Charity régistratlon number 1151203 Company reglstration number 07974406 (England and Wales) CULTURE WARRINGTON ANNUAL REPORT AND FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2024
CULTURE WARRINGTON LEGAL AND ADMINISTRATIVE INFORMATION Trustees A F Appleton-mitchell M T Corfield M B3nner L M Harrison D Cslmons J L Wilkie C Persoglio C Lloyd-Fitsgerald (Appointed 6 Novernber 20231 (Appointed 21 May 20241 Charity number 1151203 Company number 07974406 Reglstered offl¢e Pyramid Arts Centre Palmyra Square South Warrington Cheshire WAI 18L Audltor Mitchell Charlesworth (Audit) Limlted S Temple Square Temple Street Liverpool L2 5RH Bankers National Westminster Bank plc 23 Sankey Street Warrington Cheshire WAI IXG Solicltors Mills & Reeve LLP 8th Floor l New York Street Manchester MI 4AD
CULTURE WARRINGTON CONTENTS Page Chairman's statement Trustee5' report Independent auditor's report 10-13 Statement of financial activltles 14 Balance sheet Is Statement of cash flows 16 Notes to the financial statements 17-31
CULTURE WARRINGTON CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2023124 was a plvotal year for the charty as we worked towards the separation from our sister company Livewire and became a standalone organlsatlon in our own right from March 2024 bringlng fantastic opportLtnities for the leading cultural organisation in Warrington. and the charity continues to thrive. Addltionally. we welcomed a new Executive Director in November 2023, followlng the departure of our Managing Director earlier in the year. These significant changes will inform the forthcoming fi¥e-year business plan and our future strateg1¢ d1ctIOn and priorities against our charitsble oblective> Followlng a successful lunding application award to us from Art5 Council England Place Partnership Fund, work toward5 a future revitallsed annual arts festival commenced, with an element of the substsntial grant supporting a team working with the community, underrepresented groups. partners and young voices to inform the pro8ramme and dellvery beyond the festival period. The receipt ot thls significant Sum is reflected in the surplus on our accounts. In addition, an increase In management fee to cover central support costs, ongolng vacancies and reduced energy costs are wmbined with a year of successful programmlng and similarly reflected in the reported surplus. Of priority in the year was working closely with consultants Herita8e Rescue on an options appraisal for Warrington Museum & Art Gallery which identified strateElc prlorltles that wlll support Culture Warrington In reflning the museum's purpose and ensure progresslon towards capitsl development. Desplte contlnued financlal uncertainties, and the similar pressures faced by our customers, we continue to see substantial increases In engagement, with 174,299 participonts taking part in our diverse events and programmes across our venues and throuBh our educatlon and outreach pro8Tamme5. Looking ahead. the upcoming redevelopment of Pyramld Arts Centre is a malor foclts. The £4.9 mllllon Project from the government's Towns Fund, wlll transform Pyramid into a modern, flexible cultural hub, enhancin8 its capacity and facllities. It 15 my belief that the last year has been significant in our development as a standalone company. Cultural activltles play an Important part in the life of the people of Warrin8ton. To our Board of Trustees, colleagues, volunteers, Warrington Borough Councll, partners, funders and all our supporters, my thanks. Together we will continue to offer a diverse programme of cultural activities. Enjoy thls Annual Report, tO8ether we a well placed to continue our exciting iourney. M Banner Chair Dated,. 10 December 2024
CULTURE WARRINGTON TRU5TEE5' REPORT (INCLUDING DIREcfoRS' REPORT) FOR niE YEAR ENDED 31 MARCH2024 The trustees present thelr report and accounts for the year ended 31 March 2024. The accounts have been prepared in accordance with the accounting policies Set out in note I to the accounts and comply with the charity'5 governing document. the Companies Act 2006 and 'Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to charitles pParIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" {as amended for accounting periods commencing from I January 20161. Public benefft The trustees have paid due regard to guidanee issued by the Charlty Commission in decidin8 what activities the charity should undertake. Objertlves and activities The objectives of the charlty, as Set out in the Articles of Association are: To advance education of and promote the arts. culture. heritage and s¢lence, in particular through providing and maintaining a museum, art gallery and concert hall: To promote communlty partlclpatlon in healthy recreatlon In particular by the provislon of facillties for the playlng of amateur sport,. The provlslon of or asslstance in the provision of facilities for iecreation or other leisure tlme occupation in the interest of social welfare such facilities being provided to the public at large save that special facillties may be provided to persons who by reason of their youth, age, infirmity or disability. poverty or social or economic ¢lrcumstances may have need of special facilities and services. Culture Warringion was formed in May 2012 as the lead organisation to deliver Arts, Heritage and Event5 in Warrington, and encompa55es three venues, Pyrarnld. Parr Hall and Warrlngton Museum & Art Gallery. As well as operating these venues Culture Warrington programmes a wide range ot events and festival5. Culture Warrington operates the Museum. Pyramld and Parr Hall on 25 year lease5 from Warrington 8orough Council at a peppercorn rent as part ot the management agreement to deliver service5. It Is impractical to assign a separate rental value to the building5.
