,692 15,270} 97,335 Total net assets 48,744 146,079 Page 19