| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details ofthe company, | its Trustees and advisers | ||
| Trustees' report |
2-6 | |||
| Independent auditors' |
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 C Thompson | ||||
| Dr G Sharp | ||||
| Mrs M Kaur | ||||
| Mr SStewart | ||||
| Ms H Pilling (appointed | 2 March 2023) | |||
| Company | registered | |||
| number | 07409629 | |||
| Charity registered | ||||
| number | 1140913 | |||
| Registered | office | Unit 4, Sandy Lane Business Park | ||
| Daimler Powerhouse | ||||
| Sandy Lane | ||||
| Coventry | ||||
| West Midlands | ||||
| CV14DQ | ||||
| Chief executive officer | J Hytch | |||
| Independent | auditors | Dains Audit Limited | ||
| 15Colmore Row | ||||
| Birmingham | ||||
| B32BH |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| Note | 2023 E |
2023f | 2023 | 2022f | |
| Income from: | |||||
| Donations and legacies |
1,000 | 35,447 | 36,447 | 179,063 | |
| Charitable activities |
181,240 | 501,425 | 682,665 | 1,136,483 | |
| Other trading activities |
73,876 | 73,876 | 38,609 | ||
| Total income | 256,116 | 536,872 | 792,988 | 1,354,155 | |
| Expenditure on: |
|||||
| Charitable activities |
380,276 | 719,158 | 1,099,434 | 1,336,479 | |
| Total expenditure | 380,276 | 719,158 | 1,099,434 | 1,336,479 | |
| Net movement in funds |
(124,160) | (182,286) | (306,446) | 17,676 | |
| Reconciliation offunds: |
|||||
| Total funds brought forward |
15 | 192,088 | 2,720,349 | 2,912,437 | 2,894,761 |
| Net movement in funds |
(124,160) | (182,286) | (306,446) | 17,676 | |
| Total funds carried forward | 15 | 67,928 | 2,538,063 | 2,605,991 | 2,912,437 |
| Note | 2023f | 2022f | ||||
|---|---|---|---|---|---|---|
| Fixed assets | ||||||
| Tangible assets | 11 | 1,884,038 | 1,991,332 | |||
| Heritage assets | 12 | 645,000 | 645,000 | |||
| 2,529,038 | 2,636,332 | |||||
| Current assets | ||||||
| Debtors | 13 | 106,546 | 150,699 | |||
| Cash at bank and | in hand | 77,404 | 254,245 | |||
| 183,950 | 404,944 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 14 | (106,997) | (128,839) | |||
| Net current assets | 76,953 | 276,105 | ||||
| Total net assets | 2,605,991 | 2,912,437 | ||||
| Charity funds | ||||||
| Restricted funds | 15 | 2,538,063 | 2,720,349 | |||
| Unrestricted funds |
15 | 67,928 | 192,088 | |||
| Total funds | 2,605,991 | 2,912,437 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | E | E | |||
| Cash flows from operating | activities | ||||
| Net cash used in operating |
activities | 18 | (171,467) | 106,962 | |
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed assets |
(5,374) | (117,347) | |||
| Net cash used in investing |
activities | (5,374) | (117,347) | ||
| Cash flows from financing | activities | ||||
| Repayments of borrowing |
(82,000) | ||||
| Net cash used in financing |
activities | (82,000) | |||
| Change in cash and cash |
equivalents in |
the year | (176,841) | (92,385) | |
| Cash and cash equivalents | at the beginning | ofthe year | 254,245 | 346,630 | |
| Cash and cash equivalents | at the end of | the year | 19 | 77,404 | 254,245 |
| The notes on pages 14to 30form part ofthese financial statements |
| Unrestricted | Restricted | Total |
|---|---|---|
| funds | funds | funds |
| 2023 | 2023 | 2023 |
| E | ||
| 1,000 | 35,447 | 36,447 |
| Unrestricted | Restricted | Total |
|---|---|---|
| funds | funds | funds |
| 2022f | 2022 | 2022f |
| 172,863 | 6,200 | 179,063 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2023 E |
2023 E |
2023f | ||
| Grants | received | 181,240 | 501,425 | 682,665 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| Grants | received | 325,788 | 810,695 | 1,136,483 |
| Unrestricted | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2023 E |
2023f | |||||
| Events, | rent | and | other | income | 73,876 | 73,876 |
| Unrestricted | Total | |||||
| funds | funds | |||||
| 2022f | 2022 | |||||
| Events, | rent | and | other | income | 38,609 | 38,609 |
| Charitable | activities | |
|---|---|---|
| Summary | by expenditure | type |
| Unrestricted | Restricted | |
|---|---|---|
| funds | funds | Total |
| 2023 | 2023 | 2023 |
