**Company number 07732887**
## **Charity number 1149079**
(A company limited by guarantee)
## Annual Report
## &
## Financial Statements
## For the year end 30th March 2022
Doc ID: 1e28c2902c99275fc812b4d861ded6418a5eaba7
**Index**
|Company Information|1|
|---|---|
|Directors Report|2-5|
|Independent examiners report|6|
|Statement of Financial Activities|7|
|Balance sheet|8|
|Notes to the accounts|9 - 18|
Doc ID: 1e28c2902c99275fc812b4d861ded6418a5eaba7
## **Portraits of Recovery**
## **Company Information**
## **For the year end 30th March 2022**
The directors present their report and unaudited financial statements for the year ended 30th March 2022.
## **Reference and Administrative Information**
Charity name Portraits of Recovery Charity Registration Number 1149079 Company Registration Number 07732887 Registered Office 88 Victoria Street Chadderton Oldham Greater Manchester OL9 0HJ
Principle place of Business Beehive Lofts, Beehive Mill Jersey Street Ancoats Manchester M4 6JG
## **Directors**
William Griffiths – Chair Stephen Whittle Zoe Welch
## **Company secretary**
Mark Prest – Company Secretary
## **Bankers**
The Co-Operative Bank
## **Independent examiner**
Paul Cowham FCA DChA Green Fish Resource Centre 46-50 Oldham Street Manchester M4 1LE
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## **Portraits of Recovery**
## **Directors Report**
## **For the year end 30th March 2022**
The directors, who are trustees of the charity, present their annual report and financial statements for year ended 30th March 2022.
## **Status and Administration**
The company is a registered charity and a company limited by guarantee and governed by its Memorandum and Articles of Association.
## **Charitable Objectives and Principal Activities**
The company is established to promote the health and wellbeing of the public, in particular those who are affected by addiction and in recovery from drugs and alcohol, through the use of visual arts.
## **Directors Appointment and Retirement**
All Directors who served in the last financial year remain in their posts. The company will continue to actively recruit additional Directors/Trustees and as part of an organisational development initiative over the next financial year. Recruitment of new members is in line with the company’s Racial Equality and Disability policies.
## **Training of new Directors**
New Directors, particularly those who have not previously been directors in the arts sector, will be encouraged to attend relevant training courses if available in the North West. If it is felt by the Board that any member(s) need other additional training this will be actioned and facilitated where possible.
Directors and Trustees both new and current are encouraged to attend the organisation’s public exhibitions, events & engage with planned organisational development initiatives.
## **Public Benefit**
The directors have had regard to the Charity Commission’s guidance on public benefit and can confirm that they have complied with the guidance.
The directors are satisfied that the activities of the charity, as explained in the overview of the year below, benefit the public. The section of the public that benefits from the activities of the charity are those affected by/or in recovery from substance use-disorders with poverty and not precluding people from benefitting.
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## **Portraits of Recovery**
## **Directors Report For the year end 30th March 2022**
## **Overview of the Year**
Emerging out of the pandemic 2021/22 saw a consistent refocus on PORe’s Arts Council England Elevate project **K.I.S.S.** The project and funding programme aims to strengthen the resilience of diverse arts organisations, museums, and libraries not in receipt of National Portfolio funding. **K.I.S.S (Keep It Simple Stupid** ) PORe’s 2 year Elevate project will strengthen the resilience of PORe by development of a new 5- year strategic business plan, recruitment of arts consultancy and securing paid staff (director Mark Prest) including two new staff members. **K.I.S.S.** will increase the organisations capacity, diversify fundraising, supports business development and board development, and puts in place new digital resources. It also builds upon PORe’s strategic partnerships. Critically the work contributes to PORe’s 1[st] time application to ACE’s National Portfolio Funding Programme for May 2022
PORe is now in a stronger position to manage projects more successfully than at any prior point in the organisation’s life. The first phase of Elevate has enabled PORe to benefit from increased resources. This includes a Business Development Administrator (BDA) who has worked to establish key business management tools and systems and a Digital Marketing Coordinator post, who’s role is to streamline PORe’s activities online and build audiences. Whilst some Elevate stage outputs have been delayed due to (Covid pandemic) we are confident this will not be repeated.
PORe’s emerging business plan and developing artistic policy define a clear way forward that provides a route map for the organisation, its staff, and trustees. This also supports the organisation to establish systems and transpose best practice from other areas.
