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|||||Page|
|---|---|---|---|---|
|Trustees'
annual
report (incorporating|the|directors report)|||
|Report ofthe Independent
Examiner|to the Trustees|||10|
|Statement offinancial
activities (including||income and expenditure|account)||
|Statement offinancial
position||||12|
|Statement ofcashfiows||||13|
|Notes to the financial statements|||||
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|The trustees,|The trustees,|who are also the|who are also the|who are also the|directors for the purposes|ofcompany
law, present their report and the|ofcompany
law, present their report and the|
|---|---|---|---|---|---|---|---|
|financial statements|||ofthe charity for ths period ended 31 March 2022.|||||
|Reference|and administrative||||details|||
|Registered||charity|name||Hastings
Contemporary|||
|Charity registration|||number||1150383|||
|Company|registration|||number|08204873|||
|Principal office|||||Hastings
Contemporary|||
||||||Rock-a-Nore Road|||
||||||Hastings|||
||||||TN34 3DW|||
|Registered||oNce|||8The Old Yard|||
||||||Lodge Farm Business Centre|||
||||||Castlethorpe|||
||||||Milton Keynes|||
||||||MK197ES|||
|The Trustees|||||Mr D R M Pennock|||
||||||Mrs S H Kowilz|(resigned 30April 2022)||
||||||Mr N F Maclesn|||
||||||Ms E M Gilmore|(resigned 31 March 2022)||
||||||Ms E M LFox|||
||||||Mr ACR Corbett-Nolan|||
||||||MsJ O'Sullivan|||
||||||Ms A Philips-Paksnham|(appointed|3June 2021)|
||||||MsS J Hopwood|(appointed|6 May 2022)|
||||||Dr D RGhate|(appointed|6 May 2022)|
||||||Mrs P M N Millett|(appointed|6 Msy 2022)|
||||||Mr P DJChowney|(appointed|6 May 2022)|
|Director|||||Ms E M Gilmore|||
|Director ofOperations|||||Ms LLong|||
|Accountants|||||GP Financial Management
Ltd|||
||||||8The Old Yard, Lodge|Farm Business Centre||
||||||Castlethorpe,
Milton Keynes. MK197ES|||
|Independent||Examiner|||Victoria Anderson,|||
||||||Clark Brownscombe,|||
||||||2StAndrews
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|
|---|---|---|---|---|---|
||||31Mar 2022||31 Mar 2021|
|||Unrestricted|Restricted|||
||Note|funds|funds
8|Total funds
8|Total funds
f|
|Income and endowments:||||||
|Donations
and legacies|5|779,872||779,872|719,911|
|Charitable
activities|6|87,465|52,000|139,465|120,811|
|Other trading
activities|7|1,368||1,368|731|
|Total income||868,705|52,000|920,705|841,453|
|Expenditure
on:||||||
|Raising funds|8|142,379||142,379|86,903|
|Charitable
activities|8&9|380,929|127,271|508,200|402,319|
|Total expenditure||523,308|127,271|650,579|489,222|
|Net income and net movement|In funds|345,397|(75,271)|270,126|352,231|
|Transfers between funds||||||
|Net movement
in funds||345,397|(75,271)|270,126|352,231|
|Reconciliation
offunds||||||
|Total funds brought forward||316,239|109,875|426,114|73,883|
|Total funds carried forward||661,636|34,604|696,240|426,114|
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||State|men|t ofCash Flows|||
|---|---|---|---|---|---|
|||31|March 2022|||
|||||31March|31 March|
|||||2022|2021|
|||||5||
|Cash flows from operating|activities|||||
|Net income for the reporting|period|||||
|(per Statement ofFinancial|Actlv8(esj|||270,126|352,231|
|Adjustments
for:||||||
|Depreciation
oftangible 6xed assets||||11,143|8,905|
|Changesin:||||||
|Stock||||||
|Trade and other debtors||||(19,714)|(114,529)|
|Trade and other creditors||||(27,792)|6,799|
|Cash generated
byi(used in) operations||||233,763|253,406|
|Interest received||||||
|Nst cash generated
by / (used in) by operating|||activities|233,763|253,406|
