| 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 | 14-30 |
| Trustees | Mr RTA Medwell | |||
|---|---|---|---|---|
| Mr J McGuigan | ||||
| Mrs D Jones (resigned | 31 March 2022) | |||
| G Fisher (resigned 28 September 2021) | ||||
| Mrs C Thompson | ||||
| Dr G Sharp | ||||
| Mrs M Kaur (appointed | 17June 2021) | |||
| Mr SStewart (appointed | 18May 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 Audit Limited | ||
| 15Colmore Row | ||||
| Birmingham | ||||
| B32BH |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | |||
| Note | E. | F | E | E | ||
| income from: | ||||||
| Donations and legacies |
172,863 | 6,200 | 179,063 | 5,000 | ||
| Charitable activities |
325„788 | 810,695 | 1,136,483 | 2,403,247 | ||
| Other trading activities |
38,609 | 38,609 | 11,500 | |||
| Total income | 537,260 | 816,895 | 1,354,155 | 2,419,747 | ||
| Expenditure on: |
||||||
| Charitable activities |
461,422 | 875,057 | 1,336,479 | 465,347 | ||
| Total expenditure | 461,422 | 875,057 | 1,336,479 | 465,347 | ||
| Net income/(expenditure) | 75,838 | (58,162) | 17,676 | 1,954,400 | ||
| Transfers between |
funds | 15 | 8,874 | (8,874) | ||
| Net movement in |
funds | 84,712 | (67,036) | 17,676 | 1,954,400 | |
| Reconciliation of |
funds: | |||||
| Total funds brought |
forward | 107,376 | 2,787,385 | 2,894,761 | 940,361 | |
| Net movement in funds |
84,712 | (67,036) | 17,676 | 1,954,400 | ||
| Total funds carried forward | 192,088 | 2,720,349 | 2,912,437 | 2,894,761 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| F | E | |||||
| Cash flows from operating | activities | |||||
| Net cash used in operating |
activities | 106,962 | 1,905,751 | |||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed assets |
(117,347) | (1,805,746) | ||||
| Net cash used in investing |
activities | (117,347) | (1,805,746) | |||
| Cash flows from financing | activities | |||||
| Repayments of borrowing |
(82,000) | |||||
| Net cash (used in)/provided | by financing | activities | (82,000) | |||
| Change in cash and cash |
equivalents in |
the year | (92,385) | 100,005 | ||
| Cash and cash equivalents | at the beginning | ofthe year | 346,630 | 246,625 | ||
| Cash and cash equivalents | at the end of | the year | 254,245 | 346,630 | ||
| The notes on pages 14to 30form part ofthese financial | statements |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| F | |||
| Donations | 172,863 | 6,200 | 179,063 |
| Restricted | Total |
|---|---|
| funds | funds |
| 2021 | 2021 |
| E | |
| 5,000 | 5,000 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| F | E | |||
| Grants | received | 325,788 | 810,695 | 1,136,483 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| E | F | |||
| Grants | received | 128,374 | 2,274,873 | 2,403,247 |
| Unrestricted | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2022 | 2022 | |||||
| E | E | |||||
| Events, | rent | and | other | income | 38,609 | 38,609 |
| Unrestricted | Total | |||||
| funds | funds | |||||
| 2021f | 2021 | |||||
| Events, | rent | and | other | income | 11,500 | 11,500 |
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| funds | funds | Total | |||
| 2022 | 2022 | 2022 | |||
| E | F | ||||
| Charitable | activities | 461,422 | 875,057 | 1,336,479 | |
| Unrestricted | Restricted | ||||
| funds | funds | Total | |||
| 2021 | 2021 | 2021 | |||
| F | F | ||||
| Charitable | activities | 62,450 | 402,897 | 465,347 | |
| Summary | by expenditure | type |
| Staff costs | Depreciation | Other costs | Total | ||
|---|---|---|---|---|---|
| 2022 | 2022 | 2022 | 2022 | ||
| F | F | ||||
| Charitable | activities | 95,591 | 111,424 | 1,129,464 | 1,336,479 |
| Staff costs | Depreciation | Other costs | Total | ||
| 2021 | 2021 | 2021 | 2021 | ||
| F | F | F | F | ||
| Charitable | activities | 82,000 | 5,015 | 378,332 | 465,347 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | ||
