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The Edge Theatre and Arts Centre (Waters Edge Arts Ltd) EL Theatre and Arts Centre Company Number 6758847 Charity Number 1128608
Trustees’ Report 1st April 2022 - 31st March 2023
Waters Edge Arts Ltd
Report of Directors for the year ended 31*t March 2023
The Directors present their annual report and the unaudited financial statements for the year ended 31° March 2023.
Reference and Administrative Information
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|---|---|---|---|---|---|---|---|
|Charity Name|Waters|Edge|Arts|Ltd|
|Charity|Registration|Number|1128608|
|Company|Registration|Number|6758847|
|Registered|Office|The|Edge Theatre|&|Arts|Centre|
|Manchester|Road|
|Manchester|
|M21|9JG|
|Directors|Jonathan|Patric GILCHRIST|-|Chair|-|(appointed|8/2/21)|
|Akintayo|Olutosin|Ayoola|AKINBODE|(appointed|8/3/21)|
|Rupert|Sinclair|HILL|(appointed|7/12/20)|
|Cllr.|Eve|HOLT|(appointed|10/12/18)|
|Paula|Louise|RABBITT|(appointed|1/11/18)|
|Wyllie|LONGMORE|(appointed|3/6/16|-|resigned|2/11/22)|
|Principal|Staff|Janine|Waters — CEO|/|Artistic|Director|
|Independent|Examiner|Tina|Hawley|FCA|
|Quickmere|Consulting|Ltd|
|2|Huddersfield|Road|
|Stalybridge|SK152QA|
|Bankers|Barclays|Bank|PLC|
|Bury|Business|Centre|
|PO|Box|33|
|Silver|Street|
|Bury|BL9|ODJ|
|Secretary|Janine WATERS|(appointed|1/1/13)|
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Background
Since its opening in 2011, The Edge has been a thriving and accessible cultural hub, creating and presenting high-quality theatre and performance, and delivering a rich programme of meaningful and potentially life-changing participatory activities.
‘Alongside the excellent work on stage, there’s good stuff happening throughout the organization, with a participation programme as inclusive as it is ambitious’
Rob Martin, Time Out.
In 2021 The Edge celebrated its 10" year as Manchester’s Theatre for Participation. Our beautiful venue has entertained, captivated and enthralled audiences with some of the best ~ small-scale touring theatre in the country, alongside our own productions made by our wonderful in-house creatives.
Over the years we’ve worked with hundreds of fantastic actors and musicians; many are professional, some have learning disabilities, some have experience of homelessness, some are from our local community. As theatre makers we delight in creating shows which reflect the world that we live in, even if we’ve set them on the moon. They’re honest, relevant and always full of hope.
As a Manchester Cultural Partner, we play a vital role in the cultural offer of the city. As leaders in participation, we provide a range of exciting opportunities for people to be creative. At The Edge you can Act, Sing, Dance, play the Ukulele, Write, Paint, Draw or just be. Our café is known as one of the most friendly and welcoming in Chorlton!
We are founding members of Greater Manchester Small Venues Network (GMSVN), members of Manchester’s Cultural Engagement and Cultural Leaders Networks anda significant part of the city’s cultural landscape. We are members of Venues North and Future Arts Centres, connecting us to the cultural offer across the North of England and our Artistic Director is the co-chair of the Arts & Homelessness Network.
The Edge seeks out opportunities to collaborate and we look forward to growing the relationships with the organisations that we have entered partnerships with over the coming years as well as seeking out new opportunities to collaborate.
Vision, Mission, and Values
In our business plan for the period April 2020 - March 2023, our vision, mission, and values are described as being:
Vision
At the Edge Theatre and Arts Centre, we strongly believe that everyone should have access to high-quality culture as a basic human right. Arts and Culture give people the opportunity to reach their full creative potential and to lead fulfilling lives. Engagement in the arts can offer
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personal fulfilment and promote community cohesion and purpose. Consequently, it engenders a sense of both personal pride and pride in where we live. It offers personal and societal enrichment.
Mission
Based in Chorlton in the City of Manchester, The Edge will be recognised as a valuable arts resource for the people of Manchester and beyond. It will be known for providing high-quality, accessible, and relevant artistic activity for as wide a range of people as possible, bringing communities together in a welcoming and creative environment.
The Edge will advance the education of the public in the arts, particularly theatre, by encouraging and promoting involvement in theatre and related artistic and creative activities by any member of the public, particularly those deemed to be disadvantaged, vulnerable, or hard to reach.
