REGISTERED CHARITY NUMBER: 1150658
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Barnes Community Arts Centre
Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD
Barnes Community Arts Centre
Contents of the Financial Statements for the year ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
Barnes Community Arts Centre
Report of the Trustees for the year ended 31 March 2023
BACKGROUND
The Old Sorting Office Arts Centre (OSO) is a 3,000 square foot venue to the rear of the converted postal sorting office on Barnes Green SW13. Designated by the London Borough of Richmond upon Thames for community use, it was leased in 2000 to the trustees of a charity formed by members of the local community, for use as an arts centre. The venue is a cherished community asset and over the years has played host to many acclaimed theatrical productions and arts-based community events.
A group of local residents, which includes Patrick Van den Bergh (ex Chair of the Barnes Community Players) and Simon Danciger (ex Chair of Governors at Richmond Park Academy), form the current board of trustees of the OSO Arts Centre, registered with the Charity Commission as a CIO under the name Barnes Community Arts Centre.
The objective of the trustees is to promote, maintain, improve and advance education and appreciation of the arts in all forms among the people of Barnes and the surrounding area.
REVIEW OF 2022-23
The OSO continued to recover from the disruption caused by the COVID 19 pandemic. Audience numbers, although weaker than anticipated early in the year, picked up as the year progressed. Trading activities were up on 2021-22, led by a 20% increase in ticket sales revenue vly. However, the increased cost of energy, food and general supplies, along with an 18% rise in staff costs and a doubling of our marketing spend, meant that the OSO made an unprecedented operating loss of £67k. However, grant income received during the pandemic, particularly from the Culture Recovery Fund, meant that the OSO was able to cover this operating loss while still protecting our reserves, and we ended the year with net assets of £104k.
Despite the financial loss, the OSO continued to grow and improve, with further infrastructure improvements, higher quality programming, and a growing group of passionate volunteers working alongside our payroll staff.
Our new membership programme quickly attracted two hundred joiners and our preview events for members have been very well received.
We carried out our first-ever attitudes survey, both to our existing database and to our wider local community. While response rate was lower than hoped for, we have learnt much from the exercise. Visitors typically have a positive experience and are keen to revisit. However, we still have work to do to raise awareness of the OSO and our professional-level programme amongst our local community. More effective messaging will be key to growth, both at 'brand' and programme level.
Ticket sales were once again buoyed by our outdoor Summer Festival, with events taking place on Barnes Green. This agreement with LBRuT gives us the opportunity to stage events for up to 500 people against an indoor fire limit capacity of 150. The proven success of the Festival points the way to generating significant ticket income while providing programming accessible to a large audience.
Our café offer continues to impress our cafe visitors, and once again our wonderful Chef, Yanete, is worthy of individual praise in this report
LOOKING AHEAD TO 2023-24
With our programming continuing to improve, our focus now must be on how we market the OSO, in particular to the many local people who have yet to discover their local arts venue. Increasing our house sizes by just five extra tickets sold per performance will make a step-change difference in our financial position while enabling us to attract productions.
One key way we can achieve this is by converting day-time visitors to our cafe and classes into ticket-purchasers. To this end, we need to orientate our day-time service better towards promotion of our programme.
We will continue to develop our relationship and gain visibility within the arts industry and so secure shows that will enhance the credibility of the OSO as a serious London Fringe venue. In turn, this will also help us to grow our audience numbers.
Page 1
Barnes Community Arts Centre
Report of the Trustees for the year ended 31 March 2023
While we were able to ride out the operating loss in 2022/3, this is not something we can allow to continue. In 2023/4, we need to return to a positive operating position. There is limited scope to achieve this through reducing costs (though we will continue to pay careful attention to expenditure), so the financial improvement needs to come on the income side, with ticket sales being the best route to improved performance.
THANKS
In October 2022, we marked the 10 year anniversary of the new OSO constituted charity. Undoubtedly, as trustees, our best decision in all the ten years was to appoint the indefatigable Lisa Ross as our Arts Centre General Manager. Lisa lives and breathes the OSO, and continues to lead the team with passion and commitment.
Lydia Sax, as our new Artistic Director, has taken our programming to new heights, while Patrick has done a superb job as our Technical Manager, and we are sorry to see him go to pastures new.
Our staff team, a mix of faces old(er!) and new across the year, continue to support the management team with enthusiasm and graft, and I would particularly like to turn the spotlight on to Mairin Van Den Bergh, who has been with us throughout our ten years, always cheerful and 'can-do'.
From helping with our book-keeping and accounts, providing legal and process support, fundraising activities, purchasing, café and bar stock control to helping front of house, our volunteers continue to be at the heart of everything we do. We remain very fortunate to have such a passionate and engaged group of both staff and volunteers.
