RRL, Charity Registration No. 1149763 Company Registration No. 0817S764 {England and Wales) THE CORNUBIAN ARTS AND SCIENCE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms TRS Gleadowe Mr CJ Hibbert Mrs KS Townshend MrAG Cameron Mr PR Williams Mr JA Wilkin Secretary Mr JA WThlkin Charty number 1149763 Company numbgr 08175764 Regl$ter&d offlce 3 Penrose Road HELSTON Comwall TR13 8TP Independent examlngr Mark Williams FCA DChA RRL LLP Peal House Newham Road TRURO Comwall TR1 2DP
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" CONTENTS Pagg Trustees. report Independent examinerfs report 11 Statement of financial activities Balance sheet 13 Notes to the financial statements 14-22
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their annual report and financial statements for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out In note 1 to the financial slalements and comply wth the charity's Articles of Association, the Companies Act 2006 and 'A¢counling and Reporting by Charities". Stslemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repo.ng Standard applicable in the UK and Republic of Ireland IFRS 1021. Objectlves and actlvltles The Objects of the Comubian Arts & Science Trust, are as follows.. To educate in and promote the Arts and Sciences for the public benefit and lo further the development of the public appreciation of the Arts and Sciences. CAST aims lo promote participation, appreciation and learning in the visual arts and lo encourage interdisciplinary dialogue and collaboration across the arts and sciences. 11 is commrtted lo the pursuit of excellence. CAST works with artists, curators, writers and specialists from other fields, locally, regionally, nationally and internationally, to develop professional expertise and exchange, to present examples of outstanding creative practice, and to create opportunities for audiences of all ages lo experience groundbreaking cultural activity. CAST'S activities include.. organisation of professional workshops, conferences, lectures and other educational aclivilies, visual arts events and exhibitions, and management of studio spaces in its Helslon building lo provide workspaces for artists, selected according lo the following criteria.. The quality and potential of their work Their commitment to make full use of their work spaces to develop their own creative practi Their interest in being part of an inter-generational comrnunity of artists and in contributing towards a strong and outward-looking creative community Their sympathetic understanding of CAST'S aims and of CAST'S commitment lo offer public benefit through practice, research, instruction, learning and enjoyment of the arts and seienees in Cornwall, and nationally and intemalionally. The ITUStees have paid due regard to guidan issued by the Charity Commission in deciding what activities the charity should undertake.
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 Slgnlflcant actlvltles CAST developed out of a series of contemporary art events organised in Cornwall since 2010 The Falmouth Convention (May 20101 and The Penzance Convention (May 20121 and residential workshops held at Kestle Barton on the Lizard peninsula since October 2011. Several of these events involved dialogue between artistic and scientific disciplines. Through events such as these, CAST seeks lo provide opportunities for artists and audiences in Cornwall and the South Wesl lo be engaged in thinking inlernab"onally and across cultures. CAST is based in Helston, in the former School of Science and Art given lo the town by the philanthropist John Passmore Edwards in 1897. The building later became a County Secondary School and was extended in 1905 and 1913. bul il became redundant with the introduction of comprehensive education in 1972 and was later used as a Community cenlre. It was sold by Helslon Town Council in August 2012. The building was purchased by two benefactors and was initially leased to CAST at a peppercorn rent on a lease of six years, renewable. In 2016 the benefactors decided to give the building to CAST and ownership was transferred in January 2017. CAST Trustees intend that the building should play a significant part in the cultural and creative life of the people Df Helston and the surrounding area, while al the same lime having a role as a nationally and Indeed intemalionally important focal point for the arts. CAST manages the building as a studio complex and also presents a very active programme of public activities, including talks, workshops, screenings and other cultural and educational events and activities. The Groundwork programme, which ran from 2016 10 2018, was CAST'S most ambitious project lo dale- a Ihree-year programme of international contemporary art SLJPPOrted by Arts Council England IACEI through a grant of £500,000 from the Ambition for EXllenCe funding scheme, with additional grants of £50,000 each from Freelands Foundation, Ampersand Foundation and Cornwall Council. Achlevemènts and pgrfomiancg Charitable Activities In 2019, following the close of the Ihree-year Groundwork programme, CAST had to adapt to substsntial down- scaling of its budget, while also striving lo sustain activity and develop opportunities offered by the experience of Groundworf(. The Trustees recognised the importan¢e of maintaining a public programme and the need lo find funding for this, acknowledging that CAST had made progress to date by wmbining long-term strategy with alert responses to ftjnding opportunity. In the summer of 2018 CAST had received ils first grant funding from the Garcia Family Foundation, given lo support the Lightbox programme of creative activities for children and families held during the August school holidays. This grant also enabled the development of 8 two-week programme of workshops for primary schools I'The Surprisingly Adventurous Rhododendron'l held in June 2019. The Garcia Family Foundation had agreèd second grant lo support the 'Think and Make, workshops for children and families held at CAST during August school holidays in 2019. As a result of this successful engagement with the Garcia Family Foundation, Teresa Gleadowe had met with a representative of the Foundation, who invited CAST lo apply for ongoing support. An application was prepared and submitted in November 2019 and on 10 January 2020 CAST had received an email confirming that the Foundation had agreed to Support CAST wth a grant of £50,000 per year for the next three years. The first grant had been received on 7 February 2020. A full port on the first year's activities had beèn prepad and sent to the Foundation on 1 December 2020. The second grant of £50,000 was ceiVed on 23 February 2021.