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Values
The Edge will fulfil its vision and mission by:
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e Working cooperatively, openly, and transparently, respecting and supporting the talents and aspirations of its staff, freelance practitioners, volunteers, and participants
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e Offering equality of opportunity to all
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e Offering a creative and nurturing working environment
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e Developing honest and open relationships with partner organisations and other stakeholders, valuing the knowledge, experience and skills brought by them.
Aims and Objectives
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Our principal aims and objectives are fully described in our Business Plan 2020-23 and are to: 1. Re-establish levels of engagement to those associated with The Edge’s activities pre-COVID 19 restrictions.
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Maintain and develop The Edge as a vibrant cultural resource in Chorlton through offering classes and courses and making participatory work with vulnerable and excluded people; concentrating on the existing programmes with The Booth Centre Theatre Company, the Aspire programme, the Community Arts Club, and the participatory work with learning disabled adults. 3. Support the development of emerging and mid-career artists and companies through Made at the Edge, through practitioner paid apprenticeships, and continuing professional development for actors/musicians and theatre-makers. 4. Present a programme of professionally produced theatre at The Edge, by hosting visiting small-scale touring theatre companies and by creating two professional in-house theatre productions to be presented at The Edge and on tour 5. Maintain and develop the Dressing Room Café and Bar as a training resource for learning disabled adults.
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Deliver a programme of participatory theatre for and promote attendance at cultural events by people living in Mersey Bank and Arrowfield as part of the new My Edge initiative.
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Improve our sustainability and resilience as an organisation. We will take full advantage of our facilities, seeking capital funds to improve our building, promoting engagement from more people and greater opportunities to earn income from classes, performances and The Dressing Room Café and Bar.
Our Staff Team
During the reporting period our core team was made up of:
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e Artistic Director/Chief Executive Officer
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e Executive Director
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e Volunteers Manager/Duty Manager
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e Chef/Café Manager
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e Learning Mentor/Duty Manager
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e Musical Director
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e Technician/Duty Manager
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e Cleaner
Of these posts, the Artistic Director, Volunteers Manager, Chef and Learning Mentor work fulltime.
These people were supported by a freelance team made up of:
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e An Accountant
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e A Marketing Assistant
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e A Fundraiser
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e Arts facilitators
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e Artists, Actors, Designers, Stage Managers, Technicians
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e Casual Baristas
Volunteers
The Edge offers many opportunities for people to volunteer and support our work. People help us by:
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e Making up our front-of-house team
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e Project support
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e Undertaking gardening and woodwork
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e Supporting others
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e Making up our Board of Trustees
The Edge has a dedicated team of around over 20 volunteers who carry out a range of duties to support the operation of the charity. During the year they were supported by a Volunteer Coordinator, with responsibility of seeking out additional volunteers, especially those with complex needs, whom other organisations might not support.
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Our Programme of Activity April 2022 to March 2023
The Edge is a thriving and accessible arts centre and reaches out to both its local community and the wider Greater Manchester audience. It also specifically targets people who are disadvantaged or hard to reach with bespoke participatory programmes of work. During the period 1° April 2022-315 March 2023, 602 people took part in an arts activity at The Edge each week.
During the period 510 days work was created for freelance practitioners.
Working Alongside Young People & Adults With Learning Disabilities
“A lot of people tell us what our limits are, but the Edge is limitless” Sian, Actor & Dancer at The Edge
Alongside our professional theatre provision we delivered a comprehensive participatory theatre & arts programme, continuing to run long-term projects with vulnerable adults and young people. This work changes the lives of our actors and participants.
We ran an extensive programme of work for adults and young people with learning disabilities, at The Edge and at The Shaw Centre in Cheetham Hill, which is core to our founding principles. ‘This included weekly acting and dance workshops resulting in an annual stage production, working alongside professional performers.
Our award-winning work-based training for LD adults in hospitality and front of house, ran every day of the week, throughout the year. Over the 12 months covered in this report, we worked with 60 learning disabled dancers and actors in our theatre programme, led by highly experienced specialist facilitators and 30 trainees in our cafe and on the reception desk, as part of our bespoke one-to-one training delivered by The Edge’s Learning Mentor.
Our work provided opportunities for people to develop their independent living skills and coping strategies, gain greater emotional intelligence and resilience, and to be able to make positive choices about the everyday things that affect their lives.
