Registered number-. 05280336 Charity numbèr.. 1108488 HMM ARTS LTD UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 WR Partners Protecting your fuftjre.
HMM ARTS LTD IA company limited by guarantètrl CONTENTS Page Reforonce and adrninistrative det8i1s of tho Company. It$ Trustg8s and advls•rs Chalrman's statement Trusteos. report Indep•ndtnt èxamlnér's rèport Statement ol flnanclal activilies 3.10 13 Balance shegt 14-15 Not88 to th• flnanclal statements 16-32
HMM ARTS LTD IA company limtted by guarante•) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trustees H Ball. Chair N J Green M J W Gnlfilh5 J Lloyd-Jones. Chair Iresioned 11 April 20231 H O'connor PMWPack G J Partridqe13ppoin¢ed 4 May 20231 E L Richards Iresiqned 21 September 20231 N SL4wson J H Thoma5 O Voropai {appointed 26 Septerrt)er 20231 Company r•gist•r•d numbér 05280336 Charity reglst8red numbèr 1108488 Reglst•r•d offle• 5 8almont Shrewsbury Shropshire SY1 ITE Chief executlve ottlc8r Stephanie Kale Jennings Accountants WR Partngrs Charlered Accounlants Belmont House Shrèwsbury 8usinèss Park Shrewsbury shropstrrC SY2 6LG Bankers CafBank Limited PO Box 289 West Malling Kenl ME194TA Soli¢itors Halchèrs 25 Castle Slreet Shrewsbury Shrop5hire SY1 1DA Page 1
HMM ARTS LTD {A Company limit•d by guarante•l CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2023 The Chair present5 her statemtrnl for thè year. The Hive op8r81es undgr th8 auspices ol HMM Arts Limited and provides a safo space for young people to develop their creative skills. The facl that over 45,000 young people have benefitted from tha work of The Hivo over the last 18 years struws the 1gVg1 ol valutr a facility like this brings to the cukural com ol Shr6wsLIury, Shropshire. and Telford S WrekiTr. Projects this year have extended the boundariès and capabilities of the Hive in providing the opportunity for many lo contribute to some really mganinglul activily. The Hidden Walerways Project h35 produc8d some stunning lasting art wilhin a cerarnics Irail that will enjoyed by many who frequent Shropshire's canals. The Out ol the Groove Music Projcct. My College and Cuttural Inve5kn"galors Projecls have really expanded the skills, compelencies. and confidence of all those young people have taken part. The Buzzy B88t5 and Parachutes projecls have lacililaled crealive, musical aclivilies for the undèr 5s and their paronls. Whilst many ol our projects have been fun one in particular slands out as IngIng lile expenencès lo th8 fore In a very 8rtisli¢ and creative way,. Our Footprints. Our LIv8s. Our D83th project saw a Trumber of homeless c118nts ol the Shrew$bury Ark axplorè Iheif attitudes to and experiences of dealh and gri$1 using the mediums of print and poetry. These projècts could not have been possiblo withoul our dedicaled team headed up by Chief Executive Offi¢&r Kale Jennings. From the Venue Manag6r to Duty Managers. Project Managers & Adrninistralois to Finance and Marketing Officers all have engendered a collective welcorning. positive, and C8n-Do attilude lo belng part ol the Hive Family and their energy and resourcefulness Is a credil lo th8 organi$81ion. The Trustees loo, charged wilh the slralegic management and pvem8nce ol the cffganisation have actively conlribul8d to 8n5uring projocls havo mel their oulpuls. resources have been spent In Ihe mosl appropriale and efficieFTt way and havè us811 Ihè skills thèy ha to bring exceptional value to (he organisats'on. We are also so gr8leful to our Patron, Charlie Adlard. who has beertr hugely supportive of our acts'vities and has spread The Hiv$ mèssage wilh such pde and commitment. Bul managing 8 Chanty wilh a huge portfolio of proi8Cts wthin a base in Ihe Shrewsbury Town Centre comes with challenges. We wcre so dis3PPOinièd that we were unsuccessful with the Atts Council England Invogtment Programme. but we have conlinued to source olher frjnding streams. The reality however is that more and more arts.based org8ni58lions 8re se8king every decreasing grant fun¢Js. Our finances are proving challenging. bul we do what we b8li8ve is right for lUtU of the offjanisalion. This has Involved having an away day to review our strategic plan helping lo shape our dI¢tn. Thi5 report provides a valuable snapshot of Ihe Hive. of Peoplè. Placè and Pfojècis and w8 look forward lo continuing wonderful, crealNe work for years lo come. Chair ol Trustees Date. 1112121 Page 2
HMM ARTS LTD (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trvst8es présènt thèir annual report together with the financAI statemènts of the Company for tho year 1 April 2022 to 31 March 2023. The Annual report serves the purposes of both a Trustees. report and a direettsrs, report under company law. The Trustees confirm Ihal the Ann(Jal report and financial statements tsl the charilable company comply with the current Statutory qUIreMen1s. the requirements of the charilablo company's governing docurnenl and Ihe provisions of the Statement of Recommended Practice ISORPI applicable lo charities propanng their acrxjunls in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ir8land IFRS1021 {8ffective 1 January 20191. Since the Company qualifies as small under seckn'on 382 of the Cofflpanies Act 2006. th8 Strategic report required of medium a largè c(ynpaniès under the Companies Act 2CQ6 IStralégi¢ Rèport and Diractors, R6POrtI Regulations 2013 h85 bgon omitted. ObJe¢tlv¥$ and Jctlvltl•s Pollclès and obS•ctlv•s Our Purpos• The Charitable Company's Purpo 8r¥ set out in tha objects conlained in the Memorandum and Articles ol Association are.. "lo advance education in the arts by tr &slablishm¢nt aThJ maintenance ol an arts centre for the benefit of childron and young people." Our Vlslon HMM Arts Limit&d's vlslon Is.. Thrtving creatsve communities. Our Mlssion The Hive provides a safe path to personal and community growth. Our proigcts and events transform lives thfough Inspiring, inclusive. creative oxpeiiences primarily in Shropshire, Telford & Wrékin and beyond. Our Strateglc Prior5ties To pioneer high quality creative activities To showcase the impacl of creativity lo heallh and wellbeing To creato an inspiring, safe. and effective organisation. Our Valuès Our working culture Is led by the following value3: Non-judgmèntal - we focus on the wjtential and opportunity. with an open mind and focus on diversity Comrnunity-cenlered - we Ictus on n(Jrturing bekinging Collaborative we focus on sharing and beirbg stronger tther AdventUlOU5- we locus on leaming. experirnenting. and challenging o¢Jrselves (o do new things Ernpowering- we enable meaningful, pwlive change Page 3