| f | E | f. |
| 380,276 | 719,158 | 1,099,434 |
| Unrestricted | Restricted | |
| funds | funds | Total |
| 2022f | 2022 f. |
2022 f. |
| 461,422 | 875,057 | 1,336,479 |
| Staff costs | Depreciation | Other costs | Total | ||
|---|---|---|---|---|---|
| 2023 E |
2023 f |
2023 E |
2023 | ||
| Charitable | activities | 125,950 | 112,668 | 860,816 | 1,099,434 |
| Staff costs | Depreciation | Other costs | Total | ||
| 2022 f |
2022 | 2022 E |
2022 | ||
| Charitable | activities | 95,591 | 111,424 | 1,129,464 | 1,336,479 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | ||
| directly | costs | funds | ||
| 2023f | 2023f | 2023f | ||
| Charitable | activities | 650,208 | 449,226 | 1,099,434 |
| Activities | ||||
| undertaken | Support | Total | ||
| directly | costs | funds | ||
| 2022 | 2022 | 2022 | ||
| E | K | E | ||
| Charitable | activities | 884,531 | 451,948 | 1,336,479 |
| Analysis | ofdirect costs | |||
| Total | Total | |||
| funds | funds | |||
| 2023 | 2022 | |||
| Project costs | 650,208 | 884,531 |
| Total | Total | ||||||
|---|---|---|---|---|---|---|---|
| funds | funds | ||||||
| 2023 | 2022 | ||||||
| Staff costs | 125,950 | 95,591 | |||||
| Depreciation | 112,668 | 111,424 | |||||
| Office costs | 53,090 | 44,563 | |||||
| Financial management | 47,500 | 46,000 | |||||
| Freelance support | staff | 40,122 | 88,734 | ||||
| Rent | 32,600 | 34,254 | |||||
| Premises costs | 19,236 | 14,570 | |||||
| Accountancy | fees | 1,753 | 3,648 | ||||
| Other support | fees | 7,128 | 6,423 | ||||
| Advertising | 1,045 | ||||||
| Bank charges | 224 | 241 | |||||
| Governance | costs | 7,910 | 6,500 | ||||
| 449,226 | 451,948 | ||||||
| Auditors' remuneration |
|||||||
| 2023 | 2022 | ||||||
| E | |||||||
| Fees payable to the company's annual accounts |
auditor | for | the audit ofthe company's | 7,150 | 6,500 | ||
| Fees payable | to the company's | auditor | in | respect of: | |||
| All taxation advisory services not included | above | 1,390 | 1,360 |
| Staff costs | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| E | ||||
| Wages and | salaries | 119,818 | 90,472 | |
| Social security costs | 4,265 | 4,091 | ||
| Contribution | to defined contribution | pension schemes | 1,867 | 1,028 |
| 125,950 | 95,591 |
| 2023 | 2022 |
|---|---|
| No. | No. |
| Long-term | |||
|---|---|---|---|
| leasehold | Office | ||
| propertyf | equipment | Totalf | |
| Cost or valuation | |||
| At 1 April 2022 | 2,066,021 | 47,305 | 2,113,326 |
| Additions | 5,374 | 5,374 | |
| At 31 March 2023 | 2,066,021 | 52,679 | 2,118,700 |
| Depreciation | |||
| At 1 April 2022 | 103,386 | 18,608 | 121,994 |
| Charge for the year | 103,440 | 9,228 | 112,668 |
| At 31 March 2023 | 206,826 | 27,836 | 234,662 |
| Net book value | |||
| At 31 March 2023 | 1,859,195 | 24,843 | 1,884,038 |
| At 31 March 2022 | 1,962,635 | 28,697 | 1,991,332 |
| Godiva | |
|---|---|
| Puppet | Total |
| 2023f | 2023 |
| 645,000 | 645,000 |
| Debtors | |||
|---|---|---|---|
| 2023f | 2022 E |
||
| Due within one year | |||
| Trade debtors | 2,950 | 88,571 | |
| Other debtors | 2„258 | 1,097 | |
| Prepayments | and accrued income | 101,338 | 61,031 |
| 106,546 | 150,699 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Trade creditors | 28,890 | 44,478 | ||||
| Other taxation and | social security | 6,310 | 4,400 | |||
| Other creditors | 435 | 4,236 | ||||
| Accruals | and deferred | income | 71,362 | 75,725 | ||
| 106,997 | 128,839 | |||||
| 2023 F |
2022f | |||||
| Deferred | income at 1 April 2022 | 14,748 | 22,075 | |||
| Resources deferred | during the year | 32,000 | 14,748 | |||
| Amounts | released | from previous | periods | (14,748) | (22,075) | |
| 32,000 | 14,748 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | 31 INarch | |||||
| April 2022 F |
Income E |
Expenditure E |
in/out | 2023f | |||
| Unrestricted funds |
|||||||
| Designated funds |
|||||||
| Creative Producer / |
Projects | ||||||
| seed fund | 55,000 | (31,000) | 24,000 | ||||
| Daimler Core Costs | fund | 49,060 | (49,060) | ||||
| The Platinum Jubilee Pageant |
13,372 | 100,000 | (113,372) | ||||
| 117,432 | 100,000 | (144,372) | (49,060) | 24,000 | |||
