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2021-03-31-accounts

COUNTERPOINTS ARTS

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

COMPANY NUMBER 08062988 CHARITY NUMBER 1150079

COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

Contents Page
Trustees’ report (including reference and
administrative details) 1 – 9
Independent Examiner's Report 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 – 23

COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

The Trustees of Counterpoints Arts are pleased to present their annual report with the financial statements of the charity for the year ended 31 March 2021.

The financial statements are prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles, and the Statement of Recommended Practice – Accounting and Reporting by Charities (FRS 102).

Counterpoints Arts was established in 2012 to bring together and integrate the complimentary work of Partnership for Arts and Refugees (PAR) and Forum on Migration and Communications (FOMACS). Both initiatives (PAR and FOMACS) have recognized track records of developing creative arts and collaborative projects with diverse partners from the arts and advocacy sectors.

In establishing this new organization we have accomplished the following:

Created a working environment which integrates a combination of in house skills including: digital and graphic design, arts curation and architecture, film production and programming, creative writing and research development and education, strategic policy and publishing.

Mission

Our mission is to support, produce and promote the arts by and about migrants and refugees, seeking to ensure that their cultural and artistic contributions are recognised and welcomed within British arts, history and culture.

We do this by developing and commissioning creative projects and approaches to represent the stories and experiences of refugees and migrants through talent development, collaborations with artists, arts/cultural and educational organisations and civil society activists working in the field of migrant and refugee rights.

Vision

Our vision is underpinned by a belief in the dynamic power of the creative arts to inspire social change and enhance inclusion and cultural integration of refugees and migrants.

Counterpoints Arts’ Board of Trustees for the period between the 1 April 2020 and 31 March 2021 included: Chair, Tim Finch (Director, Sponsor Refugees); Donna Covey (Director, Against Violence and Abuse); Tim Catherall (Director of Finance and Operations, Institute of Development Studies), Alice Sachrajda (Freelance Researcher); Reem Charif (Co-Director, Febrik); Naima Khan (Coordinator, Act for Change Fund – Paul Hamlyn Foundation), Malu Ansaldo, (Producer, The Round House).

Objectives and Activities

Counterpoints Arts objects, as per its Memorandum and Articles, are specifically restricted to the following: To further such charitable purposes for the benefit of the public in particular but not limited to:

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COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

the arts, heritage and culture, through education and research (publishing the useful results of which) and by undertaking and promoting social justice advocacy.

The Trustees have had due regard to the guidance issued by the Charity Commission on public benefit when reviewing the charity’s objectives and planning current and future activities.

Achievements and Performance during 2020-2021

Due to Covid-19 restrictions and health and safety considerations, the Counterpoints Arts team continued to work remotely throughout 2020-2021 (and do so on submitting this end-of-year report).

As noted previously Counterpoints Arts devised a Risk and Mitigation strategy (2019-2020), which continues to be implemented. Hence the majority of Counterpoints Arts’ projects have been adapted to online formats, allowing for the delivery of the programme through digital platforms; and in order to sustain partnerships and collaborations with artists, organisations and networks.

Throughout 2020-2021, Counterpoints Arts has, therefore, been working in an altered landscape in which large institutions – many of whom are our partners in the museum, gallery and live art and performance sector – have laid off staff and/or placed teams on furlough with the expectation that they will not operate to full capacity for a foreseeable period of time. Counterpoints Arts has maintained its ties and collaborations with larger, flagship organisations - despite the changed environment.

Many of the individual artists, with whom Counterpoints Arts support and collaborate, have experienced displacement. A good percentage are free-lancers and do not have secure salaries. Counterpoints Arts thus conducted an online survey in July 2020 ( Artists in Lockdown , see below) assessing the needs of the artists in our network with a view to offering immediate support.

We have also (throughout 2020-2021) implemented a series of internal supports for the CA team and key project partners in the context of Covid-19, including a Learning and Training programme that included the following areas: Fundraising, Coaching, Audience Development, Countering Digital Hate, Evaluation, Diversity and Access and Racial and Environmental Justice.

Counterpoints Arts used emergency funds to further facilitate and support regional partners in its network to run their own local training programmes, as specific to their practical priorities in the context of Covid-19 and going forward.

Counterpoints Arts continues to place cross-sector collaboration at the heart of its approach in the strengthening and broadening of alliances with the arts and (popular) culture, migration and racial justice and climate change sectors.