CULTURE WARRINGTON TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Highlights of our work Pyramld and Parr Hall Programming.. We hosted a diverse range of events throughout the year, including performances from renowned and acclaimed artist5 including 8en Fogle, Frankie Boyle, Gabrlelle, Jake Bug& Jimmy Carr, Paul Smith. sarah Millican. Seann Walsh, Shed 7. 5tarsailor and Tom Allen. We continued our long-running partnership with The Comedy Store with a series of sell-out Comedy Store events at Pyiamid. Our much-loved annual pantomime kick-started 2024 with the age-old tsle of 'Jack and the Bean5talk', which achieved strong ticket sales and received excellent feedback from attendees. We diversified our programming offer with a hu8ely successful sell-out show. ADHD The Musical, which explored the hl8hs and lows of living wlth the most common neuro.development disorder worldwide. to crltical acclalm. Autism and Sea wa5 another well-received family-frlendly productlon, and we were hOnoud that the production team Chose to develop and hearse the performance in our venue due to both our accessibility and welcoming environrnent. Grass Roots Muslc The Grass Roots Muslc programme continued to flourish. with local performances taklng place In Pyramld's basement, culminating in Warrington Music Festival. Emerglng and establlshed local bands such as The Ambersons, Faitsanger, Parlours and The Odeens to name but a few took part to acclaim. The programme supports emerging talent and provides valuable performance opportunitles culmlnatin8 in Warrington Music Festival, which offers a significant platform for local artlsts. Museum and Art Gallery. The Museum and Art Gallery has been bustling with activityi creativity. and community enga8ement. From lively 'Crafternoons' to impactful exhibitions, we've seen a year full of vibrant programmes and meaningful interactions. Exhibitions The Andie Airfix exhibition was a standout, showcaslng the celebrated Warrin8ton born graphic designer known for h15 Iconlc album covers for worldwide names such as Metallica and Paul M¢Cartney and offered a unique Elimpse into his innovative approach to visual branding and art. Pete ReBan also made a significant Impart wlth his thought-provoking installation of Al-8enerated artwork. Regan's work explored the intersection of technoloBY and creativity. challenging perceptions and sparkin8 conversations about the role of artificial intelligence in the artistic process. Winner of the 2022 Warrlngton Open. Lasrna Poisa provided an intirnate portrayal of motherhood through her striking photography series, "l Became a Mother.. These exhlbition5 not only celebrated exceptional art15tic achievements but also encouraged visitors to en8aBe with contemporary Issues and ideas. Crafternoons & Holiday Activities Our family friendly craft activity sessions hève been a great success, with a total of 1,708 attendees throughout the year, showcasing our ability to engage families durin8 school breaks and weekends.
CULTURE WARRINGTON TRUSTEES. REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Our commitment to acce55ibility and inclusivity is reflected in our postcode data. 22% of attendees came from the O-l0% m05t deprived areas nationally. with a further 14% from the I20% most deprived areas. illustratinB our reach into underseNed communities. Collections, Heritage. and Archives: Online enquiries have surged, reftecting a shift towards remote research whlch we continue to adapt to. We respond to thousands of enquiries on our collections and add hundreds of documénts to our archive every year, ensuring Warrington's history is preserved for future generations, and we are working with Cheshire Record Office to ensure that the people of Warrlngton have better access than ever to their records. Archives has seen a significant increase in volunteer engagernent. and they have been instrumental in indexlng and cotalogulng histori1 records and di8ltlslng our herbarium. In August of 2023, the Archlves Team held its flrst Annual Volunteer Tea, volunteer5 past and present 8Ot together for Afternoon Tea with our Chair, Maureen 8anner. Under the theme 'catIVitY Unwrapped., our Collections Team hosted 31 events over the nationwide Herltsge Open Days fortnight with over 4.700 partlclpants. Education Pro8ramme Our formal educational programme has continued to grow. and we welcomed new home education group5 to our school workshop offer, promoting use of publlc transport for visits. refle¢tin8 our approach to SUStainability and cost saving. Our CPD offer was robust, with a second cohort of Historicschools CPD In partnership with Hlstorl¢ England. We delivered a pllot course for adults with severe to moderate mental health Issues focu5in8 on nature and wellbeing that we hope to contlnue. Archives has continued to work c105ely with Educatlon to create children's workshops and teacher trainin8 5esslons, with a number ol bespoke le8acy projects such as Old Billy. celebrating the world's oldest horse, and a tailor-made scheme of work'william Smithies,, helplng to ensure that Local History reaches a younger audlence. Outreach & Warrington Contemporary Arts Festlval The charlty's outreach and community engagement progfammes took the breadth of our offer across the town, and we continue to develop a network of grassroots organisations to inform community-driven events. Our partnership with Wired Aerlal Theatre on the merstal health production Me v Me was a key achievement, with associated workshops for 236 participants that led to a reported 97% increase in wellbeing. The production itself drew 350 attendees who noted its innovative approach. We also playecl a slgnificant role in the Warrington Weekend Wonderland event, providing an Immersive installation and our annual Christmas projection on the Town Hall, collaborating with local artists and students. Our new membership of Without Walls Creative Development Network has expanded our outdoor arts programme, while our Place Shaping through Creativity project with CVAN (Contemporary Wisual Arts Network) underscores our commitment to creative place-making. Our outrea¢h delivery has included connecting with previously underrepresented groups. Consultatlon with the Hong Kong community and LGBTQ+ organisations have fostered deeper cultural understanding and led to collaborative arbd ongoing programming.
CULTURE WARRINGTON TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 We engaged with 300 young people through CODSultstions with schools and youth organisations and launched our Young Producers programme, with 12 individuals empowered to contribute to our event produrtion. Our early years and SEND programs, developed with local partners, include sensory dance activities and self-guided museum programmes, ensuring accesslbllity for all youn8 people. Our 13th annual arts festival saw an impressive open call for commissions. with 56 proposals submitted. We awarded £32,950 to 10 new festival commissions, supporting lo¢al creatives and expanding the festlval'5 scope. Our ongoing commitment to community enÉa8ernent and cultural development continues to enrich the arts scene in Warrington. Su5talnabillty The Sky Garden projert continues to grow and attract funding for further development and ha5 tbled Sn sizel Monthly garden 5es5i0n5 Wlth our e¥pandin8 volunteer group have kept our green initiatives growing, whlle work began on a sustainability policy and actlon plan for the charity. The location supports the education programme and offers an inspiring outdoor venue space. Our A¢hi•vements Number of people who participated in Culture Warrington activities- 152.021* Number of people who Chose to visit Parr Hall- 65.578 Number of people who participated in activities at Pyramid Arts Centre- 12,703 Number of people who vlsltin8 Pyramid Arts Centre and Parr Hall for some other rea50n- 8,424 Number of people who vlslted Warrington Museum & ArtGallery-39.411 Number of Archlve Search Room visits / information requests- 9.936 Number of people engaged In Culture Warrington's outreach and engagement activitie5- 8,430 Parr Hall hosted 76 events throughout 2023124 Pyramld was hired 416 tlmes for programmed events and dasses Number of formal educatlon sessions delivered- 183 Number of people en8a8ed in formal education sesslons-4.034 Staff Number of staff employed by Culture Warrington- 57 ernployees (at end March 20241 Number of volunteer hours 5UPPOrted by Culture Warrington- 1.900 • Figure excluding commisslons