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 In 2020 CAST had been awarded an Emergency Response Grant of £28,170 from Arts Council England. A report had been submitted by the end of the year and the last 100k of this granl1£2,8171 was received in January 2021. During the early months of 2021 Teresa Gleadowe and Cal Bagg also worked on a Proje¢l Grant application to Arts Council England for a wide range of 'talent development, projecis, inclLJding continuing support for a new Saturday art dub that had been launched in May 2021, and a range of other work with young people and ¥Mth artists. TD develop this application Teresa Gleadowe corresponded wth Elizabeth Price about plans for the sixth Cornwall Workshop, lo be held al Kestle Barton in March 2022, and discussed wth Mark Leckey the possibility of developing a Film & Video Lab in Cornwall in the summer of 2022 (this conversation had started in the context of an unsuccessful application for project funding from Outset Partners, submitted in February 20211. The Arts Council Project Grant application was submitted in June 2022 and news that a grant of £49,999 had been awarded was received in September. The first tranche of the grant, £25,000, was paid in November 2021. Lockdown grants totaling £17,431 were received from Cornwall Council in the period February to April 2021. During the lockdown period CAST also prepared and submitted a number of small grant applications for a weekend event enlilled 'Water and Stone,, lo be held at CAST In September 2021 applications to Cllr Mike Thomas and Cllr Guy Foreman for Cornwall Council Community Chest contributions and to the Curry Fund for Geology and Cornwall Heritage Tru51. The project was developed in association with the Helslon Makes It programme al the Museum of Cornish Life directed by Jude Carroll, who also submitted applications lo Helslon Town Council and lo FEAST. CAST managed all income and expenditure for the project. In February 2022 CAST also made an application lo Helston Town Council for a grant of £5,000 towards a second iteration of the CAST-Off programme, to be held in the walled garden at National Trust Penrose. This was later supplemented by a grant of £1,000 from Litt Parc Owles Trust and £1,000 from FEAST. Major Renovations In 2020 Trustees had agreed a budget spend of up to £100,000 on external works lo renew roofs on the oldest 118971 part of the building and the pyramid-shaped roof on the middle119051 section. The schedule of work had also included replacement and renovation of windows at the wesl Icafél end of building and lime pointing at the rear of the building. This work, undertaken by Jason Tripconey and Adam Jackson, continued into the early months of 2021, taking advantage of the OPPDrtunity to undertake disruptive external work while asS to the building was reduced because of the pandemic. Continuation of the building project into the early months of 2021 involved an additional spend of c.£30,000, bringing the total capital spend on this project over years lo c.£128,000. New signs, commissioned for the back of the building and for the entran to the Wendron Street car park and the bottom of Penrose Road, were in place by April, when the Café was able lo re-open for outdoor servi. Ceramlc Studlo Project ICLLDI During the first Coronavirus lockdown, in May 2020, CAST had received news of an opportunity lo aR)ly for a grant from the European Regional Development Fund IERDFI through the Community Led Local Development scheme ICLLDI administered by Cornwall Development Company ICDCI. In June 2020 Teresa Gleadowe had submitted an Expression of Interest to West Cornwall Local Action Group for a grant to transform an unused studio space in the CAST building into a ramIC studio. The scheme also included renovation of a small rear extension lo provide a wet room and WC. The Expression of Interest had been supported by the LAG and a full application had been submitted on 6 November 2020.
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 Many further enquiries were raised by CDC after the application had been submitted, but the applit2tion was finally presented to the Local Action Group on 17 May 2021 and a fomial letter was received by email on 25 May 2021, offering a grant of £50,315.45 against a total expendvcure budget of £71,879.21, the shortfall to be covered by CAST. The project description was.. 'CAST Ceramics Studio.. A prDject to convert currently unused spaces within the CAST building in central Helston into a facility that will accommodate a ceramics studio for a range of professional, community and learning activities'.The delivery timescale was specified as 11612021 to 301612022, but in practice f( was not possible lo start work on the project until the end of July 2021, as Adam Jackson and Jason Tripconey, the builders appointed to do the work, were engaged on another project and unable lo start Immedialely.There were also supply chain difficulties caused by the pandemic, and the cost of materials rose steeply as a result of Brexit, so that it proved impossible to match prices quoted in the autumn of 2020 when the application was being prepared. However, the first part of the project Irenovalion of the rear exlensionl was completed on schedule and the first claim for reimbursement was submitted lo CDC in November 2021. The first grant payment of £13,504 89 was received on 23 December 2021. A variation was agreed by CDC extending the end date of the project to 31 December 2022. Programmes The year started with the re-inlroduclion of lockdown. CAST was closed to the public during January, February, March and