Charity registralion number 1135536 Company reglstratlon number 04359454 (England and Wales) ART GENE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ART GENE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees N Van der Velden E Speight N McKinnell ADin H Kaur D Haley M Slanton C Davis (Appointed 19 March 2024) (Appointed 26 April 2023) Secretary N Wild Charity number 1135536 Company number 04359454 Prlnclpal address The Nan Tait Centre Bath Street Enliance 8arrow-in-Fumess LA14 STY Reglstered offlce The Nan Tait Centre Bath Street Enliance 8arrow-in-Fumess LA14 STY Independent examlner Melville & Co Unit 17-18, Trinity Enterprise Cenlre Furness Business Park Ironworks Road Barrow-in-Furness LA14 2PN
ART GENE LIMITED CONTENTS Page Trustees, report Independent examin8rfs report Statement of financial activities Balance sheet Statement of cash flows Noles to the accounts 10-19
ART GENE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Irustees present their annual report and financial slatements for the year ended 31 March 2024. The accounts have been prepared in accordance wtth the accounting policies sel out in note 1 to ItrE accounts and comply with the charity's Memorandum and Articles of Associalion, the Companies Act 2006 and the statement of Recommended Practice, "Accounting and Reporting by Charilies" issued in March 2005. Objectlves and actlvltles The charity's objects are. for the public benefit, to advance Ihe educalion of the public in Arts in Barrow-in- Furness, and also nationally and internationally, through the establishment of a facility to encourage artist led inilialives-, parlicuarly the production and exhibition of new work The policies adopted in furtherance of these objects are to implement a programme of local art and design-focused events, educational visits and workshops and there has been no change in these during Ihe year. In plannlng and carrying out the charity's aclivities the Board and management are always aware that such activities must be for the public benefit. As such the Board confirm thal they have had due regard lo the Charily Con)mission's published guidance on Ihe'public benefit, motive. The trustees have paid due regard lo guidance issued by the Charily Commission in deciding what activities the charity should undertake. Achlevements and performance 11 has been a very positive year for Art Gene, which continues to create socially engaged visual art across the social, nalural and built environment, helping people to learn in some of Ihe most economically and culturally deprived electoral wards in Northwest England. Following achievement of Arts Council England (ACE) Nalional Portfolio Organlsatlon status for Ihree years from April 2023, and the award of a welcome uplift on previous grants, Directors have been able lo reallse Iheir ambilion lo stabilise the core operation of the charity. Staff Ihat are key to the delivery of the ACE programm8 were given longer-lerm contracts, and new staff members were recruited to extend work with the publ and lo tak8 some day-to-day pressure off Oireclofs. Maddi Nicholson and Stuart Bastik remained as Artist Directors of the Company. Maddi extended her paid hours to work three days for Art Gene, and two days freelance. Unforlunately. Stuart was on sick leave for Ihe laller part of Ihe year. his Art Gene role limited. Norman Wild (Company Secretary and Finance Manager) conlinued to work two days per week, and Woikshop Manager Clinton Rimmer and Projects and Communlcalion5 Manager, Rachael Barker, were re-conlracled lo woik full lime. Art Gene continued lo employ a range of slaff on fixed-term contracts. At the end of the Low Carbon Barrow programme, extended to March 2023, Jo Reilly shifted lo do her fundraising and business development role over an extended number of days (following interview wilh Truslees in 2022), supported by Ihe Esmée Fairbairn Foundation (EFF). In September 2023. Jo was employed on a full-time contract, comprising of four days funded by EFF and one day funded by the National Lottery Heritage Fund as part of the Earnse Bay Project, managed by Natural England. Following a nalional recruitment campaign. Miranda Hill was employed as Art Gene's ProgTamme Associate on a three-day a week contract from September 2023. This was extended lo four days when new Historic England funding became available in 2024. In Febwary 2024, Belhan Petlitt was recruiled lo join the team as our Creative Gardener. working ihree days a week at Allolment Soup, initially for one year. She replaced Amy Stretch-parker, who had worked at the site in a seasonal role from April to December before moving on to another role.
