## ## |Trustees||||S Gill| |---|---|---|---|---| |||||C M Khera| |||||L McDonald - Chair ofTrustees| |||||Professor C O' Brien (OBE)| |||||A Akomfrah| |||||J Kamarah
Anand| |||||M Dave| |||||M Hussein| |||||R EPinchbeck| |Charity number||||1121755| |Company|number|||04899786| |Registered|oNce|6|Principal Address|39-41 Gregory Boulevard| |||||Hyson Green| |||||Nottingham| |||||NG7 6BE| |Auditor||||Rogers Spencer| |||||Newstead
House| |||||Pelham
Road| |||||Nottingham| |||||NG5 1AP| |Bankers||||NatWest Bank pic| |||||105Redford Road| |||||Hyson Green| |||||Nottingham| |||||NG5 2BY| |Senior Management|||Team|| |Chief Executive/Artistic|||Director|Saad-Eddine Said| |Interim Director of||Operations||David Mather| |Executive|Support|Manager||Emma Gower| |Support Services Manager||||Anita Kumari| |Head of Marketing||and Comms||Victoria Godfrey| ## ## |||||Page| |---|---|---|---|---| |Trustees' report||||1 —16| |Statement of|trustees'|responsibilities||17| |Independent|auditor's|report||18-20| |Consolidated|statement||offinancial activities|21| |Consolidated|balance|sheet||22| |Charity balance sheet||||23| |Consolidated|statement||ofcash Rows|24| |Notes to the|consolidated||financial statements|25-40| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---|---| ||||funds|funds||funds|funds|| |||Notes|2022f|2022|2022
6|2021
8|2021
8|2021
6| |Income from:||||||||| |Donations/
legacies|||868,589||868,589|853,589||853,589| |Charitable
activities|||10|503,675|503,685|1,199|194,594|195,793| |Other trading|||47,981||47,981|44,267||44,267| |Investment
income|||51||51|174||174| |Other income|||65,775||65,775|169,003||169,003| |Total income|||982,406|503,675|1,486,081|1,068,232|194,594|1,262,826| |~ECht||||||||| |Raising funds||8|133,548||133,548|80,822||80,822| |Charitable
activities||9|1,026,754|401,473|1,428,227|1,049,408|161,182|1,210,590| |Total resources||||||||| |expended|||1,160,302|401,473|1,561,775|1,130,230|161,182|1,291,412| |Net||||||||| |(outgoing)/Incoming||||||||| |resources before||||||||| |transfers|||(177,896)|102,202|(75,594)|(61,998)|33,412|(28,586)| |Gross transfers||||||||| |between
funds|||-100|100||98,900|(98,900)|| |Net (expenditure)/income||||||||| |for the year/||||||||| |Net movement|in funds||(177,896)|102,202|(75,694)|35,902|(65,488)|(28,586)| |Fund balances at 1||||||||| |April 2021|||3,787,161|136,341|3,923,502|3,750,259|201,829|3,952,088| |Fund balances|at|||||||| |31 INarch 2022|||3,609,165|238,643|3,847,808|3,787,161|136,341|3,923,502| ## ## ## ||||||2022||2021|| |---|---|---|---|---|---|---|---|---| |||||Notes|6||6|| |Fixed assets||||||||| |Tangible assets||||13||3,448,271||3,533,366| |||||||3,448,271||3,533,366| |Current assets||||||||| |Stock|||||2,942|||| |Debtors||||15|365,214||270,574|| |Cash at bank and|in|hand|||217,152||599,847|| ||||||585,308||870,421|| |Creditors: amounts||falling|due within|||||| |one year|||||(185,771)||(480,285)|| |Net current assets||||||399,537||390,136| |Total assets less|current||liabilities|||3,847,808||3,923,502| |Income funds||||||||| |Restricted funds||||17||238,543||136,341| |Unrestricted
funds||||||3,609,265||3,787,161| |||||||3,847,808||3,923,502| ## ## ## ||||||2022||2021|| |---|---|---|---|---|---|---|---|---| |||||Notes|||8|| |Fixed assets||||||||| |Tangible assets||||13||3,448,271||3,533,366| |Investments||||14||1||1| |||||||3,448,272||3,533,367| |Current assets||||||||| |Debtors||||15|445,845||316,978|| |Cash at bank|and in|hand|||212,892||598,712|| ||||||658,737||915,690|| |Creditors: amounts||falling|due within|||||| |one year||||16|(178,448)||(476,477)|| |Net cunent assets||||||480,289||439,213| |Total assets|less current||liabilities|||3,928,561||3,972,580| |Income funds||||||||| |Restricted funds||||17||238,643||136,341| |Unrestricted|funds|||||3,689,918||3,836,239| |||||||3,928,561||3,972,580| ## ## ## ## ||||2022||2021|| |---|---|---|---|---|---|---| |||Notes|5||8|| |Cash flows from operating|activities|||||| |Cash generated