Learning disabled participants at The Edge develop communication and interpersonal skills, reduce their sense of social isolation and not belonging and become part of The Edge ‘family’. They improve their self-esteem and confidence, speaking and listening, presentation and performance skills and most importantly, they come to The Edge to have fun!
Our programme of work-based training for adults with learning disabilities saw 720 hours of one-to-one training delivered over the year, with 30 individuals graduating from the programme. Of these 30, 60% have revisited The Edge since their placement either for a class, show or social event and 37% have taken part in dance and/or drama classes. 100% of participants told us that their placements were positive and enriching experiences.
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We continued to run a steering group of 5 participants from across the programme of work, who met regularly to discuss ideas and opportunities and helped us to shape our work.
In September 2022, ten of our learning-disabled performers appeared in a specially commissioned new play, And in the Centre, Me. As with all our participatory theatre, the production included professional actors and incorporated high production values, giving our LD actors and dancers a genuine, first-hand experience of being in a professional production, with all that entails. These brilliant performers undertook concentrated and focused work, rising to the challenge and achieving way beyond the usual limits that are often set for learning disabled people.
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Working Alongside Adults Who Are At Risk Of Homelessness
We have worked in partnership with The Booth Centre for 13 years, delivering drama projects in Cheetham Hill and developing The Booth Centre Theatre Company.
For 48 weeks of the year, we ran Acting For Fun & Confidence in partnership with The Booth Centre for rough sleepers with profound complex needs. These were drop-in sessions and once participants have attended regularly for 6 months they are invited to join The Booth Centre Theatre Company. For some participants this was the aim, for some the drop-in sessions are their focus. The Booth Centre Theatre Company is our resident performance company of actors with lived experience of homelessness. This company produced two shows this year, working alongside professional actors and musicians. The productions provided opportunities for friends, family, others with experience of homelessness and the staff that supported them to see participants achieve. Our work profiles the impact of making theatre with vulnerable adults and challenges the public’s perception of a person who has found themselves homeless. It proves that there is so much more to people than their current situation.
Our Work With The Wider Community
We continued to run a year-round programme of activities for young people and adults in the community, with classes from acting to ukulele, dancing to singing. Over the year 115 individuals have attended 188 of these classes. These often provide a lifeline to participants.
“It’s been great for my physical health — I’ve actually managed to stabilise my osteoporosis through the dancing that I’ve done there — and, more importantly, it’s essential for my mental health as it is for so many of the members. I’m so grateful that this class exists and that | have access to it—and that my errant bones and muscles are currently under control enough for me to enjoy dancing again!”
Community Class Participant
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Making and Presenting Original Theatre Productions
We produced 2 shows through our partnership with the Booth Centre: The Team and She’s Not The Queen, She’s A Very Naughty Girl, where performers with lived experience of homelessness worked alongside professional actors, designers, directors & crew. Each production incorporated newly-commissioned scripts & original music. Community actors benefitted from working alongside experienced professionals, enabling them to develop their acting & performance skills.
The performers, who face significant challenges in their lives, had a significant shift in selfesteem. Many have had few opportunities to experience a sense of achievement. Being part of a professionally staged production & seeing it through to its successful completion has a profound effect. This model was replicated in our work with people with learning disabilities. Actors & Dancers in the performance companies worked with professional performers, directors, choreographers & designers on And In The Centre, Me.
We produced our topical musical sketch show That Sketch Show in July, October and March.
“A surreal slice of experimental, that is otherwise sorely missing from Manchester’s theatre scene” The Reviews Hub
“A superb satirical showcase that incorporates comedy in every shape & form: from one-liners to full on musical turns” Manchester Wire
As a receiving house we programmed three seasons which were carefully curated to attract both new and existing audiences. We welcomed 24 visiting companies into our theatre over the year, with 79 performances from companies including Untied Artists, Attic Theatre, Lempen Puppet Theatre, Ladies That Dig, Luke Wright and Queerdog Theatre. We welcomed 4498 audience members to these shows, with 70% of these people coming from outside Chorlton, and 6% coming from outside the North West.
This programme is augmented and complemented by a series of musical presentations, comedy nights and quiz nights, based in and around The Theatre and The Dressing Room Café Bar.
Professional Training and Development
The Edge is committed to supporting early career theatre companies and practitioners. Made at The Edge is our programme which was set up to develop and support new ideas and exciting theatre by offering tailored support for these individuals. During 22/23 we supported 8 artists and companies by offering regular support Edge staff, space in kind, financial investment, development opportunities and performance space.