ART GENE LIMITED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 As a team, we continued lo operate and manage the artist-deslgned communily growing space, Allotment Soup. on Walney Island where we promote outdoor arts engagement. biodiversity and organic food growing utilising large-scale polytunnels. Our office continues to be situated in the Nan Tait Cenlre. a laige Wictorian building in Barrow town cenlre, home to our woikshops, studios. garden and gallery spaces. The buildlng Is in uent need of mainlenance and repair, and we regularly log issues with the landlord, Weslmorland and Furness Council. This year, our Trustees decided to respond to a call from the Council and, following an extraordinary Board meeting in January 2023. submilled an expression of interest in an asset transfer from the Council to Art Gene. We await a response. Trustees are clear that major capital works would need to be completed by the Councll before a transfer could be agreed. We provide a summary of our project work in the section below. All our outputs, opportunities and achievements were shared regularly with the public through a fortnightly newsletler, using Eventbrite and via our popular Inslagram, Twitter and Facebook accounts. We continue lo grow our communication channels; at the lime of writing, they gave us a combined polential reach of over 6200 people. This year we created a new Tik Tok account. Highllghts from the artistic programme and project work l. Herltage Hlgh Street Cultural Programme The year to March 2024 marked the fourth and final year of Barrow's Heritage High Street 'Re:Dlscover Barrow Lost Shops, programme, supported by Historic England in partnership viilh Westmorland and Furness Council. Art Gene conlinued to coordinate and manage the associated cultural programme in Barrow. In this fourth year, our lead artist, Maddi Nicholson, made work in response to the high street- 'A Game of Communily and Chance,, a board game modelled on the history of Duke Street. We featured a wlde range of works made by Ihe other cultural programme partners in a major Art Gene-curated exhlbitlon, 'Place - Re:Dlscover Barrow,. Comprising four years of work responding lo the hlstory of Barrow's conservation area, the exhibition launched with an audience of 93 on 9 February 2024 and ran until Ihe end of the year. It featured historic ariefacts, stills from theatre productions, three films, and numerous art works mad8 by more than 15 local artists. 11 was seen by hundreds of local people. including the local MP, a ddegation of Council staff, Furness Carers and local schools. The exhiblllon featured a significant body of work by Sarah Hardacre. our 'Lost Shops, artist in residence, recruited in partnership with BarrowFull in 2023. Sarah held memory workshops In Barrow market during November, seeking lo ground her work in Ihe lived experience of local people. She created collage work for an exhibition in the high street based on these memories and her archival research. launching an impressive series of lightboxes, a 'billboard' and a new shop fronl on Duke Street in December 2023. The lighlboxes, initially in shop wlndows for a week, were moved to a public posilion in the market for a further month and then achleved a new audience when displayed in the Art Gene gallery in February and March. Art Gene created a 'Lost Shops, catalogue to accompany the exhibition, available fr)r sale, and on 10 February organlsed and hosted a local history conference bringing logether a range of volunteers and community historians lo share their work. A special feature of the exhibition was orchestrated footage commissioned by the Llverpool Phllharmonlc Orchestra from Aerial Artwork which featured Art Gene's Re.'Di5cover Barrow film. In 8 new departure for Art Gene, we also took our history-focused work inlo four care homes, screening a range of films about Barrow and its history and eliciting a slrong. positive response from residents with den*ntia and learning difficulties. Furthering our histoiy-focused creative work, we won two Micro to Mighty herllage grants al the end of the year and kickstarted them with a public archive evenl attended by 47 people in March 2024. This work will see us recording the memories of former students at Barrows Old Technical College, now home to Art Gene. and exploring the local significance of the Walney Shelter. a modest but important structure on Walney Island.
