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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 04888760 (England and Wales) REGISTERED CHARITY NUMBER: 1125145

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023

for

Meadow Arts

Ashmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 1HY

Meadow Arts

Contents of the Financial Statements for the Year Ended 31 March 2023

Page
Annual Report 1 to 3
Report of the Trustees 4 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 14
Detailed Statement of Financial Activities 15 to 16

Annual Report 2023 01 April 2022 – 31 March 2023

Executive Summary

The year was summarised by successfully securing our fourth Arts Council England National Portfolio Organisation (ACE NPO) status, spanning the period April 2023- March 2026. The competition for NPO funds, which followed the Covid-19 pandemic, rises in the cost of living, and extra pressures brought about by global turmoil (War in Ukraine) was higher than ever before. We were delighted and relieved to have secured the funding, and in acknowledging the financial security this brings, also acknowledge the new ACE reporting criterion, the new ACE strategy Let’s Create, and most importantly for Meadow Arts, the fact that our funding remains frozen at the level it was in 2012. While we continue to deliver ambitious and high-quality work, we do so in circumstances that require dedication and commitment to ensuring the organisation continues to flourish.

We responded to the climate crisis through our main exhibition Watermark, which took the example of localised flooding in Worcester city, to reflect upon global climate change. The project was delivered in partnership with five city centre venues, three local schools, the Worcester Open and included an Art & Climate Roundtable event, chaired by the Sustainability Director from Hay Festival.

Work was carried out during the period to ensure that Meadow Arts’ Mission and Values still represent our Vision as well as aligning with the Arts Council England Strategy Let’s Create .

Meadow Arts Vision

We are creative, inspirational, collaborative, responsive & curious.

We use excellent contemporary art to encourage new ideas and expand horizons.

We place visual art in unexpected, often rural places, to reach audiences and engage participants.

Main Exhibition 2023

Watermark, Worcester, with Worcester City Museum & Art Gallery, The Hive, St Swithun’s, University of Worcester, City Campus, and Worcester Cathedral. 28 January to 3 June 2023

The Watermark programme included new commissions, borrowed artworks, films, and talks and explored how artists engage with their environmental responsibility, to offer perspective and relevance as we enter the era of the Anthropocene. It attracted partnership income from Worcester University (£3500) and Worcester Arts Council (£500) and a grant from the Elmley Foundation (£10,000).

Main commission Deluge , by Hilary Jack , was displayed outside The Hive Library on Story Island. Other artists included Carolyn Black at The Hive, Daniel Pryde-Jarman at University of Worcester, City Campus Terraces; Tania Kovatz, Naiza Khan, Sally Payen and Gabriella Hurst at Worcester City Art Gallery & Museum; with films by Emma Critchley , Simon Faithful and Suky Best at St. Swithun’s.

Page 1

Meadow Projects

1. Station Approach, Hereford

Major new 3-Year partnership with Hereford College of Art, at No.1 Station Approach, Hereford. Funded by Stronger Towns Hereford to value of £88,200

Year 1: Lothar Götz, Year 2: Matthew Cornford, Year 3: Laura White

Lothar Götz work was exhibited 15 June 2022 – 30 April 2023. The week his work went on show in Hereford, he also opened major new works for The Elizabeth Line, London and at Canary Wharf for #LondonPride. The opening event in Hereford included an artist talk and was preceded and followed with engagement projects with local schools and community groups.

2. Monument to the Vanquished, Shropshire

A 5-Phase project with artist Leah Gordon and researcher Annabel Edwards, and various venue partners from across the region. Phase 1 2022: The Commoners - The Hive, Shrewsbury, 4 Oct to 11 Nov 2022 followed by two engagement projects with user groups from The Hive.

3. Juneau Projects at Pershore Riverside Centre, Summer 2022 to Spring 2023.

In partnership with Pershore Riverside Centre, funded by Art Fund (£14,800) and Wychavon District Council (£1500) A high profile project at Avon Meadows floodplain, working with young people in Pershore. Outcomes were creation of a permanent sculpture trail – Small Creatures of Avon Meadows – which included 20 bronze sculptures of wildlife commonly found at this SSSI site. A further 20 bronzes were included in the Watermark exhibition at The Hive, Worcester.