HMM ARTS LTD
{A company lirnitsd by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR E14DED 31 MARCH 2023
Objectiv•s and aetlvltles Icontlnuedl
Key Growth & Dev•ltspmènt Alms
. Aim 1. Mor8 Peop18 - Reachiny more and new people and working in new w8ys with Ihem
Aim 2.. More Stability- maintain and increase financial stability and surplus
. Aim 3.. More Profile - Tecognised an
HMM ARTS LTD IA cornpany limit8d by guarant••l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Oblectlves and actlvltles Icontinuedl b. Strat•gl•s for achlèvlng obj•ctiv•s The Charity seeks lo achVe these objeclives through activities that include". Projects focusing on dolivering social Impacl through crealive and arts aclivity Providing opportunitie5 for skills devolopment arhd eduGalion through creative 8Ctivity Artislic programming and audience devolopment Providing creative laalities and outreach opportunities Partnership working and sector devek)pmenl The Tfustees review the aims. objectives. and activities of Ihe Charily each year. This report looks at what the Charity has achleved and the outcomes of its wryk in the reporting period. The TnJstee5 report the success ol each key acliviiy and the benefits the Charity has brought lo Ihose groups of people it Is sel up to help. rhe review also halps thè Trustees lo ensur& that the Charity s aims, objecliv&s. and activities mained focused on ils slaled purpose. Th8 r8mainder ol the annual re1 covers Ihe activities In mor6 deiail. Arts Council England (Project Grants.. Cultural Investigalors. and Supporting Gras5rools Music,. Hive Young Programmers.) Children In Need IParachutes and Boosler Granll National Lollery Herilago Fund IHiddcn Watcrwaysl Shrewsbury BIO Isummer A¢livities Fund., Sireet Festival) Shropshire Co(Jncil Virtval School ILooked Aftèr Chiklran's Bandbul projects, Shining S18rsl Shropshirè Council IArts Fund and HAF Grant) Shrewsbury Town Council Icommunity Grani and Local Councillor's Grant) Slaffordshire Community Foundation (Street Feslivall Thc Nalional Lottery Community Fund IMYCollege and MYC Music) The National Lottery Herilage Fund (Hidden Waterways) In selling obj&¢tives and plannin9 lor aetivibes, the Trustses have gwen due consideratron to general guidance published by the Charily Commission relahng to pubk benefit, including the guidance'Public benefit.. runlling a charily IP821'. Page 5
HMM ARTS LTD IA eompany limited by guarant••) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Achievements and performance a. Maln a¢hlov•m¢nts ol thtr Company Following the Covid19 pandernic prompknng a movè to online delivery for a largè proporbon of our projects, The Hive has rnc>ved back to in-per50n delivery of <MJr projects. both in-house al our venue, and outrèach in othèr vènuès. We havè bèen encourage(J by thè support of tyjr audiencès, and In thls period thè interest in both audiencè attgndaneo a1 room hire has Increased to and al tsmes. surpassed preadeMiC levels. Successfully delivering creative projects woss a range of art lorms to the benefit of children. young people and young aduns Irom challenging circUmstar•S induding young Garers. l¢)oked after ohildren. young people with mental heallh issues. NEETS. thos¢ at nsk of offendirng. young adult asylum seekers. LGBTQ+ young people, and rurally isolale¢J young people. These projects were delivered in partnership with Shropshir8 Council, Shrewsbury Town Council. Tetrord & Wrekin Council. New Reflection5. Telford Young Carers. Shropshir8 Virtual Schools, shreVbUry Colleges Group. Shropshire Aulism Hub, Shfewsbury University Cenlre. Shropshira PACC. The Childfen's Socioly. Tellord College. Be$ Lilehouse. and Shropshire Youth Association, among olhers.ln addition lo this the Chanty has a150 provided non grant funded services lo organisalions working with vulneiable groups. especially childn. young people. and young adults. Support from Shropshire Council Arts condnued within this period, Providlng fiJn(Jlng for the Our Fooipnnts, Our Lives. Our Deaths project. In partnership with homeless people from across Shrewsbury and surrounding areas through The Ark, another local charily. The projecl expk*red the Invisible and unheard slories Irom ihe horne5$., working with professional artists people expenencing homelessness worked creatively to oxplore their Ihoughls 8nd views around d6alh and dying to develop artwork with poetry. Arts Council England - our Cultural Invesligaiofs woject gained momentum during this period, bringing in numerous proie¢l partn¥r organi$8lions and linking with whorts of young people and Individuals who have 811gnded aclivit1è9 at Thè Hivè and havè gone on to have successful careers in the cre8ts.ve induslries. All projects have Included opporlunilies for skills developmenl and leaming. which ensures the 51aff team and creative workforc& ke8P their Iralning upt<Hlal& al have Ihè opportunity to share bèst pracllc8 with Ihelr peers. Develllping the vision and mission. The Board and staff team continued lo revislt our vision, rnission, and stralcgic aims from the 2021.2024 business plaN. The CEO is applying lor funds lo contract an experienced arts consultant and coach lo work on the next busin&s5 plan. and also lo 18alila¢c sessions with Iho team and Board, lo guide Ihrough slages of reviewing Ihe new business plan and help with tracking progres5. Developing The Hive's Trustee Board. In Icx)kJ'ng to place these boartl members the CEO and Board Chair have discussed skills that were felt lo be reeded lo cofflpFimenl Ihe current board members and help develop Ihe charity. Recruitment during the Covid pandemic was chall8nging. Mt successful. The organisalion is working towards recruitrnent of a young Board rnember and ensuring our governance Is more representative of a conlemporary United Kingdom in relation lo disability. r. and socio-economic background. Over the reporting period we provided numerous opportunities al the Hive for children and young people, Including holiday 8rtJcraft, filmmaking. and musicmaking workshops. and Buzzy Beats.. our weekly musicmaking session lor under 5s. In this period. The Hive conlinued lo empkjy a young person as Venue and Projects Assistant who originally joined The Hive as an Intern through the DWP Kickslarter initiative. Page 6
