2021-03-31-accounts - Creativity Culture And Education

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TRUSTEES' REPORT (including Directors' R	TRUSTEES' REPORT (including Directors' R	TRUSTEES' REPORT (including Directors' R	eport)
As the Board ofTrustees, we present our report			and financial statements	for the year to 31 March
2021.
Company	Number	06600739
Registered	Charity Number	1125841
Registered	Office	Ground Floor 20 Portland Terrace
		Newcastle	upon Tyne
		NE2 1QQ

ncorporating a summarise EAR TO 31 MARCH 2021	d In	come	8 Expe	nditure Account	)
			Note	Unrestricted	Restricted	Total	Total
				Funds 6	Funds 6	2021 6	2020f
Income
Income from Charitable Activities			3	167,248		167,248	233,761
Income from Investments			4	73,704		73,704	117,991
Income from Grants, Donations Legacies		&	5	9,497		9,497
Other Income			6	14,487		14,487	70
Total Income				264,936		264,936	351,822
Expenditure
Expenditure on Raising Funds				13,657		13,657	18,343
Expenditure on Charitable	Activities		8	332,280	1,383,873	1,716,153	538,981
Total Expenditure				345,937	1,383,873	1,729,810	557,324
Net Income/(Expenditure)	before			(81,001)	(1,383,873)	(1,464,874)	(205,502)
Gains/(Losses) on Investments
Transfers between Funds				1,050,927	(1,050,927)
Net Gains/(Losses) on Investments				478,338		478,338	(297,745)
Net movement in funds			9	1,448,264	(2,434,800)	(986,536)	(503,247)
Balance brought forward				669,749	2,434,800	3,104,549	3,607,796
Balance carried forward			17	62,118,013	6-	62,118,013	63,104,549

Income fro	m Charitab	le Activitie	s
				Unrestricted	Restricted		2021	2020
				Funds	Funds
							6	6
Programme Design 6 Consultancy Speaking Fees				162,549 4699 167,248			162,549 4699 167,248	216,697 17064 233,761
The 2020 total ofF233,761 was wholly				attributable to Unrestricted		Funds.
Income from Investments
				Unrestricted	Restricted		2021	2020
				Funds	Funds
				6		6	6	6
Interest on cash deposits				114			114	445
Interest on / investments	Dividends from under fund management			73,590 73,704			73,590 73,704	117546 117,991
The 2020 total ofF117,991was wholly				attributable to Unrestricted		Funds.
Income from Grants,		Donations	&Legacies
				Unrestricted	Restricted		2021	2020
				Funds	Funds
				6
Coronavirus	Job Retention Scheme			9497			9,497
				9,497			9,497
Other Income
				Unrestricted	Restricted		2021	2020
				Funds	Funds
				6		6	6
Grant Fall-In Other Income				14,309 176 14,487			14,309 176 14,487	70 70

Expenditure on Raising F	unds
		Unrestricted	Restricted	2021	2020
		Funds	Funds
		6		E	6
investment Management	Costs	13657 13,657		13657 13657	18343 18343
The 2020 total of 618,343was wholly		attributable to Unrestricted Funds.
Expenditure on Charitable	Activities
		Unrestricted	Restricted	2021	2020
		Fundsf	Funds E	K
Cultural &Creative Learning
Programmes Associates, Travel & Subsistence Staff Costs (see Note 10)		22,648 246,216 268,864	1,363,873 1,383,873	22,648 1 630,089 1,652,737	66,759 368,954 435,713
Support Costs Legal 8 Other Professional Depreciation Other Overhead Costs	Costs	10,774 1,554 37,668 49,996		10,774 1,554 37,668 49,996	1,250 3,713 64,555 69,518
Governance Costs Staff Costs (see Note 10) External Audit Fees Other Accountancy Services		3,500 9920 13,420		3,500 9,920 13,420	28,102 3,500 2 148 33,750
		332,280	1,383,873	1,716,153	538,981

Net Income/(Expenditur	e)
		2021	2020
Net income/(expenditure)	is stated after charging/(crediting):
Auditors' Remuneration —current year Operating Lease payments in the year Depreciation ofOwned Fixed Assets		3,500 9,332 1,554	3,500 9,332 3,713

