Company registration number: 07757326 Charity registration number: 1144382 ## Foxlowe Arts Centre Limited (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 October 2021 P L Whittaker Taxation 50 Broad Street Leek Staffordshire ST13 5NS ## **Foxlowe Arts Centre Limited** ## **Contents** **----- Start of picture text -----**
Reference and Administrative Details 1
Trustees' Report 2 to 4
Independent examiner's report 5
Statement of financial activities 6
Balance Sheet 7 to 8
Notes to the financial statements 9 to 15
**----- End of picture text -----**
The following page does not form part of the statutory financial statements: Statement of financial activities per fund 16 ## **Foxlowe Arts Centre Limited Reference and Administrative Details** |**Charity name**|Foxlowe Arts Centre Limited| |---|---| |**Charity registration number**|1144382| |**Company registration number**|07757326| |**Principal office**|Market Place| ||Leek| ||Staffordshire| ||ST13 6AD| |**Registered office**|Market Place| ||Leek| ||Staffordshire| ||ST13 6AD| |**Trustees**|Peter Kent-Baguley| ||Colin Broome| ||Andrew Norton| ||David Bell| ||Marc Briand| ||Chris Thompson, Chair| ||Belinda Hargreaves| ||Claire Parton| |**Accountant**|P L Whittaker Taxation| ||50 Broad Street| ||Leek| ||Staffordshire| ||ST13 5NS| Page 1 ## **Foxlowe Arts Centre Limited** ## **Trustees' Report** Our financial year coincided with the second national lockdown on the 5th November 2020. A third national lockdown ran from the 6th January until March, with a phased exit. During this time we lost a considerable amount of money. Once again we wouldn’t have survived without the support of our Pledgers, the Creative Hub, our Foxlowe Loan Scheme, government grants and prudence. Although the arts programme was curtailed, we still managed to organise a Lockdown Dragon Drawing competition in conjunction with Leek Arts Festival - won by 8 year old Ethan Meharg. The redecoration of the front door and arches was completed, with new brass door furniture kindly donated by the Fox and Crow Gallery. We also completed the redecoration of the partially derelict side entrance to the Creative Hub studios, and installed a new disabled access ramp funded by a SMDC Disabled Facilities Grant. The Bromfield (main room) had more work done to it with a new stage, wire racking, redecoration of the rear half and new curtains. When we were allowed to open, a DragonFly Sculpture by Martin Evens was unveiled at HuG Green Arts Festival, the first Eco and wellbeing event organised by Moorlands Climate Action (MCA). Money raised went to ‘hug’ the building in insulation. The idea is that when we finish insulating this building we will ‘hug’ the next. This event also helped to raise awareness of climate change and global warming, and the ways in which individuals can help. During lockdown Rotten Park Road live-streamed their show ‘In the Leek Midwinter’ - a first for the arts centre. There may have been fewer arts activities but we still managed a varied programme. Leek Comedy Club started again in July, and there were performances from Eddy Brimson, Aziz Ibrahim, Tom Binns, China Crisis, Stephen Bailey, Robin Hitchcock, River Folk Festival, Henge & Gary Delany. In conjunction with Leek Blues Festival we had on stage Jerry Joseph, Son of Dave, The Achievers and Ian Siegal. Yet again a big thanks to Andy Norton for putting on such amazing acts, not only is Andy our Music and Comedy Coordinator he is also the Arts Centre’s financial director. Georgia Louise and Claire Mellor stepped down as Café Gallery Coordinators and Andy Gale picked up the baton, Cath Walton stepped down as Talks Coordinator but is still involved with local history and an amazing source of knowledge. The Talks Coordinator role is vacant. Financially we did well just to break even on the arts under the very difficult circumstances of a world-wide pandemic. We estimate that we have lost in the region of £35,000 in potential revenue; this has fortunately not affected our existing reserves but this will impact on a reduction for essential repairs for the following year. Also we weren’t able to put extra into the Loan Scheme if anyone wanted an early release of their loan, and we weren’t able to put money back into our essential reserves. Our theatre organised by Michael Quine has evolved from the expertise of Live and Local and we are now also going direct to theatre companies and the combination of this and Live and Local means original theatre in Leek looks promising for the future. A big thanks to our supporters and especially to our Coordinators who make everything happen. **Each year we invite Coordinators to make.