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|||||||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|
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|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||||
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||||||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|
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||||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|
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||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|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
|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%|||||||||
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|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|
##
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|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|
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|||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|
##
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|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|
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|||||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|
##
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##
|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|
##
##
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##
||||||||||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|
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|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|
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|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:||||||||||
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|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|
##
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