|Cash flows from Investing|activities|||||
|Investment
in subsidiary
undertaking||||||
|Purchase oftangible assets||||(11,165)|(17.135)|
|Net cash from investing
activities||||(11,165)|(17,135)|
|Net increasel(decrease)
in cash and cash||equivalents||222,598|236,271|
|Cash snd cash equivalents|st beginning|ofyear||302,357|66,086|
|Cash and cash equivalents|at end ofyear|||524,955|302,357|
|Cash and cash equivalents|sre represented|as|follows:|||
|Cash at bank and in hand|(per Statement|ofFinancial Posltfonj||524,955|302,357|
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|5.|Donations a|nd l|egacies (all Unrestricted|Funds)||||
|---|---|---|---|---|---|---|---|
|||||||Total Funds|Total Funds|
|||||||Yearended|Year ended|
|||||||31 Mar 2022|31 Mar 2021|
||Core grant funding|||||6|5|
||Arts Council|England||||||
||Annual|NPO|Funding|||101,840|101,540|
||Emergency||Funding||||67,013|
||DCMS Cultural
Recovery Fund|||||446,990|230,000|
||Dunard
Fund|||||40,000||
||Hastings
Borough||Council|||30,000|30,000|
||Donations|||||||
||Benefactors|||||1,000|1,400|
||Patrons
&Directors Circle|||||28,650|40,000|
||General donations|||||5,279|45,947|
||Donation from subsidiary|||||97,730|164,250|
||Other donations||and legacies|||||
||Membership|income||||28,383|37,741|
||GiR sid||||||1,720|
|||||||779,872|719,911|
|6.|Charitable
activities|||||||
||||||Unrestricted|Restricted|Total Funds|
||2022||||Funds|Funds|31 Mar 2022|
||||||8||6|
||Grant income|||||52,000|52,000|
||Admissions||||86,016||86,01$|
||Participation
& learning
Public programme||||793
656||793
656|
||||||87,465|52,000|139,465|
||||||Unrestdcled|Restricted|TotalFunds|
||2021||||Funds|Funds|31 Mar 2021|
||||||8|5|5|
||Grant income|||||100,000|100,000|
||Admissions||||20,472||20,472|
||Participation
& learning
Public programme||||339||339|
||||||20,511|100,000|120,811|
|7.|Other trading|activities (all Unrestricted||Funds)||||
|||||||Total Funds|Total Funds|
|||||||Yearended|Year ended|
|||||||31 Mar2022|31 Mar 2021|
|||||||6|6|
||Miscellaneous|income||||1,3$8|731|
|||||||1,368|731|
##
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|||Notes tothe Financial Stateme
Year ended 31March|Notes tothe Financial Stateme
Year ended 31March|nts
fconrrsvsry
2022|||
|---|---|---|---|---|---|---|
|8.|Total Expenditure|by Activity|||||
||||||Support||
||2022||Staff Coals
6|Direct Costs
f|Costs
6|Total
8|
||Charitable
Activities:||||||
||Gallery Operations||150,662|96,668|216,201|48$,531|
||Education||24,045|13,244|6,913|44,202|
||Public Programme|8 other|||467|467|
||||174,707|109,912|223,581|508,200|
||Cost ofRaising Funds:||||||
||Fundraising||88,808||50,252|117,060|
||Trading activities||23,903||1,416|25,319|
||||90,711||51,668|142,379|
||Total Expenditure||265,416|109,912|275,249|650,579|
||||||Support||
||2021||Staff Costs
6|Direct Costs|Costs
6|Total
f|
||Charitable
Activities:||||||
||Gallery Operations||120,633|44,768|197,162|$62,563|
||Education||19,732|6,000|6,486|$2,218|
||Public Programme|&other||214|288|502|
||||140,365|50,962|203,936|395,283|
||Cost ofRaising Funds:||||||
||Fundraising||52,194||41,745|93,939|
||Trading activities||||||
||||52,194||41,745|93,939|
||Total Expenditure||192,559|50,982|245,661|489,222|
|9.|Expenditure
on charitable||activities by fund type||||
|||||Unrestricted|Restricted|TotaIFunds|
|||||Funds|Funds|31 Mar 2022|
||2022|||5|6|8|
||Gallery Operations|||362.531|101,000|463,531|
||Participation
and learning
Public programme
5 other|||17,931
467|26,271|44,202
467|
|||||380,929|127,271|508,200|
