2021-03-31-accounts - Artcore Limited

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Reference and Administrative	Reference and Administrative
Trustees' Report		2to10
Independent examiner's report		11to 12
Statement offinancial	activities	13
Balance Sheet		15to 16
Cash flow statement		17
Notes to the financial	statements	18to 35

Charity	name	name				Artcore Limited	Artcore Limited	Artcore Limited
Charity	registration			number		1148022
Company		registration			number	08021875
Principal		and	registered offic			3Chamwood		Street
						Derby
						DE1 2GT
Trustees						PAnderson
						AP Ball
						H Device
						D Good
						J Newllng
						J G Pearson
						R Scott
						M Sood
Solicitor						Nelsons Solicitors			Ltd
						Pennine House
						8 Standford		Street
						NoNngham
						NG1 7BQ
Independent			examiner			James Haywood			ACA
						Page Kirk	LLP
						Sherwood	House
						7Gregory	Boulevard
						Nottingham
						NG7 6LB

eference and Ad	eference and Ad	eference and Ad	mini	strative details
Charity name					Artcore Ltd
Charity registration			number		1148022
Company	registration			number	08021875
Registered		office			3Chamwood		Street
					Derby
					DE12GT
Independent		examiner			James Heywood ACA
					Page Kirk	LLP
					Sherwood	House
					7Gregory	Boulevard
					Nottingham
					NG7 SLB
Solicitors					Nelsons Solicitors Ltd
					Pennine House, 8 Stanford Street
					Notffngham
					NG17BQ
Bankers					HSBC UK	PLC
					1 StPeter's		Street
					Derby
					DE1 2AE

he trustees and of	ficers who serve	d the charity during th	e perio
Chain		Andrew Ball
Elected trustees:		Pauline Anderson
		Huw Device
		Deborah Good
		John Newling
		JeffPcarson
		Robert Scott
		Manju Sood
Key management	personnel
Executive Directed		Ruchita Shalkh
Artistic Dlrecton		Mohmedzahtr	Sheikh

			Unrestricted	Restricted	Capital	grant	Total funds	Total funds
			funds	funds	fund		2021	2020
		Note	E	f	E		E	f
Income from
Donations and grants		3	269,100	303,066			572,166	389,608
Charitable activities			30,498				30,498	70,564
Other trading activities Total			12,443 312,041	303,066			12,443 615,107	22,840 483,012
Expenditure	on
Charitable activities Other Total		7,9 8,9	124,781 2,319 127,100	244,013 244,013		3,170 3,170	371,964 2,319 374,283	410,597 2,501 413,098
Net income			184,941	59,053	(3,170)		240,824	69,914
Net movements in funds			184,941	59,053	(3,170)		240,824	69,914
Reconciliation
offunds
Total funds brought forward			277,602	57,735	26,563		361,900	291,986
Total funds carried forward			462,643	116,708	23,393		602,724	361,900

.....conlfnued
			Unrestricted	Restricted	Capital grant	Total funds
			funds	funds	fund	2020
		Note	6
Income from Donations and grants Charitable activities		5	167,490 70,564	192,859	29,259	389,608 70,564
Other trading activities Total		6	22,840 260,894	192,859	29,259	22,840 483,012
Expenditure on Charitable activities Other Total		7,9 8,9	148,202 901 149,103	259,699 1,600 261,299	2,696 2,696	410,597 2,501 413,098
Net income			111,791	(68,440)	26,563	69,914
Net movements in	funds		111,791	(68,440)	26,563	69,914
Reconciliation of Total funds brought Total funds carried	funds forward forward		165,811 277,602	126,175 57,735	26,563	291,986 361,900

			2021		2020
		Note	F
Fixed assets
Tangible assets		12		340,537	334,276
Current assets
Stocks and work in progress Debtors		13	1,987 2,373		1,598 5,635
Cash at bank and In	hand		588,626		280,159
			592,986		287,392
Creditors: Amounts one year	failing due within	14	(112,055)		(78,897)
Net current assets				480,931	208,495
Total assets less current liabilities				821,468	542,771
Creditors: Amounts than one year	falling due after more	15		(218,744)	(180,871)
Net assets				602,724	361,900
The funds ofthe charity:
Capital grant fund				23,393	26,563
Restricted funds in	surplus		122,958		63,133
Restricted funds In	deficit
Arts Council England & Derby City Council- Celebrating Age Beginning to Becoming Total restricted funds			(1,187) (4,983)	116,788	(5,398) 57,735
Unrestricted funds
Unrestricted Income	funds			462,543	277,602
Total charity funds				602,724	361,900

