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|||||||Page|
|---|---|---|---|---|---|---|
|Trustees'
annual
report (incorporating
the director's|||report)||||
|Independent|auditor's
report to the members||||||
|Consolidated|statement offinancial
activities (including|||income and expenditure|account)||
|Consolidated|and charity
statement offinancial|position||||10|
|Consolidated|statement ofcash flows||||||
|Notes to the|financial
statements|||||12|
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|Reference|Reference|and administrative|and administrative|details||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Registered||charity name|||Project Space Leeds|||||||
|Charity|registration||number||1148716|||||||
|Company||registration|number||07123227|||||||
|Principal||office and registered|||The Tetley|||||||
|office|||||Hunslet
Road|||||||
||||||Leeds|||||||
||||||LS101JQ|||||||
|The Trustees|||||Mr JD Hill|||||||
||||||Mr JM Straight|||||||
||||||Ms JD Cameron|||||||
||||||Mr M D Pattinson|||||||
||||||Miss SNetherwood|||||||
||||||Mr A M PL Lovitt|||||||
||||||Mr D J Warren|||||||
||||||Mr SJFoster|||||||
||||||Mr FJFinlay (Chair)|||||||
||||||Ms G Pollock|||||||
||||||Ms D LGreen||||(Resigned|23rd June 2020)||
||||||Mr P C RLewis||||(Resigned|31December|2020)|
||||||Mr SBarclay||||(Appointed|19November|2020)|
|Company||secretary|||Joss Richardson|||||||
|Auditor|||||Sagars Accountants|Ltd||||||
||||||Chartered
accountants||&statutory|auditor||||
||||||Gresham
House|||||||
||||||5-7 StPaul's Street|||||||
||||||Leeds|||||||
||||||Ls1 2JG|||||||
|Bankers|||||Lloyds|||||||
||||||65-68 Briggate|||||||
||||||Leeds|||||||
||||||Ls1 6LH|||||||
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|The day-to-day
man|a|gement|o|fthe charity
is delega|ted
to the management
team listed below:|ted
to the management
team listed below:|
|---|---|---|---|---|---|---|
|Director|||||Bryony Bond (maternity
leave &om 12 August 2019to||
||||||17June 2020)||
|Director (maternity|cover)||||Helen Watson (&om|12August 2019to 14July 2020)|
|Head ofCommercial||&Visitor||Experience|Sam Fish (maternity|leave from 13September 2020)|
|Operations
Manager||(maternity||cover)|Adam Dabrowski
(&om 6 September 2021)||
|Head ofDevelopment||and|Engagement||Adam Roe||
|Head ofFinance (maternity|||cover)||Helen Nakhwal
(until|29 January 2021)|
|Head ofFinance|||||Ben Ashdown
(&om|22 February 2021)|
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|Year ended 31|stMar|ch 202|1|||||
|---|---|---|---|---|---|---|---|
|||||2021|||2020|
||||Unrestricted|Restricted|Endowment|||
||||funds|funds|funds|Total funds|Total funds|
|||Note||||||
|Income and endowments||||||||
|Donations
and legacies|||1,071,940|377,480||1,449,420|565,142|
|Charitable
activities|||25,290|11,779||37,069|72,905|
|Other trading activities|||69,009|||69,009|843,245|
|Investment
income|||15|||15|38|
|Other income|||16,794|||16,794|23,325|
|Total income|||1,183,048|389,259||1,572,307|1,504,655|
|Expenditure||||||||
|Expenditure
on:||||||||
|Raising funds||10/11|541,656|63,480||605,136|946,169|
|Charitable
activities||10/11|489,188|35,972|19,250|544,410|669,217|
|Total expenditure|||1,030,844|99,452|19,250|1,149,546|1,615,385|
|Net income/(expenditure)||and||||||
|net movement
in|funds||152,204|289,807|(19,250)|422,761|(110,730)|
|Reconciliation
of|funds|||||||
|Total funds brought|forward||193,910|3,284|70,583|267,777|378,507|
|Total funds carried forward|||346,114|293,091|51,333|690,538|267,777|
##
||||2021||2020||
|---|---|---|---|---|---|---|
|||Note|||||
||||Group|Charity|Group|Charity|
|Fixed assets|||||||
|Intangible
assets||18|4,267|4,267|5,867|5,867|
|Tangible
fixed assets||19|185,440|140,629|267,258|196,917|
|Investments||20||1||I|
||||189,707|144,897|273,125|202,785|
|Current
assets|||||||
|Stock||21|8,468||8,867||
|Debtors||22|38,123|172,933|36,258|71,040|