PORe made a successful application to Arts Council England, Elevate Extension fund. This is to progress and complete originally funded Elevate (K.I.S.S.) activity due to diversion of funds and/or adjusted activity linked to the Covid-19 crisis. K.I.S.S originally intended to complete in December 2021 will now complete end March 2023 with additional funding.
**Sounds at the Edges** - connecting 10 people in recovery from substance use with cultural venues, creative professionals, and artists from Greater Manchester completed. The project supported social re-integration, increased employability and increased wellbeing through high quality hands-on learning and engagement with contemporary art. An end of project event was held at HOME, Manchester. Premiering a film commissioned from artist Green, the event was attended by Greater Manchester Mayor Andy Burnham and who addressed the events audience in support of PORe’s work.
Additional funding was secured from the 4th and final round of the ESF Community Grants Fund. The Repair Centre, a new partnership with the Manchester Craft and Design Centre (MCDC) will further supported PORe’s work preparedness employability work through exploring the Japanese art of Kintsugi (ceramic repair). The project will complete in May 2022.
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## **Portraits of Recovery**
## **Directors Report For the year end 30th March 2022**
## **Financial review**
_Reserves –_ at the close of 2021-22 financial year, the directors recognise that the financial position of the charity was weak with an unrestricted reserves surplus of £93. An improvement on the last with this year seeing the company break above just even. As outlined the impact of COVID-19 adversely affected delivery of PORe’s projects and fundraising activities. However, the funding secured during the previous financial year enabled projects to move forwards with ring-fenced reserves of £33,490 carried forwards.
Ideally the directors would like to see annual reserves of around 4months trading costs, which is unlikely until PORe secures annual revenue funding. This is currently being researched through PORe’s K.I.S.S. project. This financial risk is currently minimised as PORe has no direct employees but recruits on a freelance basis as and when needed. The main overhead is office rent.
## _Sources of Income_
The search for a source of revenue funding is a priority over the next two financial years. This aims to enable growth & sustainability for the company. As stipulated the company successfully secured 100k funding through their application to Arts Council England's Elevate fund and an additional 49k through Elevate Extension. This over two years provides organisational development funding and short-term financial security.
## **Plans for future periods.**
As of May 2022, PORe made an application for National Portfolio status to Arts Council England. If successful and for the very first time, this will provide the organisation with long term financial security through 3 years revenue funding.
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## **Portraits of Recovery**
## **Directors Report For the year end 30th March 2022**
## **Directors Responsibilities**
Company Law requires all directors to prepare financial statements for each financial year which gives a true and fair view of state of the company and the surplus and deficit of the company for that period. In preparing those statements the directors have: -
Selected suitable accounting policies and applied them consistently.
Made judgements and estimates that are reasonable and prudent.
Stating whether accounting standards are followed, subject to any material departures disclosed and explained in the financial statements.
Prepared financial statements of an ongoing basis
## **Funds**
Funds held by the company are detailed in the notes to the accounts.
## **Small Company Provisions**
This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
## **On Behalf of the Board**
William F Griffiths (Chair)
Signed: …………………................................
## 06 / 08 / 2022
Dated: …………………................................
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**Independent Examiner’s Report to the Trustees of**
## **Portraits of Recovery**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 March 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and 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**
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Paul Cowham FCA DChA Green Fish Resource Centre 46 – 50 Oldham Street Manchester M4 1LE
06 / 08 / 2022
_Dated: ………………………............................................_
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## Portraits of Recovery
## Statement of Financial Activities (including Income and Expenditure account) for the year ended 30 March 2022
|Unrestricted
funds
Note
£
**Income**
Donations and legacies
3
10
Charitable activities
4
-
5
-
Investments
6
-
**Total income**
**10**
**Expenditure**
Raising funds
-
-
Charitable activities
8
(215)
**Total expenditure**
**(215)**
10
**225**
Transfer between funds
237
**Net movement in funds for the year**
**462**
**Reconciliation of funds**
Total funds brought forward
(369)
**Total funds carried forward**
**93**
Fees and other income
**Net income/(expenditure) for the**
**year**|Restricted
funds
£
-
