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2022-03-31-accounts

Company registration number: 08021875 Charity registration number: 1148022

Artcore Limited

(A company limited by guarantee)

Annual Report and Financial Statements

Year Ended 31 March 2022

Page Kirk LLP Chartered Accountants Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB

ARTCORE LIMITED

CONTENTS

----- Start of picture text -----
Reference and Administrative Details 1
Trustees' Report 2 to 9
Independent examiner's report 10
Statement of financial activities 11
Balance Sheet 13 to 14
Notes to the financial statements 15 to 31
Non statutory notes 32 to 35
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ARTCORE LIMITED REFERENCE AND ADMINISTRATIVE DETAILS

Charity name Artcore Limited Charity registration number 1148022 Company registration number 08021875 Principal and registered office 3 Charnwood Street Derby DE1 2GT Trustees P Anderson A P Ball H Davies D Good J Newling (resigned 9 May 2022) J G Pearson R Scott M Sood Solicitor Nelsons Solicitors Ltd Pennine House 8 Stanford Street Nottingham NG1 7BQ Independent examiner James Haywood ACA Page Kirk LLP Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB

Page 1

ARTCORE LIMITED

TRUSTEES' REPORT

Reference and Administrative details

eference and Administrative details
Charity name Artcore Ltd
Charity registration number 1148022
Company registration number 08021875
Registered office 3 Charnwood Street
Derby
DE1 2GT
Independent examiner James Haywood ACA
Page Kirk LLP
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB
Solicitors Nelsons Solicitors Ltd
Pennine House, 8 Stanford Street
Nottingham
NG1 7BQ
Bankers HSBC UK PLC
1 St Peter's Street
Derby
DE1 2AE

Directors and trustees

The trustees and officers who served the charity during the period were as follows:

Chair: Andrew Ball
Elected trustees: Pauline Anderson
Huw Davies
Deborah Good
John Newling
Jeff Pearson
Robert Scott
Manju Sood
Key management personnel
Executive Director: Ruchita Shaikh
Artistic Director: Mohmedzahir Shaikh

Report of the Trustees for the year ended 31 March 2022

The trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2022, which is prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

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ARTCORE LIMITED

TRUSTEES' REPORT

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015).

Vision

Artcore believes that contemporary art and creativity are central to the development of people and places.

Mission

Artcore is an international centre for contemporary art and creativity that is based in Derby, UK, and is home to a gallery, studios, work spaces, shop and cafe. A vibrant hub for commissioning, production, presentation and debate, we offer opportunities for diverse audiences to engage directly with creative practices through participation and discussion. We work with a diverse range of communities and the cultural, creative industries, community, education, health and regeneration sectors to deliver our programme.

Values

Artcore’s values are excellence, innovation, diversity, engagement, transparency and resilience.

Objectives and activities

The trustees confirm that they have given due consideration to the guidance contained in the Charity Commission’s published guidance on the Public Benefit requirements under Charities Act 2011 when they reviewed the charity’s aims and objectives for the year.

The objectives of the charity are:

(1) To advance the education of the public in the subject of art and visual art (including but not limited to painting, sculpture, arts and crafts) in Derby, Derbyshire and beyond;

(2) To promote, develop and run high-quality art events for the benefit of the public in Derby, Derbyshire and beyond;

(3) To promote art for the benefit of the public by running workshops and public art commissions in hospitals, schools, colleges and community groups in collaboration with local, national and international artists;

(4) To liaise and build partnerships with other organisations and individuals who have similar aims and objectives, and to give support, information and advice as and when appropriate.

Volunteers

Through-out 2021-22 Artcore continued to recruit volunteers in to various roles such as Admin, Workshop assistance and Event Support volunteers, etc. and as at 31st March 2022 Artcore has had 12 volunteers to support Artcore. All our volunteers receive a full induction and training in delivering and supporting our services. (COVID has again resulted in substantially less volunteer involvement than usual.)

The value of volunteering to Artcore was £14,112. It is based upon the 960 volunteering hours contributed during the year. The average hourly wage in Derby was £14.70 (ONS Annual Survey of Hours and earnings - 2019).

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ARTCORE LIMITED

TRUSTEES' REPORT

Public benefit

Artcore is committed to deliver programmes to Public Benefit. We continued to produce and present a diverse range of arts, across our galleries and studio spaces by professional artists and amateur talent. Our participatory programme went from strength to strength, with working in schools, community settings and in the two Artcore buildings itself delivering a full programme of activities for all ages.

Chair’s report

I am pleased to present our annual report for the year ended 31st March 2022.

It has been another year living with the pandemic, but Artcore has retained its passion to improve the lives of people in our communities and support artists and creatives. Strong financial management throughout this time has ensured that we are in a good position to provide the support needed to help people who have been left isolated in the aftermath of the lockdowns. Our focus this year has been on improving the mental and physical health and wellbeing of our community as society opened up. Some people have remained anxious and it is important that we support people to return to face-to-face art activities with all the health benefits that it brings.

