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← Saltaire Inspired Limited

2020-12-31-accounts

Company registration number: 06670913 Charity registration number: 1150701

Saltaire Inspired Limited

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2020

Smith Butler Accountants & Business Advisors Sapper Jordan Rossi Park Otley Road Baildon West Yorkshire BD17 7AX

Saltaire Inspired Limited

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 15

Saltaire Inspired Limited

Reference and Administrative Details

Trustees Mr David Allen Humphreys Gina Kate Pittendreigh Mr Daniel James Breeze Dr Julia Calver Mr Stephen McConnell Frances Joanna Guy Ms Sonja Kielty Principal Office 9 Bromley Road Shipley BD18 4DS The charity is incorporated in the United Kingdom. Company Registration Number 06670913 Charity Registration Number 1150701 Accountants Smith Butler Accountants & Business Advisors Sapper Jordan Rossi Park Otley Road Baildon West Yorkshire BD17 7AX

Page 1

Saltaire Inspired Limited

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.

Objectives and activities

Public benefit

The principal objectives and activities of the charity are to act as an arts organisation, to use the arts to build stronger communities and inspire a healthier society in the Bradford area.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Structure, governance and management Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.

The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Page 2

Saltaire Inspired Limited

Trustees' Report

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The company was incorporated on 12th August 2008, and registered as a charity on 5th February 2013.

Recruitment and appointment of new trustees

The Directors of the company are its Trustees for the purposes of Company Law and are subject to appointment, and retirement, under the rules set out in the Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

The Trustees are appointed subject to the recommendation of existing Trustees provided that they are aged 18 years or more. In recruiting Trustees the board seeks to ensure that the needs of the charity are appropriately reflected through the diverse interests and skills of the Trustees body as a whole. Newly appointed Trustees retire from office at the next following Annual General Meeting of the charity then they, being willing, may stand for re-election.

The Trustees are subject to retirement by rotation in accordance with the Articles of Association. The number nearest to one third will retire at each Annual General Meeting; these trustees may then stand for re-election. The number of Trustees shall not be less than three.

Induction and Training of new Trustees

New Trustees are provided with a copy of the most recent accounts of the charity and a copy of its governing documents, as well as any other documents produced by the charity, together with an explanation from the Chair and other Trustees of the manner in which the charity is organised and managed, and includes:

All Trustees are encouraged to maintain an up-to-date understanding of their responsibilities by taking advantage of any relevant external training events and publications issued by the Charity Commission.

Organisational Structure

The board of Trustees is responsible for the overall management and control of the activities of the charity and meets approximately every month, and as required if additional meetings are necessary.

Risk Management

The Trustees are responsible for the management of the risks faced by the charity and have reviewed the major risks, and measures for mitigation, as part of a continual process. They are satisfied that the process adopted is adequate to identify and mitigate any impact which such risks might have on the charity or its activities in the future.

Page 3

Saltaire Inspired Limited

Trustees' Report

ACHIEVEMENTS AND PERFORMANCE

The charity usually runs three key events each year; Saltaire Arts Trail, 2 Makers fairs and the Living Advent Calendar. Due to the COVID - 19 pandemic, our programme of events changed.

In 2020, we ran the following events: (i) 3 Virtual Exhibitions (ii) Virtual Makers Fair (iii) Makers Fair Pop Up Shop

(iv) Saltaire Living Advent Calendar (LAC), throughout December 2020

Saltaire Arts Trail May 2020

The limitations of physical distancing and government restrictions on large events lead us to cancel the physical Saltaire Arts Trail event, the highest profile and largest income generating project in our annual programme. Despite this, we were proud to exhibit the Saltaire Arts Trail in a digital format.

Although we were sadly not able to share 114 artists selected for this year's Arts Trail in person, due to the cancellation of the event, we were able to share them in an enhanced online Artists Gallery. Each artist was presented online with information, images and in some cases videos and articles giving an insight into their work, as well links to their websites, online shops and social media profiles. Those artists and designers who did not have a website were able to use ShopAppy - a partnership established with Saltaire Inspired. This provided artists with an online platform to sell their work.