76,800
-
-
**76,800**
-
70,219
**70,219**
**6,581**
(237)
**6,344**
27,146
**33,490**|Total funds
2022
£
10
76,800
-
-
**76,810**
-
70,004
**70,004**
**6,806**
-
**6,806**
26,777
**33,583**|_Total funds_
_2021_
_£_
_-_
_-_
_-_
_-_|
|---|---|---|---|
||||**_-_**|
||||_-_
_33,465_|
||||**_33,465_**|
||||**_(33,465)_**
_-_|
||||**_(33,465)_**
_60,242_|
||||**_26,777_**|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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## Portraits of Recovery Company number 7732887
## Balance sheet as at 30 March 2022
|Note
£
£
**Fixed assets**
Tangible assets
-
-
**Total fixed assets**
**-**
**Current assets**
Stock
Debtors
15
-
Cash at bank and in hand
34,683
**Total current assets**
**34,683**
**Liabilities**
Creditors: amounts falling
due in less than one year
16
(1,100)
**Net current assets**
**33,583**
**Total assets less current liabilities**
33,583
**Net assets**
**33,583**
**Funds of the charity**
Restricted income funds
17
33,490
Unrestricted income funds
18
93
**Total charity funds**
**33,583**
2022|_£_
_£_
_-_
**_-_**
_-_
_27,877_
**_27,877_**
_(1,100)_
**_26,777_**
_26,777_
**_26,777_**
_27,146_
_(369)_
**_26,777_**
_2021_|_£_
_£_
_-_
**_-_**
_-_
_27,877_
**_27,877_**
_(1,100)_
**_26,777_**
_26,777_
**_26,777_**
_27,146_
_(369)_
**_26,777_**
_2021_|
|---|---|---|
|||**_-_**
**_26,777_**|
|||_26,777_|
|||**_26,777_**|
|||_27,146_
_(369)_|
|||**_26,777_**|
For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company 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 are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes on pages 9 to 18 form part of these accounts.
06 / 08 / 2022
Approved by the Management Committee on …………………. and signed on their behalf by:
William Griffiths Name Signed
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Portraits of Recovery
Notes to the accounts for the year ended 30 March 2022
## **1 Accounting policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a 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.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 section 1A.
Portraits of Recovery meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b Reconciliation with previous Generally Accepted Accounting Practice**
In preparing the accounts, the Management Committee have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No such restatement was required.
## **c Preparation of the accounts on a going concern basis**
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. They do recognise that the charity had negative unrestricted funds as at 30 March 2019, however there are plans to increase income streams and the reserves of the charity. The project director is able to work for free and agree with creditors that payment terms can be flexible so trustees consider that the charity is solvent.
There are no key judgments which the trustees have made which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
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Portraits of Recovery
Notes to the accounts for the year ended 30 March 2022 (continued)
## **d Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## **e Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **f Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
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Portraits of Recovery
Notes to the accounts for the year ended 30 March 2022 (continued)
## **g Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **h Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **i Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **j Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **k Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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Portraits of Recovery
## Notes to the accounts for the year ended 30 March 2022 (continued)
## **N Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2 Legal status of the charity**
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.
## **3 Income from donations and legacies**
|Donations
**Total**|Unrestricted
Restricted
Total 2022
Unrestricted
Restricted
_Total 2021_
£
£
£
£
£
_£_
10
-
10
-
-
_-_|
|---|---|
||10
-
10
_-_
_-_
_-_|
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## Portraits of Recovery
## Notes to the accounts for the year ended 30 March 2022 (continued)
- **4 Income from charitable activities**
||Unrestricted|Restricted|Total 2022|_Unrestricted_|_Restricted_|_Total 2021_|
|---|---|---|---|---|---|---|
||£|£|£|_£_|_£_|_£_|
|Grants|||||||
|Achieve - Salford|||||||
|Community|-|15,000|15,000|_-_|_-_|_-_|
|Arts Council England|||||||
|Elevate (K.I.S.S)|-|41,800|41,800|_-_|_-_|_-_|
|Sounds at the|||||||
|Edges - WEA|-|15,000|15,000|_-_|_-_|_-_|
|The Repair Centre -|||||||
|WEA|-|5,000|5,000|_-_|_-_|_-_|
|**Total**|-|76,800|76,800|_-_|_-_|_-_|
|**Fees and other income**|||||||
||Unrestricted|Restricted|2022|_Unrestricted_|_Restricted_|_2021_|
||£|£|£|_£_|_£_|_£_|
|Consultancy|-|-|-|_-_|_-_|_-_|
|Speakers fees|-|-|-|_-_|_-_|_-_|
||-|-|-|_-_|_-_|-|
|All income from fees and trading is unrestricted.|||||||
|**Investment income**|||||||
||Unrestricted|Restricted|2022|_Unrestricted_|_Restricted_|_2021_|
||£|£|£|_£_|_£_|_£_|
|Income from bank|||||||
|deposits|-|-|-|_-_|_-_|_-_|
||-|-|-|_-_|_-_|_-_|
## **5 Fees and other income**
## **6 Investment income**
All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.
