2021-03-31-accounts

						Page
Trustees'	annual report (incorporating	the	director's	report)
Report of	the Independent Examiner	to the Trustees				10
Statement	offinancial activities (including		income and expenditure		account)
Statement	offinancial position					12
Statement	ofcashflows					13
Notes to the financial statements						14

Reference		and administrative	and administrative	and administrative	details
Registered		charity	name		Heeling's Contemporary
Charity registration			number		1150383
Company	registration			number	08204873
Principal office					Hastings Contemporary
					Rock-a-Nore Road
					Hastings
					TN34 3DW
Registered		office			8/9 The Old Yard
					Lodge Farm Business		Centre
					Castlethorpe
					Milton Keynes
					MK197ES
The Trustees					Mr D R M Pennock
					Mrs S H Kowitz
					Mr N F Maclean
					Ms E M Gilmore
					Ms E M L Fox
					Mr A C R Corbett-Nolan
					Ms J O' Sullivan
					Ms A Philips-Pakenham			(appointed	3June 2021)
Director					Ms E M Gilmore
Director of		Operations			Ms K Kish			(until 9October 2020)
					Ms L Long			(from 9October 2020)
Independent		Examiner			Victoria Anderson,
					Clark Brownscombe,	2	StAndrews		Place, Lewes, BN7 1UP
Bankers					HSBC, 4 Robertson	Street, Hastings,				TN34 1HW
Solicitors					Counterculture Partnership			LLP, Unit		NH.204, E1 Business
					Studios, 7Whitechapel		Road, London, E1 1DU

					Year to		Year to
					31 Mar 2021		31 Mar 2020
				Unrestricted	Restricted
				funds	funds	Total funds	Totalfunds
			Note	6
Income and endowments:
Donations and legacies			5	719,911		719,911	400,475
Charitable activities			6	20,811	100,000	120,811	124,272
Other trading activities			7	731		731	89,197
Total income				741,453	100,000	841,453	613,944
Expenditure on:
Raising funds			8	86,903		86,903	276,085
Charitable activities			8&9	696,319	6,000	402,319	603,320
Total expenditure				483,222	6,000	489,222	879,405
Net (expenditure)iincome		and net
movement in funds				258,231	94,000	352,231	(265,461)
Transfers between	funds
Net movement in funds				258,231	94,000	352,231	(265,461)
Reconciliation offunds
Total funds brought	forward			58,008	15,875	73,883	339,344
Total funds carried	forward			316,239	109,875	426,114	73,883

			31Mar	2021	31 Mar 2020
			6	5	5
Fixed assets
Tangible assets		15		31,429	23,199
Investments		16		100	100
				31,529	23,299
Current assets
Debtors		17	195,688		81,159
Cash at bank and in	hand		302,357		66,086
			498,045		147.245
Creditors: amounts	falling due within one year	18	103,460		96,661
Net current assets				394,585	50,584
Total assets less cunant gabilities				426,114	73,883
Net assets				426,114	73,883
Funds ofthe charity
Restricted funds		21		109,875	15,875
Unrestricted funds		21		318,239	58.008
Total charity funds		22		426,114	73,883

	State	men	t ofCash Flows
		31	March 2021
				31 March	31 March
				2021	2020
Cash flows from operating	activities
Net (expenditure) i income for the reporting		period
(per Statement ofFinancial	Activtfiesj			352,231	(265,461)
Adjustments for.
Depreciation oftangible fixed assets				8,905	6,561
Changesint
Stock					27,449
Trade and other debtors				(114,529)	42,318
Trade and other creditors				6,799	(59,583)
Cash generated by / (used in) operations				253,406	(248,716)
Interest received
Net cash generated by / (used in) by operating			activities	253,406	(248,716)
Cash flows from investing	activities
Investment in subsidiary undertaking					(100)
Purchase oftangible assets				(17,135)	(23,185)
Net cash from investing activities				(17,135)	(23,285)
Net Increasei(decrease) in cash end cash Cash and cash equivalents at beginning		equivalents ofyear		236,271 66,086	(272,001) 338,087
Cash and cash equivalents	at end ofyear			302,357	66,086
Cash and cash equivalents	are represented	as	follows:
Cash at bank and in hand	(per Statement	ofFinancial Position)		302,357	66,086