| directly | costs | funds | ||
| 2022 | 2022 | 2022 | ||
| E | F | |||
| Charitable | activities | 884,531 | 451,948 | 1,336,479 |
| Activities | ||||
| undertaken | Support | Total | ||
| directly | costs | funds | ||
| 2021 | 2021 | 2021 | ||
| E | E | |||
| Charitable | activities | 254,226 | 211,121 | 465,347 |
| Analysis | ofdirect costs | |||
| Total | Total | |||
| funds | funds | |||
| 2022 | 2021 | |||
| E | F | |||
| Project costs | 884,531 | 254,226 |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2022 | 2021 | |||||
| E | E | |||||
| Staff costs | 95„591 | 82,000 | ||||
| Depreciation | 111,424 | 5,015 | ||||
| Office costs | 44,563 | 18,837 | ||||
| Financial management |
46,000 | 45,625 | ||||
| Freelance support staff | 88,734 | 31,896 | ||||
| Rent | 34,254 | 269 | ||||
| Premises costs | 14,570 | 16,150 | ||||
| Accountancy | fees | 3,648 | 1,200 | |||
| Other support | fees | 6,423 | 3,457 | |||
| Bank charges | 241 | 472 | ||||
| Governance | costs | 6,500 | 6,200 | |||
| 451,948 | 211,121 | |||||
| Auditor's remuneration |
||||||
| 2022 | 2021 | |||||
| E | ||||||
| Fees payable | to the company's | auditor | for | the audit ofthe company's | ||
| annual accounts |
6,500 | 6,200 | ||||
| Fees payable | to the company's | auditor | in | respect of: | ||
| All taxation advisory services not included |
above | 1,360 | 2,010 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| F | F | ||||
| Wages and | salaries | 90,472 | 77,889 | ||
| Social security costs | 4,091 | 3,283 | |||
| Contribution | to defined | contribution | pension schemes | 1,028 | 828 |
| 95,591 | 82,000 |
| 2022 | 2021 |
|---|---|
| No. | No. |
| Long-term | |||
|---|---|---|---|
| leasehold | Office | ||
| property | equipment | Total | |
| E | E | ||
| Cost or valuation | |||
| At 1 April 2021 | 1,968,400 | 27,579 | 1,995,979 |
| Additions | 97,621 | 19„726 | 117,347 |
| At 31 March 2022 | 2,066,021 | 47,305 | 2,113,326 |
| Depreciation | |||
| At 1 April 2021 | 10,570 | 10,570 | |
| Charge for the year | 103,386 | 8,038 | 111,424 |
| At 31 March 2022 | 103,386 | 18,608 | 121,994 |
| Net book value | |||
| At 31 March 2022 | 1,962,635 | 28,697 | 1,991„332 |
| At 31 March 2021 | 1,968,400 | 17,009 | 1,985,409 |
| Godiva | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Puppet | Total | ||||||||||
| 2022f | 2022 E |
||||||||||
| Carrying | value | at | 1 | April | 2021 | and | 31 | March | 2022 | 645,000 | 645,000 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | E | ||
| Due within one year | |||
| Trade debtors | 88,571 | 4,817 | |
| Other debtors | 1,097 | 82,154 | |
| Prepayments | and accrued income | 61,031 | 22,574 |
| 150,699 | 109,545 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| E | E | |||||||
| Trade creditors | 44,478 | 20,473 | ||||||
| Other taxation | and | social security | 4,400 | 1,965 | ||||
| Other creditors | 4,236 | 82,529 | ||||||
| Accruals | and deferred | income | 75,725 | 86,856 | ||||
| 128,839 | 191,823 | |||||||
| 2022 | 2021 | |||||||
| E | E | |||||||
| Deferred | income at | 1 April 2021 | 22,075 | 31,582 | ||||
| Resources deferred | during the year | 14,748 | 22,075 | |||||
| Amounts | released | from previous | periods | (22,075) | (31,582) | |||
| 14,748 | 22,075 |
| Balance at | Balance at | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 April | Transfers | 31 March | ||||||||
| 2021 | Income | Expenditure | in/(out) | 2022 | ||||||
| F | E | |||||||||
| Unrestricted funds |
||||||||||
| Designated funds |
||||||||||
| Creative Producer / |
Projects seed fund | 40,000 | 15,000 | 55,000 | ||||||
| Daimler Core Costs | fund | 25,000 | 24,060 | 49,060 | ||||||
| The Platinum Jubilee |
Pageant | 105,313 | (91,941) | 13,372 | ||||||
| 65,000 | 105,313 | (91,941) | 39,060 | 117,432 | ||||||
| General funds | ||||||||||
| General Funds | 42,376 | 431,947 | (369,481) | (30,186) | 74,656 | |||||