from operations||21||(358,640)||370,817| |Investing
activities||||||| |Purchase oftangible fixed assets|||(24,106)||(14,404)|| |Investment
income received|||51||174|| |Net cash used in investing|activities|||(24,055)||(14,230)| |Net (decreased)lincrease|in cash and|cash||||| |equivalents||||(382,695)||356,587| |Cash and cash equivalents|at beginning|ofyear||599,847||243,260| |Cash and cash equivalents|at end of|year||217,152||599,847| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2022|2021| |||6|f| |ACE revenue core||868,589|853,589| |Income from charitable|activities||| |||2022|2021| |||6|| |Derwent Valley||12,000|| |Freelands||129,394|| |Real Creative Futures ERDF||88,249|78,642| |ACE Strategic Touring||31,487|12,485| |BBCChildren
in Need||3,670|28,737| |The Art of Belonging||3,310|| |African Soldier||231,246|38,728| |Art Fund||1,279|| |PCC Community|||7,900| |Shine a Light||1,840|4,052| |Historic England||1,200|4,800| |Nottingham
Mela||10|20,449| |||503,685|195,793| |Analysis
by fund|||| |Unrestdcted
funds||10|1,199| |Restricted funds||503,675|194,594| |||503,685|195,793| ## ## ## ## ## |||||||Unrestricted|Unrestricted| |---|---|---|---|---|---|---|---| |||||||funds|funds| |||||||2022|2021| |||||||6|2| ||Touring fees||||||3,750| ||Services contract||Nottingham||City Council|14,047|16,523| ||Facility income|||||13,055|| ||Workshop
and education|||income||900|275| ||Retailing|||||439|| ||Boxoffice income|||||28|| ||HMRC Creative Industries|||Tax Credit||(29,595)|5,000| ||ACE Catalyst|Evolve Match Funding|||||| ||Sundry
income|||||731|581| ||Consultancy|fees||||4,333|12,013| ||Black Lives Matter||||||3.960| ||Cafe and catering|||||44,043|2,162| |||||||47,981|44,267| |6|Investment|Income|||||| |||||||Unrestricted|Unrestricted| |||||||funds|funds| |||||||2022|2021| |||||||2|f| ||Interest receivable|||||51|174| |7|Other income||||||| |||||||Unrestricted|Unrestricted| |||||||funds|funds| |||||||2022|2021| |||||||8|6| ||Panel interviews||income||||90| ||Sundry income|||||50|| ||Government|grants - review||||4,000|| ||NCC —misc|grants||||38,000|| ||Government|grants -furlough|||income|23,725|168,913| |||||||65,775|169,003| ## ## ## |8|Expenditure|on raising funds|on raising funds|on raising funds||| |---|---|---|---|---|---|---| ||||||Unrestricted|Unrestricted| ||||||funds|funds| ||||||2022|2021| ||||||6|6| ||Advertising
and marketing||||45,841|11,638| ||Cafe purchases||||20,088|3,045| ||Support costs (see||note 10)||67,819|66,141| ||||||133,548|80,822| |9|Expenditure|on charitable||activities||| ||||||2022|2021| ||||||8|8| ||Depreciation|and impairment|||109,201|110,333| ||Research and development||||1,391|5,871| ||Main Gallery||||37,624|6,590| ||Project costs||||428,196|347,852| ||||||576,412|470,446| ||Share ofsupport costs (see|||note 10)|837,426|729,164| ||Share ofgovernance||costs (see note 10)||14,389|10,980| ||||||1,428,227|1,210,590| ||Analysis
by|fund||||| ||Unrestricted|funds|||1,026,754|1,049,408| ||Restricted funds||||401,473|161,182| ||||||1,428,227|1,210,590| ## ## ## |Support costs||||||| |---|---|---|---|---|---|---| ||Support|Governance|2022Support costs||Governance|2021| ||costs|costs
8|||costsf|| |Wages|666,528|6,589|673,117|541,320|3,330|544,650| |Pensions|20,938||20,938|21,759||21,759| |ITexpenses|11,102||11,102|6,486||6,486| |Premises costs|69,784||69,784|60,469||60,469| |Professional fees|62,991||62,991|69,199||69,199| |"Experimentor"||||54||| |Travelling
expenses|1,781||1,781|3,446||3,446| |Staif training costs|4,339||4,339|3,607||3,607| |Sundry expenses|8,351||8,351|5,576||5,576| |Postage and stafionery|533||533|494||494| |Board meeting expenses||||||| |Event costs||||||| |Exhibition
