**REGISTERED COMPANY NUMBER: 07248211 (England and Wales) REGISTERED CHARITY NUMBER: 1149245** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **FOR** ## **UPSWING AERIAL LIMITED** Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE **UPSWING AERIAL LIMITED** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|10| |**Independent Examiner's Report**||11|| |**Statement of Financial Activities**||12|| |**Balance Sheet**|13|to|14| |**Notes to the Financial Statements**|15|to|22| |**Detailed Statement of Financial Activities**|23|to|24| **UPSWING AERIAL LIMITED** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report and the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019. ## **ORGANISATION** ## **Nature of the governing document and how the charity is constituted** The company, which is limited by guarantee, was formed on 10th May 2010. It is also a registered charity (number 1149245), and is governed by its Memorandum and Articles of Association. A board of trustees controls Upswing Aerial's activities. The role of the board in the governance of Upswing Aerial is to be responsible for the overall strategic development of the company and to drive the organization forward. The current board is composed of leading business, arts, community, and public sector individuals with an extensive range of experience and expertise in their respective fields. ## **Methods, policies and procedures for the recruitment, appointment, induction and training of new trustees** The Trustees have identified the range and skills and expertise that will strengthen the Board, and nominations for vacant positions are openly sought. New trustees can also be co-opted throughout the year and appointments are then subject to confirmation at the subsequent AGM on the basis of nominations. New trustees are inducted into the workings of the charity and provided with information regarding organisational and board policies and procedures. All new trustees sign a conflict-of-interest declaration and statement confirming their eligibility to hold office as trustees. A Trustee Code of Conduct is in place. The charity also organises strategic planning sessions for all the trustees in the form of Away Days, enabling both review and forward planning. Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustee meetings. ## **Trustees** The directors of the charitable company ('the charity') are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. Trustees are nominated through a process set out in the Articles of Association. ## **Company Secretary** C Ben Soussan ## **Artistic Director and Chief Executive Officer** V D Amedume ## **Executive Director** C Ben Soussan ## **Organisational Structure** Upswing Aerial is managed on a day-to-day basis by the Senior Management Team which consists of a part-time Artistic Director/CEO, part-time Executive Director and part-time Executive Producer. They are supported by a full-time General Manager and freelance associates in the areas of finance, marketing, administration, and producing. They report to the senior management team, which in turns reports to the Board of Trustees at quarterly meetings. ## **Stakeholders** The General Public Participating young people Participating older people Participants from socially excluded groups Participants with disabilities Participants in targeted multi-year engagement programmes such as young people and families and care home staff and residents Established and emerging artists, particularly those from Black and Global Majority backgrounds. Private and public funders Supporters Partner organisations Volunteers Local community Page 1 **UPSWING AERIAL LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** Local Authorities ## **RISK MANAGEMENT** The charity continually reviews the risks faced by the organisation through a company risk register, which is updated and reviewed at quarterly board meetings as part of the executive director's report. ## **RESERVES POLICY** The directors have established a policy whereby, to secure the on-going sustainability of Upswing Aerial Limited, they aim to hold unrestricted reserves ('the free reserves' - not committed in tangible fixed assets or restricted income) - in the order of four months of core expenditure (figured at £12,500 per month) for a total of £50,000. Any surplus above this amount is regarded as a safeguard for a shortfall in fundraising activity for projects and designated for the development and creation of new productions. Page 2 **UPSWING AERIAL LIMITED** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **OBJECTIVES AND ACTIVITIES** ## **Principal Activity** Founded in 2006 by Artistic Director Vicki Dela Amedume, Upswing is an award-winning Arts Council England National Portfolio Organisation (NPO) and the only female, Black-led contemporary circus charity in the UK. Upswing uses the human body as an expressive tool to entertain, inspire curiosity and ignite a desire to build connection. Upswing tells new stories in extraordinary ways - amplifying and celebrating the skills, creative talents and stories of diverse artists and communities. Difference and diversity are at the heart of our practice. Our creative process brings people together in movement, with ideas blossoming from the collision of different life experiences. In addition to theatres and festivals, Upswing brings extraordinary experiences to places where people who might not go to the theatre may go instead - a digital trail through a local park, a circus takeover in a care home, a large-scale spectacle on a rooftop or a bedtime story for families in libraries. It creates unexpected and memorable experiences for audiences. Upswing is a registered charity and receives core funding from Arts Council England as a National Portfolio Organisation (NPO). ## **Aims** A passion for circus, combined with values of excellence, innovation and inclusion underpin Upswing's work. Our organisation is guided by seven principles: **Drive change in the performing arts** - showcase what circus can be - how it is made, who by and push the boundaries of what it can achieve both artistically and as a force for social good. **Great experiences** - to create memorable, surprising and stimulating performances and participatory experiences for all adults and children **Sustained connections-** to connect with people where they live, work and play, in the streets and public buildings, in non-arts places, as well as theatres and venues, through national and international distribution and sustained creative community engagement programmes **Future audiences** - to build new audiences, by harnessing the broad appeal of circus in innovative ways through new media, new partnerships, relevant themes and accessible platforms **Nurturing creativity -** to embed creative learning and engagement throughout our programme giving people from all backgrounds, of all ages and abilities opportunities to discover, create and play through our work **Developing talent -** to create talent development, training and employment opportunities for emerging and mid-career circus professionals, prioritising support for underrepresented ethnically diverse/global majority practitioners **Growing ethically -** to place fairness, sustainability and inclusion at the heart of our function, making the right choices to build strategic partnerships and develop a resilient business model. ## **UPSWING'S WORK** ## **Productions** Recognised as the storytelling circus company, Upswing produces work that interweaves aerial, theatre, dance, text and multimedia to create fresh experiences with narrative punch. Our portfolio of works consists of touring shows for the outdoors and theatres with 8 productions to date, 2 shows created for library settings, 5 films and several commissioned spectaculars. Recent works include: **Seasons (2021)** - a creative programme exploring our changing relationship with nature and the world immediately around us; using music, visual design and circus. Working across the live and digital space, we created a live performance for libraries and outdoor spaces, three interactive audio stories and three short films. **Circus Flavours On Screen (2021)** - winner of the Audience Choice award for Short Documentary at the 2022 Circus International Film Festival, this film showcases 5 of our associate artists performing pieces commissioned by Upswing during the pandemic. **Catch Me (2019)** - An intimate and surprising take on age, race, and gender, performed in public spaces and incorporating a poetic mix of dance, circus and chairs. Page 3 **UPSWING AERIAL LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** **Home (2019)** - An outdoor spectacle celebrating our understanding of how home is what we build around us… our heritage and our future. Inspired by Coventry's architectural evolution and created in partnership with Highly Sprung for Coventry City of Culture. ## **Audiences** With inclusion and quality at the core of our artistic mission, Upswing is committed to producing work of the highest calibre for the widest range of audiences. The stories we choose to tell through our work places audiences at the heart of what Upswing does. Our creative engagement programmes invite people into the research and development of new ideas to share their thoughts and experiences, which then informs the work we make. This research-led approach creates not only an exceptional portfolio, it also ensures that productions resonate with a wide range of people, attract new and diverse audiences, and support the society in which we live. ## **Our audience development efforts are centred around:** - Maintaining the number of our audiences from segments and areas least involved in arts and culture - Testing and exploring new methodologies for audience development that the sector can learn from - Increasing the depth and quality of our participation and digital offer - Establishing partnerships with local venues to develop and present work to encourage local audience engagement and build an audience for contemporary circus. ## **Engagement** Upswing's Creative Engagement Programme is tied closely to the development of new work - creating opportunities for people to gain skills and meaningful experiences while directly engaging with the creative focus of the company. Through participation with our work, people are able to explore their own stories and discover their potential as well as benefitting from the tangible impact Circus can offer: - increased confidence, through achieving potential, often beyond expectations; - better teamwork, increased collaboration, trust and empathy - better understanding of risk, how to respond to challenges and how to overcome fear; - increased wellbeing through self-expression, physical activity, fun and play; increased creativity, curiosity and wonder. ## **Artist Development** Upswing provides much needed, high-quality circus training and support to artists both established and emerging, through a range of training programmes, mentoring, showcasing and networking opportunities. Programmes respond to sector gaps, boost skills, employability and confidence, support diversity and representation by supporting artists and creatives from the Global Majority. Page 4 **UPSWING AERIAL LIMITED** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **ACHIEVEMENT AND PERFORMANCE** ## **2018-2022 Priorities** **Priority 1** To create three new productions; innovative, boundary-pushing work that feels of our time and explores these thematic strands: - **20:20** - about Global majority identities and our changing cultural demographics and understanding - **Changing Altitudes** - about ageing, gender stereotypes and intergenerational relationships - **Family Stories** - about modern families, reflecting their interests, questions and their extraordinary/ordinary lives **Priority 2** To extend the reach of our productions to audiences in new places and spaces. **Priority 3** To build evidence of circus' impact on health, wellbeing and learning, by developing new, or extending existing