Company number 07732887
Charity number 1149079
(A company limited by guarantee)
Annual Report
&
Financial Statements
For the year end 30th March 2023
Doc ID: 478bd50aa09c601e77c93a627d17ca43c638af5d
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: 478bd50aa09c601e77c93a627d17ca43c638af5d
Portraits of Recovery
Company Information
For the year end 30th March 2023
The directors present their report and unaudited financial statements for the year ended 30th March 2023.
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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Doc ID: 478bd50aa09c601e77c93a627d17ca43c638af5d
Portraits of Recovery
Directors Report
For the year end 30th March 2023
The directors, who are trustees of the charity, present their annual report and financial statements for year ended 30th March 2023.
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, 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. A new Trustee was appointed to the board during the year. 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 Equality, Diversity and Disability policies.
Training of new Directors
New Directors/Trustees, particularly those who have not previously been directors in the arts sector, will be encouraged to attend relevant training courses if available in the Northwest. If it is felt by the Board that any member(s) need other additional training this will be actioned and facilitated where possible. New recruits during 2022 have taken part in two training courses through the NCVO:
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Understanding the numbers: financial intelligence for trustees training
-
Understanding the numbers: financial intelligence for trustees training
Additional training for new and current Directors/Trustees will be organised during the 23/24 financial year.
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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Doc ID: 478bd50aa09c601e77c93a627d17ca43c638af5d
Portraits of Recovery
Directors Report For the year end 30th March 2023
Overview of the Year
Over the 2022/23 financial year has seen PORe complete the final year of the Arts Council England Elevate project K.I.S.S. The project and funding programme aiming 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). The two-year project was initially extended due to the COVID-19 Pandemic and has now been completed.
ELEVATE has strengthened the resilience of PORe and allowed the organisation to benefit from increased resources. This included a Business Development Administrator (BDA) and Digital Marketing Co-Ordinator (DMC). The BDA has worked to establish key business management tools and prepare the organisation to be ready for NPO and becoming an employer. This has included a significant review of the organisation’s policies to make sure that they are legally and ethically compliant for going forward to the next stage of the organisation The DCM has worked on streamlining PORe’s online activities and building a cohesive digital offering to build on audiences and partnerships which will make the organisations a sustainable proposition.
After working on improving the website for the ELEVATE period it has now been decided that to take the organisation forward in a creative and intuitive manner, and to help build our audiences further, that during the 23/24 financial year it will be necessary to commission a brand-new website for longevity and future proofing.
Critically ELEVATE has also allowed PORe to work with an Arts Consultant to build a sustainable plan for the future and to prepare a successful application for an NPO funding bid. This now means that as an Arts Council England NPO that PORe can secure 4 permanent members of staff, with Mark Prest being officially appointed as Director/CEO on 1[st] April 2023. Additional staff will be appointed in the first quarter of the financial year.
PORe’s work with the Arts Consultancy has also helped the organisation diversify its fundraising opportunities, develop a three-year public programme and a three-year business plan.
In 2021 PORe was successful in securing funding 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) supported PORe’s work preparedness employability work through exploring the Japanese art of Kintsugi (ceramic repair). The project completed in May 2022. The Repair Centre connecting 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. The project concluded with a pop-up exhibition display where audiences could see some of the work created by participants of The Repair Centre! Over 2 days, we welcomed 46 active audiences and 78 ambient audiences to the event.
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Doc ID: 478bd50aa09c601e77c93a627d17ca43c638af5d
Portraits of Recovery
Directors Report
For the year end 30th March 2023
In 2022 PORe was also successful in gaining first time funding from Achieve CVS to fund another iteration of the project The Repair Works. The organisation has also been selected to join the Greater Manchester Combined Authority Culture Portfolio (GMCP) for 2023-26. This funding has been awarded to 40 organisations from across Greater Manchester to foster arts, culture and creativity and will be awarded for the next 3 years. PORe’s ELEVATE project has also led to the organisation being successful, on its first bid, to gaining ACE’s National Portfolio Funding Programme for 2023-2026. This financial support will help deliver our new, year-round programme of creative and cultural experiences that engage and celebrate people and communities in recovery from across Greater Manchester.