Accou	nting poli	cies	&contrnuaap
Other	support costs are allocated on the			following	basis:
1.	Income (1)		Costs are allocated	in direct	proportion to the		related		unrestricted		income
			streams
2.	Income (2)		Costs are allocated	10%to	raising funds (other		than trading activities)					and
			the remainder in direct proportion to unrestrticted					charitable		and	trading
			activity income streams
2.	Staff Costs		Costs are allocated	in direct	proportion to the allocation				of unrestricted			staff
			costs between activities
3.	Floor Space		Costs are allocated	according to the approximate				floor	space occupied by
			the relevant activity
4.	Proportion	(1)	Costs are allocated	in the following proportions,			which the trustees				deem to
			be reflective of the relative		costs incurred	for		each	activity,	based		on
			informed input and	estimates	from management:
			Gallery Operations	80%, Raising Funds 15%,		Education; 5%
S.	Proportion	(2)	Costs are allocated	in the following proportions,			which the trustees				deem to
			be reflective of the relative		costs incurred	for		each	activity,	based		on
			informed input and	estimates	from management:
			Gallery Operations	10%,Raising Funds 90%

Donations and l	egacies (all Unrestricted	Funds)
			Total Funds	Total Funds
			Year ended	Yearended
			31Mar2021	31 Mar2020
Core grant funding			E	E
Jerwood Foundation				150,000
Arts Council England
Annual NPO	Funding		101,840	100,000
Emergency	Funding		67,013
DCMS Cultural Recovery Fund			230,000
Hastings Borough Donations	Council		30,000	30,000
Benefactors Patrons &Directors Circle			1,400 40,000	1,900 39,000
General donations			45,947	21,740
Donation from subsidiary			164,250
Other donations	and legacies
Membership income			37,741	46,088
GiR aid			1,720	11,747
			719,911	400,475
Charitable activities
		Unrestricted	Restricted	Total Funds
2021		Funds	Funds	31Mar 2021
		E		E
Grant income			100,000	100,000
Admissions		20,472		20,472
Participation & learning
Public programme		339		339
		20,611	100,000	120,811
		Unrestricted	Restricted	Total Funds
2020		Funds	Funds	31 Mar 2020
			E	E
Grant income			34,500	34,500
Admissions		81,066		81,066
Catalogue sales		5,043		5,043
Participation & learning		943		943
Public programme		2,720		2,720
		69,772	34,500	124,272

Other trading	ac	tivities	(all Unrestricted Funds)
				TotalFunds	Total Funds
				Year ended	Year ended
				31 Mar 2021	31 Mar 2020
				E	E
Shop retail sales					42,965
Artwork sales	(including		donated goods)		36,375
Venue hire Cafe commission		and recharges			3,463 6,170
Miscellaneous	income			731	224
				731	89,197

		Year ended 31 March	Year ended 31 March	2021
8.	Total Expenditure	by Activity
	2021		Staff Costs 5	Direct Costs f	Support Costs	Total f
	Charitable Activities:
	Gallery Operations		120,633	44,768	197,162	362,563
	Education		19,732	6,000	6,486	32,218
	Public Programme			214	288	502
	Other
			140,365	50,982	203,936	395,283
	Cost of Raising Funds:
	Fundraising		52,194		41,745	93,939
	Trading activities
			52,194		41,745	93,939
	Total Expenditure		192,559	50,982	245,681	489,222
	2020		Staff Costs	Direct Costs	Support Costs	Total
				8	f
	Charitable Activities:
	Gallery Operations		180,891	94,228	231,611	506,730
	Education		52,487	27,107	9,861	89,455
	Public Programme			1,412	415	1,827
	Other			5,308		5,308
			233,378	128,055	241,887	603,320
	Cost ofRaising Funds:
	Fundraising		68,997	40,121	31,116	140,234
	Trading activities		61,677	33,776	40,398	135,851
			130,674	73,897	71,514	276,085
	Total Expenditure		364,052	201,952	313,401	879,405
9.	Expenditure on charitable		activities by fund type
				Unrestricted	Restricted	Total Funds
	2021			Funds f	Funds	31 Mar 2021 f
	Gallery Operations			362,563		362,563
	Participation and learning			26,218	6,000	32,218
	Public programme			502		502
	Other
				389,283	6,000	395,283