Saltaire Arts Trail - Student House

The premise of Student House came from years of well-loved Saltaire Arts Trail events - created by Saltaire Inspired during which the village of Saltaire became one giant collaborative platform for the arts. The streets were bustling with people and local residents offer up their Grade II listed homes, welcoming artists from across the region to exhibit inside. In 2019, Saltaire Inspired made the decision to create a branch of the Arts Trail dedicated to showcasing talent from the students of Bradford School of Art - and so, the birth of Student House. As part of this new endeavor, it was decided that this programme would be delivered and coordinated by a newly appointed intern, a recent art graduate who could relate personally to the project.

Partnerships were made and plans progressed and then the Covid-19 pandemic hit, pulling the rug out from under us. Our first ever Student House (No.6 Titus Street) was no longer an option and it was back to the drawing board. With a passion for the project and ever-growing sympathy for the students who had lost opportunities to exhibit their work, we decided to take Student House digital. As this was the debut year, we had a blank canvas to work with, meaning we could design a platform with as much fluidity and freedom as possible, and create something which doesn't strive to replicate a white-walled gallery but instead encompasses all the quirks and personality that you would expect from a Saltaire Inspired event. The twelve students attended workshops organised by Saltaire Inspired and reimagined their work to be exhibited through a dedicated website.

Page 4

Saltaire Inspired Limited

Trustees' Report

Saltaire Arts Trail - Humanising by BIASAN - a group exhibition by refugees and asylum seekers, jointly curated with artist Mussarat Rahman

Humanising was a group exhibition by refugees and asylum seekers from BIASAN in Bradford, jointly curated with artist Mussarat Rahman. The exhibition was about humanising people rather than showing them as victims, showing the amount of positive emotions, mental health and wellbeing such as: joy, love, passion, happiness, pleasure and others expressed. The emphasis of the exhibition was about engaging the BIASAN (Bradford Immigration and Asylum Support & Advice Network) community into an exhibition, giving the group a platform which shows their positive contribution to British society and how they are involved in communities, actively taking part in social hubs and diverse networks. This exhibition was reimagined in a virtual gallery.

Saltaire Arts Trail - Creating Together - Dancing with Parkinsons; a documentary film by Ascendance

Dancing with Parkinson's was set to be a key part of the live programme at Saltaire Arts Trail 2020. This unique virtual reality tour of heritage locations in the village featuring film directed by local filmmaker Lucy Barker and choreography (on film and live) by Ascendance Rep Artistic Director Rachel Wesson has been developed over nearly two years through dance classes and workshops for local people living with Parkinson's. Due to the Covid-19 Pandemic, this project went on hold, but we were able to launch a documentary film - Creating Together - as part of the Saltaire Arts Trail Digital programme. Creating Together is an uplifting documentary about the effect which dancing together has on a group of people with Parkinson's Disease, a condition which challenges balance, coordination and cognition. It explores the extraordinary work which dance teacher Rachel Wesson's company, Ascendance Rep, does with a group meeting weekly to dance together amidst the stunning surroundings of Victoria Hall, Saltaire. Bradford film artist Lucy Barker and Ascendance Rep were awarded National Lottery Funding to capture the mutually rewarding experiences of participants and artists, shown both in intimate conversation and in dance performance together. The hugely positive impact on participants' health and wellbeing is brought into sharp and inspiring focus.

Virtual Makers Fair May 2020

In May 2020 we launched our successful Virtual Makers Fairs in partnership with ShopAppy. Selling work from a selection of the UK's finest designer-makers, this event allowed customers to browse and buy from the comfort of their own home. The event took place from Saturday 23rd May to Sunday 7th June, to allow for an extended browsing and shopping period. Out of a total of 114 artists due to take part in the Open Houses and Makers Fair, a total of 64 took part in the Virtual Makers Fair. This platform provided the makers a vital income stream when markets and fairs had been cancelled for the foreseeable future. During the period of the Virtual Makers Fair, ShopAppy received over 24,000 unique page views.