CULTURE WARRINGTON TRUSTEES, REPORT ¢CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Looking forward The grant funded redevelopment of Pyramld Arts Centre will upgrade the ¥enue with a revamped Studio Theatre along with a new café and bar, and increased capacity in the Exhibition Hall. enabling the centre to host a range of perft>rmances and events simultaneou51y. The remodelling of existing facilities will focu5 on improving visitor experiences and increasing exhibitlon spaces. We a set to enhance ¢xJr cultural programming by expandlng the performance calendar at both Pyramid and Pair Hall to Include a broader spertrum ol local. national, and 5nternation31 artists. Strengthening community and educational outreach is a key priority. We plan to bulld on the success of our annual arts festival and extend it5 scope, duration and reath thanks to ACE grant funding whlch will enable us to dedlcate resource to planning and delivery with the cctmmunlty at its heart. Flnally, the commitment to sustalnability and environmental responsiblllty Is central to our future plans as we work to reduce our carbon footprint, integrate energy-efficient practbces. and make better use of recycled materia15. Thls commitment wlll extend beyond our buildings and into our programming and partnershlp work. Flnanrial review In the year ended 31 March 2024 Culture Warrington recorded a surplus of £519.37412023.' deficit of £394.7471 prior to actuarlal gains from the pension scheme. from Incomlng resource5 of £3,738,14212023: £2.923,2161. After taking into account the actuarlal gains there was an overall increase in funds from £3.237,006 to £4,071,380 as at 31 March 2024, The cash position remalns at a healthy level with cash levels being al £2.913.208 as at 31 March 202412023 £2,175,704), Although 3 deficlt was recorded in 2022123 the stron8 financial position of the charity allowed it to withstand the financial shocks in that year from increased energy costs and other inflationary pressures. The charity has recorded a surplus in 2023124 but this surplu5 includes £298,461 accounted for as a restricted fund from Place Partnership Fundin8 received from Arts Council England; the surplus on thls fund will reverse over the next two financial year5 05 this funding is spent on delivery. Similarlyj the net surplus is to some extent inflated due to the onÉoing staff vacancies in the 2023-24 flnancial year, wlth a number of p051tion5 remaining unfilled as at 31 March 2024. F4owever, the charity did benefit from a reduction in energy costs of clrca £120,000. and an increase in ticket sales at Parr Hall and the Pyramid Centre of circa £126.000 resulting from successful events programming. both of which contributed to the improved overall financial performance. The charity continues to maintain strong reserves and cash. Culture Warrington previously purchased shared services, including management and support services, frt)m Llvewire IWarrln8tonl CIC but in March 2024 that arrangement ceased when the services Livewire IWarrin8tonl CIC delivered were insourced by Warrlngton Borough Council. Culture Warrington has built up an independent central services function and secured addltional funding to offset the increased fvture costs. Reserves pollcv The purpose of the reserves policy for Culture Warrington is to ensure the stability of the ongoing operations of the charity. The charl$ unrestricted reserves are intended to provide an internal source of funds for situation5 such as a sudden increase in costs, Significant unbudgeted costs. or unanticipated105s in income or funding. The unrestricted reserves may also be used for investment in infrastructure. The LEnrestricted reserve5 are not intended to replace a permanent loss of funds but may be vsed to implement actions to deal with the impact of such a loss. The target minimum unrestricted reserve (excluding reserves relating to the pension scheme) is equal to one month's average operating costs- currently this would equate to £300,000- and the trustees will seek to maintain reserve5 at this level. The Trustees will balance the growth in unrestricted reserves to the target level with investTnent into projects which extend the reach of the cultural offer in Warrington by Splitting any annual surplu5e5 equally between these objectives.
CULTURE WARRINGTON TRUSTEES, REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024 structure* governance and management Culture Warrington Is a charitable company with Articles of Association and governed by a Board of Trustees. Culture Warrlngton is constituted as a limlted company by guarantee wlthout share capital. The trustees ère dirertly elected by the Trust. Culture Warrin8ton a8reed with Warrington Borough Council that the Council is entitled to nominate two obSeerS. The Board of Trustees has met formally six times during the year. To end February 2024, the Senior Management Team. comprised the Managlng Director, Finance Director. Health and Wellbeing Oirector, and People Performance and Resources Director, who attended all Board meetings. The Senlor ManaBement Team were employed by LNeWire Iwarringtonl CIC. and a management support servlces contract was In place detailing the areas of provision Culture Warrington received from Livewire Iwarringtonl CIC. One trustee was a member of warringion Cultural Trust and LiveW1 Iwarrlngtonl CIC Boards. From l March 2024, the management support services contract provided by L6veWire Iwarringtonl CIC ceased and Culture Warrington became a standalone organisation with a new Senior Management Team comprising an Executive Director and Cultural Director who attend all Board meetings. Each new trustee attend5 an indurtion day held by the Senlor Management Team. Trustees are presented with a pack of Information about Culture Warrington and their roles and respon5ibllitles as a trustee; addltional tralning is provided if requlred. During the year the Trust continued to largely Suspend the operation of subcommittees of the Board, with all business beSng carried out by the Board, although the Finance Audit and Rlsk Subcommittee met once durlng the year for a detalled revlew of the strategic risks affectin8 the charity. Goln8 con¢ern The charity has been able to deliver a full proRrèmme of events enabling It to continue to build its reserves. Grant5 recelved from Arts Council EnEland Into restrirted funds will be spent in future period5 and 50 these reserves will reduce over that tlme. However, an increase in the Management Fee from WarrlnEton Borough Council for 2024125 has been obtained to support core delivery. Alongside this. eTher8y prices have de¢ased bringing them back to a MO sustainable level. The Directors have considered the effect on the financial position of the charity and in vlew of the current financial posltion. and the financial support avallable. the Directors consider it appropriate to prepare a¢¢ounts on a going concern basis.