| Total Unrestricted | funds | 107,376 | 537,260 | (461,422) | 8,874 | 192,088 | ||||
| Restricted funds | ||||||||||
| Heritage Fixed Asset |
Fund | 645,000 | 645,000 | |||||||
| Coventry City Council |
—Cultural | Capital | ||||||||
| Investment Programme |
- Capital | fund | 61,345 | (61,345) | ||||||
| Leasehold Improvements |
& Equipment | 1,968,400 | (106,029) | 115,450 | 1,977,821 | |||||
| Coventry City Council |
14,666 | (14,666) | ||||||||
| Paul Hamlyn Foundation |
—Teach Make | 40,587 | 75,200 | (51,343) | 64,444 | |||||
| Arts Council England | —Bridge2Bamboo | 240,000 | (240,000) | |||||||
| Arts Council England | —CRF | 279,570 | (279,570) | |||||||
| Arts Council England | —FLOW | 35,000 | (1,916) | 33,084 | ||||||
| ACE - Continuity | 125,000 | (125,000) | ||||||||
| Arts Council England | and | Foyle | ||||||||
| Foundation —Fit-out |
72,053 | (9,074) | (62,979) | |||||||
| Other restricted income |
47,459 | (47,459) | ||||||||
| 2,787,385 | 816,895 | (875,057) | (8,874) | 2,720,349 | ||||||
| Total offunds | 2,894,761 | 1,354,155 | (1,336,479) | 2,912,437 |
| Balance at | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | Transfers | 31 March | |||||||
| 1 April 2020 | Income | Expenditure | in/out | 2021 | |||||
| F | E | ||||||||
| Unrestricted funds |
|||||||||
| Designated funds |
|||||||||
| Creative Producer | / | Projects | |||||||
| seed fund | 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 |
8 | ||||||||
| Equipment | 1,968,400 | 1,968,400 | |||||||
| Coventry City Council |
12,473 | 202,309 | (73,033) | (141,749) | |||||
| Paul Hamlyn Foundation— |
|||||||||
| Teach Make | 75,000 | (34,413) | 40,587 | ||||||
| Arts Council England- | |||||||||
| Bridge2Bamboo | 47,286 | (47,286) | |||||||
| Arts Council England | —CRF | 9,036 | (9,036) | ||||||
| Arts Council England | —FLOW | 35,000 | (35,000) | ||||||
| ACE —Continuity | 78,500 | (78,500) | |||||||
| Arts Council England | and | Foyle | |||||||
| Foundation —Fit-out |
185,000 | (112,947) | 72,053 | ||||||
| ACE —Fit out | 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 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | 31 March | ||||
| April 2021 | Income | Expenditure | in/out | 2022 | ||
| E. | F | |||||
| Designated | funds | 65,000 | 105,313 | (91,941) | 39,060 | 117,432 |
| General funds | 42,376 | 431,947 | (369,481) | (30,186) | 74,656 | |
| Restricted | funds | 2,787,385 | 816,895 | (875,057) | (8,874) | 2,720„349 |
| 2,894,761 | 1,354,155 | (1,336,479) | 2,912,437 | |||
| Summary | offunds - prior year | |||||
| Balance at | ||||||
| Balance at | Transfers | 31 March | ||||
| 1 April 2020 | Income | Expenditure | in/out | 2021 | ||
| E | E | E | ||||
| 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 |
| Analysis | of net assets between funds - cur | rent year | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| F | E | E | ||
| Tangible | fixed assets | 13,511 | 1,977,821 | 1,991,332 |
| Heritage | assets | 645,000 | 645,000 | |
| Current | assets | 307,416 | 97,528 | 404,944 |
| Creditors | due within one year | (128,839) | (128,839) | |
| Total | 192,088 | 2,720,349 | 2,912,437 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| 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 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| E | |||||||
| Net income | for the | year (as per Statement | of Financial Activities) | 17,676 | 1,954,400 | ||
| Adjustments | for: | ||||||
| Depreciation | charges | 111,424 | 5,015 | ||||
| Decrease/(increase) | in debtors | (41,154) | 216,766 | ||||
| Increase/(decrease) | in creditors | 19,016 | (270,430) | ||||
| Net cash provided | by operating | activities | 106,962 | 1,905,751 | |||
| Analysis of | cash | and cash equivalents | |||||
| 2022 | 2021 | ||||||
| E | E | ||||||
| Cash in hand |
254,245 | 346,630 | |||||
| Total cash and cash | equivalents | 254,245 | 346,630 |