		2021 6	2020f
Cash flows from operating activities Net income/(expenditure) for the reporting	period	240,824	69,914
Adjustments to cash flows from non-cash Depreciation and amoitisation	items:	12,890	9,152
Dividends, interest and rents from Investments		(42)	(128)
(Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating	activities	(389) 3,262 25,840 282,385	(1,014) 13,640 19,163 110,727
Cash flows from Investing activities Dividends, interest and rents from investments Purchase oftangible fixed assets Net cash provided by (used in) Investing activities		42 (19,150) (19,108)	128 (311,393) (311,265)
Cash flows from financing activities Repayments of borrowing Cash inflows from new borrowing Net cash provided by (used in) financing	activities	(4,810) 50,000 45,190	(3,543) 189,000 185,457
Change in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March		308,467 280,159 588,626	(15,081) 295,240 280,159
Cash in hand Total cash and cash equivalents		588,626 588,626	280,159 280,159

estimated residual value, over the	ir expected useful	economic life as follows:
Workshop equipment Fixtures and fittings	20% reducing 10%reducing	balance balance
Office equipment Motor Vehicles	20% reducing 25%straight	balance line
Leasehold land and buildings	2%straight line or over the lease term whichever		is
	shorter

	Unrestricted	Restricted	Capital grant	Total funds	Total funds
	funds	funds	fund	2021	2020
	6	6	6	E	6
Donations received	2,099			2,099	7,490
Grants- government	264,267	222,210		486,477	318,435
Grants - other agencies	2,734	80,856		83,590	63,683
	269,100	303,066		572,166	389,608

	Unrestricted	Restricted	Capital	Total funds	Total funds
	funds	funds E	grant fund f	2021 6	2020 6
Arts Council England	162,944	88,152		251,096	194,981
BBCChildren in Need		31,815		31,815
Big Lottery Fund Derby City Council	21,882	100,243 2,000		100,243 23,882	97,544 25,910
COVID 19furlough scheme	79,441			79,441
Grants - other agencies	2,734	80,856		83,590	63,683
	267,001	303,066		570,067	382,118

		Unrestricted	Restricted	Capital	Total funds	Total funds
		funds	funds	grant fund	2021	2020
		F	6	F	F	F
Charitable	activities
Workshop Income Artistic services		30,498			30,498	3,825 66,739
		30,498			30,498	70,564

	Unrestricted	Restricted	Capital	Total funds	Total funds
	funds	funds 6	grant fund 6	2021 6	2020 6
Other income
Rental income	5,860			5,860	13,945
Miscellaneous income	6,542			6,542	8,767
Income from other	41			41	128
Investments
	12,443			12,443	22,840

		Activities
		undertaken	2021	2020
		directly	6	6
		F
Charitable	activities	371,964	371,964	410,597

		Unrestricted	Restricted	Capital grant	Total funds	Total funds
		funds F	funds F	fund f	2021 f	2020 6
Support allocated	costs	2,319			2,319	2,501

9	TOTAL RESOURCES EXPENDED
			Charitable activities	Other	Total
	Direct costs
	Opening stock Materials		1,598 22,843		1,598 22,843
	Closing stock Employment costs Artist fees		(1,987) 198,216 15,983		(1,987) 198,216 15,983
	Artistic expenditure Volunteer expenses Rent and rates		11,332 3,800 12,987		11,332 3,800 12,987
	Electricity, Water and Gas Insurance		2,246 2,731		2,246 2,731
	Premises expenses Repairs and maintenance Telephone Computer software and maintenance Printing, postage and stationery Trade subscriptions Sundry expenses Cleaning Motor expenses Travel and subsistence	costs	5,218 17,039 1,412 19,660 767 1,332 616 521 2,177 346		5,218 17,039 1,412 19,660 767 1,332 616 521 2,177 346
	Advertising		20,475		20,475
	Independent examination and other accountancy fees Legal and professional fees Loan interest		14,355 5,407	2,319	2,319 14,355 5,407
	Depreciation ofleasehold property Depreciation ofworkshop equipment Depreciation offixtures and fittings Depreciation ofoffice equipment		7,307 697 2,940 1,946 371,964	2,319	7,307 697 2,940 1,946 374,283
10	INDEPENDENT EXAMINATION
				2021	2020
				E	E
	Independent examination				1,800

		2021	2020
		No.	No.
Average number ofemployees
The aggregate	payroll costs of these persons were as follows:
		2021	2020
		6	6
Wages and salaries Socialsecurity Other pension costs		185,008 9,881 3,327 198,216	224,140 11,398 3,699 239,237

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		2021	2020
Trade debtors Other debtors Prepayments	and accrued income	1,855 518 2,373	4,620 265 750 5,635

	2021f	2020 6
Bank loans and overdrafts Trade creditors Taxation and social security Other creditors Accruals and deferred income	11,902 10,551 4,958 8,291 76,353 112,055	4,585 29,699 3,584 7,702 33,327 78,897