April, but artists were able to come into the building lo work in their studios. as was the case during previous lockdowns, and exterior renovation and roofing work continued Isee above). The Café opened for outdoor service on Tuesday 13 April. Public Programme CAST'S public programme resumed on Tuesday 18 May, with day-time screenings of the film 'Green School Memories,, presented on a loop in the black box screening space from 18 to 29 May, encouraging visits by former 'Green School, pupils and teachers. This proved to be a good way for CAST lo r&open It5 doors to the public, starting with a local audience. On 27 and 28 May the Porthleven-based filmmaker Sky Neal introduced evening screenings of her documentary film 'Even When l Fall,, preceded by CAST Café supper. Both evenings attracted good audiences, although numbers were limited because of continuing Covid reslriclions. From 8 June lo 10 July CAST presented a looped presentation of Huw Wahl's film 'The Republics,, about the poet Stephen Watt, rith a talk and Q&A on 10 June at which Huw introduced his next project, a film about sailing without auxiliary power. AlthoLJgh slow and contemplative in character, 'The Republics, was greatly admired by Some CAST regulars, including Jules Lews, who wrote about it in his blog.. htt ules-lewis.blo 2021 07 the-re ublic5.html?m-1 'Saw Huw Wahls T17e al C-A-S-T today. Having just bgen given the all-clear from self-isolating, il was a guNlly pleasure to slip away and enjoy this unique film. Llnf&mNliar with Stephen Watts's poetry, I dn¥ really know what lo expect, bul most films featured by GA-S-T are well worth a look, and this was no exception.. What realty struck me is Waltss ability to obseNe, caplured over and over again by Wahl. There are scenes Whe Walts sits watching a dance, or is seemingly lost obseNing a goat and its kids gambol amund an Italian villasE. Pert3aps a key lo poetry is to be able lo Injly look at the wortd aUnd you...Really cOMMend this beautiful film., Two furtherArtist's Choice events took place before the summer break.. on 17 and 18 June CAST studio holder Nina Royle introduced Wong Kar Wai's classic film 'ln the Mood for Love. and on 15 and 18 July musician and composer Graham Fitkin presented Godfrey Reggio and Ron Fricke's experimental film 'Koyaanisqalsi'. The screenings attracted capacity audiences, including many who had not previously visited CAST. The programme of short films 'Women of Comish Music,, presented by the Hypatia Trust on 30 and 31 July, also brought many new people lo the building. During August the screening programme again drew on CAST'S own resources, with a looped presentation of Manon de Boer's film 'Bella, Maia and Nick,, commissioned for Groundwork in 2018. The autumn season of Artist's Choice screenings started in September, wth most films shown on two successive evenings lo oplimise audiences, while providing for social distancing. The first film of the season 'Bonfire', the debut featu of YakutlRussian filmmaker Dmitrii Davydov. had been chosen by Kale de Pury, Falmouth University lecturer and former Associated Press Moscow Bureau Chief, and was scheduled lo be shown on 20 November 2020, bul cancelled when a lockdown was introdLJ¢ed. Kate de Pury had since left Falmouth lo lake up a new post in Moscow, but retumed to Corrmall to Introdu the film on 3 September 2021.
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 The 'Waler and Stone, event, organised by CAST in association with Helslon Makes11, look place over the weekend of 24 10 26 September. There was an enlhusiaslic response lo all parts of the programme, which explored the geological sources of Helslon's exceptionally fine granite buildings and pavements, and the relationship between geology and industry that is evident in the town's network of kennels and opes, through guided walks, masonry demonstrations and pigment-making workshops, as well as talks and presentations in CAST'S black box screening space. Speakers included urban geologist Ruth Siddall, sculptor and granite enthusiast David Paton, geologist Beth Simons and architectural conservation expert Nick Collins, as well as artist Richard Wentworth, who visited from London. Helslon Town Band generously agreed that stonemason Jamie Pharoah could use their lale-nineleenlh- century building on Church Street lo give demonslralions of masonry techniques. The talk5 were recorded and posted on CAST'S YouTube channel.. On 9 October CAST hosted a very successful event, 'Red River, Listening lo a Polluted River,, which was independently organised by Cat Bagg of Field Notes and led by poet Dr John Wedgwood Clarke of the University of Exeter as part of a research project funded by the Arts and Humanities Research Council through their Leadership Fellowship scheme. The weekend started with an Artist's Choice screening of Andrei Tarkovsky's classic film 'Stalker' chosen and selected by John Wedgwood Clarke. CAST also worked off-site, contributing to the Bangers & Mash-up festival held at United Downs Raceway near St Day on the weekend of 15 to 17 October (the festival had been planned to take place in July 2020, but was cancelled because of the pandemic). London-based fashion designerslartisls Harry Evans and Robert George Sanders constructed costumes and sculptures using found materials collected by the festival organisers George and Owen Braines from recycling cenlres in Cornwall. This Intervention built on the visit by Robert George Sanders in January 2020 (when he gave a talk al Falmouth School of Art and conducted a workshop with Falmouth students al CASTI. 