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|||||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|
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|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||
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|||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|
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|||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|
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|||||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||||||
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|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|
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|||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|
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||||||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|
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|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|
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|||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|
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|||||||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|
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|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.|
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||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|
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|Godiva||
|---|---|
|Puppet|Total|
|2023f|2023|
|645,000|645,000|
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|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|
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||||||||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|
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|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|
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|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|
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|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|
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|||||||At 1 April||At 31 March|
|---|---|---|---|---|---|---|---|---|
|||||||2022|Cash flows|2023|
|||||||||E|
|Cash|at|bank|and|in|hand|254,245|(176„841)|77,404|
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||||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|
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