CULTURE WARRINGTON TRUSTEES, REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Trustees The trustees. who are also the diredor5 for the purp05e of company law. and who served during the year were., E L Hutchinson A F Appleton-mltchell M T Corfield M Banner L M Harrlson D C Simons R K Welsh J L Wilkie C Persoglio C Lloyd-Fitzgerald {Resi8ned 9 June 20231 (Resigned 17 September 20241 (Appointed 6 November 20231 (Appointed 21 May 20241 None of the tfustees has any beneflcial interest in the company. All of the t¥ustees are members of the company and guarantee to contribute £1 in the event of a winding UP. As part of the arrangements wlth Warrington Borough Council. the Council nominated tsvo observers that attend Board meeting5. The Council observers during the year were Councillor Claire Lloyd-FitZ8erald and Counclllor Ru55 Bowden. stjtement ol trustees, r25ponslbllitles The trustees, who are also the dlrectors of Culture Warrin8ton for the purpose of company law, are responsible for preparing the Trustees, Report and the accounts in accordance wlth applicable law and United Klngdom Accounting Standards Iunlted Kln8dom Generally Accepted Accounting PrdCticel- Company Law requires the trustees to prepare accounts for each financial year whlch give a true and falr view of the stste of affaSrs of the charity and of the incoming resources and application of $OUrces, including the Income and expenditure, of the charitable company for that year. In preparlng these accounts. the trustees are qUIred to: select sultable accounting politiès and then apply them consistently; observe the methods and principles In the Chanties SORP. make judgements and estlmates that are reasonable and prudent; state whether applicable UK Accountin8 Standards have been followed. subject to any material departures dls¢losed and explained In the accounts,. and prepare the accounts on the going concern basis unle55 It is inappropriate to presume that the charity will continue In operation. The trustees a responsible for keepin8 adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularitie&
CULTURE WARRINGTON TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Auditor In accordance wlth the company's article5. a resolution proposing that Mitchell Charlesworth (Auditl Limited be reappointed as auditor of the tompany will be put at the Annual General Meetin8. Disclosure of informatlon to auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the audltor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant informatlon and to establish that the auditor is aware of such Inforfflation. The tru5tees' report was approved by the Board of Trustees. M Banner Trustee Dated.. 10 December 2024
CULTURE WARRINGTON INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CULTURE WARRINGTON Opinion WÉ have audlted the financial statements of Cvlture Warrington (the 'chariVI for the year ended 31 March 2024 which comprlse the statement of financial activities. the balance sheet, the statement of cash flow5 and the notes to the financial statements, includin8 a summary of si8nificant accounting policies. The financlal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includin8 Financial Reporting Standard 102 The Financial Reporting Stondord appllcoble in the UK ond Republic of Ireland (United Kingdom Generally Accepted Accountlng Practice). lft our oplnlon. the financial ststements: give a tr¢Je and fair view of the state of the charilable company's affairs as at 31 March 2024 and of its incoming resources and application of resources. including its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdorn Generally Accepted Accountin8 Prattice,. and have been prepared In accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Internatlonal Standards on Auditing IUKI IISAS IUK)} and applicable law. Our responsibilities under those standards are further described in the Auditor'5 re5ponsiblllties for the audit of the flnanclal 5totements sectlon of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the finan¢lal ststements in the UK. Including the FRC'S Ethical Standard. and we have fulfllled our other ethlcal respon51bllities in accordance with these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate to provide a basis for our oplnlon. Concluslons relatlng to golng concern In audltlng the financial 5tatement5, we have concluded that the trustees, use of the goin8 concern basls of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties latIng to events or conditlons that, individually or colle¢tlvely, may cast significant doubt on the charity's ability to continue as a going concern for a perlod of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to goin8 concern are described in the relevant sections of this report. Other informatlon The other information comprises the information Included in the annual report other than the financial statements and our audltor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not expre55 any forrn of a55urance conclusion thereon. Our responsibility Is to read the other information and, in doin8 so, consider whether the other information is materially inconsistent with the finan¢lal statements or our knowledge obtained In the course of the audit. or otherwise appears to be materially misstated, If we identify Such materlal inconsistencies or apparent material misststements. we are required to determine whether thi5 gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a materlal misstatement of this other information. we are required to report that tsrt. We have nothin8 to report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the tTUStees' report for the financial year for which the financial statement5 are ppared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements; and the direttors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. 10-
CULTURE WARRINGTON INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CULTURE WARRINGTON Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the charity and it5 environment obtained in the course of the audit, we have not identified material misstatements in the directors. report included within the trustees, report. We have nothing to report in respett of the following matters in relation to which the Companies Act 2006 requires US to report to you if, in our opinion: adequate accountlng records have not been kept. or returns adequate for our audit have not been received from branches not visited by us,. or the flnancial statements are not in agreement with the accounting records and returns: or certain disclosures of trustee5' remuneration speclfied by law are not made; or we have not recelved all the information and explanations we require for our audit,. or the trustees were not entitled to prepare the financial ststements in accordance with the small companles reglme and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Re5ponslbllltles of irustees A5 explained more fully in the statement of trustees, responsibilities, the trustees, who are also the dlrectors of the charlty for the purpose of company law, are responsible for the preparation of the finan¢lal statements and for being satlsfled that they glve a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of rinantial statements that are free Irom material misstatement, whether due