We have made a welcome return to physical exhibitions this year, hosting 10 throughout the year, the first a direct response to lockdown, called ‘Normal service will be Resumed’. The Artcore Gallery is pivotal in bringing exhibitions into the heart of Derby city centre. This year it has undergone a major refurbishment with matched funding from Derby City Council for which we are very grateful. The building has recently reopened and looks stunning. Thank you to all our staff for their hard work throughout the refurbishment. We celebrated with a grand re-opening. We’re proud to provide an exciting arts venue that is accessible and welcoming to all. The gallery offers a stimulating workplace for artists and enables them to engage and interact with visitors. Phase 2 of the refurbishments with a capital grant from Arts Council England will allow us to improve the environmental sustainability of our building. Through our enhanced community participation programme we look forward to bringing art into the lives of more people.

I would like to thank our team for their commitment and for rising to the challenge of meeting the needs of our local community and artists during the pandemic. They are all inspirational and play a vital role in the culture of our city. I would also like to thank our funders, audiences and participants, without whom we would not be here. We will continue to support our local community and artists to make a difference to the lives of people and facing front on any challenges along the way.

The main activities undertaken in relation to delivering these objectives

This year saw the end of lockdowns and the return to a more normal way of working and was a busy period for Artcore. We reopened our buildings and welcomed back our community with open arms.

2021-22 Highlights

• June 2021 Artcore branch out and open own café. The café relaunched in May 2022 after renovations and is going from strength to strength.

• July 2021 launch of Artcore Young Artists Collective.

• December 2021 saw the closing of our building in Albert Street and the start of a series of renovations with new double-glazed windows and bi-fold doors, new flooring, the creation of 3 studio spaces, a new and much larger café and a new layout for the shop. We were also able to install a lift and a disabled toilet to make the building more accessible.

• The building reopened in May 2022 with a fantastic launch night alongside the opening of the Il Luminar exhibition.

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ARTCORE LIMITED

TRUSTEES' REPORT

• Later this year the second stage renovations with a capital grant from the Arts Council to include solar panels, insulation, an energy efficient heating system and a refurbished gallery space.

• January 2022 relaunch of our website with new branding and colour scheme.

• We hosted ‘A Celebration of Togetherness’ during Derby Peace week celebrating the communities of Derby.

• In November 2021 Diwali party filled Osnabruck Square with colour, light and Rangoli art and Music, dance and food.

• Our Festive Markers Market offered local artists and crafts people to sell their hand-made pieces.

• We had an extensive residency and exhibition programme during the year hosting ten Exhibitions supported early and mid-career artists.

• Cabin Fever a series of residencies offered artists an opportunity to test ideas and make new work in cabin on Osnabruck Square.

• An exciting community participation programme with highlights; including Shape your Future - Sixth Form students; Table Talk –taught English as a second Language creatively; Power to Empower - a craft-based employability course; Creative in Common - meaningful, expressive activity and a relaxed space to socialise after lockdowns to over 55+; Un-Aware - Funded by Derbyshire Police and Crime Commissioner and introducing topics relating to crime prevention and awareness in Derby using a variety of creative practices; Derby Peace Doves working with Derby Cathedral to exhibit a suspended installation of 8,000 white paper doves above the nave of the Cathedral; Future Endeavours - working with young people aged 10-18 incorporating art and creativity with STEAM subjects and; Reimagine - an ambitious, strategically connected performance programme generated by young people in areas with the lowest cultural engagement in Derby that culminated in a city-wide showcase at ‘Reimagine Festival’ in July 2022.

Financial Review

During the 2021/22 year:

• Adapted our buildings social distancing/ensuring safety of visitors by installing partitions.

• The year ended 31st March 2022 was a period of consolidation, with Artcore’s income of £711,502 (2021: £615,107).

• 2021/22 was the fourth year in which Artcore held National Portfolio Organisation (Arts Council England) status, and this has continued to strengthen the financial position.

• There was an increased focus on connectivity, sustainability and resilience recovering from COVID-19.

• The new city centre premises provided increased opportunities for self-generated income, although this was limited due to COVID-19.

• The COVID-19 grants helped mitigate some losses, help retain staff and ensure viability.

The overall surplus for the year was £268,849 (2021: £240,824). At the end of the period, the unrestricted funds balance was £698,448, an increase of £235,905 over the balance at the end of the previous period. The restricted funds balance was £13,353, a decrease of £103,435 over the balance at the end of the previous period.

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ARTCORE LIMITED

TRUSTEES' REPORT

Risk Management

The trustees consider that there are no material uncertainties over the charity’s ability to continue as a going concern. The trustees are focussing on strategic goal targeting, developing innovative delivery systems, being constantly aware of future challenges and how to deal with them, whilst being able to retain quality and trained staff.

The charity will continue to apply for funding through various means both internally and through external consultants. We will continue to make efforts to improve ability to raise funds and attract funds from corporate sponsors and private donors. Artcore will be encouraging its trustees and patrons to be more active in fundraising for the organisation.

The trustees are working towards establishing a sustainable financial model by diversifying and increasing levels of contributed and/or earned income. Diversifying the income base and increasing the earned income will enable Artcore to be resilient and environmentally sustainable.