strategic programmes. **Priority 4** To maintain our much-needed leadership role and influence change around the perception of circus as an art form, its standards, training, diversity and practice. The Trustees of Upswing Aerial have had regard to the Charity Commission's guidance on public benefit and are satisfied that the charity meets the public benefit 'test'. Upswing has acted in accordance with our charitable aims in relation to younger and older people, and issues of disability, ethnicity, and social exclusion. This commitment has also been evidenced by the company's successful delivery of, and positive reaction to, services both direct to the public and to and with voluntary organisations serving the public and the public sector as partners. ## **ONGOING IMPACT OF COVID-19 April 2021 - March 2022** As the effects of the pandemic continued to impact the arts and cultural community, Upswing was in receipt of funding through Arts Council England's Cultural Recovery Fund programmes. This funding not only sustained the company but also made it possible to adapt our work to digital and to support our return to live touring. Thanks to Upswing's experience of working outdoors, the company was in a strong position to return to touring as soon as restrictions were lifted in May 2021. **Catch Me** : Our 2019 production returned to pick up postponed 2020 dates as well as new 2021 dates. A new version of this show was created in summer 2020 to allow for the social distancing of the performers. We continued to adapt this production as Covid-19 guidance opened up over the summer. **Circus Flavours** : Our summer festival engagement programme returned with a newly adapted participation/workshop element that allowed for social distancing of workshop leaders and participants. **Seasons** : A new production for children and families designed to tour alternative spaces - 60 performances were delivered in a mix of outdoor spaces and indoor public spaces (libraries) as Covid-19 restrictions allowed. The production was designed with our touring team in a bubble and an audience configuration (using individual tents) to allow for social distancing. Upswing were sector leaders in developing practices to safely return to work, to manage audiences, and to push promoters and venues to work collaboratively with us in responding to the Pandemic: - Establishing strict rehearsal room guidelines and practice including regular LFT testing and social distancing; - Creating touring practices that encouraged working in a bubble including living/travelling arrangements; - Developing contract language to ensure that the company would not be at risk from changes in Covid-19 guidance or the possibility of Covid cases within the company; - Leading on support for freelance artists and production teams - ensuring their safety and their support was primary in our negotiations and planning. - Developing linked Digital programmes (Circus Flavours on screen; Seasons Digital, Catch Me film); to ensure that we - had programming options if live performance became untenable. Page 5 **UPSWING AERIAL LIMITED** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **SUMMARY OF ACHIEVEMENTS IN 2021-22** ## **INTRODUCTION** Whilst still a relatively small organisation, Upswing has successfully grown and expanded the quality and scale of its activities over the last 13 years. It has proven itself to be dynamic and resourceful in the face of changing contexts. With a supportive board of trustees and a small but committed team, the organisation is agile and enterprising and well placed to respond to opportunities that arise. This was particularly in evidence in 2020, when Upswing became one of the first circus and outdoor arts companies to return to live work following lockdown. Since then, Upswing has proactively seized opportunities which have arisen with its ability to adapt its artistic work to different contexts resulting in 2021 touring being one of the most ambitious since the company's inception with 3 shows, including brand new production Seasons, on the road and 93 performances across the UK. The company managed to retain a competitive edge by engaging successfully with hybrid formats and the creation of 4 films and 3 spoken word pieces (Seasons Digital and Circus Favours on screen). We employed over 40 artists and creatives and commissioned 6 artists from the global majority to create new work and tour (Circus Flavours). We toured 1 new production (Seasons) to libraries and community spaces. We started research & development for 3 new productions (Common Ground, Susan & Jerone and Ancient Futures). We invested in our sector, working with peers to create a better future for Circus and Artist led practice through advocacy and peer networks. The support of existing funders and recovery funding enabled us to retain our growth trajectory in the face of the pandemic demonstrating that we can deliver our ambitious programme given the right resources but also evidencing a gap in current levels of core funding. Upswing was successful in applying for Cultural Recovery Funds in rounds 2 and 3 and was awarded a total £113,145. This funding sustained our daily operations and enabled us to resume activity quickly and effectively following government restrictions easing. It allowed us to maintain organisational capacity to ensure we could deliver an unprecedented summer of touring in 2021 and a new focus on digital output that has enhanced our methods of reaching audiences and developing artistic work. ## **2021-22 ARTISTIC PROGRAMME: KEY HIGHLIGHTS** ## **Catch Me** As stated above, despite ongoing disruption of the Covid-19 pandemic, in 2021-22 Upswing was able to deliver an extensive summer tour. The socially distanced version of Catch Me toured outdoor events and festivals between May and September 2021 including Bernie Grant Arts Centre, The Lowry, and Appetite Festival. The show challenges and highlights issues of race, age, and gender and features an intergenerational and diverse cast of two - an emerging