ART GENE LIMITED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 11. Artlsts In Resldence Following a second open call for a 'REAL Barrow artist in residence, we appointed Samantha Jones lo develop work linked to nature and biodiversity. Sam set aboul a research project over the summer and autumn 2023 to test whether she could construct mycelium furniture. Sam tested and explained Ihe technique in a series of public workshops where pariicipants made hand-made mycelium bowls to take away, before successfully making a table lop and stools. These were exhibited al Allotment Soup at our exhibition in the outdoors in September 2023. Throughout the year, we continued to partnerArl Walk Projects in Edinburgh and three inlernalional artlsts on the Deluge project. which we hope will resull in an Art Gene gallery show in 2025. This year Maddi Nicholson travelled to Edinburgh to present on Art Gene's work and to meet artist Dana Olare5cu, who later presented at Allolment Soup her inilial work on the importance of sall marshes in cart)on capiure. Art Gene also hosted artists Dan and Hannah Fox this year. who used Ihe gallery and workshop as a making space before touring new large scale works around festivals in England. In a further exciting developmenl, Art Gene was part of a consortia (with the University of Cumbria and Cumbria Arts and Culture Nelworkl which won Ihe contract to manage a major residency project funded by Cumbria Local Enleiprise Partnership. Developing the opportunily for three year-long residencies of £25k each, we devised the Catalyst project in the final quarter of Ihe year and advertised Ihe oppoilunilies nalion-wide. 111. Onllne work We continued lo develop our digital work in 2023124, once again supporting disabled artists through Ihe related commissloning. Our Digltal U programme was curaled by Sophie Lindsey and presented work from an open artist call. The 'On Rapeal. series of works by six artists, some internalional and some local launched wlth a live screening on 3 May 2023 and ran throughout the rnonth. Ting Ting Chen, Belhan Fox, Sophie Broadgale, Amy Wright, Simon The Last and Marianne Vieules all showed digital works as part of the programme. IV. Partnershlps A major new partnership was developed this year with Natural Englanil, Cumbria Wildlife Trust and Weslmorland and Furness Council lo develop a new beach school and creative space al Earnse Bay on Walney 151and. We contributed lo the successful application for a major National Loltery Heritage Fund development grant. We will develop ideas for creative woik al the site and coordinate the creatlon of an Activity Plan lo supporl the full applicalion in 2024. We continued lo support BarrowFull, Barrow's Communily Spaces and Places project, Ihroughoul the year. We ed a planling workshop at the Festival of Colours In April 2023 and a series ol holiday Playcalion events, Including Hapa Zome workshops involving prinling from wild flowers. The highlight of the partnership was hosting guests in Barrow, here as part of and inteinalional youth theatre festival., a disabled-led company was resldent In our gallery for five days and we hosled Ihree exuberant public performances. Art Gene continued to contribute to Ihe Zero Carbon Cumbria Partnershlp, inputting a Barrow perspective into strategic meetings and leading biodiversily and decarbonisalion projects. We parinered with the BOOM University of Cumbria project to deliver eight nature workshops for families who were encouraged to earn John Muir Awards. A 'gradualion' at the end of the summer programme celebrated everyone's achievemenl and learning. We were delighted to partner with Cumbria Action for Sustainability and a widfrranging consortium to win a Shared Prosperily grant. We are tasked with making five films celebrating Ihe decarbonisalion journeys of Low Carbon Barrow businesses and producing ten case studies", planning work began during 2023124. This year saw the delivery of the first year of operation of our new local authority, Westmorland and Furness Council. It has been positive lo build strong relationships with the lead members for climate change and for culture, bolh of whom have visited Art Gene and have championed the contribution our work makes to a thriving authorily. Virglnia Taylor, who leads on culture, opened our Place exhibition in February. 11 has been a pleasure, too, to meet Barrow's new Town Council representalives. We hosted the new Allotmenl Commiltee al Allotment Soup in 2023 and Chris Altree, the then Mayor, kindly opened Sarah Hardacre's Duke Slreet exhibition.
