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|||||Page|
|---|---|---|---|---|
|Reference and administrative||details ofthe company,|its Trustees and advisers||
|Trustees'
report||||2-6|
|Independent
auditor's|report|on the financial statements||7-10|
|Statement
offinancial|activities||||
|Balance sheet||||12|
|Statement ofcash flows||||13|
|Notes to the financial|statements|||14-31|
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|Trustees|||Mr R T A Medwell||
|---|---|---|---|---|
||||Mr J McGuigan||
||||Mrs D Jones||
||||Mr G Fisher (resigned 28 September 2021)||
||||Mrs C Thompson||
||||Dr G Sharp||
||||Mrs M Kaur (appointed|17June 2021)|
||||Mr SStewart (appointed|18 May 2021)|
|Company|registered||||
|number|||07409629||
|Charity registered|||||
|number|||1140913||
|Registered||office|Unit 4, Sandy Lane Business Park||
||||Daimler Powerhouse||
||||Sandy Lane||
||||Coventry||
||||England||
||||CV1 4DQ||
|Chief executive officer|||Jane Hytch||
|Independent||auditor|Dains LLP||
||||15Colmore Row||
||||Birmingham||
||||B32BH||
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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
||Note|2021f|2021|2021|2020f|
|Income from:||||||
|Donations
and legacies|||5,000|5,000|132,121|
|Charitable
activities||128,374|2,274,873|2,403,247|1,056,671|
|Other trading
activities||11,500||11,500|10,404|
|Total income||139,874|2,279,873|2,419,747|1,199,196|
|Expenditure
on:||||||
|Charitable
activities||62,450|402,897|465,347|920,492|
|Total expenditure||62,450|402,897|465,347|920,492|
|Net movement
in funds||77,424|1,876,976|1,954,400|278,704|
|Reconciliation
offunds:||||||
|Total funds brought
forward||29,952|910,409|940,361|661,657|
|Net movement
in funds||77,424|1,876,976|1,954,400|278,704|
|Total funds carried forward||107,376|2,787,385|2,894,761|940,361|
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||||||2021||2020|
|---|---|---|---|---|---|---|---|
||||Note||F|||
|Fixed assets||||||||
|Tangible assets|||11||1,985,409||184,678|
|Heritage assets|||12||645,000||645,000|
||||||2,630,409||829,678|
|Current assets||||||||
|Debtors|||13|109,545||326,311||
|Cash at bank and|in hand|||346,630||246,625||
|||||456,175||572,936||
|Creditors: amounts|falling|due within one||||||
|year|||14|(191,823)||(410,253)||
|Net current assets|||||264,352||162,683|
|Total assets less|current|liabilities|||2,894,761||992,361|
|Creditors: amounts|falling|due after more||||||
|than one year|||||||(52,000)|
|Total net assets|||||2,894,761||940,361|
|Charity funds||||||||
|Restricted
funds|||16||2,787,385||910,409|
|Unrestricted
funds|||16||107,376||29,952|
|Total funds|||||2,894,761||940,361|
##
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||||||2021f|2020
E|
|---|---|---|---|---|---|---|
|Cash flows from operating||activities|||||
|Net cash|used
in operating|activities|||1,905,751|345,709|
|Cash flows from investing||activities|||||
|Purchase|of tangible
fixed assets||||(1,805„746)|(184,978)|
|Net cash|used
in investing|activities|||(1,805,746)|(184,978)|
|Change|in cash and cash|equivalents|in|the year|100,005|160,731|
|Cash and|cash equivalents|at the beginning||ofthe year|246,625|85,894|
|Cash and cash equivalents||at the end|of|the year|346,630|246,625|
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||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2021|2021|2021|
||F|f.||
|Donations||5,000|5,000|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2020|2020|2020|
||E|||
|Donations|16,750|115,371|132,121|
|Unrestricted|Restricted|Total|
|---|---|---|
|funds|funds|funds|
|2020|2020|2020|
|E|||
|16,750|115,371|132,121|
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|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2021|
|||E|||
|Grants|received|128,374|2,274,873|2,403,247|
|||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2020|2020|2020|
||Grants|received||42,333|1,014,338|1,056,671|
|5.|Income|from other trading|activities||||
||||||Unrestricted|Total|
||||||funds|funds|
||||||2021|2021|
||Events,|rent and other income|||11,500|11,500|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2020|2020|
||||||F||
||Events,|rent and other income|||10,404|10,404|
##
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|Analysis
|of expenditure
on charitable
ac|tivities|||
|---|---|---|---|---|
|Summary|by fund type||||
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2021|2021|2021|
|||f,|||
|Charitable|activities|62,450|402,897|465,347|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2020|2020|2020|
||||E||