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“Partnering with The Edge has been an incredible opportunity for us at MAYT. Having the support and complete trust ofsuch an incredible venue has given us a real push to trust in ourselves as young creatives and put our all into our productions.” MAYT, An Edge Associate
Company
Evaluation
We use a variety of methods to measure and evaluate the impact and success of our work. This includes monitoring the following data:
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e Number of attendances
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e Number of repeat visits
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e Press reviews — digitally, locally, and nationally
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e Audience comments from foyer comments books, Twitter, Facebook, other social media and through feedback given directly to operational staff
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e Practitioner, artist, actor feedback
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e Participants’ review, through end-of-project evaluation meetings and methods appropriate to each group. ;
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e Peer Reviews
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e Case studies, associated with specific pieces of work
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e Review by board members and discussion of programme at board meetings.
Funding
During this reporting period The Edge has been supported by public bodies, charities, trusts, foundations, and individual and corporate donors. The Edge received grants from:
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e Arts Council England
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e The Booth Centre
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e The Co-op Local Community Fund
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e The Evan Cornish Foundation
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e Manchester City Council
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e The National Lottery Community Fund
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e Bernard Sunley Foundation
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e The Garfield Weston Foundation
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e The AG Foundation
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e The Henry Smith Charity
Review of Principal Risks
As a charity The Edge relies on the income from fees, ticket sales, room rental and café takings alongside grants to cover running costs. By charging those who can afford it, the charity is able to provide free or heavily subsidised activities and performances for those who can't.
Consequently, the charity can be vulnerable to a reduction in sales, especially in the current financial downturn and a precarious economic climate for arts provision.
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The charity's operations are reviewed monthly, and expenditure is directly related to income. We continually review our participatory activities and theatre productions to ensure that we are providing a programme that will appeal to our regular customers, as well as widening participation and attendance through a commitment to diverse programming.
The charity maintains its reliance on the continuing support of grant-awarding bodies and trusts and foundations and is aware that this funding may suffer a downturn considering the current economic crisis. The Executive Director will continue to work with the CEO to diversify income streams and will aim to increase earned income to further support our charitable activities.
The Edge is dependent on the skills and knowledge of a small number of senior staff and the charity has worked to mitigate this risk by introducing a system of annual staff appraisals to ensure that staff are happy, and that there are appropriate opportunities for professional development.
We continue to aim to increase our capacity, utilising more fully all the potential incomegenerating aspects of our beautiful Victorian building and exploiting the talent and creativity of our workforce.
We anticipate our business will continue to grow through:
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e Increased programming of events in the building, including comedy, music, cabaret and spoken word performance and the subsequent increased sales from the bar and café.
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e Increased participatory activity with more and different people.
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e Increased programming of fee-paying classes, by increasing progression routes within the organisation. Evidence suggests that this has increased the footfall to our café.
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e Proactively developing new fundraising initiatives: encouraging individual giving, developing existing and new relationships with trusts and foundations; exploring sponsorship opportunities.
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e Developing our room rental portfolio through a concerted and targeted marketing campaign to appeal to those seeking space for conferences and weddings and other events where catering is required.
Board of Trustees’ view:
It is the view of the Board of Trustees of Waters Edge Arts Ltd. that the activities carried out during the period 1st April 2022 to 31st March 2023 fulfilled the principal specific aims of the programme outlined above. The activity of the charity therefore offers public benefit as it advances appreciation of the performance and participatory events offered to beneficiaries during the year, provides diverse educational opportunities and facilitates social integration by providing opportunities for people from different backgrounds to participate in artistic activities together.
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Public Benefit
In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on public benefit and the charging of fees. The charity relies on the income from grants and from fees and charges accordingly to cover its operating costs.
In setting the level of fees and charges, principally the price of tickets for theatre shows, the Trustees consider the accessibility to activities for those on low incomes, offering the majority of its tickets at discounted rates.
Analysis of Public Benefit
The types of benefit that the charity promotes are to:
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e Advance attendance at, and therefore advance appreciation of a variety of performance events, including drama, dance, and music-making by beneficiaries.
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e Advance participation in, and therefore advance appreciation of participating in a variety of artistic forms, including drama, dance, writing, music-making, crafts, and digital arts by beneficiaries.
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e Provide educational opportunities for beneficiaries through specific training programmes and through the offer of participation, or attendance at artistic events.
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e Facilitate social integration and cohesion by providing opportunities for people from different backgrounds to participate in artistic activities together, fostering a better understanding of each other’s cultures.