11 was funded from the festival budget, as was 'Transformalion Station, a programme organised by members of CAST'S learning team, offering free creative making sessions for children and young people. Students from Falmouth University were involved in both aspects of the project. From 2 November to 23 December CAST was privileged to present a looped screening of John AkDmfrah's feature- length documentary film 'The Stuart Hall Project,, a portrait of the influential Jamaican-bom intellectual Stuart Hall 11932 20141. This presentation was arranged diredy with Akomfrah's production company, Smoking Dogs Films. The film was greatly admired for Its rhapsodic approach to the editing of archival material and ils Miles Davies sound track, and the presentation was extended for a second month lo enable more people lo see It. A Special evening screening was held on 16 December, wth an introduction by Caroline Deeds. Lecturer in Factual Television and Documentary at Falmouth University, who first mel Akomfrah as a visiting tutor when she was studying al the National Film and Television School. The programme for the end of the year also included Artist's Choice screenings introduced by artist Lucy Stein (the 1966 film 'Daisies' by Czech director Vera Chyiilova shown on 11 and 12 November) and by artist, musiaan and music producer Liam Jolly (cult music documentary'Digl' shown on 25 and 26 November). Introductions by Lucy Stein, Liam Jolly and Caroline Deeds have all been published on the CAST websf(e'. tt s".Ilc-a-s-t.or .ukldaisies-Inlroduction-b -luc tt s."Ilc-a-5-1.0 .uklliam- -i-inlroduclion-lo
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 Learnlng Programme Work with primary schools was again disrupted by the pandemic, but relationships with local schools continued lo grow. In the early part of the year, while government restriclions prevented CAST from welcoming sctrmls to the building, CAST'S learning specialist, Lucy Grant, provided a series of outdoor sessions for local primary schools, drawing on the experience of CAST-Off. Sessions took place in the grounds and environs Df each school, with activities designed to develop creative learning and engagement through observation, drawing and making. The second CAST-Off programme of free summer activities for children and families was held in the walled garden al Penrose on Tuesdays and Saturdays, 3 10 28 August 2021. The first CAST-Off programme, held in August 2020, had undoubtedly slrenglhened relationships with primary schools, and Lucy Grant's work with the schools in tum led to a much wider range of participants in CAST'S holiday activities for children and families. CAST'S relationship with the National Trust grew strongly as a result of holding CAST-Off activities in the walled garden in Penrose. The programme for 2021 also included a second iteration of Ben's Den, this time occupying a small wood cn the edge of Helston, close to the Buthrk housing estate. In October 2021 11 was possible to welcome schools back into the CAST building for a programme of 'Art Labs, on the theme of colour. Hosted in CAST'S learning studio and black box screening space, 'Chromaco ia. I'chroma, meaning colour, 'copia' meaning plenty) introduced the science behind colour perception, the role colour plays in nature and the value and power of colour in communication and art throughout lime. In May 2021, with support from the Garcia Family Foundation, CAST launched a Saturday Club, offering a series of creative workshop sessions for 12- to 1 &year olds. A six-week pilot programme started on 22 May and ran in June and July, with a break for half-term. After this successful and well attended launch, Saturday Club sessions resumed in September and a bid for funding lo continue into 2022 was included in the Project Grant application submitted to Arts Counul England in June 2021. CAST Studlos All studio numbers were changed in January 2021. 10 introduce a more rational numbering system throughout the building. Cornwall Council and the Valuation Office were informed of these changes. The following notes follow the new numbering. Two Falmouth graduates, Amy Morgan and Elizabeth Langley, had moved into the attic studio in June 2020, with support from Cullivalor. Mikey Croft had moved into Studio 20, also supported by Cultivator. Vvhen the Cuytivalor residencies came lo an end, Amy, Elizabeth and Mikey all wished 10 stay on at CAST, tsking responsibilty for their own rent. CAST sought a third artist to share the attic space and Nathan Henlon moved into the attic studio on 1 July 2021. There were a number of changes in studio tenancies during the year.. Bronwen Buckeridge moved from Studio 15 into Studio 14 on 1 April 2021, paying a discounted rent of £150 on the undersianding Ihat she was waiting for a smaller studio to become available. Rachel Seely had moved into Studio 17 in September 2020 but moved out on 23 January 2021. Josh Vyvyan moved Into Studio 17 on 24 January. Mike Hoggett moved out of Studio 5 at the end of March 2021 and Georgia Gendall moved into this studio on 1 April 2021. Tom Sewell moved into Georgia's old studio (Studio 191 on 1 April 2021. Demand for studios remained strong, especially for the smaller spaces. The creation of small sludK)s in the former toilet block, combined with the creation of a shared studio in the attic Istudio 101. has attracted a number of younger artists to CAST, which is seen by Trustees as a very positive development. CAST requires artists with studios in the building lo hold an Open Studios weekend each year. The pandemic made il impossible to hold such an event in 2021, as had been the case In 2020.