young Black male circus artist, and an older female dancer. The new version toured with new cast members Alecsander Javier Nilsson and Rachel Gomme. ## **Seasons and Seasons Digital** In July we embarked on the second phase of our Seasons project, a three-year creative engagement project rooted in our long-standing partnership with Brent Libraries. We worked with acrodancer Sian Foster and juggler Helena Berry, supported by Stage Manager Steph Andrews. Seasons toured libraries and community venues across the country between July and October 2021 with 60 performances in 26 venues. Alongside the performances we worked with spoken word artist Miss Jackie who delivered 5 workshops for schools and 3 family workshops at Wembley and Willesden Libraries during October. To complement the live show, we produced Seasons Digital, an online hub for digital content which could be used to enhance the live show or as a standalone resource for children and families. This was a new venture for Upswing and following the success of our Circus Flavours film, Upswing commissioned Miss Jackie to write three spoken word pieces on the themes: The grass between my fingers, The Tree and Me, and Nature is Home. These spoken word pieces were recorded with an audio soundtrack, and three films were then created featuring circus performers Rebecca Solomon, Shane Hampden and Louis Gift engaging with the themes in each spoken word piece. ## **Circus Flavours** Our popular touring event that combines short performances with free workshops was reframed to support our diversity priorities by only featuring the work of underrepresented artists in 2021. Upswing commissioned the new works and a 25-minute film, Circus Flavours on Screen, was made featuring interviews of the artists and their newly commissioned individual acts shown in full. The film highlights our commitment to amplifying the work of diverse artists but also helps grow the popularity and versatile nature of the self-contained live shows which, delivered alongside free workshops for audiences, make it an attractive offer for bookers and festival programmers and a reliable source of earned income for the company. The Circus Flavours film was entered for the Circus International Film Festival 2022 where it won the Audience Choice Award. Page 6 **UPSWING AERIAL LIMITED** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** In the run up to a more extensive tour scheduled for summer 2022 Upswing performers took part in a series of one-off dates as part of Appetite Stoke. These engagements provided an opportunity for young people from local schools and colleges to experience different circus performances and ask the artists questions about their training and skills. ## **Common Ground** Director Vicki Dela Amedume, Comedian and Writer Athena Kugblenu, musician Afrikan Boy and five ethnically diverse artists will collaborate on a new circus theatre project that explores the complexity of identity and the difficulty we have talking about race. It will challenge, involve and entertain our audiences, using a gameshow format to determine which of the five performers should win a role in an imaginary Circus troupe with a tongue and cheek approach to explore how people - without even noticing - can become complicit in systems that cause disadvantage. This multi-disciplinary mash-up of populist artforms (circus, spoken word, UK Hip Hop, Grime and Afrobeat) will further the practice and talents of early to mid-career artists and practitioners. The work will be presented in London, nationally and internationally with existing and new venue partners. ## **Ancient Futures** A-co-production with Unlimited Theatre that combines circus, theatre, storytelling and AR technology into an outdoor durational performance with integrated participatory elements that climaxes in a high energy twilight spectacle, ritual and party event. The work draws from a rich thematic world inspired by Afrofuturism, a cultural movement that uses the African Diaspora cultural lens to imagine greater justice and freedom for Black people in the future. The piece uses circus, music and spectacle to reflect on how far we have come as a society and how much further we could get if we could learn from our past to imagine a more radical and equitable future. ## **Artform and Sector Development: Access, Inclusion and Excellence** ## Slow Thinking Upswing worked with colleagues from Mimbre (an all-female contemporary acrobatic company) to revisit our Slow Thinking programme of significant, online conversations (originally launched at the earliest stages of the pandemic in Spring 2020) organising a session focusing on Mental Health in the Rehearsal Room in March 2022. Molly Nicholson (Scottee and Friends), Farrell Cox, and Søren Nielson and Daniela Essart (Scarabeus Aerial Theatre) shared their tools and practices and this was followed by a Q&A and an open discussion for others to share their approaches and reflections. ## **1:1 support for Circus Flavours performers** Vicki Dela Amedume and regular collaborator of Upswing Eric Mitchell worked with six performers to refine their own performances for Circus Flavours in advance of the summer tour. All performers who took part in these sessions indicated that they would like to be offered more sessions like this in the future, with one performer indicating that such input would be extremely useful when developing a new act. "The sessions allowed me to push my artistry in the direction I was hoping, as Vicki and Eric understood my personality, which I wanted to show through my work. It was great that we had such a close proximity working one on one, as the sessions were very focused and prioritised to what I wanted to achieve." Circus Flavours Artist "Being in the space with more than one artist motivates me and I'm able to share my best thoughts and feel inspired by who surrounds me. This was one of the best moments for me as an artist this year". Circus Flavours Artist ## **Ella Mesma Dance Company** Vicki Dela Amedume provided artistic