ART GENE LIMITED TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 V. Ouldoor work We ran an active public programme throughoul the year at Allotment Soup, our151e of Walney growing space. Following the resignalion of our first paid gardener, we successfully recruited Bethan Pellill on a part-time basis. We ran weekly volunteer sessions throughout the growing season, February to Oclob8r, producing a varied crop of edibles, which more volunteers turned into tasty. organic chulneys and soups over four public workshops. We were delighted this year to benefit from the Helping Hands volunteering project run by the Cumbria Museum Consortium. We recruited two new volunteers with long term health conditions to Allotment Soup and featured in a joyful film about the benefits of volunteering outdoors. A wonderful new partnership with Furness Refugee Support was a highlight of the year, introducing us to a loyal group of asylum-seeking young men who volunteered with us on a weekly basis and contribuled hugely to improving the look and operalion of the site. We delivered two major events al Allotmenl soup, an open day in June and an art-led exhibilion in the outdoors in September. In addition to work by Sam Jones, this featured several works by Maddi Nicholson as well as prints and films by artist, Nick Jordan. Building the biodiversity of the site continues to be a priority and this year we ran four wild flower planting workshops as part of the Earnse Project led by Amy Slrelch-Parker. These native species will eventually be transplanted to the National Nature Reserve on North Walney. Vl. Sharing and collaboratlon Strategic collaboration and outreach work remained a priority for the Company. Maddi Nicholson shared Ihe work of Art Gene with a range of groups throughout the year, including presentations to the University of Cumbria, Lancaster Arts, Lancaster University, the Morecambe Mileaux conference, a Northern Cre8live Corridor event and the Northern People's Powerhouse conference. Maddl Nicholson continued to represent Art Gene on a range of strategic partnership boards and collaborations - the HerilageAclion Zone Cultural Consortium. the Cumbria Arts and Culture Network. the Barrow Arts Group and Ihe BarrowFull Board, the Cumbria LEP Cullural Creative and Cultural Board, the Coastal North Collective, and Barrow's local listing commiltee. Barrow remalns an Arts Council England Priority Place and it was a pleasure once again to host Arts Council England staff and offer the facilities for grant surgeries throughout the year. Flnanclal rovlew The results for the year are summarised in the Stalemenl of Financial Aclivilies (income and expenditure account) on page 7. Incoming resources increased by £149,146 {450/0) to £476,483. The largest strand conlribuling to total incoming resources was the Arts Council at £239.957 which was unrestricted income. Expenditure lolalled £359,730, a decrease of £48,378 (140h). This led lo an increase in lotal fund balances of £116,753 in the year- they now total £196,427. ofwhich is £77.807 is in the General Fund {unrestricted)- It is the policy of Ihe charity that unreslricted funds which have not been designated for a specific use should be maintained at a level equivalent to approximately three monlh's expenditure. other than fundraising and project costs. The tfustees considers thal reserwes at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Currently this would require reseTves of £55,000. compared to the £77.807 unrestricted funds held al the end of the year. The trustees have assessed the major risks to which the charily is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
ART GENE LIMITED TRUSTEES, REPORT (CONTINUED}(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Structure. governance and management The charily is a company limited by guarantee, nol having share capital, 8nd is governed by a Memorandum and Articles of Association dated 24 February 2002, as amended. It's company registered number is 04359454. On 15 April 2010 the company became a registered charity with a charity number 1135536. The trustees, who are also the directors for the purpose of company law, and who serv8d during the year were.. J Bell (Resigned 1 Novemb&r 2023) N Van der Velden E Speight N McKinnell ADin H Kaur D Haley M Stanton C Davis (Appointed 19 March 2024) (Appointed 26 April 2023) The Board consists of people with considerable interest and experience in the arts, who are able lo draw on their past experiencas at a senior level in managemenl. finan. human resour managemenl or strategic planning. None of the trustees has any beneficial interesl in the company. All of the trustees are members of the company and guarantee lo contribute £1 in the event of a winding up. The Board of trustees (direclors) is the responsible body of the organisalion. and meets reguarly throughout the year deciding on slralegies and exercising management and artistic oversight of the charity. The Board delegates the day to day management of the organisalion and the financial control lo the Artistic Direclois and the Company Secrelary. There are no related parties of the charity. The trustees, report roved by the Board of Trustees. D Haley Trustee Daled.. IY.:Il' IP.L.*.