to fraud or error. In preparing the flnancial ststements, the trustees are responsible for assessing the charity's ability to contSnue as a going concern. discloslng, as applicable, matters related to golng concern and using the going concern basis of accounting unless the trustee5 either intend to liquidate the charitsble company or to cease operation5. or have no reallstic alternative but to do so. Audltor's respofflslbllltles for the audlt of the flnan¢ial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materlal misstatement, whether due to fraud or error. and to bssue an audtt*Jr's rèport that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance wlth ISAS IUKI will alway5 detect a material misstatement when It exists. Misstatements can arise from fraud or error and are considered material if, individually or In the agBregate, they could ieasonably be experted to influence the economlc decisions of users taken on the basis of these flnanclal statements. liregularities, Including fraud. are instances of non-compliance with law5 and regulation5. We design procedures in Ilne wlth our responsibilitles, outlined above, to detect material misstatements In sPeCt of irregularities, includlng fraud. The extent to which our procedure5 are capable of detecting irregularitles, including fraud, Is detailed below. 11
CULTURE WARRINGTON INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF CULTURE WARRINGTON Extent to which the audit was considered capable of detecting irregularities, including fraud We identify and assess the risks of material mi55tatement of the financial statements. whether due to fraud or error, and then desi8n and perform audit procedures responsive to those risks. including obtsining audit evidence that Is sufficient and approprlate to provide a basls for our opinion. Identifyln8 and assessing potential risks related to irregularities In Identifying and assessing risks of material misstatement in respect of irregularities. includlng fraud and non-compliance wlth laws and regulation5. we considered the following: the nature of the Industry and sector. control environment and buslness performance: the charity's own assessment of the risks that irregularities may occur either as a result of fraud or error; the results of our enquiries of management and members of the Board of Trustees of their own identification and assessment of the risks of [rgUlarItieS. any matters we identified havin8 obtained and vIewed the charity's docurnentation of their pollcles and procedures relatin8 to: identlfyln8, evaluatln8 and complying with laws and regulatlons and whether they were aware of any instances of non-compllance; detectin8 and respondin8 to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud,. and the Internal controls established to mitl8ate risks of fraud or non-compliance with laws and regulations; and the matters discussed amon8 the audit engagement tearn regarding how and where fraud might occur in the financial stitements and any potent5al indlcators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist wlthin the organisation for fraud and identified the greatest potential for fraud in the lollowlng areas: {11 The presentation of the charity's Statement of Financial Attivities. lil) the charity's accountlng policy for revenue recognition {liil the overstatement of salary and other costs livl the assumptions used in the calculatlon of the valuation of the surplus or deficit on the defined benefit pension scheme and the movements for the year. In common with all audits under ISA5 IUKI, we are also requSred to perform specifi¢ procedures to respond to the risk of management override. We also obtained an understanding of the leg31 and regulatory framework that the charity operates in, focusing on provislons of those laws and regulations that had a direct effect on the determination of material amount5 and disclosures in the financial ststements. The key laws and regulations we considered in this context Included the UK Companies Act and the Statement of Recornrnended Prartice-'Accounting and Reporting by Charities, issued by the joint SORP making body. In addition, we consldered provisions of other law5 and regulations that do not have a direct effett on the financial statements but compllance with which may be fundamental to the charlVs abllity to operate or to avold a material penalty. These included Data Protection Regulations. 12-
CULTURE WARRINGTON INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CULTURE WARRINGTON Audlt response lo risks identlfled A5 a result of performing the above, we identified the presentation of the charity's Statement of Financlal Activities. revenue recognition and overstatement of wages and other costs as the key audit matters related to the potential risk of fraud, The key audit matters section of our report explains the matters in more detsil and also describes the specific procedure5 we performed in response to those key audit matters. In addltlon to the above. our procedures to respond to risks identified included the following: • reviewing the financial statement disclosures and testing to supporting documentation to assess compliance wlth relevant laws and regulatlons described above as having a dirert effert on the financial statements; enquiring of management and members of the Board of Trustee5 concerning actual and potential litlgation and laims; perfoming analytical procedures to identify any unusual or unexpected relationships that may indicate rlsks of material mlsstatement due to fraud; reading minutes of meetings ot those charged with governance and reviewing correspondence with relevant authorlties where matter5 identified were signlficant: In addresslng the risk of fraud throu8h management override of controls, testing the appropriatene55 of journal entries and other adjustments- assessin8 whether the judgements made In making accountin8 estimates are Indicative of a potential blas- and evaluatlng the business rationale of any significant transactlons that are unusual or outside the normal course of business. We also communicated relevant Identified laws and regulations and potentlal fraud rlsks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations thmughout the audit. A further description of our re5ponslbllltles for the audlt of the financlal statements is located on the Flnancial Reporting Council's website at: http:Ilwww.frc.or8.uklauditorsrespDnslbllities. This description form5 part of our ouditor'5 report. Use of our report This report is made solely to the charitable Company's rnembers. as a body, in accordance with Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been undertsken so that we might stste to the charitable company's members those matters we are required to st3te to thern in an auditors, report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's member5 a5 a body, for our audit work, for this report. or for the opinions we have formed. Philip Griffiths (Senlor Statutory Auditor) for and on behalf of Mltchell Charlesworth IAuditl Limited 10 December 2024 Attountsnts statutory Auditor 5 Temple Square Temple Street Liverpool L2 5RH 13-
