|
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|| ## ## ##