** The following section gives more insight into some of those areas. **More** information can be found in our past leaflet archive. ## **Foxlowe Film** A decision was taken in early 2020 not to open in the face of the Covid pandemic. Even once government guidelines were eased, it didn’t prove feasible or practical to start up again over the Spring and Summer of 2021 for a number of reasons which included: - Age profile of audience -mainly older and potentially vulnerable - Age profile of volunteers for the same reason - The ventilation in the Rainbow Room does not allow minimum standards for ventilation. - By the end of the summer2021 we thought we would test the water to ascertain film goers’ Page 2 ## **Foxlowe Arts Centre Limited** ## **Trustees' Report** readiness and confidence to return. We put on a mini-programme of 4 films, starting September 28th and ending on October 19th 2021. These were the only films screened in the year 20-22. Total number of films 4 Total number of attendees 158 Average attendees 39 Total income £790 Total expenses £448.36 Surplus £341.64 While attendances were somewhat average (people may still be cautious), this gave us confidence to plan a full programme for Spring 2022. During this period, we recognised the need for some succession planning to share the work load and ensure sustainability. The original group has been involved for 10 years and while still keen to be involved are not for various reasons able to contribute to the same extent to the same extent. We were delighted to welcome Helen Beech taking over Maggie’s role of sourcing and booking films and is part of the core administration group of five. Sheena’s ‘early door’s’ role has been taken over by volunteers Erica Kemp-Lovatt, Nelly Ferrari and Judy Herbert. Initially Erica was available but now has a broken leg. Kas Hare and Kate Watson have joined Dawn and Liz on tickets, they have been with us since the beginning. Kas was previously on projection which leaves us short of a projectionist. Patricia Geraghty, Kate Hamey, Simon Hall are now volunteering on the bar. Chris Firkins sets out the chairs and welcomes people at the front door. We are appreciative of all the new excellent volunteers but we need a larger cohort, particularly for projection, early doors, which involves opening up and ensuring everything is in place and ready, and organizing the weekly volunteer rota (Sheena due to health reasons is stepping down from this role). ## Maureen Wiskin 17.05.22 ## **Foxlowe Garden** The Foxlowe garden has continued to be a popular venue, especially during Covid, with the opportunities it provided for outdoor meetings and the appreciation of nature. Nevertheless, we had to cancel or modify some of our events, including the Wreath Workshops that normally take place in December and our indoor Seed Shares in March and April. However, we were able to hold a very successful outdoor Plant Share in May, co-hosted with the Nature Group at Moorlands Climate Action. This was one of a sequence of joint events with MCA, others being the gardeners’ participation in their quarterly market stalls, planned to promote climate-friendly gardening with stocks of green manure seeds and peat-free composts. We took an active part in supporting HuG, Leek’s first Green Arts Festival, organised by MCA in July and were delighted to have their support for our reinstated Apple Fest in October. During the spring we participated in No-Mow May, promoting the idea of a shaggier lawn and lots more wildflowers and insects. These seem to have a definite appeal, as we’ve since gained several more enthusiastic volunteers. ## Alison McCrea (Garden Coordinator) ## **FoxDox (Foxlowe Documentary Films)** FoxDox, was badly hit by Covid, like so many film programmes. However, we