|Cash at bank and in hand|||722,426|640,918|185,131|124,833|
||||769,017|813,851|230,256|195,873|
|Creditors: amounts|falling due within||||||
|one year||23|169,641|39,315|167,848|51,633|
|Net current assets|||599/76|774/36|62,408|144,240|
|Total assets less current liabilities|||789,083|919,433|335,533|347,025|
|Creditors: amounts|falling due after more|24|||||
|than one year|||98,545||67,756||
|Net assets|||690,538|919,433|267,777|347,025|
|Funds ofthe charity|||||||
|Endowment
funds|||51,333|51,333|70,583|70,583|
|Restricted
funds|||293,091|293,091|3,2&4|3,284|
|Unrestricted
funds|||346,114|575,009|193,910|273,158|
|Total charity funds||25|690,538|919,433|267,777|347,025|
##
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|Year ended 31st|M|arc|h 2021||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|Cash flows from operating|||activities||||
|Net (expenditure)/income|||||422,761|(110,730)|
|Adjustments for:|||||||
|Depreciation oftangible|fixed||assets||81,819|81,105|
|Amortisation
ofintangible||assets|||1,600|1,600|
|Interest paid|||||2,863|4,563|
|Changes in:|||||||
|Trade and other debtors|||||(1,865)|22,145|
|Trade and other creditors|||||(5,561)|(13,337)|
|Stocks|||||399|5,786|
|Cash generated
from operations|||||502,016|(8,868)|
|Cash flows from investing|||activities||||
|Purchase oftangible
assets||||||(24,348)|
|Net cash used in investing||activities||||(24,348)|
|Cash flows from financing|||activities||||
|Proceeds from borrowings|||||50,000||
|Repayment ofborrowings|||||(11,858)|(24,441)|
|Interest paid|||||(2,863)|(4,563)|
|Net cash used in investing||activities|||35,279|(29,004)|
|Net (decrease)/increase||in|cash and cash|equivalents|537/95|(62,220)|
|Cash and cash equivalents|||at beginning|ofyear|185,131|247,351|
|Cash and cash equivalents|||at end ofyear||722,426|185,131|
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|Ye|ar ended 31stMarch 2021||||
|---|---|---|---|---|
|5.|Donations
and legacies||||
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2021|
|||f.|||
||Donations||||
||Grants receivable|852,585|252,480|1,105,065|
||Donated goods and services|218,012||218,012|
||Other donations|1,343|125,000|126/43|
|||1,071,940|377,480|1,449,420|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2020|
||Donations||||
||Grants receivable|250,000|74,700|324,700|
||Donated goods and services|233,937||233,937|
||Other donations|6,505||6,505|
|||490,442|74,700|565,142|
||Donated
goods|and|services|services|above|above|includes|the following|items|which|have
been|included
at the|Trustees
best|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||estimates ofthe|amounts||they|would||have to pay to obtain similar goods and services on|||||the open market.||
|||||||||||||2021|2020|
||Rent and rates|||||||||||218,012|228,832|
||Other donations||||||||||||5,105|
|||||||||||||218,012|233,937|
|6.|Charitable
activities|||||||||||||
|||||||||||Unrestricted||Restricted|Total Funds|
||||||||||||Funds|Funds|2021|
||Rental income||||||||||25,092||25,092|
||Grants received|||||||||||11,779|11,779|
||Other charitable|income|||||||||198||198|
||||||||||||25,290|11,779|37,069|
|||||||||||Unrestricted||Restricted|Total Funds|
||||||||||||Funds|Funds|2020|
||Rental income||||||||||55,908||55,908|
||Artists'
commissions||and|speaking||fees|||||4,000||4,000|
||Other charitable|income|||||||||12,997||12,997|
||||||||||||72,905||72,905|
##
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##
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|---|---|
||||||Funds|2021|Funds|2020|
||Sponsorships||||||10,000|10,000|
||Bar and|restaurant||sales|69,009|69,009|833,245|833,245|
||||||69,009|69,009|843,245|843,245|
|S.|Investment
income||||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2021|Funds|2020|
||Other interest receivable||||15|15|38|38|