In the context of Covid-19, Counterpoints Arts commissioned a major report titled Our Story and Vision , in conversation with artists, partners and networks offering a critical review and overview of the organisation, enabling collective reflection on past, current and future methodologies/practice.

The activities outlined in this Trustees’ Report reflect the selected outputs and key highlights of our overall organisational goals for the period spanning April 2020 to March 2021.

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COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

For a fuller and more detailed list of all Counterpoints Arts’ activities, outputs and events, please go to the Counterpoints Arts’ website 2020/2021 Archive:

https://counterpointsarts.org.uk/events/?cy=2020 https://counterpointsarts.org.uk/events/?cy=2021

The following highlights focus on the strategic translation and re-direction of Counterpoints Arts activities and events to the digital/online sphere during 2020-2021 - as a result of Covid-19.

Key achievements/outputs include:

Event hosts ranged from Leeds Playhouse to Sunderland City Council, Ellen Hathaway Dance Company to Bradford Cathedral and the Welsh National Opera to WeWork; artists included rapper Lady Leshurr, poet Inua Ellams, For Sama director Waad al Kateab, director Sean McAllister, comedian Nish Kumar and Yarmouk pianist Aeham Ahmed.

See the full range of commissions on a newly designed Refugee Week, here: https://refugeeweek.org.uk/

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COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

Other online platforms 2020-2021:

Other project adaptations and new digital platforms in 2020-2021 include:

4

COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

In the context of COVID - 19 and the changes and restrictions that have come about in the arts and culture sector throughout 2020-2021, Counterpoints Arts has strategically connected and integrated many of its programme strands (as noted above). This has significantly expanded our audience reach. Going forward, Counterpoints Arts plans to continue this programmatic synergy through the blending of strands and the engagement of both online and offline platforms.

Financial Review

Income for the year was £618,801 (2020: £671,543) of which £450,750 (2020: £530,160) was given for restricted purposes. Total expenditure for the period was £513,359 (2020: £533,249). The unrestricted surplus for the year was £58,357 (2020: a deficit of £6,367), and the total surplus for the year was £105,442 (2020: a surplus of £138,294). Unrestricted funds at 31 March 2021 were £162,142 (2020: £103,785) and restricted funds were £294,047 (2020: £246,962). Cash balances at 31 March 2021 were £574,679 (2020: £356,944).

Arrangements for setting pay and remuneration of Key Management Personnel

Key Management Personnel comprised of the Trustees and the senior management team. Trustees are not remunerated in their capacity as a Trustee. The remuneration of the senior management team is determined by the Trustees annually and normally increased in accordance with average earnings, considering sector parameters and benchmarks.

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COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

Reference and Administrative Details

Company number 08062988
Charity number 1150079
Principal and Unit 2.3, 128 Hoxton Street, London N16SH; T:02070121761
Registered office
Bankers The Co-operative Bank
1 Balloon Street
Manchester
M60 4EP
Independent MHA Macintyre Hudson
Examiners Boundary House
4 County Place
Chelmsford
Essex
CM2 0RE
Accountants JS2 Limited
One Crown Square
Woking
Surrey
GU21 6HR

Directors and trustees

The directors of the charitable company (the charity) are its trustees for the purposes of charity law. The trustees, officers and staff serving during the year and since the year end were as follows :

Tim Finch (Chair) Tim Catherall (Treasurer) Donna Covey Alice Sachrajda Reem Charif Naima Khan Malu Ansaldo Almir Koldzic (Secretary)

Structure, Governance and Management

Counterpoints Arts is a company limited by guarantee governed by its Memorandum and Articles of Association dated 9 May 2012 as amended by special resolution on 28 November 2012 and is a registered charity.

6

COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

Trustee recruitment, training and oversight

There can be no less than 3 trustees. New trustees are appointed by the board.

The trustees meet regularly to oversee the charity’s affairs and advise on strategic decisions about the overall direction of the work of the organisation, to monitor finances and contribute towards various aspects of the work of the organisation. There are 6 employees – two full time and four part time.

New trustees have an orientation programme which includes being given papers and briefings on their legal obligations under charity and company law, on the charity’s decision making process and financial performance. Where appropriate, Trustees will be encouraged to attend appropriate external training.

Related parties

None of our Trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or employee of the charity and any individual or organisation which is paid to work with or for the charity must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related third party. In the year under review no such related party transactions were reported.