ART GENE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ART GENE LIMITED I report to the trustees on my examination of the financial statements of Art Gene Limited (the charity) for the year ended 31 March 2024. Responslbllltles and basls of report As the Iruslees of the charily (and also ils directors for the purposes of company law) you are responsible for the preparation of the financial stalements in accordance with the requirements of the Companies Act 20(E (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respecl of my examination of the charity's financial slatemenls carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charily Commission under section 145(5)(b) of the 2011 Act. Independent examlner's statement Since Ihe charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Ceriified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my allenlion in connection with the examination giving rne cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by 8eclion 386 of the 2006 Act. or the financial statements do not accord with those records: or the financial statements do not comply with the accounting requirements of section 398 of the 2006 Act other Ihan any requirement that the accounts glve a true and fair view which is not a matler considered as part of an Independent examination,. or the financial statements 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 Iheir accounts in accordance with Ihe Financlal Reporting Standard appllcable In Ihe UK an Republic of Ireland (FRS 102). I have no concerns and have come across no other matlers in conneclion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. S Oram Melvllle & Co Chartered Certified Accountant Unlt 17-18. Trinity Enterprise Cenlre Furness Busines5 Park IronwoTks Road Barrow-in-Furness LA14 2PN
ART GENE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and grants Sales and rentals Inveslmenls 253.039 19.995 873 202,576 455,615 19,995 873 135,178 12,526 284 179,349 314,527 12,526 284 Total Income 273,907 202,576 476,483 147,988 179,349 327,337 Expendlture on: Charitable activities 261.787 97,943 359,730 152.671 255,438 408,109 Total expendllure 261,787 97,943 359,730 152.671 255,438 408,109 Net InGomel(expendllur8) and movement In funds 12,120 104,633 116,753 (4.683) (76.089) (80,772) Reconclllatlon of funds: Fund balances at 1 April 2023 65.687 13,987 79,674 70,370 90,076 160,446 Fund balances at 31 March 2024 77,807 118,620 196,427 65,687 13,987 79,674 The statement of financial activities includes all gains and losses recognised in the year. All income and expendilur8 d8rive from continuing activities.
ART GENE LIMITED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Current assets Debtors Cash at bank and in hand 13 9,515 267,982 1,120 132,044 277.497 133,164 Credltors: amounts falllng due wlthln one year 14 (81.070) (53,490) Net current assets 196,427 79,674 Net assets excludlng pènsion liablllty 196,427 79,874 The funds of the charlty Restricted income funds Unrestricted funds 15 118,620 77,807 13,987 65,687 196,427 79,674 The company is enlilled lo the exemption from Ihe audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounling records which comply wilh section 386 of Ihe Act and for preparing financial statements whlch give a Ifue and fair view of the state of affairs of the company a5 at the end of the financial year and of ils incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requiremenls 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 company. The members have not required the company to obtain an audit of its financial slatements for the year in question in accordance with seclion 476. These financial statements have been prepared in accordance wilh the provisions applicable to companies subject to the small companies regime. The financial statements proved by the trustees on . i4=11-i.o.&+ DHal Trustee Company registration number 04359454 (England and Wales)
ART GENE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng actlvltles Cash generated fromJ(absorbed by) operations 18 135,065 (31,635) Investlng actlvltl8S Inlerest received 873 284 Net cash generated from Investlng actlvltle$ 873 284 Net cash used In flnanclng actlvlties Net Increaselldecrease) In cash and cash equlvalents 135,938 (31,351) Cash and cash equivalents at beginning of year 132,044 163,395 Cash and cash equlvalents at end of year 267,982 132,044