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 Partnershlps CAST'S relationships with other organisations in Cornwall had grown strongly as a result of the Groundwork project. These relationships had been maintained during 2020, despite the difficulties imposed by the pandemic, and CAST made efforts to ensure that initiatives by partner organisations were supported in CAST'S monthly e-newsletter. This continued throughout 2021, with a seth'on Df the newsletter headed 'You MightAlso Like, providing news of activities and events elsewhere. Readership of the newsletter grew strongly during 2021, as did CAST'S followng on social media. CAST continued to maintain a good relationship with the Museum of Cornish Lrfe and developed the 'Waler and Stone, event in partnership with Helslon Makes It. 'Water and Stone, also led to an ongoing relationship with the Curry Fund for Geology, which supported the 'Waler and Stone, event and has subsequently agreed a grant lo support publication of a forthcoming illuslrated bo0et written by Ruth Siddall, introducing the geological sources of some of Helston's landmark buildings. Nicola Bealing's visit lo Centro de Arte de San Agustin Icasal near Oaxaca in Mexico in Februarylmarch 2020 had laid the foundations for a future residency exchange between CAST and Casa. The pandemic made il impossible to continue developing this exchange, bul fund5 to support a residency by a Mexican artist at CAST had been secured from Art Fund and contact was maintained with Laureana Toledo and Casa. Teresa Gleadowe had joined Helslon CIC IHCICI in July 2020. Her involvement wfch the CIC grew during 2021, when Helston made a successful application for a Town Vitality Fund grant of £100k and work began to develop a number of projects in preparation for an application to the government's Levelling Up Fund, adminisiered by Cornwall Council. She was especially engaged in discussion of the Helslon Cultural Quarter project and provided feedback on other aspects of the overall scheme. In April 2021 she joined the neY formed Place Shaping Board. Her involvement wlh the work of both the HCIC and the Place Shaping Board grew throughout the year. In December 2020 Teresa Gleadowe and Malcolm Oliver, also a member of HCIC. had held a focus group meeting al CAST to invite the views of younger Helston residents on what the town needed in terms of activities and resources for young people and for people in their twenties and thirties. These conversations continued on Zoom during lockdown in early 2021. They prodUd a number of ideas. including a proposal for a series of contemporary dan workshops for young people, to be led by Rambert School graduate and Helston resident Sapphire Sumpler. A small budget to realise this proposal was included in the Project Grant applicab'on submitted lo Arts Council England in June 2021. CAST has a strong relationship wf(h Falmouth University and especially with Falmouth School of Art. Because of the pandemic, the School of Art was not able to hold sludenl residencies al CAST during the summer of 2021 as originally envisaged, but the university honoured its commitment of £1,000 and il was agreed that CAST would provide work experience for Falmouth students through involvement with the CAST-Off programme and with the Saturday Club led by Kate Turner. Students from Falmouth also participated in a workshop led by artistslfashion designers Robert George Sanders and Harry Evans at Ihe Bangers & Mash-up Festival in October. Teresa Gleadowe had been a member of the University of Exeter's Arts Commissioning Advisory Group since 2019 and the relationship with University of Exeter developed further through CAST'S involvement with the Red River project led by John Wedgewood Clarke. During September 2021 CAST hosted successful residencies for students from Dartington's MAArts and Place. This was a new partnership, developed in 2020. In November 2021 Teresa Gleadowe was approached, ¥Mth Anne Barfow, Director of Tate St Ives, James Green, Director of Newlyn Art Gallery & The Exchange and Libby Buckley, Director of the Leach Pottery, to contribute ideas for Cornwall's bid for City of Culture 2025. Ideas were discussed on Zoom for submission to Julie Caplin Grey of Hall for Comwall in January 2022.
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 CAST Café At their meeting in November 2019, CAST Trustees had agreed that CAST Café should be granted a rent holiday from 1 November 2019 to the end of April 2021, to enable it to weather very difficult trading conditions. This agreement was reviewed at a meeting of CAST Trustees in May 2021. Like most other hospitality businesses, CAST Café had suffered serious difficulb'es as a result of Covid-19 and Trustees agreed that the rent holiday should continue. Dominic Bailey had left Comwall in April 2021 to live in Mallorca and w85 now managing the Cafè remotely. Mikey Croft was employed as front of house manager, assisted by Amy Morgan. Awen McBride continued as chef, working two lo three days a week and Mollie Goldslrom had joined the team as second chef. Dominic Bailey continued lo manage the business, advise on menus and sel stsff rolas and was available lo talk lo Café staff on a daily basis. The transition to a remote management arrangement had been described by Café customers as'seamless, and had not had any negative impact on the Cafè's trading performance. Trustees agreed unanimously that the Café's value lo CAST'S public profile greatly exceeded that of any rent received. The Café serves a crucial function as CAST'S public interface and 'fronl door, and conlribules very subslanlially to the life of the organisation, projecting CAST'S emphasis on excellence and welcome through the Café's food offer and approach lo hospitslity. Trustees asked that the Café should be prepared lo share figures on an 'open book, basis. Options would be reviewed again when trading figures were available for the year to Dember 2021. It was agreed that Café staff would take on responsibility for undertaking monthly fire alarm tests and for visual checks of corridors and exits, cleaning toilets and keeping the public areas of the building clean and b'dy, as well as organising annual checks of fire extinguishers. Impact of Covid-19 pandemic Almost all CAST studio holders had been supported by the Small Business Rates Relief scheme introduced at the start of the pandemic and artists were able lo continue working in their studios. so CAST did not suffer loss of rental income as a result of the pandemic. There was loss of income from short-term hires, awaydays and symposia, but losses were compensated by government grants and by the Emergency Response Grant from Arts Council England received in 2020. Following the pandemic and Brexit, a steep rise in the cost of materials added subslanlially to the cost of the ramIC studio project. The pandemic also involved loss of enjoyment of the building for CAST'S public aclivilies, and loss of conlinuily in programming. It imposed subslanlial demands on staff as they adapted to unpredictable and rapidly changing ¢ondilions.11 also affected audiences and disrupted CAST'S work with children and young people. Financial review The level of reserves in the unrestricted fund as at 31 December 2021, tolalled £518,739 {including the value of tsngible fixed assets of £460,465), of which £71,779 was freely available for use by the charity. CAST'S activities continue to be dependent on fundraising and on income generated from studio rents. During this period CAST'S 10181 income was £177,97512020". £145,339), comprising £52,04412020." £48,796) in rent and room hire, £119,421 12020". £96,143) in donations and grants, and £6,51012020." £4001 in other income. CAST allracted grants and donations towards ils charitable activities detsils of which are shown in note 3 to the financial statements. The policy on the level of reserves is that they should provide al least three months cover for core operating Costs. This level of resetves has been maintained throughout the year.