Risk management

The Trustees review the risks annually, which the charity may face and have been monitoring carefully the most significant risk identified i.e. that of building a firm financial base on which to build the operations of the charity. As agreed by the Board and as the charity grows, a formal bi-annual review process will be implemented to identify other risks and implement procedures to mitigate those risks identified. Some of the additional risks that have emerged are die to Covid-19. As state previously, Counterpoints Arts produced a comprehensive Risk and Mitigation Strategy (20192020) at the onset of the pandemic, much of which will remain relevant for the next operational year and going forward. The general uncertainty facing the sector together with the changing circumstances related to work practices, infrastructures, public engagement and health and wellbeing of the CA team and associated producers has been assessed with a clear mitigation plan in place for implementation.

The principle risks, uncertainties and mitigation strategy for Counterpoints Arts Charity are as follows:

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COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

Reserves policy

The Trustees have reviewed the charity’s need for reserves in line with the guidance issued by the Charity Commission, and are committed to building reserves to increase financial security. We have produced and agreed a detailed Reserves Policy going forward, so as to ensure that Counterpoints Arts ongoing and future activities are protected to a reasonable degree from unexpected short-term variance in income and expenditure.

Risks to consider

Counterpoints Arts is a small charity with a simple organisational structure and this policy has been written by taking into consideration the following types of potential operational and financial risks:

Reserve level

The Board of Trustees for Counterpoints Arts agree that the minimum reserve level is set at £140,000 this being the amount required to ensure the work of the organisation can continue without disruption in adverse circumstances.

The minimum reserve level has been reached by calculating 6 months of CA’s core operating costs, including:

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COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

Decision-making and lead roles by Governance and Staff

Counterpoints Arts will monitor the reserves level on a monthly basis to check that it remains within 10% of the level set within this policy. If the reserves level varies significantly below or above 10%, then the Board of Trustees will be consulted. Any other significant changes to the budget or financial position of the organisation should be reported to the Board of Trustees.

Risk Assessment

This policy will be referred to when carrying out financial risk assessments for CA.

Review of policy

The Counterpoints Arts’ Treasurer in conjunction with any overall organisational changes will review the reserves level set out in this policy annually.

Small Company Exemptions

This report is prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006. As a small company it is eligible for exemption from audit.

Signed on behalf of the Board of Directors and Trustees

Tim Catherall Trustee and Treasurer

24 June 2021

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COUNTERPOINTS ARTS TRUSTEES’ REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2021

Independent Examiner's Report to the Trustees of Counterpoints Arts

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021 which are set out on pages 11 to 23.

Responsibilities and basis of report

As the charity 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 company’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 the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of The Association of Chartered Certified Accountants, 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 that in any material respect:

  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.

Signed: Dated: 30 June 2021

Cara Miller ACCA

MHA MACINTYRE HUDSON

Chartered Accountants Boundary House 4 County Place Chelmsford Essex CM2 0RE

10

COUNTERPOINTS ARTS (COMPANY NUMBER 08062988) STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) for the year ended 31 March 2021

Unrestricted
Funds
Note
2021
Income from:
£
Donations
2
138,251
Charitable activities
2
29,800
Total income
168,051
Expenditure on:
Charitable activities
3
109,694
Total expenditure
109,694
Net income/(expenditure) for the year
and net movement in funds
58,357
Total funds brought forward
103,785
Total funds carried forward
162,142		 Restricted
Funds
2021
£
450,750
-
450,750
403,665
403,665
47,085
246,962
294,047		 Total
2021
£
589,001
29,800
618,801
513,359
513,359
105,442
350,747
456,189		 Total
2020
£
610,160
61,383
671,543
533,249
533,249
138,294
212,453
350,747

All of the above results derive from continuing activities.

There are no recognised gains and losses for the year.

The notes on the following pages form part of these financial statements

11

COUNTERPOINTS ARTS (COMPANY NUMBER 08062988) BALANCE SHEET As at 31 March 2021

2021 2020
Note £ £
Current assets
Debtors 8 3,866 -
Cash at bank and in hand 574,679 356,944
Creditors:Amounts falling due within one year 9 (122,356) (6,197)
Net assets 456,189 350,747
Charity funds
Unrestricted funds 11 162,142 103,785
General funds 159,799 93,305
Designated funds 2,343 10,480
Restricted funds 294,047 246,962
Total Charity funds 11 456,189 350,747