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Portraits of Recovery
Notes to the accounts for the year ended 30 March 2022 (continued)
## **Analysis of expenditure on raising funds**
|||Total 2022|_Total 2021_|
|---|---|---|---|
|||£|£|
|**7**|Fundraising costs|-|_-_|
## **8 Analysis of expenditure on charitable activities**
|Artists fees and freelance staffing
Travel and subsistence
Artists' materials/equipment
Office rent
Training
Marketing & publications
Insurance IT & office costs
Equipment & studio hire
Governance costs
Restricted expenditure
Unrestricted expenditure
Accountancy and independent
examination|Total 2022
_Total 2021_
£
£
58,221
_29,091_
750
_27_
76
_12_
8,390
_3,232_
105
_-_
225
_-_
637
_603_
1,000
_-_
600
_500_|
|---|---|
||70,004
33,465|
||2022
_2021_
£
_£_
70,219
33,331
(215)
134|
||70,004
33,465|
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Portraits of Recovery
## Notes to the accounts for the year ended 30 March 2022 (continued)
## **10 Net income/(expenditure) for the year**
|This is stated after charging/(crediting):|2022|_2021_|
|---|---|---|
||£|_£_|
|Depreciation|-||
|Independent examiner's remuneration|||
|- accountancy|300|250|
|- independent examination|300|250|
## **11 Staff costs**
The charity does not currently employ any members of staff.
The key management personnel of the charity comprise the trustees and the project manager. The total employee benefits of the key management personnel of the charity were £24,800 (2021: £21,750).
## **12 Trustee remuneration and expenses, and related party transactions**
No trustees received any remuneration or reimbursed expenditure in the year (2021 £nil).
Aggregate donations from related parties were £nil (2021: £nil).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year other than those disclosed above (2021: nil).
## **13 Government grants**
The charity did not receive any grants from the government during the year or the prior year.
## **14 Corporation tax**
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
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Notes to the accounts for the year ended 30 March 2022 (continued)
## **15 Debtors**
|**Debtors**||
|---|---|
|Trade debtors
Prepayments and other debtors|2022
_2021_
£
_£_
-
_-_
-
_-_|
||-
_-_|
## **16 Creditors: amounts falling due within one year**
|Trade creditors
Other creditors and accruals|2022
_2021_
£
_£_
-
_-_
1,100
_1,100_|
|---|---|
||1,100
_1,100_|
## **17 Analysis of movements in restricted funds**
|WEA - The Repair Centre
WEA - Sounds at the Edges
Arts Council England - Elevate
Achieve - the Repair Works|Balance at
31 March
2021
Income
Expenditure
Transfers
Balance at
30 March
2022
£
£
£
£
£
-
5,000
(3,273)
-
1,727
868
15,000
(15,631)
(237)
-
26,278
41,800
(51,315)
-
16,763
-
15,000
-
-
15,000|
|---|---|
||27,146
76,800
(70,219)
(237)
33,490|
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## Portraits of Recovery
## Notes to the accounts for the year ended 30 March 2022 (continued)
## **17 Analysis of movements in restricted funds (continued)**
|WEA - Sounds at the Edges
Arts Council England - Elevate
**Previous**
**reporting**
**period**|Balance at
31 March
2020
Income
Expenditure
Transfers
Balance at
30 March
2021
£
£
£
£
£
2,365
-
(1,212)
(285)
868
58,397
-
(32,119)
-
26,278|
|---|---|
||60,762
-
(33,331)
(285)
27,146|
## **18 Analysis of movement in unrestricted funds**
|General fund|Balance at
31 March
2021
Income
Expenditure
Transfers
As at 30
March 2022
£
£
£
£
£
(369)
10
215
237
93|
|---|---|
||(369)
10
215
237
93|
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## Portraits of Recovery
## Notes to the accounts for the year ended 30 March 2022 (continued)
## **19 Analysis of movement in unrestricted funds (continued)**
|**Previous**
**reporting**
**period**
General fund|Balance at
31 March
2021
Income
Expenditure
Transfers
As at 30
March 2021
£
£
£
£
£
(520)
-
(134)
285
(369)|
|---|---|
||(520)
-
(134)
285
(369)|
## **20 Analysis of net assets between funds**
|Tangible fixed assets
Net current assets/(liabilities)
Total|General
Designated
Restricted
fund
funds
funds
Total
£
£
£
£
-
-
-
-
93