|9.|Other income||||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2021|Funds|2020|
||Museum|and galleries tax relief|||16,794|16,794|20,791|20,791|
||Other income||||||2,534|2,534|
||||||16,794|16,794|23,325|23,325|
|10.|Resources expended||||||||
||Costs of|charitable||activities|||||
|||||||Other direct||Total Funds|
||||||Staff costs|costs|Support costs|2021|
||Costs of|charitable||activities|158,125|39,568|346,717|544,410|
|||||||Other direct||Total Funds|
||||||Staff costs|costs|Support costs|2020|
||Costs of|charitable||activities|181,733|100,751|386,733|669,217|
||Costs of|raising|funds||||||
|||||||Other direct||Total Funds|
||||||Staff costs|costs|Support costs|2021|
||Costs of|raising|funds||341,990|110,290|152,856|605,136|
|||||||Other direct||Total Funds|
||||||Staffcosts|costs|Support costs|2020|
||Costs of|raising|funds||416,654|36&,545|160,969|946,168|
##
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|Yea|r ended 3|1stMarch 2021|1stMarch 2021||||||
|---|---|---|---|---|---|---|---|---|
|11.|Expenditure|by fund type|||||||
||Cost ofcharitable||activities- 2021|Unrestricted|||Endowment|Total Funds|
|||||funds|Restricted|funds|fund|2021|
||Staffcosts|||138,125||20,000||158,125|
||Curatorial
costs|||18,564||||18,564|
||Participation|costs||2,817||8,285||11,102|
||Advertising|and promotion||9,522||||9,522|
||Other direct|costs||380||||380|
||Support costs (see||note 12)|319,780||7,687|19,250|346,717|
|||||489,188||35,972|19,250|544,410|
||Cost ofcharitable||activities- 2020|Unrestricted|||Endowment|Total Funds|
|||||funds|Restricted|funds|fund|2020|
||Staffcosts|||92,885||69,598|19,250|181,733|
||Curatorial
costs|||51,328||||51,328|
||Participation|costs||29,244||3,292||32,536|
||Advertising|and promotion||11,742||||11,742|
||Other direct|costs||5,145||||5,145|
||Support costs (see||note 12)|386,733||||386,733|
|||||577,077||72,890|19,250|669,217|
||Cost ofraising funds- 2021|||Unrestricted|Restricted||Endowment|Total Funds|
|||||funds||funds|fund|2021|
||Staffcosts|||278,510||63,480||341,990|
||Other direct|costs||110,290||||110/90|
||Support costs (see||note 12)|152,856||||152,856|
|||||541,656||63,480||605,136|
||Cost ofraising funds- 2020|||Unrestricted|Restricted||Endowment|Total Funds|
|||||funds||funds|fund|2020|
||Staff costs|||416,654||||416,654|
||Other direct|costs||368,545||||368,545|
||Support costs (see||note 12)|160,969||||160,969|
|||||946,168||||946,168|
##
##
|Support cos|ts|||||||
|---|---|---|---|---|---|---|---|
||||||Cost of|||
|||||Cost ofraising|charitable|||
|||||funds|activities|Total 2021|Total 2020|
|Administrative
expenditure||||||||
|Staffcosts||||6,877|50,433|57,310|76,266|
|Stafftraining|&expenses|||200|1,468|1,668|2,784|
|Print, postage|and|stationery||213|1,559|1,772|2,577|
|IT expenses||||1,206|8,844|10,050|6,819|
|Bank charges||||23|166|189|107|
|Legal &Professional||||743|5,447|6,190|5,989|
|Telephone||||31|225|256|708|
|Amortisation||||192|1,408|1,600|1,600|
|Other administrative|||expenditure|1,233|9,042|10,275|8,539|
|Total administrative|||expenditure|10,718|78,592|89,310|105,388|
|Premises costs||||||||
|Staffcosts||||12,276|21,824|34,100|32,252|
|Rent &Rates||||78,484|139,528|218,012|216,430|
|Heat, light &|water|||10,483|18,638|29,121|57,989|
|Insurance||||5,916|10,519|16,435|15,573|
|Cleaning||||4,659|8,282|12,941|32,425|
|Health &Safety||||4,836|8,597|13,433|2,508|
|Maintenance|&Repairs|||2,200|3,911|6,111|10,442|
|Security||||243|430|673|1,313|
|Depreciation||||20,263|36,025|56,288|55,845|
|Total premises
costs||||139,360|247,754|387,114|424,777|
|Governance|costs|||||||
|Staffcosts||||1,305|9,574|10,879|7,413|
|Audit fees||||1,398|10,252|11,650|9,795|
|Meeting costs||||75|545|620||
|Trustees'
expenses|||||||329|
|Total governance||costs||2,778|20,371|23,149|17,536|
|Total support|costs|||152,856|346,717|499,573|547,702|
##
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##