For the year ending 31 March 2021 the company was entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements were approved by the Directors and authorised for issue on 24 June 2021 and signed on their behalf, by:

Tim Catherall Trustee and Treasurer

The notes on the following pages form part of these financial statements

12

COUNTERPOINTS ARTS (COMPANY NUMBER 08062988) STATEMENT OF CASH FLOWS As at 31 March 2021

2021 2021 2020 2020
£ £ £ £
Cash flow from operating activities
Net income / (expenditure) 105,442 138,294
Adjustments for:
(Increase) / decrease in debtors (3,866) -
Increase / (decrease) in creditors 116,159 (98,659)
___ ___
Net cash (used in) / provided by
operating activities		 217,735 39,635
___ ___
Change and cash equivalents in the year 217,735 39,635
___ ___
Cash and cash equivalents at the
beginning of the year		 356,944 317,309
___ ___
Cash and cash equivalents at the end of
the year		 574,679 356,944
___ ___

The notes on the following pages form part of these financial statements

13

COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1.1 General information and statement of compliance

The Charity is a company limited by guarantee (registered number 08062988), which is incorporated and domiciled in England and Wales. The address of the registered office is Unit 2.3, 128 Hoxton Street, London N16SH.

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 (FRS 102) issued on 16 July 2014, 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 Practice as it applies from 1 January 2015.

1.2 Going concern

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. This has been adopted as the Trustees consider the level of funds held and the expected level of income and expenditure for 12 months from authorisation of these financial statements. The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest pound. The Trustees have considered the impact of COVID-19 during this year in their assessment of the going concern.

1.3 Financial instruments

The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows:

Debtors – accrued income is a basic financial instruments and debt instruments measured at amortised cost are as detailed in Note 8. Prepayments are not financial instruments.

Cash at bank – is classified as a basic financial instrument and is measured at face value.

Liabilities – accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 9. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument.

1.4 Funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and have not been designated for other purposes. Restricted funds are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

1.5 Income recognition

All income is 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.

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COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

1.5 Income recognition (continued)

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 income is deferred until those conditions are fully met or the fulfilment of these is within the control of the Charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

The Charity receives government grants in respect of furthering its charitable objectives. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance 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.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.

1.6 Expenditure recognition

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.

Expenditure has been included in the following cost categories: Charitable activity cost is the expenditure for meeting the Charity’s objectives. Such costs include the direct costs of the charitable activities together with an allocation of the support costs that enable these activities to be undertaken.

1.7 Employee Benefits

The Charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

1.8 Debtors and creditors receivable / payable within one year

Debtors are recognised 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.

Creditors are recognised when the Charity has a present legal or constructive obligation resulting from a past event and the settlement is expected to result in an outflow of economic benefits.

1.9 Leases

Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred.

15

COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

2. INCOME FROM

Grants and donations
Arts Council England
Unbound Philanthropy
Tides Foundation
AB Charitable Trust
United Nations
British Future
PRS Foundation
Freedom From Torture
London School of Economics
Open University
Migrant Helpline
Other grants and donations
International Refugee Committee
British Refugee Council
Esmee Fairbairn
Paul Hamlyn Foundation
Welsh Refugee Council
National Education Union
King’s College London
Promote Open Society
Oxfam
British Red Cross
City of Sanctuary
International Organisation for Migration
Refugee Action
Amnesty International UK
Citizens UK
Tate Gallery
Plymouth College
International Comic Relief
Action for Hope
Metropolitan Housing Trust
Total Grants and Donations
Events and consultancy
Total Charitable activities		 Unrestricted
Funds
2021
£
81,472
-
-
-
-
-
-
-
-
-
-
-
-
-
30,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15,000
1,009
10,770
138,251
29,800
29,800		 Restricted
Funds
2021
£
-
90,000
-
-
5,000
1,000
-
3,000
2,750
4,000
20,000
-
1,500
6,000
60,000
59,500
-
10,000
-
-
3,500
10,000
1,000
5,000
1,500
3,000
2,500
7,000
7,000
147,500
-
-
450,750
--
-		 Total
2021

£
81,472
90,000
-
-
5,000
1,000
-
3,000
2,750
4,000
20,000
-
1,500
6,000
90,000
59,977
-
10,000
-
-
3,500
10,000
1,000
5,000
1,500
3,000
2,500
7,000
7,000
162,500
1,009
10,770
589,001
29,800
29,800		 Total
2020
£
103,520
150,000
24,962
15,000
3,500
1,000
4,900
3,000
10,200
42,932
10,000
15,191
1,500
10,536
60,000
40,000
600
10,000
1,500
94,819
7,000
-
-
-
-
-
-
-
-
-
-
-
610,160
61,383
61,383

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COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

2. INCOME FROM (continued)

In 2021, £589,001 (2020: £610,160) was received from grants and donations, £138,251 (2020: £80,000) of which to unrestricted funds and the remaining £450,750 (2020: £530,160) to restricted funds.