did manage to screen one socially distanced film, _Living the Change_ , in October 2021, which had a reasonable turnout of 26 and was very well received with an audience rating of 4.6/5 stars. Plans are to return to normal as soon as possible in the 2022-23 seasons. Alison McCrea Page 3 ## **Foxlowe Arts Centre Limited** ## **Trustees' Report** ## **Foxlowe Gallery** After the Christmas exhibition, November 2020 to January 2021, there was a 18 week break because of COVID restrictions. Once the COVID restrictions were lifted, there was still a hesitancy of people coming back both to steward and to visit the gallery post COVID. Each exhibition, SoTart, Bennett Family, Midlands Textile Forum, and John Thirlwall and Lesley Miller between May 2021 and October 2021 provided a variety of very good work. There were no problems setting up and taking down the exhibitions and adequate information was provided by the artists to be put onto the Foxlowe website, I will be stepping down from January 2022 and Nena Selmes will be the new Co-ordinator and I wish her all the best. In summary it has been a very difficult year but the exhibited work has been of a high Charles Walker ## **Volunteers** The total number of volunteers is probably still around 100. After the COVID lockdowns etc. many volunteers, understandingly, chose not to return, or preferred to wait before committing themselves. However numbers are again growing. 2021 showed 15 new offers of support with the most popular areas being the Café/kitchen, the garden and the galleries, also offers of help in the building and maintenance areas and stewarding for events. There is interest in drama workshops and costume design – query about possible fashion shows as have been held previously, taking in college students and local businesses. As before, one off projects are popular – easier to commit to and have an end product. Buxton and Leek Colleges are keen to restart student placements for the coming academic year. Some of these placements may be supported by college staff although employers and job centres are not back on board so far. The data of volunteers’ hours is necessarily not complete due to closures. A great deal of work on refurbishments and rebuilding has been done but not included in the figures. Again, very many off site hours are involved but not included. Marion Fenton (Volunteer Coordinator) ## **Small company provisions** This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Approved by the Board on 21 July 2022 and signed on its behalf by: ......................................... Chris Thompson Trustee Page 4 ## **Independent Examiner's Report to the Trustees of** ## **Foxlowe Arts Centre Limited** I report on the accounts of the company for the year ended 31 October 2021, which are set out on pages 6 to 15. ## **Respective responsibilities of trustees and examiner** The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and - state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ......................................... Peter Lee Whittaker P L Whittaker Taxation 21 July 2022 50 Broad Street Leek Staffordshire ST13 5NS Page 5 ## **Foxlowe Arts Centre Limited** ## **Statement of Financial Activities (including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) for the Year Ended 31 October 2021** |**Note**
**Incoming resources**
Incoming resources from generated funds
Voluntary income
2
Incoming resources from charitable activities
4
Total incoming resources
**Resources expended**
Charitable activities
5
Total resources expended
Net income before other recognised gains and losses
**Other recognised gains/losses**
Gains/(losses) on investment assets
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**Funds**
**£**
53,468
123,580
177,048
85,198
85,198
91,850
91,850
604,297
696,147|**Total Funds**
**2021**
**£**
53,468
123,580
177,048
85,198
85,198
91,850
91,850
604,297
696,147|**Total Funds**
**2020**
**£**
50,367
103,439| |---|---|---|---| ||||153,806| ||||75,329| ||||75,329| ||||78,477
(19,320)
623,617| ||||604,297| ||||| The notes on pages 9 to 15 form an integral part of these financial statements. Page 6 ## **Foxlowe Arts Centre Limited (Registration number: 07757326)** ## **Balance Sheet as at 31 October 2021** |**Note**