Programmes of activity are open to the general public, but beneficiaries of The Edge programme and participatory work are usually resident in the North West region of England and predominantly live within City of Manchester.
During the period 1st April 2022 to 31st March 2023, 59% of audience members came from Manchester, 30% came from Greater Manchester, 5% from the North West (excluding Greater Manchester) and 6% from outside the North West.
Environmental Responsibility
The Edge is a member of MAST (Manchester Sustainability Team) and has a designated Environmental Sustainability Officer, who undertakes to minimise our environmental load as much as possible. The theatre has a policy of working with a high proportion of locally based suppliers, practitioners, and actors, minimising the environmental impact of transportation. It continues to monitor energy utilisation on site, making what adjustments are possible.
Statement of the Board of Trustees’ Responsibilities
The Board of Trustees are responsible for overseeing the preparation of the Annual Report and the financial statements in accordance with applicable law and regulations.
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The Trustees is required to oversee the preparation of financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of its incoming resources and application of the charity for that period. In preparing these financial statements, the trustees are required to:
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e Select suitable accounting policies and apply them consistently
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e Make judgements and estimates that are reasonable and prudent
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e State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
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e Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business
The Trustees.are responsible for overseeing the filing of proper accounting records that disclose with reasonable accuracy, at any time, the financial position of the charity and to enable them to ensure the financial statements comply with the Companies Act 1985. They are also responsible for ensuring the safeguarding of the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Chair Se Jon Gilchrist
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Waters Edge Arts Ltd
Statement of Financial Activities
(including Income and Expenditure account) for the 12 months ended 31 March 2023
| Unrestricted | Unrestricted | Restricted | 2022/23 | ||
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | £ | |||
| Incoming Resources | |||||
| Show Income | 74,196 | 3,324 | 77,520 | ||
| Earned Income | 39,536 | 39,536 | |||
| Project Income | 27,602 | 135,996 | 163,598 | ||
| Other Restricted Income | 6) | 43,321 | 43,321 | ||
| Unrestricted Income | 60,874 | 60,874 | |||
| Café Income | 68,340 | 68,340 | |||
| Other Income | 64 | 64 | |||
| Total incoming resources | 270,611 | 182,641 | 453,252 | ||
| Direct Expenses | |||||
| Show Costs | 38,280 | 14,298 | 52,578 | ||
| Trading Expenses | 10,768 | 10,768 | |||
| Project Costs | : | 6) | 45,087 | 45,087 | |
| : | Café Expenses | 49,298 | 49,298 | ||
| Other Direct Expenses | 0 | 0 | |||
| ; | 98,346 | 59,385 | 157,731 | ||
| Operating Overheads | |||||
| Employee Costs | 48,020 | 109,843 | 157,863 | ||
| Freelancers | 17,122 | 17,122 | |||
| Marketing & Promotion | 11,785 | 11,785 | |||
| Premises Costs | 41,104. | 4,000 | 45,104 | ||
| Office & IT expenses | 5,963 | 5,963 | |||
| Legal & Professional Costs | 8,217 | 8,217 | |||
| Financial & Other Expenses |
10,870 | 39,321 | 50,190 | ||
| Total expenditure | 241,427 | 212,549 | 453,975 | ||
| Net incoming/(outgoing) resources fortheyear | 29,184 | (29,908) | (723) | ||
| Total funds brought | forward | 137,925 | 41,974 | 179,899 | |
| Totalfundscarriedforward | 167,109 | 12,066 | 179,176 |
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Waters Edge Arts Ltd Company no. 5288784
Balance Sheet as at 31 March 2023
| 31-Mar-23 | 31-Mar-22 | |||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Fixed assets | ||||||
| Tangible assets | 66,625 | 95,283 | ||||
| Current assets | ||||||
| Debtors | 3,333 | 5117 | ||||
| Cash at bank and in hand | 118,621 | 119,590 | ||||
| 121,955 | 124,707 | |||||
| Creditors: amounts falling | ||||||
| due in less than one year | (9,404) | (17,973) | ||||
| Deferred Grant Income | 0 | (22,118) | ||||
| Netcurrent assets | 112,551 | 84,616 | ||||
| Total assets less current liabilities | ° | 179,176 | 179.899 | |||
| Creditors: amounts falling | ||||||