4. Art House Open Lectures Season 10, Oct 2022 to March 2023

A significant point in the Meadow Arts-University of Worcester partnership, marking the 10[th] anniversary of this annual programme that brings students and the public together to listen to contemporary visual artists in conversation both live and online via a hybrid offer.

Engagement Programme

We worked with several schools, youth and community groups and families during the year. Most activities were linked to the artistic programme, but not all.

Page 2

Marketing

Governance 2022-23

Staffing

Meadow Arts is run by 5 part-time staff, with an FTE of 3. In the 2022-23 year there were many staff changes, at times resulting in a core team of only 3 part-time post holders to cover operations across three counties.

Engagement:

Freelance Team:

Our core staff are supported by:

Arts Council England

Page 3

Meadow Arts

Report of the Trustees for the Year Ended 31 March 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's main objectives are the education of the public by the promotion of contemporary and other art and in particular (but without limitation) art that is linked to the landscape in the West Midlands and surrounding areas. This is to be achieved by exhibiting contemporary and other art to foster understanding, appreciation and employment of art amongst the public. The trustees confirm that they have considered the Charity Commission's Guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year Meadow Arts met its objectives by organising and delivering a substantial number of well-attended visual arts exhibitions, artworks and activities throughout the rural West Midlands and adjoining counties. (More detail is provided in the preceding pages)

FINANCIAL REVIEW

Principal funding sources

The principal funding source in the year under review was Arts Council England as a National Portfolio Organisation since April 2012. The excess of expenditure over income for the year amounted to £35,390 (2022: £2,529 surplus)

Reserves policy

The organisation adopted a reserves policy at the Annual General Meeting on 4th December 2017. The organisation aims to hold reserves of £42,570 to ensure that Meadow Arts organisation's core activity could continue during a period of unforeseen difficulty. The position is reviewed annually. The unrestricted reserves at 31 March 2023 amounted to £43,273 substantially all of which comprised free reserves.

Going concern

The status of Meadow Arts as an Arts Council England National Portfolio Organisation was reconfirmed during the year and extends to 31st March 2026. Taking this and other relevant factors into account the Financial Statements have been prepared on the Going Concern basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a company, limited by guarantee, as defined by the Companies Act 2006.

The governing document is the Memorandum and Articles of Association, as amended by special resolution dated 3 May 2008.

Recruitment and appointment of new trustees

As set out in the Articles, new trustees are appointed by the trustees and confirmed at the Annual General Meeting by the members of the charitable organisation.

All members are circulated with an invitation to nominate trustees prior to the AGM, advising of the retiring trustees and requesting nominations to be elected at the AGM. When considering new trustees, regard is given to any specialist skill needed.

New trustees undergo an orientation session to brief them on their legal obligations under charity and company law.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

04888760 (England and Wales)

Page 4

Meadow Arts

Report of the Trustees for the Year Ended 31 March 2023

Registered Charity number 1125145

Registered office

West House 23 Broad Street HAY-ON-WYE Herefordshire HR3 5DB

Trustees

C Walsh (resigned 9.12.22) R Heatly D Robinson N Bury (resigned 29.6.23) J Freeman (resigned 22.3.23) A Neal (resigned 16.8.22) Dr D Pryde-Jarman (Chair) L Mayor R Hughes S Purse G Moore (appointed 24.6.22) C Pearson (appointed 24.6.22) S Beyad (appointed 9.12.22)

Company Secretary C Purcell

Independent Examiner

Ashmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 1HY

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 30 November 2023

........................................................................ Dr D Pryde-Jarman (Chair) - Trustee

Page 5

Independent Examiner's Report to the Trustees of Meadow Arts

Independent examiner's report to the trustees of Meadow Arts ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr K R Wilcox FCCA