|Staff costs|Staff costs||||||
|---|---|---|---|---|---|---|
|The total staff costs and employee||benefits for the reporting|period are analysed|as 1'ollows|||
||||||2021|2020|
|Wages and|salaries||||557,048|659,376|
|Social security costs|||||37,438|45,475|
|Pensions|||||7,920|9,466|
|Consultants|and freelancers||||27,442|6,817|
||||||629,848|721,134|
##
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||||2021|2020|
|---|---|---|---|---|
|Auditors
remuneration-|audit|services|7,700|8,000|
|Auditors
remuneration-|other|services|2,280|3,000|
|Amortisation|||1,600|533|
|Depreciation|||81,819|81,105|
##
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##
|Yea|r ended 31stMarch 2021||
|---|---|---|
|18.|Intangible
assets||
||Charity and Group|Development|
|||costs|
||Cost||
||At I"April 2020 and 31"March 2021|8,000|
||Amortisation||
||At I"April 2020|2,133|
||Charge for the year|1,600|
||At 31"March 2021|3733|
||Carrying
amount
At 31"March 2021|4,267|
||At 31"March 2020|5,867|
|Tangible fixed assets||||
|---|---|---|---|
|Charity|Short leasehold|Fixtures and||
||property|fittings|Total|
|Cost||||
|At l" April 2020|434,732|106,415|541,147|
|At 31"March 2021|434,732|106,415|541,147|
|Depreciation
At 1"April 2020|272,184|72,046|344,230|
|Charge for the year|44,342|11,946|56,288|
|At 31"March 2021|316,526|83,992|400,518|
|Carrying
amount
At 31"March 2021|118,206|22,423|140,629|
|At 31st March 2020|162,548|34,369|196,917|
|Group|Short leasehold|Fixtures and||
||property|fittings|Total|
|Cost||||
|At 1st April 2020|434,732|307,471|742403|
|At 31stMarch 2021|434,732|307,471|742403|
|Depreciation||||
|At 1st April 2020|272,184|202,760|474,944|
|Charge for the year|44,342|37,477|81,819|
|At 31stMarch 2021|316,526|240,237|556,763|
|Carrying
amount||||
|At 31stMarch 2021|118,206|67,234|185,440|
|At 31st March 2020|162,548|104,711|267/59|
##
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##
|Yea|r ended 31stMarch 2021|
|---|---|
|20.|Investments|
||Charity|
||Cost|
||At 1stApril 2020 and 31stMarch 2021|
||Impairment|
||At 1stApril 2020 and 31stMarch 2021|
||Carrying
amount|
||At 31stMarch 2021|
||At 31st March 2020|
|21.|Stock|||||||
|---|---|---|---|---|---|---|---|
|||||2021||2020||
|||||Group|Charity|Group|Charity|
||I3ar and|kitchen stocks||8,468||8,867||
|22.|Debtors|||||||
|||||2021||2020||
|||||Group|Charity|Group|Charity|
||Trade debtors|||7,693|5,829|12,980|4,160|
||Amounts|owed by group undertakings|||149,566||46,628|
||Prepayments||and accrued income|7,973|7,973|9,843|9,843|
||Other debtors|||22,457|9,565|13,435|10,409|
|||||38,123|172,933|36,258|71,040|
##
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##
|Creditors: amounts|falling due within on|e year||||
|---|---|---|---|---|---|
|||2021||2020||
|||Group|Charity|Group|Charity|
|Loan||33,216||25,862||
|Trade creditors||20,120|13,695|22,384|14,253|
|Accruals
and deferred|income|71,317|19,457|74,027|31,076|
|Social security and other taxes||41,648|5,091|36,566|3,442|
|Other creditors||3,340|1,072|9,009|2,862|
|||169,641|39,315|167,848|51,633|
##
||2021||2020||
|---|---|---|---|---|
||Group|Charity|Group|Charity|
|Loans|98,545||67,756||
##
##
|||At 1st April|Incoming|Resources|Transfers|Transfers|At 31stMarch|
|---|---|---|---|---|---|---|---|
|Group||2020|Resources|Expended|between|funds|2021|
|Restricted|funds|3,284|389,259|(99,452)|||293,091|
|Endowment|funds|70,583||(19,250)|||51,333|
|Unrestricted|funds|193,910|1,183,048|(1,030,844)|||346,114|
|Total funds||267,777|1,572,307|(1,149,546)|||690,538|
##
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##
|||At 1st April|Incoming|Resources|Transfers|Transfers|At 31stMarch|
|---|---|---|---|---|---|---|---|
|||2020|Resources|Expended|between|funds|2021|
|Esmee Fairbaim|||20,000|(20,000)||||
|LCC Arts Funding|||43,480|(43,480)||||
|Garfield Weston|||184,000|(22,350)|||161,650|
|Catalyst
PANIC!