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 Rlsk management The trustees have a duly lo identify and review the risks lo which the charity is exposed and lo ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have reviewed the major risks to which the charity is exposed, in particular those related lo the operations of finances of the Trust, and they are satisfied that systems are in place lo miligale exposure to the major risks. This policy is ongoing and risk management is considered as part of the decision-making process. Plans for future periods Vvhile CAST'S overheads and the costs of some ongoing maintenance can be met from studio rents. Trustees acknowledge that CAST'S public programme will continue to require support from public funding bodies, trusts and foundations, and that future programming will depend on effective fund-raising. CAST Trustees agree that il Is Important for CAST lo continue to deliver a programme of public events, talks, workshops and screenings, for which there is proven nèed and demand. High priority is also given lo work with schools, children and young people, with plans for a Continuation of workshops for schools, of the &turday art club and of other projects with young people. Funding from Garcia Family Foundation will be managed carefully during 2022 and supplemented with other grants wherever possible, to ensure that leaming and public programmes Can continue during 2023. New sour$ of funding will be needed now that the Ihree-year funding agreement with Garcia has come to an end. In May 2022 an application was submitted to Arts Council to make the case for CAST lo become a National Portfolio Organisalion. The result of this application is expected in October 2022 and would relate to the penod from April 2023 to March 2025. CAST has also applied for funding from Cornwall Council and is currently negolialing Key Performance Indicators for an annual grant of £10,000 for four years, 2022 10 2025. An application has been made to Helston Town Council for CAST lo receive ongoing annual funding of £2,500, equaling Helston Town Council's annual funding for the Museum of Cornish Life. Even if all these applications are successful, CAST will need lo find money from other sources lo provide match for the budget submitted with the NPO bid. Teresa Gleadowe and her colleague Cat Bagg will explore opportunities for support from the Shared Prosperity Fund as well as seeking lo make applications to trusts and foundations. structure. governance and management The charity is a company limited by guarantee and is controlled by ils governing document, the articles of association las amendedl. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were.. Ms TRS Gleadowe Mr CJ Hibbert Mrs KS Townshend MrAG Cameron Mr PR Williams Mr JA Wlkin Inductlon and tralnlng of new Irusleg$ All new trustees are required to familiarise themselves with the charity and its aims and responsibilities and are given guidan and support by existing trustees. None of the trustees has any beneficial interest in the company. Al of the ttuslees are members of the company and guarantee lo contribute £1 in the event of a winding up.
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 Oryanlsatlonal structure The charity is managed by the board of trustees. who meet on a regular basis. Trustees are.. Teresa Gleadowe (Chairl, Chris Hibbert Ivice Chairl, Alastair Cameron. Karen Townshend, Ross Williams and John Wilkin Icompany Secretsryl. The trustees consider that Teresa Gleadowe is the key management personnel of the charity. Chris Hibbert was appDinled Vice Chair of CAST al the meeting ofTruslees on 13 December 2016. Since 2019 Teresa Gleadowe has worked with a small band of part-lime freelancers who provide support for the public programme and learning aclivilies. Cal Bagg was engaged a5 Progamme Coordinator in July 2019 and works two to three days per week. Lucy Grant is CAST'S learning specialist, assisted by Kale Tumer. CAST engages freelancers to cover work on social media and to provide book keeping. The trustees, report was approved by the Board of Trustees. Ms TRS Gleadowe Trustee 21 September 2022 10-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CORNUBIAN ARTSAND SCIENCE TRUST I report lo the trustees on my examination of the financial statements of The Comubian Arts and Science Trust (the charilyl for the year ended 31 December 2021. Responsibilities and basis of report As the trustees of the charty land also ils directors for the purposes of company lawl you are responsible for the preparation of the finanaal statements in accordance with the requirements of the Companies Ad 20C6 (the 2006 Acll. Having satisfied myseV that the financial statements of the charity 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 examinatlon of the charity's financial statements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Actl. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs ststement 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 that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial slalements do not accord with those records," or the financial statements do not comply with the accounting reqLJirements 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 the financial slalements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounting and reporting by Charities applicable lo charities preparing their accounts in aordanCe wth the Financial Reporting Standard applicable in the UK aThJ Republic of Ireland IFRS 1021. I have no concems and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the financial slalements lo be reached. Mark Wllllams FCA DChA RRL LLP Peat House Newham Road TRURO Cornwall TR12DP Dated.. 22 September 2022
