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← Saltaire Inspired Limited

2022-12-31-accounts

Company registration number: 06670913 Charity registration number: 1150701

Saltaire Inspired Limited

(A company limited by share capital) Annual Report and Financial Statements for the Year Ended 31 December 2022

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 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 13

Saltaire Inspired Limited

Reference and Administrative Details

Charity Registration Number 1150701

Company Registration Number 06670913

The charity is incorporated in the United Kingdom.

Registered Office

Accountants

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

Page 1

Saltaire Inspired Limited

Trustees' Report

SALTAIRE INSPIRED LIMITED

REPORT of the TRUSTEES

FOR THE PERIOD ENDED 31st DECEMBER 2022

The Trustees, who are also the directors of the company for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.

STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

No Director shall be liable to retire by rotation.

The Directors may from time to time increase or decrease the numbers of Directors.

The Board of Directors shall have power at any time to appoint any person to be a member of the Board of Directors, either to fill a casual vacancy or as an addition to the existing members but so that the total number of Directors shall not at any time exceed any maximum number fixed in accordance with the Articles.

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.

Page 2

Saltaire Inspired Limited

Trustees' Report

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.

OBJECTIVES AND ACTIVITIES

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. We create art and community events in the unique spaces of Saltaire and present exciting and challenging contemporary visual art in accessible settings, inspiring people of all ages and backgrounds to take part.

ACHIEVEMENTS AND PERFORMANCE

The charity usually runs three key events each year; Saltaire Arts Trail, 2 Makers fairs and the Living Advent Calendar. We endeavored to carry out our usual programme of events but due to the covid-19 pandemic, we had to make alterations to make this safe.

In 2022, we ran the following events:

i) Open Village

The Saltaire Arts Trail happened over the early Bank Holiday Weekend, 30th April – 2nd May 2022. This is a change from our usual late Bank Holiday weekend. The village was host to 50 artists over 18 locations. We also partnered with Wharf Street Studio, Shipley, to showcase the artists and makers in this studio and widen our reach into Shipley. This is a partnership we look forward to developing in the future.

As part of the Open Village, our artist intern successfully presented Student Showcase. As part of this, 8 artists across the BA and MA Visual Art programmes presented existing work from their final year projects. Student Showcase was presented at Salts Mill in a gallery off the main foyer for 3 days during Saltaire Arts Trail and was attended by 387 visitors.

Page 3

Saltaire Inspired Limited

Trustees' Report

ii) Makers fair (Arts Trail)

The Saltaire Makers Fair, as part of the Saltaire Arts Trail, ran for three days over the early Bank Holiday Weekend, showcasing the work of over 65 artists, designers and makers. New for 2022 was the involvement of Shipley College Level 3 Art and Design students who had been creating work across a range of art forms including print, paint ceramics and crochet. This was greatly received as an opportunity for these young emerging artists to exhibit their work in their local area alongside professional artists and designers.

iii) Special exhibitions

There were 7 exhibitions, two were initiated and directed by Saltaire Inspired. Others presented in partnership with other local arts organisations, businesses and community groups. The main exhibition dfor SAT 2022 was My Crazy Family Golf (MCFG) by Lisa Watts: originally commissioned by John Hansard Gallery, Southampton was presented in Salts Mill roof space adjacent to Salts Mill’s own exhibition of David Hockney’s new work A Year in Normandie. MCFG ran 30th April – 2nd May and 3x subsequent weekends, 9 days in total opening 11am-4pm to the public free of charge. It was hugely popular with families, children and young people and whilst it benefited from footfall to the Hockney exhibition next door, it developed its own following and repeat visitors via word of mouth. Audience feedback centred on how accessible it was but also how relevant, moving and affecting the back story to the installation was, with interpretive panels and accompanying film, ‘Dad Cares’. MCFG attracted 2,232 visitors over 9 days. Other exhibitions included Saltaire Art Group at Saltaire Methodist Church, Bingley Camera Club at Holding Space Gallery, Allan Brack & Jake Attree at Half Moon Café in Roberts Park, Saltaire Arts School, Charlie Taylor and Lauren Marshall at Salts Works and Benjamin James Holden at Cap & Collar.

iv) Workshops

There were 6 workshop activities. Lisa Watts’ exhibition was accompanied by 6 ‘Make Your Own Marble Labyrinth’ workshops inspired by MCFG. Inspired by the theme of the exhibition, participation was targeted primarily at local people acting as carers through a partnership with Carer’s Resource and 79 people took part. Other workshops included print making at The People Powered Press and INKERS, drawing with Saltaire Arts School and Jake Attree and colouring and captioning with Allan Brack. All workshops were free and open to children and adults.

v) Saltaire Maker Fair September 2022

46 designer makers were selected via an external panel to exhibit their work in Victoria Hall over the 2-day event.

