2023-03-31-accounts - Hastings Contemporary

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

Registered		charity	name	name	Hastings Contemporary	Hastings Contemporary
Charity registration			number		1150383
Company	registration			number	08204873
Principal office					Hastings Contemporary
					Rock-a-Nore Road
					Hastings
					TN34 3DW
Registered		office			8The Old Yard
					Lodge Farm Business		Centre
					Castlethorpe
					Milton Keynes
					MK197ES
The Trustees					Mr D R M Pennock				(resigned	20 November 2023)
					Mrs S H Kowitz				(resigned	30 April	2022)
					Mr N F Maclean				(resigned	28 July	2023)
					Ms EML Fox
					Mr A C R Corbett-Nolan
					Ms J O' Sullivan
					Ms A Philips-Pakenham
					Ms SJ Hopwood				(appointed	6 May	2022)
									(appointed	Interim	Chair
									20 November 2023)
					Dr D R Ghate				(appointed	6 May	2022)
					Mrs P M N Millett				(appomted	6 May	2022)
					Mr P DJ Chowney				(appointed	6 May	2022)
Director					Ms E M Gilmore
Director of		Operations			Ms L Long
Accountants					GP Financial Management			Ltd
					8The Old Yard, Lodge		Farm		Business Centre
					Castlethorpe, Milton	Keynes,			MK197ES
Independent		Examiner			Victoria Anderson BA (Hone)				FCA DChA,
					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

					Yearto	Yearto		Year to
					31 Mar 2023		31	Mar 2022
			Unrestricted		funds	All
			General	Designated		Restricted	Total	Total
			Fund		Fund	funds	funds	funds
		Note	E		E	E	E	E
Income and endowments:
Donations and legacies		5	405,522				405,522	779,872
Charitable activities		6	132,969		—	163,147	296,116	139,465
Other trading activities			7,410				7,410	1,368
Total income			545,901			163,147	709,048	920,705
Expenditure on:
Raising funds		8	217,075				217,075	142,379
Charitable activities		859	542,413			170,528	712,941	508,200
Total expenditure			759,488		—	170,528	930,016	650,579
Net income and net movement		in funds	(213,587)			(7,381)	(220,968)	270,126
Transfers between	funds		164,250	(164,250)
Net movement in funds			(49,337)	(164,250)		(7,381)	(220,968)	270,126
Reconciliation offunds
Total funds brought	forward		373,386		288,250	34,604	696,240	426,114
Total funds carried	forward		324,049		124,000	27,223	475,272	696,240

				31 March	31 March
				2023	2022
					E
Cash flows from operating	activities
Net (deficit) / surplus for the	reporting	period
(per Statement ofFinancial	Activities)			(220,968)	270,126
Adjustments for:
Depreciation oftangible fixed assets				15,791	11,143
Changesin:
Trade and other debtors				69,555	(19,714)
Trade and other creditors				38,012	(27,792)
Cash (used in) / generated	by operations			(97,610)	233,763
Interest received
Net cash (used in) / generated by operating			activities	(97,610)	233,763
Cash flows from investing	activities
Purchase oftangible assets				(19,440)	(11,165)
Net cash from investing activities				(19,440)	(11,165)
Net (decrease)/increase in cash and		cash	equivalents	(117,050)	222,598
Cash and cash equivalents	at beginning		ofyear	524,955	302,357
Cash and cash equivalents	at end ofyear			407,905	524,955
Cash and cash equivalents	are represented		as follows:
Cash at bank and in hand	(per Statement		ofFinancial Position)	407,905	524,955

5.	Donations and	l	egacies	(all Unrestricted	Funds)
							Total Funds	Total Funds
							Year ended	Year ended
							31 Mar 2023	31 Mar 2022
	Core grant funding						E	E
	Arts Council England
	Annual NPO		Funding				101,840	101,840
	Emergency		Funding
	DCMS Cultural	Recovery		Fund				446,990
	Dunard Fund						40,000	40,000
	Hastings Borough		Council				30,000	30,000
	Donations
	Benefactors							1,000
	Patrons &Directors Circle						30,600	28,650
	General donations						251	5,279
	Donation from	subsidiary					135,000	97,730
	Other donations		and legacies
	Membership income						43,253	28,383
	Gift aid and other		tax reliefs				24,578
							405,522	779,872
6.	Charitable activities
						Unrestricted	Restricted	TotalFunds
	2023					Funds	Funds	31 Mar 2023
							E	E
	Grant income						63,915	63,915
	Sponsorship					42,500		42,500
	Donations						99,232	99,232
	Admissions					81,169		81,169
	Participation &learning					3,562		3,562
	Public programme					5,738		5,738
						132,969	163,147	296,116
						Unrestricted	Restricted	Total Funds
	2022					Funds	Funds	31 Mar 2022
								E
	Grant income						52,000	52,000
	Admissions					86,016		86,016
	Participation &	learning				793		793
	Public programme					656		656
						87,465	52,000	139,465
7.	Other trading	activities		(all Unrestricted	Funds)
							Total Funds	Total Funds
							Year ended	Year ended
							31 Mar 2023	31 Mar 2022
							E	E.
	Miscellaneous	income					7,410	1,368
							7,410	1,368

