Digitally Signed Document Document ID: 61FCD0E286EBFA
## Document Details:
|**Filename:**|Arts Gateway - Full accounts.pdf|
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|**Client of:**|Ad Valorem Group|
## Signature Details
|**Name:**|Helen Potter|
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|**Email:**|helen.potter@artsgatewaymk.org.uk|
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|**Date & Time:**|19/12/2023 12:19:47 PM (GMT)|
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|**IP Address:**|86.157.89.33|
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|**Signing Statement:**|Helen Potter confirms that the information is
correct and complete to the best of their
knowledge and belief.|
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|**Name:**|John Best|
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|**Email:**|john.best@artsgatewaymk.org.uk|
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|**Date & Time:**|02/12/2023 22:53:07 PM (GMT)|
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|**IP Address:**|84.67.56.10|
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|**Signing Statement:**|John Best confirms that the information is
correct and complete to the best of their
knowledge and belief.|
Digitally Signed Document Document ID: 61FCD0E286EBFA
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|**On behalf of:**|Ad Valorem Group|
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|**PDF digital certificate:**|IRIS Software Group Limited|
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|**Digital certificate issued by:**|GlobalSign|
Please keep a copy of this document for your records.
**REGISTERED COMPANY NUMBER: 06602989 (England and Wales) REGISTERED CHARITY NUMBER: 1126872**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **FOR**
**ARTS GATEWAY MK LIMITED**
**ARTS GATEWAY MK LIMITED**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
||**Page**|
|---|---|
|**Reference and Administrative Details**|1|
|**Report of the Trustees**|2 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6 to 7|
|**Notes to the Financial Statements**|8 to 14|
|**Detailed Statement of Financial Activities**|15 to 16|
**ARTS GATEWAY MK LIMITED**
**REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023**
**TRUSTEES** J V Best M Mccauley (appointed 28/11/2022) (resigned 25/9/2023) D S Millis H R Page-Jones (appointed 22/8/2022) (resigned 25/9/2023) A Shaw J M Stewart M L Thomas-Asante (appointed 28/11/2022) R J Gillies (resigned 28/11/2022) C A Park (resigned 1/6/2022) B Brophy (resigned 1/8/2023) J Willis (appointed 25/9/2023) F Hameed (appointed 25/9/2023) **REGISTERED OFFICE** 18-20 Burners Lane Kiln Farm Milton Keynes Buckinghamshire MK11 3HB **REGISTERED COMPANY** 06602989 (England and Wales) **NUMBER REGISTERED CHARITY** 1126872 **NUMBER INDEPENDENT EXAMINER** Ad Valorem Accountancy Services Limited Chartered Certified Accountants 2 Manor Farm Court Old Wolverton Road Old Wolverton Buckinghamshire MK12 5NN
Page 1
**ARTS GATEWAY MK LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles, the Companies Act 2006and "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)" (as amended for accounting periods commencing from 1 January 2016).
## **Objectives and activities**
The charity's objects are to foster and develop the arts in the unitary council area of Milton Keynes and adjoining areas. To achieve this we carry out a range of activities including providing creative hubs for subscribing members, providing information and regular networking events in Milton Keynes and promoting and delivering creative programmes including MK Litfest, Changed World Art Zone and Festival of Nations, much of them perforce on-line. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
During the year we continued to develop our creative hub at 20, Burners Lane Kiln Farm, which we hold on a 12-year lease. Over the year we accommodated around 120 creatives in workspaces there, with up to 65 at any time. We continued with fundraising for, and construction of our new presentation space that when complete will allow public access to a wide range of public exhibition and performance, thus reinstating the programmes delivered from our previous premises. We continued MK Litfest online in the face of Covid, delivering a programme larger and more successful than initially planned, resourcing the programme from Litfest reserves and a small grant from MK Council. We continued our other on-line activities under lockdown, including the Changed World Art Zone Interactive gallery, and Live at the Kiln music streaming events in partnership with Community Arts Resources Centre. We remain active participants in AHA MK, the umbrella for MKs Arts and Heritage sector, and in the SEMLEP Creative and Cultural advisory group. And we collaborated with MK Play Association on delivering holiday arts schemes in disadvantaged parts of MK.