This event took place within the period of National Mourning following the death of the Queen on 8th September, and the weekend before the State Funeral on Monday 19th. Saltaire Festival, which was postponed at short notice following the announcement of the Queen’s death, meant that SI had to undertake additional marketing strategies to ensure audiences were aware of our event going ahead without the Festival. Footfall was good, however was lower than expected levels due to this.

Page 4

Saltaire Inspired Limited

Trustees' Report

vi) Saltaire Living Advent Calendar December 2022

The Saltaire Living Advent Calendar has been a feature of Saltaire since 2006. This year, 56 windows opened in the run up to Christmas, with 15 businesses and community buildings illuminated from 1st December, then at least one new window being ‘opened’ each evening until 24th December. Windows are illuminated from 4pm – 10.30pm each evening, and all remain lit until the 1st of January. Window designs remain a secret until they are revealed at 4pm on their light-up date, and typically include traditional and modern festive scenes, quirky characters and tales influenced by Saltaire, culture, and the window creators own lives and experiences. For those unable to visit in person, the event has a loyal following across the world through social media, and window designs are revealed each evening on our interactive map as well as on Facebook, Twitter and Instagram. The windows were also displayed on the interactive map via our NEW website.

In addition, in partnership with Rydal Museum, Mark, Sweden (built at the same time as Salts Mill ) we were for the fourth year, able to host a window by them. Rydals museum (mark.se/rydalsmuseum) was formerly a working textiles mill, and in 2019 we developed a partnership and helped them create their own Living Advent Calendar. We are in turn sending a window design, created by Cactus Crew (a Shipley-based Youth Enterprise group run by Sponge Tree as part of Ignite Yorkshire) to be included in their 2022 event. We are currently involved in a EU partnership programme with 21 other EU regions focused on regenerative cultural heritage experiences in de-industrialised locations.

New for this year we were able to plan for the animation of The Grade II Listed red telephone box at Wash House Gardens is a community asset owned by Saltaire Inspired, and was lit up from 1st December. This year’s creation is by the members of Saltaire Primary School Eco Club.

STRATEGIC PLANNING

Board Membership and Volunteers

Trustee membership consists of seven Trustees: Dr Julia Calver (Chair), David Humphreys (Treasurer), Fran Guy (Artists Lead) Dan Breeze (Governance Lead), and Sonja Keilty. Following a successful recruitment drive, Alison Levett and Glenn McCualey were also appointed trustees. Steve McConnell unfortunately had to step down due to work commitments. We would like to take this opportunity to remember Gina Pittendreigh who passed away in February 2022. Gina was a trustee and long standing supporter of the creative community in Saltaire and had taken a leave of absence as trustee in 2021 due to illness.

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.

Page 5

Saltaire Inspired Limited

Trustees' Report

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

Finance

2022 was the first year post-covid in which Saltaire Inspired was able to operate a complete set of its

3 annual events in their full format. The Accounts reflect this improved situation through the increase in the income generated from Artist Fees and Arts Trail Makers Fair entrance charges.

During the covid years, Saltaire Inspired had been carrying forward significant (by comparison with its historical position) sums of cash in its accounts. These monies had been received from successful applications to various grant funds, however, the covid restrictions had made it impossible to use these monies during the previous 2 years.

In the autumn of 2021, Saltaire Inspired presented a very impressive case to BMDC’s Cultural Fund and was successfully awarded a grant of £15,000 per annum for 3 years commencing in 2022. The above combined with the return to the standard Saltaire Inspired annual programme and the healthy cash in bank situation enabled the Trustees to take the decisions to invest in a number of areas of the Charity’s activities. These investments were focussed as follows:

from 3 to 5 contractors

As a result of this expenditure, the Charity’s reserves at the end December 22 had decreased by £6,800 to £12,000. With £12,000 of net assets, Saltaire Inspired is still in a strong position to continue with its normal programme of events throughout 2023.

Reserves policy

The building of the reserves is a key action that the board are committed to. We aim to have reserves of 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 30 August 2023 and signed on its behalf by:

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

Mr David Allen Humphreys Trustee

Page 6

Saltaire Inspired Limited

Statement of Financial Activities for the Year Ended 31 December 2022 (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 expenditure
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 expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
8		 Unrestricted
funds
£
51,889
500
52,389
(9,599)
(49,619)
(59,218)
(6,829)
(6,829)
18,863
12,034
Unrestricted
funds
£
30,617
404
31,021
(4,247)
(28,211)
(32,458)
(1,437)
(1,437)
20,300
18,863		 Total
2022
£
51,889
500
52,389
(9,599)
(49,619)
(59,218)
(6,829)
(6,829)
18,863
12,034
Total
2021
£
30,617
404
31,021
(4,247)
(28,211)
(32,458)
(1,437)
(1,437)
20,300
18,863

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 8.