PORe finishes its ELEVATE project period with a robust 5 year business plan and an ability to continue to build its strategic partnerships with other Greater Manchester arts and health organisations and take the organisation forward with a new series of programming starting in 2023, including an annual Recoverists' learning and engagement programme, The Recoverist Culture Club and a public programme of events, talks and workshops around Greater Manchester each September to mark and celebrate International Recovery Month.
A partnership with Whitworth Gallery in Manchester will provide career development opportunities for people in recovery and for a curator from a diverse background to explore the gallery’s permanent collections.
PORe’s 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.
Financial review
Reserves – at the close of 2022-23 financial year, the directors recognise that the financial position of the charity has improved with a total reserve of £3128 - an unrestricted reserves surplus of £753 and a designated surplus of £2375 which is to be spent against the new website. This is much improved on the previous year. Financial risk has been previously minimised as PORe had no direct employees but recruited on a freelance. Having now secured long term revenue funding through Arts Council NPO (£450,000 across 3 years) and the Greater Manchester Culture Portfolio (90,000 across 3 years), and additional potential funding streams having been identified PORe will increase its financial stability with the business plan projecting a much greater build of reserves over the next three years.
Plans for future periods.
On April 2023 PORe is a National Portfolio Organisation and part of the GM Culture Fund portfolio for the period 2023-2026 providing the organisation with long term financial sustainability through 3 years revenue funding.
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Doc ID: 478bd50aa09c601e77c93a627d17ca43c638af5d
Portraits of Recovery
Directors Report For the year end 30th March 2023
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 / 07 / 2023
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 2023.
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 / 07 / 2023
Dated: ………………………............
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Portraits of Recovery
Statement of Financial Activities (including Income and Expenditure account) for the year ended 30 March 2023
| Unrestricted funds Note £ Income Donations and legacies 3 228 Charitable activities 4 - 5 - Investments 6 - Total income 228 Expenditure Raising funds - - Charitable activities 8 (1,469) Total expenditure (1,469) 10 1,697 Transfer between funds - Net movement in funds for the year 1,697 Reconciliation of funds Total funds brought forward 93 Total funds carried forward 1,790 Fees and other income Net income/(expenditure) for the year |
Restricted funds £ - 54,652 - - 54,652 - 86,804 86,804 (32,152) - (32,152) 33,490 1,338 |
Total funds 2023 £ 228 54,652 - - 54,880 - 85,335 85,335 (30,455) - (30,455) 33,583 3,128 |
Total funds 2022 £ 10 76,800 - - |
|---|---|---|---|
| 76,810 | |||
| - 70,004 |
|||
| 70,004 | |||
| 6,806 - |
|||
| 6,806 26,777 |
|||
| 33,583 |
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 2023
| Note £ £ Fixed assets Tangible assets - - Total fixed assets - Current assets Stock Debtors 15 5,189 Cash at bank and in hand 17,511 Total current assets 22,700 Liabilities Creditors: amounts falling due in less than one year 16 (19,572) Net current assets 3,128 Total assets less current liabilities 3,128 Net assets 3,128 Funds of the charity Restricted income funds 17 1,338 Unrestricted income funds 18 1,790 Total charity funds 3,128 2023 |
£ £ - - - 34,683 34,683 (1,100) 33,583 33,583 33,583 33,490 93 33,583 2022 |
£ £ - - - 34,683 34,683 (1,100) 33,583 33,583 33,583 33,490 93 33,583 2022 |
|---|---|---|
| - 33,583 |
||
| 33,583 | ||
| 33,583 | ||
| 33,490 93 |
||
| 33,583 |
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,
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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 / 07 / 2023
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 2023
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 2023 (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 2023 (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 2023 (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 2023 Unrestricted Restricted Total 2022 £ £ £ £ £ £ 228 - 228 10 - 10 |
|---|---|
| 228 - 228 10 - 10 |
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Portraits of Recovery