## **Financial review**
During the year incoming resources were £146,409 predominantly from our studios at Arts Central, and significant grants from the Arts Council, Garfield Weston Foundation and MK Council, an increase from £123,852 the year before. After capitalising the first two years of our building project for depreciation over the remaining ten years of the lease, our spending during the 2022/23 year was £151,038 compared to £134,128 the year before. We ended the year with balances of £86,089 being a reduction of £4,629 on the previous year.
## **Reserves Policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level that will meet aggregate expectations of liability, assessed by Trustees in 2018 as around £25k to be kept under review. This has again been fully achieved during 2022/23. The charity has restricted reserves from grants previously received to deliver specific projects, specifically at this point relating to the MK Literary Festival. Restricted funds for our presentation space from Arts Council England and MK Community Foundation have been fully expended. The Charity has no endowments or legacies.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Plans for the future**
Our plans for the future continue to revolve around three key issues:
- Improvement of our premises at Burners Lane. This will imminently enable access by the general public and reinstatement of creative programmes across multiple genres including art, dance, music and literature, where MK Litfest is our flagship;
- Development of a broader service to creatives both within Arts Central and in the wider community, to
Page 2
**ARTS GATEWAY MK LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
help people build sustainable practices within MKs cultural infrastructure;
- Maintenance of a higher profile across Milton Keynes, engaging a wider spectrum of stakeholders including business, building partnership and collaboration wherever possible.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, governance and management**
The charity is a company limited by guarantee, incorporated on 27 May 2008 in England and Wales, company number 06602989 and is governed by its Memorandum and Articles of Association, as amended on 11November 2008. The charity is registered with the Charity Commission on 24 November 2008.The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
J V Best B Brophy (resigned 01/08/2023) R J Gillies (resigned 28/11/2022) F Hameed (appointed 25/09/2023) M McCauley (appointed 28/11/2022, resigned 25/09/2023) D S Millis H R Page-Jones (appointed 22/8/2022, resigned 25/09/2023) C A Park (resigned 01/06/2022) A Shaw J M Stewart M L Thomas-Asante (appointed 28/11/2022) J Willis (appointed 25/09/2023)
Potential trustees with an interest in the arts and with skills to contribute to the charity's strategy and development are recruited from the local Milton Keynes community. The Memorandum and Articles of Association provide for up to 12 Trustees to be appointed by the Board, currently with no time limit on period served. The Board from time to time identifies skill gaps we would like filled. Where suitable candidates are identified they are invited to for an informal conversation and to observe at a board meeting. Incoming Trustees are required to accept the charity's policies and Trustee Duties,Responsibilities and Code of Conduct. The Board intends to increase the number of Trustees and ensure we remain fit for purpose going forward.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The company is managed by a board of unpaid trustees of up to 12 members who meet quarterly. Day to day management of operations is delegated to an office manager.
The Trustees' report report was approved by the Board of Trustees.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 1 December 2023 and signed on its behalf by:
J V Best - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARTS GATEWAY MK LIMITED**
## **Independent examiner's report to the trustees of Arts Gateway MK Limited ('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.