Plans for the future periods

Our vision for this year and continued into 2022/23 is focused around Artcore’s new building that sits within the Cathedral Quarter, at the gateway to the Cultural Hub, enhancing the Market Hall Transformation Programme. The building supports Derby City Council’s initiative in development of the city centre and to maximise the footfall around the Osnabruck Square. Artcore is undertaking a capital development programme to support the city’s visual arts sector and regeneration providing a city central space for exhibitions, workshops, studios and events, supporting the organisation’s strategic, financial, artistic and civic development.

COVID-19 has an impact on the organisation. We had a year of innovation with digital exhibitions, use of the gallery space, events, art classes & a café opening.

We are developing innovative UK/International projects and partnerships with Felix Nussbaum Haus and Kunstraum Hase29 gallery in Osnabruck, Germany; engaging Derby’s BAME communities.

Growth and development making and sustaining the organisation

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ARTCORE LIMITED

TRUSTEES' REPORT

Artcore’s programme and organisational learning and development are inextricably linked with strategic partnerships.

Structure, Governance and Management

Artcore Limited is a company limited by guarantee and a registered charity governed by the rules set out in the Memorandum and Articles of Association. The charity has a board of trustees which is empowered to make decisions on behalf of the charity and does so at its regular meetings. A trustee must be a natural person aged 16 years or older. No one may be appointed a trustee if he or she would be disqualified from acting under the provisions of article 39 of the Articles of Association. The minimum number of trustees shall be three but (unless otherwise determined by ordinary resolution) shall not be subjected to any maximum. The first trustees shall be those persons notified to Companies House as the first trustees of the charity. A trustee may not appoint an alternate trustee or anyone to act on his or her behalf at meetings of the trustees.

Appointment of trustees

The charity may by ordinary resolution:

(1) appoint a person who is willing to act to be a trustee, and

(2) determine the rotation in which any additional trustees are to retire

No person other than a trustee retiring by rotation may be appointed a trustee at any general meeting unless:

(1) he or she is recommended for re-election by the trustees, or

(2) not less than fourteen nor more than thirty-five clear days before the start of the meeting, the charity is given a notice that:

(b) states the member’s intention to propose the appointment of a person as a trustee;

(c) contains the details that, if the person were to be appointed, the charity would have to file at Companies House, and;

(d) is signed by the person who is to be proposed to show his or her willingness to be appointed.

All members who are entitled to receive notice of a general meeting must be given not less than seven nor more than twenty-eight clear days’ notice of any resolution to be put to the meeting to appoint a trustee other than a trustee who is to retire by rotation.

The trustees may appoint a person who is willing to act to be a trustee. A trustee appointed by a resolution of the other trustees must retire at the next annual general meeting and must not be taken into account in determining the trustees who are to retire by rotation.

The appointment of a trustee, whether by the charity in a general meeting or by the other trustees, must not cause the number of trustees to exceed any number fixed as the maximum number of trustees.

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ARTCORE LIMITED

TRUSTEES' REPORT

Reserves policy

The charity requires reserves to allow it to function in the short term in the event of the cessation of funding, a major reduction in funding or a delay in further funding becoming available. The minimum level of reserves to be maintained should also satisfy all legal obligations should the charity cease to be a going concern, enabling proper notice to be given to the staff and beneficiaries and for all due payments to be made to staff (staff redundancy) and to other organisations with which we do business.

The charity's board of trustees consider that they should aim to build and retain reserves of up to nine months’ operating expenses. This target has been met as at 31 March 2022 and will facilitate the development of Artcore’s long-term aims. In order to meet their responsibilities and to ensure that the charity continues to operate on a going concern basis the trustees have reviewed the requirements and risks faced by the charity in both the short and medium term.

The accounts show a balance of restricted funds of £13,353 (note 20) and unrestricted funds of £698,448 (note 20) at 31 March 2022. At the year end, the charity had a restricted fund in deficit. This was the Power to Empower fund (£4,959) (2021: £nil). The reason for the deficit relates to expenditure which is expected to be recovered at a later date when Artcore provides their expenditure report to the Arts Council.

Trustees' responsibilities in relation to the financial statements

The trustees (who are also the directors of Artcore Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

•state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

•prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

James Haywood ACA has been expressed his willingness to continue as independent examiner for the next financial year.

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ARTCORE LIMITED

TRUSTEES' REPORT

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 12 December 2022 and signed on its behalf by:

.......................