Ashmole & Co Manchester House Grosvenor Hill Cardigan Ceredigion SA43 1HY

20.12.2023 Date: .............................................

Page 6

Meadow Arts

Statement of Financial Activities for the Year Ended 31 March 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
169,751
Investment income
2
93
Other income
-
Total
169,844
EXPENDITURE ON
Charitable activities
Support costs
136,363
Artistic costs
57,307
Education & engagement costs
2,880
Marketing & advertising costs
8,684
Governance costs
-
Total
205,234
NET INCOME/(EXPENDITURE)
(35,390)
RECONCILIATION OF FUNDS
Total funds brought forward
78,663
TOTAL FUNDS CARRIED FORWARD
43,273		 Restricted
funds
£
37,230
-
-
37,230
3,166
24,171
7,780
2,113
-
37,230
-
13,320
13,320		 31.3.23
Total
funds
£
206,981
93
-
207,074
139,529
81,478
10,660
10,797
-
242,464
(35,390)
91,983
56,593		 31.3.22
Total
funds
£
246,665
5
500
247,170
141,936
80,767
-
21,445
493
244,641
2,529
89,454
91,983

The notes form part of these financial statements

Page 7

Meadow Arts

Balance Sheet 31 March 2023

31.3.23 31.3.22
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 6 11 - 11 11
CURRENT ASSETS
Debtors 7 6,030 - 6,030 111
Cash at bank and in hand 44,124 13,320 57,444 94,626
50,154 13,320 63,474 94,737
CREDITORS
Amounts falling due within one year 8 (6,892) - (6,892) (2,765)
NET CURRENT ASSETS 43,262 13,320 56,582 91,972
TOTAL ASSETS LESS CURRENT
LIABILITIES 43,273 13,320 56,593 91,983
NET ASSETS 43,273 13,320 56,593 91,983
FUNDS 9
Unrestricted funds 43,273 78,663
Restricted funds 13,320 13,320
TOTAL FUNDS 56,593 91,983

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 30 November 2023

.............................................

Dr D Pryde-Jarman (Chair) – Trustee

The notes form part of these financial statements

Page 8

Meadow Arts

Notes to the Financial Statements for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further information on restricted funds is included in the notes to the financial statements.

2. INVESTMENT INCOME

INVESTMENT INCOME
31.3.23 31.3.22
£ £
Deposit account interest 93 5

continued...

Page 9

Meadow Arts

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 (2022 - £0)

4. STAFF COSTS

The average monthly number of employees during the year was as follows:

5.


Management
Marketing
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
172,345
Investment income
5
Other income
500
Total
172,850
EXPENDITURE ON
Charitable activities
Support costs
90,436
Artistic costs
41,267
Marketing & advertising costs
21,445
Governance costs
493
Total
153,641
NET INCOME/(EXPENDITURE)
19,209
RECONCILIATION OF FUNDS
Total funds brought forward
59,454
TOTAL FUNDS CARRIED FORWARD
78,663		 31.3.23

2
1
3
Restricted
funds
£
74,320
-
-
74,320
51,500
39,500
-
-
91,000
(16,680)
30,000
13,320		 31.3.22
2
1
3
Total
funds
£
246,665
5
500
247,170
141,936
80,767
21,445
493
244,641
2,529
89,454
91,983

continued...

Page 10

Meadow Arts

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

6. TANGIBLE FIXED ASSETS

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 April 2022 and 31 March 2023 500 1,357 6,236 8,093
DEPRECIATION
At 1 April 2022 and 31 March 2023 489 1,357 6,236 8,082
NET BOOK VALUE
At 31 March 2023 11 - - 11
At 31 March 2022 11 - - 11
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Trade debtors & accrued income 6,030 111
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Accrued expenses 6,892 2,765
9. MOVEMENT IN FUNDS
Net
movement At
At 1.4.22 in funds 31.3.23
£ £ £
Unrestricted funds
General fund 78,663 (35,390) 43,273
Restricted funds
Art Fund 13,320 - 13,320
TOTAL FUNDS 91,983 (35,390) 56,593

continued...