technicians|15,568||15,568|10,759||10,759| |Equipment
for room hire||||||| |Fundraising
symposium||||||| |Bank charges|3,409||3,409|1,631||1,631| |Repairs and renewals|39,722||39,722|70,505||70,505| |Audit fees||7,800|7,800||7,650|7,650| ||905,046|14,389|919,435|795,305|10,980|806,285| ## ## ## ## |Employment|costs|2022|2021| |---|---|---|---| |Wages and salaries||628,485|648,276| |Employers
Nl||44,632|47,389| |Pension costs||20,938|21,759| |||694,055|717,424| |13|Tangible fixed assets|Tangible fixed assets||||| |---|---|---|---|---|---|---| ||(Group and|Charity)||||| |||||Leasehold|Fixtures and|Total| |||||land and|flttln9s|| |||||bufidlngs||| |||||6||| ||Cost|||||| ||At 1 April 2021|||4,549,049|368,856|4,917,905| ||Additions||||24,106|24,106| ||At 31 March|2022||4,549,049|392,962|4,942,011| ||Depreciation|and impairment||||| ||At 1 April 2021|||1,085,200|299,339|1,384,539| ||Depreciation|charged|in the year|88,421|20,780|109401| ||At 31 March|2022||1,173,621|320,119|1,493,740| ||Carrying
amount|||||| ||At 31 March|2022||3,375,428|72,843|3,448,271| ||At 31 March|2021||3,463,849|69,517|3,533,366| ## ## ## |14|Fixed asset|investments|investments||||| |---|---|---|---|---|---|---|---| ||||||||Other| ||||||||investments| ||Cost or valuation||||||| ||At 1 April 2021 &31 March 2022||||||| ||Carrying
amount||||||| ||At 31 March|2022|||||| ||At 31 March|2021|||||| |||||||2022|2021| ||Other investments||comprise:||Notes|8|8| ||Investments|in subsidiaries|||20||| |15|Debtors||||||| |||||||2022|2021| ||Group:||||||8| ||Trade debtors|||||7,801|17,246| ||Other debtors|||||8,201|16,408| ||Prepayments|and|accrued income|||349,212|236,920| |||||||365,214|270,574| |||||||2022|2021| ||Charity:|||||8|f| ||Trade debtors|||||480|17,246| ||Amounts
owed by||subsidiary|undertakings||88,666|49,158| ||Other debtors|||||8,201|16,202| ||Prepayments|and|accrued income|||348,498|234,372| |||||||445,845|316,978| ## ## ## |16|Creditors: amounts|Creditors: amounts|falling due within one year||| |---|---|---|---|---|---| ||Group:|||2022f|2021
8| ||Other taxation|and social security||14,467|20,839| ||Trade creditors|||109,316|129,320| ||Other creditors|||5,376|5,646| ||Accruals and deferred||income|56,612|324,480| |||||185,771|480,285| |||||2022|2021| ||Charity:|||8|8| ||Other taxation|and social security||12,006|19,714| ||Trade creditors|||106,925|128,164| ||Other creditors|||4,105|5,636| ||Accruals and deferred||income|55,412|322,963| |||||178,448|476,477| |||||CLol!:i|CLol!:i|CLol!:i|CLol!:i|||I||EO||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||4ec|||||||||||||||| ||||||||Cl|||||||||||||||| ||||||||I|||||||||||||||| |||||c
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~C «C| ## ## |18|Analysis of|net assets|between funds|||||| |---|---|---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| ||||funds|funds||funds|funds|| ||||2022|2022|2022|2021|2021|2021| ||||6|8|8|5|f|8| ||Fund balances at 31|||||||| ||March 2022|are||||||| ||represented|by:||||||| ||Tangible assets||3,448,271||3,448,271|3,533,366||3,533,366| ||Current assets/(liabilities)||160,894|238,643|399,537|253,795|136,341|390,136| ||||3,609,165|238,643|3,847,808|3,787,161|136,341|3,923,502| ## ## ## ## |21|Cash generated
from operations|Cash generated
from operations||2022|2021| |---|---|---|---|---|---| |||||6|| ||Deficit for the year|||(71,694)|(28,586)| ||Adjustments
for:||||| ||Investment
income|recognised
in statement offinancial|activities|(51)|(174)| ||Depreciation
and impairment
oftangible fixed assets|||109,201|110,333| ||Movements
in working capital:||||| ||(Increase)/Decrease|in stock||(2,942)|1,804| ||(Increase)/Decrease|in debtors||(95,980)|93,090| ||(Decreaseylncrease|in creditors||(297,174)|194,350| ||Cash (used by)/generated
from operations|||(358,640)|370,817|