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|Expenditure|on charitable|on charitable|activities by fund type (cenanvvcf|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|31 Mar 2021|
|2021|||E|E|E|
|Gallery Operations|||362,563||362,563|
|Participation|and learning||26,218|6,000|32,218|
|Public programme||&other|502||502|
||||389,283|6,000|395,283|
##
|Support co|sts (all Unr|estricted|Funds)|||
|---|---|---|---|---|---|
|||||Total Funds|Total Funds|
|||||Yearended|Year ended|
|||||31 Mar 2022|31 Mar 2021|
|||||E|E|
|Governance||||23,871|20,047|
|Other staff costs (travel,||training|and other expenses)|10,324|4,348|
|Property||||$4,357|79,720|
|Marketing||||27,475|45,339|
|information|Technology|and website costs||3,427|7,594|
|Office costs||||18,026|15,051|
|Accountancy|and book-keeping|||20,000|19,675|
|Consultancy|support|||72,625|52,800|
|Bank charges||||5,144|1,107|
|||||275,249245,681||
##
||||c
o,o
e9 o
e o
ro e||W
Wo
= E
Yl5 o.0|c rs
o FgE
so,ee
9~
e
o- e|= E&
o E 8
o eg
o. Ii'~
o.|Total
Year
ended 31
Mar 2022|
|---|---|---|---|---|---|---|---|---|
|||||E|F||E|E|
|Governance|||Income (1)|21,429|2,364||56|23,871|
|Other staff coals (travel,|||||||||
|training
and|expenses)||StaffCosts|5,376|4,294|654||10,324|
|Property|||Floor Space||94,357|||94,357|
|Marketing|||Pmp' (1)|4,121|21,980|1,374||27,475|
|information|Technology||Pmp' (1)|514|2,742|171||3~27|
|Office costs|||Prop' (1)|2,704|14,421|901||18,026|
|Accountancy|and book-||||||||
|keeping|||Income (2)|2,000|17,429|160|411|20,000|
|Legal and professional||fees|Prop' (1)|10,694|58,100|3,631||72,625|
|Bank charges|||Pncp' (2)|4,630|514|||5,144|
|||||51,668|216,201|6,913|467|275,249|
##
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|Governanc|e|costs (all Unres|tricted
Funds)|||||
|---|---|---|---|---|---|---|---|
|||||Total Funds||Total Funds||
|||||Year ended||Year ended||
|||||31|Mar 2022
f|31|Mar 2021
5|
|Staff costs|||||15,163||12,829|
|Accountancy||and independent|examination||4,833||5,300|
|Legal and|professional fees||||3,875||1,918|
||||||23,871||20,047|
|Net Income||for the period||||||
|Net income||forthe period is stated after charging:||||||
|||||Yearended||Year ended||
||||||31Mar||31Msr|
||||||2022||2021|
||||||8||2|
|Depreciation|||||11,143||8,905|
|Independent||Examiners fees|||1,833||2,300|
|Operating|lease rentals||||7,500||10,000|
##
|Staff co|sts||||
|---|---|---|---|---|
|The total|staff costs and employee|benefits for the reporting|period are analysed as|follows:|
||||Yearended|Year ended|
||||31Mar|31 Mar|
||||2022|2021|
||||6|2|
|Wages and salaries|||258,690|228,616|
|Social security costs|||19,546|16,275|
|Pension|contributions||7,915|8,335|
|Employee benefits|||1,010|1,850|
|Furlough|support scheme||(6,580)|(49,688)|
||||280,581|205,388|
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|Year|ended|Year ended|
|---|---|---|
||31 Mar|31 Mar|
||2022
f|2021
2|
|||1|
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|following
salary
in her role as Director and n
the Charity Commission.|ot as Trustee. Payment for this role is|authorised
by|
|---|---|---|
||Year ended|Year ended|
||31 Mar|31 Mar|
||2022|2021|
||5|L|
|Remuneration|85,000|72,401|
|Pension contributions|5,100|4,344|
|Employee benefits|1,010|925|
||91,110|77,670|
##
|other services from the charity during the peri
Tangible fixed assets|od (2021:Nil)||
|---|---|---|
||Fixtures 6||
||fittings|Total|
||E||
|Cost|||
|At 1 April 2021|54,971|54,971|
|Additions|11,165|14,290|
|At 31 March 2022|66,136|69,261|
|Depreciation|||
|At 1 April 2021|23,542|23,542|