FINANCIAL REVIEW
Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1150658
Principal address
49 Station Road Barnes SW13 0LF
Trustees
Mr S Danciger Mr M Lumsden Mr P Van den Bergh Mrs S Coussins Ms J A E Dangoor Ms S Carruthers Mr J Rycroft Mr R M Arnfield
Page 2
Barnes Community Arts Centre
Report of the Trustees for the year ended 31 March 2023
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD
Approved by order of the board of trustees on 13 September 2023 and signed on its behalf by:
Mr S Danciger - Trustee
Page 3
Independent Examiner's Report to the Trustees of Barnes Community Arts Centre
Independent examiner's report to the trustees of Barnes Community Arts Centre
I report to the charity trustees on my examination of the accounts of Barnes Community Arts Centre (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michael Lerman
Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HA1 1UD
13 September 2023
Page 4
Barnes Community Arts Centre
Statement of Financial Activities for the year ended 31 March 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 23,003 Charitable activities Grant income 1,000 Other trading activities 3 466,994 Investment income 4 374 Total 491,371 EXPENDITURE ON Raising funds 260,305 Charitable activities Charitable activities (14,839) Overheads 241,944 Other 47,010 Total 534,420 NET INCOME/(EXPENDITURE) (43,049) RECONCILIATION OF FUNDS Total funds brought forward 146,964 TOTAL FUNDS CARRIED FORWARD 103,915 |
Restricted funds £ - - - - - - 14,839 - 8,984 23,823 (23,823) 23,823 - |
2023 Total funds £ 23,003 1,000 466,994 374 491,371 260,305 - 241,944 55,994 558,243 (66,872) 170,787 103,915 |
2022 Total funds £ 3,582 58,204 420,220 7 482,013 201,528 (126) 205,149 53,206 459,757 22,256 148,531 170,787 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
Barnes Community Arts Centre
Balance Sheet 31 March 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 40,386 CURRENT ASSETS Stocks 9 2,481 Debtors 10 3,730 Cash at bank and in hand 126,275 132,486 CREDITORS Amounts falling due within one year 11 (68,957) NET CURRENT ASSETS 63,529 TOTAL ASSETS LESS CURRENT LIABILITIES 103,915 NET ASSETS 103,915 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - - |
2023 Total funds £ 40,386 2,481 3,730 126,275 132,486 (68,957) 63,529 103,915 103,915 103,915 - 103,915 |
2022 Total funds £ 28,156 2,602 10,366 193,407 206,375 (63,744) 142,631 170,787 170,787 146,964 23,823 170,787 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 13 September 2023 and were signed on its behalf by:
Mr S Danciger - Trustee
The notes form part of these financial statements
Page 6
Barnes Community Arts Centre
Notes to the Financial Statements for the year ended 31 March 2023
1. ACCOUNTING POLICIES
Company information
Barnes Community Arts Centre is a charitable incorporated organisation (CIO), Charity Registration number 1150658, registered on 31 January 2013 and is governed by the constitution which established the objects and power of the charitable organisation. The registered address is 49 Station Road,Barnes, London SW13 0LF.
Accounting framework
The accounts have been prepared in accordance with the charity's governing documents, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Incoming resources
Income include ticket sales, income from the café and bar sales as well as venue hire rendered during the year. Income is recognised when the charity is legally entitled to it after performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt.
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and other sales related taxes.
Resources expended
Resources expended are recognised in the year in which they are incurred.
Expenditure for charitable purposes
Charitable expenditure includes all expenditure related to the objectives of the charity and comprises the costs of providing theatre and live performance, art exhibitions, dance and music classes as well as the costs of running the bar and café. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.
Support and governance costs
Costs represent expenditure incurred in the management of the company's assets, organisational administration and compliance with constitutional and statutory requirements. These costs are apportioned across the activities on the basis of an estimate of the proportion of income from those activities.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost and 10% Straight line Computer equipment - 33% on cost
Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises food and drink purchased for the café and bar and are measured at cost
continued...
Page 7
Barnes Community Arts Centre
Notes to the Financial Statements - continued for the year ended 31 March 2023
1. ACCOUNTING POLICIES - continued
Stocks
Net realisable value is the estimated selling price less any costs to be incurred in marketing, selling and distribution.
Taxation
The charity is exempt from tax on its charitable activities.
Charitable funds
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future period.
3. OTHER TRADING ACTIVITIES
| Unrestricted funds £ Café income 224,624 Venue hire 46,826 Ticket sales 183,987 Sponsorships received 3,500 Bird seed sales 8,057 466,994 |
Restricted funds £ - - - - - - |
2023 Total funds £ 224,624 46,826 183,987 3,500 8,057 466,994 |
2022 Total funds £ 225,750 28,826 153,020 3,000 9,624 |
|---|---|---|---|
| 420,220 |
continued...