|Charitable|activities|56,192|864,300|920,492|
||||||Total|
|---|---|---|---|---|---|
|||Staff costs|Depreciation|Other costs|funds|
|||2021|2021|2021|2021|
|||E||F|F|
|Charitable|activities|82,000|5,015|378,332|465,347|
||||||Total|
|||Staff costs|Depreciation|Other costs|funds|
|||2020|2020|2020|2020|
|||E|E|F|F|
|Charitable|activities|80,701|3,882|835,909|920,492|
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|||Activities|||
|---|---|---|---|---|
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2021|2021|2021|
||||E||
|Charitable|activities|254,226|211,121|465,347|
|||Activities|||
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2020|2020|2020|
|||P|||
|Charitable|activities|715,222|205,270|920,492|
|Analysis|ofdirect costs||||
||||Total|Total|
||||funds|funds|
||||2021|2020|
||||F||
|Project costs|||254,226|715,222|
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||||Total|Total|
|---|---|---|---|---|
||||funds|funds|
||||2021|2020|
|Staff costs|||82,000|80,701|
|Depreciation|||5,015|3,882|
|Office costs|||18,837|14,235|
|Financial
management|||45,625|45,000|
|Freelance support||staff|31,896|3,553|
|Rent|||269|19,500|
|Premises costs|||16,150|18,047|
|Accountancy|fees||1,200|2,510|
|Other support|fees||3,457|6,958|
|Travelling||||339|
|Loss on disposal of fixed asset||||2,554|
|Bank charges|||472|1,991|
|Governance|costs||6,200|6,000|
||||211,121|205,270|
##
|Audit|or's
remuneration||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|Fees|payable to the company's|auditor|for|the audit ofthe company's|||
|annual|accounts||||6,200|6,000|
|Fees|payable to the company's|auditor|in|respect of:|||
|All taxation
advisory services||not included||above|2,010|2,760|
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|Staff costs||||||
|---|---|---|---|---|---|
|||||2021f|2020|
|Wages and|salaries|||77,889|75,496|
|Social security costs||||3,283|4,260|
|Contribution|to defined|contribution|pension schemes|828|945|
|||||82,000|80,701|
|2021|2020|
|---|---|
|No.|No.|
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||Long-term|||
|---|---|---|---|
||leasehold|Office||
||property|equipment|Total|
||E|E|E|
|Cost or valuation||||
|At 1 April 2020|166,029|24,204|190,233|
|Additions|1,802,991|2,755|1,805,746|
|Transfers
between classes|(620)|620||
|At 31 March 2021|1,968,400|27,579|1,995,979|
|Depreciation||||
|At 1 April 2020|181|5,374|5,555|
|Charge for the year|124|4,891|5,015|
|Transfers
between classes|(305)|305||
|At 31 March 2021||10,570|10,570|
|Net book value||||
|At 31 March 2021|1,968,400|17,009|1,985,409|
|At 31 March 2020|165,848|18,830|184,678|
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|||||||||||Godiva||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Puppet|Total|
|||||||||||2021
F|2021f|
|Carrying|value|at|1|April|2020|and|31|March|2021|645,000|645,000|
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||F|E|
|Due within one year|||||||||
|Trade debtors|||||||4,817|39,508|
|Other debtors|||||||82,154|29,226|
|Prepayments|and accrued||||income||22,574|257,577|
||||||||109,545|326,311|
|Creditors: Amounts||||falling due||within one year|||
||||||||2021|2020|
||||||||E||
|Trade creditors|||||||20,473|205,711|
|Other taxation|and|social security|||||1,965|1,811|
|Other creditors|||||||82,529|140,294|
|Accruals and|deferred|||income|||86,856|62,437|
||||||||191,823|410,253|
||||||||2021|2020|
||||||||E|F|
|Deferred
income at|||1|April|2020||31,582|187,555|
|Resources deferred|||during||the year||22,075|31,582|
|Amounts
released||from previous||||periods|(31,582)|(187,555)|
||||||||22,075|31,582|
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|||2021f|2020f|
|---|---|---|---|
|Other|creditors||52,000|
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|||||||||Balance at|
|---|---|---|---|---|---|---|---|---|
|||||Balance at 1|||Transfers|31 March|
|||||April 2020|Income|Expenditure|in/out|2021|
|||||E||F|E|K|
|Unrestricted
funds|||||||||
|Designated
funds|||||||||
|Designated
Funds||||15,500|||49,500|65,000|
|General funds|||||||||
|General
Funds||||14,452|139,874|(62,450)|(49,500)|42,376|
|Total Unrestricted|funds|||29,952|139,874|(62,450)||107,376|
|Restricted funds|||||||||
|Heritage
Fixed Asset||Fund||645,000||||645,000|
|Coventry
City Council||—Cultural|||||||
|Capital
Investment|Programme||||||||
|- Capital fund||||252,936|1,638,742|(3,682)|(1,826,651)|61,345|
|Leasehold
Improvements|||Fund||||1,968,400|1,968,400|
|Coventry
City Council||—Cultural|||||||
|Capital
Investment|Programme||||||||
|- Revenue
fund||||12,473|202,309|(73,033)|(141,749)||
|Paul Hamlyn