Notes to the accounts for the year ended 30 March 2023 (continued)
4 Income from charitable activities
| Unrestricted | Restricted | Total 2023 | Unrestricted | Restricted | Total 2022 | |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |
| Grants | ||||||
| Achieve - Salford | ||||||
| Community | - | (11,972) | (11,972) | - | 15,000 | 15,000 |
| Arts Council England | ||||||
| Elevate (K.I.S.S) | - | 51,729 | 51,729 | - | 41,800 | 41,800 |
| Sounds at the | ||||||
| Edges - WEA | - | - | - | - | 15,000 | 15,000 |
| The Repair Centre - | ||||||
| WEA | - | 14,895 | 14,895 | - | 5,000 | 5,000 |
| Total | - | 54,652 | 54,652 | - | 76,800 | 76,800 |
| Fees and other income | ||||||
| Unrestricted | Restricted | 2023 | Unrestricted | Restricted | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Consultancy | - | - | - | - | - | - |
| Speakers fees | - | - | - | - | - | - |
| - | - | - | - | - | - | |
| All income from fees and trading is unrestricted. | ||||||
| Investment income | ||||||
| Unrestricted | Restricted | 2023 | Unrestricted | Restricted | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| 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 2023 (continued)
Analysis of expenditure on raising funds
| Total 2023 | Total 2022 | ||
|---|---|---|---|
| £ | £ | ||
| 7 | Fundraising costs | - | - |
8 Analysis of expenditure on charitable activities
| Artists fees, consultancy & 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 Board development |
Total 2023 Total 2022 £ £ 70,490 58,221 825 750 1,297 76 7,260 8,390 450 105 872 225 2,456 637 975 1,000 600 600 110 - |
|---|---|
| 85,335 70,004 |
|
| 2023 2022 £ £ 86,804 66,946 (1,469) 3,058 |
|
| 85,335 70,004 |
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Portraits of Recovery
Notes to the accounts for the year ended 30 March 2023 (continued)
10 Net income/(expenditure) for the year
| This is stated after charging/(crediting): | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| Depreciation | - | |
| Independent examiner's remuneration | ||
| - accountancy | 300 | 300 |
| - independent examination | 300 | 300 |
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 £25,200 (2022: £24,800).
12 Trustee remuneration and expenses, and related party transactions
No trustees received any remuneration or reimbursed expenditure in the year (2022 £nil).
Aggregate donations from related parties were £nil (2022: £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 (2022: 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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Portraits of Recovery
Notes to the accounts for the year ended 30 March 2023 (continued)
15 Debtors
| Debtors | |
|---|---|
| Trade debtors Prepayments and other debtors |
2023 2022 £ £ 5,173 - 16 - |
| 5,189 - |
16 Creditors: amounts falling due within one year
| Trade creditors Other creditors and accruals Grant repayable |
2023 2022 £ £ - - 7,600 1,100 11,972 - |
|---|---|
| 19,572 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 2022 Income Expenditure Transfers Balance at 30 March 2023 £ £ £ £ £ 1,727 14,895 (16,622) - - - - - - - 16,763 51,729 (67,154) - 1,338 15,000 (11,972) (3,028) - - |
|---|---|
| 33,490 54,652 (86,804) - 1,338 |
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Portraits of Recovery
Notes to the accounts for the year ended 30 March 2023 (continued)
17 Analysis of movements in restricted funds (continued)
| WEA - The Repair Centre WEA - Sounds at the Edges Arts Council England - Elevate Achieve - the Repair Works Previous reporting period |
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 71,800 (66,946) (237) 33,490 |
18 Analysis of movement in unrestricted funds
| General fund Core contribution to Elevate |
Balance at 31 March 2022 Income Expenditure Transfers As at 30 March 2023 £ £ £ £ £ 93 228 1,469 (1,037) 753 - - 1,037 1,037 |
|---|---|
| 93 228 1,469 (1,037) 1,790 |
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Notes to the accounts for the year ended 30 March 2023 (continued)
19 Analysis of movement in unrestricted funds (continued)
| Previous reporting period General fund |
Balance at 31 March 2022 Income Expenditure Transfers As at 30 March 2022 £ £ £ £ £ (369) 10 215 237 93 |
|---|---|
| (369) 10 215 237 93 |
20 Analysis of net assets between funds
| Tangible fixed assets Net current assets/(liabilities) Total |
General Designated Restricted fund funds funds Total £ £ £ £ - - - - 1,790 - 1,338 3,128 |
|---|---|
| 1,790 - 1,338 3,128 |
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