**Fixed assets**
Tangible assets
10
Investments
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Creditors: Amounts falling**
**due within one year**
13
**Net current liabilities**
**Net assets**
**The funds of the charity:**
**Unrestricted funds**
Revaluation reserve
Other reserves
Unrestricted income funds
**Total unrestricted funds**
**Total charity funds**|**2021**
**£**
**£**
826,590
100
826,690
220,644
109,145
329,789
(460,332)
(130,543)
696,147
-
(97,797)
793,944
696,147
696,147|**2020**
**£**
**£**
826,989
100
827,089
210,944
44,067
255,011
(477,803)
(222,792)
604,297
(97,797)
-
702,094
604,297
604,297|**2020**
**£**
**£**
826,989
100
827,089
210,944
44,067
255,011
(477,803)
(222,792)
604,297
(97,797)
-
702,094
604,297
604,297| |---|---|---|---| ||||827,089
(222,792)| ||||604,297| ||||(97,797)
-
702,094
604,297| ||||604,297| The notes on pages 9 to 15 form an integral part of these financial statements. Page 7 ## **Foxlowe Arts Centre Limited (Registration number: 07757326)** ## **Balance Sheet as at 31 October 2021** _......... continued_ For the financial year ended 31 October 2021, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and with the Financial Reporting Standard for Smaller Entities (effective April 2008 January 2015). Approved by the Board on 21 July 2022 and signed on its behalf by: ......................................... Chris Thompson Trustee The notes on pages 9 to 15 form an integral part of these financial statements. Page 8 **Notes to the Financial Statements for the Year Ended 31 October 2021** ## **Foxlowe Arts Centre Limited** ## **1 Accounting policies** ## **Basis of preparation** The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. ## **Fund accounting policy** Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Further details of each fund are disclosed in note 16. ## **Incoming resources** Voluntary income including legacies and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract. ## **Resources expended** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Support costs** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ## **Fixed assets** Individual fixed assets costing £0 or more are initially recorded at cost. ## **Depreciation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Plant and machinery 25% reducing balance basis Property improvements 10% straight line basis Fixed assets are included in the balance sheet at revalued amounts. Page 9 ## **Foxlowe Arts Centre Limited** ## **Notes to the Financial Statements for the Year Ended 31 October 2021** _......... continued_ ## **Investments** Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of the financial activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end. ## **2 Voluntary income** |**Donations and legacies**
Donations and pledges
**Grants**
Grants - other agencies|**Unrestricted**
**Funds**
**£**
28,509
24,959
53,468|**Total Funds**
**2021**
**£**
28,509
24,959
53,468|**Total Funds**
**2020**
**£**
25,367
25,000| |---|---|---|---| ||||50,367| ## **3 Grants receivable** Grants - other agencies |**Unrestricted**|**Total Funds**|**Total Funds**| |---|---|---| |**Funds**|**2021**|**2020**| |**£**|**£**|**£**| |24,959|24,959|25,000| Page 10 ## **Foxlowe Arts Centre Limited** ## **Notes to the Financial Statements for the Year Ended 31 October 2021** _......... continued_ ## **4 Incoming resources from charitable activities** |**Charitable activity 1**
Theatre
Gallery
Room hire
Other income
Interest on cash deposits
**Total resources expended**
**Direct costs**
Cost of goods sold
Employment costs
Other direct costs
Employment costs
Establishment costs
Repairs and maintenance
Office expenses
Accountancy fees
Interest payable
Depreciation of tangible fixed assets
**Support costs**
Legal and professional costs|**Unrestricted**
**Funds**
**£**
43,544
4,369
37,136
38,531
-|**Total Funds**
**2021**
**£**
43,544
4,369
37,136
38,531
-
123,580
**Charitable**
**activity 1**
**£**
40,364
100
180
8,732
16,652
6,828
1,931
1,146
7,680
399
84,012
1,186
85,198|**Total Funds**
**2020**
**£**
61,752
-
26,911
-
14,776| |---|---|---|---| ||123,580||103,439| ||||**Total**
**£**
40,364
100
180
8,732
16,652
6,828
1,931
1,146