A P Ball Trustee

Page 9

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARTCORE LIMITED

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

......................................... James Haywood ACA

Page Kirk LLP Chartered Accountants Sherwood House 7 Gregory Boulevard Nottingham NG7 6LB

12 December 2022

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ARTCORE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2022

Unrestricted
funds
Note
£
Income from
Donations and
grants
3
358,185
Charitable
activities
5
162,595
Other trading
activities
6
17,490
Total
538,270
Expenditure on
Charitable
activities
7,9
200,981
Other
8,9
3,584
Total
204,565
Net income
333,705
Net movements
in funds
235,905
Reconciliation
of funds
Total funds
brought forward
462,543
Total funds
carried forward
698,448		 Restricted
funds
£
173,232
-
-
173,232
231,134
-
231,134
(57,902)
(103,435)
116,788
13,353		 Capital grant
fund
£
-
-
-
-
6,954
-
6,954
(6,954)
136,379
23,393
159,772		 Total funds
2022
£
531,417
162,595
17,490
711,502
439,069
3,584
442,653
268,849
268,849
602,724
871,573		 Total funds
2021
£
572,166
30,498
12,443
615,107
371,964
2,319
374,283
240,824
240,824
361,900
602,724

The notes on pages 15 to 31 form an integral part of these financial statements.

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ARTCORE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2022

......... continued

Unrestricted
funds
Note
£
Income from
Donations and grants
3
269,100
Charitable activities
5
30,498
Other trading activities
6
12,443
Total
312,041
Expenditure on
Charitable activities
7,9
124,781
Other
8,9
2,319
Total
127,100
Net income
184,941
Net movements in funds
184,941
Reconciliation of funds
Total funds brought forward
277,602
Total funds carried forward
462,543		 Restricted
funds
£
303,066
-
-
303,066
244,013
-
244,013
59,053
59,053
57,735
116,788		 Capital grant
fund
£
-
-
-
-
3,170
-
3,170
(3,170)
(3,170)
26,563
23,393		 Total funds
2021
£
572,166
30,498
12,443
615,107
371,964
2,319
374,283
240,824
240,824
361,900
602,724

The notes on pages 15 to 31 form an integral part of these financial statements.

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ARTCORE LIMITED (REGISTRATION NUMBER: 08021875)

BALANCE SHEET 31 MARCH 2022

Note
Fixed assets
Tangible assets
12
Current assets
Stocks and work in progress
Debtors
13
Cash at bank and in hand
Creditors: Amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more
than one year
15
Net assets
The funds of the charity:
Capital grant fund
Restricted funds in surplus
Restricted funds in deficit
Arts Council England & Derby City Council -
Celebrating Age
Beginning to Becoming
Power to Empower
Total restricted funds
Unrestricted funds
Unrestricted income funds
Total charity funds		 2022
£
£
486,808
1,418
10,873
638,648
650,939
(61,971)
588,968
1,075,776
(204,203)
871,573
159,772
18,312
-
-
(4,959)
13,353
698,448
871,573		 2021
£
340,537
1,987
2,373
588,626
592,986
(112,055)
480,931
821,468
(218,744)
602,724
23,393
122,958
(1,187)
(4,983)
-
116,788
462,543
602,724

The notes on pages 15 to 31 form an integral part of these financial statements. Page 13

ARTCORE LIMITED (REGISTRATION NUMBER: 08021875)

BALANCE SHEET 31 MARCH 2022

......... continued

For the financial year ended 31 March 2022, 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board on 12 December 2022 and signed on its behalf by:

.........................................

A P Ball Trustee

The notes on pages 15 to 31 form an integral part of these financial statements.

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ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1 GENERAL INFORMATION

The charity is a company limited by guarantee and is incorporated in England and Wales.

The address of its registered office is: 3 Charnwood Street Derby DE1 2GT

These financial statements were authorised for issue by the Board of trustees on .

Artcore Limited is constituted as a company limited by guarantee (company registration number 08021875) and is a charity registered for charitable purposes with the Charity Commission (charity number 1148022). Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The charity is controlled by the trustees who are all directors.

2 ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Artcore Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

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ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

Preparation of the accounts on the going concern basis

The trustees consider that there are no material uncertainties over the charity’s ability to continue as a going concern. Per the trustees, Artcore is adapting to meet challenges that have arisen in the economic climate of recent years. Artcore understands the risks associated with the organisation and the projects undertaken and monitors the risks on a regular basis ensuring they are minimised by identifying the impacts and methods to minimise the effect. The trustees are focussing on strategic goal-targeting, developing innovative delivery systems, being constantly aware of future challenges and how to deal with them, whilst being able to retain quality, trained staff.

The charity will continue to apply for funding through various means both internally and through external consultants. They will also continue to make efforts to improve their ability to raise funds and attract funds from corporate sponsors and private donors. In 2019/20, Artcore purchased, and took occupation of, an additional property in Derby city centre. Applications will be made for capital funding to develop the property to include workshop and exhibition space, as well as a café and a shop. Artcore will be encouraging its trustees and patrons to be more active in fundraising for the organisation.

The trustees are working towards establishing a sustainable financial model by diversifying and increasing levels of contributed and/or earned income. Diversifying the income base and increasing earned income will enable Artcore to be resilient and environmentally sustainable.

Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates. During the preparation of these financial statements there have been no significant or material judgements and estimates that require disclosure.

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.

Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Further details of each fund are disclosed in note 20.1.

Income

Donations and grants that are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Charitable activities are recognised in different ways dependent on how they are used by the charity:

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised.

(ii) Those donated for onward transmission to beneficiaries are included in the statement of financial activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.

(iii) Those donated for the use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them.

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NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.