consultancy to Ella Mesma Dance Company in November 2021. "It was incredibly inspiring, comforting and supportive to have Dela Vicki Amedume in the space as dramaturg. Her leadership style is truly one that nurtures and supports the individual to find their voice and authentic expression. We covered the two pieces and the future of the company in our session: I am eternally grateful and would love to work with her again." Ella Mesma ## **Join the Dots** Upswing facilitated a Join the Dots self-evaluation session for Coventry-based company Highly Sprung in October 2021. "It was great to have space to do a deep reflection on a piece of work with knowledgeable colleagues, it gave me space to think about my own creative practice as much as support Highly Sprung with its development." Join the Dots Panelist Page 7 **UPSWING AERIAL LIMITED** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **Black Women and Gender Non-conforming Artists and Creatives in Circus Retreat at 101 Creation Space** In October 21 Upswing organised a week's residential retreat intended to provide Black female and gender non-conforming professionals working in circus and outdoor arts with a safe space to collaborate, share and develop professionally. The retreat was an extension of the 'Sunday Brunch Group' of 30 Black women, circus artists that had been regularly convened by Vicki Dela Amedume since June 2020. The retreat was the first UK gathering for Black Circus artists and held at 101 Outdoor Arts Creation Space in Newbury, and 11 artists attended. Feedback was extremely positive with all participants referring to the value of being able to connect with other Black artists, building a support network and building visibility for the growing numbers of Black artists in the sector. ## A Manifesto for change is a developing outcome of the retreat. "I appreciate the safe, kind and open nature of the retreat. I did not feel any competitiveness or judgement of me or my input. I thrived in the atmosphere we created together. After a lonely 18 months of unknowing times I was thankful to be in a held comfortable space to gather my thoughts and feelings about my professional practice and consider my way forward…I am very grateful for the opportunity to participate in the retreat and make connections with fellow industry professionals. I feel strengthened by and thankful for every precious moment I experienced. It was a life changing time for me and will have a long lasting, dare I say lifetime impact." Retreat participant ## **Big Village - Digital** Upswing was awarded funding from the British Council as part of their UK-Australia Season programme of work across 2021 and 2022. Big Village - Digital involved a series of online conversations between three UK Companies (Upswing, The Cocoa Butter Club, Collectif and Then…) and three Australian Companies (Casus Circus, Na Djinang Circus and The House of Alexander). The conversations took place over a period of three months and culminated in an online public discussion about the six companies' experiences of creating work as Global Majority-led companies. A Manifesto for Action was produced and disseminated and draws on the discussion and learning from this project. The Manifesto has been downloaded 356 times to date. "It was an enriching and powerful experience to be in a digital space that allowed for people in different parts of the world to share, connect and build community. It was great to be able to be open and honest about hard experience within the arts as well as form solutions." UK participant "Big Village Digital gave opportunities for practising arts practitioners who are people of colour to not only share similar experiences and challenges faced in our respective countries but also to work with one another to support one another both culturally and professionally." Australian participant ## **Creative Engagement** **Homemade Circus** : A multi-year project originally designed to introduce circus activities and performances in care homes has been adapted due to challenges faced by care providers in bringing live creative activities into care settings. We have added a digital resource to our offer that will allow staff to take the lead and deliver circus activities which we hope will influence the care home sector nationally through a sustained presence at conference events and via the dissemination of an innovative Virtual Learning Suite. The project will see the training and development of 15 diverse freelance circus artists, benefitting 50 care home staff and engaging with 1000 care home residents across London and the Southeast. This work is key to furthering our ambition in supporting artist development and being a sector leader is advancing the relationship between art, social care and wellbeing. **Seasons Legacy** : Our three-year creative programme exploring our changing relationship with nature and the world around us for and with young audiences will culminate in 2023 with a legacy programme for schools and libraries. This will take the form of a Circus in Libraries handbook and learner resources for school groups as well as continuing with the promotion of Seasons Digital - the online hub hosting poems and films to download or stream that delve deeper into the topics that underpin the live performances. ## **DIGITAL ENGAGEMENT** ## Creative In 2021-2022 we continued to explore how we can offer work in hybrid form. Our artistic programme has pivoted to include online assets that complement and enhance live work but also promote access and inclusion by reaching new audiences and those who would normally not engage with live performance. The company now produces digital creative content as part of most of its projects. Page 8 **UPSWING AERIAL LIMITED** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **Online reach** As well as reaching online audiences through our films, sector sessions and digital resources on our website, Upswing has been proactively growing its social media followers through a series of takeovers and spotlight