| due after more than one year | 0 | 0 | ||||
| Total net assets | 179,176 | 179,899 | ||||
| The funds ofthe charity: | ||||||
| Unrestricted reserves brought forward | 137,925 | . | 64,849 | |||
| Restricted reserves brought forward | 41,974 | 26,729 | ||||
| Currentyearsurplus/deficit - unrestricted | 29,184 | 73,076 | ||||
| Currentyearsurplus/deficit - restricted | (29,908) | 15,245 | ||||
| Current yearsurplus /(deficit) |
(723) | $8,321 | ||||
| Totalfunds | 179,176 | 179,899 |
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Waters Edge Arts Ltd
Notes to the accounts for the year ended 31 March 2023
1
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|Accounting|policies|
|The|principal|accounting|policies|adopted|in|the|preparation|of the|financial|statements|are|set|out|below.|They|have|been|applied|consistently|during the|
|year,|and|in|the|preceding|year.|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|a|Basis|of|preparation|
|The|financial|statements|have|been|prepared|under the|historic|cost|convention|and|in|accordance|with|the|Companies|Act|2006,|the|Statement|of|
|Recommended|Practice|- Accounting|and|Reporting|by|Charities|FRSSE|version|(effective|January|2015).|
|b|Going|concern|
|The|trustees|consider that there|are|no|material|uncertainties|about|the|charitable|company's|ability|to|continue|as|a|going|concern.|The|charity|
|has|experienced|a|challenging|last few|months,|however|it|has|and|is|undergoing|a|process|of|improving|its|systems.|Income|stream|since|31|
|August|2016|indicate|that|the|charity|is|able|to|generate|revenue|to|be|a|going|concern.|
|(a|Fund|accounting|
|°|Unrestricted|funds|are|available|for|use|at|the|discretion|of the|trustees|in|furtherance|of the|general|objectives|of the|charity.|
|°|Restricted|funds|are|subjected|to|restrictions|on|their|expenditure|imposed|by the|donor|or|through|the terms|of an|appeal.|
|d|Incoming|resources|
|All|incoming|resources|are|included|in|the|Statement|of|Financial|Activities|when|the|charity|is|entitled|to|the|income|and|the|amount|can|be|
|quantified|with|reasonable|accuracy.|The|following|specific|policies|are|applied|to|particular|categories|of|income:|
|Voluntary|income|is|received|by way|of|grants,|donations|and|gifts|and|is|included|in|full|in|the|Statement|of|Financial|Activities|when|receivable.|
|Grants,|where|entitlement|is|not|conditional|on|the|delivery|of a|specific performance|by the|charity,|are|recognised|when|the|charity|becomes|
|°|unconditionally|entitled|to|the|grant.|
|Donated|services|and|facilities|are|included|at|the|value|to|the|charity where|this|can|be|quantified.|The|value|of services|provided|by|volunteers|
|.|has|not|been|included|in|these|accounts.|
|°|Investment|income|is|included|when|receivable.|
|°|Incoming|resources|from|charitable|trading|activity|are|accounted|for when|earned.|
|Incoming|resources|from|grants,|where|related|to|performance|and|specific|deliverables,|are|accounted|for|as|the|charity|earns|the|right|to|
|°|consideration|by|its|performance.|
|e|Resources|expended|
|Expenditure|is|recognised|on|an|accrual|basis whena|liability|is|incurred.|Expenditure|includes|any VAT which|cannot be|fully|recovered,|and|is|
|included|as|part|of|the|expenditure|to|which|it|relates.|
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Waters Edge Arts Ltd
Notes to the accounts
for the year ended 31 March 2023
1 Accounting policies (continued)
f Operating leases
Rentals payable under operating leases, where substantially all the risks and rewards of ownership remains with the lessor, are charged to the Statement of Financial Activities in the year in which they fall due.
g Tangible fixed assets
Fixed assets are stated at cost less accumulated depreciation. Individual items costing less than £500 are not capitalised.
Tangible fixed assets are depreciated on a straight line basis over their estimated useful lives as follows: Asset Category Annual rate Improvements to premises 10% Office furniture & equipment 25% Computer equipment & software 33.3%
h
Pensions
The charitable company contributes to defined contribution pension schemes on behalf of its employees. The assets of these schemes are entirely separate to those of the charity. The pension cost shown represents contributions payable by the charity on behalf of the employees. There were contributions outstanding / (prepaid) at the balance sheet date of £nil (2022: Enil).
:
i
Cash flow statement
The charity has taken advantage of the exemption in Financial Reporting Standard 1 from preparing a Cash Flow Statement on the grounds that it is a small charitable company.