A professional development programme was devised specifically for artists wishing to use ShopAppy to give them insight on how to present work online and use the payment system. This was also a first ‘online gallery event’ for Bradford based ShopAppy, which has now led to them hosting more events around the UK.

Page 5

Saltaire Inspired Limited

Trustees' Report

Makers Fair Pop Up Shop Autumn 2020

From October - December 2020, we were delighted to present Saltaire Makers Fair Pop-Up, a temporary gallery where audiences could browse and buy from a rotating selection of their favourite Saltaire Makers Fair artists. We successfully secured a retail space in the heart of Saltaire providing trading opportunities for 16 designers and makers at the end of a turbulent year. We also continued our partnership with ShopAppy to run another Virtual Makers Fair alongside the Pop-Up giving an online retail presence and promotion to a further 18 artists. Unfortunately, due to another national lockdown, we had to temporarily close the Pop-Up Shop during November. We successfully rescheduled the artists into one week blocks to allow them trading opportunities in the run up to Christmas. Over the course of the Pop-Up event, we welcomed 368 visitors.

Saltaire Living Advent Calendar December 2020

The Saltaire Living Advent Calendar has been a feature of our village since 2006. In 2020, a record 55 windows were opened in the run up to Christmas, with 16 houses and community buildings illuminated from 1st December, then at least one new window being ‘opened’ each evening until 24th December. We were pleased to be able to run this event in a COVID secure manner and feedback shows that it was well received at the end of an unusual year. These consisted of 40 households, 4 hosted windows and 11 additional community locations. Additional locations included Saltaire Methodist Church, Edward Street Bakery, NHS Trust New Mill, Shipley College, Saltaire United Reform Church and Saltaire Primary School.

This year Saltaire Inspired continued our partnership with Rydals Museum (formerly a Mill) in Sweden and developed a new partnership with Stromness Community Development Trust, Orkney. To mark the partnerships, one of our volunteers created windows that were featured in the Rydals and Stromness living advent calendars and they sent windows that were illuminated as part of our Living Advent Calendar. We also worked with the Cactus Crew. The Cactus crew are a creative youth enterprise group, inspired by heritage. We were pleased to exhibit two windows that were created by the young as part of the trail.

Due to social distancing restrictions, we unfortunately could not run our usual workshop. An online hints and tips blog with posts from previous window makers was posted and shared with this year's participants. We also shared this and provided further support to 7 other living advent calendars around the country that were running for the first time in 2020.

Windows were photographed by volunteers and posted on social media. A digital guide brochure and posters were created and shared around the surrounding areas and through our social media channels. During the LAC, Christmas Cards featuring the windows from 2019 were produced and sold.

LOOK UP! was a specially commissioned window by Saltaire Inspired with thanks to Salt’s Mill and used public funding from Arts Council England and Bradford Council. The commissioned window was designed and created by Ben Holden, an artist, designer, printer and musician from Bradford. His approach to work is always fun, colourful, bold and abstract. He likes to combine functionality with abstraction, form, typography and poppy colour to make playful design and art. A limited edition digital print of LOOK UP! was available to buy in support of NHS Better Lives, the official charity of Bradford District Care NHS Foundation Trust.

Page 6

Saltaire Inspired Limited

Trustees' Report

Strategic Planning

Board Membership and Volunteers

Trustee membership consists of five Trustees: Dr Julia Calver (Chair), David Humphreys (Treasurer), Steve McConnell (Volunteer Lead), Fran Guy (Artists Lead) Dan Breeze (Governance and Education Lead). There was a recruitment drive throughout the year which had attracted some interest followed by a number of discussions this resulted in two new trustees: Gina Pittendreigh (local arts trader) and Sonja Keilty (Bradford Arts and Museums Service).

Staffing

When funds are available, freelancers are appointed with a specific contract and work with the Board of Trustees to develop and deliver a programme.