Tom Foot FCA (Honorary reporting Accountant)
Ad Valorem Accountancy Services Limited Chartered Certified Accountants 2 Manor Farm Court Old Wolverton Road Old Wolverton Buckinghamshire MK12 5NN
1 December 2023
Page 4
**ARTS GATEWAY MK LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
**----- Start of picture text -----**
2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 13,878 26,075 39,953 35,194
Other charitable activities 3 103,753 2,703 106,456 88,658
Total 117,631 28,778 146,409 123,852
EXPENDITURE ON
Raising funds 4 651 208 859 815
Charitable activities
Charitable activities 128,347 17,206 145,553 129,940
Other costs 4,444 182 4,626 3,373
Total 133,442 17,596 151,038 134,128
NET INCOME/(EXPENDITURE) (15,811) 11,182 (4,629) (10,276)
RECONCILIATION OF FUNDS
Total funds brought forward 79,824 10,894 90,718 100,994
TOTAL FUNDS CARRIED FORWARD 64,013 22,076 86,089 90,718
**----- End of picture text -----**
The notes form part of these financial statements
Page 5
## **ARTS GATEWAY MK LIMITED**
## **BALANCE SHEET 31 MARCH 2023**
**----- Start of picture text -----**
2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 79,455 - 79,455 83,221
CURRENT ASSETS
Debtors 10 25,600 - 25,600 27,824
Cash at bank 18,272 22,076 40,348 52,434
43,872 22,076 65,948 80,258
CREDITORS
Amounts falling due within one year 11 (4,814) - (4,814) (19,261)
NET CURRENT ASSETS 39,058 22,076 61,134 60,997
TOTAL ASSETS LESS CURRENT
LIABILITIES 118,513 22,076 140,589 144,218
CREDITORS
Amounts falling due after more than one year 12 (54,500) - (54,500) (53,500)
NET ASSETS 64,013 22,076 86,089 90,718
FUNDS 14
Unrestricted funds 64,013 79,824
Restricted funds 22,076 10,894
TOTAL FUNDS 86,089 90,718
**----- End of picture text -----**
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
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
**ARTS GATEWAY MK LIMITED**
## **BALANCE SHEET - continued 31 MARCH 2023**
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 1 December 2023 and were signed on its behalf by:
J V Best - Trustee
The notes form part of these financial statements
Page 7
**ARTS GATEWAY MK LIMITED**
**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.
Land and building - 10% on cost Fixtures and fittings - 25% 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 explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **GOING CONCERN**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Page 8
continued...
**ARTS GATEWAY MK LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **2. DONATIONS AND LEGACIES**
|Other grant income
Donations
**3.**
**OTHER CHARITABLE ACTIVITIES**
Venue hire fees
Membership fees
Other income
**4.**
**RAISING FUNDS**
**RAISING DONATIONS AND LEGACIES**
Advertising & marketing|**2023**
**£**
31,301
8,652
39,953
**2023**
**£**
100,275
1,584
4,597
106,456
**2023**
**£**
859||**2022**
**£**
29,835
5,359
35,194
**2022**
**£**
77,300
2,028
9,330
88,658
**2022**
**£**
815|
|---|---|---|---|
## **5. NET INCOME/(EXPENDITURE)**
Net income/expenditure is stated after charging depreciation of £16,203 (2022: £10,297).
## **6. 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 nor for the year ended 31 March 2022.
## **7. EMPLOYEES**
The average monthly number of employees during the year was 1 (2022- 1).
Page 9
continued...
**ARTS GATEWAY MK LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
**----- Start of picture text -----**
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 16,043 19,151 35,194
Other charitable activities 88,658 - 88,658
Total 104,701 19,151 123,852
EXPENDITURE ON
Raising funds 545 270 815
Charitable activities
Charitable activities 96,892 33,048 129,940
Other costs 3,177 196 3,373
Total 100,614 33,514 134,128
NET INCOME/(EXPENDITURE) 4,087 (14,363) (10,276)
RECONCILIATION OF FUNDS
Total funds brought forward 75,737 25,257 100,994
TOTAL FUNDS CARRIED FORWARD 79,824 10,894 90,718
9. TANGIBLE FIXED ASSETS
Fixtures
Land and and
building fittings Totals
£ £ £
COST
At 1 April 2022 77,083 37,399 114,482
Additions - 12,438 12,438
At 31 March 2023 77,083 49,837 126,920
DEPRECIATION
At 1 April 2022 20,748 10,513 31,261
Charge for year 7,709 8,495 16,204
At 31 March 2023 28,457 19,008 47,465
NET BOOK VALUE
At 31 March 2023 48,626 30,829 79,455
At 31 March 2022 56,335 26,886 83,221
**----- End of picture text -----**
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continued...
**ARTS GATEWAY MK LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
**----- Start of picture text -----**
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 5,569 5,310
Other debtors 7,398 10,148
Prepayments 12,633 12,366
25,600 27,824
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 2,015 16,083
Social security and other taxes 183 88
Other creditors 2,616 107
-
Accrued expenses 2,983
4,814 19,261
12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Other loans (see note 13) 54,500 53,500
Fixed rate 2% unsecured loan notes payable in 5 years.