HMM ARTS LTD IA company limited by guarant•el TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Flnancial revlew a. Going concern After making appropriato onquirie5. Ihe Truslees have a reasonable expeclalion that the Company has adcquale sourS lo continu& in operation81 exisl8nc8 for the foieseeable future. Foi th15 rea50TI, they continue to adopt the going concem basis in preparing Ihe financial slalernonts. Furthar dètails regarding tho adoption of the going concern basis can be found in the accounting policies. b. Ros•rves policy The income of the charity is divided into designated. restricled. and general lunrestncledl funds in accordance with Charity legislab'on. The restricted fund represents money gwen to the organisation for specifiG project or strategic work. The Trustees, policy in rèsp•ct of the moniès held in the General lund is influenced by.. lorècasl ol levels ol income in the ènsuing year. lorec8sI lor expènditure in th• ensuin9 yéar bas8d on planned activity,. and an analysis ol any ltsture needs. opportunities, conbThJencies and risks. the efiects of which are not likely to be mèl from plannad èxpenditurè. Thè Stalernenl ol Fin8n¢ial Aclivit18s shows that the total funds of the chanty have decreas8d during the year due 10 a not loss of £71,094. bnnging total rèsèrves to £135.58412022.' E206.6781. The charity aims lo hold eTh)ugh free reserves to covar &6 monlhs. wcffth of average expendilure. The free reserv&$ 8r8 the unrèstrictéd funds less any unrestrictèd fixed assets and any designated funds. At the end ol the y*)ar the free rèservès stood at t28.74412022.' £59.9621. Structurn, gov•manco and manag•ment ConstStution HMM Arts Ltd Ss ragistaTèd as a charitable company limited by guafanlee and was set up by a Mernorandum ol A$so¢iation datgd 8 November 2004 and as amended by a resolution on 6 May 2008. It is registered as a chanty wrth tha Charity Commission. Each of the Tnjstees of the company agree to contribute £10 in the event ol the charity winding up. The Board of Trusteès meèt on a rular basls. The Trustees ¢Jelega(e ihe day to day running of the company to the Chief Ex8cutive orricer. Page 7
HMM ARTS LTD IA company limitèd by guaranteè) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Structure, governance and mana9•ment leontlnuedl b. Mèthods ol appointmgnt or •le¢tion ol Tru$t••s Members of the Board ar8 èlected at Board meeting5. T1 Board has authority to fill vacancies arising during the y&ar. New Board Mernbers arè r8cruil8d through eith8r an cpn process. advertised throughout the region, or nominated by partner organisalions. Potent1 recruits are interviewéd by existsng Board Members, and if successful, are elecled to the Board at tho n&xi Gen&ral Meetirw although Ihey b& opt8d lo the Board untll thén. New Board Members will undergo a formal induction proce55 and will be supported through the first few months ol mambership. Organisatlonal slru¢turè and d8clslon•making poll¢ies The Board of Truslees administers the tharily. The Board holjs b. monlhty 808rd m8Étings throughout the year. There Is a Finance Subcommittee cornprising ol Chief Exocutive. Management Accounlanl and NYO Board members, which meets ahead ol every Board meeling and reporfs lo ¢he 808rd. Financial procedures have been eslablished and appmved by the Board. They are intènded lo set out the working arrangernents by whKh the Board gives eifect lo Ils stalutory financial re5tx)nsibililies, 8nd to ils management power5 as defin¢d in the Arte8 of Association. The Chief Execulive is SpOnSIbl& to the Board for the proper administration of the Company's financial affairs. HMM Arts Ltd is a mernber of the National Council for V(Auniary Organisalh)ns. with which il cooperates In th8 pursuit of ils charitable obiectivès. d. Financial rl$k manag•mont The Board reviews and assesses Ihè risks to which the organisats.on is exposed at each 8oard meeling. The Trustees ensure that the managemgnt ol risk in ongoing and embedded In management operalion81 proc8dures. Risk assessment and management 15 undertaken under the following are85.' Governance Operational Exlemal Factors Financial Compliancè Staffing and other human resources Environmentsl The Trustees are sat1sfi that systems and procedures are in place to manage the exposure to thèse risks. Page 8
HMM ARTS LTD IA company limited by guarante•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Plans lor luture perlods We wll further deveknp our bu5ine55 piqn. induding fundraising, strategic development, and programme develowent. We continue to work and develop programmes of activity wth Partne in Shropshlra, Telford & Wrèkln, and the wider regTr. Wè wll be al the forefront of discussions and negolialions around ¢ommissioned Se1¢e5 and will dèveltsp slralagiès lo ensure that we can continue & develop our delivery lo b8neliGiarie5, as well a5 identify new ways of working. We will ¢ontinue lo strengthen our connectkjns with the local communilies surrounding The Hive In Shrewsbury and Shropshife. embedding the WO ol the Chanty and its base firmly within the ¢ommunity ag an 8tllv8 and wèlcoming hub for the community. . Vle will be represented on Ime Shropshire CLAlural Compact Board by the CEO. We wll dèliv8r Vibrant Shropshife, Ihe county's cullural strategy, to help ensu that culture thrives in Shropshire and enhances th& ¢ounty's health. wellbeing. resilience. economic pr¢spèriiy. and environmèntal SUStainabilily. We wll further dovelop and embèd our lundraising slrategy in line wlh our business objectives as well 8$ the addilion81 SUPFK>rt Irom Trustèès. Wè wll also conb'nue to upskill our Trustees and Staff in fundraising 5ki115 10 enable the organisation to devekjp new income str8ams and increase our succe55 rate wth lundiaising from trusts & loundation5. We will work in p8rtnershlp with Music Etjucalion Hubs In the region. We will furth8r devolop our partnership workin9 With existing partners. as well as crealing new partnerships especially with agencies and charities working wlh children and young peopb. high quality arts organisations, commissioners, local businesses, an(J thostr working wilh children & Yng p8ople. We wll consolidale our position as a pr(>JeCl delivery provi¢Jer of Youth Music acliwly across Shropshire and the region. We will work with our partners lo ensure that children, young people. and young adults are able to access music activity across thg county- parliculaity th¢)se who are vulnerable or at risk- working lo principles of peoagogy In Ihe delivery ol music prografflmes. We will continue to work wilh Arts Courbcil England to support ongoing development ol our evaluation framework, enabling u5 to engage wilh new project partners and participant groups and io bring highqualily arts to the region, our venue and lo our beneficiaries. We will further devdop opportunities for chikJreN, young peop*, and young adults lo develop their skills and knowledge through crealive activity. as well as provide opportunitses to develop Ihese skills even further through volunteering. inlemship. and work experience OPFK)rturbitl85. We hMII conlinuously evaluate our activities using The Hivè's Evaluation Framewoth. as well a% consult our beneficiaries. pariicipants. and audiences lo ènsure that we are meeting their needs and can cale an ewidence base to support our work. For all our creative activity. the charity will continue to wotk to specilic aims built around 5 dimensions ol empowerment, which consider both Individual and the ccAlective. Page 9