• Event Coordinator: Peter Reed, freelancer, first recruited in November 2018 and develops special commissions, Arts Council/ strategic bids and coordinates the events overall

• Artist Coordinator: Samantha Pickard is a freelancer coordinating the Makers Fair as well as Artist Liaison Coordinator. Samantha leads on selection and recruitment of artists, exhibitors and liaison with the panel.

• Marketing Manager: Gillian Allmark as a freelancer developing managing all online and social media coverage as well as producing the Arts Trail brochure, publicity leaflets and maps for the events. Gillian provides both media and distribution plans for each event.

• Artist Coordinator Intern: Saltaire Inspired continues to support professional development for artists and practitioners whether it is through rigorous feedback on applications, to running skills development to increase confidence and involvement or run network events for participants. This year the Team was able to recruit a graduate to work with the Artist Coordinator to deliver the Student House in partnership with Bradford Art School.

Throughout the period a team of locally based volunteers are recruited, with a core group of loyal and supportive locals.

Finance

Despite the pandemic, Bradford Council continued to support Saltaire Inspired, rolling over £6,500 for a further 12 months from the Arts & Culture Investment Fund. This fund contributes to the fees for the Events Coordinator.

There was a bid made to Arts Council England and this was successful enabling Saltaire Inspired to begin working with artist Claire Tindale to develop a special commission for Salts Mill. This project was not possible to continue due to the pandemic and will resume for 2021 programme.

Due to the COVID-19 pandemic, the charity saw a significant loss in self-generated income including; lost admissions and trail guide sales income, pitch and participation fees from artists, advertising revenue from local business and sales. This saw this income reduce by £31,394 in comparison to 2019. To contextualise, this figure represents over 50% of our expected annual turnover.

Page 7

Saltaire Inspired Limited

Trustees' Report

Some of this lost income has been recovered through an award from ACE Emergency Response Fund (non NPO) for £11,350 and BMDC. We were also in receipt of an Arts Council project award. Other costs were mitigated through the digitisation of our SAT 2020 programme.

The closing balance shows a healthy cash position at the end of 2020 due to ACE monies being received but only being partially spent. However, we have Creditors of over £9000 in Accruals to cover Artists costs where funds have been received and that were planned to be spent in 2020 and were eventually spent in 2021.

Reserves policy

The building of the reserves is a key action that the board are committed to. Due to the pandemic, these have been utilised however we aim to build them to the appropriate level equivalent to at least 10% of the cost of organising the Saltaire Arts Trail. Our policy is to build up reserves to this level through annual operating surpluses in future years.

The annual report was approved by the trustees of the charity on 5 August 2021 and signed on its behalf by:

......................................... Mr David Allen Humphreys Trustee

Page 8

Saltaire Inspired Limited

Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
Other trading activities
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
8
Note
Income and Endowments from:
Donations and legacies
Other trading activities
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
8		 Unrestricted
funds
£
32,915
1,508
34,423
(2,443)
(23,603)
(26,046)
8,377
8,377
11,923
20,300
Unrestricted
funds
£
45,867
11
45,878
(9,214)
(29,461)
(38,675)
7,203
7,203
4,720
11,923		 Unrestricted
funds
£
32,915
1,508		 Total
2020
£
32,915
1,508
34,423 34,423
(2,443)
(23,603)		 (2,443)
(23,603)
(26,046) (26,046)
8,377 8,377
8,377
11,923		 8,377
11,923
20,300 20,300
Total
2019
£
45,867
11
45,878
(9,214)
(29,461)
(38,675)
7,203
7,203
4,720
11,923

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 8.

The notes on pages 11 to 15 form an integral part of these financial statements. Page 9

Saltaire Inspired Limited

(Registration number: 06670913) Balance Sheet as at 31 December 2020

Note
Fixed assets
Tangible assets
4
Current assets
Debtors
5
Cash at bank and in hand
6
Creditors: Amounts falling due within one year
7
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
8		 2020
£
1,623
1,113
26,755
27,868
(9,191)
18,677
20,300
20,300
20,300		 2019
£
2,121
358
11,774
12,132
(2,330)
9,802
11,923
11,923
11,923

For the financial year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 9 to 15 were approved by the trustees, and authorised for issue on 5 August 2021 and signed on their behalf by:

.........................................