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestrlcted Restrlcted funds funds 2021 2021 Total Unrestrfcted Restrlcted funds funds 2020 2020 Total 2021 2020 Notes ncome from. Donations and legacies Charitable activities 31,104 58,554 88,317 119,421 58,554 12,000 48,796 84.143 400 96,143 49,196 Totsl Income 89.658 88,317 177,975 60,796 84.543 145,339 Charitable activities 44,483 65,089 109,572 53,320 44,531 97,851 Net income for the yearl Net movement in funds 45,175 23,228 68,403 7,476 40,012 47,488 Fund balances al 1 January 2021 473,564 624,056 1,097,620 466,088 584,044 1,050,132 Fund balances at 31 December 2021 518,739 647,284 1,166,023 473,564 624,056 1,097,620 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The statement of financial activities also complies with the reqU1MentS for an income and expenditure account under the Companies Act 2006. 12-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Notss Flxgd assets Tangible assets Current assets Debtors Cash at bank and in hand 1,020,096 980,333 1,008 120,200 148,933 149,777 121,208 Credltots: amounts falllng due wlthln one year 10 13,8501 13,9211 Net current assets 145,927 117,287 Totsl assets less current liabilities 1,166,023 1,097,620 Ineome funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 11 647,284 624,056 12 30,000 488.739 30,000 443,564 518,739 473,564 1,166,023 1,097,620 The ¢ompany is entitled lo the exemption from the audit requirement contained in se¢tion 477 of the Companies Act 2006, for the year ended 31 Dember 2021. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the A¢t and for preparing financial stslemenls which give a true and fair view of the stsle of affairs of the company as at the end of the financial year and of its incoming resoLJrces and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which othernlSe comply with the requirements of the Companies Act 2006 relating lo financial statements, so far as applicable lo the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial slalements have been prepared in accordan with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 21 September 2022 Ms TRS Gleadowe Trustee Company Registration No. 08175764 13-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcles Charity infomiation The Cornubian Arts and Science Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Penrose Road, HELSTON. Comwall. TR13 8TP. 1.1 Accounllng conventlon The financial statements have been prepared in accordance with the charity's Igoverning documenll, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practi applicable lo chaiilies preparing their accounts In accordance with the Finanaal Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191" The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP not lo prepare a Slalement of Cash Flows. The financial stslemenls are prepared in slerfing, which is the functional currency of the charity. Monetary amounts in these financial ststemenls are rounded to the nearest £. The financial slalem&nts have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted ftjnds are available for use at the discretion of the trustees in furtherance of their Charitable objectives. Reslricled funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial slatemenls. Endowment funds are subjert to specific ¢ondilions by donors that the Capitsl musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to f( after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on reipl. Other donations are recognised once the charity has been notified of the donation, unless performance condrtions require deferral of the amount. Income lax recoverable in relatson to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwse if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is Irealed as a contingent asset. Tumover is measured al the fair value of the consideration received or re1vable and represents amounts receivable for goods and services provided In the normal course of business, nel of discounts, VAT and other sales related taxes. 14-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounllng poll¢lg$ Icontlnugdl 1.$ Expanditurg Expenditure is recognised once there is a legal or constructive obligation to rnake a payment to a third party, il is probable that selllemenl wll be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed lo particular headings they have been allocated lo activities on a basis consislenl with the use of resources. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impaimient losses. Depreaation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold buildings Plant and equipment 20/0 on cost 25Yo on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the slalement of financial activities. 1.7 Impalrment of flxed assets At each reporting end dale, the charity reviews the carrying amounts of its tangible assets lo determine whether there is any Indication that those assets have suffered an impairment loss. If any such Indication exists, the recoverable amount of the asset is eslimaled in order lo determine the extent of the impairment loss lif any). 1.8 Cash and cash equival8nts Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdiafts are shown thin borrowings in cutrenl Iiabililies. 1.9 Financial instruments The charty has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, wrth the net arnounls presented In the financial slatemenls, when there Is a legally enforceable right lo set off the recognised amounts and there is an intention lo settle on a net basis or lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balans, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as re1vable within one year are not amortised. 15-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounllng poll¢lg$ Icontlnugdl Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslilules a financing Iransaclion, wher& the debt instrument is measured al the prèsent value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable wthin one year are not amortised. Debt instruments are subsequenuy Carried al amortised cost. using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction pricè and subsequenuy measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Crltlcal accountlng estlmatss and Judgements In the application of the ¢harily's aecounling policies, the Iruslees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not 8llY apparent from other Sour$. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. 16-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Donatlons and legacles Unrestricted Restricted funds funds Total 2021 Total 2020 Donations and ghls Grants 168 30.936 188 119,253 40 96,103 88,317 31.104 88,317 119,421 96,143 For the year ended 31 December 2020 12,000 84,143 96,143 Donatlons and glfts Other 168 168 40 168 168 40 Grants receivable Helslon Makes11 Helston Town Council Arts Council England- Emergency Response FEAST Cornwall Heritage Trust Cornwall Council CLLD Garcia Family Foundation National Art Collections Fund Downsland Helston Trust Other 1,500 5,000 27,817 1,000 500 1,000 1,500 5,000 27,817 1,000 500 18,431 13,505 50,000 25,353 1,900 500 10,000 17,431 13.505 50,000 50,000 5,850 2,000 500 1,500 1,500 30,936 88,317 119,253 96,103 Included in other grants receivable is as follows.. - £500 The Curry Fund £1,000 Little Parc Owles Trust Cornwall Coun¢il - local reslriclions support grants were issued to help businesses during the national lockdown and COVID-19 outbreak, these totalled £17,431 12020.. £10,000). An additional Cornwall Council grant has been received for £1,00012020'. £Nil}, relating lo the Community Chest Scheme. 