HMM ARTS LTD IA company limited by guarantee) TRUSTEES. REPORT ICONTINUED> FOR THE YEAR ENDED 31 MARCH 2023 Statement of Tru5tees' responsibllltlès The Tru5tee5 (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and Ihe financial stslements In accordance wilh applicable law and Unil8d Kingdorn Accounting Slan¢Jards Iunlled Klngdom Generally Accepted Accwnting Praclice). Company law requires the Trustees lo prepare financial SlatemlS lor èacj) financial yèar, Undèr company law, the Trustees musl not approve Ihe financial 5talemenls unless they are satisfied Ihai they give a true and lair view ol the slate ol affairs ol the Company and ol ils incoming resources and appliGation of resources, including Its incorn& and gxpendittsr•. for that period. In preparirrfJ these financial sta¢ements. the Trustee5 are required lo.. select suitable accounting policies and then apY them con515tenl1y'. observe the methods and principles ol the Charityes SORP {FRS 1021". make judgments and accounting estimates that are reasonable and prudenl". stale whether applicable UK Accounting Standard5 IFRS 1021 have been followed, yubject to 8ny material departures ojisclosed and explained in th8 financial statemets. prepare the financial stalernents on the going concem basis unless It 1$ inappropriate lo prtr$um¢ thal the Comp8ny will contlnue in business. The Trustees are responsible for keeping adequate ac¢ounling reo)rds that are sufficient lo show and explain the Company's tr8nsaclioiis 8nd disclose wr(h reasonable accuracy al any lime Iho financial position ol the Company and enable them lo ensure Ihal the f1nancial 51alements comply with the Companies Acl 2006. Thèy are also responsible lor safeguarding Ihe asset5 01 ihe Company and hence for taking roa$on8ble steps lor th& prevention and delectson of fraud and olher irregui8nties. Approved by order of the membefs ofthe board of Trus*es and signed on thoit bghall by.. (Chalr ol Trusleesl Date. i11212S Page 10
HMM ARTS LTD IA company lirnttsd by guarante•l INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 Independent examinerfs report to the Trustw$ of HMM Arts Ltd h• Companll I report to the charity Tru5te8s on my examination ol accounts ofthe Company for the year ended 31 March 2023. Rèsponslblllti•s and basss of rèport As the Trustees ol the Company land Its directors lor the purposes of company lawl you are responsib18 for the pieparalion of the accounts in accordance with the requirements of the Companie5 Act 20061.the 2006 Acl'l. Having satisfiod myself that Ihe accounts of the Company are not required lo be audited under Part 16 of th 2006 Act and are eligible lor indepondcnt examinalion, I report in resLI of my exafflinalK)n of the Company s accounts carried out under secbon 145 01 the CharilEs Act 2011 1.the 2011 Acl'l. In carrying out my gxamination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. P8ge11
HMM ARTS LTD A company Ilmited by guarantw) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Independent oxaminerf$ statement Since the Company's gross income exceeded £250.000 your examiner musl be a rnember of a body listed in section 145 01 the 2011 Act. I confirm that l am qualrfied to undertake the exarnination because l am a member of ACCA, which is one ol the listed bodies. I have completed my examinatK>n. I confirm that no matter5 have come to my attèntion in connection with th& examination giving me cause lo believe.. accounbr¥g rècords w8r8 not kèpt in rèspèct of the Company as required by seclKJn 386 01 the 2006 Act,, or th8 aecounts do nol accord with those iecords.. or the accounts dc* not comply with the accounting requirements tsf section 396 of the 2006 Act other than any requirement that the accounts give a Irue and fairf view which is not a maller considered as p3rt 01 n independent examination.. or the accounts have not been prep8red in accordance with the methods and pnnciples of thè Slaiemènl ol R8comm8nded Practice for accounting and reporting by charities lapplicable lo charities preparin9 their accounts In accordance wilh thg Financial Raporting Standard applicabla in th8 UK and Republic ol Ireland IFRS 10211. I have no concems and have come across no other malters In connection with the examination to which 8llention should be drawn in this report in order io enablè a proper undarstsnding of Ihe 8ccounls 10 be reached. This report 1$ m8d8 solèly to Ihè Company's Trusleès, as a body, in accordanco with Part 4 of th8 Charitios (Accounts and Roports) Regubtions 2008. My woth has been undertaken so that I might slate lo Ihe Company's Trustees those m8llers l arn roquired lo stalè to them in an Independent examiner's report and for no other purpose. To the fullest cxienl permitled by law. I do not accept or assume responsibility to anyon8 other than the Company and the Comp8ny'5 Trustees as a body. lot my work or f th report. Signed.. T Lunt Dated. 1411212023 BA FCCA MIRPM WR Partn•fS Chartered Accountsnts Belmont House Shrewsbury Businèss Park Shrewsbury Shropshire SY2 6LG Page 12
HMM ART5 LTD IA company Ilmlted by guarant•el STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2023 Rèstrict Unrestricted funds funds 2023 2023 Total fund5 2023 Total fiJnfSs 2022 Not• Income from.. Donations and legaci•s Charitable activities Other trading acliv*li&s Investments 13.364 144.408 13.442 26.806 144.408 84.083 277 84,62Q 206.559 46,949 84,083 277 Total Income 157.772 97,802 255.574 338. 139 Exp•nditur• on- Raising funds Charitable activities 16.225 117.110 16.225 310,443 4,779 327,345 193.333 Tot31 •xp•ndltur• 193,333 133.335 326.668 332, 124 Net mov•rn8nt In funds {35.5611 135,5331 171,0941 6,015 Reconclllatlorb of funds.. Tot81 funds brought forward Nel movement in funds 124.840 (35,5611 81.838 {35.S331 20fj.678 171,0941 200.663 6.Q15 Total funds carrl•d fonvard 89,279 46,305 135,584 208,678 The Statement ol financtal activities includes 811 gains and lossas recognised in the year. The notes on pages 76 to 32 form part of these financial ststements. Page 13