Mr David Allen Humphreys Trustee

The notes on pages 11 to 15 form an integral part of these financial statements. Page 10

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

1 Charity status

The charity is limited by guarantee, incorporated in the United Kingdom, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

These financial statements were authorised for issue by the trustees on 5 August 2021.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Saltaire Inspired Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Page 11

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

Transition to FRS 102

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was required. No restatements are required as a result of the transition to FRS 102.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Gifts in kind

Gifts in kind are recognised in different ways dependent on how they are used by the charity:

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised.

(ii) Those donated for onward transmission to beneficiaries are included in the Statement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.

(iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them.

Donated services and facilities

Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at it's fair value unless it's fair value cannot be reliably measured, then at the cost to the donor or the resale value of goods that are to be sold.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Page 12

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Page 13

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

3 Taxation

The charity is a registered charity and is therefore exempt from taxation.

4 Tangible fixed assets

Cost
At 1 January 2020
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
5
Debtors
Prepayments
Accrued income
6
Cash and cash equivalents
Cash at bank
7
Creditors: amounts falling due within one year
Accruals		 Furniture and
equipment
£
3,060
3,060
939
498
1,437
1,623
2,121
2020
£
-
1,113
1,113
2020
£
26,755
2020
£
9,191		 Furniture and
equipment
£
3,060
3,060
939
498
1,437
1,623
2,121
2020
£
-
1,113
1,113
2020
£
26,755
2020
£
9,191		 Total
£
3,060
3,060
939
498
1,437
1,623
2,121
2019
£
59
299
3,060
939
498
1,437
1,623
2,121
2020
£
-
1,113
1,113
2020
£
26,755
2020
£
9,191
358
2019
£
11,774
2019
£
2,330

Page 14

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2020

8 Funds

8
Funds
Unrestricted funds
General
Unrestricted funds
General		 Balance at 1
January 2020
£
11,923
Balance at 1
January 2019
£
4,720		 Incoming
resources
£
34,423
Incoming
resources
£
45,878		 Resources
expended
£
(26,046)
Resources
expended
£
(38,675)		 Balance at 31
December
2020
£
20,300
Balance at 31
December
2019
£
11,923

9 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
1,623
27,868
(9,191)
20,300
Unrestricted
funds
General
£
2,121
12,132
(2,330)
11,923		 Total funds
at 31
December
2020
£
1,623
27,868
(9,191)
20,300
Total funds
at 31
December
2019
£
2,121
12,132
(2,330)
11,923

Page 15

Saltaire Inspired Limited

Detailed Statement of Financial Activities for the Year Ended 31 December 2020

Income and Endowments from:
Donations and legacies (analysed below)
Other trading activities (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2020
£
32,915
1,508
34,423
(2,443)
(23,603)
(26,046)
8,377
8,377
11,923
20,300		 Total
2019
£
45,867
11
45,878
(9,214)
(29,461)
(38,675)
7,203
7,203
4,720
11,923

This page does not form part of the statutory financial statements. Page 16

Saltaire Inspired Limited

Detailed Statement of Financial Activities for the Year Ended 31 December 2020

Donations and legacies
Income from charitable activities
Commissions and fees from artists
Grants
Sponsorship
Other trading activities
Donations
Raising funds
Venue / event
Accountancy fees
Charitable activities
Distribution costs
Artist reimbursement
Staff
Administration and overheads
Printing
Donations
Advertising
Depreciation of plant and machinery (owned)		 Total
2020
£
3,934
1,014
27,567
400
32,915
1,508
1,508
(2,613)
170
(2,443)
-
(6,652)
(12,685)
(1,971)
(1,796)
-
-
(499)
(23,603)		 Total
2019
£
15,665
20,121
9,125
956
45,867
11
11
(8,734)
(480)
(9,214)
(1,960)
(2,142)
(18,750)
(1,246)
(3,455)
(556)
(690)
(662)
(29,461)

This page does not form part of the statutory financial statements. Page 17

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