|Charge|11,143|11,614|
|At 31 March 2022|34,685|35,156|
|Net BookValue|||
|At 31 March 2022|31,451|34,105|
|At 31 March 2021|31,429|31,429|
##
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||investment|in||
|---|---|---|---|
||Subsidiary|||
||Undertakings||Total|
|Cost||||
|At 1 April 2020||100|100|
|Additions||||
|At 31 March 2021||100|100|
|Net BookValue||||
|At 31March 2021||100|100|
|At 31 March 2020||100|100|
##
|||||Year ended|Year ended|
|---|---|---|---|---|---|
|||||31Mar|31 Mar|
|||||2022
f|2021|
||Total assets|||96,378|134,750|
||Total liabilities|||92,963|134,564|
||Total equity|||3,415|186|
||Turnover|||171,658|188,011|
||Expenditure|||168,428|187,953|
||Proot|||3,230|58|
|17.|Debtors|||||
|||||31 Mar|31 Mar|
|||||2022|2021|
||Trade debtors|||||
||Amounts
due|from subsidiary|undertakings|89.O16|134,444|
||Prepayments|and accrued income||116,986|47,880|
||Other debtors|||9,4OO|13,364|
|||||215,402|195,688|
##
##
|Creditors: amounts
fa8lng due within one year|||
|---|---|---|
||31 Mar|31 Mar|
||2022|2021|
||6|6|
|Trade creditors|19,034|45,472|
|Other tax snd social security|7,407|5,002|
|Accruals and deferred income|39,171|46,173|
|Other creditors|10,056|5,613|
||75,668|103,460|
##
|Movement|on the deferre|d income account|is as follows:|||
|---|---|---|---|---|---|
|||||31Mar|31 Mar|
|||||2022|2021|
|||||6|6|
|Deferred income brought||forward||11,823|21,769|
|Movement|in membership|income received|in respect offuture|||
|accounting|periods|||4,993|&9a,946i|
|Deferred income canied||forward||16,816|11,823|
##
|||||31Mar|31 Mar|
|---|---|---|---|---|---|
|||||2022|2021|
|||||6||
|Due|within|one|year||7,500|
||||||7,500|
##
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##
|Analysis of|charitable|funds|||||
|---|---|---|---|---|---|---|
|Unrestricted|funds||||||
|||Balance at||||Balance at|
|2022||1Apr 2021
f|Income|Expenditure
E|Transfers
E|31 Mar 2022|
|General Funds||27,989|868,705|(523,308)||373,386|
|Designated|Funds:||||||
|Maintenance|||||||
|Contingency|Fund|124,000||||124,000|
|Covid recoveryfund||184,250||||164,250|
|||288,250||||286,250|
|Total||316,239|868,705|(523,308)||661,636|
|||Balance at||||Balance st|
|2021||1 Apr 2020
8|Income
f|Expenditure
E|Transfers
8|31 Mar 2021|
|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||58,008|741,453|(483,222)||316,239|
##
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|Restricted|funds|||||||
|---|---|---|---|---|---|---|---|
|||Balance at|||||Balance at|
|2022||1 Apr 2021||Income|Expenditure|Transfers|31 Mar 2022|
||||6|6||6||
|Education|projects||9,875|1,000|(910,875)|||
|Garfield Weston||||||||
|Foundation|||100,000||(100,000)|||
|Exhibitions||||1,000|(1,000)|||
|Museums|associations|||50,000|(15,396)||34,604|
||||109,875|52,000|(127,271)||34,604|
|||Balance at|||||Balance at|
|2021||1|Apr 2020
6|Income
f|Expenditure|Transfers|31 Mar 2021
6|
|Education|projects||15,875||(6,000)||9,875|
|Garfield Weston||||||||
|Foundation||||100,000|||100,000|
||||15,875|100,000|(6,QQQ)|—|109,875|
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|Analysis ofnet as|sets between funds||||
|---|---|---|---|---|
|||Unrestricted|Restricted|TotalFunds|
|||Funds|Funds|31 Mar 2622|
|2022||6|6|6|
|Fixed assets||31,551||31,551|
|Current assets||705,753|34,604|740,357|
|Creditors less than|1 year|(75,668)||(75,668)|
|Net assets||661,636||696,240|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|31 Mar 2021|
|2021||6||6|
|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|
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