Charity Registration No. 1152149
ARTIFICATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2022
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| Trustees | Timothy Owen |
|---|---|
| Rachael Owhin | |
| Timothy Robert Norris | |
| William Bruce Harron | |
| Barry Khwatenge | |
| Sarah Constable | |
| Janet White | |
| Charity number | 1152149 |
| Principal Address | W3 Gallery |
| 185 High Street | |
| Acton | |
| London | |
| W3 9DJ | |
| Independent Examiner | Syon Associates |
| Suite 17 | |
| 58 Marsh Wall | |
| Canary Wharf | |
| London | |
| E14 9TP |
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CONTENTS
Trustees' report 4 Independent examiner's report 5 Statement of financial activities 6 Balance sheet 7 Notes to the financial statements 8 - 9 Resource Analysis – Incoming/Expended 10 Movement in Funds – Restricted 11
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TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report and financial statements for the year ended 31 March 2021. The charity’s trustees are responsible for the preparation of the accounts and under the Charities Act 2011 Section 144(2) an independent examination is required. Though a audit is not required for these charity accounts.
Objectives and activities
The trust's objects are to promote the transformation of communities through Arts with the aim to strengthen diversity and health of the widespread community. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised.
Structure, governance and management
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The trustees who served during the year were:
Yukta Acharya Timothy Owen Edith Rita Lochli Rachael Owhin Jennifer Walker Timothy Robert Norris William Bruce Harron
New trustees are appointed when needed by the existing trustees. The trustees' report was approved by the Board of Trustees.
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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ARTIFICATION
I report to the trustees on my examination of the financial statements of ARTification (the trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting
and Reporting by (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland I understand that this has been done for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1 Accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act; or
2 The financial statements do not accord with those records; or
3 The financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
Signature: SYON ASSOCIATES
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Statement of financial activities (including summary income and expenditure account)
| Recommended categories by activity Income (Note 1) Income and endowments from: Donations and legacies Other Total Expenditure (Notes 2) Expenditure on: Charitable activities Total Net income/(expenditure) before tax for the reporting period Net movement in funds |
Unrestricted funds £ |
Restricted income funds £ |
Total funds 2022 £ |
Prior year funds 2021 £ |
|---|---|---|---|---|
| 35,844.17 | 117,433.23 | 153,277.40 | 99,271.16 | |
| 2.51 | - | 2.51 | 15.76 | |
| 35,846.68 | 117,433.23 | 153,279.91 | 99,286.92 | |
| 54,363.76 | 105,345.53 | 159,982.29 | 107,023.11 | |
| 54,363.76 | 105,345.53 | 159,982.29 | 107,023.11 | |
| -18,790.08 | 12,087.70 | -6,702.38 | - 7,736.19 |
|
| -18,790.08 | 12,087.70 | -6,702.38 | - 7,736.19 |
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| Unrestricted | Restricted | Total this | Total last year | ||
|---|---|---|---|---|---|
| funds | income | year | 2021 | ||
| funds | 2022 | ||||
| £ | £ | £ | £ | ||
| Current assets | |||||
| Debtors | (Note 3) | 1,447.00 | - | 1,447.00 | 5,088.95 |
| Cash at bank and in hand | 28,775.17 | 16,118.36 | 44,893.53 | 56,692.98 | |
| Total current assets | 30,222.17 | 16,118.36 | 46,340.53 | 61,781.93 | |
| Current Account | 22761.16 | 34563.12 | |||
| Saving Accounts | 22132.37 | 22129.86 | |||
| Creditors:amounts falling due | 259.56 | - | |||
| within one year | (Note 4) | 259.56 | 9,269.07 | ||
| Net current assets/(liabilities) | 29,962.61 | ||||
| 16,118.36 | 46,080.97 | 52,512.86 | |||
| Total assets less current liabilities | 29,962.61 | ||||
| 16,118.36 | 46,080.97 | 52,512.86 | |||
| Total net assets or liabilities | 29,962.61 | ||||
| 16,118.36 | 46,080.97 | 52,512.86 |
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Notes to the financial statements
Note 1
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Restricted
Unrestricted income