post that feature the work of our regular artists and creatives. This has been particularly successful on Instagram and YouTube with a significant increase in engagement. Upswing will continue to develop its digital strategy and refine content in line with our organisational goals and values to reach and feature underrepresented artists and communities and explore ways to overcome digital inequalities. ## **ORGANISATIONAL DEVELOPMENT AND FINANCIAL RESILIENCE** ## **Building Resilience** As stated above, the receipt of Cultural Recovery Funding from Arts Council England was significant in not only maintaining stability through the pandemic, it was critical in allowing us the time and opportunity for strategic planning supporting our creative programming and operation for the period from 2022 and beyond. The Company continues to work in a hybrid manner with a mix of remote and office-based work which particularly suits the current operational structure of the company. In many ways, coming out of the worst of the pandemic, the experience of working remotely but connecting digitally has made us more efficient and has stretched our ability to establish strong, working partnerships that wouldn't have been possible in the days before Zoom or Teams. As we have shifted back into a more active producing mode, we have been able to develop our capacity model of a part-time Senior Management Team and a full-time General Manager. While the Executive Director and Executive Producer positions were both created from the previously 1.0 FTE Executive Director role (pre-2020) - both roles are now .6 FTE with flexibility to increase during busy periods making it possible to increase key core capacity as required. During 2021-2022 freelance support consisted of communication assistance, financial management and producing support for projects and participation and engagement. ## **Governance** Following an internal skills audit, the trustees identified gaps on the board and actively recruited to bring in required expertise on the board. As a result one new trustee was appointed during the year. The trustees also attended a gender awareness training session. ## **Staff structure** In 2021-2022 the Upswing company structure consisted of 4 PAYE staff: Artistic Director / CEO (0.8 FTE) Executive Director (0.6 FTE) Executive Producer (0.6 FTE) General Manager (Full time) ## **Financial Management** Upswing continued to use Xero and the cloud-based system enables the Finance Associate and General Manager to work remotely managing and reporting on the finances. The company has finished the year in a stronger financial position than anticipated despite the continuing challenges of the Pandemic. Unrestricted and undesignated Funds stand at £132,604 which meets the company's reserves target of £50,000 and allows for a safeguard against a potential fundraising shortfall. ## **Unrestricted Reserves** Reserves at £132,604 at 31st March 2022, (£113,479: 2021), including designated funds of £37,000 (£37,000: 2021) approved by the trustees for the development of new work ## **Income Streams** £425,150 total income (2021: £263,950) Page 9 **UPSWING AERIAL LIMITED** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** Arts Council England National Portfolio Income: £117,795 = 28% of total (46% previous year) Contributed Income: £190,617 = 45% of total (31% previous year) Earned Income: £113,376 = 26% of total (8% previous year) Other Income: £3,362 = 1% of total (15% previous year) ## **Risk Mitigation and Planning** A detailed risk register is monitored quarterly by the board of trustees. All existing policies and procedures have been reviewed and updated; and the register now incorporates risks and mitigations related to Covid-19. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 07248211 (England and Wales) ## **Registered Charity number** 1149245 ## **Registered office** Rich Mix 35-47 Bethnal Green Road London E1 6LA ## **Trustees** F Greenhill (resigned 7.6.21) O M Keady (resigned 15.5.21) L Morgan N A B Nwakodo A Okojie (appointed 7.6.21) K M Walker C J Wane J M C Williams (resigned 13.5.21) M H Young N Lyndon (appointed 19.8.22) M H Nabirye (appointed 7.7.22) L Rosenthal (appointed 7.4.22) ## **Company Secretary** C Ben Soussan ## **Independent Examiner** Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ L Morgan - Trustee Page 10 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UPSWING AERIAL LIMITED** ## **Independent examiner's report to the trustees of Upswing Aerial Limited ('the Company')** 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales 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: 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. Colin Young BA FCA Institute of Chartered Accountants in England and Wales Galloways Accounting Atlas Chambers 33 West Street Brighton East Sussex BN1 2RE Date: ............................................. Page 11 ## **UPSWING AERIAL LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 118,813 189,600 308,413 205,578
Charitable activities
Artistic programmes 70,660 6,000 76,660 4,750
Consultancy 9,183 - 9,183 13,408
Other 27,532 - 27,532 6,137
Other income 4 3,362 - 3,362 34,077
Total 229,550 195,600 425,150 263,950
EXPENDITURE ON
Raising funds 5 600 6,830 7,430 6,367
Charitable activities 6
Artistic programmes 198,233 158,310 356,543 196,809
Workshops 11,592 - 11,592 325
Other - - - -
Total 210,425 165,140 375,565 203,501
NET INCOME 19,125 30,460 49,585 60,449
RECONCILIATION OF FUNDS
Total funds brought forward 113,479 51,832 165,311 104,862
TOTAL FUNDS CARRIED FORWARD 132,604 82,292 214,896 165,311
**----- End of picture text -----**
The notes form part of these financial statements Page 12 ## **UPSWING AERIAL LIMITED** ## **BALANCE SHEET 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 4,535 - 4,535 1,612
Investments 13 100 - 100 100
4,635 - 4,635 1,712
CURRENT ASSETS
Debtors 14 48,213 - 48,213 37,363
Cash at bank and in hand 111,301 82,292 193,593 140,108
159,514 82,292 241,806 177,471
CREDITORS