Page 11

Meadow Arts

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Elmley Foundations
Wychavon Council
Hereford Council
Churches Conservation Trust
Leominster Cultural Consortium
Avon Meadows Project
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Paul Hamlyn Foundation
Art Fund
TOTAL FUNDS		 Incoming
resources
£
169,844
5,000
1,500
20,050
4,200
5,000
1,480
37,230
207,074
At 1.4.21
£
59,454
30,000
-
30,000
89,454		 Resources
Movement
expended
in funds
£
£
(205,234)
(35,390)
(5,000)
-
(1,500)
-
(20,050)
-
(4,200)
-
(5,000)
-
(1,480)
-
(37,230)
-
(242,464)
(35,390)
Net
movement
At
in funds
31.3.22
£
£
19,209
78,663
(30,000)
-
13,320
13,320
(16,680)
13,320
2,529
91,983

continued...

Page 12

Meadow Arts

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

9. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Paul Hamlyn Foundation
Cultural Recovery Fund
Paul Hamlyn Foundation - Covid relief
Art Fund
Elmley Foundations
TOTAL FUNDS		 Incoming
resources
£
172,850
-
31,500
20,000
14,320
8,500
74,320
247,170		 Resources
Movement
expended
in funds
£
£
(153,641)
19,209
(30,000)
(30,000)
(31,500)
-
(20,000)
-
(1,000)
13,320
(8,500)
-
(91,000)
(16,680)
(244,641)
2,529

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.21 in funds 31.3.23
£ £ £
Unrestricted funds
General fund 59,454 (16,181) 43,273
Restricted funds
Paul Hamlyn Foundation 30,000 (30,000) -
Art Fund - 13,320 13,320
30,000 (16,680) 13,320
TOTAL FUNDS 89,454 (32,861) 56,593

continued...

Page 13

Meadow Arts

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Paul Hamlyn Foundation
Cultural Recovery Fund
Paul Hamlyn Foundation - Covid relief
Art Fund
Elmley Foundations
Wychavon Council
Hereford Council
Churches Conservation Trust
Leominster Cultural Consortium
Avon Meadows Project
TOTAL FUNDS		 Incoming
resources
£
342,694
-
31,500
20,000
14,320
13,500
1,500
20,050
4,200
5,000
1,480
111,550
454,244		 Resources
Movement
expended
in funds
£
£
(358,875)
(16,181)
(30,000)
(30,000)
(31,500)
-
(20,000)
-
(1,000)
13,320
(13,500)
-
(1,500)
-
(20,050)
-
(4,200)
-
(5,000)
-
(1,480)
-
(128,230)
(16,680)
(487,105)
(32,861)

10. RELATED PARTY DISCLOSURES

£2,000 was paid to Dr D Pryde-Jarman, who is a trustee of Meadow Arts, for exhibiting works at an exhibition.

Page 14

Meadow Arts

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

31.3.23 31.3.22
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Schools & other partners - 7,944
Donations 242 -
Arts Council Grants 163,889 163,889
Other grants & partnership contributions 42,530 43,332
Earned income 320 -
Cultural recovery fund (R2) - 31,500
206,981 246,665
Investment income
Deposit account interest 93 5
Other income
JRS covid grant - 500
Total incoming resources 207,074 247,170
EXPENDITURE
Charitable activities
Artists fees and expenses 81,478 55,617
Marketing and advertising 10,797 21,445
Education and engagement 10,660 25,150
102,935 102,212
Support costs
Management
Wages 114,826 97,193
Social security 4,035 11,024
Rent 3,590 3,507
Insurance 2,417 2,138
Telephone and internet costs 406 1,115
Printing, post and stationery 138 551
Management and consultancy 2,227 9,268
Website and computer costs - 3,500
Motor and travelling expenses 4,934 3,964
Subscriptions 2,189 481
Sundry expenses 81 155
Accountancy 594 570
Bookkeeping and payroll 2,985 3,105
Bank charges 136 95
Training 971 308
Professional fees - 4,207
Repairs & renewals - 1,008
139,529 142,189

This page does not form part of the statutory financial statements

Page 15

Meadow Arts

Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23 31.3.22
£ £
Management
Governance costs
Management and consultancy - 240
Total resources expended 242,464 244,641
Net (expenditure)/income (35,390) 2,529

This page does not form part of the statutory financial statements

Page 16