Analysis of income funds funds Total funds Prior year
£ £
Donations and Donations and gifts
legacies: 12,700.62 104,508.42 117,209.04 99,271.16
General grants provided
by government/other
charities 23,143.55 12,684.81 35,828.36 -
Total
35,844.17 117,193.23 153,037.40 99,271.16
Other: Interest Income on
Savings 2.51 - 2.51 15.76
Total
2.51 - 2.51 15.76
TOTAL INCOME 35,846.68 117,193.23 153,039.91 99,286.92
Note 2 2022 2021
Total
Restricted
funds
Unrestricted Restricted Total Unrestricted income
Analysis funds funds funds funds funds
Expenditure on raising
funds: £ £
Fundraising Costs
2,920.40 455.26 3,375.66 206.48 - 206.48
Other trading activities
49,706.56 154,596.83
104,890.27 35,553.51 62,060.85 97,614.36
Legal and Professional
Costs
1,442.80 - 1,442.80 398.35 - 398.35
Rent collection, property
repairs and maintenance
charges 294.00 - 294.00 8,803.92 - 8,803.92
Total expenditure on
raising funds 54,363.76 105,345.53 159,709.29 44,962.26 62,060.85 107,023.11
TOTAL EXPENDITURE 54,363.76 105,345.53 159,709.29 44,962.26 62,060.85 107,023.11
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Note 3
Debtors and prepayments
Analysis of debtors
Trade debtors
Note 4
20.1 Analysis of creditors
Trade creditors
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This year Last year
£ £
1,447.0 5,089.0
Total 5,088.95
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Creditors and accruals
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Amounts falling due within one
year
This year Last year
£ £
259.56 9,269.07
Total 259.56 9,269.07
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Resource Analysis – Incoming/Expended 31 March 2022
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Restricted Funds Incoming Resources Outgoing Resources Movement in funds
HMRC Grant £12,684.81 £12,684.81 £0.00
Greenford quay £240.00 £240.00 £0.00
Salaries - Trust for London £10,000.00 £10,000.00 £0.00
Carnival2021 £500.00 £570.83 £70.83
City Bridge Trust £10,000.00 10000 £0.00
Gallary rental £0.00 £600.00 £600.00
LBE My Mural £5,000.00 £0.00 £5,000.00
Gallery Expenditure £0.00 £264.97 £264.97
Tree Council £667.30 £664.28 £3.02
Acton Charities £2,500.00 £2,500.00 £0.00
Acton Garden-Part of it £5,000.00 £1,400.00 £3,600.00
Award for All £5,636.00 £5,636.00 £0.00
Clarion Future £4,960.00 £0.00 £4,960.00
HAF £4,692.00 £4,690.86 £1.14
NAP Cleaning/Consumables £0.00 £335.40 £335.40
North Acton Launch-Xmas market £2,375.00 £2,375.00 £0.00
Paul Auction £1,464.11 £1,214.11 £250.00
Salary - Simon £28,288.95 £28,288.95 £0.00
Spacehive £20,430.06 £20,430.06 £0.00
Tuvida £495.00 £495.00 £0.00
Volunteer Expenses £0.00 £455.26 £455.26
W3 Utilities £0.00 £0.00 £0.00
Walking Gallery £2,500.00 £2,500.00 £0.00
Total £117,433.23 £105,345.53 £12,087.70
Unrestricted Funds Incoming Resources Outgoing Resources
Deposit Refund £0.00 £1,390.50 £1,390.50
Accounts £0.00 £1,442.80 £1,442.80
Insurance £0.00 £860.45 £860.45
PAYE/Pension £0.00 £8,415.57 £8,415.57
Running Cost £0.00 £1,467.85 £1,467.85
Salaries £0.00 £26,204.42 £26,204.42
Other £103.44 £0.00 £103.44
Gallery Sales £1,037.81 £0.00 £1,037.81
Covid Hardship grant LBE £6,336.05 £0.00 £6,336.05
Affordable Art Sales £0.00 £465.40 £465.40
Business Rates £0.00 £248.29 £248.29
Fund Raising £0.00 £2,455.00 £2,455.00
Savings Interest £2.51 £0.00 £2.51
COOP £1,648.36 £1,648.36 £0.00
Omicron grant LBE £2,667.00 £0.00 £2,667.00
Covid grant £6,140.50 £0.00 £6,140.50
Restart grant LBE £8,000.00 £0.00 £8,000.00
NAP Rental £9,908.50 £9,471.12 £437.38
Repair/Maintenance £0.00 £294.00 £294.00
Total £35,844.17 £54,363.76 £18,519.59
Grand Total £153,277.40 £159,709.29 £6,431.89
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Movement in Funds – Restricted 31 March 2022
| Restricted Funds |
Restricted Funds |
b/f | Incoming Re- sources |
Outgoing Re- sources |
Movement in funds |
c/f | |
|---|---|---|---|---|---|---|---|
| HAF | £0.00 | £4,692.00 | £4,690.86 | £1.14 | £1.14 | ||
| Award for All | £0.00 | £5,636.00 | £5,636.00 | £0.00 | £0.00 | ||
| Paul Auction | £0.00 | £1,464.11 | £1,214.11 | £250.00 | £250.00 | ||
| WalkingGallery | £0.00 | £2,500.00 | £2,500.00 | £0.00 | £0.00 | ||
| Acton Garden- Part of it |
£0.00 | £5,000.00 | £1,400.00 | £3,600.00 | £3,600.00 | ||
| Tree Council | £0.00 | £667.30 | £664.28 | £3.02 | £3.02 | ||
| Clarion Future | £0.00 | £4,960.00 | £0.00 | £4,960.00 | £4,960.00 | ||
| Total Funds | £7,428.75 | £34,919.41 | £26,105.25 | £8,814.16 | £16,242.91 |
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