Expenditure	on charitable	activities by fund type (convnueu)
		Unrestricted	Restricted	Total Funds
2020		Funds f	Funds	31 Mar 2020 f
Gallery Operations		506,730		506,730
Participation	and learning	62,348	27,107	89,455
Public programme		1,827		1,827
Other		5,308		5,308
		576,213	27,107	603,320

Support co	sts (all Unr	estricted	Funds)
				Total Funds	Total Funds
				Year ended	Yearended
				31 Mar 2021 f	31 Mar 2020 f
Governance				20,047	17,855
Other staff costs (travel,		training	and other expenses)	4,348	20,494
Property				79,720	112,018
Marketing				45,339	78,131
Rebranding	&launch event				23,088
Information	Technology	and website costs		7,594	14,488
Office costs				15,051	18,588
Accountancy	and book-keeping			19,675	21,830
Consultancy	support			52,800	6,788
Bank charges				1,107	2,330
				245,681	313,401

Analysis of	support costs	support costs	by activity
						Ol
Governance			o,o e o B rQ ws	m ~ C~ 74 c f	~ c mB e' 0 o.0f	o Ig E N.I m 'oC F	9 Xl	E rse CL f	Total Year ended 31 Mar 2021 f
			Income (1)	19,493	554				20,047
Other staff costs (travel,
training and	other		Ste((Costs	1,179	2,723	446			4,348
expenses)
Property Marketing			Floor Space Prop' (1)	6,801	79,720 36,271	2,267			79,720 45,339
Rebranding	&launch event		Prop' (1)
Information	Technology		Prop' (1)	1,139	6,075	380			7,594
Office costs			Prop' (1)	2,258	12,040	753			15,051
Accountancy	and book-
keeping			Income (2)	1,968	17,419			288	19,675
Legal and professional		fees	Prop'(1)	7,920	42,240	2,640			52,800
Bank charges			Prop' (2)	996	111				1,107
				41,754	197,153	6,486		288	245,681

				TotalFunds	Total Funds
				Year ended	Year ended
				31 Mar 2021	31 Mar2020
				6	5
Staff costs				12,829	10,568
Accountancy	and independent		examination	5,300	5,750
Legal and professional		fees		1,918	1,537
				20,047	17,855

Net income	for the period is stated after charging:
		Year ended	Year ended
		31 Mar	31 Mar
		2021	2020
Depreciation Independent Examiners fees Operating lease rentals		8,905 2,300 10,000	6,561 2,300 10,000

Staff co	sts
The total	staff costs and employee	benefits forthe	reporting	period are analysed as	follows:
				Year ended	Year ended
				31 Mar	31 Mar
				2021	2020
				6
Wages and salaries				228,616	332,780
Social security costs				16,275	27,693
Pension contributions				8,335	11,876
Employee benefits				1,850	2,271
Furlough	support scheme			(49,688)
				205,388	374,620

equivalen	t to more than E60,000 per annum	during the period were as follo	ws:
		Year	ended	Year ended
			31 Mar	31 Mar
			2021	2020
			E
E60,001	- E70,000			1
E70,001	- E80,000		1

		Year ended	Year ended
		31 Mar	31 Mar
		2021	2020
		E
Remuneration		72,401	59,802
Pension contributions		4,344	3,588
Employee	benefits	925	844
		77,670	64,234

other services from the charity during the peri Tangible fixed assets	od (2020: Nil)
	Fixtures &
	fittings	Total
		E
Cost
At 1 April 2020	37,836	37,836
Additions	17,135	17,135
At 31 March 2021	54,971	54,971
Depreciation
At 1 April 2020	14,637	14,637
Charge	8,905	8,905
At 31March 2021	23,542	23,542
Net BookValue
At 31 March 2021	31,429	31,429
At 31 March 2020	23,199	23,199