Amounts falling due within one year 15 (31,545) - (31,545) (13,872)
NET CURRENT ASSETS 127,969 82,292 210,261 163,599
TOTAL ASSETS LESS CURRENT LIABILITIES 132,604 82,292 214,896 165,311
NET ASSETS 132,604 82,292 214,896 165,311
FUNDS 17
Unrestricted funds 132,604 113,479
Restricted funds 82,292 51,832
TOTAL FUNDS 214,896 165,311
**----- End of picture text -----**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 13 continued... **UPSWING AERIAL LIMITED** ## **BALANCE SHEET - continued 31 MARCH 2022** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. L Morgan - Trustee ............................................. C J Wane - Trustee The notes form part of these financial statements Page 14 **UPSWING AERIAL LIMITED** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **1. STATUTORY INFORMATION** Upswing Aerial Limited is a limited-by-guarantee company incorporated in England and Wales. 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 address of the registered office is given in the Trustees' Report on page 9 of these financial statements. The nature of the charity's operations and principal activities are the use of circus to tell stories, amplify skills, talents and stories of diverse artists and communities. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. ## **Income** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable they will be fulfilled. No amount is included in the financial statements for volunteer time. Monies received for performances at venues are recognised in the Statement of Financial Activities at the date of the show. Monies received from furthering the art of drama through providing workshops and consultancy to other theatre groups and individuals are recognised on the date that the service is provided. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance related conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. ## **Expenditure** Resources are included on the Statement of Financial Activities on an accruals basis and have been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: -Costs of raising funds includes those costs directly related to fund-raising activities; -Expenditure on charitable activities includes expenditure which is directly attributable to specific activities; and -Other expenditure represents those items not falling into the above categories. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery - 25% on cost Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Page 15 continued... **UPSWING AERIAL LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **2. ACCOUNTING POLICIES - continued** ## **Fund accounting** Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The cost of raising and administering such funds are charged against the specific fund. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Investments** Investments in subsidiaries are stated at cost less accumulated impairment. ## **Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **3. INCOME FROM CHARITABLE ACTIVITIES** ## **4.** |Activity
Venue fees
Artistic programmes
Other funding
Artistic programmes
Consultancy
Consultancy
Theatre tax relief
Other
Other funding
Other
**OTHER INCOME**
Government grants|**2022**
**£**
**70,660**
**6,000**
**9,183**
**24,964**
**2,568**
**113,375**
**2022**
**£**
**3,362**|2021
£
4,750
-
13,408
6,026
111
24,295
2021
£
34,077| |---|---|---| Other income includes Government grant income relating to the Coronavirus Job retention Scheme amounting to £3,362 (2021: £34,077l). There are no unfulfilled conditions and other contingencies attached to the grants. Page 16 continued... **UPSWING AERIAL LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **5. RAISING FUNDS** ## **Raising donations and legacies** |**2022**
**£**
Consultancy
**6,830**
Fundraising fees and expenses
**600**
**7,430**
**6.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 7)
£
£
Artistic programmes
**290,376**
**66,167**
Workshops
**11,592**
**-**
**301,968**
**66,167**
**7.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Artistic programmes
**61,797**
**4,370**
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**2022**
**£**
Independent examiner's remuneration
**2,475**
The auditing of accounts of any associate of the charity
**395**
Accountancy services
**1,500**
Depreciation - owned assets
**1,995**
Other operating leases
**9,003**|2021
£
900
5,467
6,367
Totals
£
**356,543**
**11,592**
**368,135**
Totals
£
**66,167**
2021
£
1,490
-
1,490
2,313
8,838| |---|---| ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. Page 17 continued... **UPSWING AERIAL LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
10. STAFF COSTS
2022 2021
£ £
Wages and salaries 109,905 106,280
Social security costs 5,917 5,968
Other pension costs 2,454 2,477
118,276 114,725
The average monthly number of employees during the year was as follows:
2022 2021
Employees 4 4
No employees received emoluments in excess of £60,000.
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 195,578 10,000 205,578
Charitable activities
-
Artistic programmes 4,750 4,750
-
Consultancy 13,408 13,408
Other 6,137 - 6,137
Other income 34,077 - 34,077
Total 253,950 10,000 263,950
EXPENDITURE ON
-
Raising funds 6,367 6,367
Charitable activities
-
Artistic programmes 196,809 196,809
Workshops 325 - 325
Other - - -
Total 203,501 - 203,501
NET INCOME 50,449 10,000 60,449
RECONCILIATION OF FUNDS
Total funds brought forward 63,030 41,832 104,862
TOTAL FUNDS CARRIED FORWARD 113,479 51,832 165,311
**----- End of picture text -----**
Page 18 continued... **UPSWING AERIAL LIMITED** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **12. TANGIBLE FIXED ASSETS** |**TANGIBLE FIXED ASSETS**|| |---|---| |**COST**
At 1 April 2021
Additions
Disposals|Plant and
machinery
£
**40,302**
**4,918**
**(12,690)**| |At 31 March 2022|**32,530**| |**DEPRECIATION**
At 1 April 2021
Charge for year
Eliminated on disposal|**38,690**
**1,995**
**(12,690)**| |At 31 March 2022|**27,995**| |**NET BOOK VALUE**
At 31 March 2022|**4,535**| |At 31 March 2021|1,612| |**FIXED ASSET INVESTMENTS**