Other trading activity income relates to rental income and miscellaneous income which are recognised on a receivables basis.

Expenditure

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.

Fundraising expenses are the costs associated with attracting voluntary income.

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.

Expenditure on other items include those incurred in the governance of the charity and its assets and are primarily associated with statutory requirements.

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, allocation property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Fixed assets

Fixed assets 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:

Workshop equipment 20% reducing balance
Fixtures and fittings 10% reducing balance
Office equipment 20% reducing balance
Motor Vehicles 25% straight line
Leasehold land and buildings 2% straight line or over the lease term whichever is
shorter

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.

Operating leases

Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.

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NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

Pensions

The charity operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme.

Financial Instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 18

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

3 INCOME FROM DONATIONS AND GRANTS

Donations
received
Grants -
government
Grants - other
agencies		 Unrestricted
funds
£
1,360
343,465
13,360
358,185		 Restricted
funds
£
-
168,249
4,983
173,232		 Capital grant
fund
£
-
-
-
-		 Total funds
2022
£
1,360
511,714
18,343
531,417		 Total funds
2021
£
2,099
486,477
83,590
572,166

4 GRANTS RECEIVABLE

Arts Council England
BBC Children in
Need
Big Lottery Fund
Derby City Council
COVID 19 furlough
scheme
European Social
Fund
Nottingham City
Council
Police and Crime
Commission
Grants - other
agencies		 Unrestricted
funds
£
Restricted
funds
£
158,864
43,932
-
25,963
-
9,972
161,825
52,016
22,776
-
-
14,867
-
2,499
-
19,000
13,360
4,983
356,825
173,232		 Capital
grant fund
£
-
-
-
-
-
-
-
-
-
-		 Total funds
2022
£
202,796
25,963
9,972
213,841
22,776
14,867
2,499
19,000
18,343
530,057		 Total funds
2021
£
251,096
31,815
100,243
23,882
79,441
-
-
-
83,590
570,067

Page 19

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

5 INCOME FROM CHARITABLE ACTIVITIES

Charitable activities
Artistic services		 Unrestricted
funds
£
Restricted
funds
£
162,595
-		 Capital
grant fund
£
-		 Total funds
2022
£
162,595		 Total funds
2021
£
30,498

6 OTHER TRADING ACTIVITIES

Other income
Rental income
Miscellaneous
income
Income from other
investments		 Unrestricted
funds
£
Restricted
funds
£
3,620
-
13,852
-
18
-
17,490
-		 Capital
grant fund
£
-
-
-
-		 Total funds
2022
£
3,620
13,852
18
17,490		 Total funds
2021
£
5,860
6,542
41
12,443

7 COST OF CHARITABLE ACTIVITIES

Charitable activities Activities
undertaken
directly
£
439,069		 2022
£
439,069		 2021
£
371,964

8 OTHER

Support costs
allocated		 Unrestricted
funds
£
3,584		 Restricted
funds
£
-		 Capital grant
fund
£
-		 Total funds
2022
£
3,584		 Total funds
2021
£
2,319

Page 20

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

9 TOTAL RESOURCES EXPENDED

Direct costs
Opening stock
Materials
Purchases
Closing stock
Employment costs
Artist fees
Artistic expenditure
Volunteer expenses
Staff training
Rent and rates
Electricity, Water and Gas
Insurance
Premises expenses
Repairs and maintenance
Telephone
Computer software and maintenance costs
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Cleaning
Motor expenses
Travel and subsistence
Advertising
Independent examination and other
accountancy fees
Legal and professional fees
Bank charges
Loan interest
Depreciation of leasehold property
Depreciation of workshop equipment
Depreciation of fixtures and fittings
Depreciation of office equipment		 Charitable
activities
£
1,987
22,100
11,950
(1,418)
240,271
36,313
2,863
3,020
1,080
12,481
787
2,251
18,329
3,207
1,343
12,100
618
3,602
5,336
170
2,695
790
18,625
-
11,738
46
8,556
7,563
3,099
5,877
1,690
439,069		 Other
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,584
-
-
-
-
-
-
-
3,584		 Total
£
1,987
22,100
11,950
(1,418)
240,271
36,313
2,863
3,020
1,080
12,481
787
2,251
18,329
3,207
1,343
12,100
618
3,602
5,336
170
2,695
790
18,625
3,584
11,738
46
8,556
7,563
3,099
5,877
1,690
442,653

Page 21

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

10 INDEPENDENT EXAMINATION

Independent examination 2022
£
2,140		 2021
£
1,944

11 EMPLOYEES' REMUNERATION

The average number of persons employed by the charity (excluding trustees) during the year was as follows:

Average number of employees
The aggregate payroll costs of these persons were as follows:
Wages and salaries
Social security
Other pension costs		 2022
No.
10
2022
£
222,156
13,761
4,354
240,271		 2021
No.
8
2021
£
185,008
9,881
3,327
198,216

No employee received emoluments in excess of £60,000.

Trustees' remuneration and expenses

No trustees received any remuneration or had expenses reimbursed during the year.