CULTURE WARRINGTON STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Restrlrted funds 2024 Total Unre5trirted funds 2023 Restricted funds 2023 Total 2024 2023 Notes Income from: Charitable activities Investments 3,252.062 37.590 360.490 3.612.S52 37.590 2.913,221 9.995 2.913,221 9,995 Total Income 3.289.652 360,490 3.650.142 2,923.216 2,923,216 Expendlture on: Charitable activltle5 3,082,S66 48.202 3.130.768 3,305,600 12,363 3,317,963 Total expendlture 3,082,566 48.202 3,130,768 3.305,600 12,363 3,317,963 Net Incomellexpenditurel 207.086 312.288 519.374 1382,3841 112,3631 1394,7471 Transfers between funds 14.1641 4,164 12171 217 Other recognised gains and losse5: Actuarial galns on deflned benefit penslon schemes 55,000 55,000 350,742 350.742 Net movement In funds 257.922 316,452 574,374 131,8591 112,1461 144,0051 Recon¢lllatlon of funds: Fund balances at l April 2023 1,231,794 82.212 1,314,006 1.263,653 94.358 1,358,011 Fund balances at 31 Mah 2024 1,489,716 398,664 1.888,380 1,231,794 82,212 1.314,006 The statement of financial activities includes all galns and losses recognlsed In the year. All Income and expendlture derive from continuing activities. 14-
CULTURE WARRINGTON BALANCE SHEET ASAT31 MARCH 2024 2024 2023 as restated Notes Flxed assets Tangible assets Current assets Stock5 Debtors Cash at bank and in hand li 190,565 121,459 12 20,341 144.221 2.913,208 17,714 117,121 2.175,704 13 3.077,770 2,310,539 Creditors: amounts fallin8 due wfthln one year 14 11.379,9551 11,117.9921 Net current assets 1,697,81S 1,192,547 Total assets less current Ilabilities 1,888,380 1.314,006 Net assets 1.888,380 1,314,006 Income funds Restrirted funds restricted funds Deslgnated funds General unrestricted lunds 16 398,664 82,212 17 15,452 1,474,264 15.452 1,216,342 1.489.716 1,231,794 1,888,380 1,314,006 The financial statements were approved and authorlsed for issue by the Trustees on 10 December 2024 M Banner Trustee Company RegistTatlon No. 07974406 15-
CULTURE WARRINGTON STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operdtlng actlvltles Cash generated from operatlons 21 806,344 110,154 Investing actlvltles Purchase of tangible fixed a55ets Interest received 1106,4301 37,590 {34,0331 9,995 Net cash used In Inve5tlng artivltle5 168.8401 124,0381 Net cash used In flnanclng artlvltles Net Increase In cash and rash equivalerrt5 737,S04 86,116 Cash and cash equlvalents at beglnning of year 2.175,704 2,089,588 C•sh and cash equlvalents at end of year 2,913,208 2,175,704 16-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charlty Information Culture Warrlngton is a prite company limited by guarantee incorporated in England and Wales. The reglstered offlce is PyraTnid Art5 Centre, Palmyra Square South, Wariington, Cheshire, WAI IBL. 1.1 Accounting conventlon The financial statements have been prepad in accordance wlth the charity's governing document. the Companles Act 2006, FRS 102 "The Financlal Reporting Standard applicable in the UK and Republic of Ireland" l°FRS 102,1 and the Charlties SORP "Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to tharities preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard applicable in the UK and Republ1¢ of Ireland IFRS 1021" (effective l January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financlal statements are prepared in sterling, which Is the functional currency ot the charity. Monetary amounts in these financlal statements are rounded to the nearest E. The financial Statements have been prepared under the historical cost Convention. The prlncipal accounting policles adopted are set out below. l.Z Golng concern In vlew of the current financial position, the fundlng support available, and the continued support of our commissioners, Warrlngton Borough Council. the trustees consider it approprlate to prepare accounts on a going concern basis. 1.3 Charltable furKIs Unrestricted funds are available for use at the discretion of the trustees In furtherance of their charitable objectives, Designated funds comprise funds which have been Set aside at the discretion of the trustees for specific purposes. rhe purposes and uses of the designated funds are set out In the notes to the ftnancial statements. Restricted funds are 5ublert to specifie conditions by donors as to how they may be used. The purposes and uses of the restTlCted funds are set out In the notes to the financial 5tatement5. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. C3sh donations are recognlsed on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance condltlons require deferral of the 3mount. Income tax recoverable in relation to donatlon5 received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognlsed on receipt or otherwise if the charity has been notlfied of an impendin8 distribution, the amount is known. and recelpt is experted. If the amount is not known. the legacy is treated as a contingent asset. 1.5 Expenditurè Liabillties are recognised as expenditure as soon as there Is a legal or ConstrtiVe obligation committing the charlty to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligztion can be measured reliably. Expenditure is accounted for on an accrua15 basis and has been classified under headings that aggregate all cost related to the cètÈgory. Whère cost5 cannot be dirertly attributed to particular headin8s they have been included in SLEPPOrt costs and allocated to activates on a basis consistent with the use of resources. 17-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnuedl 1.6 Tanglble fixed assets Tangible fixed assets are Inltlally measured at cost and subsequently measured at cost or valuation, net of depreclatlon nd any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful live5 on the followin8 base5'. Plant and equipment Fixtures and fittings Computer equlpmenr IO% on cost IO% on c05t 20% on cost The gain or Ioss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carryin8 value of the asset. and is recognised in the statement of financial Ktivities. 1.7 Impalrment of fixed a5SÈts At each reportlng end date, the charlty reviews the carrying amouftts of its tanglble assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, thè recoverable amount of the asset is estimated in order to determine the extent of the impairment loss Ilf any). 1.8 Stocks Stocks are stated at the lower of cost and net realisable value. after making due allowance for ob501ete and slow movlng items. Net realisable value is the estimated sellin8 price less all estimated costs ol completion and costs to be Incurred in marketingi sellin8 and distribution. 1,9 Cash and cash equivalenls Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with Drlginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowln85 in current liabillries, 1.10 Finan¢i#l insiruments The charity has elected to apply the provisions of Section 11 '8asic Financial Instrument5, and Sectlon 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Flnancial assets and liabilities are offseL wtth the net amounts presented in the financial ststements, when there Is a legally enforceable ri8ht to set off the recognised amounts and thero is an intention to settle on a net basis or to realise the asset and settle the liability simultaneouslv. Bo51cfinanciol ussets Baslc flnancial assets. which include debtor5 and cash and bank balances. are initially measured at transactlon price including transaction costs and are subsequently carried at amortised cost using the efFettive interest method unless the arran8ement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of Interest. Financial assets ¢lassified as receNable within one year are not amortised. 