## ## ## ## ## |||||||Page| |---|---|---|---|---|---|---| |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
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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| ## ##