Page 22

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

12 TANGIBLE FIXED ASSETS

Cost
As at 1 April, 2021
Additions
As at 31 March, 2022
Depreciation
As at 1 April, 2021
Charge for the year
As at 31 March, 2022
Net book value
As at 31 March, 2022
As at 31 March, 2021		 Motor vehicles
£
14,497
-
14,497
14,497
-
14,497
-
-		 Leasehold land
and buildings
£
307,963
42,204
350,167
11,608
7,563
19,171
330,996
296,355		 Workshop
equipment
£
11,729
11,251
22,980
1,810
3,099
4,909
18,071
9,919		 Fixtures and
fittings
£
Office equipment
£
39,131
15,648
109,278
1,767
148,409
17,415
12,653
7,863
5,877
1,690
18,530
9,553
129,879
7,862
26,478
7,785		 Total
£
388,968
164,500
553,468
48,431
18,229
66,660
486,808
340,537

Page 23

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

13 DEBTORS

Trade debtors
Other debtors
Prepayments and accrued income		 2022
£
9,403
438
1,032
10,873		 2021
£
1,855
518
-
2,373

14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts
Trade creditors
Taxation and social security
Other creditors
Accruals and deferred income		 2022
£
13,743
19,791
8,758
3,396
16,283
61,971		 2021
£
11,902
10,551
4,958
8,291
76,353
112,055

At the year end, deferred income amounted to £9,083 (2021 - £66,795) with £57,752 released to income from donations/ grants (2021 - £2,750). Deferred income relates to grants and donations not finalised by the year end.

15 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022
£
Bank loans and overdrafts
204,203
Included in the creditors are the following amounts due after more than 5 years:
2022
£
After more than five years by instalments
153,585		 2021
£
218,744
2021
£
150,514

Page 24

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

16 OPERATING LEASE COMMITMENTS

As at 31 March 2022 the charity had total commitments under non-cancellable operating leases as follows:

Within one year
Within two and five years
Over five years		 Land and
2022
£
10,000
40,000
35,000
85,000		 Buildings
2021
£
10,000
40,000
45,000
95,000

17 PENSION SCHEME

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £4,354 (2021 - £3,327).

Contributions totalling £1,806 (2021 - £1,183) were payable to the scheme at the end of the period and are included in creditors.

18 FINANCIAL INSTRUMENTS

Categorisation of financial instruments

Categorisation of financial instruments
2021 2021
£ £
Financial assets measured at amortised cost 652,660 59,099
Financial liabilities measured at amortised cost 259,470 99,325,841

Items of income, expense, gains or losses

The total interest income for financial assets not measured at fair value through profit or loss is £19 (2021 - £42).

Page 25

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

19 RELATED PARTIES

Controlling entity

The charity is controlled by the trustees who are all directors of the company.

Key management personnel

Total employee benefits paid to key management personnel 2022
£
116,222		 2021
£
110,362

Page 26

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

20 ANALYSIS OF FUNDS

General funds
Unrestricted
general funds
Restricted funds
Arts Council
England & Derby
City Council -
Celebrating Age
Big Lottery Fund -
Art Enhancing Life
Awards for All -
Creating Cafe
European Social
Fund - Dare to
Dream
Future Endeavours
Beginning to
Becoming
Henry Moore FDN -
Artist Exhibition
MIND - In Our
Thoughts
ACE - CRF 1
Postcode
Community Trust -
Un Aware
Creative in Common
UnAware
Digital Equipment
Power to Empower
Creative minds
E Bikes
ACE - CRF 2
Capital grant fund
Capital grant fund		 At 1 April
2021
£
462,543
(1,187)
-
8,516
287
21,663
(4,983)
1,500
9,415
38,676
18,066
24,835
-
-
-
-
-
-
116,788
23,393
602,724		 Income
£
538,270
1,187
-
-
-
25,963
4,983
-
-
4,852
-
2,893
19,000
2,499
14,867
9,972
2,416
84,600
173,232
-
711,502		 Expenditure
£
(204,565)
-
-
(6,663)
(287)
(35,238)
-
(1,500)
(9,415)
(16,344)
(18,066)
(27,728)
(19,000)
-
(18,226)
(2,048)
-
(76,619)
(231,134)
(6,954)
(442,653)		 Transfers
£
(97,800)
-
-
(1,853)
-
(2,000)
-
-
-
(27,184)
-
-
-
(2,499)
(1,600)
-
(2,416)
(7,981)
(45,533)
143,333
-		 At 31 March
2022
£
698,448
-
-
-
-
10,388
-
-
-
-
-
-
-
-
(4,959)
7,924
-
-
13,353
159,772
871,573