				2021	2020
				5	E
Bank loans and overdrafts				215,244	180,871
Included	in the creditors are the following	amounts	due after	more than 5years:
				2021	2020
				F	6
After more than five years by instalments				15~,514	160,447

		Land and	Buildings
		2021	2020
		F	F
Within Within Over	one year two and five years five years	10,000 40,000 45,000 95,000	10,000 40,000 55,000 105,000

				2021		2020
				f		6
Returns on investment Other investment income			and servicing offinance		42		128

						2021	2020
						6
	Net Incoming resources Investment income					240,824 (42)	69,914 (128)
	Depreciation, amortisation Increase in stocks	and impairment			charges	12,890 (389)	9,152 (1,014)
	Decrease in debtors Increase in creditors					3,262 25,840	13,640 19,163
	Net cash inflow from operating			activities		282,385	110,727
20	FINANCIAL INSTRUMENTS
	Categorisatlon offinancial		Instruments			2021	2020
						F	6
	Financial assets measured		at amortised		cost	590,999	285,044
	Financial liabilities measured		at	amoitised	cost	325,841	255,184

	Key management personnel
				2021f	2020 6
	Total employee benefits paid to key	management personnel		110,362	100,667
22	ANALYSIS OF FUNDS
		At 1 April			At 31 March
		2020	Income	Expenditure	2021
	Generalfunds
	Unrestricted general funds	277,602	312,041	(127,100)	462,543
	Restricted funds
	Arts Council England 8 Derby City Council - Celebrating Age	(5,398)	20,000	(15,789)	(1,187)
	BBCChildren in Need - Innocence 8 Expression	4,691	5,852	(10,543)
	Big Lottery Fund -Art Enhancing Life	37,114	49,243	(86,357)
	Derby City Council -STEAM 2 Awards for All - Creating Cafe	8,203 8,516		(8,203)	8,516
	Notts Community Foundation- Street smART	2,935		(2,935)
	European Social Fund - Dare to Dream	1,674	14,207	(15,594)	287
	Future Endeavours		25,963	(4,300)	21,663
	Beginning to Becoming Enhancing Connections		14,949 51,000	(19,932) (51,000)	(4,983)
	Stay Connected Henry Moore FDN -Artist Exhibition MIND - In Our Thoughts ACE - CRF 1		6,800 3,000 17,865 48,726	(6,800) (1,500) (8,450) (10,050)	1,500 9,415 38,676
	Postcode Community Trust - Un Aware Creative in Common		19,426 26,035	(1,360) (1,200)	18,066 24,835
		57,735	303,066	(244,013)	116,788
	Capital grant fund Capital grant fund	26,563		(3,170)	23,393
		361,900	615,107	(374,283)	602,724

	At 1 April			At 31 March
	2019	Income	Expenditure	2020
General funds
Unrestricted general funds	165,811	260,894	(149,103)	277,602
Restricted funds
Arts Council England -Attachments	9,241	(9,241)
Arts Council England - Elevate	10,340	14,981	(25,321)
Tudor Trust- Staff Costs Fund	13,057		(13,057)
Peoples Health Trust - Our Stories	(2,245)	2,042	203
Arts Council England & Derby City Council - Celebrating Age	25,852	25,000	(56,250)	(5,398)
BBCChildren in Need - Innocence &Expression	4,109	9,988	(9,406)	4,691
Big Lottery Fund -Art Enhancing Life	48,716	85,896	(97,498)	37,114
Big Lottery Fund -Art for the Community Derby City Council -STEAM	4,950 12,155	967	(4,950) (13,122)
Derby City Council -Small Arts Grants Derby City Council -STEAM 2		1,000 22,443	(1,000) (14,240)	8,203
European Social Fund - Create your future		18,942	(18,942)
Foundation Derbs/ Toyota/ Migrant Help -Silent Library		1,229	(1,229)
PCC/Rank/Bernard Sunley-
Charnwood Street Security Awards forAll - Creating Cafe		9,750	(1,234)	8,516
Notts Community Foundation- Street smART		5,000	(2,065)	2,935
Community Action - Winter Warmer		500	(500)
European Social Fund -Dare to Dream		4,362	(2,688)	1,674
Future Endeavours
Beginning to Becoming
Enhancing Connections
Stay Connected
Henry Moore FDN -Artist Exhibition
MIND - In Our Thoughts
ACE - CRF 1
Postcode Community Trust - Un
Aware
Creative in Common
	126,175	192,859	(261,299)	57,735

Capital Capital	grant grant	fund fund		29,259	(2,696)	26,563
			291,986	483,012	(413,098)	361,900