17-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Charltable actlvltles Total 2021 Total 2020 Charf(able rental income Olhei income 52,044 6,510 48,796 400 58,554 49,196 Analysis by fund Unreslricled funds Restricted funds 58,554 48,796 400 Charitable activitiès Unrestrfcted Restrlcted Fund Fund 2021 2020 Public programme Groundwork Learning Residency Exchange 18,771 18,771 6,885 418 23,747 1,500 34,337 34,337 53,108 53,108 32,550 Share of support costs (see note 61 Share of governance costs Isee note 81 42,143 2,340 11,981 54,124 2,340 62,501 2,800 44,483 65,089 109,572 97,851 For the year ended 31 December 2020 Unrestricted funds Restricted funds 53,320 44,531 97,851 18-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Support costs Support Governance costs costs 2021 Support costs Governance costs 2020 Depreciation Rates and water Insurance Light and heal Sundries Staff recruitment, travel and subsislen Freelance fees Marketing and website expenses Office fumiture & repairs Telephone and broadband Expenses recharged to projects 36,417 912 3,455 8,536 2,885 36,417 912 3,455 8,536 2,885 34,696 1,481 2,829 10,220 2,431 34,696 1,481 2,829 10,220 2,431 220 16,210 220 16,210 276 14,365 276 14,365 2,137 311 2,137 311 795 1,396 795 1,396 664 664 672 672 117,6231 117,6231 16,6601 16,6601 Accountancy Legal and professional 2,100 240 2,100 240 2,560 240 2,560 240 54,124 2,340 56,464 62,501 2,800 65,301 Analysed between Charitable activities 54,124 2,340 56,464 62.501 2.800 65,301 Employees The average monthly number of employees during the year was.. 2021 Number 2020 Number Total 19-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Tanglble fixed assets Freehold buildings Plant and equipment Totsl Cost Al 1 January 2021 Additions 968,803 75,320 89,429 860 1,058,232 76,180 Al 31 December 2021 1,044,123 90,289 1,134,412 Depreclatlon and Impalment Al 1 January 2021 Depreciation charged in the year 31,753 16,382 46,146 20,035 77,899 36,417 Al 31 December 2021 48,135 66,181 114,316 Carrying amount Al 31 December 2021 995,988 24,108 1,020,096 Al 31 December 2020 937,050 43,283 980,333 Debtors 2021 2020 Amounts falling due within one year- Trade debtors Prepayments and accrued income 278 566 243 765 844 1,008 10 Credltors: amounts falllng due wlthln one year 2021 2020 Trade creditors Accruals and deferred income 1,821 2,100 3,850 3,850 3,921 -20-
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 11 Restrlcted funds The income funds of the charity include reslricled funds comprising the following unexpended balan$ of donations and grants held on trust for specific purposes". Movement in funds Incorning Resourre5 BalanGe at re50urGes expended1 January 2021 Movement in funds Incoming ResourGes Balan¢e at resource5 expended 31 December 2021 Balance at 1 January 2020 Public Programme Residency Exchange Groundwork Project Capital Learning 33 25,753 16,8841 18,902 31,317 118,7711 31,448 5,850 11,5001 4,350 4,350 418 583,593 14181 111,9811 123,7481 571,612 29,192 111,9811 134,3371 559,631 51,855 52,940 57,000 584,044 84,543 144,5311 624,056 88.317 165,0891 647.284 Public Programme CAST'S public programme includes screenings, talks, concerts, readings, workshops and informal residencies, serving an area of Cotnwall that ha5 previously had litde access to innovative contemporary arts activity. The programme allracts support from local and national funding bodie5 and many events and activities are free. Resldency Exchange The National Art Collections Fund supports a residency exchange between CAST and Casa in Oaxaca, Mexico. The first part of the exchange was complete, with a visit by artist Nicola Bealing to Oaxaca, but Ihe exchange was interrupted by CDvid-19 and the remaining grant has been retained to host an exchange lS11 for an artist from Mexico when this becomes possible. Groundyrk Project Groundwork was a project bringing outstanding intemalional art and artists lo Cornwall. Rooted in contemporary art, the project also involved working with science, music, performance, film and dance organisations. locally and nationally. This project has now ended. Capital CAST has received capital grants for the refurbishment of the propety that was transferred to the charity in January 2017. Learning CAST'S learning activities for children and families are currendy supported by a grant from the Garcia Family Foundation. This grant indudes a contribution towards general adminislralion costs and overheads. 21
THE CORNUBIAN ARTS AND SCIENCE TRUST RRL" NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 12 Deslgnated funds The Income funds of the chaiily include the following designated funds which have been sel aside out of unrestricted funds by the Iruslees for specific purposes". Movement in funds InGoming BalanGe at resources 31 DeCemr 2021 BalanGe at 1 January 2020 Transfers BalanGe al 1 January 2021 Refurbishment of the Property 70,000 {40,0001 30,000 30,000 70,000 140,0001 30,000 30,000 13 Analysis of net assets between funds Unrestrlcted Restrlcted fund fund 2021 2021 Total Unrestricted ftjnd 2020 Restricted fund 2020 Total 2021 2020 Fund balances at 31 December 2021 are represented by". Tangible assets Current assetsllliabilitiesl 446,960 71.779 573,136 1,020,096 74.148 145.927 408,721 64,843 571,612 52,444 980,333 117,287 518,739 647,284 1.166.023 473.564 624.056 1,097,620 14 Related party transactions During the year payments totalling £Nil12020.. £2361 were made to Ms TRS Gleadowe as re-imbursement for expenses incurred on behalf of the charity. Arts Council England- a charity of which N Serota, husband of T Gleadowe, trustee, is Chair. Income lolalling £27,817 12020. £25,353) relating to Arts Council Grants 1£2.781 representing the final 1 OQ/o of Emergency Response Grant and £25,000 representing the first tranche of Project Grant). -22-