Page 16
Waters Edge Arts Ltd
2
Notes to the accounts
for the year ended 31 March 2023
Incoming resources
| resources | |
|---|---|
| Total 2023 | |
| : | |
| £ | |
| Show income | |
| Show Income - That Sketch Show | 7,705 |
| Show Income - The Books | 35,000 |
| Show Income- This Is Chorlton Calling (Again) | 314 |
| Show Income - Visiting Company Shows | 34,501 |
| 77,520 | |
| Earned income | |
| Earned income - Classes & Courses | 19,005 |
| Earned income -Venue Hire | 20,532 |
| 39,536 | |
| Project income | |
| Learning Disability Programme | 110,112 |
| Booth Centre Programme | 39,089 |
| Volunteer Programme | 0 |
| Community Arts Club | 12,896 |
| Visual Arts Programme | 1,500 |
| 163,598 | |
| Other restricted income | |
| Restricted CapitalGrants | 25,123 |
| Restricted Grants - Other | 18,198 |
| 43,321 | |
| Unrestricted income | |
| Unrestricted Grants | 40,000 |
| Donations | 20,874 |
| 60,874 | |
| Café income | 68,340 |
| Other income | |
| Other income | ie) |
| Bank interest receivable | 64 |
| 64 | |
| TOTALINCOME | 453,252 |
Page 17
Waters Edge Arts Ltd
Notes to the accounts
for the year ended 31 March 2023
|3|Expenditure
|||||||
|---|---|---|---|---|---|---|
|||||||Total 2023|
|||||||£|
||Show costs||||||
||Show Costs -That Sketch Show|||||17,582|
||Show Costs -The Books|||||300|
||Show Costs - This Is Chorlton Calling (Again)|||||732|
||Show Costs - Visiting Company Shows|||||33,965|
|||||||52,578|
||Trading expenses||||||
||Trading expenses - Classes & Courses|||||10,311|
||Trading expenses -Venue Hire|||||457|
|||||||10,768|
||Project costs||||||
||Learning Disability Programme|||||25,127|
||Booth Centre Programme||||,|13,471|
||Volunteer Programme|||||35|
||Community Arts Club|||||830|
||Visual Arts Programme|||||5,624|
|||||||45,087|
||Café expenses||||||
||Café purchases|||||25,025|
||Baristas|||||24,273|
|||||||49,298|
||Other direct expenses||:|||(0)|
||TOTAL DIRECT EXPENSES|||||157,731|
||Employee costs||||||
||Employee salaries|~||||146,462|
||Employer's NI|||||6,461|
||Employer's Pension|||||2,959|
||SSP/SMP/SPP|||||(e}|
||StaffTraining|||‘||850|
||Employee benefits|||||0|
||Staffentertainment & parties|||||853|
||Staff travel expenses|||||174|
||Other staff costs|||||104|
|||||||157,863|
||Freelancers||||||
||Freelancers - Fundraising|||||9,167|
||Freelancers - Duty Manager|||||3,592|
||Freelancers
- Management & Finance|||||2,500|
||Freelancers - Marketing|||||1,000|
||Freelancers - Other|||||864|
|||||||17,122|
Page 18
Waters Edge Arts Ltd
Notes to the accounts for the year ended 31 March 2023
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|||||||
|---|---|---|---|---|---|
|Marketing|&|promotion|
|Marketing|12,280|
|Advertising|;|0|
|PR|e}|
|Party|&|event|hosting|120|
|Licences|(795)|
|Subscriptions|151|
|Publications|29|
|Marketing|&|promotion|-|Other|fe)|
|11,785|
|Premises|costs|
|Rent and|rates|14,480|
|Utilities|11,752|
|Cleaning|279|
|Repairs|&|maintenance|13,600|
|Insurance|3/373|
|Other|premises|expenses|1,620|
|45,104|
|Office|&|IT|expenses|
|Telephone|&|mobile|costs|103|
|Internet|costs|874|
|Website|maintenance|648|
|Stationery,|postage|&|packaging|289|
|Furniture|&|equipment|2,698|
|Motor|expenses|0|
|Other|office|&|IT|expenses|1,350|
|5,963|
|Legal|&|professional|costs|
|Accountancy|fees|7,200|
|Payroll|bureau|991|
|Legal|expenses|13|
|Other|legal|&|professional|costs|13|
|8,217|
|Financial|&|other|expenses|
|Bank|charges|415|
|Other|interest|payable|ie)|
|Depreciation|49,776|
|Bad|debts|(0)|
|Exchange|rate|gains/|losses|(e)|
|Dividend|cost|(e}|
|50,190|
|TOTAL OVERHEADS|296,244|
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Page 19
s
Waters Edge Arts Ltd
Notes to the accounts for the year ended 31 March 2023
4
Corporation tax