HMM ARTS LTD IA Company lirnited by guarant•tl REGISTERED NUMBER.. 05280336 BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Not• Flxod ass•ts Tangible assels 31.225 35.116 31.225 35,116 Curr•nt ass•ts Stocks Debtors C8sh al bank and in hand 14 15 1,590 31,995 86.769 1.569 12,662 180.930 120.354 795, 161 Crgditors. amoun1$ lalling duè wKhin year 16 11S,9951 (23.5991 Net current assets 104,359 171,562 Total ass•ts l•ss curr•nl Ilabllltiej 135,$84 208,678 Total net ass•ts 135.584 206,678 Page 14
HMM ARTS LTD IA company limited ty gU3ranteel REGISTERED NUMBER: 05280336 BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2023 2023 2022 Notè Charity funds R95tn¢led funds Unrèstricted funds 17 89,279 46,305 124.840 81,838 17 Total funds 135.584 206,6T8 The Company was enlilled to exemption frorn audil under stiction 477 ofthe Companles A¢t 2006. The members have not required the company to obtain an audit lor the year in question in accordance with seclion 476 01 Companies Act 2006. The TrtJsl8è$ aCkno%edge their responsibilities for COmp.ng ¥wlh the requirernents of the Act wih respect lo accounting records And prèparalKJn oi financial statements. The financial stalemènis have been prepared in accordance wth Ihe provisions applicabl8 to entities subject lo the 8m811 ¢ompèniès regime. The financial slatomgnts were approved and authorised for issue by Ihe Trusteos and signed on their b8half by.. Ichair of Trustees Date.I1121z& The notes on pages 16 to 32 form part ofthèsè financial statements. Page 15
HMM ARTS LTD IA eompany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 G•n•ral inlomiation HMM Arts Limitèd is a company limited by guarantee govemed by ils Memorandurn and Articles ol Association dated 8 November 2004 and as amended by a resolution on 6 May 2008 and incorporated in England and Wabs. It is registe as a charity wllh the Charfty Commission. Each of the Tnjstees of Ihe company agrèe to contribute £10 in the event of the charity winding up. Accountlng polici•• 2.1 8Asls ol pr•paratlon ol flnancSal statem•nts Th• financial statements have been prepared in accordarKe with the Chartties SORP IFRS 1021- Accounting and Reporting by Chanlies. Slatemenl ol Recommended Prac.tice applicable to charities pr8paring their accounts in accordance wth Ihe Financial Repo.ng Standard applicable in the UK and R9publiG ol Ir813nd IFRS 1021 lèNeclive 1 January 20191. the Financial Reporting Standard applicab18 In th8 UK and Republic ol Irèland IFRS 1021 and Ihe Cornpanies Act 2006. HMM Arts Ltd mèéts thè d8finilion ol a public benefit entity under FRS 102. Assets and liabilities are initially recD3nisèd al historical cost or Iransaction value Un$$ otherwse staled in the relevant accounting Wl¢y. 2.2 Golng Concern After making enquires, Ihe Trustees have a reasonable expeCtatn that the Chanty has ad&quate resources lo conlinue in oTatiOnal exislence for Ihe foreseeable luture. Thè Charity Ih8iafore continues to adopl th& goin9 eoncéfn basis In prèpanng Its financial statements. 2.J Income All income 15 recognised once the Company has Oniiuement to the income, It Is probab th81 the income will be received and Ihe amount ol income receivable Can bo rr98$ure¢J reliably. Grants are included in Ihe Statemenl of financial activities on a receivable basis. The balance of Income recelved lor specific purposes but not expended during Ihe period Is shc>wn in the relevant funds on the Balance sheel. whe income is received in advance of entillemenl of receipt. its rècognition Is deferred and included in creditors as deferred inci*ne. whe entitlement occurs before income Is received, Ihe Income is accrued. Income tax recoverable in relation io rnveslment income is recognised at ihe lime the Investment inctsme is receivable. Page 16
HMM ARTS LTD {A company limited by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinuedl 2.4 Expendlturg Expendituro Is recogn15ed oncè Ihere is a legal or conslruclive obligation lo transfer economic benefit to a third party. It is probable tllat a transler of economic benefits will be required in settlemènt and th6 amount ol the obligation can be measured reliabfy. Expenditurè 15 cLq55iflèd by activity. The costs ol ea¢h a¢livity are made ol Ihe iotal of direci costs and shared Costs, including support cost5 involved in undertaking each activity Direct fA)5ts attributable lo 8 single activity ar8 8llo¢ated direclly to Ihal activity. Shared costs which contnbute to molè than ona actitY and support costs which are nol attnbutablo Lo a single activity am apportioned belween those activities on a bags consislent with the use ol res(xJrc¢s. Cèntr8151aff costs are 8llocated on the basis of lime spenl. and depreciation ¢harges all¢)rat on th& portion ol thè asset's use. Expenditure on raising funds includes all expendilure incurred by tho Company to raise lund5 for ils charitable purposes and includes costs of all fundraising 3¢knviti#s entS and non<haritable trading. Expenditur8 on charitable activities is incurred on directfy undertaking Ihe aclivities which further the Company's obj'ectives, as well as any assrtiatèd support Costs. All expenditLFTe 13 inclusive ol irrecover8ble VAT. 2.5 Govèmm•nt grants Government grants are recognised in Ihe Statement of Financial activily on receipt and enltlernenl to tha funds. The govemmenl grant income 15 allocated lo Ihe appropriale Ivnd on receipt. 2.6 Int•r•st r•c•lvabl• Inte$1 on funds held on deposit is included when receivable and the amount can be measured rtrliably by the Compèny", this is nornially upon notification ol the interest paid or payable by the inslilulion with whom the funds are deposited. 2.7 TJngibl• fixèd assots and d•pr•eiation Tangible fixed at$ costsng £100 or more are capitalised and recDgnised when hJlure economic benefits are probable and the cost or value of the asset can be measured reliabty. Tangible fix8d assets èrè Initially recognised at cost. After recognition, under the cost model, tangible fixed asset5 ar8 rn8asuied at cost less accumulated depciatIon and any accumulated irnpairTnent losses. All costs Incurred lo bring a tangible fixed asset into its intended working condilion should be induded in the measuremenl of cosi. Depreciation 15 charged 50 a5 to allocate the cost ol tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the folk)wng bases". Plant and machinery Office equipment 10 years slraight line - 25Yts duc1j balance Page 17