Jerwood
Women's
Health|Matters|858|5,000
125,000
11,779|(5,000)
(5,338)
(858)|||119,662
11,779|
|Other restricted|funds|2,426||(2,426)||||
|||3,284|389,259|(99,452)|||293,091|
|||At 1stApril|Incoming|Resources|Transfers||At 31st March|
|||2019|Resources|Expended|between|funds|2020|
|Esmee Fairbaim|||40,000|(40,000)||||
|LCC Arts Funding
Women's
Health Matters||974|28,600
484|(28,600)
(600)|||858|
|Other restricted
Leeds Inspired|funds|500|1,926
3,690|(3,690)|||2,426|
|||1,474|74,700|(72,890)|||3,284|
|Endowment
funds- Group and Charity||||||||
|||At I'~ April|Incoming|Resources|Transfers||At 31"March|
|||2020|Resources|Expended|between|funds|2021|
|The Tetley capital funding||70,583||(19,250)|||51,333|
|||At I"April|Incoming|Resources|Transfers||At 31"March|
|||2019|Resources|Expended|between|funds|2020|
|The Tetley capital funding||89,833||( 19,250)|||70,583|
##
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##
|Unrestrict|ed|f|unds- Charity|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||At I"April|Incoming|Resowces|Transfers||At 31"March|
|||||2020|Resources|Expended|between|funds|2021|
|Project Space Leeds||||181,158|943,811|(620,960)||15,000|519,009|
|Assets purchased|||with capital|||||||
|grants||||77,000||(21,000)|||56,000|
|Designated|fund|||15,000|||(15,000)|||
|||||273,158|943,811|(641,960)|||575,009|
|||||At I"April|Incoming|Resources|Trans fers||At 31"March|
|||||2019|Resources|Expended|between|funds|2020|
|Project Space Leeds||||179,036|723,211|(751,089)||30,000|181,158|
|Assets purchased|||with capital|||||||
|grants||||98,000||(21,000)|||77,000|
|Designated|fund|||45,000|||(30,000)||15,000|
|||||322,036|723,211|(772,089)|||273,158|
|Unrestricte|d|funds - Group||||||||
|||||At I" April|Incoming|Resowces|Transfers||At 31"March|
|||||2020|Resources|Expended|between|funds|2021|
|Unrestricted||reserves||101,910|1,183,048|(1,030,844)||15,000|269,114|
|Assets purchased|||with capital|||||||
|grants||||77,000|||||77,000|
|Designated|fund|||15,000|||(15,000)|||
|||||193,910|1,183,048|(1,030,844)|||346,114|
|||||At lu April|Incoming|Resources|Transfers||At 31"March|
|||||2019|Resources|Expended|between|funds|2020|
|Unrestricted||reserves||144,200|1,429,955|(1,502,245)||30,000|101,910|
|Assets purchased|||with capital|||||||
|grants||||98,000||(21,000)|||77,000|
|Designated|fund|||45,000|||(30,000)||15,000|
|||||287,200|1,429,955|(1,523,245)|||193,310|
##
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##
##
##
|||||Unrestricted|Restricted|Endowment|Total Funds|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|2021|
|Fixed assets||||138,374||51,333|189,707|
|Current
assets||||475,926|293,091||769,017|
|Creditors|less than|1 year||(169,641)|||(169,641)|
|Long term|liabilities|||(98,545)|||(98,545)|
|Net assets||||346,114|293,091|51,333|690,538|
|||||Unrestricted|Restricted|Endowment|Total Funds|
|||||Funds|Funds|Funds|2020|
|Fixed assets||||202,542||70,583|273,125|
|Current assets||||226,972|3,284||230456|
|Creditors|less than|1 year||(167,848)|||(167,848)|
|Long term|liabilities|||(67,756)|||(67,756)|
|Net assets||||193,910|3,284|70,583|267,777|
|Analysis ofnet assets between|||funds (Charity)|||||
|||||Unrestricted|Restricted|Endowment|Total Funds|
|||||Funds|Funds|Funds|2021|
|Fixed assets||||93,564||51,333|144,897|
|Current
assets||||520,760|293,091||813,851|
|Creditors|less than|1 year||(39,315)|||(39,315)|
|Net assets||||575,009|293,091|51,333|919,433|
|||||Unrestricted|Restricted|Endowment|Total Funds|
|||||Funds|Funds|Funds|2020|
|Fixed assets||||132,202||70,583|202,785|
|Current
assets||||192,589|3,284||195,873|
|Creditors|less than|1 year||(51,633)|||(51,633)|
|Net assets||||273,158|3,284|70,583|347,025|
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