£81,472 (2020: £103,520) of government grants were received from Arts Council England to fund Counterpoints Arts charitable activities. There were no other contingencies or unfulfilled conditions relating to this fund.

In 2021 and 2020, all income from charitable activities was to unrestricted funds.

3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Analysis of direct costs
Staff costs
Event costs
Printing and publications
Partner organisations
Other direct costs
Total direct costs
Analysis of support costs
Support staff
Property costs
Office costs
Professional fees
Governance costs – Independent Examiner’s fee
Total support costs
Total costs		 2021
£
279,213
43,845
9,105
-
140,886
473,049
11,171
9,422
4,643
11,923
3,152
40,311
513,359		 2020
£
224,646
119,570
19,170
-
107,688
471,074
12,199
29,246
5,159
12,511
3,060
62,175
533,249

In 2021, there was £513,359 of expenditure, of which £109,694 (2020: £147,750) was spent from unrestricted funds and the remaining £403,665 (2020: £385,499) spent from restricted funds.

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COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

4. NET INCOME FOR THE YEAR

This is stated after charging:

Independent examination fees 2021
£
3,152
____		 2020
£
3,060
____

5. STAFF COSTS AND EMPLOYEE BENEFITS

Number of employees

The average monthly number of employees during the year was:

Employees
Total staff costs and employee benefits were as follows:
Wages and salaries
Social security costs
Defined contribution pension costs		 2021
9
____
2021
£
257,689
20,974
11,721
____
290,384
____		 2020
7
____
2020
£
207,957
18,326
10,561
____
236,844
____

No employee had total annual emoluments greater than £60,000 (2020: nil).

The total employee benefits including pension contributions of the key management personnel were £97,871 (2020: £117,956). Key management personnel is defined as the trustees together with the two codirectors of the Charity (who are not directors for the purposes of Companies Act).

6. DIRECTORS REMUNERATION AND RELATED PARTY TRANSACTIONS

No Trustees (2020: One) received reimbursement for expenses in the year (2020: £224.49) for travel. No Trustees were paid for services in the year (2020: None). There were no related party transactions in the current year. Tim Finch is the chair of Trustees and is a funding director of Sponsor Refugees. During the prior year Sponsor Refugees made a financial contribution of £2,900 to Counterpoints Arts for Refugee week 2020.

18

COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

7. PENSION AND OTHER POST–RETIREMENT BENEFITS

The Charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £11,720 (2020: £10,561). The defined contribution liability allocated to restricted funds is £9,399 (2020: £7,255) and unrestricted funds £2,321 (2020: £3,306).

8. DEBTORS

Prepayments
Other Debtors
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals
Deferred Income
Other Creditors
Opening deferred income
Released in the year
Income deferred in the current year		 2021
£
-
3,866
3,866
2021
£
25,104
96,230
1,022
122,356
-
-
96,230
96,230		 2020
£
-
-
-
2020
£
4,404
-
1,793
6,197
99,172
(99,172)
-
-

Deferred income comprises grants received in the year which relate to activities to be completed in future periods.

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Assets
Liabilities
Net current assets		 Unrestricted
funds
2021
£
284,498
(122,356)
162,142		 Restricted
funds
2021
£
294,047
-
294,047		 Total
2021
£
578,545
(122,356)
456,189

19

COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)