8.	Total Expenditure	Total Expenditure	by Activity	by Activity
							Support
	2023				Staff Costs	Direct Costs	Costs	Total
					F	6	6
	Charitable	Activities:
	Gallery Operations				156,335	198,597	254,677	609,609
	Education	& Public	Programme		57,934	37,025	8,373	103,332
	Other
					214,269	235,622	263,050	712,941
	Cost ofRaising Funds:
	Fundraising				100,527		52,791	153,318
	Trading activities				59,454		4,303	63,757
					159,981		57,094	217,075
	Total Expenditure				374,250	235,622	320,144	930,016
							Support
	2022				Staff Costs	Direct Costs	Costs	Total
					8	F
	Charitable	Activities:
	Gallery Operations				150,662	96,668	216,201	463,531
	Education	& Public	Programme		24,045	13,244	6,913	44,202
	Other						467	467
					174,707	109,912	223,581	508,200
	Cost of Raising Funds;
	Fundraising				66,808		50,252	117,060
	Trading activities				23,903		1,416	25,319
					90,711		51,668	142,379
	Total Expenditure				265,418	109,912	275,249	650,579
9.	Expenditure on charitable			activities	by fund type
						Unrestricted	Restricted	Total Funds
						Funds	Funds	31 Mar 2023
	2023					f'	8	8
	Gallery Operations					513,802	95,807	609,609
	Education	& Public	Programme			28,611	74,721	103,332
	Other
						542,413	170,528	712,941

				Year	ende	d 31	March 2023
9.	Expenditure		on charitable	activities	by	fund	type (centtnuett)
							Unrestricted	Restricted	Total Funds
							Funds	Funds	31 Mar 2022
	2022						E	E	E
	Gallery Operations						362,531	101,000	463,531
	Education	&	Public Programme				17,931	26,271	44,202
	Other						467		467
							380,929	127,271	508,200

Support co	sts (all Unr	estricted	Funds)
				Total Funds	Total Funds
				Year ended	Year ended
				31 Mar 2023	31 Mar2022
				E	F
Governance				28,697	23,871
Other staff costs (travel,		training	and other expenses)	20,857	10,324
Property				133,849	94,357
Marketing				51,395	27,475
Information	Technology	and website costs		2,564	3,427
Office costs				17,653	18,026
Accountancy	and book-keeping			13,029	20,000
Irrecoverable	VAT			30,145
Consultancy	support			15,300	72,625
Bank charges				6,656	5,144
				320,144	275,249

		o e et e o et 0 m ct	ts et 6I o eatx LL	tO 5o Q ' LD te5 o0	os ID o E 0 O E teo E Oo CD0 o	Total Year ended 31 Mar 2023
			E	E	F
Governance		Income (1)	21,708	6,500	489	28,697
Other staff costs (travel,
training and	expenses)	Staff Costs	9,915	9,688	1,254	20,857
Property		Floor Space		133,849		133,849
Marketing		Prop'(1)	7,709	41,116	2,570	51,395
Information	Technology	Prop' (1)	385	2,051	128	2,564
Office costs		Prop'(1)	2,648	14,122	883	17,653
Accountancy	and book-
keeping		Income (2)	1,922	10,329	777	13,029
Irrecoverable	VAT	Prop' (1)	4,522	24,116	1,507	30,145
Legal and professional fees		Prop'(1)	2,295	12,240	765	15,300
Bank charges		Prop'(2)	5,990	666		6,656
			57,094	254,677	8,373	320,144

				Total Funds	Total Funds
				Year ended	Year ended
				31 Mar 2023	31 Mar2022
					F
Staff costs				21,138	15,163
Accountancy	and independent		examination	5,500	4,633
Legal and professional		fees		2,059	3,875
				28,697	23,871

