2023-03-31-accounts - Nottingham Studios Ltd

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Trustees' Report			I to 12
Reference and Administrative		Details
Independent Examiner's	Report		13
Statement ofFinancial	Activities		14to 15
Balance Sheet			16
Statement ofCash Flows			17
Notes to the Financial	Statements		18to 27

Trustees an	d of5cers	d of5cers	d of5cers
The trustees	and officers serving during the year and since the year end were as follows:
Trustees:	Michael Forbes
	Shobna Bazzaz
	Alison Lloyd
	Nick Sister
	Frank Abbott
	Michael Marsden
	Rebecca Blackwood
	Iain Cockhill
	William Harvey	(appointed	11September 2022)
	Christine Stevens	(appointed 3October 2023)
	Caroline Boseley	(resigned	11September 2022)
	Isobel Whitelegg	(resigned	11July 2022)
	Cindy Sissokho (resigned		11September 2022)
	Norman Cherry (resigned		26January 2023)
Secretary:	Jessica Colebourne-Viggers		(appointed 9August 2023)

		and Los	ses)
				Total	Total
		Unrestricted	Restricted	2023	2022
	Note
Income and Endowments	from:
Donations and legacies	2	71,257		71,257	111,916
Charitable activities	3	61,455	248,392	309,847	452,712
Investment income	5	7		7
Total Income		132,719	248,392	381,111	564,628
Expenditure on:
Charitable activities		(225,201)	(87,435)	(312,636)	(267,378)
Total Expenditure		~225,20)	~87,435)	~3)2,636	~267,378
Net (expenditure)/income Transfers between funds		(92,482) 171,161	160,957 ~)7),)6))	68,475	297,250
Net movement in funds		78,679	(10,204)	68,475	297,250
Reconciliation offunds
Total funds brought forward		606,990	159,085	766,075	468,825
Total funds carried forward	13	685,669	148,881	834,550	766,075

These are the figures for the previous	These are the figures for the previous	accounting	period	and are included	for comparative	purposes
				Unrestricted	Restricted	Total
				funds	funds	2022
		Note		f,		f,
Income and Endowments	from:
Donations and legacies				111,916		111,916
Charitable activities				86,978	365,734	452,712
Total income				198,894	365,734	564,628
Expenditure on: Charitable activities			6	~)92,193	~75,)85	~267,378
Total expenditure				~192,)93)	(75,)85)	~267,378)
Net income Transfers between funds				6,701 240,726	290,549 ~240,726)	297,250
Net movement in funds				247,427	49,823	297,250
Reconciliation offunds
Total funds brought forward				359,563	109,262	468,825
Total funds carried forward			13	606,990	159,085	766,075

		Balance Sheet as at	31 March 20	23
				2023	2022
			Note		g
Fixed assets
Tangible assets				560,685	466,687
Current assets
Debtors			9	8,049	139,388
Cash at bank	and in hand		10	281,049	188,998
Creditors: Amounts		falling due within one year	11	289,098 ~15,233	328,386 ~28,998
Net current	assets			273,865	299,388
Net assets				834550	766075
Funds ofthe	charity:
Restricted income funds
Restricted funds			13	148,881	159,085
Unrestricted	income	funds
Unrestricted	funds			685,669	606,990
Total funds			13	834550	766075

			2023	2022
		Note
Cash flows from operating activities
Net cash income			68,475	297,250
Adjustments to cash flows from non-cash items Depreciation Investment income		5	73,534 ~7	57,679
			142,002	354,929
Working capital adjustments
Decrease/(increase) in debtors (Decrease)/increase in creditors		9 11	131,339 ~(13,765	(86,934) 7,126
Net cash flows from operating activities			259,576	275,121
Cash flows from investing activities
Interest receivable and similar income Purchase oftangible fixed assets		5 8	7 ~167,532)	~216,352
Net cash flows f'rom investing activities			(167,525)	~(2(6,352
Net increase in cash and cash equivalents			92,051	58,769
Cash and cash equivalents at 1April			188,998	130,229
Cash and cash equivalents at31March			281,049	188,998
Reconciliation ofnet cash flow to movement	in net funds
Increase in cash			92,051	58,769
Net funds at 1April 2022			188,998	130,229
Net funds at 31March 2023			281,049	188,998

					Unrestricted
					funds	Total	Total
					General	2023	2022
							g
Donations	and	legacies;
Donations Rom			companies,	trusts and similar
proceeds					71,257	71,257	9,720
Grants, including			capital grants;
Government		grants					102,196
					71,257	71,257	111,916

Income fro	m charitable activiti	es
		Unrestricted
		funds	Restricted	Total	Total
		General	funds	2023	2022
			f,
Studio rental		58,186		58,186	48,499
Fees &sales		1,774	8,069	9,843	2,387
Fundraising		505		505	21,047
Grants			240,311	240,311	345,021
Membership	&other income	990	12	1,002	35,758
		61,455	248,392	309,847	452,712

4 Grants &donations
		Unrestricted	Restricted
		funds	funds	Total
Arts Council England (capital purposes)			95,826	95,826
Severn Trent Community	Fund (capital purposes)		53,605	53,605
Garfield Western Foundation (capital purposes)			50,000	50,000
Foyle Foundation (capital The Elephant Trust	purposes)		35,000 2,500	35,000 2,500
Breaking Barriers Building Bridges			1,100	1,100
Mighty Creatives		4,341		4,341
Sundry under f.1000		720	1,280	2,000
New Midland Group The Arts Council England		66,196	1,000	1,000 66,196
		71,257	240,311	311,568