-
33,490
33,583|
|---|---|
||93
-
33,490
33,583|
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Audit Trail
Title PORe's accounts for signing File Name P01 accounts draft 5 2022.pdf Document ID 1e28c2902c99275fc812b4d861ded6418a5eaba7 Audit Trail Date Format MM / DD / YYYY Status Signed
**06 / 08 / 2022** Sent for signature to William Griffiths 11:58:45 UTC (billgriffiths0@gmail.com) and Paul Cowham (contact@pcowhamaccounts.com) from paul.cowham@gmail.com IP: 92.7.71.93 **06 / 08 / 2022** Viewed by William Griffiths (billgriffiths0@gmail.com) 12:31:54 UTC IP: 82.132.216.30 **06 / 08 / 2022** Signed by William Griffiths (billgriffiths0@gmail.com) 12:56:11 UTC IP: 82.132.216.30 **06 / 08 / 2022** Viewed by Paul Cowham (contact@pcowhamaccounts.com) 12:56:57 UTC IP: 92.7.71.93 **06 / 08 / 2022** Signed by Paul Cowham (contact@pcowhamaccounts.com) 12:57:09 UTC IP: 92.7.71.93 **06 / 08 / 2022** The document has been completed. 12:57:09 UTC
**Company number 07732887**
# **Charity number 1149079**
## (A company limited by guarantee)
## Annual Report
## &
## Financial Statements
## For the year end 30th March 2022
**Index**
|Company Information|1|
|---|---|
|Directors Report|2-5|
|Independent examiners report|6|
|Statement of Financial Activities|7|
|Balance sheet|9|
|Notes to the accounts|9 - 19|
## **Portraits of Recovery**
## **Company Information For the year end 30th March 2022**
The directors present their report and unaudited financial statements for the year ended 30th March 2022.
## **Reference and Administrative Information**
Charity name Portraits of Recovery Charity Registration Number 1149079 Company Registration Number 07732887 Registered Office 88 Victoria Street Chadderton Oldham Greater Manchester OL9 0HJ Principle place of Business Beehive Lofts, Beehive Mill Jersey Street Ancoats Manchester M4 6JG
## **Directors**
William Griffiths – Chair Stephen Whittle Zoe Welch
## **Company secretary**
Mark Prest – Company Secretary
## **Bankers**
The Co-Operative Bank
## **Independent examiner**
Paul Cowham FCA DChA Green Fish Resource Centre 46-50 Oldham Street Manchester M4 1LE
1
## **Portraits of Recovery**
## **Directors Report For the year end 30th March 2022**
The directors, who are trustees of the charity, present their annual report and financial statements for year ended 30th March 2022.
## **Status and Administration**
The company is a registered charity and a company limited by guarantee and governed by its Memorandum and Articles of Association.
## **Charitable Objectives and Principal Activities**
The company is established to promote the health and wellbeing of the public, in particular those who are affected by addiction and in recovery from drugs and alcohol, through the use of visual arts.
## **Directors Appointment and Retirement**
All Directors who served in the last financial year remain in their posts. The company will continue to actively recruit additional Directors/Trustees and as part of an organisational development initiative over the next financial year. Recruitment of new members is in line with the company’s Racial Equality and Disability policies.
## **Training of new Directors**
New Directors, particularly those who have not previously been directors in the arts sector, will be encouraged to attend relevant training courses if available in the North West. If it is felt by the Board that any member(s) need other additional training this will be actioned and facilitated where possible.
Directors and Trustees both new and current are encouraged to attend the organisation’s public exhibitions, events & engage with planned organisational development initiatives.
## **Public Benefit**
The directors have had regard to the Charity Commission’s guidance on public benefit and can confirm that they have complied with the guidance.
The directors are satisfied that the activities of the charity, as explained in the overview of the year below, benefit the public. The section of the public that benefits from the activities of the charity are those affected by/or in recovery from substance use-disorders with poverty and not precluding people from benefitting.