HMM ARTS LTD IA company15mSted by guarant9•1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2023 Accounting poliGio$ Icontinuedl 2.8 sto¢k$ Stocks are valued at the lower ol cost and net realisable valu8 after fflaking du8 allowancè for obsolete arKI 5k)W-moving Stocks. Cost includes all direct costs and an appiopnate proportion of fixed and vanable overt)eads. 2.9 Deblorn Trade and other debtors are re¢jnIl at the seltlemenl amount after any trade discount offered. Prepayments are v8lued 8t the 8motJnt prepaid net ol any trade discounts due. 2.10 Cash at bank and Sn hand Cash al bank and in hand includes cash and short-tèm highly liquid invaslmants with a short malurily ol thr88 mornhs or ths from the dalg ol acouisitson oi onIng ol th6 d8posii or slmilar 8¢counl. 2.11 Llabllltl•s and provlslons Liabilities are rwnised when there is an obligaiK>n at thè Balance shéat dat8 as a r•sult ol a past event, il is probable that a transfer ol economic benefil will réouirèd In SelemeNt, ancj th8 arnounl of the Se11Ment can be eslimaled reliably. Liabililies arg racognlsad at thè amount that the Company anti¢ipal8s it will pay lo setue the dobt or the amount il h8$ roc81ved as advanced payments loi the goc#Ys or seNices Il mu51 provide. Provisions arè measured at th8 best estimate ol ihe amoun1$ requifed to Settle tho obllgatlon. Where the eNe¢t ol the time Value ol money is malerial. the provision is based on the pre5eTrl value ol those arnounls. discounted at thè prts-iax discount rale that reNects the risks specific to the liability. The Unwinding ol the discount Is recognised in the Slalemenl of financial activities as a finance cost. 2.12 Flnancial in$trum•nts The Company only has financial assels and financial liabililies ol a kind that qualify as basic rinancial inslrumenls. Basic financial instrument5 are initially recognised al transaclion value and 5ub5equenlty measu al their settlemgnl value wilh the exceplion of bank bans which are subsequently rneasured at amortised cost using gffective intecest method. 2.13 Operating leasès Rentals paid under operating leases are charged to the Statement of financial activities on 5traight-Iine basis over the lease temi. 2.14 Pensions The Company operates a defined contribution pension scheme and the pension charge preSentS the amounts payable by the Company lo the tund in respett of the yeai. Page 18
HMM ARTS LTD IA company limited by 9uaranteo1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 AccountSng polici•s Icontlnuedl 2.15 Fund a¢counting General funds are unrestricted hjnds are available lor use at the discrolion of the Trustees in furtherance of the general objective5 of the Cornpally and which have not been desi9nated for other purposes. Restrictèd funds are funds which are to be used in accordance wilh 5pe¢ific restrictions irnp05ed by donor5 or which have been raised by the Company for particular purposes. The costs of raising arid adrnini$lering such funds are charged againsl the speofic lund. Tho aim and usc of each rostricled lund is sel out in the notès lo thè Iinancial statements. Investment incorn8. 9ain$ arKI 10ssè5 are alk)cat lo appropriat8 fund. Income from donatlons and l•ga¢i•$ Restrlcted Unrèstricted funds funds 2023 2023 Total funds 2023 Tolgl funds 2022 Oonalion$ Govemment granis 13.364 13,442 26,806 70,9TI 13.649 13.364 13.442 26,808 84,620 Tolal 2022 58.921 25.699 84.620 Income from Gharitablo activities Rèstricted lurtds 2023 Total funds 2023 Total funds 2022 Fees and grants Govemmenl grants 104.5T6 39.832 104,576 39,832 206,559 144.408 144,408 2QS.559 Total 2022 206.559 206,559 Page 19
HMM ARTS LTD (A company limited by gu•r•nt••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from charitabkn aCtlti•$ Icontinuedl Governmonl grants lor the year include grants form Arts CounGil England, Shropshire Counryl, Shrewsbury Town Council and Church stttOn Town Ccxjncil. In¢orn? from other tradlng a¢tlvltS*$ Incom• from fundraislng •v•nts Unr•strlct•d funds 2023 Total funds 2023 Totèl funds 2022 Calo Incorne Ticket income 16,075 15,955 3,2CKI 45,398 3,455 16.075 15,955 3,200 45.398 3,455 7,243 11,715 7,462 25,783 746 Gilt aid Room hire Other in¢ome 84.083 84,083 46,949 Total 2022 46,949 46.949 Investmènt Income UThrestricted funds 2023 Total fvnds 2023 Tot81 funds 2Q22 Investment inCon- irsleresl 277 277 Tol812022 Page 20
HMM ARTS LTD (A company lim5t•d by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Expendltur• on ralsing funds Costs of ralslng voluntary income Unrestricted funds 2023 Total funds 2023 Total funds 2022 Cale expenditure Fundraising expenditure 9,386 6,839 9.386 6.839 4, 168 617 16,225 16,225 4. T79 Total 2022 4. 779 4,779 Analy818 of •xpendSturè on charilablt actlvllles Sumrnary by fund typo R•strlcled Unr•$trlcte funds fund$ 2023 2023 Total 2023 Tot81 2022 Governance Othèr 10.731 106.379 10,731 299,712 18,038 3Dg,307 193.333 193.333 117.110 310,443 327.345 Total 2022 115. 772 211.573 327.345 Page 21
HMM ARTS LTD {A cornpany limlt¢d by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of expenditure by activities Activities undertaken dlrectly 2023 Support costs 2023 Total funds 2023 Total funds 2022 Governan¢ Other 10.731 63.482 10.731 299,712 18.038 309.307 236.230 236.230 74.213 310.443 327.345 Tolal 2022 228.746 98,599 327,345 AnalyBiS of dlr•cl costs Total funds 2023 Total fvnds 2022 Other 2023 Staff ¢ost$ Artist feès Other direct costs Markeling & advertI5in9 125.421 72,516 19.411 18,882 125,421 72,516 19,411 18.882 112,565 85,267 73,242 17,672 236,230 236.230 228, 146 Tolal 2Q22 228. 146 228. 746 Page 22