Assets
Liabilities
Net current assets
11. FUND RECONCILIATION
CURRENT YEAR
Restricted funds
Staff and Core Costs Fund
Refugee Week Fund
Learning Lab
Ace Catalyst
Tate
Leadership & Comm
Production
Pop Culture
Arts and Social Change Retreat
International Comic Relief
Total Restricted funds
Unrestricted funds
Learning Lab
Total Designated Funds
Total funds		 Balance at
1 April
2020
£
54,000
8,400
-
11,181
-
16,591
-
149,817
6,973
-
246,962
93,305
10,480
10,480
350,747		 Unrestricted
funds
2020
£
109,982
(6,197)
103,785
Income
£
160,000
73,000
2,750
-
22,500
-
24,000
-
25,000
143,500
450,750
159,324
8,727
8,727
618,801		 Restricted
funds
2020
£
246,962
-
246,962
Expenditure
£
(147,946)
(62,354)
(2,750)
(11,181)
(22,500)
(8,003)
(24,000)
(72,868)
(16,586)
(35,477)
(403,665)
(92,830)
(16,864)
(16,864)
(513,359)		 Total
2020
£
356,944
(6,197)
350,747
Balance at
31 March
2021
£
66,054
19,046
-
-
-
8,588
-
76,949
15,387
108,023
369,047
159,799
2,343
2,343
456,189

20

COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

11. FUND RECONCILIATION (continued)

PRIOR YEAR
Restricted funds
Staff and Core Costs Fund
Refugee Week Fund
Canal Side Fund
Learning Lab
Ace Catalyst
Tate
Leadership & Comm
Production
Pop Culture
Arts and Social Change Retreat
Total Restricted funds
Unrestricted funds
Learning Lab
Refugee Week
Total Designated Funds
Total funds		 Balance at
1 April
2019
£
11,000
10,466
4,502
9,909
4,819
4,191
14,433
4,900
38,081
-
102,301
89,562
9,112
11,478
20,590
212,453		 Income
£
195,000
47,327
-
14,160
23,520
40,472
24,962
4,900
154,819
25,000
530,160
131,798
4,956
4,629
9,585
671,543		 Expenditure
£
(152,000)
(49,393)
(4,502)
(24,069)
(17,158)
(44,663)
(22,804)
(9,800)
(43,083)
(18,027)
(385,499)
(128,055)
(3,588)
(16,107)
(19,695)
(533,249)		 Balance at
31 March
2020
£
54,000
8,400
-
-
11,181
-
16,591
-
149,817
6,973
246,962
93,305
10,480
-
10,480
350,747

21

COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

11. FUND RECONCILIATION (continued)

Staff and Core Costs Fund Restricted funding for ongoing operational costs and for
employers liabilities arising on transfer of employment contracts
to Counterpoints Arts.
Platforma Fund Restricted funding for a project that provides a national
framework for promoting and developing refugee related arts in
the UK and beyond, and for collaborating with our regional
partners on providing networking and individual development
opportunities to artists from refugee and migrant backgrounds.
Refugee Week Fund Restricted funding for an annual, UK wide festival of arts, cultural
and educational events that promote the contribution of
refugees to the UK.
Learning Lab Restricted funding for a dedicated public learning programme
focusing on the theme of arts and social change in relation to
migration.
Ace Catalyst Restricted funding towards enhancing the fundraising capacity
and organisational development, plus match funding towards the
development of national reach and programme.
Paul Hamlyn Foundation Restricted funding towards a series of place-based and touring
art commissions, "testing and exploring" ways of bringing
communities together in a range of locations across England.
Arts and Social Change Retreat Restricted funding for ‘Arts and Social Change’ retreat, bringing
together a diverse group of people from the arts, activism,
advocacy, philanthropy and education.
Tate Restricted funding based on a consortium partnership between
arts organisation, Counterpoints Arts, and four University
partners working with the Tate Exchange at the Tate Modern.
Project title 'Who Are We?'
The Ben and Jerry's Foundation Restricted funding from a new funder towards enhancing our
organisational communication capacity and social/ media
support we provide to Refugee Week event organisers.
Production Restricted funding for specific co-productions across digital and
analogue platforms.
Pop Culture Restricted Funding for a strand of work in the field of pop culture
and social change, encompassing sport, fashion and gaming.
International Comic Relief Restricted funding for a series of commissions, publicity
networking and artist development in Greece, Germany & the
UK.

22

COUNTERPOINTS ARTS NOTES TO THE FINANCIAL STATEMENTS (Cont.) for the year ended 31 March 2021

12. OTHER FINANCIAL COMMITMENTS – LAND AND BUILDINGS

OTHER FINANCIAL COMMITMENTS – LAND AND BUILDINGS
Contracts ending
Not later than one year
Later than one and not later than five
years		 2021
£
13,157
-
13,157		 2020
£
12,774
-
12,774

Lease payments recognised as an expense in the year were £6,787 (2020: £27,150)

13. SHARE CAPITAL

As the company is limited by guarantee it has no share capital and no shareholders.

23