The notes on pages 9 to 13 form an integral part of these financial statements. Page 7

Saltaire Inspired Limited

(Registration number: 06670913) Balance Sheet as at 31 December 2022

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		 2022
£
913
9,404
3,620
13,024
(1,903)
11,121
12,034
12,034
12,034		 2021
£
1,217
1,785
21,936
23,721
(6,075)
17,646
18,863
18,863
18,863

For the financial year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 7 to 13 were approved by the trustees, and authorised for issue on 30 August 2023 and signed on their behalf by:

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

Mr David Allen Humphreys Trustee

The notes on pages 9 to 13 form an integral part of these financial statements. Page 8

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1 Charity status

The charity is limited by share capital, incorporated in the United Kingdom.

These financial statements were authorised for issue by the trustees on 30 August 2023.

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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

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.

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.

Page 9

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

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.

Raising funds

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

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Page 10

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees 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 discretion in furtherance of the objectives of the charity.

Page 11

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

3 Taxation

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

4 Tangible fixed assets

4
Tangible fixed assets
Cost
At 1 January 2022
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
5
Debtors
Accrued income
6
Cash and cash equivalents
Cash at bank
7
Creditors: amounts falling due within one year
Accruals
8
Funds		 Furniture and
equipment
£
3,060
3,060
1,843
304
2,147
913
1,217
2022
£
9,404
2022
£
3,620
2022
£
1,903		 Total
£
3,060
3,060
1,843
304
2,147
913
1,217
2021
£
1,785
3,060
1,843
304
2,147
913
1,217
2022
£
9,404
2022
£
3,620
2022
£
1,903
2021
£
21,936
2021
£
6,075

Page 12

Saltaire Inspired Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Unrestricted funds
General
Unrestricted funds
General
9
Analysis of net assets between
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Balance at 1
January 2022
£
18,863
Balance at 1
January 2021
£
20,300
funds		 Incoming
resources
£
52,389
Incoming
resources
£
31,021		 Resources
expended
£
(59,218)
Resources
expended
£
(32,458)
Unrestricted
funds
General
£
913
13,024
(1,903)
12,034
Unrestricted
funds
General
£
1,217
23,721
(6,075)
18,863		 Balance at 31
December
2022
£
12,034
Balance at 31
December
2021
£
18,863
Total funds
at 31
December
2022
£
913
13,024
(1,903)
12,034
Total funds
at 31
December
2021
£
1,217
23,721
(6,075)
18,863

Page 13

Saltaire Inspired Limited

Detailed Statement of Financial Activities for the Year Ended 31 December 2022

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 expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2022
£
51,889
500
52,389
(9,599)
(49,619)
(59,218)
(6,829)
(6,829)
18,863
12,034		 Total
2021
£
30,617
404
31,021
(4,247)
(28,211)
(32,458)
(1,437)
(1,437)
20,300
18,863

This page does not form part of the statutory financial statements. Page 14

Saltaire Inspired Limited

Detailed Statement of Financial Activities for the Year Ended 31 December 2022

Donations and legacies
Income from charitable activities
Commissions and fees from artists
Grants
Sponsorship
Other trading activities
Donations
Raising funds
Venue / event
Accountancy fees
Bank charges
Charitable activities
Distribution costs
Artist reimbursement
Staff
Administration and overheads
Printing
Advertising
Depreciation of plant and machinery (owned)		 Total
2022
£
11,657
21,097
17,375
1,760
51,889
500
500
(8,868)
(528)
(203)
(9,599)
(1,668)
(7,686)
(27,940)
(3,394)
(4,647)
(3,980)
(304)
(49,619)		 Total
2021
£
6,464
7,001
15,002
2,150
30,617
404
404
(3,728)
(480)
(39)
(4,247)
(414)
(4,617)
(16,932)
(1,722)
(4,120)
-
(406)
(28,211)

This page does not form part of the statutory financial statements. Page 15

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Signature Dates and Times

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Signature 1

Signed by David Allen Humphreys using authentication code TG1ZL3Z6XErCo0tPRQ== at IP address 77.101.211.150, on 2023/09/22

09:17:07 Z.

David Allen Humphreys's e-mail address is: finance@saltaireinspired.org.uk.