Page 8
Barnes Community Arts Centre
Notes to the Financial Statements - continued for the year ended 31 March 2023
4. INVESTMENT INCOME
| INVESTMENT INCOME | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| Deposit account interest | 374 | - | 374 | 7 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
7.
| Staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 3,582 Charitable activities Grant income 58,204 Other trading activities 420,220 Investment income 7 Total 482,013 EXPENDITURE ON Raising funds 201,528 Charitable activities Charitable activities (126) Overheads 205,149 Other 48,927 Total 455,478 NET INCOME/(EXPENDITURE) 26,535 |
2023 22 Restricted funds £ - - - - - - - - 4,279 4,279 (4,279) |
2022 18 Total funds £ 3,582 58,204 420,220 7 482,013 201,528 (126) 205,149 53,206 459,757 22,256 |
|---|---|---|
continued...
Page 9
Barnes Community Arts Centre
Notes to the Financial Statements - continued for the year ended 31 March 2023
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund funds £ £ RECONCILIATION OF FUNDS Total funds brought forward 120,429 28,102 TOTAL FUNDS CARRIED FORWARD 146,964 23,823 8. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment £ £ COST At 1 April 2022 69,102 1,950 Additions 24,216 - At 31 March 2023 93,318 1,950 DEPRECIATION At 1 April 2022 41,631 1,265 Charge for year 11,742 244 At 31 March 2023 53,373 1,509 NET BOOK VALUE At 31 March 2023 39,945 441 At 31 March 2022 27,471 685 9. STOCKS 2023 £ Stocks 2,481 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Trade debtors 1,550 Other debtors 324 Prepayments and accrued income - Prepayments 1,856 3,730 |
Total funds £ 148,531 |
|---|---|
| 170,787 | |
| Totals £ 71,052 24,216 95,268 42,896 11,986 54,882 40,386 28,156 2022 £ 2,602 2022 £ 2,041 340 7,985 - 10,366 |
continued...
Page 10
Barnes Community Arts Centre
Notes to the Financial Statements - continued for the year ended 31 March 2023
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Taxation and social security Other creditors MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Community fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Community fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Community fund TOTAL FUNDS |
At 1.4.22 £ 146,964 23,823 170,787 Incoming resources £ 491,371 - 491,371 At 1.4.21 £ 120,429 28,102 148,531 |
2023 2022 £ £ 15,560 21,046 7,594 8,238 45,803 34,460 68,957 63,744 Net movement At in funds 31.3.23 £ £ (43,049) 103,915 (23,823) - (66,872) 103,915 Resources Movement expended in funds £ £ (534,420) (43,049) (23,823) (23,823) (558,243) (66,872) Net movement At in funds 31.3.22 £ £ 26,535 146,964 (4,279) 23,823 22,256 170,787 |
|---|---|---|
12. MOVEMENT IN FUNDS
continued...
Page 11
Barnes Community Arts Centre
Notes to the Financial Statements - continued for the year ended 31 March 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Community fund TOTAL FUNDS |
Incoming resources £ 482,013 - 482,013 |
Resources Movement expended in funds £ £ (455,478) 26,535 (4,279) (4,279) (459,757) 22,256 |
Resources Movement expended in funds £ £ (455,478) 26,535 (4,279) (4,279) (459,757) 22,256 |
|---|---|---|---|
| 22,256 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Community fund TOTAL FUNDS |
At 1.4.21 £ 120,429 28,102 148,531 |
Net movement in funds £ (16,514) (28,102) (44,616) |
At 31.3.23 £ 103,915 - |
|---|---|---|---|
| 103,915 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Community fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 973,384 (989,898) (16,514) - (28,102) (28,102) 973,384 (1,018,000 ) (44,616) |
Incoming Resources Movement resources expended in funds £ £ £ 973,384 (989,898) (16,514) - (28,102) (28,102) 973,384 (1,018,000 ) (44,616) |
|---|---|---|
| (44,616) |
continued...
Page 12
Barnes Community Arts Centre
Notes to the Financial Statements - continued for the year ended 31 March 2023
13. RELATED PARTY TRANSACTIONS
During the year Mr. M. Lumsden, a trustee, carried out some construction work for the Charity. The total of the invoices issued for the work amounted to £NIL (2022: £4,018). At the balance sheet date, the Charity owed Mr. Lumsden £NIL (2022: £NIL) in respect of these invoices.
If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
14. LEASE
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.
Page 13