| General funds | |||||||
| General Funds | 74,656 | 156,116 | (235,904) | 49,060 | 43,928 | ||
| Total Unrestricted | funds | 192,088 | 256,116 | (380,276) | 67,928 | ||
| Restricted funds | |||||||
| Heritage Fixed Asset Fund |
645,000 | 645,000 | |||||
| I easehold Improvements Equipment |
8 | 1,977,821 | (107,011) | 1,870,810 | |||
| Coventry City Council - FLOW |
14,666 | (14,666) | |||||
| Paul Hamlyn Foundation— |
|||||||
| Teach Make | 64,444 | (49,986) | 14,458 | ||||
| Arts Council England- | |||||||
| Bridge2Bamboo | 98,000 | (98,000) | |||||
| Arts Council England | —FLOW | 33,084 | 35,000 | (68,084) | |||
| ESF —Transformations | FLOW | 47,274 | (47,274) | ||||
| ESF—Transformations | (post- | ||||||
| FLOW) | 73,609 | (73,609) | |||||
| Dundu I ight Festival |
8,821 | (8,821) | |||||
| ACE Pause 8 Plan grant | 65,000 | (57,205) | 7,795 | ||||
| Other restricted income |
194,502 | (194,502) | |||||
| 2,720,349 | 536,872 | (719,158) | 2,538,063 | ||||
| Total offunds | 2,912,437 | 792,988 | (1,099,434) | 2,605,991 |
| Statement offunds - prior year | Statement offunds - prior year | Statement offunds - prior year | ||||||
|---|---|---|---|---|---|---|---|---|
| Balance at | Balance at | |||||||
| 1 April | Transfers | 31 March | ||||||
| 2021 | Income | Expenditure | in/out | 2022 | ||||
| F | F | |||||||
| 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 |
8 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) | ||||||
| ACE 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 |
| Summary | offunds - current ye | ar | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Transfers | 31 INarch | ||||
| April 2022f | Income | Expendituref | in/outf | 2023f | ||
| Designated | funds | 117,432 | 100,000 | (144,372) | (49,060) | 24,000 |
| General funds | 74,656 | 156,116 | (235,904) | 49,060 | 43,928 | |
| Restricted | funds | 2,720,349 | 536,872 | (719,158) | 2,538,063 | |
| 2,912,437 | 792,988 | (1,099,434) | 2,605,991 | |||
| Summary | offunds - prior year | |||||
| Balance at | ||||||
| Balance at | Transfers | 31 March | ||||
| 1 April 2021 E |
Income f |
Expenditure | in/out | 2022f | ||
| 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 |
| Analysis | of net assets between funds - cur | rent year | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2023 | 2023 E |
2023f | ||
| Tangible | fixed assets | 13,228 | 1,870,810 | 1,884,038 |
| Heritage | assets | 645,000 | 645,000 | |
| Current | assets | 129,697 | 54,253 | 183,950 |
| Creditors | due within one year | (74,997) | (32,000) | (106,997) |
| Total | 67,928 | 2,538,063 | 2,605,991 |
| Analysis | of net assets between funds - prio | r year | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022f | 2022 | 2022f | ||
| 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) | |
| 192,088 | 2,720,349 | 2,912,437 |
| Reconciliation of |
net | movem | ent | in fun | ds | t | o net | cash flow | from | operating | activities | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||||||
| E | E | |||||||||||
| Net income/expenditure |
for | the | year | (as | per | Statement | of | Financial | ||||
| Activities) | (306,446) | 17,676 | ||||||||||
| Adjustments for: |
||||||||||||
| Depreciation charges |
112,668 | 111,424 | ||||||||||
| Decrease/(increase) | in | debtors | 43,747 | (41,154) | ||||||||
| Increase/(decrease) | in | creditors | (21,436) | 19,016 | ||||||||
| Net cash provided | by/(used | in) | operating | activities | (171,467) | 106,962 | ||||||
| Analysis ofcash | and | cash equivalents | ||||||||||
| 2023f | 2022 E |
|||||||||||
| Cash in hand |
77,404 | 254,245 | ||||||||||
| Total cash and cash equivalents | 77,404 | 254,245 |
| At 1 April | At 31 March | |||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | Cash flows | 2023 | ||||||
| E | ||||||||
| Cash | at | bank | and | in | hand | 254,245 | (176„841) | 77,404 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| F | E | |||
| Not later than | 1 year | 33,100 | 32,600 | |
| Later than | 1 year and not later than 5years | 130,400 | 130,400 | |
| Later than | 5 years | 391,200 | 423,800 | |
| 554,700 | 586,800 |