									Investment in	Investment in	Investment in
										Subsidiary
									Undertakings			Total
												6
Cost
At 1 Apriil 2020											100	100
Additions
At 31 March		2021									100	100
Net BookValue
At 31 March		2021									100	100
At 31 March 2020											100	100
The charity owns 100% of the share capital of registered in England and Wales with registered							Hastings number	Contemporary 12262368.		Trading Ltd,		a company
The charity	established a			subsidiary		company,	Hastings		Contemporary		Trading	Ltd, for the
purpose of carrying out its non-charitable						trading	activities.		These activities were transferred with
effect from 1	January		2020.
The subsidiary		had the following			results	forthe yean
									Year		ended	3months
											31 Mar	ended 31
											2021	Mar 2020
											6
Total assets											134,750	31,665
Total liabilities											134,564	31,537
Total equity											186	128
Turnover											188,011	24,205
Expenditure											187,953	24,177
Profit											58	28
Debtors
											31Mar	31 Mar
											2021	2020
Trade debtors												15,851
Amounts due		from subsidiary		undertakings							134,444	30,228
Prepayments Other debtors		and accrued income									47,880 13,364	29,381 5,'599
											195,688	81,159

Creditors: amounts falling due within one year
	31 Mar	31 Mar
	2021	2020
	5	8
Trade creditors Other tax and social security	46,472 5,002	16,423 8,217
Accruals and deferred income Other creditors	46,173 5,813	68,093 3,928
	103,460	96,661

Movement	on the deferre	d income	account	is as follow	s:
						31 Mar	31 Mar
						2021	2020
						8
Deferred	income brought	fonvard				21,769	73,416
Grants income received		in respect	of future	accounting	periods		(50,000)
Movement	In membership!ncome		received	in respect	offuture
accounting	periods					(9,946)	(1,647)
Deferred income carried		forward				11,823	21,769

in January 2022 of67,500(2020:617,500), analysed as follo	ws:
	31 Mar	31 Mar
	2021	2020
		f
Due within one year	7,500	10,000
Later than one year end not more than five years		7,500
	7,500	17,500

Unrestricted	funds
			Balance at					Balance at
2021			1 Apr 2020		income f	Expenditure F	Transfers f	31	Mar 2021 6
General Funds				58,008	741,453	(483,222)	(288 250)		27)989
Designated	Funds:
Maintenance
Contingency	Fund						124,000		124,000
Covid recovery fund							164,250		164,250
							288,250		288,250
Total Unrestricted
Funds				58,008	741,453	(483,222)			316,239
			Balance at					Balance at
2020			1 Apr 2019		Income f	Expenditure	Transfers	31	Mar 2020 5
General Funds				339,344	579,444	(852,298)	(8,482)		58,008
Designated	Funds
The trustees	have	taken	the	decision	to set aside	two designated	funds for	the	following
purposes:

Restricted funds
	Balance at				Balance at
2021	1 Apr 2020 E	Income 2	Expenditure 5	Transfers	31Mar 2021 f
Education projects Garfield keaton	15,875		(6,000)		9,875
Foundation		100,000			100,000
	15,875	100,000	(6,000)		109,875
	Balance at				Balance at
2020	1 Apr 2019	Income	Expenditure	Transfers	31 Mar 2020
		5		6
Education projects		34,500	(27,107)	8,482	15,875
		34,500	(27,107)	8,482	15,875

Analysis ofnet as	sets between funds
		Unrestricted	Restricted	TotalFunds
		Funds	Funds	31Mar 2021
2021				5
Fixed assets		31,529		31,529
Current assets		388,170	109,875	498,045
Creditors less than	1 year	(103,460)		(103,460)
Net assets		316,239	109,875	426,114
		Unrestricted	Restricted	Total Funds
2020		Funds 6	Funds f	31 Mar 2020 F
Fixed assets		23,299		23,299
Current assets		131,370	15,875	147,245
Creditors less than	1 year	(96,661)		(96,661)
Net assets		58,008	15,875	73,883