2
## **Portraits of Recovery**
## **Directors Report For the year end 30th March 2022**
## **Overview of the Year**
Emerging out of the pandemic 2021/22 saw a consistent refocus on PORe’s Arts Council England Elevate project **K.I.S.S.** The project and funding programme aims to strengthen the resilience of diverse arts organisations, museums, and libraries not in receipt of National Portfolio funding. **K.I.S.S (Keep It Simple Stupid** ) PORe’s 2 year Elevate project will strengthen the resilience of PORe by development of a new 5- year strategic business plan, recruitment of arts consultancy and securing paid staff (director Mark Prest) including two new staff members. **K.I.S.S.** will increase the organisations capacity, diversify fundraising, supports business development and board development, and puts in place new digital resources. It also builds upon PORe’s strategic partnerships. Critically the work contributes to PORe’s 1[st] time application to ACE’s National Portfolio Funding Programme for May 2022
PORe is now in a stronger position to manage projects more successfully than at any prior point in the organisation’s life. The first phase of Elevate has enabled PORe to benefit from increased resources. This includes a Business Development Administrator (BDA) who has worked to establish key business management tools and systems and a Digital Marketing Coordinator post, who’s role is to streamline PORe’s activities online and build audiences. Whilst some Elevate stage outputs have been delayed due to (Covid pandemic) we are confident this will not be repeated.
PORe’s emerging business plan and developing artistic policy define a clear way forward that provides a route map for the organisation, its staff, and trustees. This also supports the organisation to establish systems and transpose best practice from other areas.
PORe made a successful application to Arts Council England, Elevate Extension fund. This is to progress and complete originally funded Elevate (K.I.S.S.) activity due to diversion of funds and/or adjusted activity linked to the Covid-19 crisis. K.I.S.S originally intended to complete in December 2021 will now complete end March 2023 with additional funding.
**Sounds at the Edges** - connecting 10 people in recovery from substance use with cultural venues, creative professionals, and artists from Greater Manchester completed. The project supported social re-integration, increased employability and increased wellbeing through high quality hands-on learning and engagement with contemporary art. An end of project event was held at HOME, Manchester. Premiering a film commissioned from artist Green, the event was attended by Greater Manchester Mayor Andy Burnham and who addressed the events audience in support of PORe’s work.
Additional funding was secured from the 4th and final round of the ESF Community Grants Fund. The Repair Centre, a new partnership with the Manchester Craft and Design Centre (MCDC) will further supported PORe’s work preparedness employability work through exploring the Japanese art of Kintsugi (ceramic repair). The project will complete in May 2022.
3
## **Portraits of Recovery**
## **Directors Report For the year end 30th March 2022**
## **Financial review**
_Reserves –_ at the close of 2021-22 financial year, the directors recognise that the financial position of the charity was weak with an unrestricted reserves surplus of £93. An improvement on the last with this year seeing the company break above just even. As outlined the impact of COVID-19 adversely affected delivery of PORe’s projects and fundraising activities. However, the funding secured during the previous financial year enabled projects to move forwards with ring-fenced reserves of £33,490 carried forwards.
Ideally the directors would like to see annual reserves of around 4months trading costs, which is unlikely until PORe secures annual revenue funding. This is currently being researched through PORe’s K.I.S.S. project. This financial risk is currently minimised as PORe has no direct employees but recruits on a freelance basis as and when needed. The main overhead is office rent.
## _Sources of Income_
The search for a source of revenue funding is a priority over the next two financial years. This aims to enable growth & sustainability for the company. As stipulated the company successfully secured 100k funding through their application to Arts Council England's Elevate fund and an additional 49k through Elevate Extension. This over two years provides organisational development funding and short-term financial security.
## **Plans for future periods.**
As of May 2022, PORe made an application for National Portfolio status to Arts Council England. If successful and for the very first time, this will provide the organisation with long term financial security through 3 years revenue funding.
4
## **Portraits of Recovery**
## **Directors Report For the year end 30th March 2022**
## **Directors Responsibilities**
Company Law requires all directors to prepare financial statements for each financial year which gives a true and fair view of state of the company and the surplus and deficit of the company for that period. In preparing those statements the directors have: -
Selected suitable accounting policies and applied them consistently.
Made judgements and estimates that are reasonable and prudent.
Stating whether accounting standards are followed, subject to any material departures disclosed and explained in the financial statements.
Prepared financial statements of an ongoing basis
## **Funds**
Funds held by the company are detailed in the notes to the accounts.
## **Small Company Provisions**
This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
## **On Behalf of the Board**
William F Griffiths (Chair)
Signed: …………………................................
Dated: …………………................................
5
## **Independent Examiner’s Report to the Trustees of**
## **Portraits of Recovery**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 March 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and 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**
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Paul Cowham FCA DChA Green Fish Resource Centre
46 – 50 Oldham Street
Manchester
M4 1LE
_Dated: ………………………............................................_
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