18-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountin8 policie5 {Continuedl Impairment offlnandal ossets Financial a55ets, other than those held at tsir value through income and expenditure. are assÈssÉd for indicators of Impairment at each reporting date. Financial assets are impaired where there is objective evldence thaL as a result of one or more events that occurred after the initial recognition of the ftnancial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows dlscounted at the asset's original effettive interest rate. The impairment loss is reco8ni5ed in net Incomellexpenditurel for the year. If there is a decrease in the impairment loss arislng from an event occurring after the impairrnent was recognlsed, the impalrment is reversed. The reversal Is such that the current carrying amount does not exceed what the carrying amount would have been. had the impairment not previously been recognised. The impairment reversal is recognised In net incomellexpendlturel for the year. Dere¢ognition offinanclol assets Flnancial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the flnancial asset and substsntlally all the risks and rewards of ownership to another entity, or If some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Baslcllnonclal Ilobllltles Basic financial liabilities, Including creditor5 and bank loans are initially recognised at transaction price unless the arran8ement constitutes a flnancing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortlsed. Debt instruments are subsequently carried at amortised cost, Using the effective interest rate method. Trade creditor5 are obliEations to pay for 8ood5 Qr services that have been acquired in the ordinary course of Dperations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabillties. Trade creditors are recognised initially at transaction prlce and subsequently measured at amortised cost using the effectlve Interest method. Derecognltlon ofllnanciol liobilities Financial liabilities are derecognised when the charlvs contrartual obligations expire or are dlschar8ed or cancelled, 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. 1.12 Retirement beneflts Payments to deflned contribution retirement benefit xhemes are charged as an expense as they fall due. 19-
CULTURE WARRINGTON NOTE5 TQ THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 CTltical accountin8 estimates and judgements In the appllcatlon of the charity's accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of asset5 and liabillties that are not readily apparent from other sources, The estimates and associated assumptions are based on htorIcal experience and other factors that are considered to be relevant. Actual results may dlffer from these estlmates. The estimates and underlying assumptions are reviewed Dn an ongoing basls. Revisions to a¢uting estimates are recognised In the perlod In whlch the estlmate is revised where the revlsion affects only that period, or in the period of the revlslon and future periods where the revision affects both current and future perlods. Charitable a¢tivlties CultuTrl Museum Vewe & events fflana¢èment Tot•1 2024 Tot41 2023 Museum and Art gallery Pyramid and Parr hall Facility hlre Culture engagement Commissions Education Mana8ement fee 1,160 393 534 1,702 38,876 13.840 1.528.OS2 5,653 6,813 1.458.445 187,178 7,457 399.382 13,840 1,539,437 12,081 1,326,988 181,520 9,302 59,899 14,416 1,309,015 1,458,052 186.644 3.827 356.955 1.928 3.551 11,385 1,584.557 22,517 2,IX15,478 3.612.552 2,913,221 Analysis by fund Unrestricted funds RestrScted funds 1.$84,S57 18,982 3.535 1,648.523 356.955 3,252,062 360.490 1,584,557 22.517 2,005,478 3,612.552 For the year ended 31 March 2023 UnrestTlCted fund5 1,397,940 5.600 1.509.681 2,913,221 Income from Investments Unrestri¢ted funds 2024 Unrestrlcted funds 2023 Deposit account interesr 37.590 9,995 -20-
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Ln prrno m f¥ Ln Ln * O c4 as t¢ Ln 00 O) Ln Lrt o r4 Ln *P4000 Ln 40 rn Ln ) O P4 • rri ri Wi Iti r4 th m Ln J v 49 ri o rL
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS (CONnNUED) FOR THE YEAR ENDED 31 MARCH 2024 Support Costs Support costs Goveman costs 2024 2023 Basis of allocation Staff costs Depreciation Advertising and literature Professional fees Telephone and computer Other central support Costs Irrecoverable VAT Net interest cost on defined beneflt penslon scheme 373.722 5.173 46.791 150.564 68.410 67.791 143,628 373.722 5.173 46,791 150.564 68,410 67.791 143,628 543,069 Time spent 1,239 49,534 Charitable activity levels 157,449 Operational staff costs 65,241 Device numbers 58,978 Operational staff costs 144.354 Charitable activity levels 188.OlYJI 188.0001 5.000 Audit fees Legal and profe55ional 9.800 14.784 9,800 14.784 9,583 Governance 14,784 Governance 768,079 24,584 792,663 1.049,231 Analysed between Charltable actlvitles 768,079 24.584 792.663 1.049,231 Net movement In funds 2024 2023 The net movement in funds is stated after chèr8lngllcreditin81: Fees payable for the audlt of the charity's financial ttatements Depreciation of owned tsngible fixed assets 9,800 37,324 9,583 24,696 Trurtees None of the trustees lor any persons connected wlth them) received any remuneration or benefits tiom the charity dvring the year. -23-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees Number of Èmployees The average monthly number of employees during the year was: 2024 Number 2023 Number Management and administration Operational team 56 53 58 55 Employment costs 2024 2023 Wages ond salarles Social security costs Other pension costs 871,874 66,660 143,000 792,528 65,831 330,000 1,081,534 1.188,359 The members of the senlor management team are employed by Livewire {Warrlngtonl CIC. The number of employees whose annual remuneration was £60,OCQ or more were.. 2024 2023 Number Number £60,001- £70,000 10 Taxatlon The charity is exernpt from taxation on its activities because all its income is applied for charitable purposes. -24-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS ICONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 11 Tanglble Ilxed assets Plant and equlpment rixture5 and Comptster e41pme Total Cost At l April 2023 Additions 171,341 17.111 30,889 70.039 31,414 19,280 233,644 106,430 At 31 March 2024 188.452 100,928 50,694 340,074 Depreciation and impairment At l Aprll 2023 Depreciation charged in the year 72,164 18,517 22,586 9.722 17,435 9,085 112,185 37,324 At 31 March 2024 90,681 32,308 26,520 149,509 Carrying amount At 31 March 2024 97,771 68,620 24,174 190,565 At 31 March 2023 99,177 8,303 13,979 121,459 12 Stocks 2024 2023 Raw materials and consumables 20,341 17,714 13 Debtors 2024 2023 Arnounts falllng due wlthln one year: Trade debtors Prepayments and accrued Income 86,815 57,406 62,449 54,672 144.221 117,121 -25-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Credltors: amounts falling due within one year 2024 2023 Other tsxation and social security Trade creditor5 Other creditors Accruals and deferred income 61.690 227,362 41,448 1,049.455 47,469 197,904 26.769 845,850 1.379.955 1,117,992 