Page 27

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

General funds
Unrestricted general funds
Restricted funds
Arts Council England & Derby City
Council - Celebrating Age
BBC Children in Need - Innocence
& Expression
Big Lottery Fund - Art Enhancing
Life
Derby City Council - STEAM 2
Awards for All - Creating Cafe
Notts Community Foundation -
Street smART
European Social Fund - Dare to
Dream
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
UnAware
Digital Equipment
Power to Empower
Creative minds
E Bikes
ACE - CRF 2
Capital grant fund
Capital grant fund		 At 1 April
2020
£
277,602
(5,398)
4,691
37,114
8,203
8,516
2,935
1,674
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
57,735
26,563
361,900		 Income
£
312,041
20,000
5,852
49,243
-
-
-
14,207
25,963
14,949
51,000
6,800
3,000
17,865
48,726
19,426
26,035
-
-
-
-
-
-
303,066
-
615,107		 Expenditure
£
(127,100)
(15,789)
(10,543)
(86,357)
(8,203)
-
(2,935)
(15,594)
(4,300)
(19,932)
(51,000)
(6,800)
(1,500)
(8,450)
(10,050)
(1,360)
(1,200)
-
-
-
-
-
-
(244,013)
(3,170)
(374,283)		 At 31 March
2021
£
462,543
(1,187)
-
-
-
8,516
-
287
21,663
(4,983)
-
-
1,500
9,415
38,676
18,066
24,835
-
-
-
-
-
-
116,788
23,393
602,724

Page 28

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

Arts Council England & Derby City Council - Celebrating Age: The Fund is specifically aimed at working with older people in the city to reduce isolation.

BBC Children in Need - Innocence & Expression: The Fund is used for working with children and young people in learning different forms of art techniques.

Big Lottery Fund - Art Enhancing Life: The Fund is used for providing regular provision at Artcore in the areas of Community cohesion, Education and Learning and Health and well-being.

Big Lottery Fund - Art for the Community: The Fund is used towards upskilling of selected workshop participants with provision for materials, equipment and advice so that they can create craft items to be sold in Artcore's shop, Craftcore.

Derby City Council - STEAM Project: The fund is used for delivery of an art programme at Village Primary School.

Derby City Council - Small Arts Grant: The Fund is used towards costs of Artists Housing Project.

Derby City Council - STEAM 2: For delivery of art programme at Dale Community and Zaytouna Primary Schools.

European Social Fund - Create Your Future: Provision of workshops to facilitate transition of participants into employment or further education.

Foundation Derbs/ Toyota/ Migrant Help - Silent Library: For delivery of engagement activities for refugees and assylum seekers.

PCC/ Rank/ Bernard Sunley - Charnwood Street Security: For improvement of security at Charnwood Street premises.

Awards for All - Creating Cafe: For establishment of a café at Charnwood Street premises.

Notts Community foundation - Street smART: To conduct street art workshops for young people.

Community Action - Winter Warmer: To hold a coffee morning for communities with advice and information on health and wellbeing activities.

European Social Fund - Dare to Dream: Provision of workshops to facilitate transition of participants into employment or further education.

Future Endeavours: A programme to develop skills in Young people and explore future careers and opportunities.

Beginning to Becoming: Offering unemployed learners opportunity to learn craft, online and digital skills to help their employability options.

Enhancing Connections: Supporting participants during COVID lockdowns by offering online surgeries, Online creative workshops, digital equipment and to connect online.

Stay Connected: Creative activities to connect isolated communities and their well-being.

Page 29

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

Henry Moore FDN - Artist Exhibition: Developing artists via solo exhibition programme.

MIND - In Our Thoughts: Supporting communities via creative activities to cope with their mental health, loss and bereavement during the Coronavirus pandemic.

ACE - CRF 1: Provide support for the charity to ensure that all buildings were safe to reopen, retaining staff and build the charity's digital capacity.

Postcode Community Trust - Un Aware: A creative programme focussing on empowering communities to feel focused and supported.

Creative in Common: A cultural programme combating loneliness as a result of Covid-19.

Police and Crime Commission - UnAware: A programme working with the most vulnerable in communities to help keep them safe from crime and being victims of crime.

Nottingham City Council - Digital Equipment: Purchase of technology items.

European Social Fund - Power to empower: Support a range of creative activities that mobilise disadvantaged or excluded unemployed people towards employment.

Awards for All - Creative minds: A programme to develop creativity and imagination.

Derby City Council - E-Bikes: Purchase of electronic bikes.

ACE - CRF 2: Developed online resources, including Artcore Website and Digital Display at Artcore cultural hub.

Page 30

ARTCORE LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

21 NET ASSETS BY FUND

Tangible assets
Current assets
Creditors: Amounts falling due within one year
Creditors: Amounts falling due after more than one year
Net assets
Tangible assets
Current assets
Creditors: Amounts falling due within one year
Creditors: Amounts falling due after more than one year
Net assets		 Unrestricted
funds
Restricted
funds
£
£
327,036
-
632,627
18,312
(57,012)
(4,959)
(204,203)
-
698,448
13,353
Unrestricted
funds
£
317,144
470,029
(105,885)
(218,744)
462,544		 Capital grant
fund
Total Funds
2022
£
£
159,772
486,808
-
650,939
-
(61,971)
-
(204,203)
159,772
871,573
Restricted
funds
Capital grant
fund
£
£
-
23,393
122,957
-
(6,170)
-
-
-
116,787
23,393		 Capital grant
fund
Total Funds
2022
£
£
159,772
486,808
-
650,939
-
(61,971)
-
(204,203)
159,772
871,573
Restricted
funds
Capital grant
fund
£
£
-
23,393
122,957
-
(6,170)
-
-
-
116,787
23,393		 Total Funds
2021
£
340,537
592,986
(112,055)
(218,744)
698,448 159,772 602,724
Total 2021
£
340,537
592,986
(112,055)
(218,744)
602,724
Restricted
funds
£
-
122,957
(6,170)
-
116,787