Foundation—|||||||||
|Teach Make|||||75,000|(34,413)||40,587|
|Arts Council England||—Bridge|||47,286|(47,286)|||
|Arts Council England—|||||||||
|Combustion|||||9,036|(9,036)|||
|Arts Council England—|||||||||
|Emergency|||||35,000|(35,000)|||
|City of Culture|||||78,500|(78,500)|||
|Arts Council England||and|Foyle||||||
|Foundation
- Fit-out|||||185„000|(112,947)||72,053|
|Other funds|||||9,000|(9,000)|||
|||||910,409|2,279,873|(402,897)||2,787,385|
|Total offunds||||940,361|2,419,747|(465,347)||2,894,761|
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|Statement
offunds - prior year||||||
|---|---|---|---|---|---|
||||||Balance at|
||Balance at|||Transfers|31 March|
||1 April 2019|Income|Expenditure|in/out
f|2020|
|Unrestricted
funds||||||
|Designated
funds||||||
|Designated
Funds||||15,500|15,500|
|General funds||||||
|General
Funds|16,657|69,487|(56,192)|(15,500)|14,452|
|Total Unrestricted
funds|16,657|69,487|(56,192)||29,952|
|Restricted funds||||||
|Heritage
Fixed Asset Fund|645,000||||645,000|
|Paul Hamlyn
Foundation-||||||
|Imagineerium
Initiative||39,711|(39,711)|||
|Arts Council England —Bridge||345,282|(345,282)|||
|Arts Council England—||||||
|Combustion
R8D||39,964|(39,964)|||
|Coventry
City Council —Cultural||||||
|Capital
Investment
Programme
- Capital fund (Fixed Assets)||252,936|||252,936|
|Coventry
City Council —Cultural||||||
|Capital
Investment
Programme
- Revenue
fund||219,800|(207,327)||12,473|
|Heart of England —Arts Cafes||647|(647)|||
|Other funders —Bridge||223,869|(223,869)|||
|Other funders - Milesians||7,500|(7,500)|||
||645,000|1,129,709|(864,300)||910,409|
|Total offunds|661,657|1,199,196|(920,492)||940,361|
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|Summary|offunds
-current ye|ar|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at 1|||Transfers|31 March|
|||April 2020|Income|Expenditure|in/out|2021|
|||F||f.||f.|
|Designated|funds|15,500|||49,500|65,000|
|General funds||14,452|139,874|(62,450)|(49,500)|42,376|
|Restricted|funds|910,409|2,279,873|(402,897)||2,787,385|
|||940,361|2,419,747|(465,347)||2,894,761|
|Summary|offunds - prior year||||||
|||||||Balance at|
|||Balance at|||Transfers|31 March|
|||1 April 2019|Income|Expenditure|in/out|2020|
|||f.|E||E|E|
|Designated|funds||||15,500|15,500|
|General funds||16,657|69,487|(56,192)|(15,500)|14,452|
|Restricted|funds|645,000|1,129,709|(864,300)||910,409|
|||661,657|1,199,196|(920,492)||940,361|
|Analysis|of net assets between
funds -cur|rent year|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2021|2021|2021|
|||E|E||
|Tangible|fixed assets|17,009|1,968,400|1,985,409|
|Heritage|assets||645,000|645,000|
|Current|assets|264,595|191,580|456,175|
|Creditors|due within one year|(174,228)|(17,595)|(191,823)|
|Total||107,376|2,787,385|2,894,761|
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|Analysis|of net assets between
funds - prior y|ear|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2020|2020|2020|
||||F||
|Tangible|fixed assets|19,269|'I65,409|184,678|
|Heritage|assets||645,000|645,000|
|Current|assets|242,863|330,073|572,936|
|Creditors|due within one year|(180,180)|(230,073)|(410,253)|
|Creditors|due in more than one year|(52,000)||(52,000)|
|||29,952|910,409|940,361|
|||||2021|2020|
|---|---|---|---|---|---|
|Net income for the|year (as per Statement||of Financial Activities)|1,954,400|278,704|
|Adjustments
for:||||||
|Depreciation
charges||||5,015|3,882|
|Loss on the sale offixed assets|||||2,554|
|Decrease/(increase)|in debtors|||216,766|(148,343)|
|Increase/(decrease)|in creditors|||(270,430)|208,912|
|Net cash provided|by operating|activities||1,905,751|345,709|
|Analysis ofcash and cash equivalents||||||
|||||2021|2020|
|||||f.||
|Cash in hand||||346,630|246,625|
|Total cash and cash equivalents||||346,630|246,625|
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||||At 1 April||At 31 March|
|---|---|---|---|---|---|
||||2020|Cash flows|2021|
|||||E|f|
||||F|||
|Cash|at bank and|in hand|246,625|100,005|346,630|
|Debt|due within
1|year|(140,000)|58,000|(82,000)|
|Debt|due after 1 year||(52,000)|52,000||
||||54,625|210,005|264,630|
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|At 31 Mar
cancellable|ch 2021 the company
had commitments
to make fu
operating
leases as follows:|ture
minimum
lease payments|under
non-|
|---|---|---|---|
|||2021|2020|
|Not later than
1 year||14,400|14,400|
|Later than|1 year and not later than 5 years|130,400|130,400|
|Later than|5 years|456,000|489,000|
|||600,800|633,800|
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