15 Retlrement benefit schemès 16 Restricted funds The restricted funds of the charity comprise the unexpended balances of donatlons and grants held on trust subje¢t to speciflc condltlons by donors a5 to how they May be used. At l Aprll 2023 IncominB resources Resources expended Transfers At31 March 2024 Numlsmatic Sustalnable Improvement Fund Grant Geoblitz Ready to borrow Contemporary Arts Weston Loan Programme Colonel Edelsten Bequest Meeting Point Peter Rogerson Bequest Local Growth Fund Grdss Roots Music Place Partnership Fund 1.500 1,500 3.500 {5921 2.908 I,iii 4,215 I,iii 5,343 11,1281 17321 35 697 1.283 57,575 6.500 8.900 1,283 52,657 6,500 6,810 14.9181 12,090} 13,4671 13.736) (31,5391 3,467 26.955 330.000 23,219 298,461 82,212 360,490 148,2021 4,164 398,664 -26-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2024 16 Restricted funds (Contlnued) Previous year: At l April 2022 Incoming resources Resources expended Transfers At 31 March 2023 Numlsmatlc Geobliti Ready to borrow Weston Loan Programme Colonel Edelsten Bequest Mèeting Point Peter Ro8erson Bequest Local Growth Fund 1,500 I,iii 6.471 1,283 64,243 6,500 10,000 3,250 1.500 I,iii 5,343 1,283 57,575 6,500 8,900 {1.1281 {6.6681 {i.1001 {3,4671 217 94,358 112,3631 217 82,212 -27-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH2024 16 Restricted funds (Continued) Numi5mati¢- £1,500 was recelved from the Northwest Museum Development Fund to improve care of and accessibility to our Numismatic collection. Geoblltz This grant via Leeds Museum5 is to develop andlor promote engagement with the Geolo8y collection at Warrlngton Museum &Art Gallery. Ready to Borrow - Thls grant from ACE is to enable Culture Warrington to buy equipment that provide5 a suitable and stable envlronment $0 that we are able to borrow paintings from Natlonal Museurn Contemporary Art$ - This is fundlng from ACE and Warrlngton 8orough Council to fund the Warrlngton Contemporary Arts Festival. Weston Loan Proiramme - This grant is to cover costs relating to borrowing three paintings from National Museums Liverpool, Includlng conservation work, transport, School of Art actlvity pfoEramme of artlst workshop5 and semlnars, exhlbltlon guides, additional Front of House staff. This programme ran from May to December 2018. Colonel Edelsten Bequest- This grant from the Colonel Edelsten Bequest Is to fund an upgrade of equipment to improve the experlence for users of Culture Warrington. Meetlng Polnt - This fundin8 from Arts and Heritage is to enable Culture Warrington to work with and commlsslon local artist to produce a piece of contemporary art. and to explore showin8 contemporary art within a herltage context. The commissioned piece formed part of the Warrington Contemporary Arts Festival for 2019. Peter Rogerson Bequest - Thbs Is legacy fundlng from the estate of local history librarlan, Peter Ro8er50n, to be Invested In developing the charity's Archwe Service. Local Growth Fund - This fundlng Is provlded by the Cheshire and Warrlngton Local Enterprise Partnershlp to make the existinE Warrington Museum & Library building and the network of community-based libraries Into hubs for the delivery of digltal programmes and workshops for coding clubs, schools, local businesses and dlgital creatives in the communlty. Grass Roots MU£ - Thls fundlng Is provlded by Arts Council England to support rehearsal and recording studios, promoters, festivals, and venues for live and electronic music performance such as grassroots music venues and club sector or8anisation5 to apply for support for projects. placa Partnershlp Fund - This funding 15 provided by Arts Council England to 51JPPOrt for specifi¢ types of projects that aim to make a step change in the cultural and creative opportunity in places through the Place Partnership Strand within Project Grants. These will be projects that seek to transform an aspert of cultural or creative provlslon in line with Let's Create and the strateglc cultural development aspirations of the place the activity benefit5. -28-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 17 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not 5ubjert to specific conditions by donors and grantors as to how they may be used. These include deslgnated funds which have been set aslde out of unrestricted funds by the trustees for specific purposes. At l April 2023 Ineomlng resources Resources expended TrdnsfersGalns and Josses At 31 March 2024 Car park fund General funds 15,452 1,476,342 15,4S2 1,789,264 3,289,6S2 12.972.566) 14.1641 1,491,794 1260,0001 3,289.652 12,972,566> 155.OCK)) 14,164) 1.804,716 1260,0001 Pension fund 55,OLh) 1,231.794 3.289,652 13,027,566} 14,1641 55,0 1,544,716 Prevlous year: At l April 2022 Incoming resources Resources expended TransfersGalns and losses At 31 March 2023 Car park fund General funds 14,711 1,263.942 741 12161 15,452 1,216,342 2,923,216 12.970,6CLJ} 1,263,653 11,938,000) 2,923,216 13.305,6CKJ} 1335.OC(I} 525 1.231,794 Pension fund 2,273,0 1674,3471 2,923.216 13,640,6CKJI 525 2,273,0 1.231,794 The car park fund represents contr5butbons to car parking by stsff which the trustees have agreed to Set aside to cover any future repair costs. 18 Analysis of net as5et5 between funds Unrestrlcted 2024 Restrirted 2024 Total Unrestrlcted 2024 2023 Restrlcted 2023 Totsl 2023 Fund balance5 at 31 March 2024 are represented by.. Tangible assets Current assetsllliabilitiesl 128,592 1,361.124 61.973 336.691 190,565 1.697.815 58,541 1,173,253 62.918 19,294 121,459 1.192,547 1,489.716 398.664 1,888.380 1,231.794 82,212 1.314,006 -29-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Related party transartlons Durin8 the current and prior year Culture Warrington utilised the key management personnel and resDurce5 of Livewire Iwarringtonl CIC a company registered in England and Wales, company number 07972958. A recharge is incurred from LiveW1 Iwarringtonl CIC for the use of these resources. 20 Analysis of thanEes in net funds The charity had no material debt during the year. 21 Cash generated from operatlons 2024 2023 Surpluslldellcit) for the year 519,374 1394,7471 Adjustments for: Investment income recognised in ststement of financial activities Depreclatlon and Impairment of tan8ible fixed assets Difference between pension charge and cash contributlons 137,5901 37,324 55.000 19,9951 24,697 335,742 Movements In working capltal: {Increasel In stocks Ilncreaselldecrease in debtors Increase in creditors 12,6271 127,1001 261,963 17,4451 54,384 107,519 Cash generated from operatlons 806,344 110,155 22 Prlor perlod adjustment Changes to the balance sheet At 31 March 2023 As prevlou51y Adjustment reported As resiated Provisions for liabilities Pension obli8ations 1.923,tMXI 11.923.0001 Capital funds Income funds Restrlcted fund5 Unrestricted funds 82,212 3.154.794 82,212 1,231,794 11,923,000) Total equity 3.237.006 11,923,OW} 1,314,006 -30-
CULTURE WARRINGTON NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Prior period adjustment {Continuedl At 31 March 2021 As previously AdJustment reported As restated ChanEes to the SOFA Period ended 31 March 2023 As previously Adjustment reported As restated Actuarlal galn/llossl on defined beneflt penslon scheme 2,273,742 11.923,0001 350,742 Net movement In funds 1,878.995 11.923,0001 {44,0051 -31-