HMM ARTS LTD IA company Ilmlt•d by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysls of Èxp•nditurè by activbtles Icontlnuedl Analysis of support costs Total funds 2023 Total funds 2022 Gov•rnance 2023 Other 2023 Depr8cialion Adminlslration costs Training & development Evaluation costs Artist l¥¥s Legal fees Computer & equiprnenl costs Premlses costs Printing, pD51age and 5taliongry relephong Travèl & subsist8ncg Consultancy lees Bank ch8rges Loss on disposal ol fixed assets Insurance Subscriptions Govamanc& costs 8,941 2.450 318 8,941 2.450 316 8.992 1,288 462 3.565 1.320 3,565 1,320 5.535 1,800 3,919 26,437 1.201 7.918 206 76,470 1,356 519 1,646 2,872 18,038 4.701 25,619 1,084 8,295 4,701 25,619 1,084 8,29S 50 400 400 1,884 1.589 1.637 1,631 10,731 1.589 1.637 1.631 10.731 10.731 63.482 74,213 98.599 Total 2022 18.038 80.561 98,599 10. Indep•nd•nt oxamlner's remunorat5on 2023 2022 Fees payable to the Company'5 independent examin&r for the independent examin31ion of the Cornpany's annual accounts Fees payable to the CornpanY5 ind8pendent exarwtiner in rEspect ol". Audit of the annual accounts 2,520 7,500 Page 23
HMM ARTS LTD IA cornpany limlted ty gu•r•nt•è} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11. Staff ¢o$ts 2023 2022 Wages and salaries Social security costs Contribution lo defined contribution pens schemes 121.250 2.453 1.718 109,635 7,691 7,239 125.421 7 12.565 The average number of person5 employed by Ihe Cc¥npany during the year was as follows.. 2023 2022 No. Nc•. Employees 12 11 No employee received remuneration arnountir4J lo more than £60,000 In either year. The Chief Offl¢er thai seThed in the year received total remuneration of £28.167 12022". £33.526 including remuneration to hvo employees covenng malemity leave l. 12. Trusteos. remuneratlon and expenses Ouring the year, no Tnjslees receive¢J any rernuneration or olher benefits (2022 - £4,229J. The prior year remuneration was paid to K Cody for cover of thg maternity ol the Chiéf Officèr. Dunng the y&ar ended 31 March 2023. no Trustee expenses have been incurred (2022 - £221 fo I trust). Page 24
HMM ARTS LTD {A eampany Ilmlt•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2023 13. Tangible fix•d a55el• Plant and machinery Offlce equipment Totsl Cost or valuation Al 1 April 2022 Additions Disposals 23.S39 10S,936 6,639 18,9921 129.475 6,639 18,9921 At 31 March 2023 23,539 103.583 127,122 Dgpr•cla¢lon At 1 Apill 2022 Charge for the yeaT On disposals 8,326 2,354 86.033 6.587 17.4031 94.359 8,941 17,4031 At 31 March 2023 10.680 85.217 gS,897 N•t book valu• At 31 March 2C123 12.859 18,366 31,225 Al 31 March 2022 15.213 19.903 35,716 14. Sto¢k$ 2023 2032 Finished goods and goods lor resa 1,590 7,569 Page 25
HMM ARTS LTD IA cofftpany Ilm5t•d by guarant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2023 15. Debtors 2023 2022 Du• wlthln one year Trade debtors Other debtors Prepayments and accrued irKome 25.440 4.135 2.420 5. 723 6,939 31,995 12,662 16, Creditors: Amounts fallin9 du• withln one y•ar 2023 2022 Trade crgditors Other crgditors Accruals and delerred incorne 2,775 3.656 9.653 1,274 12,672 15,995 23,599 Page 26
HMM ARTS LTD IA wmpany Ilmit by guarant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. ststement of funds Statern•nt of funds- current y¥ar Balanc• at 31 March 2023 Balance at 1 April 2022 Income Exndblure Unr•$trlet•d lunds General Funds- all funEIs 81,838 97,802 1133,3351 46,305 Rg$trlct8d fLtnds Arts Council England - Hive YouThJ Programmers & Cultural Investigalors Shrop8hire Ctsuncil- HAF Summar Activities. LAC Holiday Band 8uikls and other small¢r SCC funds National Lottery Community Fund MYC Music & MYColle9e Chlldron in Need - Parachules Youth Music Foundation - Shining Siars National Lottery Heritage Fund Shrewsbury Town Couneil Starrordshire Community Foundation Tellord & Wrekin Council Hillcresl School 48.405 1.708 125.410 24.703 12,548 21,443 {21.0161 12,975 31,743 8.476 55,152 (81.2441 18,4661 114,8581 124,6131 11,2671 111,7501 17031 12951 {2.7051 14021 16041 5,651 10 12,087 15.695 26.945 30.360 9.948 1.267 9.7SO 703 295 1.705 2,000 Slrettfesl St Jamas Placè Foundation National Lollery Awards for 811 1,000 10,000 9.164 9,598 8.560 124,840 157,772 1193,3331 89,279 Total of funds 206,678 255,574 1326,668} 135,584 Page 27
HMM ARTS LTD {A company limited by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDEO 31 MARCH 2023 17. Statement of funds Icontinuedl Restricted funds ind¢Jde'. Arts Council England.. Hive Young Prograrnrners The Young Programmers project Is aimed at engaging ywn9 people, primarily young women.. notoriously under-represented in the MUS industry. in professional elements of concert promotion. with a focus on developing skills and experience in high.quality artsstic programrning. sound engineering. marketing and promolion for small-lo-medium soed venues. Experienced professionals in thè Industry are (Jelivering a series of Mentoring, one lo one coaching sessions aryj rcxjnd table disoJssions around the subject, culminating in participants producing tth"r series of l¢ve music shows, with ongoing support Imm their mentors and The Hive. Arts Council England.. Cultufal Investigators Th15 proie¢t rgcognises crgaliv6 ialenl. revealing th& range ol stories that spring from this MMUnity- lacing cultural venue in Ihg Ggnlro ol Shréwsbury. Thè projèct idsnlifiès and c8l&brales The Hive's value, lo local people past, presenl and lulure, arnd offers young peopk tspportunities to Investigat8 and creatively repre58nl cultural herila9e, inspiring thom to engag& with ¢uMur8 in their ¢)wn futures. Children In Need.. Parachutes This project lor under 55 8nd Iholr paren1$. guardians and car8ts aimed to incoase leaming and d8v&lopm8nl ol young chlldr8n In Hadescort, Shrcwsbury Funded by Children in Ne9d, the 3-year project encourages inleraclion between parentsIref$ and their children, building connections and a sense ol community. The Hive was surxe5slul in 5ecyring 8 socond 3-year gr8nt from Chikdren In Need lor the Parachules project its conlinuè and d8vèknp IA this peri(Mt. Shropshire Council.. HAF Sumrner Activities Shropshire Council Arts HAF (HolaY AclMti8s and Gr8nt supported The Hive'5 provision of HAF summer school holiday enrichment aclivilie5 lor exisling groups participating in the PIAF prograrnme. Creative activities included drumming, poetry. creative wrstsng, and music making. Shfopshire Council Looked After Children's Team.. Holiday Band Builds Funded by Shropshire Council Virtual School to provide song-wriling and band-building workshops and perf0mlan opportunities for Lwked After ChIren (ages 12-151 to enhance and develop musianshIp and recording skills. The band-buiky prqecls lake place during school holidays. Slaffordshire Community Foundation and Shrewsbury BID- Stre81 Festival The Hive organised è community Street Festival In June 2022 on Belmont to celebrate Ihe Queen 5 Jubilee. Thls evènt was funded by Sh$bury BID 18usiness Improvement District) and Staffordshire