Page 31

ARTCORE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES BY FUND YEAR ENDED 31 MARCH 2022

Charitable activities
Opening stock
Materials
Purchases
Closing stock
Wages and salaries
Staff NIC (Employers)
Staff pensions (Defined
contribution)
Artist fees
Artistic expenditure
Volunteer expenses
Staff training
Rent and rates
Premises expenses
Electricity, Water and Gas
Insurance
Repairs and maintenance
Computer software and
maintenance costs
Telephone
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Cleaning
Motor expenses
Travel and subsistence
Advertising
Legal and professional fees
Bank charges
Loan interest
Depreciation of workshop
equipment
Depreciation of leasehold property
Depreciation of fixtures and fittings
Depreciation of office equipment		 2022
Unrestricted
funds
£
1,987
3,650
11,950
(1,418)
73,014
13,761
4,354
24,498
2,863
456
708
(629)
12,955
387
2,251
-
-
-
-
3,302
2,762
170
2,695
590
9,660
11,138
46
8,556
1,689
6,988
1,603
995
200,981		 2022
Restricted
funds
£
-
18,450
-
-
149,142
-
-
11,815
-
2,564
372
13,110
5,374
400
-
3,207
12,100
1,343
618
300
2,574
-
-
200
8,965
600
-
-
-
-
-
-
231,134		 2022
Capital grant
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,810
1,489
7,288
2,233
12,820		 2022
Total
£
1,987
22,100
11,950
(1,418)
222,156
13,761
4,354
36,313
2,863
3,020
1,080
12,481
18,329
787
2,251
3,207
12,100
1,343
618
3,602
5,336
170
2,695
790
18,625
11,738
46
8,556
3,099
7,563
5,877
1,690
439,069

This page does not form part of the statutory financial statements.

Page 32

ARTCORE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES BY FUND YEAR ENDED 31 MARCH 2022

......... continued
Other
Independent examination and
other accountancy fees
Total resources expended		 2022
Unrestricted
funds
£
3,584
3,584
204,565		 2022
Restricted
funds
£
-
-
231,134		 2022
Capital grant
funds
£
-
-
12,820		 2022
Total
£
3,584
3,584
442,653

This page does not form part of the statutory financial statements.

Page 33

ARTCORE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES BY FUND YEAR ENDED 31 MARCH 2022

......... continued
Charitable activities
Opening stock
Materials
Closing stock
Wages and salaries
Staff NIC (Employers)
Staff pensions (Defined
contribution)
Artist fees
Artistic expenditure
Volunteer expenses
Rent and rates
Premises expenses
Electricity, Water and Gas
Insurance
Repairs and maintenance
Computer software and
maintenance costs
Telephone
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Cleaning
Motor expenses
Travel and subsistence
Advertising
Legal and professional fees
Loan interest
Depreciation of workshop
equipment
Depreciation of leasehold property
Depreciation of fixtures and fittings
Depreciation of office equipment		 2021
Unrestricted
funds
£
1,598
1,479
(1,987)
57,732
9,881
3,327
401
3,599
1,180
3,167
1,900
1,446
2,331
4,502
172
1,412
108
54
400
21
-
-
2,576
14,355
5,407
328
6,850
1,298
1,244
124,781		 2021
Restricted
funds
£
-
21,364
-
127,276
-
-
15,582
7,733
2,620
9,820
3,318
800
400
12,537
19,488
-
659
1,278
216
500
2,177
346
17,899
-
-
-
-
-
-
244,013		 2021
Capital grant
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2021
Total
£
1,598
22,843
(1,987)
185,008
9,881
3,327
15,983
11,332
3,800
12,987
5,218
2,246
2,731
17,039
19,660
1,412
767
1,332
616
521
2,177
346
20,475
14,355
5,407
697
7,307
2,940
1,946
371,964

This page does not form part of the statutory financial statements.

Page 34

ARTCORE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES BY FUND YEAR ENDED 31 MARCH 2022

......... continued
Other
Independent examination and
other accountancy fees
Total resources expended		 2021
Unrestricted
funds
£
2,319
2,319
127,100		 2021
Restricted
funds
£
-
-
244,013		 2021
Capital grant
funds
£
-
-
12,820		 2021
Total
£
2,319
2,319
374,283

This page does not form part of the statutory financial statements.

Page 35

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Signature 1

Signed by Andrew Ball using authentication code TWZ0PkleZ15pV1Zc at IP address 51.52.42.18, on 2022/12/13 15:23:04 Z.

Andrew Ball's e-mail address is: andy@balls2marketing.co.uk.