					Unrestricted
					funds	Total
					General	2023
Interest receivable	and similar		income;
Interest receivable on bank deposits
6 Expenditure	on charitable		activities
			Unrestricted
			funds	Restricted	Total	Total
			General	funds	2023	2022
Board expenses			786		786	74
Legal &professional		fees	3,032		3,032	5,454
Office costs Rent &rates			8,012 1,062	1,326	9,338 1,062	5,183 113
Repairs &maintenance			4,426		4,426	7,957
Insurance			525		525	255
Events &fundraising			6,226		6,226	5,807
Marketing			848	1,610	2,458
Utilities			22,917		22,917	25,841
Depreciation			73,534		73,534	57,679
Programme costs			771	72,602	73373	49,777
Intern costs Bank charges			2,610		2,610	2,223 71
Tralnlng Other expenditure Volunteer expenses			3,170 235		3,170 235	2,935 1,080
Travel &accommodation Wages, NI &Pension			979 96,068	11,897	979 107,965	1,878 101,051
			225,201	87,435	312,636	267,378

The aggregate payroll costs were as follows:
	2023	2022
	f,
Staffcosts during the year were:
Wages and salaries	104,332	96,691
Social security costs	1,768	2,534
Pension costs	1,865	1,826
	107,965	101,051

2023	2022
No	No

8 Tangible fixed assets
	Land and	Furniture	and	Computer
	buildings	equipment		equipment	Total
Cost
At 1April 2022	636,094		7,670	5,302	649,066
Additions	167,532				167,532
At 31March 2023	803,626		7,670	5,302	816,598
Depreciation
At 1 April 2022	173,211		6,848	2,320	182,379
Charge for the year	72,583		746	205	73,534
At 31March 2023	245,794		7,594	2,525	255,913
Net book value
At 31March 2023	557,832		76	2,777	560,685
At 31March 2022	462,883		822	2,982	466,687
	Page 23

9 Debtors
		2023	2022
			g
Trade debtors		8,049	25,182
Accrued income			5,595
Other debtors			108,611
		8,049	139,388
10 Cash and cash equivalents
		2023	2022
Cash on hand		74	242
Cash atbank		280,975	188,756
		281,049	188,998
11 Creditors: amounts	falling due within one year
		2023	2022
Trade creditors		6,717	20,610
Other taxation and social	security	1,655	1,733
Other creditors		6,861	6,655
		15,233	28,998

13 Funds
								Balance at
				Balance at 1	Incoming	Resources		31March
				April 2022	resources	expended	Transfers	2023
						g	g	g
Unrestricted	funds
General
General				100,303	132,719	(151,667)	(1,371)	79,984
Designated
Fixed Assets				466,687		(73,534)	167,532	560,685
Reserves				40,000			5,000	45,000
				506,687		73,534	172,532	605,685
Total unrestricted			funds	606,990	132,719	(225,201	171,161	685,669
Restricted funds
Programmes Capital				133,944 25,141	29,561 218,831	(74,453) (12,982)	~(7(,)6(	89,052 59,829
Total restricted		funds		159,085	248,392	~87,435	~171,16(	148,881
Total funds				766,075	381,111	(312,636)		834,550

							Balance at
			Balance at 1	Incoming	Resources		31March
			April 2021	resources	expended	Transfers	2022
							g
Unrestricted	funds
General
General			25,549	198,894	(134,514)	10,374	100,303
Designated
Fixed Assets			308,014		(57,679)	216,352	466,687
Reserves			26,000			14,000	40,000
			334,014		57,679	230,352	506,687
Total unrestricted		funds	359,563	198,894	~192,193)	240,726	606,990
Restricted
Programmes			109,262	99,867	(75,185)		133,944
Capital				265,867		~240,726	25,141
Total restricted funds			109,262	365,734	(75,185)	(240,726)	159,085
Total funds							766,075

14 Analysis ofnet assets betwe	en funds
				Total funds at
	Unrestricted	funds	Restricted	31March
	General	Designated	funds	2023
				g
Tangible fixed assets		560,685		560,685
Current assets	95,217	45,000	148,881	289,098
Current liabilities	(15,233)			(15,233)
Total net assets	79,984	605,685	148,881	834,550
				Total funds at
	Unrestricted	funds	Restricted	31March
	General	Designated	funds	2022
		f,
Tangible fixed assets		466,687		466,687
Current assets Current liabilities	129,301 28,998	40,000	159,085	328,386 ~28,998)
Total net assets	100,303	506,687	159,085	766,075

		2023	2022
Independent	examination	1,045	940
Other financial services		2,518	3,187
		3,563	4,127

17 Trustees remuneration and expenses	17 Trustees remuneration and expenses
During the year the charity made the	following	transactions with trustees:
Alison Lloyd Alison Lloyd received remuneration	off605 (2022: KNil) during the year.
Received payment for her capacity as aFreelance staffing (invigilation)
Frank Abbott
Frank Abbott received remuneration	off100(2022: KNil) during the year.
Received afee for Artist Development
William Harvey
WiHiam Harvey received remuneration of f836		(2022:PNil) during the year.