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Company information Arl Gene Limited is a private company limited by guarantee incorporaled in England and Wales. The regislered office is The Nan Tait Centre, Bath Street Entrance, Bairow-in-Furness, LA14 STY. 1.1 Accounllng conventlon The financial statements have been prepared in accordance with the charity's Memorandum and Articles, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Stalement ol Recommend&d 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). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulatlons 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charilies applying FRS 102 rather than the version of the Statement of Recommended Practice which is referTed to in the Regulations bul which has since been withdrawn. The financial statements are prepared in sterling. which 18 the fur)clional currency of Ihe charily. Mon8tary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under Ihe historical cost convention. The principal accounting policles adopted are set out below. 1.2 Going concern At the lime of approving the financial statements, the trustees have a reasonable expectation thal the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statemenls. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of Iheii charitable objectives unless the funds have been designated for other purposes. Reslricted funds are subject lo specific conditions by donors as to how Ihey may be used. The purFr)ses and uses of Ihe restiicted funds are set out in the notes lo the accounls. 1.4 Incomlng resources Income is recognised when the charily is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income viill be reGeived. Cash donations are recognised on receipt. Olher donations are recognised once the charity has been nolified ol the donation, unless performance conditions require deferral of Ihe amount. Income lax recoverable in relation to donatlons received under Gift Aid or deeds of covenant is recognised at the time of the donation. 10-
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Continued) 1,5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in setllement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity a made up of the total of direct costs and shared costs, including support costs involved in undertaking each activlly. Direct costs altributable to a single activity are allocated directly to that activity. Shared costs which contribute to mor& than one activity and support costs which are not allribulable to a single aclivily are apportioned between those activities on a basis consistent with the us6 of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allo¢aled on the wrtion of Ihe asset's use. All expendilure Is accounted for gross and when incurred. Charitable expenditure includes the costs of all activities carried out, with the exception of Ihe costs incurfed for governance purposes. 1.6 Tanglble flxed assels Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation. nel of deprecialion and any impairment losses. Depreciation is recognised so as lo write off the cost or valualion of assets less their residual values over their useful lives on the following bases: Land and buildings - leasehold Plant and machinery Fixtures, filllngs & equipment 10% slraight line 250kn and 33.3% straight line 250kn straight line 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposils held at call with banks, other short-term Ilquld investments with original maturities of three months or less, and bank overdrafts. Bank overdrafls are shown within borrowings in current liabilities. Basic financial liabilities, including creditors and bank loans ale recognised al Iransaction price unless the arrangement conslitules a financing transaction, where the debt instrument is measured at the present value of the future payments discounled at a market rate of inleresl. Financial liabililies classified as payable wilhln one year are not amortised. 1.8 Taxatlon The company is not liable to Corporalion Tax on any surplus it makes so long as Ihe surplus Is Us1 for charitable purposes. 1.9 Funds Restricted funds represent grants and other income received which can only be expended on specific purposes as defined by the donor. Unrestricted funds are all other funds hdd by the charily. including general purpose funds. 11
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accountlng esllmates and Judgements In the application of the charily's accounting policies, the trustees are iequired to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimates and associated assumptions are based on historical experience and other factors thal are considered to be relevant. Actual results may differ from these estimates. The eslimates and underlying assumptions are reviewed on an ongoing basls. Revisions lo accounting astimates are recognised in the peiiod in which the eslimale is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affecls bolh current and future periods. Income from donatlons and grants Unreslrlcted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants receivable from core activities 3,082 3,082 1.154 1,154 249,957 202,576 452.533 134.024 179,349 313,373 253.039 202,576 455,615 135,178 179,349 314,527 Grant$ recelvable for core actlvltles Arts Council England 239,957 Westmorland and Furness Council Lost Shops Project S-H-E-D Know your Neighbourhood Sir John Fisher Foundation Esmee Fairbairn Foundation Wild Walney Climate and Nature Project Cumbria County Council Furness Refugee Support Other 239,957 112,024 3.000 115.024 10,000 10,01)0 45,000 25,000 10.000 10,000 45,000 25,000 10,000 10,000 35,000 35,000 10,000 10.000 7,500 7,500 40.075 40.075 12.000 39.625 51,625 15,513 8.998 1,990 21.000 15,513 8,998 1,990 21,000 1.500 117,724 1,500 117,724 249,957 202,576 452.533 134,024 179.349 313,373 12-