The charity is exempt from tax on income and gains falling within $505 of the Income & Corporation Taxes Act 1988 (ICTA 1998) or S256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
5
Net incoming/(outgoing) resources
| This is stated after charging/(crediting) the | This is stated after charging/(crediting) the | following: | ||
|---|---|---|---|---|
| 2023 | ||||
| £ | ||||
| Independent Examiner's remuneration | 7,200 | |||
| Depreciation | 49,776 | |||
| Independent Examiner's remuneration comprised: | ||||
| Independent examination | 1,200 | |||
| Accountancy | 6,000 | |||
| Underprovision in prior year | ° | - | ||
| 7,200 | ||||
| 6 | Staff costs | |||
| Staff costs | during the year were as follows: | |||
| 2023 | ||||
| £ | ||||
| Wages and salaries | 146,462 | |||
| Social security costs | 6,461 | |||
| Pension contributions | 2,959 | |||
| Stafftraining | 850 | |||
| Travel & entertainment | 1,132 | |||
| 157,863 |
| . | The | average number ofemployees during the year calculated on the basis offull-time equivalents was as follows: | |
|---|---|---|---|
| Chief executive | 1.0 | ||
| Business Development manager | 0.5 | ||
| Centre manager | 1.0 | ||
| Other staff | 5.5 | ||
| Total | 8.0 |
The number of employees earning over £60,000 per annum excluding pension contributions was nil (2022: nil).
7
Trustees’ remuneration and expenses
No trustees received reimbursed travel expenses during the period (2022: nil).
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the period (31 March 2022: nil).
Page 20
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Waters Edge Arts Ltd
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Notes to the accounts for the year ended 31 March 2023
8 Fixed assets: tangible assets
9
10
| Leasehold | Fixtures & | |||
|---|---|---|---|---|
| improvements | Software | fittings | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| 1 April 2022 | 224,108 | 10,812 | 102,232 | 337,152 |
| Additions | 21,118 | - | - | 21,118 |
| 31 March 2023 | 245,226 | 10,812 | 102,232 | 358,270 |
| Accumulated depreciation | ||||
| 1 April 2022 | 174,722 | 9,201 | 57,947 | 241,869 |
| Charge for the year | 32,596 | 604 | 16,575 | 49,776 |
| 31 March 2023 | 207,318 | 9,805 | 74,522 | 291,645 |
| Net book value | ||||
| 31 March 2023 | 37,908 | 1,007 | 27,710 | 66,625 |
| 31 March 2022 | 49,386 | 1,611 | 44,285 | 95,282 |
| Debtors | 2023 | 2022 | ||
| £ | £ | |||
| Accounts receivable | 5 | _ | ||
| Prepayments | 3,333 | 5,117 | ||
| Accrued income | a | = | ||
| Creditors: amounts falling due in less than one year | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Accounts payable | 1,430 | 1,430 | ||
| Accruals | 5,096 | 14,008 | ||
| Credit card : |
3 | a | . | |
| Social security and other taxation | 2,878 | 2,535 | ||
| CAF Loan | 2 | . | ||
| Loans - Directors & Employees | - | - | ||
| 9,404 | 17,973 |
Page 21
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Waters Edge Arts Ltd
Notes to the accounts
for the year ended 31 March 2023
11 Creditors: amounts falling due after more than one year
2023 2022
£ £
nil nil
12 Restricted funds
As at 1 April 2022 As at 31 March 2023
£ £
Arts Council England 10,974 -
D'Oyly Carte 3,500 -
Garfield Weston Foundation 25,000 oa
We Love Manchester 2,500 -
Awards For All - 9,150
The Co-op - 2,916
41,974 12,066
13 Analysis of net assets between funds
Fund balances at 31 March 2023 are represented by: Unrestricted Restricted
funds funds Total
£ £ £
Fixed assets 66,625 - 66,625
Net current assets 100,485 12,066 112,551
Long-term liabililities = e 2
Total net assets 167,110 12,066 179,176
14 Lease commitments
The charity had the following annual commitments under non-cancellable operating leases:
Land and buildings Equipment
2023 2022 2023 2022
£ £ £ £
Leases expiring in:
One year - - - -
Two to five years - - - -
Over 5 years - = - -
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