Staff Costs
	Unrestricted	Restricted	2021	2020
	Funds E	Funds E	f	E
Gross Salary Costs Redundancy Costs Social Security Costs	181,564 16,744		181,564 16,744	296,511 10,945 31,158
Employer's Pension Contributions— Defined Contribution Scheme Pension Deficit Underpinning Payment	12,817 20,001		12,817 20,001	20,372 24,220
—Arts Council Retirement Plan
Defined Benefit Scheme Employer's Pension Contributions—	15,090		15,090	29,880
Defined Benefit Scheme Pension Provision Release- Defined		(215,127)	(215,127)	(16,030)
Benefit Scheme (Note 16) Section 75 Settlement - Defined		1,599,000	1,599,000
Benefit Scheme	246,216	1,383,873	1,630,089	397,056
The average monthly number of staff employed during the year, was as follows:			2021 No.	2020 No.
Cultural &Creative Learning Programmes			4	6
The number ofthe above staff expressed	as full-time equivalents was		3.2 (2020:5.1)
The following employees received remuneration, including employer's pension contributions, in excess ofF60,000 in		the year.	2021 No.	2020 No.
870,001 to 880,000 F80,001 to F90,000 F120,001 to F130,000			1	1 1
The total paid to key management personnel, defined as the members Management Team, was 6129,809(2020:8265,802).			ofthe Senior

angible Fixed Assets
	Fixtures &	Office	ICT	Total Fixed
	Fittings	Equipment	Equipment	Assets
Cost	E	6	6	6
At 1 April 2020	13,654	2,300	26,363	42,317
Additions
Disposals At 31 March 2021	13,654	2,300	26,363	42,317
Depreciation At 1 April 2020 Charge for year	13,654	2,300	24,809 1,554	40,763 1,554
Disposals At 31 March 2021	13,654	2,300	26,363	42,317
Net BookValue
At 31 March 2021
At 1 April 2020		F:	K1 554	61 554

Fixed Assets -Investments	under	Fund INanagem	ent
				2021 E	2020f
Market Value at 1 April Cost of Investments Purchased Market Value of Investments Sold Unrealised Gain/(Loss)				3,031,629 683,871 (1,966,191) 234,454 1,983,763	3,630,845 966,919 (1,268,390) 297,745 3,031,629
Cash Market Value at 31 March				40,896 2,024,859	113692 3,145,321
The market value has been	provided	by the charity's	investment	managers.
Geographical analysis of investments		under fund management:		2021 E	2020 E
Fixed Interest UK Equities Overseas Equities Alternatives Cash				187,877 614,407 862,641 318,838 40,896 2,024,559	515,285 1,009,422 1,090,988 415,934 113,692 3,145,321

b
Detors	2021	2020
		E
Trade Debtors Prepayments &Accrued Income Value Added Tax Debtor	12,046 10,274 1 659 23,979	48,283 31,125 2 743 82,151

15	Creditors - Amounts Falling D	ue W	ithin One Year
.				2021	2020
				6	6
	Grant Creditor Trade Creditors			20,367	14,309 10,575
	Deferred Income (see below) Other Creditors Other Taxes 8Social Security Costs Accruals			2,029 3,451 12,191 38,038	11,928 9,962 11 122 57,896
	Deferred Income Deferred Income brought forward				2,944
	Income deferred in the year Income released in the year				2 944
	Deferred Income carried forward
16.	Creditors - Provision for Liabilities		&Charges
				2021	2020
	Provision for Pension Scheme Deficit		Contributions		215,127
					215,127
				2021	2020
	Increase/(Decrease) inProvision	iny	ear	215,127)	(16,030)

nalysis of Charitable Fun	ds
	Fund at 1 April 2020	Income for Period & Gain on	Expenditure for Period	Transfers between Funds	Fund at 31 INarch 2021
		Investments
		5
INovement on Unrestricted Unrestdicted General Fund	Funds 669,749	743,274	(345,937)	1,050,927	2,118,013
INovement on Restricted Funds ACE - Reserves 2,434,800			(1,383,873)	(1,050,927)
Coronavirus Job Retention Scheme Total Restricted Funds 2,434,600			(1,383,873)
Total Funds	3,104,549	743,274	(1,729,810)		2,118,013
Name ofRestricted Fund	Description,	Nature &Purpose ofthe Restricted Fund

nalysis of Net Asse	ts between F	unds
		Unrestricted	Restncted	2021	2020
		Funds	Funds
				E	E
Fixed Assets Debtors Cash at Bank and In	Hand	2,024,659 23,979 107,413		2,024,659 23,979 107,413	3,146,675 82,151 148,546
Creditors —Amounts Falling Due Within 1 Year Provision for Liabilities 8 Charges		(38,038) 2,118,013		(36,038) 2,118,013	(57,896) 215,127 3,104,549

Category		Property	Equipment
Operating	leases which expire:
Within one	year	4 74O 4,740