**COST LESS IMPAIRMENT**
At 1 April 2021 and 31 March 2022|Shares in
group
undertakings
£
**100**| |**NET BOOK VALUE**
At 31 March 2022|**100**| |At 31 March 2021|100| ## **13. FIXED ASSET INVESTMENTS** There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companies include the following: ## **Upswing Productions Limited** Registered office: Rich Mix, 35-47 Bethnal Green Road, London, England, E1 6LA Nature of business: Dormant ||%||| |---|---|---|---| |Class of share:|holding||| |Ordinary|**100**||| |||**2022**|31.3.21| |||**£**|£| |Aggregate capital and reserves||**100**|100| Page 19 continued... **UPSWING AERIAL LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**2022**
**£**
Trade debtors
**-**
Other debtors
**-**
VAT
**2,370**
Prepayments and accrued income
**45,843**
**48,213**
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
**£**
Trade creditors
**22,474**
Amounts owed to group undertakings
**100**
Social security and other taxes
**2,914**
VAT
**-**
Other creditors
**604**
Accruals and deferred income
**5,453**
**31,545**
**16.**
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
**2022**
**£**
Within one year
**-**
**17.**
**MOVEMENT IN FUNDS**
Net
Transfers
movement
between
At 1.4.21
in funds
funds
£
£
£
**Unrestricted funds**
General fund
**113,479**
**19,125**
**-**
**Restricted funds**
Homemade Circus
**27,500**
**-**
**(20,000)**
Seasons
**24,332**
**(17,989)**
**-**
Core
**-**
**26,004**
**20,000**
Common Ground
**-**
**20,945**
**-**
Big Village Digital
**-**
**1,500**
**-**
**51,832**
**30,460**
**-**
**TOTAL FUNDS**
**165,311**
**49,585**
**-**|2021
£
5,155
21,885
-
10,323
37,363
2021
£
520
100
2,058
591
418
10,185
13,872
2021
£
877
At
31.3.22
£
**132,604**
**7,500**
**6,343**
**46,004**
**20,945**
**1,500**
**82,292**
**214,896**| |---|---| Page 20 continued... **UPSWING AERIAL LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **17. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
**229,550**
**Restricted funds**
Seasons
**32,999**
Catch Me
**10,991**
Core
**113,145**
Common Ground
**32,465**
Big Village Digital
**6,000**
**195,600**
**TOTAL FUNDS**
**425,150**
**Comparatives for movement in funds**
Net
movement
At 1.4.20
in funds
£
£
**Unrestricted funds**
General fund
63,030
50,449
Designated
-
-
63,030
50,449
**Restricted funds**
Homemade Circus
27,500
-
Seasons
14,332
10,000
41,832
10,000
**TOTAL FUNDS**
104,862
60,449
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
253,950
**Restricted funds**
Seasons
10,000
**TOTAL FUNDS**
263,950|Resources
Movement
expended
in funds
£
£
**(210,425)**
**19,125**
**(50,988)**
**(17,989)**
**(10,991)**
**-**
**(87,141)**
**26,004**
**(11,520)**
**20,945**
**(4,500)**
**1,500**
**(165,140)**
**30,460**
**(375,565)**
**49,585**
Transfers
between
At
funds
31.3.21
£
£
(37,000)
76,479
37,000
37,000
-
113,479
-
27,500
-
24,332
-
51,832
-
165,311
Resources
Movement
expended
in funds
£
£
(203,501)
50,449
-
10,000
(203,501)
60,449| |---|---| City Bridge Trust funded Homemade Circus - a three-year project with 6 London residential care homes, providing training, workshops, events and a toolkit, encouraging active arts participation for the elderly and those with dementia. ACE CRF 2 funded Upswing's post pandemic recovery activity between April and December 2021. ACE CRF 3 funded Upswing's continuity programme following CRF2 between November 2021 to March 2022. Page 21 continued... **UPSWING AERIAL LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **17. MOVEMENT IN FUNDS - continued** ACE NLPG funded Falling Together ( now Common Ground) partnership project with Bernie Grant Arts Centre & Brixton House to put our work at the heart of these communities offering a mix of live outdoor performance, engagement activity and 3 Circus Films John Lyon's Charity, Wembley Park Community Fund and the London Borough of Brent funded the production of "Seasons" - a three year creative programme in partnership with libraries exploring our changing relationship with nature and the world immediately around us, using music, visual design and circus. City of London funded Circus in the City a one-day outdoor performance showcasing BAME/older circus artists/dancers alongside an opportunity for audiences to take part. Arts Depot gave £1k towards a residency to develop a sequel of Catch Me. ## **18. RELATED PARTY TRANSACTIONS** At the year end, the company owed its subsidiary, Aerial Productions Limited, £100 (2021: £100). Page 22 **UPSWING AERIAL LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Grants 308,413 205,578
Charitable activities
Venue fees 70,660 4,750
Consultancy 9,183 13,408
Theatre tax relief 24,964 6,026
Other funding 8,568 111
113,375 24,295
Other income
Government grants 3,362 34,077
Total incoming resources 425,150 263,950
EXPENDITURE
Raising donations and legacies
Consultancy 6,830 900
Fundraising fees and expenses 600 5,467
7,430 6,367
Charitable activities
Wages 109,905 106,280
Social security 5,917 5,968
Pensions 2,454 2,477
Production costs 122,307 24,047
Workshops 11,592 325
Freelance staff 49,793 22,733
301,968 161,830
Support costs
Management
Office rent 9,003 8,838
Insurance 5,530 5,640
Telephone 847 782
Postage and stationery 6,117 1,781
Sundries 2,108 842
Computer expenses 5,661 2,883
Storage rental 8,184 6,850
Subscriptions 2,137 783
Bank charges 122 125
PR and marketing 6,976 900
-
Recruitment expenses 3,406
Travel and subsistence 9,710 588
Depreciation of tangible and heritage assets 1,996 2,312
61,797 32,324
**----- End of picture text -----**
This page does not form part of the statutory financial statements Page 23 **UPSWING AERIAL LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** **----- Start of picture text -----**
2022 2021
£ £
Management
Governance costs
Independent examiner's remuneration 2,475 1,490
Independent examiner's remuneration for non-
examination services 1,895 1,490
4,370 2,980
Total resources expended 375,565 203,501
Net income 49,585 60,449
**----- End of picture text -----**
This page does not form part of the statutory financial statements Page 24