7,680
399| ||||84,012
1,186| ||||85,198| ## **5 Total resources expended** ## **6 Trustees' remuneration and expenses** No trustees received any remuneration during the year. Page 11 ## **Foxlowe Arts Centre Limited** ## **Notes to the Financial Statements for the Year Ended 31 October 2021** _......... continued_ ## **7 Net income** Net income is stated after charging: |Depreciation of tangible fixed assets
**Employees' remuneration**
The aggregate payroll costs of these persons were as follows:
Wages and salaries|**2021**
**£**
399
**2021**
**£**
8,732|**2020**
**£**
497| |---|---|---| |||**2020**
**£**
8,780| ## **8 Employees' remuneration** No employee received emoluments of more than £60,000 during the year (2020 - No. 0). ## **9 Taxation** The company is a registered charity and is, therefore, exempt from taxation. Page 12 ## **Foxlowe Arts Centre Limited** ## **Notes to the Financial Statements for the Year Ended 31 October 2021** _......... continued_ ## **10 Tangible fixed assets** |**Freehold**
**interest in land**
**and buildings**
**(including**
**heritage assets)**
**£**
**Cost**
As at 1 November 2020 and 31
October 2021
825,000
**Depreciation**
As at 1 November 2020
-
Charge for the year
-
As at 31 October 2021
-
**Net book value**
As at 31 October 2021
825,000
As at 31 October 2020
825,000|**Plant and**
**machinery**
**including**
**motor vehicles**
**£**
11,524
9,535
399
9,934
1,590
1,989|**Building**
**improvements**
**£**
6,928
6,928
-
6,928
-
-|**Total**
**£**
843,452
16,463
399
16,862
826,590
826,989| |---|---|---|---| ## **11 Investments held as fixed assets** |**Market value**
As at 1 November 2020 and 31 October 2021
**Net book value**
As at 31 October 2021
As at 31 October 2020
All investment assets were held in the UK.
**Debtors**
Other debtors
Page 13|**2021**
**£**
220,644|**Other**
**investments**
**£**
100| |---|---|---| |||100| |||100| |||**2020**
**£**
210,944| |||| ## **12 Debtors** ## **Foxlowe Arts Centre Limited** ## **Notes to the Financial Statements for the Year Ended 31 October 2021** _......... continued_ ## **13 Creditors: Amounts falling due within one year** |Bank loans and overdrafts
Other creditors
Accruals and deferred income|**2021**
**£**
460,332
-
-
460,332|**2020**
**£**
427,003
50,000
800| |---|---|---| |||477,803| ## **14 Members' liability** The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £nil towards the assets of the charity in the event of liquidation. Page 14 ## **Foxlowe Arts Centre Limited** ## **Notes to the Financial Statements for the Year Ended 31 October 2021** _......... continued_ ## **15 Related parties** ## **Controlling entity** The charity is controlled by the trustees who are all directors of the company. ## **16 Analysis of funds** |**General Funds**
Unrestricted income fund|**At 1**
**November**
**2020**
**£**
604,297|**Incoming**
**resources**
**£**
177,048|**Resources**
**expended**
**£**
(85,198)|**At 31**
**October**
**2021**
**£**
696,147| |---|---|---|---|---| ## **17 Net assets by fund** |Tangible assets
Investments
Current assets
Creditors: Amounts falling due within one year
***Balance sheet suspense***
Net assets|**Unrestricted**
**Funds**
**£**
826,590
100
329,789
(460,332)
-
696,147|**Total Funds**
**2021**
**£**
826,590
100
329,789
(460,332)
-
696,147|**Total Funds**
**2020**
**£**
826,989
100
255,011
(477,803)
-
604,297| |---|---|---|---| Page 15 ## **Foxlowe Arts Centre Limited** ## **Statement of financial activities by fund Year Ended 31 October 2021** |**Incoming resources**
Incoming resources from generated funds
Voluntary income
Incoming resources from charitable activities
Total incoming resources
**Resources expended**
Charitable activities
Total resources expended
Net income before other recognised gains and losses
**Other recognised gains/losses**
Gains/(losses) on investment assets
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**income fund**
**2021**
**£**
53,468
123,580
177,048
85,198
85,198
91,850
91,850
604,297
696,147|**Unrestricted**
**income fund**
**2020**
**£**
50,367
103,439| |---|---|---| |||153,806| |||75,329| |||75,329| |||78,477
(19,320)
623,617| |||604,297| |||| This page does not form part of the statutory financial statements. Page 16