Community Foundalion JUble Fund. A busy and exuting free family event. the Street leslival included a light show. street theatre. live MUS by youThJ people and young adutts from Hive projects, circus skills, StOellIng, dnjmming. stalls and refreshments. The National Lottery Community Fund.. MYC Music ThSs project for young adults aged 16 - 30 experiencing h)neliness and soaal isoLItKsn, is taking place over 3 years across Shropshire Tellord & Vvrekin. Funded by National Lottery Community Fund. the MYC Music project aims to be 1C3S1gIY inclusive to those experiencing loneliness by signposb.ng from current partners. drawing in new partners and broader marketing to In¢ase Inlomial referral. whilsl being in a posilion lo offer low level support. Participants develop their musical sknlls whilst also gainitvj confiden. sell-esteem. and a sense Of agency. expressing themselves through song-writing. and regulady celebrating their achievements through perfomiances and recordings ol iheir work. From March 2020 MYC Music had lo adapt lo online woject delivery due to the pandemic and cltssure of The Hive's venue. the social hub where MYC Music groups met each week for creab.ve sessions. Page 28
HMM ARTS LTD (A ¢ompany limitèd by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. Stat•m•nt ol funds Icontinuedl Thg Nalitsnal Lollèry Community Fund.. Mycollege Five-year project MYcolge provides the infrastructure which pulls tOg81h8r all Th8 HIve'5 charity- foGused creative work with 16 - 30-year-olds. Mycollege nurtures creativè expression, talent, and bility through bespoke programmes for young adutis facing complex issues and experienoing low confidence. Offering Iilm, visual arts. music. pottery. crealive writing, and more." 8nabling young adults lo fulfil th81r potential by working 10 address issues affecting confiderbce, resilience and progression at the earliest poss1te opportunily", bringing people together with similar and comparable experiences, building strong relatsonships In and across a9e ranges arn9$t people who might otherwise never have mot.. and improving the experience ol Ihe places and spaces that rnat¢er to the young adults The Hive works wilh. The National Lottery Herilage Fund.. Hiéden Watèrways This inlergenerational prqecl has a focus heritage and community engagement bringing comrnunities logether to locus on g8lherin9 slories. taking part In wothshops. taking drono footage. and developing creative resources on Ihe Shrewsbury and Nèwport Canal. The project will concenlrale on engagement with the slrelch from The Flaxmill in Shrewsbury to Berwick Wharf near Uffington which is currently being restored. Project partners are Virtual Shropshirè, Shrewsbury an(J Newport Canals Trusl ané Friends of the Flaxmill Mallings. Aclivilics will include ereatSve programmes, art exhibitions. community days. a ceramics trail. and public events. Youth Music and Shropshire Council Virtual Schools.. Shifting Stars This radio and pcCast projecl aim510 increase tho olle¢livefflèss ol tho Care Council Crèw lo advocate Ic)r Looked After Children in Shropshire. ages 12-15 y8ars. Young people are developing Iheir communi¢aiion and pmsentat¢on skjlls. increaslng In confid8nco, making new Inends. and developing their vnder5tsnding ol different musical genres. Shrèwsbury Town Council Councillor's Grant and Local Cornmunty Fund - Ihe5c small grants helped to fund larger prolects including Mycollege. Young Programrners. aThl Shining Star5 activity which all requirod maieh-funding lo ènsure the projects deltvered their full crealive programme. Page 29
HMM ARTS LTO IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2023 17. Statement of funds lcontlnuj Slatgmenl of fund$ - prlor yèar Balance al 31 March 2022 Balènce at l Apnl 2021 Transl8rs in/oul Incomo Expendrfu Unrestricted funds General Funds- all funds 89.174 72,659 (216.3521 136.351 81.838 Re$tricted fund$ Arts Council England Hive Young Programmers & Cultural Investigators Shropshir8 Council- HAF Summer Activit, LAC Holiday 8and 8uiJd$ and other srnall8r SCC funds National Lottery Community FurKI . MYC Music & MYColleg8 Children In Nee¢Y- Parachutes Youth Music Foundati¢)n- Shintng Siars National Lottery Heritage Fund Shrewsbury Town Council Slafffor(Jshire Community Foundation Tgsco 8ag's for Help Tellord & Wrekin Counol RAF Shawbury & Shr8wsbury Bid Hillcrest Sehtsol DWP Kickslart Hope House Slr8ttfe5l Other Restricted Granls 25.367 78.316 (25.585) (29.693) 48.405 4.078 34,820 (14, 133) (72,2171 12,548 41,748 6. 734 94.364 8. 798 147,6381 (56, 7311 (2.4951 (4,561) 31, 743 8.476 1.023 26.969 5,063 4.049 5.000 8.690 (2.7T6) (5. 190) (9.220) (2.296) (16.831) (3,266) 9,948 7.261 (t300) 1, 107 10,000 350 (1, 107J (140) (290J 9,750 1.238 5,405 795 7.565 3.640 (3951 15, 1151 {500J 7Q3 295 (7.565) (1,560) (250) (200) (2,080) (45) (6(} 1.705 8fX) 111.489 265.480 (115. 772) {136.357J 124,840 Total of funds 200,663 338, 139 (332. 124) 206,678 Page 30
HMM ARTS LTD IA company IlmSted by gvaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Analysis ol net assets beeen funds Analysls of net assets between lund5 - current year Restrided Unrestrlcted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets 13,664 75.615 17,561 44,739 115.9951 31.225 120,354 115,9951 CdItorS due wilhin one ye Total 89.279 46.305 135.584 Analysls of not assfrts botwgen fund$- prlor ygar Reslricl6d Unfftslncled lund$ funds 2Q22 2022 Tol81 lunds 2022 Tangible fixed assets Curr8nl assets Cr8dilors due within one year 13.240 f 11.600 21.876 83,561 {23.599J 35.116 195, 161 (23,599) Total 124.840 81.838 206,6T8 19. Penslon commltm•n¢s The charily operates a defined conlribution pensKkTr scheme. The assels of the scheme are held $8par8tely from Ihose of the charity In an independenlty adMinisted fund. The pension cost chargè rèpmsènts contributions payable by the group to the fund and amounted to £1,71812022" £1,2391. There were no contributsons outstanding al balance sheel date. Paye 31
HMM ARTS LTD {A company IlfflitBd by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 20. Op•ratlng lease commitments At 31 March 2023 the Company had commilments lo make fijture minimurn lease payments under non- cancellablè operating leases as lollows". 2023 2022 Not later than 1 y8ar Laler than 1 year and not later than 5 years 3.025 10.433 3.671 13,798 13,458 17,409 21. Relat•d party tron$a¢tion¥ The Tru$teg J Thomas was paid £215 during Ihe yéar lor running an arts workshop12022 £Nill. Page 32