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Sales and rentals Ront Room hlre recelvablo Total 2023 Sales within charilable aclivities 2,700 17,295 19.995 12,528 Analysis by fund Unrestricted funds 2.700 17,295 19.995 For the year 8nded 31 March 2023 Unrestricted funds 2,475 10,051 12,526 Income from Inveslments Unrestrlcted Unrestrlcted funds funds 2024 2023 Interesl receivable 873 284 13-
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable actlvltles Dlrect costs Dlrect costs 2024 2023 Staff costs Project fees 133,934 142.421 138.216 179,982 278.355 318,198 Share of support costs (see note 7) Share of governance costs (see note 7) 79,116 4,259 85,688 4,223 359,730 408,109 Analysls by fund Unrestricted funds Restricted furMIs 261,787 97,943 152,671 255,438 359,730 408,109 For the year ended 31 March 2023 Unrestrlcted funds Restricted funds 152,671 255,438 408,109 14-
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to actlvltles Total 2024 Total 2023 Basls of allocation 900kn unrestricted 900/0 unrestricted 1000% unrestric18d Sludio and premises Administration and overheads Governance 54,896 24,220 4,259 73,912 11.776 4,223 83,375 89,911 2024 2023 Governance costs comprlse: Board meetings Accountancy Travel Other 111 3,697 391 80 100 3,932 178 13 4,259 4,223 Premises costs for 2023 includes additional service charges for 2020-21 and 2021-22 of £13,494 and £16,101 respectively notified lo the charity in December 2022. Net movement In funds 2024 2023 The net movement In funds Is slated after chargingl(credilingJ- Fees payable lo the charlty's independent examiner. for the independent examination of the charily's financial stalemenls for other assurance services 762 2,935 732 3,200 Trustees None of Ihe truslee5 (or any persons connected with them) received any Temuneration during the year. 15-
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Employees Number of employees The average monthly number of employees during the year was: 2024 Number 2023 Number Administration and finance Technical support Project management Business development and fundraising Maintenance Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 124,712 6,360 2.862 128,708 6,984 2,524 133,934 138,216 Th8re were no employees whose annual remuneration was £60,000 or more. 11 Taxatlon The charity is exempt from taxation on its aclivilies because all its income is applied for charitable purposes. 12 Tanglble flxed assels Land and bullding5- leasehold Plant and machlnery Flxture8, fllllngs & qulpm8nt Total Cost At 1 April 2023 165,091 54,961 27,884 247,936 At 31 March 2024 165.091 54,961 27,884 247,936 Depreciation and Impalrment At 1 ApTiI 2023 165.091 54,961 27,884 247,936 At 31 March 2024 165,091 54,961 27,884 247.936 Carrying amount At 31 March 2024 At 31 March 2023 16-
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Debtors 2024 2023 Amounts falllng due wlthln one year". Trade debtors 9.515 1,120 14 Credltors: amounts falllng due wlthln one year 2024 2023 other taxation and soclal securily Trade creditors Other creditors Accrua15 and deferred Income 3,197 4,074 56 73,743 1,827 2,711 48,952 81,070 53,490 15 Restrlcted funds The reslricled funds of the charily comprise the unexpended balances of donations and grants held on trust subject to speclfic conditions by donors as lo how they may be used. At 1 Aprll 2023 Incomlng resources Resources At 31 March expended 2024 13,987 202,576 (97.943) 118,620 Pravlous year: At 1 Aprfl 2022 Incomlng resources Resources At 31 March expended 2023 90,076 179,349 {255,438) 13,987 17-
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific condilions by donors and grantors as to how they may be used. These include designaled funds which have been set aside out of unrestricled funds by the trustee5 for specific purposes. At 1 Aprll 2023 Incomlng resources Resources At 31 March expended 2024 General funds 65,687 273,907 (261.787) 77,807 Prevlous year: At 1 Aprll 2022 Incomlng resources Resources At 31 March expended 2023 General funds 70,370 147,988 (152,671) 65.687 17 Analysls of net assets between funds Unrestrlcled funds 2024 Restrlcted funds 2024 Total 2024 At 31 March 2024.. Currenl a5setsl(liabililie$) 77.807 118,620 196,427 77,807 118,620 196,427 Unrestrlcted fund5 2023 Restrlcted funds 2023 Total 2023 At 31 March 2023.. Current assetsl(liabililies) 65,687 13.987 79,874 65,687 13.987 79,674 18-
ART GENE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Cash generated from operatlons 2024 2023 Surplusl{deficit) for the year 116,753 (80,772) Adjustments for: Investment income recognised in statement of financial activities (873) (284) Movements in working capital: Ilncreaselldecrease in debtors Increase In creditors {8.395) 27,580 9,883 39,538 Cash generated froml{absorbed byl operatlons 135,065 (31,635) 19-