13. LOANS
An analysis of the maturity of loans is given below:
2023 2022
£ £
Amounts falling due in more than five years:
Repayable otherwise than by instalments:
Other long term loans 54,500 53,500
14. MOVEMENT IN FUNDS
Net
movement At
At 1/4/22 in funds 31/3/23
£ £ £
Unrestricted funds
General fund 79,824 (15,811) 64,013
Restricted funds
Restricted fund 10,894 11,182 22,076
TOTAL FUNDS 90,718 (4,629) 86,089
**----- End of picture text -----**
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continued...
**ARTS GATEWAY MK LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **14. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
117,631
**Restricted funds**
Restricted fund
28,778
**TOTAL FUNDS**
146,409
**Comparatives for movement in funds**
**At 1/4/21**
**£**
**Unrestricted funds**
General fund
75,737
**Restricted funds**
Restricted fund
25,257
**TOTAL FUNDS**
100,994
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
104,701
**Restricted funds**
Restricted fund
19,151
**TOTAL FUNDS**
123,852|**Resources**
**expended**
**£**
(133,442)
(17,596)
(151,038)
**Net**
**movement**
**in funds**
**£**
4,087
(14,363)
(10,276)
**Resources**
**expended**
**£**
(100,614)
(33,514)
(134,128)|**Movement**
**in funds**
**£**
(15,811)
11,182
(4,629)
**At**
**31/3/22**
**£**
79,824
10,894
90,718
**Movement**
**in funds**
**£**
4,087
(14,363)
(10,276)|
|---|---|---|
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continued...
**ARTS GATEWAY MK LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **14. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Net**
**movement**
**At 1/4/21**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
75,737
(11,724)
**Restricted funds**
Restricted fund
25,257
(3,181)
**TOTAL FUNDS**
100,994
(14,905)|**At**
**31/3/23**
**£**
64,013
22,076
86,089|
|---|---|
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**
Restricted fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
222,332
47,929
270,261|**Resources**
**expended**
**£**
(234,056)
(51,110)
(285,166)|**Movement**
**in funds**
**£**
(11,724)
(3,181)
(14,905)|
|---|---|---|---|
## **15. RELATED PARTY DISCLOSURES**
During the year the charity entered into the following transactions with related parties:
J Best, a trustee of the charity, was reimbursed for expenses totalling £307 (2022: £66) incurred on behalf of the charity for property maintenance, property relocation, event costs and general supplies.
During the year donations of £3,550 were made by John Best, a trustee to the charity. Darren Mills, a trustee also made donations of £500 to the charity.
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continued...
**ARTS GATEWAY MK LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **16. RESTRICTED FUNDS**
Restricted funds balance as of 31 March 2023 consist of the following:
Community Arts Resource Centre £5,398, Box £1,821, Literature Festival £10,627 and Studio Builds £4,230.
Page 14
**ARTS GATEWAY MK LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
**----- Start of picture text -----**
2023 2022
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Other grant income 31,301 29,835
Donations 8,652 5,359
39,953 35,194
Other charitable activities
Venue hire fees 100,275 77,300
Membership fees 1,584 2,028
Other income 4,597 9,330
106,456 88,658
Total incoming resources 146,409 123,852
EXPENDITURE
Raising donations and legacies
Advertising & marketing 859 815
Charitable activities
Wages 13,053 12,800
Rent 50,602 50,937
Telephone 2,710 1,466
Computer costs 2,086 585
Venue hires 19,561 38,730
Insurance 8,121 7,220
Property costs 30,523 3,810
Subscriptions & renewals 388 310
Postage and stationery 699 285
Repairs and maintenance 595 382
General expenses 349 2,505
Depreciation 16,203 10,298
144,890 129,328
Other costs
-
Staff training 1,152
Bad debts 1,530 1,759
Bank charges 944 614
Loan interest 1,000 1,000
4,626 3,373
Support costs
**----- End of picture text -----**
This page does not form part of the statutory financial statements
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**ARTS GATEWAY MK LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
**----- Start of picture text -----**
2023 2022
£ £
Support costs
Governance costs
Governance costs 663 612
Total resources expended 151,038 134,128
Net expenditure (4,629) (10,276)
**----- End of picture text -----**
This page does not form part of the statutory financial statements
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