Net incom	e	for the period is stated after charging:
			Year ended	Year ended
			31 Mar	31 Mar
			2023	2022
			r.	6
Depreciation			15,791	11,143
Independent		Examiners fees	2,500	1,833
Operating	lease rentals		12,500	7,500

Staff cos	ts
The total	staff costs and employee	benefits	for the reporting	period are analysed as	follows:
				Year ended	Year ended
				31 Mar	31 Mar
				2023	2022
					6
Wages and salaries				355,277	258,690
Social security costs				28,491	19,546
Pension contributions				10,281	7,915
Employee	benefits			1,338	1,010
Furlough	support scheme				(6,580)
				395,387	280,581

services from the charity during the period (2 Tangible fixed assets	022: Nil)
	Fixtures &
	fittings	Total f
Cost
At 1 April 2022	66,136	66,136
Additions	19,440	19,440
At 31 March 2023	85,576	85,576
Depreciation
At 1 April 2022	34,685	34,685
Charge	15,791	15,791
At 31 March 2023	50,478	50,476
Net Book Value
At 31 March 2023	35,100	35,100
At 31 March 2022	31,451	31,451

	Investment	in
	Subsidiary
	Undertakings		Total
Cost
At 1 April 2020		100	100
Additions
At 31 INarch 2021		100	100
Net BookValue
At 31 March 2021		100	100
At 31 March 2020		100	100

				Year ended	Year ended
				31 Mar	31 Mar
				2023	2022
				6	6
	Total assets			77,550	96,378
	Total liabilities			73,770	92,963
	Total equity			3,780	3,415
	Turnover			189,020	171,658
	Expenditure			188,655	168,428
	Profit			365	3,230
17.	Debtors
				31 Mar	31 Mar
				2023	2022 f
	Trade debtors			12,602
	Amounts due	from subsidiary	undertakings	59,215	89,016
	Prepayments	and accrued income		67,447	116,986
	Other debtors			6,583	9,400
				145,847	215,402

Creditors: amounts f	alling due within one year
		31 Mar	31 Mar
		2023	2022
		5	F
Trade creditors		38,763	19,034
Other tax and social security		9,931	7,407
Accruals and deferred	income	51,923	39,171
Other creditors		13,063	10,056
		113,680	75,658

Movement	on the deferre	d income account	is as follows:
				31 Mar	31 Mar
				2023	2022
					f
Deferred	income brought	forward		16,816	11,823
Movement	in membership	income received	in respect offuture
accounting	periods			6,349	4,993
Deferred income carried		forward		23,165	16,816

				31 Mar	31 Mar
				2023	2022
					f
Due	within	one	year

			Balance at				Balance at
2023			1 Apr 2022 6	Income 6	Expenditure 6	Transfers 6	31 Mar 2023 f
GeneralFunds			373,386	545,901	(759,488)	164,250	324,049
Designated	Funds:
Maintenance
Contingency	Fund		124,000				124,000
Covid recovery		fund	164,250			(164,250)
			288,250			(164,250)	124,000
Total			661,636	545,901	(759,488)		448,049
			Balance at				Balance at
2022			1 Apr 2021 6	Income 6	Expenditure F	Transfers f	31 Mar 2022 6
General Funds			27,989	868,705	(523,308)		373,386
Designated	Funds:
Maintenance
Contingency	Fund		124,000				124,000
Covid recovery		fund	164,250				164,250
			288,250				288,250
Total			316,239	868,705	(523,308)		661,636

Restricted	funds
		Balance at					Balance at
2023		1 Apr 2022 E		Income f	Expenditure	Transfers E	31 Mar 2023 E
Education	projects			63,915	(37,692)		26,223
Exhibitions				99,232	(98,232)		1,000
Museums	associations		34,604		(34,604)
			34,604	163,147	(170,528)		27,223
		Balance at					Balance at
2022		1	Apr 2021 f	Income f	Expenditure E	Transfers f.	31 Mar 2022 E
Education	projects		9,875	1,000	(10,875)
Garfield INeston
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

Analysis ofnet as	sets between funds
		Unrestricted	Restricted	Total Funds
		Funds	Funds	31 Mar 2023
2023		f	E	E
Fixed assets		35,100		35,100
Current assets		526,529	27,223	553,752
Creditors less than	1 year	(113,580)		(113,580)
Net assets		448,049	27,223	475,272
		Unrestricted	Restricted	Total Funds
		Funds	Funds	31 Mar 2022
2022				E
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	34,604	696,240